Forum

Notifications
Clear all

Accepting job based on company.

Page 6 / 6
mcr29
(@mrela13)
Eminent Member Registered

So far in my career I have worked for two different types of companies. My first job was working for a sole proprietorship in a small water purification company with less than 10 employees. My second is for a large established LLC, which has thousands of employees and is well established is dozens of countries here and overseas. While this is a loaded question, the best way I can answer this is that not every LLC is the same and not every sole proprietorship is the same. Every company will have a different mindset and different goals regardless of its structure. In the sense of size, normally a sole proprietorship will be a smaller company because it is much harder to grow being that the financial burden and risk falls all on the owner. This means that the engineers that work under the owner are normally wearing many different hats and involved in a large number of the projects that go on in the company. In an LLC, the risk is not on the owner alone and it is much easier for them to expand in the industry. Therefore, they are typically much larger and when you are an engineer working for them you are working in the same department and completing the same tasks day in and day out. Personally, I much preferred working for the sole proprietorship and things were much more interesting being able to work in many different areas and do something new everyday. Although in my experience, the drawback from this was that the owner liked things done a specific way and would always want to review my work. So it really depends on the company and depends what you are interested in as an employee.

ReplyQuote
Posted : 09/12/2021 10:39 pm
nmcbean
(@nmcbean)
Eminent Member Registered

Prior to learning this information, I never considered researching this information on a company. However, I believe it is important knowledge to have on prospective employers. It would be beneficial, especially for individuals looking for job security and who are looking to build on their experience. If I am interested in the longevity of my role in a company, then it would be best for me to work at a corporation that dies when its owner (s) does (LLP). However, there are other attributes that are associated with a great company. If that LLP is doing great in the stock market, is thriving based on its market value and its competitive edge, then the longevity of my role is not much of a worry in my opinion.  

ReplyQuote
Posted : 22/03/2022 4:14 pm
Alexia Coffer
(@alexia-coffer)
Eminent Member Registered

The decision to form either a limited liability company (LLC) or a corporation depends on the type of business an individual is creating, the possible tax consequences of forming the entity, and other considerations. Both types of entities have the significant legal advantage of helping to protect assets from creditors and providing an extra layer of protection against legal liability. In general, the creation and management of an LLC are much easier and more flexible than that of a corporation. Still, there are advantages and disadvantages to both types of business structures. Creating an LLC is a much simpler process than creating a corporation and generally takes less paperwork. LLCs are under the jurisdiction of state law, so the process of forming an LLC depends on the state in which it is being filed. Most states require filing articles of organization with the Secretary of State and some states allow for them to be filled out online. A few states require an additional step of filing a public notice, often in local newspapers. Once these steps are completed, the LLC is officially formed. Once an LLC is formed, it's good business practice to set out the roles and responsibilities of the members. The members are individuals with an ownership interest in the LLC. Most LLCs use an operating agreement to define these roles. Drafting an operating agreement is not necessary for an LLC to be valid but it is a prudent course of action. If no operating agreement is created, an LLC is governed by the default rules contained in state statutes. Some differences: The creation of a limited liability company (LLC) is a much simpler process than creating a corporation and usually requires less paperwork. LLCs are created under state law, so the process of forming one depends on the state in which it is being filed, Once an LLC is formed, it is good practice to set out the roles and responsibilities of the members by creating an operating agreement to define these roles. The Internal Revenue Service (IRS) does not view an LLC as a separate vehicle for tax purposes, which allows for greater flexibility. Members can choose how they are taxed. They can be treated as a sole proprietorship, a partnership, or a corporation, Two types of corporations can be formed: an S corporation and a C corporation. An S corporation is a pass-through entity, like an LLC, where the owners are taxed on profits and losses of the corporation. A C corporation is taxed at the corporate level, separately from its owners, through a corporate income tax. Corporations offer more flexibility when it comes to their excess profits. Whereas all income in an LLC flows through to the members, an S corporation is allowed to pass income and losses to its shareholders. I personally would turn down a job based upon its type. I want to be in a secure job and do not want to potentially loose it due to me not understanding what I am signing up for.

ReplyQuote
Posted : 23/03/2022 1:20 pm
Leilani_Johnson
(@leilani_johnson)
Eminent Member Registered

In the job search process, I think it is extremely important to research the company’s mission, their financial history, revenue, stability, and reputation. I say this because I believe it can have a huge impact on your individual experience on the job. This is not to say that you have to turn down the job, but it is nice to know. As a recent graduate myself, I understand that it is not always possible to turn down jobs because of these but it can let you know how long you can expect to be at a company, if there are opportunities to move up, and/or opportunities for raises and bonuses.

ReplyQuote
Posted : 23/03/2022 5:22 pm
JCampbell08
(@jcampbell08)
Eminent Member Registered

I would not consider turning down a position based on the type of company it is. I did the same as and did some research on my current company before applying. I looked at some of the company's financial history, revenue, stability, stock price and reputation. One major thing for me was speaking with former and current employees whom all of which told me they love/loved it. Many of my colleagues have been with the company for 10+ years which speaks to the quality of the company and how well they take care of their employees. I also have never looked deep enough to understand the risk behind accepting a position in a Limited Liability Company vs Corporation vs Sole Proprietorship vs partnership. In regards to pay raises, bonuses, and getting a higher position. I have learned that when you transition every 2 to 3 years pay bump is almost guaranteed.

ReplyQuote
Posted : 23/03/2022 10:12 pm
jafangnibo
(@jafangnibo)
Eminent Member Registered

I think like most others, I would mainly do my research on the company based on size, how long they've been established, how they compare in industry, their best products, what they stand for, etc. As I gain more experience in my industry, then I believe I would be more likely to turn down a company based on what company they are. Although it is a interesting area to to look into, it is currently not that important to me.

ReplyQuote
Posted : 26/03/2022 1:22 am
takward
(@takward)
Eminent Member Registered

I’m just like you. I’ve never looked that hard into a company before. I don’t think that the positions that I apply for would need that much background research from me. I do research a little about the company for the interviews, as far as knowing what they do, and little fun facts. But recently I clicked on a company’s financial page on their website and had no clue what I was looking at. I think that is important if you’re looking into investing or buy shares of the company, but just for a regular job, I don’t find it necessary. If they company fails, you can always apply for another job elsewhere.

ReplyQuote
Posted : 26/03/2022 11:10 am
salston
(@salston)
Eminent Member Registered

I would not consider turning a position down based on the type of company. Before accepting any position, I normally do some research on the company to gain a better understanding of the company. During my research, I look at their financial history, turnover rate, and what they have to offer their employees individually. I have never taken the time to understand the pros and cons of the various types of companies. I believe if you can a find a great team to work with that pays to your satisfaction then the type of company should not matter. I feel like considering a position based of the type of company also depends on what stage you are in in your life. Some people come into a position for a steppingstone and not long term. I believe turning a position down all depends on the individual and what they need and can manage at that given time.

ReplyQuote
Posted : 26/03/2022 11:17 am
Page 6 / 6
Share: