What It’s Like To Go Freelance In An Uncertain Economy

When I told family and friends that I was quitting my corporate job in tech to freelance earlier this year, there was a common reaction, which went a bit like this: “What? WHY? The economy is so bad right now, what if you can’t find another job?”

I didn’t have a prettily packaged answer to any of those questions. I was quitting because a bunch of smaller reasons had snowballed into something I could no longer ignore: a toxic work environment (half my colleagues were seeing psychiatrists – a pretty significant statistic here, where therapy isn’t part of our culture), a lack of growth opportunities, and work that wasn’t satisfying no matter how hard I tried.

My colleagues often mentioned how challenging they felt it would be to move to another company where “we would actually have to work and use our brains”.

I wasn’t sure if I’d be able to find another full-time job, but what I was certain about was that a) I didn’t want to turn into a corporate zombie who was afraid to learn and experiment, and b) I was done with working in a giant corporation where people were stepping on one another to rise to the top.

“I didn’t want to turn into a corporate zombie who was afraid to learn and experiment.” | IMAGE: UNSPLASH

So, after lining up a few temporary gigs that would see me through the first three months of f-unemployment, I quit. The idea of infinite possibilities ahead gave me an adrenaline rush, but also some anxiety.

After the initial period, would the world forget about me and not give me jobs? Would I earn enough to pay my mortgage and maintain my lifestyle? Where was I going with all this?

I don’t have all the answers yet, but here are a few things I’ve learnt in the past year of being a freelancer that go towards tackling some of those questions:

How to get work

People often think they can’t be a freelancer if they don’t have a tangible skill, like writing. But that’s not true. While I am a writer, I take on other jobs that don’t involve writing. I consult with creative agencies, for example, on social media strategies, or support them through pitches with communications know-how and creative ideas.

A friend of mine who’s an IT consultant makes a lucrative living working with tech consulting companies on a project basis. You just have to think about where your skills can make a difference.

I’ve also found that there are loads of contract jobs (tip: look for maternity covers) on LinkedIn, and have scored a few gigs through the platform.

One plus-point of applying for short-term roles: the selection process isn’t as tortuous (I’ve had some full-time jobs where there were as many as 10 interview rounds!) and who knows, you may even be able to move to a full-time role once your contract is up – if that’s what you want, of course.

For me though, the steadiest stream of opportunities has come from ex-employers. Short-term work arrangements are on the rise – Channel NewsAsia reported a 60% increase in the number of temporary jobs in Singapore this year – and plenty of companies are looking for contract or part-time workers.

In particular, when it comes to temporary roles to fill, employers love “plug and play” staff, so if you’re already familiar with a company or team, the chance that you’ll get an available role is high.

All about the money

Is freelancing financially sustainable? It depends what industry you’re in and how much you want to work, but unless you’re some high-flying CEO or billionaire entrepreneur, you can probably make money that compares with your full-time job.

The key is to get one or two retainers to form the core of your monthly salary (enough to pay your bills and cover essential expenses).

Apart from that, I make it a point to leave enough time in my schedule to try things outside of the retainers. I usually set aside no more than 70% of each week on retainer work, which gives me the flexibility to take on other jobs that expand my range or allow me to do different, interesting things with the remaining 30%.

Working with new people offers great payoffs. | IMAGE: UNSPLASH

It helps to remember that your salary doesn’t always have to come in the form of cash. Getting to be involved in innovative experiences or working with new people also offer great payoffs in terms of learning and personal growth.

The freelancer’s identity crisis

One thing I’ve realised as a freelancer is: because you’re working in so many capacities at once, a lot of role switching is required, which can be confusing if you’re not confident about yourself or sure about what your working style is.

You can be a boss one day, a minion another – and as a temporary staff, you almost always don’t have as much say as a full-time employee (sad, but true).

What works for me is staying true to my values and being integrity-driven at every turn. If my opinions aren’t taken into consideration, I take that as an ego check and move on. I try to be the same person in every job I do – you have to be, or you’ll face an identity crisis!

Setting a direction

Once you’re free from the shackles of a full-time job, it’s tempting to take every bit of work that comes your way (especially if you’re a kan cheong spider, like me), and fire in all directions to see where things go.

But I’ve learned that it’s essential to shape your own path into something you really see value in, if only to save yourself from becoming resentful that you gave up a full-time job for work that you weren’t passionate about.

Have a goal in mind, and work towards it. | IMAGE: PEXELS

Set a goal – this can be industry- or lifestyle-led, for example focusing on becoming an IT consultant, or getting to a point where you can work 100% remotely – and prioritise the opportunities that lead to it.

You may not always get gigs that go in the direction you want, but at least with a goal in mind you’ll know how to triage the jobs that come your way, and can track your progress towards it.

Do I think I made the right choice, a year down the road? I guess only time will tell. But what I can say with some certainty is that, in an era where most of us probably have to work well into old age, this is something I can see myself doing in the long-term, versus being in a nine-to-five corporate job for the rest of my working life.

For the latest updates on Wonderwall.sg, be sure to follow us on TikTok, Telegram, Instagram, and Facebook. If you have a story idea for us, email us at [email protected].