I recently graduated with a Master’s in Business, determined to get into the job market. However, my relatives want me to render my expertise in finance in our vast family business.
I am worried that this environment may not spur my professional growth and also may not be as assertive as I otherwise would, if I was working elsewhere. My main concern though, is that I may not be remunerated competitively.
Should I turn this offer down?
Take advantage of this opportunity and get exposed in different departments of the business, a luxury you may not enjoy if you are employed in the corporate world.
You will also gain the much needed experience which will be useful in the corporate world.
Most family owned businesses fail because of lack of professionals since they prefer to engage services of relatives who more often than not are not qualified.
If you take up this offer, they must allow you to employ professionals for the critical sections within finance department.
As for remuneration, use the readily available data from most audit firms to determine your worth. You could also benchmark with your peers who are in corporate employment. Not forgetting that you are responsible for your professional growth; consider joining a professional body.
It will also create a forum for you to interact with your peers, and keep you updated on emerging issues.
Also, exploit all advancement training opportunities available, so as to keep abreast with new knowledge in your career.
They must also define your span of authority and control since this will guide you in terms of what you can approve and how far you can go in terms of enforcing certain controls in the organisation.
Your competence, demeanour and how you interact with both your superiors and peers is what will endear people to you and earn you respect.
You must however ensure that you don’t become complacent when you join the family business in terms of diligence, work ethics and discipline, otherwise you will find it very difficult to work in the corporate world in future.
Weigh your options but my advice would be that you consider the offer especially if they will be willing to meet your side of the bargain in terms of span of authority and remuneration.