Terrified to jump from corporate to pre series A startup. Company is raising A right now. In my dream industry working on an idea I am passionate about. Generally worried about losing my stable paycheck and taking about a 15% paycut. Also concerned how change from consulting to start up might translate if this all fails? Advice?

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You can always go back to consulting you may not always have a chance to join a great start up. If you believe in their product and the founders joining right as they raise a series A is a great opportunity.

15% paycut is not bad at all to join a startup. Just make sure you are getting tons of equity. (0.5% -1%)

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Lol only taking a 15% pay cut for a pre-series A is impressive. I’ve worked for much less at startups

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I was in a similar situation early in my career, took a pay cut to go to a startup. The startup folded after 2 years but it was the best decision I made, help me break into a new area and when I came back to corporate I was able to garner a much higher comp than my peers. Don’t chase the $$$ over fit.

likehelpful

You should be more terrified to not follow your dreams. Ain't no one on their death bed ever that said "boy, I wish I did more for the corporate world". Ever.

Follow your dreams. If you die Friday you will not have regretted it.

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Lol just left for a 40% pay cut at a pre-seed startup. The way I see it, if things go well the salary will adjust itself towards market rates, and if it goes south I can either boomerang or leverage the experience and higher learning/growth rate from doing the startup to a rest-and-vest big tech job.

likesmart

If your life metric is simply money, Take risks while you can afford them - ie before kids. No one ever built real wealth on the back of a paycheck alone.

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I did multiple early stage startups and with 4 kids. My wife was a teacher, so she kept us above poverty 😁.

Loves it. Learned a ton. Grew a ton. I now have much more to offer in all the roles I play.

Also, paycheck security is an illusion. In a startup, I knew exactly when the money would run out. At a bigger company, you often don't have visibility on reorgs, layoffs, etc. That's never happened to me, but it is a real thing.

Good luck!

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I recently left my stable government job making 6 figures. It was a good job and admittedly, I enjoyed it. Great work life balance, good people, good team, rewarding work. Left it to pursue my first startup full time with a 50% pay cut, as I am taking on a second mortgage. I was working both for a year and half but finally made the move. It was very scary as I came from a background that valued financial stability greatly. Never thought I could be more than a “government worker”, but the moment I left with everything on the line I feel like I’ve unlocked a whole new side of me I didn’t know existed (in a good way). I will be taking the company to series A in a few months and I expect things to soar quickly very soon.

likesmart

That’s so great, I’m very happy for you as I know it must have been very difficult! Best of luck to you and your new venture! Cheers to the journey.

likehelpful

I haven't left my job nor has any of my co-founders. The paycut we did on purpose and it hurts but mostly do to the fact we went from 70+ hrs a week at out jobs to 50 max hours. We still need people on board but its amazing how many people don't want to work over 40. Even less if they can. I worked 70+ hrs a week for years and worked another 29 on the company and product development. You can't expect that from others.

likeuplifting

Leave on good terms. Tell you want to try something new. You are not going to competition so KPMG will be fine and may take you back if things don’t go well.

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I took a 40% pay cut for a startup that didn’t work out. I would follow your dreams and it could work out well. If you don’t have many commitments then it’s a no brainer

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Make sure you get some meaningful equity at the pre series A price. If they have signed term sheets you will get it at the series A price in which case you should get paid as a series A employee (comparable to consulting)

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Re what if it all fails: nothing to worry about imo. Seems like these are the best possible times for recruiters, market is crazy.

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Of course your terrified. That’s ok. Think through best and worst case. Like, I would hate to move my family in with my Dad but my wife would never let that happen. So I might have to live in a crap town where my brother-in-law has some rentals- been there, done that, survived.

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Did something similar before (consulting to pre seed startup but it eventually failed). Feel free to reach out if you have any questions! But agree with the general sentiment on the thread! Overall, I’d say the experience was definitely worth it.

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It always helpful if the startup is already generating revenue and have few to 0 liabilities. If the books are stable it gives good confidence. You can always define a timeline like you give yourself couple of years be financially independent during that time so you would prepare yourself for worst.

Don't hesitate to start afresh and be agile.

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I have been working in startup for 5 years. You'll see management change, shutdown due to lack of funding, being acquired by a public company, etc. It was a rollercoaster of emotion, but I had an explosive professional growth. And the people you met along the way, I am pretty sure they will be with me for a lifetime (considering all the events we went through). Be brave, and move forward! And I wish you all the best of luck!

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With a start up you will most likely take on different roles, get to learn new skills. It's accelerated professional development. Staying in Corp, in the long run you'd never get those chances to develop. A 15% paycut for this is worth it.

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