The word career has different meanings for different generations, especially when it comes to Gen X and Millennials. Both these generations have different priorities and expectations from what they would call ‘work. William Schantz says that choosing between working for a startup over a corporate job can be a crucial decision to make. Studies show that Gen X has generally been more focused on career performance and peaks. On the other hand, there are Millennials, a generation that prefers company culture, intellectual growth, work-life balance, and peace of mind over everything else.
Here are a few most prominent benefits of choosing to work for a startup over corporate jobs in established organizations:
More Benefits Despite Low Compensation
Long hours and a hard job do not automatically imply a high compensation, especially when it comes to startups. Startups are usually in severe need of funds. Thus, they cannot afford to compensate their employees the way any large MNC or corporation would do.
That said, many startups are able to compensate for potentially low pay and a lack of perks by providing additional benefits. You could be able to work from home, or the employer might have an open leave policy. There may also be a better work culture and a less toxic work environment. The rewards could be more abstract, emanating from the satisfaction of a job well done.
You Get to Gain A Lot of Experience & Skills
According to William Schantz, If the sink or swim attitude does not terrify or turn you off, working at a startup can be a fantastic opportunity to quickly learn a number of useful skills for your resume. When you’re working for a startup, you will be wearing numerous hats and may need to learn skills on the fly, such as coding, marketing, and project management. Even if things don’t work out, you will have a well-rounded résumé after you leave.
You will also have the chance to work on initiatives that you would not have had the chance to work on at another company. These projects can be high-risk, high-reward, and have a significant impact on the startup’s overall success. Since a startup’s entire culture is around rapid success and growth, you will pick up these new skills rapidly.
You Can Learn How to Make Decisions
Whether you stay at a startup or go to a larger company, this difficult experience will offer you a tremendous learning curve that will enhance your future career.
In a startup, you may find yourself in a difficult situation, such as being asked to meet with investors but realizing that your company plans require additional market research. Decisions must be made quickly but carefully under these circumstances. When you’re exposed to such scenarios, you learn to think on your feet and come up with creative decisions.
Wrapping It Up
When it is time to start a new job or make a career change, many young professionals ask themselves whether they want to work for a startup or a large corporation. This is a personal decision that should be based on which would provide the best foundation for future learning and career opportunities.
As per William Schantz, startups usually attract recent grads and other young professionals looking to work in a small, dynamic environment. However, if you’re looking for monetary compensation and rapid growth, then you may be better off with a corporate job in an MNC.