Is it better to be self-employed or to work full-time for a company?

In today’s era, many youngsters choose to become a freelancer instead of working for companies. Some might claim that working as an independent proprietor is advantageous, while others think that working for an employer provides greater benefits. In my opinion, the merits of being employed are superior to those of being an individual contractor. On the one hand, it is indisputable that being self-employed has advantages. The income potential of an individual contractor is higher than full-time employees. Accordingly, contractors often earn a higher hourly wage than full-time employees due to a lack of benefits and shorter employment terms. In addition, once proprietors build a solid reputation, they can take jobs in any domain when they need the cash. On the other hand, I believe that the benefits go with working as a fixed-employee for a company outnumber those of being self-employed. First, employed people can have a steady income. When employees earn a set amount every month, they manage to budget and plan for big expenses, such as saving up or going on a holiday. Besides, even when the company is responsible for any loss, the employee’s salary has nothing to do with it because it is fixed when a person signs a contract with the company. What is more, being employed for a business means receiving more social security benefits. To illustrate, employers will offer sick pay and set return-to-work policies for those who have extended periods away from work. Therefore, workers’ rights and incomes are ensured even if something distracts their work. In brief, both being self-employed and being a business employee have several merits. However, I believe that joining an organization is a better option where assures both income stability and employee’s rights.