Big Employer, Slow Returns
I’m sure you’ll agree that working for a high-profile company, and being able to take credit for your output, will do wonders for your freelance career.
But if you’re expecting the money to flow in quickly, you may be in for an unpleasant surprise.
A well-known consumer electronics distributor was once my employer. And as part of its marketing department, my responsibilities included drafting up the documentation needed to secure financing for projects. And many times, we outsourced some of the work to freelancers. Like when we contracted freelance photographers, models, and even stylists for a product launch.
I witnessed first-hand how slowly things can move in a company. You see, after a fiscal year when costs spiraled out of control, my former employer was forced to adapt much more stringent financial controls.
This included requiring the owners’ approval for any non-sales-related expenditure—which included some of the marketing efforts under my supervision. Having to push a request through the upper management, then to finance, then have it sent to the owners for final signing meant that it took days, even weeks, before the checks were cut. Including payments for any freelance services rendered.
Working with such a bureaucracy reminds me why it’s great to be a freelancer.
To be fair, my former company had good reasons behind such a time-consuming system. They still made sure that the money moved quickly for their bread-and-butter operations: procurement and sales. While to prevent carefree spending, every cent had to be accounted for.
This doesn’t mean they don’t understand their responsibilities. And it’s usually never a matter of lacking money. High-profile companies operate on a reputation of trust. They’re very willing to pay you as soon as they can, once they sort out how your project fits into the big financial picture.
If you find yourself working for a big company, or at least a company with an extensive organization, here’s what you should do: ask for a promised payment date (which you should always do in any case) and add a buffer. If the payment is promised in week’s time for instance, expect to receive the money after 10-14 days. Yes folks, the Scotty Principle applies here too.
I’d like to hear form you, dear readers. What are your experiences with working with big employers? How quickly does your compensation arrive?
Related Stories
POSTED IN: Living as a Freelancer, On Freelancing, Ramblings of a Freelancer
0 opinions for Big Employer, Slow Returns
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: