Joining a new, cutting-edge company, spending your work days in jeans with an office full of cool people, and using your creative vibes to create fresh ideas may sound like a dream come true, right? Maybe. If you’re a job seeker looking to work at a startup, several factors must be considered. Here are 4 pros and cons of living the life:
No job description: The famous phrase “other duties as required” becomes the norm. You may have to fill in for others when they are gone and perform duties that are not even close to your normal responsibilities. You may be called upon to wear many hats and do a good deal of work independently. This can be very frustrating and nerve-wracking, but it can also make your job extraordinarily exciting.
Independence and creativity: Startup companies provide employees with the chance to use their skills and creativity to help build exciting, new businesses. In a business so young, management often works closely with employees, relying on them for ideas and help with meeting the company’s goals. While many people enjoy the creativity and freedoms a startup affords, those who need more structure and direction may consider them drawbacks.
Pay and benefits: Sometimes a startup can afford to pay competitive salaries and benefits. However, many startups struggle with finances, with tight budgets as they build their brands. Some might even ask you to work without pay for a time. Since startups often face more risk of financial troubles, they may also lay off employees or go out of business more often.
Rewards and incentives: Getting in with a startup during its infant stages might translate into awesome financial rewards. As the company grows, you might receive stock options, bonuses and other incentives intended to reward you for being there from the beginning. However, startups frequently take major short-term risks in order to realize large long-term financial gains.
What are some other perks and downfalls of working for a startup? #SoundOff and follow Jamie on Twitter @JayNHarrison.