Explain three differences between self employment and salaried employment?

1. Income stability: In salaried employment, employees receive a fixed amount of income on a regular basis, typically in the form of a monthly salary. This provides a sense of financial stability and predictability. On the other hand, self-employed individuals do not have a guaranteed income and their earnings can vary greatly depending on the success of their business or the number of clients they have.

2. Benefits and perks: Salaried employees often receive benefits such as health insurance, retirement plans, paid time off, and other perks provided by their employer. Self-employed individuals are responsible for providing their own benefits, such as health insurance and retirement savings, which can be more costly and require more effort to set up.

3. Control and flexibility: Self-employed individuals have more control over their work schedule, clients, and projects. They can choose when and where they work, as well as the type of work they take on. Salaried employees, on the other hand, have less control over their work assignments and schedules, as they are typically required to work set hours and follow the direction of their employer.