Fractional freelancing: pros & cons
My take on the not-so-fulltime, fulltime role. Molly-Mae and Instagram's hideous revamp.
When I first started freelancing I didn’t realise that Freelancer wasn’t a job description. It’s a title (of sorts) but I’ve since learned that there are many, many different ways to carve out a career freelancing and they all depend on how you decide to package up your services.
I talk about this in-depth in Thriving Freelancer but one thing I wanted to look at in detail, is fractional freelancing.
Fractional freelancing is a good way to describe a role that’s somewhere between being a traditional freelancer (removed from the company, working on a specific task or project) and an employee (fully within the company, where your role is varied and priorities may change). I’ve never personally used the term fractional, preferring “Interim” Head of Marketing/Content etc. but the role is the same.
Fractional freelancers are mostly still self employed, responsible for their own tax, holidays, invoicing and so on, but they often get some of the perks that traditional freelancers may not get, such as access to equipment and software. In previous fractional roles I’ve been paid for my Christmas break, invited on company away trips and been sent make your own Dishoom breakfast kits, just like the fulltime team members. Which is not to say that they balance out certain aspects you lose when you’re not a fulltime employee, but I mention them to show how fractional freelancing is often perceived differently internally than just being a freelancer on a job.
Of course, with every different business model, it’s not all bacon baps and team-building escape rooms. Here are the pros and cons I’ve found in the fractional roles I’ve taken on:
Pros -
Stability in regular work and income
Fractional work is bit like being an employee. Usually you get paid monthly around the same time (top tip: I once got a client to sync up my payment with their payroll which meant end of the month was once again a thing to be celebrated!). The contract is often rolling so you don’t have to worry about getting in new work constantly . I tend to pair fractional roles (1-2 at most) with shorter term project work (4-6 weeks) which means I can use the fractional income to pay myself, and save the project work money or use it to reinvest in the business etc.
Makes it possible to earn 3 or 4x your original salary
One of the things I’ve spoken about before is how freelancing has allowed me to navigate the motherhood penalty where if I worked in a fulltime role for only 3 days per week I’d earn a pro rata salary to match. For anyone who’s navigated this, you’ll know that even returning 4 days has a huge impact on your salary, holiday allowance and benefits like pension contributions.
Whereas with fractional freelancing you can work 2-3 days per week with a client and earn the equivalent of a fulltime income without sacrificing your earnings or your time with your kids (or other commitments).
Before children I could easily work two fractional roles at once, with project work on top and it never felt even half intense as a fulltime role. Which leads me on to…
Work that’s your bread and butter
Usually in a fractional role you’re doing the equivalent of a role you’ve previously done in a fulltime, employed capacity. Which means it’s work that you’re a. Very good at and b. Very experienced in. Both of which, mean it’s an enjoyable and manageable role, as opposed to a project or contract that’s really going to stretch your capabilities and experience. The latter of which, is also nice of course, but depending on which season of your career you’re in, sometimes it can be nice to do the familiar.
Cons -
Scope creep
Unlike project work there’s less defined boundaries on what you work on as a fractional freelancer and this does mean that “scope creep” (where your tasks or remit go beyond what was agreed) can be a problem. When I begin a fractional role I quantify what I’ll work on but sometimes this can be as broad as “create the marketing strategy” or “manage the events schedule”. For that reason, it’s not always clear cut how long the work will take or what there is to do.
For this reason, I’ll often quantify my fractional roles in either days per week, or in terms of remit, so that I can ensure I have the capacity. In terms of delivery I then have to find the balance between not burning myself out, and ensuring my clients feel like what they’re paying me is money worth spent.
However, if the fractional role seriously creeps beyond what you’d initially agreed or the hours you’d allocated to their company I do think it’s possible to renegotiate with clients. I’ve done this a couple of times and it’s never been a problem, especially once we’ve been working together 6-ish months and they can see the value I bring.
Less switch-off
Unlike regular freelancing with a fractional role you’re very embedded within a company. Which means that you may feel more obliged to reply or cover your workload during periods of vacation, or even on weekends. I’ve certainly found I have less switch-off in fractional roles, and due to their ongoing nature, it can sometimes feel like a really exhausting hamster wheel where you’re not just doing a fulltime job, but doing it for three companies at once. See how that could get pretty tiring? I’ve personally also found that my fractional roles tend to go on…. and on. Which of course I’m extremely grateful for, but it does mean that to change projects or replace the role with another client I have to finish the contract - which actually feels very much like leaving a company! My top tip for this is just to be totally honest and also offer to help recruit and train your replacement. Whenever I’ve left a fractional role in this way it’s always set me up for future referrals and recommendations, as they’re happy they’ve been left in excellent hands.
So in summary, I think fractional freelancing can be a great way to enjoy the perks of being an employee, which still having variety, freedom and unlimited earning potential. You just have to be careful not to get burned out along the way.
Have you freelanced in a fractional capacity and if so, how did you find it?
Yours, partial to a bit of fractional,
Beth
Thoughts and useful things 👇🏼
If you haven’t already seen the Prime show following influencer Molly Mae, it’s a highly interesting look at how she’s built her empire to become the UK’s most popular influencer. I actually found it quite an inspiring watch as we rarely see someone acknowledge the amount of worth, curation & ruthlessness that goes into such a mega personal brand.
For anyone else who can’t stand the new vertical Instagram grid design, friend of the newsletter Georgina @Fitcetera shared this hack with me that lets you readjust your previews ⭐️
Due to the Supreme Court upholding the ban on TikTok, the platform appears to have gone dark in the US (may not be permanent). The fallout? Instagram extending reels to 3 minutes (plus the vertical - another TikTokification of Instagram), and a sleuth of TikTok Creators sharing all the things they’ve lied about on the platform like workouts, and coffee reviews where they never really tried the coffee 😳
I found myself in a rabbit hole of the wonder that is Eman @emancopyco’s podcast this weekend called Mistakes That Made Me and highly recommend it for the ambitious service-based business owner if you need a new listen!
Thank you & I need new headshots*
Hi I’m Beth 👋 a freelance marketer who helps manage and execute marketing for startups and growing businesses 🚀.
I’m currently working on marketing execution and strategy for a few growing businesses part-time around two small girls and love writing this newsletter to share thoughts on marketing, business and freelancing whenever I can.
You can find out more about what I do on My website or Built by Content.
*Which will join the list of all the many things I need to do on my websites/socials etc…
Great read Beth 👏