Startups are the rave these days and college graduates get excited about working for them, enticed by the opportunity to join a workforce that is mostly youthful – their peers- and a more liberal work environment.
Startups have a reputation for a casual dress code, relaxed office environment and eccentric management styles and they can be alluring especially when you read the news of startups getting some huge funding every other week.
However, it is not all rosy as it is depicted to be. The reality of working for a startup is different from the life of free pizza and beers that many of us imagine when it comes to working for a startup. Oh yes, the freebies do come but so do a lot of uncertainty.
The interpretation of flexible working hours often mean extended working hours. Since most startups cannot afford to have a huge workforce, the employees usually have to put in extra effort and hours to beat deadlines and complete projects.
Whereas most big companies have a 40-hour work week, expect to put in anything above 50 hours when working for a startup. So maybe the free drinks are to keep you in the office longer.
The benefit of the long working hours is that you grow your skills tremendously over a short period of time.
Startups have a lower remuneration package than the industry rates due to cash flow constraints. You put in longer working hours for a lower pay – this is what sucks about working for a startup. You won’t have time for side hustle either to boost your earnings and maybe it’s time you learned How To Delete Uber Account because you are not going to get any time to moonlight as a taxi driver.
Startups make up for this through free lunches and equity offers which can make you weathy if the startup gets bought or goes public on the stock exchange. There will also be raises on the way as the financial situation of the company improves.
Depending on which study you read, between fifty to ninety percent of all startups fail. That tails you that chances of you ending up jobless are higher than that of you cashing in on your equity stake in the company.
If your company don’t get customers quick and fast or funding, you might have to take a pay cut on your already small salary or close shop altogether.
Sometimes an investor will come in and completely change the core business of the company and you have to re-adjust accordingly.
Prepared to be a jack of all trades when you join a startup. Your job description may define all you are expected to do as frontend developer but a time will come when you need to step in as customer service assistant or some other role that is beyond your normal duties.
This is necessitated by the small workforce that is characteristic of most startups.
You will benefit from the multiple roles and skills you will gain working for a startup might just be what you need propel your career to the next level.