According to a recent article in Forbes, over $50 billion was invested in start-ups by U.S. venture capitalists in 2014. The article goes on to outline how established businesses are trying to out-innovate start-ups. These include spending huge sums on R&D, acquiring start-ups and running incubators.
It is clear that innovation and adaptability are highly prized in modern business. Those that get it right can go from one man in a garage to fortune 500 in a couple of years and those who get it wrong can very quickly find themselves disappearing into the ether. With start-ups and established companies looking to IT, technology and telecommunications professionals to help innovate and drive their organisations forward, we look at what these two very different worlds have to offer employees:
- Can result in a great return (in terms of salary, shares and job growth) if you get in early and grow with the company.
- Roles are wide ranging and varied allowing you to pick up new skills and experience that will look great on your CV in the future.
- Greater autonomy and the ability to mould the role to suit your skills.
- Informal atmosphere.
- Creativity and innovation is encouraged.
- No job description and ill-defined roles could lead to confusion about what is expected of you.
- Low salary with few benefits (at the beginning at least).
- Limited resources and budget.
- Long hours, lots of work and greater accountability.
- The majority of start-ups don’t survive the first year.
- Steep learning curve.
- Corporate functions such as HR and finance gives you piece of mind that your concerns will be heard and dealt with should any arise.
- Job security.
- Higher pay and greater benefits.
- Job roles are clearly defined and workload is shared across team members.
- It is difficult to see the impact your individual effort is having on the business.
- Stricter rules and processes do not leave much room for creativity, innovation or individuality.
- The skills and experience you utilise could be reduced in line with your job description limiting your career options in future.
A lot of people find the culture of start-ups exciting. They enjoy working across a broad range of responsibilities and not knowing what tomorrow will bring. Others prefer not to take risks with their careers. They like to be in an environment where they are clear on what their responsibilities are and where they can earn a good wage with good benefits. Whatever your preference, it is always worth considering all the options and what they might offer you and your future career before making a decision.
Source: Vine 14