Sometimes It Makes Perfect Sense To Work At A Struggling Company

Is working at a troubled company advisable? Troubled meaning heading into bankruptcy, having a deserved bad reputation, struggling to survive, or going through a turnaround. The answer: it all depends.

If you want something safe and secure, it’s probably best to avoid it. On the other hand, if you have a high tolerance for risk, can deal with ambiguity, and want to jumpstart or accelerate your career growth, it might be the perfect choice.

I’ve been thinking about this issue for many years. It started about 40 years ago when I first became a manager. I was with Rockwell Automotive in Troy, Michigan (Manager of Capital Budgeting), and my boss, Chuck Jacob, the Controller, and I were interviewing MBA students for financial analyst positions. We were going head-to-head with IBM, Ford, and P&G – the “hot” companies of the day.