When it comes to jobs, many young professionals have this question of whether they should join a big and established corporation or startup. It completely depends on one’s choices, preferences and what is the most important factor for them. The big corporations usually have a structured workflow and set working hours but the startups have a more friendly vibe and there is more room for exploring especially if you are in the initial stages of your career.
Although each has its benefits, one of the important parameters you need to check is long-term career growth. In a startup, will you be able to get into a senior management position role five years down the line? You never know as it is a bit unstable place to work. But with a big corporation, although growth is slow and steady you will achieve the success you want in the future. Likewise, if you want to be an entrepreneur in the future, you will learn more in a startup than in a big corporation. So, it’s all about one’s choices and preferences. To all those who are confused about whether a startup or a big corporation is better for them, keep reading the article as we compare a big corporation and startup with each point.
When it comes to job security, big corporations win over startups because they are already established. The chances of their business falling apart are very less when compared to a startup company. The majority of the young professionals seek job stability initially in their career so that they can work on the passion and interest on the side. Although job security is never a guarantee, big corporations offer more stability because they are established.
The growth in a big corporation is steady and not so rapid. But if you stick with a company for long enough, you will grow steadily. But in startups, the growth is very unpredictable. You either grow too fast and never see growth at all. If the startup company grows, you will grow simultaneously. In the long run, you might be in a management position in the company if you stick with the startup for a long time. Because you are one of those who stuck with the company initially, you will be given importance if the company succeeds. If you want to experiment with your career initially, startups can be a good option but if you are someone who is looking for steady growth, then a big corporation should be your go-to option.
Big corporations have a proper structure in place because they have dedicated people handling different departments in the organization. If you are a fresher joining a big firm, there will be someone to train you on the rules of the business and the culture of the office. In very cases, you will be pushed into circumstances where there is no proper structure in place.
On the other hand, startups might or might not have a proper structure. Most of the startups don’t because they lack senior leadership, workforce and the equipment to make everything structured.
To succeed in your career, hard work is mandatory. But in startups, you may be required to do more than what’s been expected of you. Because the workforce is small in startups, there wouldn’t be many people helping you to solve your problems or any other issues you face at work. In a startup company, you might need to do stuff that isn’t part of your job as the workforce is less. You should don the role of an “allrounder” in a startup.
In a big firm, you can go beyond your job if you want but it’s not needed in most cases as there are more people to get your projects done. Because there is a proper workflow structure in place, everyone does their job and there would be no extra burden on you. If you want a predictable schedule and an organized workflow, then a big firm should be your go-to option. But if you are very passionate about what you do and don’t mind putting in extra hours, then you can consider a startup job as well.
5)Learning & development:
Big corporations invest in their employees to upskill them which would benefit both the organization and the employees. Also, employee training has become very affordable these days with online training and technological advancements. Most organizations are opting for LMS software where they can create, manage and deliver their courses effectively at every affordable subscription rate.
Startups on the other hand prefer professionals who are already skilled because they don’t want to invest their time, energy, and efforts in training people. They want to invest everything in building the company and establishing it and then think of training the employees. However, they may offer courses on online platforms which are ready-made or call senior leaders in the same industry to give guest lectures.
If you need an organization where you want them to invest in your training & development, then a big firm should be a better option. But even in a startup, you learn more at your job as you are most likely to learn everything on your own.
This completely varies from each company but big corporations can afford to pay their employees more because they are well equipped to do it. They have clients and funds coming in to pay their employees. In startups, the salary might be unpredictable. If it succeeds, the payment will be higher and if it incurs a loss, then the burden might fall on the workforce as well. The growth of your salary completely depends on the growth of the startup.
Choosing between a big corporation and a startup company is purely a personal choice depending on what the person wants from a company. We hope this article helps you to weigh the positives and negatives of both big corporations and startups and help you make an informed decision.