With the increasing number of career choices in front of students, there is often confusion among the students to choose the right career. After the launch of the “Startup India – Standup India” program by our government, people are now getting more inclined towards entrepreneurship. We should choose a career by knowing the pros and cons of each path, and analysing our strengths and weaknesses so that we can know which career suits us the best.
A job is any work which is performed in exchange for money and similar benefits.
Pros of having a job:
- Flexibility: Having a corporate or any sort of job allows you the freedom to work in the field of your interest, with multiple projects and a variety of positions, one can choose the field of interest and can also upgrade the skills working in different departments.
- Additional benefits: Apart from having fixed and timely salary benefits, the corporate sector now provides a wide range of other benefits, which include insurance (health, life, accidental), a bonus which also boosts the morale of the employees, and work-from-home benefits which provide work time flexibility.
- Teamwork: Corporate jobs provide us to work with a variety of people, which develops our team working skills, develop leadership qualities and also increases mutual understanding among the employees.
- No investment required: No Job requires any type of down payment or investment and involves lesser risk in terms of job stability even if u lose the job you can get another job easily if you have the credentials.
Cons of having a Job:
- Time Barrier: Every government or private sector have some rules and work ethics that need to follow and there is always a time constraint to complete the assigned task.
- Getting time off: Having a job doesn’t give much personal time, one needs to work overtime and also needs to follow the same routine, which is sometimes tiring.
- Recognition: Hard work is not always proportional to success. In some government as well as private sectors people don’t always get promoted on the basis of their abilities but due to their connections.
- Keeps you confined in a box: An Entrepreneur is one who is not hesitant in taking risks and working in any position in the company, while a person working for someone usually spends his half of time in a cubicle working on someone else’s dream.
The willingness to start a new venture keeping in mind the risk and difficulties in order to make a profit is entrepreneurship, or when someone identifies an opportunity and converts them into a viable process.
Pros of having a business:
- Be your own Boss: As an entrepreneur one gets to create things, which makes one stronger, and a lot more courageous and confident to work according to their own schedule as well as can bring out more job opportunities for everyone.
- Adaptability: The entrepreneur knows how to use the resources in the best possible ways and knows how to survive in the worst conditions possible. They are more flexible and have more leadership qualities and you end up being the jack of all trades.
- Retirement: At the end of the day you own nothing in the job but being an entrepreneur one has something of their own and also gives your family a secure future if you plan the finances correctly.
- Satisfaction: One gets to follow his/her passion which brings more satisfaction and gives more happiness in contrast to a job or working for someone else’s dream. The degree of satisfaction is always proportional to success.
Cons of having a business:
- Responsibility: Entrepreneurship is a risky task. Each and every step one takes involves risk and planning and any loss incurred or damage would be the accountability of an entrepreneur.
- Investment is required: Starting your own venture requires investment, if not huge capital and manpower, which is sometimes very difficult to get through.
- May make you live a simple life: Few entrepreneurs live a lavish life, but most entrepreneurs in their early phase live an ordinary life, to save their expenses.
- More Stress and Risk: Building a company from the scratch requires a lot of work do and makes one go through a lot of stress both physically and mentally.
Every sector involves certain kinds of risks and benefits. It depends upon the individual thoughts & interests, strengths & weaknesses to choose what they want to follow. One needs to discover the path to follow, by knowing what the path offers and does not offer.
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