You will be given just a company name

It is like hacking with the knowledge of an outside attacker

There is no need of any prior knowledge of the system

It is time consuming

You will be given complete knowledge of the infrastructure that needs to be tested

This is like working as a malicious employee who has ample knowledge of the company's infrastructure

You will be provided information on the company's infrastructure, network type, company's policies, do's and don'ts, the IP address, and the IPS/IDS firewall

The tester usually has limited information on the target network/system that is provided by the client to lower costs and decrease trial and error on the part of the pentester

It performs the security assessment and testing internally