Freelancing Trends: The Future of Work Is Here

Freelancing is the future of work.
If you identify as a freelancer or a freelance worker, you work independently and take on projects with different companies rather than being a company employee.

These are the most common career fields for freelancers as of 2020:

  • Computer & IT
  • Accounting & Finance
  • HR & Recruiting
  • Editing, Proofreading, and Writing
  • Administrative
  • Project Management
  • Data Entry and Analysis
  • Software Development/Web Development/Technical Support
  • Videography/Photography
  • Graphic Design

The Statistics Relevant to Freelancing

A survey of over 7000 freelancers from over 150 countries by Payoneer showed that The freelance workforce is overall very young, with nearly 70% of freelancers surveyed being under the age of 35, and 21 % are under the age of 25.

This youth movement is even more pronounced in Asia where 82 % of respondents are under 35, compared to North America where the number is still high but closer to 47 %.

The worldwide average hourly rate charged by freelancers is $21, higher than the $19 average rate reported in Payoneer’s 2018 survey and significantly higher than the average salaries in many of the countries surveyed.

Freelancing is booming around the world, with a whopping 54 % in developed countries starting or planning to start their own businesses. Moreover, 64 % of those that currently have full-time jobs welcome the chance to earn more and broaden their skillsets.

To see more statistics on freelancing in 2020, download Payoneer’s Freelancer Income Report here.

Freelancing Trends

  • Opportunities to grow with international clients:

There is a lot of opportunity to grow your business as an international business, and you can look to platforms to help with that. These platforms **insert link to previous article on freelancing platforms**, especially those that integrate with trusted tools such as PayPal – can expand business globally and accept local currencies.

  • Payments come easy through platforms:

85% of freelancers surveyed cite PayPal as the most commonly used way to withdraw funds from freelancer platforms they use, stating ease of use as the reasoning.

  • Use appropriate invoicing software:

A survey of freelancers in the U.S. shows that 44% of those who have experienced not being paid believe it is because freelancers are not taken seriously.

The usage of accounting software like Wave Invoicing will help you stay organized with payment receipts and invoices. This saves time and helps you to focus on the work you’ve been tasked with while also positioning yourself as a legitimate business.

Read also: Freelance Websites You Should Know

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