In a brief paragraph, compare a regular employee's total compensation to that of an independent contractor or a self-employed worker

Answer 1

A regular employee typically receives a total compensation package that includes a salary or hourly wage, benefits such as health insurance, retirement contributions, paid time off, and often job security. In contrast, an independent contractor or self-employed worker usually earns a higher hourly rate to compensate for the lack of benefits and the added responsibility of managing their own taxes, health insurance, and other expenses. While contractors enjoy greater flexibility and potential for higher earnings, they face the risks of fluctuating income and the absence of employer-provided stability.