Solopreneurs are thriving as corporate counterparts struggle

"As a caregiver with a young child, DasGupta says the corporate life proved too inflexible, and the logistics of balancing her personal life and career were becoming overwhelming. Starbucks was also undergoing restructuring, and DasGupta's once-secure corporate job was starting to feel a little shaky."

"She explains that for most working mothers, "if you get the opportunity to make as much money-maybe even a little less-and get flexibility, many will take that option." She adds that "there aren't enough companies that are innovating around ways to compensate people with time, as opposed to just money." Instead, she's earning what she calls a good income as a solopreneur, while enjoying the flexibility to structure her own schedule in a way that allows her to show up for her daughter and her clients."

"According to a recent study conducted by online payroll and HR provider Gusto, solopreneurs typically earn about one-third less than similarly skilled employees in year one, but catch up quickly. "By year two, the average solopreneur is making about 15% more than a similarly-skilled employee, and that goes up to about 25% by year five," says Gusto economist Nich Tremper. According to the study, the average solopreneur earns about $41,000 in year one-and over $83,000 by year three."

Joy DasGupta left a 13-year marketing role at Starbucks to become a rewards program consultant so she could balance caregiving and work. Corporate inflexibility and company restructuring made her former role feel unstable and difficult to reconcile with family needs. Many working mothers prefer comparable or slightly lower pay in exchange for schedule flexibility and time. DasGupta reports earning a good income as a solopreneur and values the high hourly return on her time. A Gusto study finds solopreneurs often earn less in year one but surpass comparable employees by year two and continue to grow earnings through year five, with common activity in professional, scientific, and technical services.

Read at Fast Company