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  • Engineer: Career Pathway Conundrum – job or business

    Discussion in 'The main mechanical design forum' started by Muhammad Farhan, Jun 16, 2017.

    1. Dear all,

      I am seeking some insights from professionals in any field to guide me and help me decide where to focus.

      I have done masters in aeronautical and mechanical engineering and I have 5 years of experience in the field of design and development. From an Australian point of view, I am an experienced mechanical design engineer/mechanical designer.

      I am very happy with working for somebody but I am always jotting down business ideas to the extent that I ended up spending quite a few dollars on setting up everything but then gave up due to large capital required at later stages. My ideas are not out of this world but they are quite competitive, however I don’t have the investment to invest in those ideas. Kickstarter and other crowd source funding schemes have prevented me from giving up on business altogether.

      Today, I am confused between job and business pathways and where I should put my razor-sharp focus to.

      Battle of pathways:
      Job
      1. Stable and consistent income
      2. Opportunities to increase that income by few hundreds of dollars every year or so
      3. Working hours are 9 – 5 generally
      4. Gain specific experience
      5. No financial investment required
      6. If I am made redundant, I can get another job and maybe jump to business
      7. Comparatively less stress, less overall management and easy work
      8. Guaranteed family time including paid holidays and sick leaves
      9. Company benefits if working for reputed firms
      10. Can be challenging and rewarding at times, depends on work type and firm, however in general it is doubtful
      11. It’s more like wordpress.com and wix type

      Business
      1. Variable income (very low in one month and very high in another)
      2. If the business picks up, could be financially independent in no time (no limits to how much you can make)
      3. No proper working hours, so really speaking working 24/7
      4. No limits to what knowledge and experience is required or could be gained
      5. Large investments are required to flourish the business
      6. If business crashes, I can go back into a different business but it would be close to impossible to be employed in a reputed firm (by into workforce)
      7. Comparatively large amounts of stress, high demands of organisation and management, overall hard work all year round
      8. Family will be compromised at some level even if we are very careful and on top of that no paid holidays or sick leaves
      9. Guaranteed that it will be challenging and rewarding
      10. It’s more like wordpress.org and coding your own website from scratch

      All feedback and suggestions are welcomed.

      Thank you,
      MF
       
    2.  

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