A 31-year-old freelancer who quit the job she hated and now makes $200K a year debunks 3 of the biggest myths she's encountered about becoming your own boss
- At 31, Morgan Overholt found herself stuck in a job she hated, feeling underpaid, overworked, mistreated, and creatively stifled.
- Today, she's a full-time freelance graphic designer earning $200K a year, working out of a corner office in downtown Miami.
- Below she describes her journey to career satisfaction, as well as the three big myths she encountered along the way.
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I've always dreamed of having a high-profile corporate career. I knew that if I just worked hard enough, one day I'd have my name on the door of my very own corner office in some beautiful big-city high rise.
However, at just 31-years-old I found myself stuck in a job that I had grown to hate. I felt underpaid, overworked, mistreated, disrespected, and creatively stifled.
And so, one rainy April morning, I walked into my boss's office, told her I was done, and sought out to achieve the success I so desired — on my own terms.
Today, I am a full-time freelance graphic designer earning $200,000 a year, working out of my own corner-office in downtown Miami.
Although perceptions of freelancing are becoming increasingly positive as more professionals adopt this lifestyle, I find that there are still a host of misconceptions about this career path.
Here are a few of what I have found to be some of the most popular myths, debunked, and how freelance has helped me create the kind of career that I never would have been able to achieve with a traditional employer.
Myth 1: "Freelancing is unstable, and there's a lot of uncertainty."
My income is much more stable than that of a traditional "9-5" worker.
People lose their jobs every day due to circumstances beyond their control — recessions, layoffs, or simply being on the wrong end of bad office politics. If you haven't been through it personally, I am sure you know someone who has, and it's heartbreaking.
When you work a "regular" job your employer holds your fate in their hands. It's like having all of your eggs in one basket. I, on the other hand, have multiple sources of income, and no one is in charge of my fate except me. I've procured several large contracts and I know what to expect each month.
Worst case scenario, if I lose a contract, I simply replace it with another. Who knows, my next contract might have a bigger budget with even more hours. Career opportunities for freelancers are seemingly endless.
Read more: The ultimate guide to going freelance — and making more than you did at a full-time gig
Myth 2: "You can't earn enough money to make a living."
As a salaried employee, I was making $75,000 a year and regularly being denied raises. In my last job, I was told I would have to wait years before being considered for a pay increase.
Today, I average $200,000 a year and am seeing constant, steady growth.
And I'm not the only one — according to new data from Upwork and Freelancers Union, 82 percent of freelancers say they earn more than their peers with the same or similar experience level in the same line of work.
Clients want quality and are willing to pay for it; a professional freelance graphic designer can command rates as high as $200/hour (or more!).
Myth 3: "Freelancing is a fad."
Freelancing is not a fad. As a freelancer, you're running your own small business, and I have no plans of ever returning to a "regular job."
Like many other freelancers and small business owners, I am proud of the career that I've built — and trust me, once you get a taste for that freedom there's no going back.
According to the same study, 76 percent of freelancers say they feel happier now than they did in a traditional job. Even more telling, 54 percent say there is no amount of money where they would return to a traditional job.
After all, who wouldn't prefer setting their own hours, setting their own pay, and being their own boss?
The number of full time freelancers has grown by 11 percent in the last five years with over 3.7 million US workers opting for this nontraditional career path.
Today, I work with nationally recognized clientele on a regular basis, like the CDC Foundation (CDCF), Kimberly-Clark, and the National Library of Medicine (NLM). I truly believe these kinds of opportunities would have never come by way had I remained a salaried employee.
And the fact that more and more well-known companies and organizations are looking to expand their workforce with freelancers suggests that freelancing is more than a fad, and instead, here to stay.
If you are feeling stuck in your current situation and considering making the leap to the freelance lifestyle, don't wait like I did. Do your research, hone your skill set, and utilize every tool in your arsenal. Put yourself out there and see what happens.
Remember, nothing worth having comes easy — but with the right amount of hard work and dedication, success is absolutely possible. Freedom awaits.
SEE ALSO: The ultimate guide to going freelance — and making more than you did at a full-time gig