facebookHow much year-end bonus do one get in different industries, particularly data analytics? What else will I be missing out in terms of pay/benefits comparing freelance vs employed in MNCs? - Seedly

Anonymous

18 Apr 2019

Career

How much year-end bonus do one get in different industries, particularly data analytics? What else will I be missing out in terms of pay/benefits comparing freelance vs employed in MNCs?

I am a fresh grad, and would like to calculate if I would earn more or less in freelancing vs corporate job. I can only think of missing out on the year-end bonus and CPF from employers. Also, I do not factor in the value of time flexibility so all of my calculations are monetary.

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Jason Sing

24 Sep 2018

School Of Hard Knocks And Life at School Of Hard Knocks And Life

That really depends on the industry and whether the company in the industry is performing well enough in the year to dish out bonuses.

Good things you might be missing out on:

1) Additional Wage Salary

2) Insurance

3) Sponsored courses & learning opportunities

4) Mentorship/company

5) Annual Leave & Sick Leave

6) worry of no freelance work

Bad things you might be missing out:

1) politics

2) bad bosses/colleagues

3) travelling to & fro work place

4) wayang

Amount of bonus you get depends on your performance, how you met your kpi for the year, and how much bonus pool is allocated to your country office for mncs. Some companies pay a 13th month on top of your variable, some incorporate it over the 12 months. Most mncs will also have some form of employee benefits, common ones will be group term, group hospitalisation, some sort of outpatient gp (either through flex or given a card). My current company and previous mnc I work for have flex benefits where you are given a certain amount to spend on vision care, dental, flights, gym membership, insurance premiums, etc. Some items are taxable and will be included in your income tax, some are not. Other fringe benefits may include annual company trips, movie outings, talks organised with external vendors to provide some awareness issue, etc. And of cos not forgetting CPF contributions. All these will not be available if you go for the freelance route. Pros and cons. Freelance wise, you are the boss and you decide on the projects you wanna embark on. If you are good at something but you are not sure whether it's sustainable, why don't you find a corporate role first, and freelance on the side? If your side income is sustainable and close to your day job's, consider going at it full steam. Hope this helps

i think it really differs from company to company! it's better if you look at other benefits that the company can offer you

Being able to find a good mentor. Colleagues/network, instant rep through your company's name alone....

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