It's not difficult to describe the differences between working for an MNC and a startup. Comparable to differentiating formal wear from casual clothes or distinguishing between formal meetings and lively, participatory group discussions.
Freshers are people without corporate experience or experience working in a particular industry. People who change careers would not be regarded as more experienced because they still have corporate experience, which has given them practical work knowledge.
MNC vs Startup
An MNC is a large commercial organization with affiliated operating companies in different countries. With time and experience, companies like TCS, Infosys, and Wipro companies, which were once startups, have evolved into renowned and credible names in the industry with many projects under them.
With more and more experienced and skilled people worldwide becoming part of these organizations, they have become what we call MNCs or Multinational Corporations.
Startups are young companies founded to develop a unique product or service that fills an existing void or service gap in the market. A startup is a business that is just starting up. Startups carry a high risk of failure, but they can also be great perks, an emphasis on innovation, and unusual places to work and learning opportunities.
One of the most confusing situations fresh graduates face today is whether to opt for large multinational companies or startup jobs. Both have pros and disadvantages to be weighed. It entirely depends upon your future goals and how you want to shape your career. It can be unclear for freshers to understand all of this; hence, we are here to help you figure this out.
An MNC requires a preset number of years of experience before considering applications. Each level of employment will have its prerequisite. They have very little flexibility in terms of considering under or over-experienced people.
However, a Startup is a growing place. They are more welcoming to freshers and people with diverse experiences and backgrounds. They may be willing to consider applications from both over and under-experienced people.
An MNC has fixed pay bands, and you can keep expecting steady growth in your salary over the years. If someone wants to have a steady salary pattern for a lifetime, it is better to opt for Multinational companies.
Planning a trip to Goa on your first salary? Forget it at any average Startup. Their initial payment will be too small for the work you put in. However, it is also as likely to shoot and double up in a couple of years or completely go under and leave you with nothing but experience on your CV and few lessons.
In general, Startups value people more than an MNC. In the case of a startup, every role comes with huge responsibilities. But, with greater responsibilities come more significant rewards, both on professional and personal levels.
Since it is a Startup, you will be able to make a substantial impact. Since fewer people are involved in a startup's functioning, there is less chance of one's work being ignored. Thus, there is better work recognition in a startup.
"A machine will not become a better machine by running for years. It only wears out. That's what will happen to you."
When you end up working in an MNC. You can gain global recognition from MNCs. Your CV adds credibility if it bears the name of an important company... Maybe it won't be appreciated daily, but if you perform well, the company's top performers receive awards, benefits, and perks, which might be done annually, quarterly, or in six months(depending on company policies). But when these big companies reward, it is massive.
Also, most MNCs provide their employees gratuity, provident funds, medical insurance, and other job securities. Want a dependable 9 to 5 job? Then an MNC is a suitable place for you. You will have a reasonable amount of time to spend with your family and friends.
Career growth opportunities come with working for a larger organization. A multinational company often creates jobs all around the world. International corporations frequently equip one with a diverse environment since it involves people from racially and ethnically different cultures.
But if you are not strong enough to get some achievement, then probably you need to stay at the same place for a greater time making your learning experience dull.
The work done by an employee in MNC for 4 years is equivalent to the work done by an employee in a startup for 3 years only. Startups are in budding stages and hence, the work pressure over there is more than an MNC. But the best part about this is startups will give more practical work experience than MNCs.
Startups still need to make their processes simplified and majorly involve the whole working team in different tasks. It gives out an opportunity for an employee to learn the whole working process right from the start of making the plans to delivering the service. Therefore, there are more learning opportunities in a startup.
Startups are still experiencing different methods and are still required to add points in their briefs. Hence, everyone, there is experimenting with their own way and are self-taught people. Joining a startup can be stressful initially, especially if one's job description is unclear.
One may also come under a lot of pressure to perform well when producing quality results. There is always an option for you to be creative and go out the way to try something valuable.
MNCs have already settled up startups and hence have their own way of working, rules, and regulations in place. They do not expect freshers to join them without undergoing the training session and a guide of their rules and regulation.
Hence, working at MNC can be like walking on a path made by someone else. The working culture of an MNC is disciplined but it does hold a number of opportunities for the freshers to learn.
As a Fresher, some stability and structure are required. Startups are more in sync with the work style of someone in their late 20s who can work with a bit of ambiguity. Thus, if you are an exceptional thinker and a creative person at heart, I would recommend a Startup that is a few years old and is just settling into its rhythm.
They will be able to provide you with just the right amount of freedom and structure needed to operate optimally. And at the end of it, go where your heart takes you. Because if it doesn't fill your soul, it is bound to wash away sooner or later. Or if you think it will be tiresome to be a part of a startup, MNCs are always welcoming new people into their companies.
Is it better to join a startup as a fresher?
If someone feels to explore a different side of the working patterns and is ready to take up the risk at the start of their career, then yes working at a startup as a fresher is a better option.
Is the MNC job secure?
Nothing can be guaranteed 100%. Hence, it will be false to say that MNC jobs are secure fully. But yes, they are secured till some length and can provide steady growth for the individual if they have the ability to surpass others.
Why MNC is not good for fresher?
Freshers working for any MNC have their dream position preselected before joining the company. But the actual time taken to achieve their dream can fall anywhere between 5-15 years or more. This is the biggest drawback why freshers should not work at MNC.
Does working for a startup look good on your resume?
Including the startup experience on the resume is always a good option to prefer irrespective of the startup's present condition. Including it in your resume can showcase the ability and experience of work done in the past and provide many chances of creating a good impression on the leader.