The Forbes article, Why Recent Grads Are Swarming Startups, stated that 47% of Generation Y works in a company with less than 100 employees. Recent graduates that the author had spoken with chose startups because they felt that doing so allowed them to contribute meaningfully to a business while also seeing end results. The increase in recent grads heading to startups could be due in part to the rising support of entrepreneurship from universities. According to the Wall Street Journal some 13 academic incubators have been launched or are in development in New York alone. Entrepreneurial studies is the third most popular major for millennials, who are 1.82 times more likely to study entrepreneurship than other generations.
Though, it’s been documented that 75% of all startups fail so you might be wondering why joining a startup out of college is a good bet. Here are just a few of the aspects that motivate recent grads to join a startup:
Upward Mobility
As startups grow, new job titles are added on a regular basis and those who are already with the company are usually considered first for promotions. At more established companies there can be fewer opportunities for management positions as managers remain in their jobs for years and new upper-level positions are rarely created.
The Opportunity to Wear Many Hats
Startups usually can’t afford to hire a lot of employees right off the bat, this means that one person typically does the job of 2 or 3. For some this may sound daunting, but it gives recent grads the opportunity to learn many aspects of the business, this is a rare opportunity in well-established companies. If you ever decide to leave the organization, your resume will have a strong display of talent and skills that might not have otherwise been gained at a corporation.
Passionate People
Most people are aware of the risks that come with working at a startup. If a person has decided to work with one it’s most likely because they are excited about the organization’s mission and are working there because they truly want to be there. This creates a culture full of energy and passion; a team of people who truly believe in the idea they are working on.
Image Borrowed from Startup Weekend
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