Working in a family owned business
Discussion
I've been working for a family owned business through the summer (<40 employees, turnover of £5million). My current duties are to assist with the Sales & Marketing program (they have a consultant leading this at the moment) and various other business development projects on areas I see that need improvement.
The feedback I've been getting from the permanent employees, the consultant and the directors is that the work I'm contributing is very worthwhile and value adding. I've also been brought in to work on some of the Director's own projects. There has been some mention of part time work after next month when I'm back at uni, and I'm confident that it will lead to a permanent offer next year.
I should come out of uni next year with a 1st or 2:1 in International Business and believe that I have the ability to get a good graduate position (average 1st year earnings £18,000 + ongoing training, etc.)
So my question is how much could I reasonably expect to be offered/negotiate to in small business?
Is it possible/likely that a contract could specify ongoing study such as a Masters or an MBA after 3 years of experience if there's no ongoing study/development for current staff?
Are there any professional bodies for Business Development/Project Management that could offer study to accreditation?
If I have a minimum starting salary expectation of £18,000 should I be upfront and unmovable or start at £20-22k and be negotiated down? (As a note, I think the office based sales staff are on £16-20k and the field based sales manager is £22-26k)
I'm enjoying working there at the moment and would seriously consider a full time contract next year, but I wouldn't like to lose some future opportunities from a lack of ongoing development.
The feedback I've been getting from the permanent employees, the consultant and the directors is that the work I'm contributing is very worthwhile and value adding. I've also been brought in to work on some of the Director's own projects. There has been some mention of part time work after next month when I'm back at uni, and I'm confident that it will lead to a permanent offer next year.
I should come out of uni next year with a 1st or 2:1 in International Business and believe that I have the ability to get a good graduate position (average 1st year earnings £18,000 + ongoing training, etc.)
So my question is how much could I reasonably expect to be offered/negotiate to in small business?
Is it possible/likely that a contract could specify ongoing study such as a Masters or an MBA after 3 years of experience if there's no ongoing study/development for current staff?
Are there any professional bodies for Business Development/Project Management that could offer study to accreditation?
If I have a minimum starting salary expectation of £18,000 should I be upfront and unmovable or start at £20-22k and be negotiated down? (As a note, I think the office based sales staff are on £16-20k and the field based sales manager is £22-26k)
I'm enjoying working there at the moment and would seriously consider a full time contract next year, but I wouldn't like to lose some future opportunities from a lack of ongoing development.
Edited by Stevenj214 on Saturday 23 August 14:43
family owned businesses are strange entities.
Is it also family run?
I work for a family owned and run company, in fact it is my family that owns and runs it, but it was never a given that I would be automatically promoted ahead of everyone. I have always had to work 120%, extra hours, always my own choice as I am aware that people will expect me to have an easy ride, but I want people to see that I actually put in the hours, do the work etc to justify where I am.
We are about 20 employees, about £6m p.a. turnover.
We have never had a marketing department (until I came along - and even that it is shared with other responsibilities), so it is difficult. If you can negogiate a salary, with training involved for a MBA then fantastic, but expect them to tie you down for a long contract as they will want to get back their investment. The question you have to ask is how far can you see yourself going in the company. Smaller, especially family owned companies, can offer limited promotion opportunities because of their very nature.
Working in family run companies can be great and exasperating, but seeing as you have had experience already, then it gives you a fair idea of what it is like.
Sorry for the rambling, and I haven't probably been much help, so sorry!
Is it also family run?
I work for a family owned and run company, in fact it is my family that owns and runs it, but it was never a given that I would be automatically promoted ahead of everyone. I have always had to work 120%, extra hours, always my own choice as I am aware that people will expect me to have an easy ride, but I want people to see that I actually put in the hours, do the work etc to justify where I am.
We are about 20 employees, about £6m p.a. turnover.
We have never had a marketing department (until I came along - and even that it is shared with other responsibilities), so it is difficult. If you can negogiate a salary, with training involved for a MBA then fantastic, but expect them to tie you down for a long contract as they will want to get back their investment. The question you have to ask is how far can you see yourself going in the company. Smaller, especially family owned companies, can offer limited promotion opportunities because of their very nature.
Working in family run companies can be great and exasperating, but seeing as you have had experience already, then it gives you a fair idea of what it is like.
Sorry for the rambling, and I haven't probably been much help, so sorry!
Thanks, it's helped.
The company is also family run by brother and sister (their father founded it). The rest of the family don't seem to be interested in the business at all, so it seems at one point that new people will have to be brought in at a senior level as a lot of the direction and drive comes from one of the directors.
The Sales Manager isn't getting any younger and I think i've shown the potential to eventually achieve senior manager status.
As with your company, there is no specific marketing department and not much effort spent on business development.
For development, I've been looking at the Chartered Institute of Marketing and the Chartered Management Institute. Does anyone have any experience or qualifications from these bodies? Would it be better to focus on one or both? There is also Continuing Professional Development courses offered by several local Universities and the option of a distance learning MSc.
The company is also family run by brother and sister (their father founded it). The rest of the family don't seem to be interested in the business at all, so it seems at one point that new people will have to be brought in at a senior level as a lot of the direction and drive comes from one of the directors.
The Sales Manager isn't getting any younger and I think i've shown the potential to eventually achieve senior manager status.
As with your company, there is no specific marketing department and not much effort spent on business development.
For development, I've been looking at the Chartered Institute of Marketing and the Chartered Management Institute. Does anyone have any experience or qualifications from these bodies? Would it be better to focus on one or both? There is also Continuing Professional Development courses offered by several local Universities and the option of a distance learning MSc.
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