Get All Access for $5/mo

The Rise of the 6-Figure Freelancer There will be almost 4 million independent contract workers in the U.S. by 2020, according to research from MBO Partners.

By Catherine Clifford

Opinions expressed by Entrepreneur contributors are their own.

Roberto Westbrook | Getty Images

An ever increasing number of independent contractors are making at least six figures.

There are going to be 3.8 million independent contractors by 2020 making more than $100,000 a year, according to estimates from the self-employed professional service provider, MBO Partners.

In 2015, 2.9 million full-time independent contractors were making more than $100,000. That is more than 16 percent of the 17.8 million full-time independent contractors in the U.S. in 2015, according to research from Herndon, Va.-based MBO Partners.

That means almost one in five full-time freelancers were turning six-figure salaries last year.

The research was highlighted in MBO's recent report, published in April, calling for a new federal worker classification for the burgeoning category of worker. It proposed the CSE, or Certified Self-Employed.

Related: We're Turning Into a Freelance Nation. Here's What That Looks Like.


Taken together, the independent contractor workforce in the U.S. includes 42.1 million people, including both part-time and full-time freelance workers. The freelance workforce generates $1.15 trillion in economic activity, according to MBO.

The rise of the freelancer economy has been a response in part to the proliferation of on-demand companies, such as Uber and Airbnb, which serve as a broker between people providing a service with people and companies demanding that service and the increasing preference of employees to be able to determine their own schedule.

Catherine Clifford

Frequently covers crowdfunding, the sharing economy and social entrepreneurship.

Catherine Clifford is a senior writer at Entrepreneur.com. Previously, she was the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Catherine attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. Email her at CClifford@entrepreneur.com. You can follow her on Twitter at @CatClifford.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

Austin Russell became the world's youngest self-made billionaire in 2020 at age 25.

Living

Taylor Swift Has a Lucky Number. And She's Not the Only High Performer Who Leans Into Superstitions to Boost Confidence.

Even megastars like Swift need a little extra something to get them in the right mindset when it is game time.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Marketing

SEO Trends You Need to Be Aware of Right Now, According to a Seasoned Pro

Navigate the future of search engine optimization to elevate your online presence and drive meaningful engagement.

Health & Wellness

4 Habits I Cultivated to Become a Healthier, More Effective Entrepreneur

By the time I hit mid-life, some of my bad habits were becoming a risk to my long-term business goals — and my health. Here's how I was able to change them.

Franchise

Guide Fellow Entrepreneurs to Success with an Exit Factor Franchise

Exit Factor franchisees play a vital role in the entrepreneurial community. As a business advisor, franchisees offer valuable guidance, solutions, and expertise to clients seeking to improve their business for a future exit.