Getting graduated and looking out for a job is definitely an exciting time. But it can be equally stressful as it is important to find a suitable job that will lay a foundation for your future. There are several things that come into play while hunting for a job, which include job security, salary, benefits, work-life balance, etc. Strong leadership and career growth should also be priorities.
Given these factors, it could be exasperating for fresh grads to decide if they should work with a well-established firm or a startup. If you’ve got a job offer from a startup, here is a guide detailing on the pros and cons of working with a startup.
Here’s why working with a startup is beneficial
Mission-driven approach: Most startups are launched with a mission to improve and resolve an issue, which is not revenue-centric. This way, these firms will not only operate for the sake of making profit but also to solve problems and make this world a better place to live in.
Employee impact is rewarded: In large and well-established firms, you will be considered an employee among others. But this is not the case with startups as you will be the only person or one of the few employees doing the job. Startups will measure your progress and reward you for every positive impact that you make. Eventually, it is impossible for a colleague to take the credits for what you did.
Creative working environment: Unlike traditional offices, startups usually focus on creative working environments. These will be set up at trendy workspaces with game rooms, hoodies, skateboarding, etc. Startups will have more relaxed dress code and conditions and interactions with coworkers will be encouraged as there are only a few of them.
Startups will be liberal: Startup work culture will offer enough freedom and flexibility. Though this does not mean that you can deliver your work as and when you need, it lets you do your job and meet deadlines in a casual work environment. It is important to get your job done but they will not be serious about when and how it is done.
You’ll have more responsibility: When you work with a smaller team, you will have to be more responsible. As you might be the only with a specific skillset, you need to handle the whole task all alone. You will be involved in making decisions. This is something that the employees working with larger organisations do not get to experience.
There will be a lot to learn: Spanning into a new territory after graduation means no corporate training. You can learn as you go and work closely with highly talented entrepreneurs and colleagues. The advantage is that most such entrepreneurs will have creative and original ideas and you should be open to learn a lot from them.
Why working with startups isn’t a good decision
It is risky: Startups are unstable and a majority of them fail over the course of time. Even if it is not dissolved, you might end up getting a change in your employment status and there could be suspended pay due to gaps in funding.
Work-life balance might not be possible: A startup is a new business built fro the scratch with dedication and passion. So, when you work with a startup, it demands you to work for long hours including weekends, holidays and evenings. It is important to push work timings to build a customer base and accomplish several tasks.
Relatively lower pay and benefits: A startup will not enough funds as a huge company and will have to secure funding for various activities. This means that you may get a relatively lower salary and fewer benefits. It is acceptable as startups cannot generate offer the same extensive benefits as the larger organisations.
Lack of proper structure: As startups are not rich in funds, there will be fewer employees resulting in a lack of proper structure. This can result in disorganisation, missed timelines and dynamic strategy.
How to make a decision?
Having detailed the pros and cons of working with a startup, it depends on the working style, work-life balance and lack of proper structure. You should analyse these factors and come to a conclusion if these will inspire or hinder you. It is important to consider your personal situation and if you will be able to manage with a lower pay to handle your commitments. If you can resist the instable working conditions, then you can choose to opt for a startup and grow along with the company.
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