Differentiating between startups and MNCs is quite easy. The difference between two is similar to the difference between casual wear and formal wear. The difference is same as the difference between fun-filled no-formalities-involved group discussions and sophisticated meetings. The difference can also be compared to no fixed working hours to fixed nine to five on the dot working hours. Or the differentiation can be based on the difference between everyone-is-boss-here and I-am-your-boss-and-you-better-mind-your-own-business like literally. In short, when you talk about startups words like new, fresh, hard work and fun comes to your mind. However, MNCs are all about being prim and proper. Startups are known to give more exposure. However, MNCs are already well established and are not at the risk of failing. Discussed below is a comparison between the two in a more detailed and logical way.
Entrepreneurship:
Before starting your own business, it is quite natural that you look around and work for others to gain some experience and contacts. If you are doing a job to gain experience and understand this complex terminology called Entrepreneurship, then startup is the best option for you. Startups have a tendency to value everyone’s opinion. Also, you are in direct contact with the head or the founder of the startup. It helps you make strong connections and understand the workings of a company from the very basics. In an MNC, you cannot hope to gain experience in the entrepreneur world. You will have to stick to your field, your monthly targets and your projects. Other than that you will be stuck with your team, it’s rare that you will get to meet new and talented people.
Scope:
There is no doubt in the fact that startups are always under the risk of failure whereas, MNCs are already successful and established. However, this can be considered as a disadvantage of an MNC also. There is a little scope for growth. However, in a startup even with the risk, the extent of growth is very significant. You grow along the startup. You make mistakes and rather than getting the pink slip; you get experience. You learn a lesson. You can come up with your ideas and use them for the growth of the startup.
Skills:
Typically, an MNC demands a degree and lots of experience. However, startup focuses on skills and not on your level or your previous experiences. For young Entrepreneurs, who are looking for a job on a short-term basis, startups are perfect for them. They don’t require experience, but they give you experience. You don’t need to come up with an experience filled two pages long resume. The only thing that matters is your skills. You can be in the top management solely on your skills and not twenty-five years prior experience.
Lifestyle:
Startups are the result of a young and creative mind. This leads to a fun-filled, casual environment. The atmosphere is light and not so much sophisticated. You don’t need to be formal all the time. The only thing that matters is that work needs to be done on time. However, MNCs are much more structured. They call for proper dress code, official meetings and other strict nine to five rules. Even though MNCs can be more luxurious, and they are, the environment at startups is much more comfortable. They don’t need to show off. They need a place where everyone can work(you can even play music while working if you want!).
Stability and Security:
MNCs due to their ‘already established’ status can provide much more stable and secure job. The salary is fixed, and everything is done as stated in your job offer letter. However, startups due to their ‘still trying to get there’ status are not able to give a secured job or salary for that matter. The profits and losses of the company in not fixed. Overtime and casual meetings are very common. You may even have to leave your job due to the failure of the startup. In short, startups cannot provide you stability. For people, who are looking for long-term stable jobs, MNCs are undoubtedly a better option. But for some recognition and individual identity, startups are the best.
With all these points, the conclusion is that, if you are an Entrepreneur and looking for some experience, startups are the best for you. Startups will give you experience not only in your field but everywhere. The transparency of the startups will make it easy and comfortable for you to work. If you are creative and want to be heard as an individual, you need to go for a startup. However, if you are looking for something more stable and secure, you should opt for an MNC. They provide you with a regular job, where you will be entitled to your project. Now, it’s up to you and your requirements. You need to choose whichever you seem is the best option for you.
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