Welcome to Linkibuzz #58.
Our first featured article looks at a personal story from Shreya Mathur who talks about her experience quitting a corporate job for a startup and why she regrets it.
Our second story explores the unique challenge faced by Scottish employers because of the Brexit. Scotland is in a precarious position and changes to immigration laws could be particularly detrimental to Scottish companies.
Third, we take a look at one of the biggest disadvantages with joining a startup – the stark difference in salary. It’s something all young people must give consideration to if they want to join a startup.
Lastly, we focus on a startup called Konsus that could be a dream come true for every freelancer because of its claim of guaranteeing freelancers a steady flow of work each month.
There is a major attraction about startups for many people. It’s largely that sense of working towards something that could potentially change the world or be the next great innovation. It’s about playing a major role in making that vision a reality.
However, as Shreya Mathur points out, many people should think twice about joining a startup. This is a story straight from the horse’s mouth about why a cushy job with a large corporate organisation may sometimes be the better option.
Shreya tells us how she quit her job with a well-known multinational corporate company for the lure of a five-month-old startup. She was attracted by the typical things many young people find appealing in a startup. However, she realised soon after that it was a big mistake and that it was actually better for her at her old job.
These are the things, in particular, she mentions really made her regret her decision to go to a startup:
- Job roles
- Pay and perks
- Learning opportunities
As she points out though, corporate jobs also have their cons as well and it’s up to every individual to choose what they think is best for them. However, we think this is one you should read if you’re unsure about whether to choose a startup or an already established corporate company.
There is a very real prospect of labour shortages in Scotland following news of the Brexit and it’s undoubtedly going to have an effect on Scottish employment and filling skills gaps.
As it stands now, there are sectors in Scotland where one-quarter of those jobs are filled by workers from the EU. Understandably, Scotland is worried about how this is going to affect them with changes to immigration laws, which are certain to happen.
Theresa May has already indicated that EU immigration is a crucial part of the new government, so it seems likely that the freedom of movement for EU citizens in Scotland is going to be restricted.
It’s important to note that Scotland’s needs are vastly different to those of the rest of the UK. Scotland has an older workforce compared to anywhere else in the UK so they currently depend on EU workers to fill those gaps in employment.
Until negotiations are completed, it’s hard to really say what is going to happen. It does seem likely though that there will be new changes to immigration laws and these could have a terrible effect on Scotland. However, we do think it’s likely that the new government will grant certain protections and privileges for those workers already working in the EU.
In news that probably won’t surprise many, employees make less money working at startups than at more established companies. This article focuses specifically on Washington D.C.; however, we can expect the same kind of salary differences throughout most of the world.
There is the obvious attraction to startups for many young people but as the article points out, it does come at a cost. The cost is mostly felt in the salary and it’s quite a difference. For example, it’s been shown that the average salary for all age groups in the D.C. area is around $6,903/month. For D.C. based startups this number sits at around $4,224/month, so it’s quite a significant difference.
While we’re all aware that there are some disadvantages with working at a startup compared to a more established company, this goes to show the kind of vast difference in earnings potential.
Without a doubt, the thing that attracts many young people to a startup is the chance to be part of some great innovation or change in the world. However, as this article shows, you cannot expect the same salary and there is always that risk of the startup failing.
These are important factors young people must consider before joining a startup.
Freelancing is an field that has grown incredibly popular over the last few years. However, a problem that many freelancers will be able to relate to is the monthly fluctuations in income that occur each month. For some, it’s even worse than that and all the work dries up leaving you back at square one.
This is a major problem for freelancers but one startup called Konsus from Norway thinks it has a solution to this freelancer’s bane. Basically, their platform is supposed to give freelancers income security. Their aim is to give freelancers a steady amount of work each month and guarantee them that same amount of work.
It sounds like a dream come true for many freelancers, to never need to worry about workflow again because you constantly have a steady supply. And that’s a gap in the freelancer market that Konsus are trying to address.
So far, things are looking positive for the startup. It has acquired $120,000 in seed money and there are currently 200 freelancers using the platform. Time will tell if it succeeds or not, but it’s certainly a sign of optimism for freelancers.
Thanks for reading this week’s Linkibuzz.
Firstly, we looked at why you should think twice about joining a startup based on one individual’s personal experience. Secondly, we looked at how Scottish employers are facing a precarious situation regarding the Brexit and affects it will have on their workforce.
Third, we focused on a huge disadvantage of being in any startup and that’s the big difference in salary. Lastly, we covered a story about a startup called Konsus that could provide a solution to one of the biggest problems faced by every freelancer – a lack of income security.
We hope you enjoyed these stories and we look forward to seeing you for Linkibuzz #59 next week.