Internship Destination: an MNC or a Start-up?
Internships have become an integral medium of self-development and acquisition of real-life experience of the corporate world. While it is commonly believed that one develops their soft and hard skills through courses and certifications and gain knowledge from books, it is important to note that internships help to understand and practice the application part of it. Hence, there has been an upsurge in the demand for internships.
Selecting the right place of work can be a daunting task for anybody. This particular segment was drastically simpler a decade ago, it was uncommon to weigh in all the aspects and factors with regards to the work-life to make the choice. With several options available, it becomes difficult to screen through the opportunities to find the right kind of work.
Now the main question arises, which one should you opt for, an MNC or a start-up? Is the name and reputation of a large MNC sufficient to make this decision? Or should you join the team of entrepreneurs who are trying to give birth to the next unicorn?
Nature of Work
The work which you will receive in an MNC as an intern is likely to be monotonous and tedious. However, if one can navigate through that, the learning outcomes can be plenty. MNCs can provide a proper guide to the corporate world.
On the other hand, the flexibility of a start-up gives you the room to work in multiple avenues. Understanding the roles of other team members could help in finding your niche, discovering hidden talents, and becoming an efficient collaborator in the long run. As an intern, you would also get to choose what to work on from a setlist. So, it’s more about the varied kinds of work you can perform rather than about your job description.
Structure and work environment
MNCs work in a structured manner wherein a chain of hierarchy is followed. So if you are someone who thrives in well-structured setups, MNCs will be more suitable.
Start-ups are fast-paced, with dynamic projects and weekly goals. You are less likely to know what’s ahead of you before you start. The team boundaries are a lot more blurred with no well-defined roles. You would get access to everyone from diverse departments, and get to know about their roles. You get to work closely with senior colleagues and your inputs and opinions for decisions tend to be valued just as much as the next person’s. The little relaxed and open work culture and horizontal hierarchy facilitate an incredibly fast flow of knowledge.
Resources
It is no surprise that MNCs have a huge amount of resources at their disposal. This implies that MNCs can not only provide a sufficient amount of remuneration but other forms of support such as reimbursements, hardware or software support, etc.
On the contrary, time and resources are limited and extremely valuable especially at the early stage of a start-up.
Training and Development
Due to their abundant resources, MNCs are known to spend considerable time making sure that the interns have the necessary expertise and competence to fulfill their role in the firm. Hence, interns receive high-quality training which increases their skills and abilities. And such training would have been expensive if third-party trainers were hired. However, there is a downside to Learning & Development (L&D) in MNCs as there is a lot of mandatory training which is often very theoretical or too basic in nature. Especially training through pre-recorded videos in MNCs may not be that fruitful.
In a start-up, you would be in close contact with seniors and the executive frequently and would be able to know their vision, approach, skills as well as ask them questions and get clarifications. They are usually there to teach, help in understanding certain concepts, explain how something works, give personal advice, and encourage you to learn.
Recognition
Since MNCs easily attract a large number of applications, being selected is an ordeal in itself. And the problem doesn’t stop there, chances are that you are one of many selected, and standing out amongst everyone is a vertical climb. And being at the bottom of the chain, chances are that even if you supersede expectations, not many superiors would get to know about it. Hence, if you are someone who feeds off recognition, MNCs may not be the best choice.
In a start-up, the intern is seen as a co-worker and a part of a team where everyone shares a great amount of responsibility. You would get to work individually or in groups on real projects, and show ownership of them. Individual and group performance of each person will have a considerable bearing on the functioning of the start-up, which often keeps one attentive and driven.
Learning Curve
In an MNC, your learning curve will most likely be restricted to your field of work. And your interactions in the formal setup will also most likely be restricted to your department. This hinders your exposure to other fields in the initial phase since it’s important to explore various segments before deciding on your career. Hence, your learning in the department in which you are in will be steep, however, it would be flatter in general.
Start-ups focus more on interest, passion, and flexibility and would encourage you to step out of one designated role and to expand your horizons. You will learn to adapt quickly, while slowly and steadily gaining various skills. Compared to MNCs, start-ups will involve more hustling and less hand-holding. Even by interning for a short duration, you can witness the start-up grow (or not) in front of yourself.
Implementation of work and Amount of impact
The work of an intern in an MNC mostly involves the grass root level work of a project, hence, you may find it difficult to see the impact of your work on the actual result.
At a start-up, you would be able to monitor the output of your efforts. You get to see the larger impact of your actions and interventions right in front of you, which is usually not possible in MNCs where you are just a small part of a very large organization. You would also get projects which have a direct and immediate impact on people. Your success is easily noted, but so are your failures.
Entrepreneurial development
The monotonous nature of work in MNCs might not provide the best conditions for nurturing entrepreneurial ideas. Though this may not be true for certain internship profiles, from a generalized viewpoint, this will be the case.
While working in a start-up, you will be in the middle of all the action, and watch everything being built from scratch. Most start-ups actively ensure that everyone stays in the loop and hence give you a valuable view of all the different roles and aspects of work. Your ideas are the fuel for the start-up you intern for. All interns are encouraged to share ideas, give and receive feedback. Interns take part in discussions and brainstorming around upcoming challenges that will require problem-solving, creative thinking, and critical engagement. This practical, transferable experience allows you to see the inner workings of an entire (small) company which would be beneficial for self-development as well as if you plan to set up your organization.
Conclusion
The notion was simple, the bigger the company, the better the job. And this mantra is still followed to some extent. However, the public image of start-ups has taken a massive turn. With tons of start-ups sprouting in each corner, the work-life provided has only become more lucrative. The sense of accomplishment provided by start-ups has started to supersede the job security of the big firms. Not every start-up or MNC is the same as there will always be complexities, variations, and nuances that are difficult to generalize.
In short, there is no correct answer in a choice between MNCs and start-ups. Since internships are the best way to get actual experiences in any particular job or field without making any long commitments, the best way to find your niche is to dip your toes in both of them. There is a lot of grey area to work around and the choice should be made based on keeping in mind your interest, personality, personal preferences, and career goals.
This article was jointly written by Rahul Saha and Aswathy B. Surendran from Elucidation Today.
