For the job seeker, it is very much a race to become employed by one of the ranked companies. Landing a job with a name-brand company does have its advantages.
Compensation tends to be more competitive.
Benefit and bonus packages can be more attractive. Career paths are more sharply defined and it does not hurt to list a Fortune 500 company on a resume. Yet finding a job with a Fortune 500 company can require much more job seeking expertise. The Fortune 500 are the big leagues of the job hunt. The college graduate or individual seeking to make a jump to a Fortune 500 company would be advised do some research and polish every aspect of their job seeking skills in preparation.