Industry Insight: Publicly Held vs. Privately Held Companies
Just to clarify, I’m not discussing public Accounting here.
To give you some context, I recently moved from Washington, DC, to a Midwest city that only has two major public companies, while the remainder are various manufacturing firms and smaller enterprises. My question is: Do public companies tend to undervalue experience from private companies? My concern is that if I end up working at a smaller, perhaps less dynamic job, it could negatively impact my future opportunities.
I recently got promoted from a Fortune 100 public company to a managerial role, but life circumstances have brought me to a location where large-scale companies are scarce. I realize I might be sounding a bit elitist, but I do value the prestige associated with working for a well-known company.
One response
It’s understandable to be concerned about how your career moves may impact future opportunities, especially when transitioning from a large public company to a smaller, privately held one. However, there are several factors to consider:
Valuable Skills: Many of the skills and experiences you gained at a Fortune 100 company are transferable and valuable regardless of the company’s size. Focus on how you can apply those skills in a new environment, and look for roles that align with your expertise.
Networking: Working at a smaller company can provide unique networking opportunities that may be beneficial in the long run. Cultivating relationships and showcasing your abilities can lead to unexpected opportunities, including connections to larger firms.
Company Reputation: While some larger companies may place a higher value on experience from prestigious firms, many also recognize the value of diverse experiences. If you’re able to demonstrate success and growth in a smaller company, it can reflect positively on your adaptability and ability to thrive in different environments.
Long-Term Vision: Keep an eye on your long-term career goals. If you believe that working for a smaller company will help you develop important skills or provide experiences that lead to your desired positions in the future, it may be worth considering, even if it feels like a step back in terms of prestige.
Culture Fit: Sometimes, smaller companies can offer a more engaging work culture and better work-life balance compared to larger corporations. If you find a role where you feel fulfilled and challenged, that can also outweigh concerns about prestige.
In summary, while there might be a perception that public companies prioritize experience from other public firms, what truly matters is your ability to leverage your past experiences to add value, regardless of the company’s size. Emphasize your achievements and continuous learning, and don’t underestimate the potential benefits of working in a smaller company.