Should Freshers consider Start-Ups? Exploring Opportunities and Career Benefits

Is the thought of working in a fast-paced start-up company exciting for you?
You’ve possibly heard about how start-ups fuel innovation and you might want to be part of an exciting new venture or a revolutionary idea that meaningfully contributes to society. However, you could feel pressured by family, friends, or others into opting for a “stable” career with established companies. If you’re still undecided, let’s look into the opportunities that start-ups could offer freshers like you, while also discovering the challenges you need to prepare for when making this choice.

But before that..

What is a start-up?

In a nutshell, a start-up is a newly established company, aiming to develop and deliver an innovative product or service; in other words, providing a unique solution that addresses a common pain point faced by consumers or businesses. It’s often associated with the tech industry, but the fact is that it can evolve in any field. Focussing on innovation, they are “disruptors” in a way, as they challenge traditional business models and practices.

Let’s examine a few key statistics relating to India’s Start-up Growth and potential.

• • April 2024 witnessed a surge in the number of Indian startups by 37% compared to the previous year.
  • About 53% of startups target fresh graduates with 0 to 3 years of work experience.
  • Over 15.5 lakh jobs were created by more than 1.4 lakh registered startups.
  • The IT sector has the most job openings.

Source: Found it Insights Tracker (fit)

Now we will explore reasons why Startups appeal to young graduates like you. Perhaps you will identify with some of them.

1. The Excitement of Innovation:

Fresh ideas like building a new app, creating sustainable products, or significant advances in technology – these are exciting for those dreaming of being involved in something that will change the market dynamics. Take for example the food app Swiggy which started as a small food delivery service and has evolved into a giant today. The freshers who joined the company at its nascent stage played an important role in seeing the company take off.

2. Hands-On Experience Across Multiple Roles:

A start-up could be your playing ground if you do not like to be confined to one role. Here you could manage social media for a while and then be involved in product strategy. In IT, you could juggle between back-end development, front-end, or full-stack – the options are endless. This is hard to find in larger and more established companies where roles are more defined. With diverse exposure, you not only strengthen your resume, but can experiment with different roles and find your niche.

3. Fast-Tracked Career Growth:

In start-ups, if initiative is shown, you get to climb the ranks quickly. It is not rare that freshers with potential are given opportunities to lead projects in the first year of their employment, unlike in larger corporations. All you need is the eagerness to learn and take on new responsibilities, without your focus just being on salary. Sometimes you might need to compromise on salary for the sake of gaining tremendous exposure.

4. Making an Impact from Day One:

In start-ups, your ideas are valued and can directly shape the company’s growth and success. Being in a smaller setup, your voice is heard, unlike in larger corporations where you might go unnoticed. If you want to see your work making an impact almost immediately, then a start-up could fulfill this aspiration.

How will freshers benefit from working at a Start-Up?

• Accelerated Skill Development:

Today soft skills are valued as much as technical or hard skills, if not more. Communication, problem-solving, teamwork and leadership skills develop faster in start-ups than in traditional roles. You gain a competitive edge with this experience, which signals to future employers that you are proactive, responsible and driven.

• Networking Opportunities:

The advantage of smaller teams is that you will work closely with founders and seniors, helping you build relationships with mentors who can guide your career. Also, the connections that you make early in your career can open opportunities down the road.

• Entrepreneurial Mindset:

You will begin to think like an entrepreneur. You will be assigned tasks, but at the same time solve problems and learn to make the most of limited resources keeping the larger picture in view. This mindset will be a huge asset anywhere you go or in any career you choose.

• Flexible Work Culture:

In a start-up, you could enjoy a flexible and more informal work environment, a chance to experiment with different roles, and work remotely or hybrid style. If you’re someone who prefers less rigid hierarchies and a more relaxed setting, this could be just the place for you.

Now, let’s flip the coin. With the promise of opportunity comes challenges.

Challenges Freshers May Face in Start-Ups:

• Job security: If the start-up business does not scale as intended or if funding is difficult, your job could be at risk.  Just as there are many start-ups mushrooming, there are those that have been unsuccessful and had to shut down. You need to be prepared for this scenario if you join one.

• High-pressure environment: Being part of a fast-growing company could be exciting, but often comes with a price – long working hours and strict deadlines. Personal time, weekends, and holidays might have to be sacrificed so you can deliver on time. And this might not suit everyone.

• Unstructured work environment: Established companies have defined processes, including training programs to initiate you into the work environment and help you get the job done. In start-ups, with minimal supervision the learning curve could be very steep as often, you need to figure things out on your own, which could be overwhelming.

• Other Benefits: While Start-ups offer a more casual, flexible and innovative work environment, structured benefits like Health Insurance, paid leave etc might not be on the cards for some. They might not have the resources like established companies to provide these benefits, especially in the early stages.

Are Start-Ups Right for You?

Here’s a quick checklist to help you decide whether a start-up is the right fit:

• Do you thrive in unstructured environments?
• Are you comfortable with risk and uncertainty?
• Do you want to make an impact early in your career?
• Does the opportunity to take on diverse roles excite you

If your answer is yes to most of these, working in a start-up could be it. If not, reflect on what your priorities are for an ideal work environment.

Again, consider this: The start of your career could be the best time to take risks, as you still have time to course-correct. You could juggle with different roles, figure out where your interests lie and then chart your career path.

Gain clarity with Elysian Career Counselling

Understand your individual preferences, career goals, and risk tolerance before deciding between a start-up or an established company. Weigh the options – a stimulating environment with good growth potential, but with an element of unpredictability, or a more stable environment and structured career path, but without the buzz of the start-up culture. What you choose should align best with your career aspirations.

Today, freshers or young professionals should be able to stand out of the crowd by acquiring relevant skill sets in addition to their professional degrees. To understand yourself better and the options available to you with due consideration to your risk tolerance, why not get expert-tailored advice from our Certified Career Counsellor at Elysian? Whether you’re leaning toward working in a start-up or not, professional guidance from Elysian ensures you kickstart your career with confidence.