Electricians have been revealed as the highest earning self-employed professionals, following research from Bark.com
The typical self-employed sparky earns £51,200 a year, well ahead of the second highest earners, counsellors, who are typically earning £45,111 and landscape gardeners who rake in £40,140, according to Bark.
Bark surveyed 20,000 self-employed professionals across a variety of trades to find out how much they are earning and analysed the typical salaries of employed professionals to establish how much more they could earn by becoming self-employed.
It found that the average employed professional would see their earnings double (rise by 103%) if they were to become self-employed.
Cleaners – who didn’t make it into the top 10 below – saw the biggest gains by working for themselves, seeing their average salary almost triple from £10,573 to £29,584.
The top 10 professions for the self-employed by earnings:
- Electricians £51,200 (employed average £27,287)
- Counsellors £45,111 (employed average £24,454)
- Landscape gardeners £40,140 (employed average £19,143)
- Make-up artists £38,918 (employed average £20,952)
- Graphic designers £38,760 (employed average £22,012)
- Photographers £36,823 (employed average £20,812)
- Plumbers £36,359 (employed average £23,788)
- Tutors £34,147 (employed average £22,630)
- Painter and decorators £33,075 (employed average, £21,405)
- Personal trainers £33,029 (employed average £19,494)
Despite the financial incentive to go it alone, 90% of the self-employed professionals surveyed did admit that their workloads have increased substantially as a result.
Almost three-quarters (73%) however said that the additional stress was worth it for the financial reward. The ability to control their own work flow also made it easier for 68% of respondents to strike a better work/life balance.
Kai Feller, co-founder of Bark says: “At Bark we work with thousands of self-employed sole traders and thought it would be interesting to see how much they earn a year.
"We picked the top 11 most popular self-employed sectors in the UK, and you can see why so many people decide to go self-employed - a good living can be made from all of the professions.
“The survey took a good couple of months, but was well worth the wait, because the results speak for themselves - being self-employed results in a much higher income.
"We were expecting them to earn more, but almost double on average is a huge increase. That being said being self-employed comes with a lot more work, responsibility and pressure more often than not, it’s definitely not a career choice to be taken lightly.”