Listen to the podcast episode above….and here’s a companion article too.
The Economics of Time
Time is the most valuable asset a freelancer has. Unlike salaried employees who have the security of a fixed paycheck, freelancers operate in a world where every hour must be accounted for—whether it’s spent on client work, marketing, professional development, or business growth. When time is money, every decision about where to allocate it matters.
Recently, I was invited to participate in an academic study on how freelancers operate. I was excited! I wanted to talk about my work. As a freelancer, I don’t often get the chance to opine about how I spend the totality of my time. In fact, the only person who really shows an interest in this is my accountant. (Hi, Murray!)
It can be lonely being a freelance solopreneur, so the promise of a chat sounded great!
The study aimed to understand freelancers’ workflows, challenges, and decision-making processes. The email said they’d need me for an hour.
But here’s the kicker.
It was unpaid.
The irony was striking. A study designed to explore the realities of freelancing inadvertently made it inaccessible to the very people it sought to understand. Why? Because freelancers can’t afford to give away their time without a clear return on investment.
The Freelancer’s Trade-Off: Every Hour Counts
For freelancers, time is a finite, ever-dwindling resource. Each hour not spent earning is an hour that affects our bottom line. Unlike traditional employees, we don’t have the cushion of paid time off, sick leave, or employer-sponsored benefits. This means that unpaid commitments, no matter how well-intentioned, come at a direct financial cost.
Freelancers are often expected to contribute their expertise for free in exchange for exposure, networking opportunities, or future benefits.
Honestly, if I had a quid for every time someone’s said “we don’t have a budget but just think of the exposure!” I’d probably be lazing around on my own private island.
While some of these offers may be valuable, most are speculative at best. Exposure doesn’t pay the bills, and goodwill work needs to be carefully assessed.
Assessing the Value of Unpaid Work
This doesn’t mean freelancers should never engage in unpaid work - I often help people out for a bunch of reasons - but the decision should be based on how generous you’re feeling in that moment, and also if it’s a good strategic move.
If a random person contacts you to ask you to do something for free and you don’t know them from Adam, before saying yes, consider:
Does it contribute directly to your business goals? Will this opportunity lead to tangible benefits, such as new clients, industry credibility, or visibility within a key network?
Is it aligned with your long-term growth? Some pro bono work can be valuable for brand-building or skill development, but only if it fits into a larger strategy.
Is it really a unique, one-time opportunity? Some experiences are worth it for creative fulfillment or networking, but they should be the exception, not the rule.
How to Respect a Freelancer’s Time
If businesses, organizations, and researchers truly want to engage with freelancers, they must recognize the financial pressures shaping freelance decisions. Here’s how they can do better:
Offer compensation. If you value freelancers’ insights, pay them for their time.
Be transparent about expectations. If participation is unpaid, make that clear from the start.
Make participation efficient. Can a study be a short survey instead of an hour-long interview?
Recognize freelancers as professionals. Just as you wouldn’t expect a lawyer or consultant to work for free, freelancers deserve the same respect.
Some final thoughts
Freelancers play an essential role in today’s economy, bringing creativity, flexibility, and expertise to countless industries. But for this way of working to be sustainable, freelancers must be disciplined about how they allocate their time—and those who seek to engage with us must respect the economic realities we face.
Next time you’re asked to participate in unpaid work, ask yourself: Do I really wanna do this? And for those seeking to engage with freelancers, Would I wanna do this if I were in their shoes?
What’s your experience with unpaid work as a freelancer? Let’s start a conversation in the comments.
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