For many new college grads, large, multi-national corporations can be a great place to gain work experience and even establish a life-long career. Yet corporate America has a bit of a reputation (to say the least), and for some students, the decision to pursue (or not pursue) a job within its ranks can be a difficult one. While there are undoubtedly some kernels of truth in every story you’ve heard, there are also a lot misconceptions, misunderstandings and just plain mistruths about such a work environment as well.
Here, we’ve collected some of the most common myths about working in corporate America — some of which will affect your everyday life or are just good to know when deciding between working for a big business, a smaller one or a nonprofit. While we’ve tried to give some perspective, it’s also important to remember that each business is different. What holds true for one might be quite a different story at another.
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If you work hard, you’ll be promoted
One of the sad realities of the working world is that no matter where you work, putting in long hours and bending over backwards to make sure projects do well doesn’t mean guaranteed success. While working hard will never make you look bad (nor is it something you should shy away from), the reasons some are chosen for promotions are often much more complex and difficult to understand. Factors like leadership ability, attitude, teamwork, and unfortunately, favoritism will also come into play. Whether you’re in a corporate setting or otherwise, hard work alone may not be enough to get you ahead. Focus on other aspects of your career for a more well-rounded approach at scaling the corporate ladder.
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Being right will get you ahead
You told your boss that the ideas for the presentation wouldn’t work, and you were right. Think this will help you win favor as a voice of reason? Think again. Much like being right won’t always serve you well in a relationship, doing so at work won’t win you any bonus points. Even if you could predict that your corporation is running itself into the ground, there’s usually little you can do to stop it, especially if directives are coming from the top. The reality is that no matter how good your ideas for changing a business might be, most corporations don’t really want to change. That doesn’t mean you can’t or shouldn’t try, just that it should be done with great delicacy, as it could brand you as a rabble rouser rather than a dedicated and innovative employee.
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Business leaders are born, not made
This myth is pervasive in all aspects of business, corporate or not. While some are surely born with more traits making them inherently good in the business world, there is nothing standing in the way of anyone else learning and honing those abilities to become just as good a leader. The best tool for those eyeing a leadership role? Hint: it isn’t genetic. Experience, which anyone entering the corporate world has the chance to gain.
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Businesses will not discriminate based on age, sex, race or other factors because it is illegal
While most corporations do their best to adhere to discrimination laws, the reality is that employees are regularly judged on their outward appearance. Corporations spend a lot of time and money trying to give the image that they are accommodating and inviting workplaces for all, but that isn’t always true. In recent years, age discrimination complaints have gone up 17%, and women still earn less and have to work harder for promotions than their male counterparts. It isn’t fair, but it’s the reality. New grads heading into the workplace need to be aware of potential hurdles that have nothing to do with their qualifications.
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Corporations always choose the option which makes them the most money
While a corporation certainly exists as a vehicle to make money, many would be surprised to know that not every decision a business makes yields the most profit. Many decisions are made to enhance a brand, compete with other companies in the market, create a better image, protect senior execs or even pursue the weird agenda of a CEO. Some of these decisions might earn more money, but some may not. Think that sounds silly? CEOs of some of the biggest banks in the world did just that, as chronicled in the book Too Big to Fail.
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9 to 5 jobs with corporations are stable
While someone with a 9 to 5 job has a more steady stream of income than their counterparts who chose freelancing or building their own businesses, these positions aren’t impervious to fluctuations or the whim of higher ups. Layoffs, cut backs and loss of benefits are all pretty common these days. While in years past, a 9 to 5 with a corporation might have been the best option, these days it’s anyone’s guess whether long term stability is greater within a large, small or self-owned business.
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Knowing the right people, not your skills, will get you a better position
Networking does play a role in success within the business world, but it often takes on a smaller one than you might think. While knowing the right person might open you up to even being considered for a certain position, it won’t land you the job. Your skills, passion, experience, leadership ability, flexibility and intelligence are all incredibly important — if not more so — than whom you know. Many of the most successful businesspeople today got there through their own drive, not knowing the right person.
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Large corporations employ most Americans
While politicians might have you thinking most Americans work in major corporations, the reality is actually quite different. Major, multi-national corporations employ only 38% of the private sector workforce. Where are the rest? Mostly in smaller companies, with 95% working in businesses with 10 or fewer employees. For those on the fence about work in corporate America, these smaller businesses can offer an alternative that many students might find more appealing.
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More money will make you happier in your job
Think you’d love your job more if you landed a raise? While making more money, especially if you work hard, is rarely a bad thing, research has shown that it isn’t the best motivator or indictor of overall happiness. What is? Finding meaning and purpose in your work, often accomplished through being challenged, respected and trusted on the job. These factors, much more than monetary incentives, resulted in happier, healthier corporate employees.
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All multi-national corporations are the same
All multi-national corporations tend to get lumped together as having a singular corporate identity and philosophy, but this simply isn’t true. While some corporations might fit the bill for the money-hungry and ruthless stereotype, the reality is that each and every business environment is different. At one extreme, you have corporations, like Enron, that thought nothing of bilking hardworking employees out of their money. On the other, you have businesses that aim to foster a sense of community, share profits with employees during bumper years or — like Google — provide employees with an amazing suite of benefits. There is no singular corporation, and the only way to determine whether working for a given business would be good or soul-crushing is to do your research.
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Work ends when you leave the office
The Internet has been both a boon and a burden for modern day employees. On one hand, it offers flexibility and immediacy, on the other, it has tethered the average worker to the office no matter where he or she goes. For most corporate employees (depending on your position, of course), work won’t end the second you step out the door. Many must still respond to emails and calls, even on weekends and in the evening. Many others take work with them on vacation. Some are even obligated to stay on-call. Nine-to-five doesn’t always mean just that.
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An MBA or PhD is required to get into top echelons of management
While it certainly doesn’t hurt, it’s not a requirement, no matter who tells you that it is or what business schools would like you to believe. What’ll really earn you a promotion into an executive office? A killer resume, lots of experience, demonstrable leadership ability, hard work, business know-how and good communication skills — none of which require an MBA (or PhD) to hone. Fewer than one out of three executives who reach the top of the corporate ladder even have an MBA.
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To succeed in corporate America, it’s every man for himself
Looking out for your self-interest at work can be a good idea, but not at the cost of office relationships. Managers usually aren’t looking for the cutthroat and self-absorbed to take on leadership positions, though we suppose it depends on the type of business. Instead, those who show the ability to work well in a team and motivate others are much more likely to stand out from the crowd — so long as another employee just out for him- or herself doesn’t try to snag the credit.
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A job in corporate America will be soul-crushingly miserable
Not every office job will be as soul-crushing as those depicted in films like Office Space. In fact, many working in corporate America find their jobs challenging, engaging and perhaps even fun at times. There may be aspects of the lifestyle that don’t jibe well with workers, but that doesn’t mean working in a cubicle has to be a miserable experience. That certainly isn’t an experience shared by every worker.
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Your private life is private
Think what you do on your own time outside of work is your business and yours alone? Not so. Everything you post on the internet or do in public can be grounds for your corporate employers to fire you. Think it’s unfair and a violation of your right to privacy? So do many workers, but they are within their rights not to have in their employ a person who could reflect badly on their business. There is very little legal recourse for workers who are fired for online offenses, so be careful what you say and do online — big brother (or your nosy boss) is watching.
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