Choosing the right company for your job

Choosing where you work will always have a major influence on your career opportunities. It is always more secure to work in a growth industry as lay-offs and facility closures are financially and emotionally painful for any employee and his family.

A person with an average capability in an attractive industry frequently makes more money and enjoys more rapid career advancement than a more capable employee in an unattractive industry. Also, the longer you work in an industry or field, the more difficult it is to switch if your first choice turns out to be a poor one. You become labelled with that industry or occupation. For example, “Tom’s an automotive guy” or “Sarah is an accountant.”

Once you have been in the job a couple of years, your compensation will have risen above the entry-level. Even if you are willing to take a pay cut, it may be difficult to convince your company to let you move into another function or to convince another company in an unrelated industry to hire you.

So how do you go about to choose the right company? Although there are no fixed and hard rules, there are two rules of thumb to use as guidance:

a) If you are part of a winning team, then growth and profitability are more likely. Company growth and profitability usually translates into more career opportunities (promotions, personal development), less risk of losing your job from a lay-off and more financial rewards (company stock price, profit sharing).

b) Working for a winning company is more fun and it conveys more status, pride and esteem. You tend to learn more at the best companies and competitors are more likely to seek you out with job opportunities involving salary increases and promotions. Don’t get stuck in a future job interview needing to explain why you picked a loser for your first job!

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