The most difficult decisions are those that lead to life-changing paths, such as identifying the ideal company to work for. Because no one will ever feel the consequences of your failure, making the right decision is critical to gaining the necessary experience in one’s chosen area.
You should have a comprehensive grasp of the kind of work that both of these organizations do, what they seek for in applicants when employing them, and what the job security, market scope, and pay structures are like in product-based and service-based companies to form an opinion & decide which one to go for, something PrepBytes will help you with.
Service-based companies develop software or products only when a client reaches out to them and requests that it be produced specifically according to their needs and requirements. On the other hand, a product-based company already has a product that it sells to a large group of customers or clients. Examples of product-based companies include Google, Adobe Apple, Facebook, etc. And Oracle, TCS, Wipro are some examples of service-based companies.
In this article, we will throw some light on the interview processes of both types of companies. But first, let’s review the basic difference between the two.
|Product-based Company||Service-based Company|
|These are companies that produce and sell their own products.||Their primary business is offering services to other companies and clients.|
|They normally do not conduct campus placements in tier 3 colleges and hire just a small number of students from top colleges such as IITs and NITs.||They are known to be mass recruiters.|
|These offer high incomes and increments, as well as salary adjustments based on the cost of living.||These offer a lower income and raise in comparison.|
|These companies conduct more interview rounds, making it more difficult to crack interviews than Service-Based companies.||Cracking the interview is simple and contains a lesser number of rounds.|
|The learning curve is good, and efficient methods are employed. You’ll also have the opportunity to work with cutting-edge technology.||The learning curve is on par with the industry standard. Freshers are typically assigned to support projects, where they are unlikely to have the option of choosing their own domain.|
Interview Process At A Service-based Company
The interview process at a service-based company is simple with 3-4 rounds (2 technical, 1 behavioral/managerial, and the final HR session). They recruit individuals to work on a specific project. If you have any specialization or previous work experience in that field, you will have a better chance of being selected. If you are a fresher, a service-based organization may be advantageous because certain companies believe in delivering excellent training to their employees. Typically, your performance at the end of the training will determine what project you will be assigned.
People who perform well on training assessments may be offered opportunities to work on development or testing projects. Indian tech behemoths such as Infosys, TCS, and Cognizant invest heavily in training. So, if you want to learn while working, service-based companies will be a good fit.
Interview Process At A Product-based Company
The number of rounds in an interview at a product-based company may be greater than in a service-based organization. They concentrate mostly on data structure and algorithm analysis. They mostly require a candidate with extensive experience in these disciplines because they want them to be able to complete the work with limited training. The rounds may look like this:
Resume Shortlisting- A resume is critical in securing an interview call. Because so many individuals apply for the same job, you need something unique in your CV to make you stand out. It might be your prior projects, prior experience, or a good competitive coding platform ranking.
Coding Round- Basic aptitude, technical concepts, and coding questions are all included in this round. This round may or may not exist in an experienced professional’s interview process.
Technical Rounds- Prepare for questions about data structures and algorithms, everything that’s mentioned in your resume, and some basic technical topics.
System design Round- Questions on the OOPs concept and system design will be asked during the design round.
Behavioral/HR Round- Extensive discussion of projects, theoretical technical topics, and your strengths and weaknesses.
Product-based VS Service-based: A Comparison
Let’s have a look at some of the parameters to draw a comparison between a product-based and service-based company.
Product-based- Job security is often greater in product-based organizations than in service-based companies. Employees in service-based companies are under more strain due to strict deadlines and targets to achieve. Lately, it has been noticed that service companies are hiring in huge numbers these days and that most of the employed applicants are benched for several months following the training period.
Service-based- This is one of the reasons why job security is lower in service-based businesses, and part-time jobs are rare, whereas product-based companies frequently provide part-time jobs and internships. All of this, however, is highly subjective, and results may vary from company to company.
Product-based- Because of the limited number of employees, there is more interaction and cooperation between team members. And the company with fewer employees is less concerned with politics and favoritism. But, certainly, the work is apparent and arduous here.
Service-based- The work environment is ideal for someone who believes in working according to a schedule. You will be praised for your contributions to the team rather than for your solo efforts. Even though the work here is only support and maintenance, there is still a great deal of pressure. In the end, it all comes down to the project you’re working on. Service-based businesses also offer excellent development programs that provide opportunities for both learning and growth.
Product-based- When compared to service-based companies, the pay structure in a product-based company is better. Because you get compensated for the time and effort you invest into the job. When it comes to appraisal, these organizations are very open about it, which implies that it is only based on your performance. During the evaluation cycle, there is a good chance of earning a double-digit raise.
Service-based- It’s quite standard. Bonuses for appraisals and performance are uncommon. Top achievers, on the other hand, are consistently given high evaluations and praise. You must be the best player on your squad. And this is something that both service and product businesses face. In both cases, hard work pays off.
Crack Interviews With PrepBytes Placement Programs
Zenith Placement Program is crafted to get you placed in companies like Microsoft, Amazon, Google, Facebook, DirectI. You will have an expert mentor from one of these companies to help you devise a plan and solve your queries. Mastering DS/Algo, problem-solving along with strong knowledge of required computer science subjects is a key to get placed in these companies, and in this program, you will get proficient in all of these.
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Crest Placement Program is ideal if you want to master the most in-demand skills for a job. This program helps you get placed in companies like TCS, Infosys, Wipro, IBM, etc by laying more emphasis on the required modules like Aptitude, Soft Skills, Basic coding, and many more under mentorship and guidance of experts from the IT industry.
To Sum Up…
In the end, it’s all about your dream job and the measures you take to land it. With enough practice and well-structured PrepBytes Placement Programs, you increase your chances of cracking an interview in your dream company, be it product-based or service-based.