Working at a startup is overrated, both financially and emotionally
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Re: Working at a startup is overrated, both financially and emotionally
#2It's important for anyone joining a startup to understand that the odds of success are overwhelmingly against you.
For every successful startup we see on here and elsewhere, there are thousands that fail in obscurity, sometimes leaving people in ruins.
Treat options/shares as a literal lottery. Assume your odds of winning are zero when making life choices. Also unless you're a very very early employee, those options/shares are likely to not be worth what you imagine they will be worth even if the company has a successful exit.
Go into it with eyes open and realistic expectations if you choose to try it out.
Re: Working at a startup is overrated, both financially and emotionally
#3My expectation is that the total compensation i receive from any employer is limited to salary per paycheck, health benefits, maybe retirement matching, and that is it, startup or no.
Re: Working at a startup is overrated, both financially and emotionally
#4As much as I agree with everything said in this article I wouldn't trade my years at a start up for anything. Both financially and emotionally it was awesome. I didn't get rich, and I worked way too much, but it was awesome. I loved the constant change and chaos. I learned so much, way more than I would've in any other type or work place. I made great friends too. It was as bad as the article, but it was way waaaay better too.
Re: Working at a startup is overrated, both financially and emotionally
#5My expectation is that the total compensation i receive from any employer is limited to salary per paycheck, health benefits, maybe retirement matching, and that is it, startup or no.
And RSUs. I love me some RSUs.
Re: Working at a startup is overrated, both financially and emotionally
#6It also makes a huge difference if the startup is your primary source of income or not. My wife worked for several startups, all of which failed. But since I had a more stable paycheck, it wasn't so bad, and we just treated the extra startup income as a bonus, and had very low expectations on cashing in on the equity.
Re: Working at a startup is overrated, both financially and emotionally
#7It's important for anyone joining a startup to understand that the odds of success are overwhelmingly against you. For every successful startup we see on here and elsewhere, there are thousands that fail in obscurity, sometimes leaving people in ruins. Treat options/shares as a literal lottery. Assume your odds of winning are zero when making life choices. Also unless you're a very very early employee, those options/…
I remember my CEO laughing at me buying my options when they vested. "Well Swader, you'll be able to wipe your as with those at least". Was a great guy, great company and a great bunch of people to work with. But facts are facts. We were successful but in a very competitive field so nothing was guaranteed.
Re: Working at a startup is overrated, both financially and emotionally
#8On the other hand i think working corporate jobs is also still way overrated (even if it is maybe already rated low). Whenever I think this will be different i want to shoot myself after 1 or 2 months latest, working for a startup just is the lesser evil.
Re: Working at a startup is overrated, both financially and emotionally
#9It also makes a huge difference if the startup is your primary source of income or not. My wife worked for several startups, all of which failed. But since I had a more stable paycheck, it wasn't so bad, and we just treated the extra startup income as a bonus, and had very low expectations on cashing in on the equity.
though at that point it sounds no different than a hobby, really.
Re: Working at a startup is overrated, both financially and emotionally
#10It also makes a huge difference if the startup is your primary source of income or not. My wife worked for several startups, all of which failed. But since I had a more stable paycheck, it wasn't so bad, and we just treated the extra startup income as a bonus, and had very low expectations on cashing in on the equity.
though at that point it sounds no different than a hobby, really.
This is the promise of UBI. Everyone can work on their hobby.