The Tech Freelance Economy: Pros, Cons, and How To Succeed
With the growing demand for tech professionals - software developers, DevOps engineers, Cloud engineers, Product designers, etc.- a career path in tech seems like the next best thing for everyone these days.
The opportunity to work remotely appears to be one of the biggest perks of a 21st-century Tech role/job, making a career in tech one of the easiest ways to do meaningful work that pays you enough.
However, it might interest you to know that a tech career or job isn’t always what it seems on the outside. In fact, Tech isn’t always the knight in shining armor that it promises to be, and landing a remote tech role might just be you getting back in the rat race from the back door.
Well, the statement above doesn’t apply to everyone. There is a little class of techies, people who seem to be enjoying the best part of tech, doing high-paying tech freelance gigs, earning so much, and fulfilling their purpose.
So, what’s that fine line that separates people in tech? What’s the tech economy really like? Is Freelancing in Tech as much of a viable option as it is said to be?
What are the chances of making it big as a Tech Freelancer? What are the best platforms for tech freelancers? What are the odds stacked against you as a Tech Freelancer in Africa and Nigeria?
The answers you seek are all in the succeeding paragraphs. So, keep reading.
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The Tech Freelance Economy (Overview & Statistics)
The digital revolution that began in 2018 transformed the concept of work, deemphasizing the idea of growth through permanent staffing to something more flexible - Freelancing and Remote Work.
Dr Journal says, “The digital revolution means that, for many online or software-based jobs, it’s no longer necessary for a candidate to be within a commutable radius. In fact, they don’t even have to be on the same continent. More and more, companies in the US, Australia, and the UK are outsourcing.”
The rise of digital platforms and the advent of swift international payments through decentralized currencies further quickened the Tech Freelance Fever.
The results of a survey carried out in 2024 show that as of 2024, over one and a half billion people globally are engaged in freelance work. Tech Freelancers probably make up one-third of this population.
In 2023, the global freelance market was valued at approximately one trillion dollars, with a projection of an extra half trillion by 2026.
This figure serves to further imply that the Freelance economy is on a steady rise, with more and more people quitting regular jobs to become freelancers.
Legit.com offers the following statistics regarding the Freelance Economy:
“ 1. The Average Freelance Hourly Rate Globally Is $19
2. Freelancers Offering Skilled Services Earn $28 an Hour
3. 31% Of Freelancers Will Make $75000 Annually Or Even More
4. 60% Of Freelancers Who Ditched Their Jobs For Freelancing Earn More Than They Did At The Jobs
5. 24% Of Freelancers Who Earned More Ditching Their Traditional Jobs, Did So Less Than 6 Months, 33% Did Instantly.”
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