Pros and cons of working at a startup

By Stuti Saria and Raj Sheth

A start-up is a young company founded by one or more entrepreneurs to develop a unique product or service and bring it to market. The number of startups has increased drastically over the past decade and have become popular employers. However, working for a startup can be very different from working for a big company and it is important to understand those differences in order to make an informed decision on whether it is the right fit for you. Here are some pros and cons to consider -

Pros:

1. Opportunity to grow

 There is no typical hierarchical structure in a startup. you can grow in position if you show effort, passion and results. you can keep close contact with higher authorities and learn more from them as well as progress yourself. 

2. Impact made by one person can leave a mark

Typically, the number of employees at startups is lower relative to bigger companies.   This gives each person an opportunity to have their work make a big difference. Working well at a startup can give good credit. 

3. A lot of new things to learn

At a startup, there will be no specific department to work at. There will be exposure to many fields. you could be managing outsourcing as well as marketing. This gives you a great opportunity to learn about diverse areas and explore different career paths. 

4. Flexibility and freedom

A new company doesn’t have extremely rigid work hours, so work can be done throughout the day during your free time. A better approach and qualitative effort will go a longer way than just many work hours. you could also be working in multiple areas, which lets you expand your skills. 

5. Cooler, newer environment

To keep up with the modern-day trendy offices, the work environment at a new startup can help optimize work and create a fun environment. Since there is a smaller workforce, there can be a stronger bond between the employees. This in turn creates better teamwork and work energy.

Cons: 

1. Risky job

Working at a startup is a risk as the success of a startup is never guaranteed. The company is new and vulnerable. If the company does fail, then your employment status could change, and you might find yourself out of work.

2. Huge responsibility

Since there is a smaller workforce, each employee is given a considerably larger responsibility and a lapse in concentration, or a mistake can cost the company highly. A great deal of hard work is required in order to work for a startup.

3. Lower salary

A startup is new, and funding can be tight. Since there is a crunch on funds, salaries might not be very high. Perks may be limited and appraisals may not happen in a structured manner. 

4. Unstructured

Working at a startup can put you in a position where you have to work in several different departments. There may be no structured work of the sort and every day can pose a new challenge. Hence, specializing in a particular field is likely to be difficult.