I’m at a bit of a career crossroads and would love some perspective from marketers who have made the jump from a full-time role to independent consulting/freelance work.
I’m 38/F in a MCOL area in the Midwest and I currently lead the marketing at a small commercial real estate firm. I’ve been with the company since 2020 and have essentially built/overhauled much of the firm’s marketing function.
My background is heavily concentrated in commercial real estate, property management, architecture/AEC, branding and professional services marketing. My work includes brand strategy and creative direction, proposals/RFPs, property marketing, email marketing, social media, PR, market reports, website strategy/design, business development support, CRM/marketing technology, and pretty much anything else that falls under the marketing umbrella at a small company.
My compensation
When I started at my current company, I was making $73,500. I now make $111,500. On paper, that’s obviously substantial salary growth. However, I have no employer-sponsored health insurance and no employer 401(k) contribution/match, and because the company is small, I wear a LOT of hats. Does $111,500 seem fair for this level of responsibility when you factor in the lack of benefits? Or am I under compensated than I realize?
The consulting question
I also run a small freelance branding/marketing business on the side. Most of my clients are former coworkers or referrals from working in property management, construction, architecture/design and other professional services. Last year was the first time I was able to earn about 50% of my salary in freelance income, but it has slowed down a bit this year. I also haven’t been “trying” to find work - I am just now starting cold outreach.
I genuinely love the consulting work, and I always wonder whether there is a path to eventually doing it full-time. My biggest hesitation isn’t whether I can do the work — it’s how to consistently get enough of the work. For those of you who successfully left a salaried marketing job and now consult/freelance full-time:
- How did you get your first steady stream of clients?
- What ended up being your most reliable source of new business: referrals, LinkedIn, cold outreach, networking, agencies, etc.?
- How long did it take before your consulting income consistently replaced your salary?
For additional context, I have a young child in daycare, a mortgage, debts, oh and my husband was just laid off, so I’m not really in a position to YOLO my way out of a six-figure salary and hope clients appear. 😂 I would need to build this fairly strategically while I’m still employed.
I’m particularly interested in hearing from people who built consulting businesses in B2B, real estate, AEC, professional services or other niche industries, but I’d appreciate advice from anyone who has successfully made the transition!