Our career is one significant aspect of our lives which each and every one of us are worried about. We all are working hard to educate and train ourselves, we are investing money to accomplish a successful career, to do something that we can be proud of. .
To have a good career, we need to be working with an organisation that is suitable for us, our job roles, our skillset and also our future career plans.
This is where the dilemma for most Indian employees creeps in. The question we are faced with is- Should I work with an MNC or a startup?
Coming to a conclusion is this battle is pretty difficult because both MNCs and Startups come with their own specific sets of pros for the employees.
In this article, we are about to address the current scenario of MNCs in India, along with highlighting the advantages associated with working for an MNC and a startup respectively.
Without keeping you waiting any longer, let’s get into the details right away!
Attrition Spikes among all IT Service Companies
The demand for engineers and programming talent is only increasing with time, especially for professionals who have exceptional digital skills. Hence, this is a great opportunity for IT professionals to grab a job that fits perfectly to their skillset.
Why do people prefer working in an MNC?
If you’re wondering why you should work with an MNC or what the benefits of joining a MNC in India are, well the list of reasons can be pretty long, and extensive enough to convince you to give yourself a shot at working with an MNC.
More and more businesses are going global earning profits from making sales all around the world. Working with a global company will definitely bring some competitive advantages to your resume as compared to local businesses.
A few popular MNCs in India would include TCS, Wipro, Cognizant, Tech Mahindra, and more. There will be challenges, for sure, but that’s only natural! To enjoy the perks of working in an MNC, you will have to bear with the related cons which are only minimal when compared to the list of pros.
What are the perks of working with an MNC?
Job Security is not a concern with MNCs!
Most professionals believe that a job in a Multinational Company is highly secure, mainly owing to the enterprise’s global brand value.
Being a global business, doing business all around the world, MNCs come with a vast pre-established clientele, along with numerous fresh leads being generated every day.
The substantial market share makes an MNC stable and is able to accommodate employees for longer periods. Since ROI in MNC is greater, salaries are also higher.
The list of perks is pretty alluring.
Professionals working with MNCs enjoy several job perks like incentives for overtime, bonus, paid leaves, PF facilities, and also a better salary.
All the hard work that MNCs demand is paid off because MNCs try to provide as many facilities as possible to make the employees feel comfortable, because they can afford to dedicate resources to ensure the well-being of their employees.
Standard leaves and overtime pay encourage employees to stay loyal to the firm, and as a result, employees become more motivated while working, allowing them to achieve a better work-life balance.
MNCs employ a large number of people who work together on a project and have the opportunity to collaborate with each other and learn new skills, while getting better at their specific job role.
Performance-based increment is the most reasonable and widely accepted method to ensure that the employees do not get stagnant at any point in their careers, and they keep moving forward.
International Opportunity:-
Professionals working with MNCs are likely to get a chance to relocate to foreign countries for work purposes if they can consistently keep up their level of performance.
There are many people who would love to get the chance to work in another country or even move there. Working with an MNC for a few years will give you the experience of working in a multinational and multicultural environment.
Hence, moving to a new country will be easier for you as you will know the whereabouts.
Why do people prefer working in a Startup?
Startups are booming in India, generating huge opportunities for employment.
Multinational companies are definitely good for your resume but startups come with their own unique set of benefits that can be suitable for many professionals who are looking to learn and grow.
Startups can give the opportunity to develop new skill sets from scratch. The employees are the main contributors to the growth of a startup, and the growth of the startup ensures the growth of the employees.
It is more like working as a closely knit team and growing as a family. The relationship among team members and the relationship of the team with the startup brand is a lot more intimate and harmonised.
What are the perks of working with an Startup?
More Responsibility-
The Startups market share is growing rapidly over time. Hence, employees working in startups have more responsibilities in the sense that since the team is usually small and the skillset is limited.
When you join a startup, you may find that no one in the team has that skillset you have. Hence, you will be the sole expert in your field and you have to make sure that you do your work well. You may also have to train freshers to get proficient in your skillset.
Adapting to Uncertainty-
Adapting is another one of the benefits to joining a Startups in India. Startups come in smaller teams and the resources at hand are limited. When you work with a startup, you will have to make the best of the limited resources you have.
There will be times when the team may fall behind deadlines or some unanticipated hurdle comes your way. Working in a startup will help you learn how to adapt to changes and how to work with a team with a ‘all hands on deck’ mindset.
Your work will be recognised-
Startups come with a lean structure in the sense that hierarchies are not as complex as in large enterprises. Hence, you have less competition and more exposure.
