September 15, 2017
New stats from LinkedIn ProFinder — a service connecting white collar freelance professionals with individuals and small businesses — have revealed the numbers behind the top freelancer pros’ revenues. For almost 20 percent of those in LinkedIn’s program, freelance work is definitely rewarding: That’s how many self-report making the equivalent of a six-figure or higher salary.
Here’s the news, along with data on the state of freelance legislation and what it means for the future of freelancing.
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First, the information you came for:
“Our data also reinforces that this line of work can be highly lucrative. Nearly 20 percent of freelancers confirmed they’ll make six figures or more this year with their freelance work,” the Linkedin ProFinder blog explained.
But the fact that these freelance pros found their work personally rewarding was essential, as noted by several anecdotes from those polled for the above statistic.
Freelance Laws Are Changing
In May 2017, New York City passed the Freelance Isn’t Free Act, which offered protections to freelancers by giving them the right to specifically the right to three things: a written contract, a timely and full payment, and protection from retaliation.
LinkedIn’s poll numbers explain why these laws are so useful: Over three fourths of even the best freelancer pros say they have “experienced issues” getting paid, and almost a fifth say it happens between three and six times per year. Those numbers are mirrored by a more broad survey conducted by the Freelancers’ Union, which found 70 percent of independent workers have “faced trouble getting paid.”
As a result, 75 percent of those polled by LinkedIn agree laws like NYC’s are needed to protect freelancers, and 70 percent say other cities should adapt similar laws in order to promote a healthy class of freelancers.
And lawmakers are taking note: Seattle’s mayoral candidate Cary Moon, for example, is pushing for a freelancer bill of rights in her hometown.
“Moon today unveiled her proposal for a freelancers bill of rights. Her proposal includes requirements for companies to pay freelancers within 30 days or face penalties, anti-retaliation protections for freelancers pursuing payment, mandatory contracts for work that totals more than $800 during a four-month period, and prohibition of some non-compete agreements,” Seattle’s The Stranger reported last week.
Hopefully, these laws will continue going through in cities across the nation. After all, we don’t all make six figures.
Read more about the future of freelancing here at TechCo
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