It’s a whole new ball game altogether.
Working at a startup can be a life-changing experience. It presents a different set of challenges for you to gain valuable experience, along with new skills to add onto your resume. In an unorthodox work environment, you might have beanbags, table tennis, gaming consoles and a pool table all in your startup office. Your coworkers might dress like they’re headed for a day at the beach.
However, don’t be fooled by appearances. While it’s true that you’ll see something along the lines of “casual and fun work environment” on your job description, it’s not all fun and games and skateboarding in the hallways.
Here are some things that are not often talked about when it comes to working for a startup.
Work-life Balance?
Or rather, the lack of it. Startups are filled with people dedicated to the success of the company’s product or services. Unfortunately, this usually translates to long or odd working hours, vastly different from a traditional work environment.
Chances are, you won’t be coming in at 9 am and knocking off at 6 pm. Be prepared if you’re thinking of making the move to a startup company – working 15-hour days for months on end is not unheard of. Lines between weekdays and weekends will also start to blur.
The popular culture and general media have created the impression that people in a startup brainstorm over a game of pool at weekly happy hours. It sounds like they’re striking a good work-life balance, right?
But don’t forget there are two sides to every coin. The other truth is that startups require from their employees a level of dedication not seen in large companies and corporations. So if you are not a go-getter that’s willing to go the extra mile, or not someone that’s willing to eat your lunch at your desk (and possibly dinner too), a startup environment might not be for you.
Change Is The Only Constant
Search somewhere else if you’re looking for stability. To work in a startup, you need to put yourself out of your comfort zone and be comfortable with change (we’re talking really, really comfortable).
On all ends, things change very quickly in a startup. Without the well-defined structure of an established company, strategies, work processes and project plans can change at any time based on new information and ideas. A personal friend who worked for a startup company shifted offices four (yes, four) times in just a year.
And it’s not just work structures we’re talking about.
The hiring process moves quickly too without any HR red tape. Don’t be surprised if you’re offered the job on the spot at your first interview. There are also no corporate ladders to climb, as it’s much easier to be promoted with less people in a startup. However, the turnover rate moves just as quickly. Startups might be quick to hire, but they are just as quick to fire. Those who are not willing to be flexible or lacking in dedication will find themselves on the chopping board (see point one).
Taking into consideration that over 90% of startups fail within the first three years, there is simply no assurance that you will hold the same job a few years down the road. But if you are looking for growth and willing to embrace the chaos and constant change, startups offer a dynamic and fast-paced environment, great for personal and professional development.
All Hands On Deck
Manpower in a startup is often limited, and you will see yourself holding different sets of responsibilities as the company progresses.
Technically you may have a job title and description, but your day-to-day activities might differ depending on the project at hand. Don’t be surprised if you have to open envelopes, call for lunch catering, respond to enquiries and present a proposal to your board of directors all within a day.
The words, “this is not a part of my job” should never cross your mind. If you’re willing to wear a number of hats and learn things within a moment’s notice, working for startups is a great way to gain a number of skills under your belt.
Since the entire culture of startup businesses is built around fast success and fast growth, you will also pick up new skills quickly. Your time in a startup will see you progressing many times faster than in a corporate company. And even if things don’t work out, you will leave with a well-rounded resume.
Salary And Staff Benefits
For the amount of workload you’ll take on, don’t expect to be paid generously. Startups are usually either working on getting funding, or pumping funds into product development, operation costs and growing the customer base. In short, money is tight. And in most cases, the salary offered at a startup is less than what you would receive at an established company. Don’t expect startups to match the pay that you previously received at a MNC.
Feeling under the weather or had a late night out? It might also not be as easy to check out for the day. If you’re in a larger company, there are other people to take up the slack if someone takes a sick leave or goes on holiday. But at a startup where the manpower is limited, the impact of one person going on leave will be felt much more dramatically.
Although there are a number of downsides when it comes to salary and staff benefits, startups usually offer intangible benefits to make up for it. For one, they offer the satisfaction of building something from the ground up. In a larger company you might have many people working with you on a single project, but in a startup it’s likely that you will headline a project all by yourself. For individuals that are creative and entrepreneurial, there is plenty of room for freedom and expression, and not a lot for rules and restrictions.
Job satisfaction and getting paid in experience might be abstract perks. But other benefits may also include the option of working from home, flexible working hours, free lunches and weekly happy hours. Many startups also offer employees a piece of equity and stock options early on, which will see you reaping a part of the success if the company takes off.
It All Boils Down To What You Are Looking For.
With all that said, working in a startup is not for everyone. In order to decide if you should make the leap, it is crucial to evaluate your personal career path, where you see yourself going in the future and what you want out of a company.
Every cloud has a silver lining. Despite the downsides and the underlying risk that the company could either bear fruit or crash and burn, your time in a startup will provide you with an experience that you cannot get out of a large company.
If what you’re looking for is security and stability, you’re probably better off looking for a place in a seasoned company. But if you work well under pressure and want to feel like you’re playing a crucial role in building something from the bottom up, a startup might just be the place for you.
