5 Industries Where Freelancers Can Thrive

5 Industries Where Freelancers Can Thrive

Freelancers are taking over job markets and industries around the world. Empowered by new technologies that allow a variety of jobs to be accomplished online, the freelance population has grown considerably in recent years, spanning a variety of new career prospects for both creative and technical professionals.

Over 53 million Americans are now working in the freelance economy, comprising over a third of the national workforce. With technology affording companies more opportunities to utilize this flexible labor market, more and more people are looking into joining this growing population of workers who aren’t limited to brick and mortar workplaces.

While choosing a laptop or navigating through IRS rules on freelancing can be daunting, many workers are opting for freelance work because of the flexibility and the prospects it offers. 

If you’re still not convinced, here are 5 industries where freelancers can prosper:

IT and Programming

The tech sector is the largest sector in the freelance economy with over half a million unfilled positions this year, according to USA Today. Jobs like software developers, testers, and IT security are at the top of the most in-demand employment opportunities in freelance platforms. In fact, competition in the tech sector is so fierce that Yoss reports that companies can afford to only hire from the top 1% of skilled tech workers.

As the demand for technical freelancers continues to be largely unmet, tech-related jobs offer some of the most lucrative opportunities for budding freelancers who know a thing or two about disruptive tech.

Design and Multimedia

Finding a niche is crucial in the freelance industry, and the design and multimedia sector is full of unique positions to cater to your creative passions. The Balance notes that while graphic designers and freelance writers dominate a large segment of the freelance community, there are many distinct jobs out there which can make you stand out. The small business site lists jewelry designers, event coordinators, and color consultants as some of the most high-paying creative multimedia jobs out there.

Sales and Marketing

Businesses rely on marketing to boost their sales and reach their target audience, that’s why it’s not surprising that this sector continues to rise in the freelance market. In fact, a CNBC editorial narrates how a finance specialist ditched his corporate job and made more money as a copywriter on Fiverr.

After leaving Goldman Sachs, David Feldman was earning $7,000 to $8,000 a month in writing SEO blog posts and articles. Consequently, he launched his own digital marketing agency using the same freelancing platform.

Administrative and Customer Support

Companies, especially startups, often outsource peripheral positions to concentrate on their core employment needs. This includes human resources, administrative positions, and customer support, which are in demand on freelance platforms.

While comparatively less lucrative than other industries, the low bar for access in administrative and customer support positions make them popular in the still burgeoning freelance market. The sector also hosts many of the full-time remote jobs on the market as the positions filled often entail continuous employment.

It should come as no surprise that freelancers who can provide legal services get paid pretty well. Freelancers doing legal consulting, fraud analysis, paralegal work, and contracts consulting are currently some of the highest paid fly-in experts in today’s remote workplace. In fact, the 2018 Payoneer Freelancer Income Survey revealed that legal freelancers are the highest-earning segment of the gig economy, with an average hourly rate of $28. The survey also revealed that despite the pay, freelancers providing legal services work the fewest hours on average – at just 33.6 hours a week.

With so many jobs to choose from, anyone can be successful in the freelance economy.