Freelance vs Full-Time Income Comparison
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Compare the total annual compensation of freelance work versus full-time employment considering utilization and benefits.
NOTEAbout This Model
## Compare the total annual compensation of freelance work versus full-time employment considering utilization and benefits. This model estimates **Income Gap** based on uncertain inputs: Freelance Hourly Rate, Freelance Utilization Rate, Full Time Salary, Full Time Benefits Value. Run the simulation to see the distribution of possible outcomes.
VARIABLEFreelance Hourly Rate
triangular(50, 100, 150)
Typical market range for skilled freelance talent.
freelance_hourly_rate
VARIABLEFreelance Utilization Rate
beta(14, 6)
Factor for billable time vs administrative/marketing overhead.
freelance_utilization_rate
VARIABLEFull Time Salary
triangular(6.0e+4, 9.0e+4, 1.2e+5)
Base salary for equivalent full-time roles in the industry.
full_time_salary
VARIABLEFull Time Benefits Value
triangular(5000, 1.3e+4, 2.0e+4)
Monetary value of health insurance, 401k matching, and perks.
full_time_benefits_value
FORMULAFreelance Revenue
freelance_hourly_rate * 2080 * freelance_utilization_rate
Gross freelance annual revenue based on billable hours in a standard 2080-hour work year.
freelance_revenue
FORMULATotal Full Time Comp
full_time_salary + full_time_benefits_value
Total compensation for full-time role including base salary and benefits.
total_full_time_comp
FORMULAIncome Gap
freelance_revenue - total_full_time_comp
Income difference between freelance and full-time employment. Positive indicates freelance earns more.
income_gap
OUTPUTIncome Gap
income_gap
The annual income difference between freelancing and full-time employment. Positive means freelancing earns more; negative favors full-time. Accounts for benefits, taxes, and utilization rate.
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.