Does the size of a company matter to you when deciding where you want to work? Deciding on working for a large or small company could depend on many factors, including the number of employees or how profitable the company is.
Here’s a look at a few key differences when working for a large or small company.
Large Companies: Advantages
- More resources – The bigger the company, the more resources you’ll likely have. Working for a larger company allows for more defined processes and the ability to provide resources to troubleshoot any technical, logistical, or organizational challenges. Larger companies also tend to invest more in internal training and professional development.
- Job security – The likelihood of losing your job at a large company on any given day is unusual. Working for a larger company greatly increases your chances of receiving a compensation package, even if you are let go. Any company, regardless of size, can experience layoffs, although larger companies typically have more resources to weather a storm.
Large Companies: Disadvantages
- The level of competition rises – Larger companies mean more job seekers are vying for a position. Sometimes your application could be overlooked by recruiters or decision-makers due to the influx of candidates. You could also lose out on an opportunity with a large company because of the stiff competition from internal candidates.
- Little room for creativity – We mentioned above that larger companies tend to come with more defined processes. The policies and procedures could be more challenging to experiment with or alter. To see changes in your role or the entire organization, ideas may have to go through numerous rounds of approval. There must also be a compelling reason to modify what is currently in place.
Small Companies: Advantages
- Possibility of more personal connections – Working for a smaller company may feel more like a family situation in the sense that you will likely be able to interact on a more personal level. With the capacity to develop more personal relationships with your colleagues in a smaller organization, you will have more visibility and a better chance of being recognized.
- Stepping stone for a bigger opportunity – Working for a smaller company may be beneficial if you later wish to work for a larger one. You will most likely wear multiple hats in a smaller work environment, which may help you communicate with a larger company during the hiring process.
Small Companies: Disadvantages
- Fewer benefits and perks – Because larger firms create more profit, they can often afford to provide more advantages and perks that a smaller company may struggle to deliver. If you want a variety of options when selecting a job benefits package, going with a smaller company may not be the greatest option.
- Work culture adjustment – A new employee who is accustomed to working on a bigger team can find it more difficult to fit in with a smaller, close-knit group. Additionally, it may be challenging to ignore your coworkers at a smaller company if you do not get along with them.
Deciding to work for a large or small company is up to you. There is no right or wrong. It’s all about preference and what works best for your career goals.