If you thought working for an employer was the best option then it’s time to reconsider, as new research shows self employed people work 10 hours less a week.
Not only that, but the research also shows that they make £5000 more per year than the average salary, bringing in £33,000 a year compared to £27,000.
This includes umbrella contractors of course, and it doesn’t surprise me one bit as I’m always hearing stories of people who quit their job to become self employed and are now making more money working for themselves.
These statistics were all taken from the “definite study of the self employed” where 5,010 people in the UK were surveyed. Of those asked, 67% commented they were now better off financially now than when working for a boss, with 65% saying they now have more time to do the activities they want.
I’m sure they do, because when you think about it, if self employed people work 10 hours less a week, then based on a 5 day working week that is an extra 2 hours a day. Who wouldn’t want that? It’s much better to be spending time with family and friends rather than sitting at an office desk or being in traffic on the way home.
It’s also worth noting that many self employed people do work from home, or are at least based from home. This means that the commute is often no longer there, which means the time you save from working for yourself might even be more than 10 hours a week.
So why are more people than ever before starting to look at becoming self employed? When asked in the survey, 77% said they wanted more control of their work day, while 65% said the thought of being their own boss was something they liked.
Interestingly, 47% mentioned that lack of workplace politics was a motivating factor. This is something that I hear a lot, as it seems that many companies are now more like a high school drama than a place of work.
It’s much better to work on your own in my opinion, although this isn’t something that appeals to everyone. Some people would prefer to have the office politics I guess, and if that is your thing then becoming self employed might not be for you.
Although the research does show that self employed people work, on average, 10 hours less a work than people who have a job, don’t forget that it is not always like this at first. When you start working for yourself you might have to work more hours, so make sure you are aware of that.