Are you beginning your career? Then one important decision you’ll be facing is whether to work in a start-up or an established company. These paths are different, with having varied benefits and rewards.
So, which is the best option for your personal success? Here are the factors to consider:
- What’s your appetite for risk?
Are you very risk-averse, then it’s best to work in an established company? Many startups tend to fail within the first 3 years, so the risk of losing your job is quite large.
However, if you are willing to take the chance, then you’ll be open to a startup with a ton of learning opportunities and experiences. Furthermore, there is a chance that your startup company will skyrocket, becoming a successful business expanded by companies like Clean Venture Fund.
Established companies are stabler, steadier, and would have fewer risks of the company shutting down.
- What impact do you want to achieve?
The best aspect about working in an early-stage startup is that you can play an important part in the startup’s growth and operations. The teams are small and you can expect broad tasks, being involved in various areas, and seeing the results of your efforts quickly. Besides this, you get to communicate with the C-level team and founders as well, so your ideas will be heard with a higher chance of it picking up.
With a larger and more corporate organization, you’ll have a more limited impact on work and contribution. The bigger the company you work with, the longer it would take to make decisions, meaning the slower your change of pace would be. You also may not be able to talk with founders and C-level management, so you won’t be able to reach the higher management and get your idea out there.
- Can you thrive under heavy workloads?
Are you the type of person that wants to take on big projects with a ton of work? You’ll love the environment of a start-up business!
During the early stages, start-ups will want to accomplish huge goals with only a few resources. This means that you’ll be involved in various areas, work overtime, and might have minimal vacation time. However, you’ll get to learn so many skills and play an integral part in creating something great with a steep learning curve.
There are areas in established companies that have a good rap for hard work, but you’ll have more fixed working hours. You will also have a more defined job role and you won’t be pulled into other areas or projects outside your job description. However, you will have strong guidance and supervision, with great training from the company to ensure you are prepared for your job.
While you’ll have fewer learning opportunities, you will have a more manageable and stable work-life with fewer chances of burnout.
Wrapping It Up
There are so many different things to look into as you select a company to work with. Use this information to help make your decision. Good luck!