7 Advantages of Working for an Employer ...

One of the massive advantages of working for an employer is that you have a regular salary coming in. Knowing how much income you have every month makes it much easier to plan your finances. You also have a degree of security - unlike the freelancer who never knows what's coming in from one month to the next! It's also easier to get a loan - mortgages for example, are much more accessible if you have a regular pay check.

The benefits that come with a regular salary can be substantial. Things like pension contributions, medical coverage, paid sick leave and paid vacations can really add to your basic salary. Having healthcare coverage is particularly valuable in the US. I haven't had a vacation in years because I can't afford one - and if I'm sick, I don't get paid …

Freelancers are constantly looking for new sources of work. They need several income strands in case one dries up. Employees, on the other hand, generally don't have to look for the work - it comes to them. And if a client fails to pay, the company can afford to take legal action.

When you work for an employer, there are career opportunities open to you. You can seek promotion, and move to another firm if you get a better offer. Working for yourself doesn't have the same structure and options; unless you start a company and become an employer yourself, you won't move up in the ranks.

Don't even think about giving up a job for self-employment if you like being around other people. Being self-employed is a very lonely way of working, and you may not see people from one day to the next. You won't have colleagues to socialise and chat with. The bigger the firm, the more contact you have with others.

Admittedly, no job is 100% safe, but you do have a degree of security with many jobs. You have employment rights, so that you can't be fired without reason, and are entitled to payments if your job is cut. If you're buying a house or planning a family, you need to have some job security so that you can afford these life changes.

Of course, many jobs are highly responsible but when you work for yourself, you've got all the responsibility. There's nobody else to lean on when things go wrong, and you will probably have to work much harder than you ever did as an employee. When you have bosses, there are people to turn to and who have the ultimate responsibility when things go wrong.

You really need to have the right temperament to be self-employed. It works for me, because I'm happier working away on my own. I don't wish that I had a regular job - but if you're thinking of giving yours up, it's important to be realistic and be aware that self-employment isn't an easy option. Would you rather be self-employed or work for a boss?