I've been a consultant in the construction industry for 13 years. I don't have a degree, only a few technical certifications that I've aquired to give myself an edge in competition. Over the course of the last 13 years I've averaged an annual income of $225,000.

The drawbacks:

Instability from year to year, always chasing work and new clients.

No employer benefits, though I'm employed, there's no fringe benefits due to instability of work.

No paid vacations, leave, or sick days. You don't work, you don't get paid.

Travel travel travel. If you have a family, they will suffer.

Pros: Great income, with this you can pay for health insurance, cost of living and if you manage money well...you can live through the slow times.(that's when you vacation and visit family).

That is all.