You Deserve More Than Corporate "Perks"
What you give up vs. what you gain.
Gym membership. Stocked fridge at the office. Unlimited PTO. Companies often try to lure employees in with "perks" to make a role more attractive.
But the tradeoff might be endless meetings, toxic coworkers, long hours, and rare promotions. Perks are your consolation prize (barely) for putting up with corporate life.
When you start working for yourself, you give up those so-called perks — along with some of the stability that corporate jobs promise to provide.
But I wouldn't trade being my own boss for all the corporate perks in the world. Instead, I get to create my own benefits.
The Corporate Perks You Give Up
The benefits of a corporate job aren't just the perks listed under "Why should you work here?" on a job posting. Even companies that don't offer cool perks like a wellness stipend or employee discount program have some baseline benefits that you'll no longer have access to.
A backup person
When you work for a company, there's usually someone to cover for you when you're sick or on vacation. That's completely gone when you're working for yourself.
It can be tough to adjust, because it feels like you can never take time off. Illness might put you way behind with client work. Or you feel like you can never take a vacation.
These aren't completely true, but they definitely require more planning. You can't simply call in sick or put in a vacation request and know someone else will take care of the work.
Providing your own equipment and supplies
No more company-provided laptop, or anything else you might need. You have to plan and budget for these purchases yourself.
On the flip side, you might make different equipment choices than an employer would dictate. My prior employers always gave me bare minimum laptops, which I often upgraded myself with an external monitor and additional RAM. But I know other people have had employers who provided top-of-the-line equipment.
In which case, what you buy (or can afford) as a self-employed person might feel like a downgrade.
Anna Burgess Yang
Access to retirement and tax-advantaged accounts
No more company-sponsored retirement plans. And if you're in the U.S., your employer may have provided tax-advantaged accounts, like FSAs or HSAs.
Some of these are possible if you're self-employed (like a solo 401k), but you have to figure them out and manage them yourself.
Bouncing ideas off someone else
Self-employment can come with a lot of loneliness. Even if you're working with clients, you likely spend a huge chunk of your time working by yourself. If you get stuck on something or have a question, who can you turn to?
I'm a big fan of communities, but it can be hard to find the right one. You want to find one that's the right "fit" - the right size, the right expertise, and the right level of engagement.
Are the perks worth it for you?
If you're thinking about self-employment, you're probably asking yourself: is it worth giving up all the perks that come with a corporate job?
Throughout my experiences with corporate jobs, I've had the following:
- 401(k) plans with a company match
- Unlimited PTO and paid holidays
- Health insurance
- HSA and FSA accounts
- Home office stipend
- Wellness stipend
- Reimbursement for professional development, like taking classes or books
Plus, the promise of a steady paycheck.
But in reality, all of those things can disappear in an instant. I was laid off from one of my jobs. Overnight, everything was gone.
Plus, I've also dealt with toxic co-workers, burnout, long hours, incompetent leadership, and general chaos.
When you work for yourself, you're in charge of your future. It feels scary (it is scary!) but it's also empowering.
I've created my own set of "perks."
- I set aside money every month so I can "pay myself" to take time off.
- I get to choose the tools and apps I want to use for my business
- I've paid for professional development, like courses and coaching
(Plus, business expenses are a tax write-off in the U.S.)
I also don't have to ask anyone's permission to grow, pivot, or take a break. The amount of work I take on? Up to me. Potential clients? I can turn them down if they're not a good fit. Need to take some time off? Whenever I want (as long as I make sure I deliver the work I've promised to my clients).
Anna Burgess Yang
Freedom is the best perk
If you leave your job, maybe you give up some of the perks of corporate life. Maybe you can't afford to re-create those perks for yourself (at least, not in the beginning).
But the greatest perk you'll gain is freedom. You get to build something that's yours — not clock in to contribute to someone else's dream.
Check out my free eBook: 17 Smart Tools Solopreneurs Need to Start, Grow, and Scale.
