There is this common confusion among youngsters, between a start-up and established company job offer. Which company to join and which is the best? What are the risks and benefits of working with a particular company?
Actually, it all depends on you, as both the companies offer various venues to prove your potential but based on your financial status, type of job offered, aims and objectives in life you have to decide it. But you should consider certain factors such as package being offered, projects going to work on, flexibility to learn, the company’s reputation in the market and other factors those are mentioned below…
Benefits In Working With Start-Ups
- Gives opportunity to experiment.
- You can understand the whole work system and hurdles in delivering a product or service.
- You work on several domains on several roles, hence you become a jack of all trades.
- Learning is best here.
- You may have to work for extra hours.
- May offer less package.
- You can be part of the company’s growth and you’ll grow along with the company changing your designations faster. If the company succeeds, you’ll get some very important role to play.
- You can wear any dress at the office, work from any place, that doesn’t matter.
- This is a risk with later benefits.
- Great place for those who hate hierarchical leadership.
- Your performance can make or break the company’s success.
- You discuss & join all sorts of meetings and strategies.
- It is a great place for creativity, innovation, and rewards.
Risks With Start-ups
- Salaries will be less and sometimes skipped.
- Other benefits are limited until the company moves on to profits and more employees are into the company.
- Less tolerance to failure.
- Work Life will be tenuous.
- You may be sidetracked with additional responsibilities.
- If start-ups do not do well, you might lose your job, because 3 out of 4 start-ups fail to succeed.
Benefits Of Working With Established Companies
- You’ll get a secured life.
- You’ll get specialized in particular work/designation.
- You’ll get a greater sense of working in a team and leading a team.
- Salary and other corporate benefits will be very good.
- Working time slots will be fixed on any given day.
- May offer incentives/hikes/appraisals for every 6 months.
- Will bring more job offers from similar companies.
- Work experience adds value to your CV.
- Can enjoy corporate culture, with the professional look of having daily formals, clean-shaven face and suits & boots, cafeteria, cab, etc benefits.
- Least job risks. Losing a job doesn’t happen so easily, there will be 6 months of probation with a notice period.
- Fixed leave system, with additional benefits such as sick leave, 40 hr work week, PF, travel allowance, DA, House Allowance, Health Insurance, Food Coupons, Outing, and various other benefits & celebrations.
Risks With Established Companies
- Learning is limited.
- Monotonous work.
- You cannot get into other roles.
- It has the least growth in the long term as a person.
- Takes lots of time to recognize your performance.
- Too many people to rule you and evaluate you.
Therefore, check the reality of your job offer to that of a start-up and you’ll have to think over all the above factors. You’ll have a unique experience with a start-up at the initial stages of your career but they are not for everyone. There are certain hiring websites for you to help such as Startuphire, Angle list, Jobspire.
Similarly, jobs in established companies give more job security, and tension free workplace, but they have their own limitations. So, it is always you who has to decide based on your economic status, mentality, work nature and the kind of job offer considering all the above factors.
- E. Hemachandra Prasad