#MedComms Freelancing Barometer 2024

This article was originally posted by Peter Llewellyn on LinkedIn in February 2024. You can see the original article here.

Our #MedComms Freelancing Barometer 2024 has now closed. A massive 550 responses! Thanks to everyone who participated. The results are fascinating and should be valuable for all freelancers, aspiring freelancers and anyone who commissions freelancers. And they provide plentiful food for thought and valuable insights, for everyone, into the state of #MedComms today and where we are heading.

The full data set is downloadable here.

Take time to read the free text comments. There are many valuable insights in there.

I and a number of others who run specialist community of interest groups for #MedComms #freelancers around the world are now looking at the results in more detail. I hope that by collecting and freely providing this data I can catalyse many discussions, public and private, about the current state of the #MedComms #freelance business.

What do you think? Please share your comments below. Does the data resonate with your own experiences?

Here are my first thoughts to kick us off...

It's a very mixed picture! Some freelancers are doing fine, but many have had a challenging 12 months and are nervous about 2024

52% of freelancers didn't work as many hours as they wanted in 2023 and 45% say their freelance income was less than expected. Some individuals have real problems as a result.

There's little evidence of rates being forced down in practice, despite it being a common discussion point recently

A majority of freelancers (57%) worked with 4 or less clients in 2023. So, most have a very limited view of the overall picture. Hence talking to each other and surveys like this are so valuable. Freelancers who have been quiet, you are not alone. Freelancers who have been busy, you might be one email away from a problem.

44% say their biggest client represented more than 50% of their 2023 income. That can leave them vulnerable.

Despite the challenging times, freelancers are perhaps surprisingly keen to continue freelancing! 70% of respondents are satisfied or very satisfied with freelance life with a notable majority agreeing that "I enjoy a good work:life balance".

AI and the need for training and guidance looms large!

I'm always surprised now many Freelancers don't join professional organisations and/or specialist platforms and communities of interest like my own MedComms Workbook. They are great sources of support and often work, especially in challenging times. There are lots of options. Find one that suits you. Or start your own!

Arguably, these results may be overly positive. I could list a whole bunch of freelancers who gave up last year and returned to employment or simply moved on because of the challenging times, reduced workflow, ever-more onerous contracts etc.

So, what about you? Are you optimistic? Pessimistic?