Which one better, Work From Home OR Stay In The Corporate World?

Quite a number of factors pushed me to start seeking new opportunities. Looking back, I spent almost 9 years in my first job; now, in my second job, I thought I would be able to beat that record—but I may not be able to. August 6, 2010, marks my 3rd year. Six more years to go, or is it time to leave?

My aggressive search for new employment has started to reap some responses. On the other hand, an internet entrepreneur, for whom I've developed Tripopedia.com and Gisearch.com in a freelance capacity, made an equally good offer: me working full-time for his projects from home. Is this something I should consider versus overseas employment?

It's decision-making time again, and it's a tough one.

First things first: let's look at the advantages and disadvantages of one over the other.

Day 21 Occupy Wall Street October 6 2011 Shankbone 16 (Photo credit: david_shankbone)

Advantages of Working From Home

• Flexibility: More relaxed and totally flexible in terms of when I want to work and take breaks. The goal is to render a total of 8 hours within a 24-hour period.
• No Commute: No more daily commuting averaging 1.5 hours daily; less expense (no daily allowance for transportation and food).
• More Free Time: 24 hours less 8 working hours equals 16 more hours for other activities, play time, more sleep, and potentially taking on more work to earn more!

Disadvantages of Working From Home

• Tax Responsibility: Need to file my own income tax returns and shoulder the full amount of contributions for SSS, PAG-IBIG, and PHILHEALTH.
• No Health Benefits: Lack of employer-provided health insurance.
• Less Job Security: Uncertainty about how long the work-from-home arrangement will last.
• Fewer Bonuses: Missing out on bonuses mandated by law for traditional employees.

Advantages of Working in the Corporate World

• Health Benefits: Employer-provided health insurance.
• Employer Contributions: Employer's share for insurance contributions.
• Job Security: Stable income regardless of workload fluctuations.

Disadvantages of Working in the Corporate World

• Stressful Environment: Meetings, management decisions you disagree with, and dealing with colleagues.
• Fixed Schedule: Required to render 8 hours per day (Monday through Friday) within core working hours.
• Demanding Periods: Particularly demanding during peak months, resulting in more time at work and less time at home.
• Commuting: Daily commuting to and from work can be tiring, plus expenses for food and transportation.
• Corporate Policies: Need to adhere to corporate policies such as dress codes.

I guess I've listed the common considerations; for sure, there's more to think about. Rhyan, a colleague taking his MBA from DLSU-Taft, offered this advice:

If the income you generate with working from home is enough to compensate for your monthly expenses when working in the corporate world—then go! If that's the case, it will also mean that the extra time you will have when working from home can still be spent to do extra activities and then eventually contribute to generating higher disposable income.

Thanks, Rhyan!

Think. Think. Think. I have a month or so...