CareerAdvice: Should I Move to a Startup for a 50% Increase in This Market?
Hey there! Looks like you’re at a crossroads in your career, trying to decide if moving to a startup for a significant pay raise is the right move. Let’s break down the pros and cons to help you make an informed decision.
Current Situation:
- Total Compensation (TC): $100k to $150k
- 2.5 Years of Experience (YOE) with a non-CS degree
- Current job: Boring, micromanaging, but stable
- New job: Small with 6 devs, funded, remote, similar tech stack
- Potential issues in the past but seems to have overcome them
- Positive culture and interesting product
Analyzing the Options:
Pros of Moving to the Startup:
- 50% pay increase is a huge boost financially
- Opportunity to work on an interesting product
- Escape from a micromanaging environment
- Small team may mean more opportunities for growth and impact
Cons of Moving to the Startup:
- Uncertainty in working for a smaller company
- Potential risk of instability compared to a stable job
- Lack of previous experience in a similar environment
Actionable Steps:
- Research the Company: Look into the startup’s history, funding, and reputation in the industry to gauge its stability.
- Evaluate the Culture: Talk to current employees, if possible, to get a sense of the company’s work environment and values.
- Assess your Goals: Determine if the pay increase is worth the potential risks involved in working for a startup.
- Negotiate Terms: If you decide to move forward, negotiate terms like equity, benefits, and flexibility to ensure a fair deal.
Final Thoughts:
Ultimately, the decision to move to a startup boils down to your comfort level with risk and your career goals. Remember that change often leads to growth, and working for a smaller company can offer unique opportunities for development.
🚀Good luck with your decision, and trust your instincts! You got this! 💪
What kind of runway do they have? If it’s at least two years I say go for it. 50% pay bumps are rare and can change your trajectory. I took one a could years back. The gig only lasted a year before we ran into funding issues but I don’t regret it in the slightest. Besides an increase in pay I took an increase in responsibility which also helped career progression.
how much of the TC is cash? Small startups you should typically value the equity at ~0, at least when evaluating offers.
I wouldn’t. I know people who are going on two years of searching after being laid off. It’s brutal out there.
prepare to be overworked at startup if you’re taking it.
I joined a company in 2022 that had just raised a round, and then raised another round while I was there for a total runway of 2 years. They laid off most of the team (including me) one year into my tenure because two of their biggest customers churned. Unless the idea/product is really incredible and has crazy product market fit I wouldn’t do it. Remember, most startups out there don’t make it. Those might fail while you’re not there, or they might when you’re there. Unless you have a low risk-profile (family money, no obligations, etc) I’d be cautious.
You don’t know your current job is stable. 2.5YOE, you are possibly young? Take the extra money and bank it.
I’d do it.
Personally I would take it. Work might be harder and more scrappy but you’d grow more as a dev and make more money. If you just want to chill and coast and keep the cushy job don’t take it
> From the interviews the company had issues in the past but has gotten past them
They have 6 devs, they ABSOLUTELY are going to run into way more, and much bigger, issues as they scale. Don’t get me wrong, it’s a move I made and I don’t regret it, but you are 100% trading your work-life balance and stability for more money. You mention 150k TC, how much of that is equity? I’d consider that to be Monopoly money with a startup this small. Also 2.5 years of exp is not a lot, so I would definitely make sure I understand how much runway they have, because the market for juniors is absolutely brutal right now.
Pay close attention to their issues.
Do you hear any alarm bells? Is anything making you go “I’m not sold…”
I have a theory. We all have a monkey brain. Monkey brain can detect things that normal you can’t. You have to LISTEN to monkey brain when it talks to you.
If you have that feeling of “I’m not sure why…. But this feels really off.” That’s monkey brain. It should be listened to.
If monkey brain is happy… make sure the rest of you is too. Then pull the trigger.
In the current world situation, I’d be looking for a company to have 2-3 years of runway, any less than that is a real warning sign. Especially with November ahead. (Whichever side of the aisle you are on, you’ll agree there is a good chance of disruption in November.)
If it’s a large cash bump it would be worth it. If not, I’d stay at your current job until the market gets better.
Startups close up shop or have layoffs all the time. With 2.5 YOE you’re still gonna have some trouble in the market now if you get laid off.
I would do it if I were younger. I have done so before. In my case, actual salary was just about the same (or even a little higher) than previous job. Very fast paced. Everyone dreaming of how they would spend money if the thing blew up. There was a blow up. Unfortunately the explosion was the company going bust. I bounced as soon as they had trouble making payroll. I would do it again.
Always advance!
Follow your heart. There is no such thing as a stable job. What do you feel like doing right now? If it feels like it is time for a change, go for it. If you are happy where you are, then stay
Here’s how I would think about it:
Job security doesn’t really exist anymore. Current job is stable – until someone decides the company bottom line would look a lot better with less people on board.
Companies with excellent financial performance laid people off this year.
So rather than worrying about job security, worry about career security. Staying in a boring job probably means your resume is going to look like crap by comparison to what it will look like if you go work at a startup.
I have friend who has gone the startup route and every time his company has folded, he’s had a job lined up in under a month – because the skillset he had developed has given him a ton of career security.
I would advice you to take the new job, try to save as much as you can of the extra 50k a year you’ll be making (to give you a buffer), and get ready to work as hard as you can to make sure your resume looks like an A+ resume in a year’s time.
Imagine you take the job and you are laid off in a year you’ll have 6 months of salary to find a new job compared to staying at your current job. In other words you can leave the new job in a year and take 6 months sabbatical and you’ll be at the same financial level as staying at your current job.
That’s money wise, but I’ve never worked at startups.
> Current job is boring and kind of micromanaging, but stable
Caution, the worst micromanaging I’ve ever been exposed to came from CEOs of small companies.