Most IT solution providers understand the value of independent contractors. If they aren't working as one themselves, they often use these contractors and consultants to bulk out their rosters without adding the cost and liability of bringing on extra full-time workers. Now a recent survey by MBO Partners, a firm that specializes in acting as a consultant for the consultants shows how much the trend of self-employment has grown. MBO surveyed over 1700 independent and regular full-time employee workers to capture these findings.
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MBO estimates that the independent workforce stands at 16 million in the United States
60 percent of contractors say they're highly satisfied with their work situation, compared to half of employees who are unhappy with their work.
55 percent of independent workers say they made a proactive choice to go that route.
63 percent say they will continue to work independently.
14 percent of those 21 and older who are working full-time now said they are likely to be independent in the next two years.
Among those, six in ten have taken action to make it happen and one third have conducted research to get the ball rolling.
Among independent workers, 47 percent are male and 53 percent are female
Millennials make up 12 percent of the independent workforce
GenXers make up the majority of independent workers at 49 percent of the total pool
Meanwhile, Baby Boomers make up 30 percent of the independent workforce
On average, contractors are generally between 30 to 49 years old.
Half of the independent workforce has a college degree
The average wage of independent workers is about $52,600 per year
Three quarters of independents overall stated that doing something they love is more important than making money
47 percent of contractors say they work independently in order to achieve a greater work-life balance, while 36 percent said they do it to earn more money
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