Lately I’ve been thinking whether it’s a good idea to move to a startup. I recently wanted to apply for one because they offered good working conditions, but still, maybe that would be a big change?
It seems like a good option in the short term, but I always try think long term. Does anyone have any experience making such a transition?
With the recession coming and inflation on the rise, if your salary isn't exceeding the inflation level - at least leave for a stable company that is. Don't just stay put. You're missing the opportunity for growth and financial gain.
With recession looming around .. stay put in current company
I came from a startup to Met. I definitely miss the pay and benefits. I don't miss the long hours and the sometimes bordering on cult messaging that would come from the top down. I get very frustrated with the incompetence at Met but I also have no issue logging off early for my kids' soccer games so you gotta weigh the trade offs.
@1aun+1gugwOsX - Agree with most, except pay as in salary is typically NOT multiples higher. Pay as in Stock Options is, but the options only pay-off if the startup makes it.
High risk & High potential reward.
Having worked for MetLife, start ups, and FAANG - it is a big change. It can be difficult to get in, and once there, the pace and expectations can be overwhelming. Startups have higher expectations of ownership of not just your skills and time but of the product they sell. This can be difficult for people who are there just work and go home. Imposter syndrome and burnout are common. Most true startups fail.
On the flip side, pay is multiples higher. For those that welcome it, the action of ownership creates increased satisfaction (it's much more tangible how your work impacts the customer, the company bottom line, and your paycheck).
The technology, processes, products being developed are more modern. Your level in working with them deeper. Your opportunity to impact change as a percentage of the company is much higher. These are very good for your long term career growth and opportunities.
So when you think of moving to a startup- recognize that the long term view might be what it does for your career. It may add skills, open opportunities, or teach you something about yourself that you may not learn otherwise. The worst long term view might be failing to explore opportunities where you might thrive.
Start up: High risk; long hours; sometimes high reward.
I don't see many people that are comfortable working for an insurance company jumping to a startup. But, it might work for you.
There's no shame in trying something new. Yes, there is uncertainty, however that exists everywhere these days. Every company started out small. Not to get all buzz wordy on you, congrats for stepping out of your comfort zone and good luck!
Same boat here, but very concerned about the fate of smaller companies right now. Netflix and Amazon recently getting ki---d with bad earnings, might be a big shakeout coming for smaller companies.