According to USA Today, recent college graduates have an unemployment rate in the double digits. In such a tough economy, should you consider applying your job search toward startup businesses instead of large corporations? Before you make any decisions, you should weigh the risks and rewards of trusting your career to a startup.
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Risk: You will be underpaid. Most startups are underfunded, so when you apply to these businesses, expect to be paid with company stock and a salary that is lower than competitors' offerings. Sometimes, you may not be paid on time, and sometimes your hours will be cut on paper even though you may work well over 40 hours a week.
Reward: You may have a huge financial gain. Imagine joining Mark Zuckerberg's startup and being paid with a low salary and some Facebook stock. If the startup is successful, you could reap some significant financial rewards. Even entry-level employees can strike it rich with the right startup
Risk: You will work long hours. Startups don't have the luxury of considering your work-life balance. With few employees and little money for more, the workload can be serious. You will probably work nights and weekends, especially if a client expects a product soon. This extra time will probably not be "on the clock," however. Working these hours is expected so that the startup can meet its obligations, grow, and become a thriving business. When that happens, you and your fellow team members will all benefit.
Reward: You will have diversified, quantifiable experience for your resume. Most startups have very loose position descriptions. With few employees and an evolving business plan, "other duties as assigned" can be the norm rather than the exception. Keep track of your morphing skill-set, and you could build a resume that rocks.
Risk: Your job may not last a year. The vast majority of startups aren't in business longer than a year. The best way to make sure you don't end up out of a job is to view the startup with a critical eye before you apply. Does the startup have a unique business proposition and decent capital? If so, then it may be worth the gamble.
Reward: You will have an enviable network. Whereas established companies have a clearly defined customer base, startups are always looking for new clients as well as new vendors. You can't help but meet a lot of people when you work for a startup -- even if you aren't in sales. Most of all, your colleagues at the startup will become a tight group of co-workers. After all, you all believe in the same dream, you are all working the same long hours, and you are all being paid the same low salaries to make that dream come true. Even if the dream doesn't become reality, your network will remain solid.
Working for a startup may not be for everyone, but it may be right for you. If your resume could use a little boost and you are willing to take a few risks, then you might experience some amazing rewards. Just make sure you assess the startup's business plan before you apply.
Article Source: http://EzineArticles.com/?expert=Raphael_Huppe
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