One of the most confusing situations faced by the fresh graduates today is whether to opt for large multi-national companies or start-ups. Both MNCs and start-ups come with their own share of advantages and disadvantages. It entirely depends on your future goals and how you want to shape your career. To help you lessen your dilemma, we have compiled a list of 6 points that talks about the benefits and the drawbacks of both.
- Salary: In case of a start-up your salary will be lower as compared to big MNCs but your ownership, impact and responsibilities in the company will be way bigger. Your salary would be dependent on the funding provided to the start-up. If the start-up is well funded your salary would be decent. But, in case of less funded start-ups, you might be paid low but a good amount of stocks options can be provided which will be very beneficial for you if the company goes public. MNCs on the other hand, pay really well because of the resources and profits they have.
- Responsibility, recognition, and accountability: In case of a start-up every role comes with huge responsibilities. Here, you have to work long hours with more stress and more responsibilities. But, with greater responsibilities come bigger rewards both on professional and personal levels. Since it is a start-up you will be in a position to make big impacts. Your good work can earn profits to the company as well as its customers. You will get appreciation from the senior management on your achievements. Your hard work will never go unrecognized in case of start-ups. On the other hand, if you commit a mistake, everyone pays for it. MNCs can provide you with global recognition. The name of a big organization on your resume gives it weight, doesn’t it? Maybe your work won’t be appreciated on a day to day basis but if you perform really well, you will be well appreciated for it. There are awards, benefits and perks for the star performers of the company but this might be done annually, quarterly or in six months (depends on the company policies). When these biggies reward, it’s really big.
- Work-life balance: If you want a 9 to 5 job then MNC is the place for you. You will have good amount of time to spend with your family and friends. But, if you like to take risks and challenges then go for a start-up. Here, the work hours is not fixed. You might have to stay long in office and work even on the weekends. The work pressure in MNCs is less as compared to a start-up because of the amount of workforce.
- Risk: It goes without saying that working in a start-up is riskier. A start-up may fail and you might lose the job. MNCs are strong enough and have fewer chances of failing hence your jobs are more secure here.
- Facilities: Start-ups are small organizations hence the facilities are less when compared to an MNC. You may not be working in a fancy office. Foreign trips? Forget it. Whereas, in an MNC you will get better and a number of facilities like good cafeterias, better work stations, recreation facilities, outdoor activities and the latest technology. If you always wanted to go abroad then an MNC might be the better choice.
- Career growth: Start-ups are any-day a better place to learn and grow. The quantity of work you will do in 1 year is equal to 2 years in an MNC. The skill-set of your domain will improve and you will not waste your time and energy in office politics. On the other hand in an MNC, you get to learn a lot of new things apart from your basic work. An all-round development can happen if you prefer to work with the biggies.
In a nutshell, it entirely depends on what you want to achieve in your life rather than arguing or discussing which one is right. Both has their positives and negatives. Pick the one which can help you to reach the goal that you have set for yourself.