Before I even answer this question you have to ask yourself if this question comes out of inexperience or fear. If it comes from inexperience then you just don’t know that you can make way more money working for yourself than for someone else (I’ll get into it in a moment). If this question comes out of fear then you won’t work for yourself no matter what, you’re looking for a safe employee life and this post might not before you.
For all the employees out there the job that pays the best will always be sales. I don’t care how long you’ve been a doctor or lawyer a salesman can take you on anytime. Unless you’re a salesman who converted to a lawyer, but that just an unfair advantage.
No one will ever pay you as much as you would pay yourself
Do you really think that anyone will pay you more than they pay themselves? I don’t care how good you are there will always be a limit on how much you can make as an employee, and that limit all always be less than you deserve.
Let’s assume that you’re a plumber. Working for a large company you can make only so much, you will work a lot but you won’t earn as much as you should. As a self-employed professional you will always make more money. Let’s take another example, a lawyer.
Everyone’s parents try to push them to become a lawyer or doctor, a lawyer is still easier than a doctor so let’s use that. The first year you can make about $140k (notice I said can make, no one ensures that). That’s $11,660 a month, sounds good, doesn’t it? You’ll be working long days and have no life till you make partner, that is if you make partner. Take that amount and split it to 24 working days a month, that’s $485.
Now let’s get back to the plumber, and average house call should be over $200 and a hardworking plumber can make about 5 or 6 house calls a day (I know because a good friend of mine is a plumber).
Should a plumber make twice as much as a lawyer?
No way. The only way this keeps happening is that you will never get paid as much as you can as an employee. By the way, if a self-employed plumber can make up to $1,200 a day how much do you thing a self-employed lawyer can make?
How long can it take you to build your brand as a self-employed professional?
It depends on how hard you’re willing to work, and how fast you learn. It sounds simple but then again life IS simple, we complicate it.