thyme4change
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Post by thyme4change on Jun 13, 2011 11:26:37 GMT -5
I have a young friend who is trying to find her way through the world of employment. She is a little naive. Her Dad is an entrepreneur, and I think she sees the work world through an entrepreneur's eyes. My Dad was a corporate exec, so I see the world through a corporate exec's eyes. My husband's Dad was a government wonk - guess what my husband sees. So, I was trying to explain big business to her, as I think it is different from very small (1 - 5 people) operations. In general, here is what I'm thinking. - Owning/starting your own business: Lots of risk, but if you do succeed, lots of reward. You can work like crazy and end up in bankruptcy, or you can hit the market with a perfect solution at the perfect time and make out like a bandit. - Working for someone who is just starting their own business: Still risky. Cash flow isn't always stable. The company may be sold, or the owner can change directions. The reward might be that there is tons of growth and you can move up the chain quickly. But, even if the owner sells the company for millions - you probably won't get a windfall. I feel this has more risk than a bigger company, but not necessarily more reward. - Working for a small but stable company: It can be a great family atmosphere, and you will wear many hats, likely always doing something new and interesting. But, the corporate ladder is limited to the number of employees that company needs. There probably isn't a lot of turnover, so you might sit at the same salary, or same job title for a long time. - Working for a larger company: More stable on a day to day basis, but they reorg, and things change. I feel that you are likely going to get warning, or severance. Once you have a recognizable name on your resume you have a legitimate job in many employers eyes. I feel like a lot of "big company" people feel that only other "big company" people are qualified. You will never get super-rich, but you can do quite well. After working for smaller corporations (still sizable), and big (huge) corporations and my husband working for mom-and-pop shops - I feel there are certain skills sets that are needed for each. Small operations usually need really flexible people. Huge companies need policies and procedures and wonks that execute them. I know there are one-offs and these are very gross generalizations. But, what are your views on small, medium, large and jumbo corporations?
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qofcc
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Post by qofcc on Jun 13, 2011 12:04:22 GMT -5
I think you described it pretty well. One thing I've found is that small businesses pay less, but they're also more willing to take a chance on someone with lesser credentials. I'm sure I never would have gotten my higher level corporate jobs if I hadn't had similar jobs in small businesses who took a chance on me.
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Phoenix84
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Post by Phoenix84 on Jun 13, 2011 12:11:10 GMT -5
Overall a good way to explain employment to a young person. But you left out government employment:
Government Employment: Varies depending on type of government. Low risk of getting laid off, but not impossible. Usually many advancement opportunities but they normally require relocation. You'll never be rich (no great reward) but will make a solid middle or upper middle class income.
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thyme4change
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Post by thyme4change on Jun 13, 2011 12:24:44 GMT -5
She has bounced around a lot on all sorts of "dream jobs" but none of them are government. I left out her other one, which was NFP organizations. My personal opinion is those are generally lower paid than a for profit equivelant. They seem tough to get because they often are "passion" jobs. You have to be really well connected, and your chances to getting rich are zero.
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Post by gaultamort on Jun 13, 2011 13:39:02 GMT -5
I alway encourage people to look at non-profits that don't depend on grants or donors for funding. I work for an association, which while private, has its funding mandated by the government. I've got amazing benefits and actually get paid better than I did in the for-profit sector. But even the other associations that aren't related to the goverment at all are known for being well paying jobs where I live.
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TheOtherMe
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Post by TheOtherMe on Jun 13, 2011 18:15:12 GMT -5
I just got hired by a small, private college. Pay isn't great, but it's a job.
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tskeeter
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Post by tskeeter on Jun 14, 2011 11:35:32 GMT -5
An addition to thyme's comments:
- Working for a family owned business: It's all about the family. The family will take care of it's own members before it looks out for the interests of other employees. Family members will get the key job you aspired to, even if you are obviously a better fit for the job. Family members will get raises to help with their expenses when they have children. Not so with other employees. Family members will be given a lot of latitude in most aspects of their work. Other employees will pick up the slack. Family members will use you to vent about their frustration with other family members. It will be difficult not to pick sides and it is likely that what you said, or even didn't say, will be brought into an argument between family members at some point in the future. This will compromise your job security.
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Clifford
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Post by Clifford on Jun 15, 2011 9:18:21 GMT -5
If you are mobile, working in a large company has its advantages. I was able to increase my income by 300% in 10 years by moving to roles with more responsibilities - but each one took a full relocation. They also offer decent benefits compared to the smaller companies (like much lower rates for medical and more retirement options and contributions), based on my experience and what I hear from others. Also, you can quickly become a big fish in a small pond if you transition from large to small companies. I am not sure yet if this is good or bad - I am one month into finding out.
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Post by lulubean on Jun 15, 2011 10:01:30 GMT -5
DH last job was NFP as is his job now, don't know how he fell into that but he gets paid pretty good but he is also IT. He is having a hard time filling his open positions though as the pay is lower than a lot of places around here.
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Jun 15, 2011 10:09:44 GMT -5
Family members will be given a lot of latitude in most aspects of their work. Other employees will pick up the slack My great uncle must have missed this memo. He had two non-related co-workers that wanted off at least once a week. I wanted my birthday off, asked for it WAY in advance and was told "Well you need to wait to see if so and so want it off first". It's why I quit. I didn't expect to get preferential treatment as family, but I sure as hell didn't expect to be treated like dirt either. I think my family operates more under the assumption that you can treat family like crap and they will forgive you because it's your "duty" as family. Also working for family is you NEVER get away from family drama and very few people are able to separate work from family. My grandmother and great uncle could never separate business from personal so shit that should not even be addressed at work were always addressed, it was embarassing. Then work issues followed me home and to holidays (still do). I got tired of never being able to get away from it. So I quit. I'll still help out if they really need it and I will VISIT to get a pizza and show off the great grandbaby, but I won't work for them again. Waiting tables at a place where I wasn't related to anyone was SO MUCH BETTER than working for family!
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