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The differences between entrepreneurs and freelancers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become an entrepreneur, becoming a freelancer takes usually requires 6-12 months. Additionally, an entrepreneur has an average salary of $70,849, which is higher than the $59,367 average annual salary of a freelancer.
The top three skills for an entrepreneur include kids, web design and product development. The most important skills for a freelancer are customer service, web content, and video production.
| Entrepreneur | Freelancer | |
| Yearly salary | $70,849 | $59,367 |
| Hourly rate | $34.06 | $28.54 |
| Growth rate | 6% | 3% |
| Number of jobs | 34,711 | 2,088 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 69% |
| Average age | 44 | 38 |
| Years of experience | 6 | 12 |
An entrepreneur is a business owner who regularly creates new ventures and sells them with the end goal of turning them into profit. To start up a new business, entrepreneurs must create business plans and acquire resources and financing while hiring talented individuals. They play a vital role in the economy because they are the driver of economic growth and innovation. They also make use of their business as a means of creating a sustainable living, which improves the quality of life.
A freelancer is a self-employed individual that provides services for multiple clients at one time and usually earns money on a per-job basis. Often known as independent contractors, freelancers usually set their schedules while running their own business and have a flexible lifestyle. They have the liberty to choose their clients that may be less confined to specific markets or sectors. Freelancers usually find work within the creative industries such as graphic design, copywriting, or photography.
Entrepreneurs and freelancers have different pay scales, as shown below.
| Entrepreneur | Freelancer | |
| Average salary | $70,849 | $59,367 |
| Salary range | Between $42,000 And $118,000 | Between $40,000 And $86,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | General Catalyst | - |
| Best paying industry | Finance | - |
There are a few differences between an entrepreneur and a freelancer in terms of educational background:
| Entrepreneur | Freelancer | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 69% |
| Most common major | Business | Graphic Design |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between entrepreneurs' and freelancers' demographics:
| Entrepreneur | Freelancer | |
| Average age | 44 | 38 |
| Gender ratio | Male, 58.5% Female, 41.5% | Male, 47.7% Female, 52.3% |
| Race ratio | Black or African American, 6.3% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 6.4% White, 67.1% American Indian and Alaska Native, 0.5% | Black or African American, 3.4% Unknown, 5.0% Hispanic or Latino, 10.6% Asian, 10.4% White, 70.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 10% | 13% |