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The Pros and Cons of Being an Independent Contractor, Plus Type of Jobs

As with anything, there are always upsides and downsides and being an independent contractor is no different. 

The pros are being able to work your own hours which you can have a flexible schedule.  Depending on the company, you may also be able to choose the work you want to perform or not perform.  This is a great way to work at home if you want to work part time or work when it is convenient for you.  This definitely gives you a balance between work and family.

The major con, for people, is the fact that you are responsible for your own taxes.  You must be diligent enough to set aside money for your taxes.  Also you do not receive health benefits so you will need to obtain your own health insurance, if your spouse already has benefits then this will not be a concern.  Next you will need to have your own retirement savings plan because you will not have retirement benefits through the company.  If you take a sick day or vacation time, this is done without pay.  You will not have sick days or vacation days as you would if you were an employee of a company.

Ultimately you will need to determine if being an independent contractor is for you.  If you need or like having guaranteed and steady income, need health insurance, and like knowing that you have sick days and vacation time then being an independent contractor probably is not for you.  Another factor, if you need a schedule to adhere to or a boss to motivate you then you probably will not succeed at being an independent contractor.  On the other hand, if you are a self-starter and can schedule your day to complete everything that needs to be done then being an independent contractor may be for you.  You will need to sit down and make your own list of pros and cons before deciding if an independent contractor position is right for you.

Types of Independent Contractor Positions

There are many types of jobs that you can obtain as an independent contractor, some will also fall under freelance work which I will discuss in another article.  Here is a list of a few types of positions you will find as an independent contractor:

A well-known position is data entry, you will be an independent contractor paid either by piece, call transcribed, or words typed. 

Sales Positions:  There are many companies that have inside and outside sales positions that are commission only and you are an independent contractor. 

Certain Medical Positions:  There are companies in the medical field that have positions that are independent contractors, a few examples are Medical Coders, Transcriptionist, and Validation Analyst.  Here is an example of one: a medical coder position http://www.codingnetwork.com/medical-coding-jobs

 

Writer:  There are numerous writing positions that hire independent contractors.  The topic needed will depend on the blog or website that is looking for articles or other content. View this freelance writing site to become a writer.

 

There are many other types of independent contractor positions.  Not all are work from home positions.  For example, there are delivery positions for various companies where you are paid per delivery like Postmates.  Plus, there are driving positions with companies like Lyft that you use your own vehicle and drive people to where they need to go.

As you can see if you choose to be an independent contractor there are many options.