Being Self-Employed vs. Working for Someone Else

Nowadays, companies require at least a college degree for better income. If an employer has two candidates for an open position, he will pick the best of both the one that fills all the requirements. Also, there is a high probability that the person chosen is the one with the highest level of education. Another reason to have a college degree is to earn more money with better features and benefits. In today’s society the cost of rent, food, medical insurance, and others bills is too high. A person with a high school diploma may need to have two jobs to support its family. Nowadays, the best recommendations are to either have a business or at least have a degree this will facilitate your income. A college degree is the base to accomplish higher goals in a company. The more education an employee has the faster this person gets to move up in a company.

SOLE PROPRIETORSHIP: Sole proprietorships are the most common form of business in the United States. You and your business are one in the same. While being your own boss as its advantages, like working your own hours and collecting all profits made by the business, there are some disadvantages. For starters is coming up with starting working capital. Most Sole Proprietors have to seek funds from other sources.

“The pay gap between college graduates and everyone else reached a record high last year.” Quoted from the article ‘Is College Worth It? Clearly, New Data Say’ by David Leonhardt, Sometimes, not often, society tells us that College is not worth our time or money, But receiving a college degree will bring what you learned in the classroom into the real world, which benefit you on your quest to success. The education system has always been a major element in todays society. The more knowledge an individual has the better their success rate, some people believe a high school diploma is enough and it is, for a fast food restaurant.

Data from the National Survey of America's Families found that seven percent of the TANF leavers it sampled in 1997 were self-employed. This is similar to the national rate of self-employment, which was 8.1 percent in 1997. It is also higher than the self-employment rate among women, which was 6.6 percent in 1997. In rural areas, self-employment is an even more important source of employment—in 2002, 10.4 percent of workers in nonmetropolitan counties were self-employed, compared to 7.2 percent nationwide. And, in some rural areas, the role of self-employment is even more pronounced. For example, a recent study by the Center for Rural Affairs found that nonfarm proprietors constituted 22 percent of employment in rural farm counties throughout the Great Plains states”( 1).

For a well-paying and/or professional job, a college degree is essential. According to Labor Department statistics by the Economic Policy Institute in Washington as stated by Leonhardt, “Americans with four-year college degrees made 98 percent more an hour on average in 2013 than with people without a degree.” A higher income is what most people expect when attaining a degree, but most jobs require

College gives its graduates the greatest ability to achieve a higher paying job. Furthermore, adults who attend college earn higher wages over those who do not. As emphasized in “College Grads Find Big Degree of Debt, Difficulty; American Families Start to Wonder Whether Education Cost Is Worth It” by Patrice Hill, a staff writer for The Washington Times, employees who have a

Rules of society/ our system say that having a college degree is important if you want to open up your possibilities in terms of employment. That’s because when it comes to picking someone to work for their company, employers often times lean towards the candidate with the most experience. “Many employers are using the bachelor’s degree as a proxy for quality employees. Employers believe in the college experience, not just as an incubator for job-specific skills but particularly for the skills such as writing, analytical thinking, and maturity” (Sigelman). Although some people may think that a college education isn’t essential, businesses, companies, and professionals in today’s society demand it for the competitiveness and problems in our economy.

However, if a person is self-employed they still have protection for their health and safety and, in some cases, protection against discrimination, and their rights and responsibilities are set out by the terms of the contract they have with their client.

The article “A College Degree Isn’t Enough” by Kiplinger Knight, December 1, 2013 is a persuasive article because the author believes a college degree isn’t enough to land a job. Others may think otherwise. The author has this point of view due to the fact increasing number of employers have grown skeptical of degrees and other traditional credentials. Companies didn’t care much about a college degree or any achievement for that matter. Therefore, began a trend toward employer testing, which is fueled by a backlash against the high cost of four-year colleges and mounting student debt. Universities have been just too much money. A similar attitude is driving the trend toward condensed, tailored education, such as vocational training or an associate's degree from a community college. The way the author argues is informative and clear but the position he takes is disagreeable.

In today’s society, employers look for workers with college degrees because they know what college students are capable of doing. Employers now hold their employees to a different standard compared to the 1900s. Back then, employers did not mind the level of education a person had because being educated was not as common. However, now that society has progressed, more and more people have the same level of education: a high school diploma. Today, employers want to hire someone that

Self-employed people will run their own business, they will be contracted to provide a service their clients. They will not be paid through PAYE and they do not have the same employment rights as employees or workers, Self-employed people will however still have protection for their health and safety on a client’s premises, they will have their rights and responsibilities set out in the terms of the contract with the client. They will not be entitled to holiday pay. They may however in some cases be classed as self-employed for tax purposes but classed as an employee or worker for employment rights. See point 2 Appendix

Recently people have found themselves asking if college is worth it or not. Some people believe that going to college can be beneficial to them in the future and can have them an efficient amount of money. Others believe that there is no need to go to college. Some of the benefits people have with going to college is getting a better pay and higher level of education. College is worth it because it can lead you to a very successful future.

Self employed - if you are not employed in a contract of employment with an employer but contracted to provide services other a period of time for a fee or be a business in your own right. Therefore a person will work for themselves rather than a employer. You do not have employment rights but have to pay your own income tax and national insurance contributions.

A ‘self-employed’ temporary worker, works for themselves and is responsible for their own NI and tax contributions, whereas with a ‘worker’ is paid directly by the employer or agency, who will be responsible to tax deductions.

There are many advantages and disadvantages when owning your own business. When you own you own business, it’s known as a sole proprietorship. But with any type of business, there will always be advantages and disadvantages.