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7 Benefits of Working for a Corporation

24 November 2018 No Comment

What are some of the things you’re looking for in an employer? Job stability? Steady income? Health insurance? Well, a large corporation can provide these trappings and more, whereas a smaller company or startup might not be able to. That said, here are seven benefits of working for a corporation that the freelance lifestyle or working for a startup just can’t match.

1. Steady Salary

Working for a corporation as opposed to a startup means you’ll never have to worry about the company not having the funds to pay you, which could happen at a startup. Because corporations are well established and because many have been around for more than a decade, you have the peace of mind knowing you can count on a weekly or bi-weekly paycheck.

2. Health Insurance

Corporations typically have more than enough funds to provide their employees with health insurance. Usually, a portion of your paycheck is automatically debited from your paycheck each pay period and that money goes toward paying for your employer-sponsored health insurance. Some companies offer vision and dental benefits as well. Typically, your company will offer a traditional indemnity plan, fee for service, managed care, a medical savings account, or self-insurance.

3. Vacation Days

When you’re a freelancer or working for a startup, you might not have the luxury of taking paid time off for a vacation or just a personal day. But if you work for a corporation, you’ll likely be offered at least one week of paid time off each year, but oftentimes, it can last up to two weeks, depending on the company.

4. Work Perks

Working for a corporation means getting access to a certain amount of perks that startup companies probably won’t be able to offer you. Large companies offer a range of perks, including things such as tuition reimbursement, profit sharing, company sports teams, off-site work events, and free office snacks. For example, Nike, Google, Disney Parks and Resorts, and Home Depot offer on-site childcare at some locations, so parents can work with the convenience of having their children nearby. Cash bonuses, new tablets, and season passes are other work perks a corporation might offer that startups most likely wouldn’t.

5. Amazing Freebies

Some very generous corporations offer amazing freebies in addition to work perks — like Reebok’s CrossFit classes, Gentech’s onsite spa, and car wash, or Goldman Sachs’ All-Night Scavenger Hunt. Google offers its employees gourmet breakfast, lunch, and dinner according to Time.com. Many larger companies have also been known to throw in gym memberships or yoga classes as part of their benefit packages. Other companies, such as Amway, offer free personal financial management services like budgeting, and investment and retirement planning.

6. Resources

Larger companies often have more resources available for their employees than startups and smaller companies. Freelancing offers even fewer resources. That’s why working for a larger corporation can be beneficial if you’re looking for a company that can provide you with as many working resources as possible to enable you to do your job to the best of your ability. Resources might include high-quality computers with high-speed internet access, a business phone, or — at really big companies in high profile positions — a company car.

7. Life Insurance Benefits

Life insurance is an invaluable asset to have in the event that you or your spouse passes away unexpectedly. Not only would your family have protection in this scenario but they’d be able to pay bills for years to come. Large companies often offer life insurance protection at a fraction of what it would traditionally cost you. In addition to life insurance, some corporations offer accidental and disability insurance.

While working for a startup might sound like a good idea at first, it comes with its downfalls. Job instability and inconsistent pay are just a few of the cons of working for a startup. Corporations can provide job stability, perks, and freebies that you won’t find at smaller companies. Not only can you count on a steady paycheck, but you can also look forward to health insurance, paid time off, and a range of other perks and freebies. So if that sounds like what you’re looking for, a corporation is where you want to be.

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