Freelancing is the most common form of employment in the media industry. Freelancers work for other companies on specific jobs. They have to pay their own taxes. Freelancing is based a lot on your reputation. Anyone can become a freelancer and there are no requirements needed to become one. Becoming a successful freelancer can help your networking and can help you make a lot of contacts. As you are not always employed it can be very stressful and inconsistent. You can go months and sometimes years with no work, then you could get lots of job offers come in at once and have to turn them down. Even if you are working on a short term contract for a smaller film and a larger company offers you a job if you take the job, although you will be working on a more recognised film you would then be almost unemployable because you would have a bad reputation for leaving jobs.
If you are employed in the media business then you are earning a steady income. It is a lot less stressful as you don’t have to worry about money and finance as much. Generally it is more successful companies that employ their crew. A common form of this is working for a news network like BBC news. Being employed can not suit some people especially if they were previously working in freelance as there is a lot less variety when being employed. The most common reason to get employed in the media is because you have children and you need a steady income to provide for them.
If you are self-employed then you are running your own business . You have to pay your own taxes. You find the client and employ them and pay their salary. A pro of self-employment is that you can choose the project that you want to work on, you are in control. Being self-employed gives you a possibility of breaking through and making it big. There are a lot of risks involved mostly financial. You will have to have a lot of money to start with to fund your project and to pay your employees. This will probably require getting a large loan.
We were asked to plan our ideal situation for when we get to 30.
2018-2022 I would like to study film at Kent University and have looked into it and have found one with a placement year which will make it a lot easier to make contacts and get experience
2022-2023 This is when I search for a job and get employed as an editor. The things I will have learned here and at university will help me with this.
2023-2027 The money I make as an editor will help me fund my own project. This will either be a YouTube channel or an action film.
2027-2029+ I am now 30 and I am now self-employed as a successful YouTuber or I am directing a successful action film franchise.