Should Millenials Work in Start-Ups?

With the advent of rising Internet services designed to address every single need of users, Startup companies have become prevalent all over the job market. More and more have appeared as Entrepreneurs aim to bring fresh and innovative ideas to hopefully produce that breakthrough product. Professionals seeking a creative work environment also see Startups as the next progressive step in their careers.

Interestingly, large companies like Google and Facebook are also seeing their employees leaving to join the Startup universe. This isn’t surprising as Startups have truly appealing facets: a dynamic work place and flexible schedules among others. Indeed, these are the numerous reasons that provide a favourable change from working in a large corporation.

But there are also some Cons that many should note, if they choose to take the Startup route…

But first, the Pros:

1. Innovation. Startups are the epitome of creativity, attributed to most Startup founders really needing to be highly driven and innovative. They have to, because their companies require the most impactful ideas to succeed.
2. Flexibility. Startups are the very definition of a flexible work environment, as many allow employees to work from home. Even in the office, there are basically no fixed rules on where the employees can simply bring a laptop to for work. On the other hand, large corporations are eliminating work-at-home positions to protect their employees from negative conflicts with personal commitments. With a Startup there is an attractive balance of both.
3. Diverse work. No 9-to-5 work hour arrangement dominates a Startup job. In addition, your daily work tasks differ greatly (or at least be more of a variety than in a regular job) day to day. This is largely because of a typically small number of employees in a Startup leading to each one having to pick up more functions along the way.
4. Project ownership. In a Startup, you own your functions. Startup managers often depend heavily on the talents of each employee and delegate responsibilities based on them. There is always that sense of empowerment in the ownership of projects.
5. Exponential room for growth. A Startup is a Startup, with more ‘beginnings’ than a corporation. That, however, changes when a Startup is eventually acquired. That’s one of the main reasons why founders often point their talent towards prized opportunities for career advancement. In the Startup ‘journey’, they would have gotten invaluable experience and skills for the next phase ahead.

Now, the Cons:

1. Financial hits. No Startup can pay as much as a Corporation can, at the beginning, to individuals with degree qualifications. You would surely see far more remuneration being given in a corporation, especially if you hold a doctorate. Riding on nothing more than an idea sometimes, a Startup is clearly geared towards individuals willing to take a risk for higher rewards.
2. Enormous effort required. Expect to work substantially harder than professionals working across the same amount of time. You will most likely require to hold many functions given the lack of comprehensive (read: fully staffed) manpower in a Startup. With a high margin for failure, an additional factor of stress could differentiate the ‘winners’ from the ‘losers’.
3. Hinges on good (or bad) leadership. Your Startup managers make or break the company. Even small mistakes such as mismanagement of funds, talents, efforts and time could mean productivity wastage for you and you colleagues. This could lead to unnecessary stress which could be detrimental to your work-life balance.

Startups are increasingly desired companies to work for, but you need to weigh these Pros and Cons carefully before taking the plunge.

All in all, if you are a professional seeking more responsibilities, work-life balance, a dynamic work environment and an ultimately more rewarding pay-off, a Startup may just be the right next step for you.

About the Author

Jeremy is a resident Writer at ShopBack.ph. He has been studying financial trends and writing about them for the better part of the 2000s. Now, he studies and debunks many of the myths and misconceptions surrounding Startup companies.