Freelancer vs Fulltime Job
When it comes to hiring full-time employees, their salaries are usually calculated on an annual basis. Most of the time, companies will not hire freelancers all year round. One of the benefits of hiring freelancers is to hire them whenever you need them — this means most freelance hires will likely be short term engagements. Though unlikely, for comparison’s sake, we will calculate the annual salary of both full-time employees and freelance developers. We will use this equation to formulate their annual salary:
Freelance hourly rate x average hour (1790 hrs) = Annual Salary
Software developers’ annual salary varies depending on their working experiences. PayScale shows the range of annual salaries, excluding outliers, for software developers with 5 years of experience. We will focus on the median annual salary for software developers: $112,921. Next, let’s look at freelance developers’ annual salary.
The cost of hiring freelance developers varies significantly from one country to the other. the range of hiring freelancers in North America goes from $50 to $250. The range is significantly lower in Eastern Europe and in India.