The traditional employment contract is fundamentally shifting. While 82% of employees want to be valued as individuals rather than just employees, fewer than half (45%) feel their organizations see them this way, according to Gartner. Meanwhile, Deloitte’s 2024 Gen Z and Millennial Survey reveals that over one-third of workers are concerned about losing their jobs entirely. There’s a seismic shift happening in how professionals view their careers, and it’s leading more people to consider freelancing than ever before.
To understand this career revolution, let’s explore why freelancing appeals to corporate professionals and how this career path offers greater security in today’s economy.
Why Are Corporate Professionals Freelancing?
While there are many reasons professionals leave their traditional jobs, these are the five factors that best predict long-term satisfaction and success as a freelancer.
1. Freelancing Offers Greater Career Satisfaction
Career satisfaction is consistently higher among independent workers compared to traditional employees.
The most recent study from MBO Partners shows that 61% of independents say they are more able to be authentic at work, compared to just half of traditional workers. Nearly 60% said their work fits well with who they are as a person compared with only 47% of traditional workers.
The numbers tell a clear story. Professionals who make the switch tend to be happier with their work lives, even if they don’t always earn more money initially.
2. Freelancing Leads To Increased Job Security
Job security might seem counter-intuitive as a benefit of freelance work, but the data suggests otherwise.
In 2024, 61% of independent workers chose this path by choice, with only 10% saying it was out of necessity, according to the MBO Partners study. Confidence in independent work is growing, with 65% of full-time independent workers feeling more secure than in traditional roles and over half saying they wouldn’t return to traditional employment.
The shift represents a growing movement toward autonomy and purpose, not just a fallback option.
This sense of security comes from having:
- Multiple clients instead of a single employer
- Control over pricing and workload
- Ability to adapt to market changes quickly
- Direct relationship with revenue generation
The old social contract of trading loyalty for security has eroded in traditional employment. Benefits have been cut, pensions have largely disappeared, and mutual loyalty between organizations and employees has declined significantly.
3. Freelancing Provides Work-Life Flexibility
Flexibility is a major driver for professionals choosing independent work, especially among women. Women are more likely than men to choose freelancing because they want more flexibility in their schedule, prefer to work from home, and want to avoid an unpleasant or toxic work environment. This flexibility translates into real lifestyle benefits, with many freelance workers reporting that working on their own is better for their health.
4. Freelancing Offers Income Potential
Income growth opportunities in independent work are significant. The number of independent professionals earning $100,000 or more annually has grown to 4.7 million in 2024, up sharply from 3 million in 2020. Most importantly, freelancers say their income allows them to spend money on the things they value, suggesting that the financial benefits go beyond just the numbers.
5. Freelancing Contributes To Professional Development
Skill development has become a crucial factor in career success, and independent work provides unique opportunities for growth. Many freelancers are investing in upskilling, with the majority reporting that new skills directly lead to increased earnings and better client opportunities. Freelancing allows individuals to work on different projects with a diverse client base. This experience exposes them to new challenges and encourages continuous learning.
How Does Freelancing Compare To Traditional Employment?
Understanding the differences between freelance and traditional work helps explain why more professionals are making the switch.
Freelancing Gives You Control Over Your Career
Freelance workers have significantly more control over their professional lives. They can:
- Choose their clients and projects
- Set their own rates
- Determine their work schedule
- Define their growth path
Freelancing Offers Multiple Revenue Streams
The ability to diversify income sources provides greater security in today’s economy. As a freelancer, there are several ways to create multiple income streams:
- Online courses
- Consulting services
- Web development
- Graphic design services
- Affiliate marketing
- Sales of digital products
Freelancers Are Early Adopters
Independent workers are often early adopters of new technologies that enhance their productivity. AI is the perfect example. Thanks to AI, the most highly skilled freelancers are boosting their productivity and revenue. In a survey of builders in the A.Team network, 68% of respondents said that generative AI makes them more likely to pursue an independent career working for multiple companies. In addition, 92% said that AI tools increased their productivity, while 80% said that AI increases their earning potential.
Freelance Work Provides Market Reach
The freelance market is projected to grow past $500 billion by 2025. This demonstrates the size and potential of the freelance industry, making it a lucrative market for freelancers to tap into. It’s also a global phenomenon. Freelancers aren’t limited to working in a specific city or country. In fact, countries like Pakistan, Brazil and the Philippines are among the nations reporting the most rapid growth in freelancer earnings.
Freelancing Is Here To Stay
The shift toward independent work represents more than just a trend – it’s a fundamental change in how professionals view their careers and security. While traditional employment once offered predictability and stability, today’s independent workers are finding greater satisfaction, security, and success by taking control of their own careers.
By understanding the key factors that drive success in freelancing—from specialized skills to multiple revenue streams—professionals can make informed decisions about their career paths. The data suggests that for many, the question isn’t whether to consider freelance work but when to make the transition.