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Negotiate for OT in your contract since they are requiring you to be somewhere for specific hours
It’s on you to set the boundaries necessary to make sure things align for you. If you don’t advocate for yourself, then you’re the one losing in the end. Although you can expect to see these more often with the current market.
It’s a mixed bag
In this industry, freelance just means you’re not a full time employee aka on staff. The term freelance is not exactly the same as “self employed” or “contractor” which have specific legal definitions, sometimes freelance is contract gigs, sometimes it’s more like being a temporary employee. As for whether or not it’s taking advantage, that really depends on how much money you make and whether or not there’s a middleman taking a cut.
30-40 hours a week is still well within the bounds of freelance. They’re communicating how much time you should expect to be able to dedicate to their work. That’s just regular scope communication.
(Note: if they’re telling you upfront that they expect 30-40 hours a week, then they’re telling you that they expect to take up almost the entirety of your working week. I’d at least float the idea of a 30 hour a week retainer, were I in your position. They’re asking you to do so much work for them that you won’t be able to do much work for anyone else. They should pay for that kind of exclusivity upfront.)
In-person 5 days a week is them telling you where you are to perform your job, which is pretty textbook contractor misclassification. That’s where an employer (or “client”, to use the proper term for a freelancer or contractor) is taking advantage of you.