Your work and the impact you have on the team will be clearly visible. You will not be deprived of the credit for your work. The recognition of your efforts and the effectiveness of your job role will contribute to your job satisfaction largely.
The Growth of startups in India is on the rise with an impeccable speed.
You work in a pool of passion-
Startups are established mostly with an idea that would solve one or more potential problems for the potential target audience.
And such ideas stem from creative, ambitious, and passionate individuals who get together to form a coalition. Since a startup is usually a brainchild of a small team, they care about their work, and when you join a startup you will be a part of that passion.
You will be a part of a dream that a few enthusiastic minds saw together. Working with people who care about their work and prioritise sincerity over anything else is always a plus.
Startups have professionals closely with each other. So, when you join a startup, you will be able to follow your company owner/owners or directors closely. You will get direct access to your company leaders.
This will help you learn more about entrepreneurship. You will be able to see the kind of decisions they have to take, the way they try to keep their team together, what action they take when any unexpected situation arises.
You will learn how a business grows with time and what you can do to scale your business. So, if you have a unique startup idea in the future, you will have complete understanding about how to run a business, which is an added advantage for you and your career.
An out-of-the-box working experience-
If you have worked with large enterprises earlier in your career already, shifting to a startup can be a good idea.
How? You have experience and knowledge that you have gained working at an well-established company which when you shift to a startup will be a huge contribution to the organisation.
You will be able to set a new standard and help the team do better. You will also get a chance to work in a different environment which is not like the strictly corporate workplaces.
You will know how a group of people can together be committed to fulfilling the purpose of an organisation.
MNCs Vs Startups:
A few top MNCs in India that you can work with.
Microsoft, the industry giant of the tech world is the first MNC to look at. Currently, its Indian subsidiary is Microsoft India Pvt. Ltd. currently holding offices in 9 major cities in India, Kolkata, Kochi, Hyderabad, Mumbai, Ahmedabad, and more.
Amazon, the Goliath of the e-commerce world ranks second among the MNCs operating in India. Owing to its high-quality products and great customer service, this American internet business has won the hearts of numerous Indians.
Currently, Amazon has 757,000 employees and is still counting.
IBM, the forefront of the technology companies in the world, is headquartered in Armonk, New York. Presently, it is operating in 171 countries with an astonishing number of 3,45,900 employees. It offers a wide range of services in its portfolio varying from data and analytics to Internet of Things and Mobile, Security, and Infrastructure.
The brainchild of JRD Tata, TCS is the top IT company in the world in terms of its market capitalization. It has a whopping $169.2 billion of market cap, and presently operates in 140+ countries.
Also, TCS is well known for providing sustainable opportunities for the freshers.
Headquartered in Bangalore, Infosys is one of the top IT and Consulting firms in India. It has its operation over 133 locations among 41 countries around the globe. Infosys too is well-known for their freshers’ program.
A Few Top Startups in India you can work with.
Cred, the unicorn child of the Indian Startup ecosystem was founded in 2018 by Kunal Shah. At present, Cred has around 600+ employees and as the company’s growth is skyrocketing their requirement for new talent and professionals is also increasing.
Backed by Facebook, Unacademy is another stallion from the Indian startup stable. It is the second e-learning platform to become a unicorn after its rival Byjus. Since its establishment, Unacademy has witnessed unprecedented growth. The company is looking to expand, and you may end up grabbing your dream job here.
Razorpay, the most common payment gateway, and online payment company. Headquartered in Bangalore, It was founded in 2013. As the nature of online platforms is evolving and online transactions are increasing, it is witnessing a significant growth in the market.
Another one of the rapidly growing startup firms in India is Wow! Momo, the Indian food chain startup, was founded in 2013, West Bengal. This is one of the leading food chain startups bringing pride to the Indian startup. Presently, it is operating over all major cities — Delhi, Kolkata, Chennai, Bangalore, and others.
AchieveX Solutions is a leading IT company, headquartered in Kolkata. It offers a wide range of IT and Marketing services. The company has witnessed significant growth and currently has 50+ employees. With its eyeball in AI, Cybersecurity, and Blockchain, this can be a company to work with.
Conclusion
Both Startups and MNCs come with their own specific list of perks when talking about Jobs in India. It is true that both Startups and MNCs do have their share of drawbacks, but that’s only natural with any company you work with. The best way to make the right choice is to study the perks of both and decide on which set of perks you would prefer to work with.
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