When starting your career with a business management degree, there are many important questions to ask yourself. One of the most important questions that could determine your career success is whether to work in a large or a small company. In part 1, we’ll cover the pros and cons of working in a large corporation, and in part 2 next week, we’ll look at the positives and negatives that come with starting your career in a small firm.
Advantages of working in a large company:
- Systems & Structure: There are usually established ways of doing things. Roles have been pre-defined, pathways to getting promoted are known, and best practices have already been used for years, making your time more stable and focused.
- Better Perks: Health insurance and retirement plans are two benefits most big companies provide their employees, which small firms may not always offer. Perks may vary from company to company, so do your homework and find out before signing any contracts.
- Job switching and growth: Your role in a big company is usually specialized. However, with various departmental areas around you – you have a better chance to examine an area you’d like to migrate to, while still keeping your job. For example, a salesperson could switch to become a marketer, or a designer could switch to a project manager — resulting in better promotion opportunities.
Disadvantages of working in a large company:
- Slower changes: Due to the size of the company, an individual making changes such as creating a new product or getting your department to move to a new model, could take a long time. Being big may hinder you from being fast enough.
- Unknown coworkers: At times there could be hundreds or even thousands of coworkers, who you will never get to meet despite being a social bee. Your job role, or how you work, could be determined by someone you’ve never even met, such as a CEO or the Head of Payroll. When deciding to work for a large corporation, check if they have a strategy or opportunities for employees to voice their concerns to senior management or decision-makers.
- Job satisfaction: Your happiness may depend on the team you’ve been assigned to. A good team will lead you towards success and growth, whereas a bad team may put the brakes on your success, despite all your efforts.
We’ve covered some of the major highs and lows of working in a large corporation. In Part 2, we’ll take a look at the pros and cons that come with working for a smaller group.