Is It Better To Work For A Small Or Large Company?
Career planning is something that we all do. Regardless of how much thought we put into the process. Even someone who is happy in their job has to make decisions that could affect their career.
- Should you pursue that promotion?
- Should you accept the promotion if they offer it to you?
- Is it worth relocating to another area for a new opportunity, or will you be happier with the status quo?
These are a few uncertainties people find themselves in throughout their career.
Sometimes included in this line of questioning is what I call the fish or pond question. “Do I want to be the big fish in the small pond or the small fish in the big pond?” Rather than concentrate on the financial considerations in this type of decision. we will think about the decision from a career growth and planning perspective.
One of the major shifts in the working world over the last few decades is that workers have become more mobile. According to a recent study by LinkedIn, members of Generation X that graduated college between 1986 and 1990 had two jobs in their first ten years of working.
Millennials that graduated college between 2006 and 2010 are on track to have more than four different jobs in their first ten years in the workplace.
To be fair, some of this is can be to changes in the economy. Those same millennials graduated into one of the worst job markets since the Great Depression. Some of those job changes may not have been the employees’ choosing.
The manufacturing and industrial sector actually showed some of the least job-hopping of the different sectors. It was still 60% higher than the GenX population. What is clear is that the younger generation has shown a propensity to move around between jobs.
Statistics are helpful in understanding generational differences. When it comes down to individual careers, they are not helpful.
Millennials will be deciding about career moves more than their predecessors. Sometimes, they find themselves deciding whether to be the big fish in the small pond or the small fish in the big pond.
It is important to understand your own personal preferences. As well as the pros and cons associated with each move.
Big Fish, Little Pond
Titles can be fairly important when someone is reviewing a resume. In terms of gaining experience, it is better to gain a wealth of experience with an unflashy title, than have a great title that does not provide the accompanying experience.
Smaller organizations (little ponds) often provide this type of opportunity. Startups may fall into this category. There are also well-established businesses that stay small.
In smaller organizations, people tend to have a variety of responsibilities. When there is a small number of employees, it is harder to have job descriptions that specifically spell out each role and responsibility. Some people do not like to work in such ambiguity. Others will thrive and should seek it out.
Another benefit of being in a little pond is that you are more likely to get exposure to, and understand, the entire pond. Without layers of bureaucracy, people working may have to interact with different departments. Examples are operations, sales, accounting, HR and even the C-suite.
This type of exposure allows people to make positive impressions. When opportunities arise to move around within the organization, working in a small company gives you exposure and knowledge. This can help in branching out to other areas of the business.
Little Fish, Big Pond
As exciting as the small pond seems to some, many people are going to get their thrills from splashing in a bigger pond where they may have to start out as a smaller fish. For some, it may be the prestige of working for a large company or the perceived stability. By and large, being a small fish in a big pond can lead to greater expertise through specialization.
Larger organizations tend to have more available resources to hire staff. As staffing grows, one of the results is increased specialization. Someone in a small firm may have been pulled in different directions to meet production demands or client needs. The person in a large pond will typically have more focus in a larger organization.
Another thing to keep in mind is that large employers often have more resources for growth and opportunities. This is for people to progress in their careers. A smaller company’s learning opportunities may be on-the-job or less programmatic. Many larger organizations are going to offer formal programs to develop their human capital. This may include:
- Assistance in continuing education
- Formal leadership development programs
- Programs that allow employees to work in different sections of the business
Many of these experiences can give employees some of the small pond benefits to go along with the features a larger organization offers.
It is human nature to think about our careers, where we want to see them go and how to get there. Figuring out where to work can be a difficult decision to make. If at some point, you are faced with the decision to go be a big fish in a little pond or a small fish in a big pond, it probably means you are doing something right.
You already have multiple opportunities, so now you can weigh the pros and cons from a strategic perspective. You can do this all the way down to the specifics each company is offering.
You have to trust your instincts and go where you feel most energized about contributing and find the fish pond fit that works for you.