Stuck between choosing a startup or a corporate job to start your career? Read this before making choice

You know the field in which you wish to work. You are also sure about the job role you plan to take up. But, what every GenZ is really struggling with these days is the crucial call of choosing between startups and well-established entities.

No doubt, the decision you make now will directly impact the next few years of your life.

So, it must be well-thought and properly planned. In addition, both options have innumerable advantages as well as downsides. So, the only way to end your misery is to find your best fit. It depends a lot on your vision, priorities, ambitions and the kind of work culture you wish to embrace.

The moment we hear the word “startup”, we start to imagine ourselves operating in a highly flexible environment, where the prime focus is on innovation and collaboration. However, the sense of instability associated with startups often ignites fear in us. On the other hand, corporate organisations, especially the tech giants, offer a more stable income and well-defined responsibilities. However, their rigid hierarchical structure may not allow you to grow or climb up the ladder as quickly as you think.

Truly baffling, isn’t it? Fret not. In this article, we will dive deep into this seemingly never-ending debate and discuss the pros and cons of working in both startups and corporate entities to help you understand which option aligns with your career goals.

Startups: Advantages and downsides
Needless to say, the Indian startup ecosystem is among the fastest-growing in the world. To break it down for you, startups are companies founded by innovative minds who believe their products can revolutionise the markets and remove the current disruptors. Many startups — such as Paytm, Nykaa, Zomato, OYO, Ola, CRED and Flipkart — have fuelled the growth of the Indian economy with their innovative solutions, marketing strategies and creative entrepreneurial skills. And guess what, even after registering billion-dollar evaluations, these companies continue to introduce fresh ideas.

Pros of working in startups

• Prioritise employee comfort: Several startups have earned a reputation for putting the convenience and comfort of their employees above anything else. Informal dress codes, fun brainstorming sessions, healthy discussions, remote work opportunities, and well-designed employee rest areas are among the measures these small companies take to retain highly talented employees.

• You receive a plethora of opportunities: As said earlier, innovation and passion are the driving forces of every startup, and this is exactly why your ingenious creations will always be appreciated, recognised, and might even be implemented. Besides, you get to take on and learn from multiple roles. As a startup is launched at an early stage of development and usually functions with less than 50 employees, one person wearing numerous hats at work is a common sight. For instance, if you were hired as a content writer, you might be soon asked to slide into the role of a marketer as well.

• You grow with the company: As you are part of a small team, your hard work and contribution directly influence the growth of the company. In other words, you experience a sense of achievement and pride as the company grows. In addition, while working closely with a set of members, you tend to imbibe the most important skill — team building. Moreover, when you engage with the founders on an everyday basis and function directly under their guidance, you would be inspired and motivated to explore your calibre.

Downsides you must consider

• Lack of job security: Startups do fail. A huge risk factor associated with startups is that there is no job security. Yes, many Indian startups have successfully transitioned into renowned unicorns. But, unfortunately, that’s not the fate of every entrepreneur. Today, a startup might be closing million-dollar deals, and the next day it might shut down.

• You get paid peanuts: During the initial stages of development, startups struggle for funding. As a result, employees may not get the kind of pay they actually deserve. A startup experiences financial growth after several years of existence, which often increases frustration among employees who are generally forced into multi-tasking. You might get stocks of the company and a bunch of perks, but cash-in-hand can be low.

• Unbearable workload: It has been rightly said that freedom comes at a price. In startups, you are expected to devote more than the typical work hours every single day. Time and again, employees at these companies have cited heavy workload as a major cause for mental stress, breakdown and burnout. So, your millennial boss might offer you work-from-home flexibility, but be prepared to get a lot of calls on your day off also.

Corporations: advantages and downsides
Unlike startups, corporate entities are finely structured entities that employ thousands of employees to ensure an undisrupted channel of communication across various levels and segments. When you sign up to work in these well-established companies, it is recommended to brace yourself for a formal approach toward day-to-day operations, as everyone has a predesignated role to fulfil. Also, these companies have been in the industry for decades. Hence, it is only natural for their employees to work under established guidelines and protocols.

Pros of working at a conglomerate

• Brand association will give a boost to your career: From primary schooling to graduation to landing a job, brand name counts. Your future employer will get a peek into your dynamic skills and capabilities just through the listing of prestigious schools, universities and corporations on your resume. Getting hired by Google or Infosys undoubtedly talks volumes about your competencies.

• Financial security = Low stress: Corporate entities do not rely on funding to offer monthly pay checks to their employees. They have been in the industry long enough to survive different market conditions. In short, you don’t have to struggle to feel financially secure. Besides, they have the capacity to fund your training, upskilling and reskilling programmes to retain you. Moreover, along with high-salary packages, you can also get several benefits such as travel allowance, medical insurance and incentives.

• Specified and specialised roles: A notable advantage of working for a large corporation is that there is a talented individual for every role, which removes the need to burden yourself with filling various shoes. It is because of this specification of roles that you end up mastering and specialising your skill. In addition, when you are asked to just focus on your responsibilities, you do that wholeheartedly and without leaving room for errors.

Downsides you can’t overlook

• You are never a part of the decision-making process: In a startup, you can participate in taking decisions that impact the workings of the business, as there is no structured top-to-bottom layer of administration. Whereas, in a corporate setup, you are only expected to follow the decisions made by the individuals at the top. In fact, even for slightly altering a strategy, you will have to seek the approval of multiple team leaders and managers.

• Tough competition to beat: We all know that every individual is fighting a battle to get hired by renowned companies. The struggle doesn’t end at landing the job; you will have to fight within the organisation to tightly hold your current position or to get a promotion. Everyone wants to be recognised and valued for their actions and contributions, but only a few individuals end up leaving a mark.

• No room for experimentation: If you are entering the corporate world with a zeal to try something new every day, then let us stop you right there. It is very rare for corporate employees to get to learn a skill that doesn’t cater to their profile or role within the organisation. Despite your consistent efforts, you will be redirected to the job you were hired for. There is no denying that large companies have started offering their employees the opportunity to branch out, but those numbers and opportunities are still very low.

Choose the best fit
Whether you wish to join a startup or a multinational conglomerate, make sure that your decision aligns with your goals. Over the years, we have seen individuals taste success at both kinds of companies. You must decide what works best for you.

If you can take risks, try something out of your comfort zone. If you desire flexibility over pay, there are hundreds of startups ready to welcome you. On the other hand, if you are concerned about brand name; decent and steady pay; employee benefits and, above all, want to operate in an organised setting, don’t think twice: Just join a large corporation.

You will grow in both setups, but the rate at which you will experience growth depends on your skills, abilities and the willingness to learn and unlearn.