by Vonda J. Sines

Created on: September 02, 2008

The answer to this question is probably a resounding, "It depends."

If you seek lots of direct daily contact with your co-workers and a more laid-back or informal work atmosphere, working for a small business should be your priority. Second choice would be working in a small department within a large corporation or within a non-profit organization.

However, many workers have a variety of different priorities, short- or long-term. Some of them include:

1. Paid time off: I got a big surprise a couple of years ago when a friend had emergency surgery and was off work about a month. He worked as an accountant for a firm with one owner and nine employees. Not only did he receive only five days of annual vacation after working there several years, he earned no sick leave. Ever. The company wasn't required to offer it. Typically, large corporations offer more time paid off than smaller firms as far as vacation, sick leave and holidays.

2. Insurance: For many employees, adequate health insurance is more important than income. Working for a large corporation typically affords you more choices as far as types of plans for example, HMO vs. PPO and has a lower employee share of the premium. Individuals or their dependents with expensive health conditions are less likely to be excluded from coverage. Health savings accounts (HSAs) are now common. Some large employers also make disability, life insurance and long-term care policies available, which is less common when you work for a small business.

3. Retirement: Sadly, defined benefit pension plans are becoming rare. However, you have a much better chance of snagging one with a large employer than with a small one. If the company offers a 401(k) to fund employees' retirement, plans offered by a large corporation are more likely to offer an employer match and more investment choices. Many small firms offer no retirement plans.

4. Career advancement: By sheer numbers alone, there are more jobs open at a big corporation than at its small cousin. Often employees are hired into slots that are part of career ladder featuring a planned progression of responsibility and compensation to retain good workers. Financial bonuses, in-house training and paid outside training are, overall, more plentiful with a larger employer. In some cases, an employee who performs well and who has a mentor can almost expect an automatic promotion if he or she finishes a particular academic degree or employment-related training program.

5. Career change: If you're burned out as the editor of a company publication and think you'd like to try your hand in marketing or sales, your only choice might be to change employers if you work for a small company. Not so with many large employers. It's sometimes possible to even plan the transition to another slot within the company so that there's overlap with your successor.

6. Other perks: They don't show up as a direct deposit, but they're much more prevalent at a large corporation than at a small business. Among the most popular are a charitable donation match from the employer, free or discounted gym membership, gratis tickets to cultural attractions, periodic awards such as employee of the month and company-wide freebies such as picnics and holiday dinners.

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