A startup is a new company founded by one or more entrepreneurs to develop a unique product or service for the market. A multinational company, on the other hand, is a corporate organization that controls the production of goods or services in at least two countries.
Making a choice between the two depends on factors that are directly influenced by your expectations from a job. So where should you work when it comes to startup vs MNC?
Let us run you over a few factors that should determine your selection.
How much does professional recognition matter to you?
As new and as fun as working at a startup sounds, you must know that it may not give you the recognition that an MNC would. This is mostly because startups have low brand recognition.
Whereas, working at an MNC will enhance your future career prospects by boosting your CV.
Do you prioritize job security?
Security is one of the most important aspects of a job. An MNC can provide you the job security that a startup may not. This is because research by UC Berkley, Stanford, and other benefactors suggest that over 90% of the startups fail within the initial three years. There may be many reasons as to why this happens. One of the reasons could be not having adequate resources to keep up with the depreciating value of assets. So, if you are someone who prioritizes the stability and security of a job, you should go for an MNC.
How much does your income matter to you?
If you are someone, who is mostly about earning a higher income, an MNC could then be what you are looking for. A startup itself is often looking for investors due to which there’s a chance that you may not get what you deserve. For a startup there’s always a lot to figure, ranging from its branding to the right amount of investment.
In such a case, an MNC could be a better option for you.
Does the atmosphere at work matter?
For the most part, a startup brings you a more preferable environment to an MNC. This is because startups will provide you flexible working hours and a more casual environment. Albeit it’s not always entertaining or amusing, startups still have a more favorable working environment. An MNC, on the contrary, is more about disciplined and punctual work culture.
Are you a fresher or an experienced professional?
If you are an experienced professional, you may prefer working in an MNC rather than a startup because of the above said reasons. But, even then, you can help a startup rise by using your skills and expertise.
For freshers, a startup could be a better option because of the exposure and insight it provides.
At a startup, you are working with the innovators and the creators of the business directly. This gives you more clarity on the whole process of how an entire product or service is delivered to its customers. In simpler words, you will be a part of the core process.
Whereas in an MNC, the task you do is only a part of a more significant process of the company of which you might not even be completely aware of.
To conclude, whether you work in an MNC or a startup, there will be certain advantages as well as disadvantages. Your choice should be solely based on your preferences and priorities. Hope this article gave you some transparency.
Also check out: Risk Management for Startups 101: A Useful Guide
Which are some of the best multinational corporations in the world?
Although all the MNCs outshine each other in some way or the other, some of the most sought-after MNCs are Unilever, JP Morgan, Google, Deloitte, EY, etc.
What is depreciation?
Depreciation is the method of allocating the cost of a tangible or physical asset over its useful life or life expectancy.
What are some of the best startups in India?
Some of the most sought after startups in India are:
Digit Insurance -2016