Product based companies compete on technology using engineering talent to win. They build once and sell to many with minimal difference While Service companies build a new one each time depending on customer. Here are a list of differences between them…
Service based companies
- They make software as per the requirement of client.
- Dynamic in nature
- Need to be a MultiTasker .
- Selection procedure: conducts simple interview rounds like 3 to 4 rounds and are mostly based on technology knowledge and coding for which they are hiring
- They will not provide justifications for rejection or selection.
- Learning: no learning in the projects. It will make you jack of all master of none.
- large team size leading to high politics high work pressure and job uncertainty
- Less salary then product based companies
- Very inflexible timings, you have to complete the fixed hours (8-9 hrs) in the office before leaving.
- TCS, Infosys ,Accenture, Cognizant etc. Are service based companies
- They train the candidates on the technology as per the requirement
- They are generally mass recruiters
Product based companies
- They have already made their product, just have to sell in market .
- Build one time and earn money from websites and much more
- Have their own development team
- Specific rules and Technology, need not to be multitasking but be good in a respective field.
- Selection procedure: conducts more interview rounds and are mostly based on data structure and algorithm analysis
- They will provide complete justification for rejection or selection with areas of improvement.
- Learning here is always good
- Teams are small so the interaction is very good, leading to less politics and job certainty is high
- They pay you high salary
- Flexible timings
- Google, Microsoft ,Adobe ,Oracle, Paytm, Zomato etc. Are product based companies.
- They do not provide extra training to candidates.
- If you are in a private college,you have to work hard to get into it.