Money Facts Archives | Page 3 of 3

Corporations are heavily present in major cities and often offer remote work for their employees. But because working for yourself or a small business can be unstable, corporate jobs make great alternative employment opportunities. As is commonly defined by the Small Business Administration (SBA), having a corporate job typically means working for a business with 500 or more employees and an annual income of 7 or more million dollars. Furthermore, corporate jobs are competitive and highly prioritize specific soft skills like teamwork, adaptability, and time management. Because corporations offer specific benefits that other organizations do not, you may be wondering which roles are jobs to you. In this article, various corporate positions, and their pros and cons, will be discussed. What Does it Mean to Have a Corporate Job? According to a 2021 article on the popular employment website, Indeed.com, you attain a corporate job upon being hired to work for a large company. Corporations differ from other organizations because their owners possess shares of their own companies. Furthermore, corporations have a structure (or hierarchy) that aids employees through stable promotions. According to this article within the education subscription platform, Masterclass.com, the three tiers of a corporation are: Operational-level positionsManagement-level positionsExecutive-level positions Because businesses must accomplish their goals, entry-level corporate positions are accessible in nearly every industry. Pros and Cons of Corporate Jobs According to data from the SBA within this online document, businesses with at least 500 employees and annual earnings of 7 or more million dollars are typically considered corporations. Before working for a corporation, you should conduct research and consider whether the advantages of your position will outweigh the disadvantages. The Advantages of Corporate Jobs According to FlexJobs.com, the advantages of working in a corporation include: Enhanced resources: At corporations, more work equipment is generally available. You may also have access to higher salaries and bonuses.Increased stability: While it is always possible that you could lose your position due to new laws or changes in the economy, this is less likely to happen at corporations.Professional opportunities: Corporations with established career paths and additional locations will allow you to easily define and more comfortably strive toward your goals.Potential perks: Insurance plans, tuition reimbursement, and on-site facilities provide support and reassurance.Improved structure: Additional training programs and well-defined procedures aid in your development as an employee. With so many advantages to working a corporate job, you might now be wondering what the disadvantages are! The Disadvantages of Corporate Jobs FlexJobs.com also discusses the pros and cons of working for both small and large companies. The following list describes several disadvantages of corporate jobs: Decreased sense of community: At small companies, there is an increased sense of community. At corporations, there may be fewer opportunities to get to know your coworkers in-depth.Less Nimble: Corporations are typically less specialized than small companies. When the economy shifts, you are more likely to be affected.Less Creative Thinking: Unlike small companies, corporations are often cautious and risk-averse (to maintain stability).You may not feel seen as an individual: At corporations, the importance of policies and procedures will often outweigh innovative, personal ideas. There are many advantages and disadvantages to working for a corporation. Ultimately though, it is up to you to choose your place of employment as you decide what works best for you. Recommended Financial Geek Article: Become Financially Independent Without a Job | 9 Proven Ways Corporate Jobs Examples (and Average Salaries) The following list showcases and discusses various job types that you may be qualified for within a corporation. Depending on your industry, different skill sets, education levels, and prior experience may be needed to begin working in operational-level, management-level, and executive-level roles. Administrative Clerks (and Average Salaries) Administrative clerks are operational-level positions that require the answering of phones, filing of paperwork, and usually, the organizing of offices. When working in such roles, postsecondary business education is helpful but not always required. Examples of administrative clerks include: Dental receptionistsLaw office receptionistsMedical receptionists Furthermore, this 2022 article from the renowned employment marketplace, Zip Recruiter, indicates that the average and national annual salary of an administrative clerk is $32,137 per year. Product Managers (and Average Salaries) Product managers (or brand managers) are management-level positions that require employees to analyze data, conduct research, and decipher market values to determine the wants of consumers. Product managers often need bachelor’s degrees in engineering or business and sometimes up to 3 to 5 years of prior experience to obtain their position (according to a 2021 Indeed.com article). Furthermore, according to another 2022 Zip Recruiter article regarding the annual salary of product managers, the average pay they receive is $94,704 per year, which I think most would agree is a great salary in the US. Unlike administrative clerk’s salaries which generally range from $19,500 to $47,000 annually, product managers’ salaries typically range from $31,000 to $146,500 per year. Chief Executive Officers (CEOs and Average Salaries) Chief Executive Officers (commonly known as CEOs) are the highest-ranking, executive-level positions within corporations. CEOs work with other high-ranking staff members, allocate employee positions, initiate marketing procedures, and oversee policies, objectives, and strategies. Additionally, and also as reported by Zip Recruiter in 2022, CEOs’ average annual income is $148,709 per year, with salaries sometimes reaching $318,500 (or more!). Getting hired as the CEO of a corporation usually requires some of the following: A bachelor’s degree or higherAt least 5 years of experienceA business-related certification CEOs salaries are among the highest within a corporation and this is indicative of their high-ranking tier. Yet for such jobs, extensive requirements are necessary. Conclusion Corporate jobs are not for everyone but the opportunities and resources they offer may help you advance your career in ways that working for a small business cannot. With this in mind, working for corporations can be very difficult and emotionally draining. Sometimes, the same strict rules that provide structure, may hinder your creativity or make work difficult for you and others with special circumstances. However, working for a corporation has just as many pros as it does cons. With their increased structure, stability, and perks, working for a corporation can enrich your life. Geek, out.