NJIn the digital era that we live in, people have started escaping the concept of 9-5 to hop into the field of freelancing.
The freelance industry is experiencing rapid growth as it comes with the flexibility of working hours and you can work from wherever you live.
In this article, we are going to talk about freelance statistics in terms of popular freelance platforms, the highest-paying freelance jobs, the growth of this industry, and a lot more.
Let’s start with some of the most important freelance statistics…
☑️Key Online Freelance Statistics
- Talking about the global workforce, 35% of the global workforce are freelancers.
- This means that 1.1 billion out of 3.5 billion workers out there work as freelancers.
- The Male to Female ratio of freelancers is 65:35.
- 71% of freelancers are into freelancing because freelancing allows flexible work schedules.
- According to a Freelancer Study 2022, conducted among 2610 freelancers, top 3 reasons to become a freelancer includes independence (76%), higher income (49%) and flexible hours (47%).
Reasons To Go Freelance
Source: Freelancer Study 2022
- According to the same study, nearly 50% of freelancers said project acquisition is the main disadvantage of freelancing, followed by irregular income (44%) and late payments (37%).
Main Disadvantages of Freelancing
- 75% of freelancers state that they won’t trade their freelancing job for any other kind of work.
- 55% of freelancers have their full-time jobs and are freelancing alongside.
⬇️Current State of Freelancing
The freelance industry has seen dramatic growth as with every passing day more people are leaving their good old 9 to 5 jobs and moving towards a more flexible way of working.
Therefore, today, we can surely say that the freelance industry will grow further.
Let’s take a look at what the statistics have to say:
- From 2014 to 2019, the percentage of people working as full-time freelancers has grown from 17% to 28%.
- It is observed that many jump into freelancing with the thought of it being temporary. However, the number of people taking it up as a long-term work opportunity has grown from 18.5 million in 2014 to 28.5 million now.
- The number of freelancers in the U.S. has increased from 53 million (one-third of Americans) in 2014 to 59 million in 2020. This figure is projected to reach nearly 90 million by 2028.
Number of Freelancers in the U.S. from 2014 to 2020
Source: Statista
- Approximately 51% of the adult workforce of the United States of America will work as freelancers in the upcoming years.
- During April and June 2020, the overall market share of freelancers has seen growth by more than 25%.
- In the UK growth of 14% has been seen in the number of people working as freelancers in the last 10 years.
- Nearly 63% of people reported they’d prefer to work as a freelancer, while 37% still prefer traditional jobs.
Source: Upwork
- 64% of people working as freelancers found work online.
- Facebook, LinkedIn and Instagram are the most preferred platforms by freelancers to promote their services.
Social Media Channels Used by Freelancers for Promotion
Source: Payoneer
💰How Much Do Freelancers Make (Freelancer Income statistics)
The best part about freelancing is that both skilled professionals and unskilled workers can manage to earn enough as there is a market for both types of workers.
In this section, we will take a look at the statistics of how much the freelancers earn and how it varies from one industry to the other.
- Approximately $1 trillion is contributed to the American economy by freelancers. Or you can say that about 5% of the total GDP of the United States of America is the contribution of freelancers.
- Globally, the average hourly rate of a freelancer is $28, compared to $19 in 2018.
The Worldwide Average Hourly Freelance Rate by Regions
Source: Payoneer
- In the South America, women’s average hourly rate is higher than men’s, compared to other regions.
Source: Payoneer
- As per 60% of freelancers, they make more money by freelancing than they earned from their previous jobs.
- The average hourly rate for graphic designers is $45 on Upwork.
- The Median Hourly Wage is $20 for unskilled workers and $28 for skilled workers.
- Up to $250 an hour can be earned by Freelance copywriters.
Highest Paid Freelance Jobs
In this section, let us take a look at the statistics of the highest paying freelance jobs:
- On average, a content writer can earn anywhere between $10 to $80 per hour on Upwork
- Skilled services are the most common kind of freelance work.
- More than 33% of freelancers grab a hold on jobs through referrals.
- Software engineers and coding are the two fields that are high in demand and these jobs can pay up to $1000 an hour.
- The art and design industry consists of the most number of workers as freelancers.
Source: Upwork
- Entertainment and construction fields also have the most people working as freelancers, at 55% each.
- Several freelance websites allow freelance graphic designers to earn up to $85 an hour.
👥Largest Freelance Platforms
Some of the largest freelance platforms include Upwork, Freelancer.com, and Fiverr. Did you know that 33% of the Fortune 500 companies look for freelancers on freelance sites in order to outsource work? Let us quickly take a look at the statistics:
➡️Upwork
1. More than 17 million people use Upwork. 2. Upwork earned $87.5 million at $0.15 per share in the last quarter. 3. Freelance writers can earn $15–$80 an hour through the platform.
➡️Freelancer.com
- Freelancer.com provides more than 19,000 jobs currently.
- There are more than 31 million users on the site.
- More than 14,000 freelancers are available to work on the site on a daily basis.
➡️Fiverr
1. A freelancer gets a job every 4 seconds on Fiverr. 2. More than 2,000 graphic designers are specializing in WordPress development and over 9,000 logo creation. 3. There are more than 7 million users on Fiverr.
Freelancers: Maintaining A Balance Between Work And Life
When it comes to freelancing, the balance between work and life can get hampered, because working from home can make it difficult for you to create an everyday schedule.
Here are a few interesting statistics that revolve around the balance between work and the life of freelancers.
- 84% of freelancers say that they are satisfied with their current working position and scenario.
- Up to 4 projects are handled at a time by 70% of freelancers.
- A majority of Millennials (87%) stated that they prefer freelancing as it gives you the freedom to schedule on your own.
- As per 25% of freelance workers, they find it comfortable to work from home.
- 20% of workers in the field of freelancing say that a coworking space is preferable.
- 2% of people working as freelancers state that it is ideal for them when they work in outdoor environments for example, as coffee shops.
Freelancing: What Does The Future Hold?
Consequently, what is the future of freelancing? A lot has changed since the pandemic hit the world, and freelancing has a bright future.
- 90% of people living in America are willing to work as freelancers.
- 52% of freelance workers are people between the ages of 18 to 22, and they are more likely to continue with freelancing.
- 59% of freelancers say that they will continue to work in this way in the future.
- Business-related training has been taken by 65% of skilled freelancers.
- 67% of people working as freelancers expect a rise in their income in the future.
- 48% of workers see themselves working as freelancers in the long-term.