On a Sunday evening, it’s easy to day dream about freelancing. You set your own hours, have an easier commute, and perhaps best of all – are clued into what might be the source of a fire that needs to be put out. It takes a leap of faith, a healthy savings account, a strong portfolio, the knowledge that you can deliver on projects, and a big leap of faith (worth mentioning twice).
The Good Cities project recently published a new infographic about work-life balance for freelancers around the country and plugs three statistics:
Yearly wage based on working 2000 hours a year – which means you’re working about a 40 hour workweek; cost of housing; and the difference is an indicator of affordability.
San Francisco: Yearly wage – 39,020; Home – 28,113; Affordability – 10,887
Los Angeles: Yearly wage – 34,340; Home – 24,536; Affordability – 9,804
New York City: Yearly wage – 35,920; Home – 26,645; Affordability – 9275
(I take issue with a universe where San Francisco has a higher Affordability score than Los Angeles, but let’s go with it for now…)
Check out the infographic– on What makes a Freelance Friendly City and judge how realistic it is for yourself. If you are thinking about taking the plunge, you’ll want to figure out what to charge for your time and services; figure out how freelancing is either like your first job or how you learnt everything you need to know about freelancing in kindergarten; and at the very least read/talk to about/with people on both sides of the fence.
As for me, it’s time to get ready for Monday morning.