Freelance vs Full-Time Income Comparison
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Compare the annual financial outcome of freelancing versus full-time employment considering utilization and benefits.
NOTEAbout This Model
## Compare the annual financial outcome of freelancing versus full-time employment considering utilization and benefits. This model explores how **Income Differential** could play out, depending on Freelance Hourly Rate, Freelance Utilization Rate, Full Time Salary, Full Time Benefits Value. Hit **Run** to see the range of possibilities.
VARIABLEFreelance Hourly Rate
triangular(25, 87.5, 150)
Freelance rates vary significantly by industry and experience level.
freelance_hourly_rate
VARIABLEFreelance Utilization Rate
beta(13, 7)
Billable hours typically range from 40% to 90% after accounting for admin and marketing.
freelance_utilization_rate
VARIABLEFull Time Salary
triangular(4.0e+4, 8.0e+4, 1.2e+5)
Standard base salary range for comparable full-time roles.
full_time_salary
VARIABLEFull Time Benefits Value
triangular(5000, 1.3e+4, 2.0e+4)
Estimated cash value of health insurance, 401k matching, and other perks.
full_time_benefits_value
FORMULAAnnual Freelance Income
freelance_hourly_rate * 2080 * freelance_utilization_rate
Annual freelance income based on hourly rate and billable hours (assuming 2080 standard work hours).
annual_freelance_income
FORMULATotal Full Time Comp
full_time_salary + full_time_benefits_value
Total full-time compensation including base salary and the value of benefits.
total_full_time_comp
FORMULAIncome Differential
annual_freelance_income - total_full_time_comp
The income gap between freelancing and full-time employment. Positive means freelancing pays more.
income_differential
OUTPUTIncome Differential
income_differential
Track the income differential output
What is Carlo?
Carlo is a visual tool for Monte Carlo simulation. Model uncertainty by dragging probability distributions, connecting them visually, and running thousands of scenarios instantly.