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Many of you must have encountered, and many will encounter a situation where you have an option to make a choice. You have to choose if you should join an MNC or a startup as a product manager. Are you facing this dilemma? Then don’t worry. Today’s podcast is going to help you understand what you should consider while making this choice.
Hi, my name is Sachin Sharma. I have over 10 years of experience in the product management role, and I have mentored over 1,000 aspiring product managers so far. Today, I will be helping you understand how you can make a choice between an MNC and a startup. So get ready with your notebook and pen to jot down these powerful ideas.
First of all, you should understand that one size never fits all. Some people think that MNCs are good, while others think that startups are good. All MNCs cannot be good for everyone, and startups cannot be good for everyone either. So, while making this decision, you should evaluate what’s important for you in your job and the company you are looking forward to. Based on that, make your decision.
Here are three primary points that you should consider while making this decision.
Number one, job stability. Many people think that jobs in MNCs are quite stable. If they become a part of an MNC, they believe they will not get fired. But let’s see the ground reality. COVID was really harsh; it was a cruel time for the world, literally for everyone. Even the private sector was hit, and MNCs laid off employees. This is not limited to MNCs; many startups also had layoffs during that time. Job stability is not solely about your choice; it depends on your caliber as well. It depends on how much value you can bring to the table. You have to showcase your capabilities and make your results speak for you. If you are delivering great value, no one will lay you off. And even if you do get laid off, you can easily find another job.
Now, the second thing you need to consider is the processes or the level of hassle. What’s important for you? MNCs have established processes in place, while startups may not have these processes because it takes time to build them. If you are looking for a 9 to 5 job, then MNCs are the best place for you. If you are willing to give more time, then opt for a startup. This hustle will provide you with more opportunities like transitioning within the organization to other roles, promotions, appraisals, and more. In startups, your growth and results are often very visible to higher authorities, and they are transparent. Sometimes, it’s not as transparent in MNCs due to their processes. If it is visible, there might still be processes to follow for promotions or transitions. So, you cannot ignore that aspect.
The third point to consider is the recruitment process. MNCs have robust processes, including their recruitment process. They are typically more rigorous compared to startups. Another factor is the high competition. When there is an opening for a product manager or a related role in a big brand, many people apply, bombarding these companies with resumes. However, this is not the same case for small startups because they are not as renowned. Very few people apply to startups, which means lower competition and higher chances of selection. When the competition is high, the chances of selection are low.
If you want to know my personal take on this, if you are someone who is younger than 27 years old, full of energy, and looking forward to learning a lot, go with startups or small organizations. After gaining a few years of experience in startups, you can switch to MNCs; it’s not a big problem.
I hope you found this podcast insightful. If you are already part of my community and are learning there, I highly recommend you upgrade to the diamond membership to elevate your product management game and surround yourself with other achievers and action-takers. I have helped many freshers, working professionals, and entrepreneurs break into product management roles. If you are not part of my community, join my free training on Catchupwithsachin.com/saw-live. Take action, and I would love to serve you more in my community.
All the best, take care and catch my future episodes.
