Yesterday, I tweeted about how everyone keeps asking me the same question about life after my MBA: “Will you stay in your current job or apply to new companies?” I’ve been asked this by many people online, as well as all my friends, family, and MBA classmates.
My plan is to stay in my current position. This led to another question from a few people: “Why don’t you go the self-employed route?”
Some people have different opinions on self-employment. For example, the girls at So Over This and Savvy Financial Latina have opposing views. I’m still unsure where I stand. While being self-employed sounds great, I also appreciate the stability of a regular paycheck.
A common misconception is that self-employment is easier. I believe it’s quite the opposite. You’ll have to handle various roles and tasks, which can be very time-consuming, especially at the start.
Self-discipline is crucial for success in your own business. Since you’ll be your own boss, managing your hours and workload, you need to follow a schedule to stay on track. No one will be there to push you or set deadlines.
Here are some benefits of each option:
Benefits of being self-employed:
1. You get to be your own boss. If you don’t like working for others, this is a big plus.
2. Your business might be something you’re passionate about or enjoy doing.
3. You can set your own hours. If you’re not a morning person, you can start work later.
4. You have control over what you sell, make, market, and advertise.
Benefits of being an employee:
1. You won’t bring work home with you. Self-employed individuals often dedicate much more time to their work.
2. You get steady paychecks. Self-employment can mean fluctuating income, especially in the beginning.
3. You receive benefits like vacation, health insurance, and more, often covered by your employer.
4. You enjoy working with others. Self-employment can be isolating, especially at first, while being an employee allows for more social interaction.
So, do you want to be your own boss or have a boss?