Sherbros, I need some advise - job offer on the table

[Te Huna Matata]

So it's a very unique scenario and I need some thoughts and opinions. Just turned 30, college grad, good job, own a house, car, etc. Got divorced about 18 months ago and I'm paying for all of it on my salary now and it's been a big adjustment. I've been at my company now for 5.5 years. It's a solid working environment but my boss is the EVP and he's 38 years old. There is just nowhere to go and I'm treading water financially. I've been casually looking for about 3 years but I've been more actively looking since the divorce. I'm in a weird position where I make too much money so I price myself out of a lot of jobs where my skills would be a good fit while still not making enough money to afford my lifestyle. I like my company and can't say many bad things about them but it's run it's course and it's time to move on.

Today, after 2 phone interviews and a face to face, I was offered another job. It's with a start up company with a very unique business model. The job they are offering me is perfect for my background and skills and would also be a nice resume booster for the future. It's a pretty important job in the organization so the responsibility is high. But the company is not even opened yet and that scares me. In addition, they want to put me through a training period where they bring me in at a reduced salary for 6 months then move to a full salary when the training period is over. They would not give me a number on a full salary but the training salary is basically what I'm making now.

It's a big risk/reward scenario here. The company aligns almost perfectly with my interests but I'm not 100% sold on the viability of the business model, mostly out of lack of understanding for the demand for it. They were very clear in the interview that this is a risk but they spent almost a decade researching and developing the idea all while learning from the successes and failures of similar business ventures. It also seemed like a very fun work environment with a lot of nice perks but I'm struggling to move beyond the risk of it all.

I'm trying to not give away too much information about the company as it's very unique and will be easily found if searched. But I'll answer any question as best as I can. What do I do here?

 

[Fedorgasm]

I hire people all the time that have a resume full of startup jobs they lost because the company went under.

Startups are super risky. You usually have to work your ass off. There's always at least one ego driven asshole above you that doesn't behave in a professional manner. Also, that salary they promise you, but won't tell you how much? Yeah that'll never happen. It's not that they're lying, it's that they honestly believe they'll hit the big time and be able to pay you that salary, but they are optimists, when in business sometimes you need to be a realist.

The fact that you don't understand the business model is a huge red flag. You assume you don't understand it because you're too dumb, but what if you're not? What if nobody understands it and it's like the emperor's new clothes?

At the very least call them up and ask a few questions about the business model until you understand it. Because otherwise this place sounds like every other failed startup our there

 

[ToxicShocker]

Do you have faith in their product or business model?

 

[BEER]

I'd demand the full salary due to the nature of start ups. With a high likelihood of going under, you should be compensated for taking the risk of sudden unemployment.

 

[UFC=Pride]

Just from reading that no way would I do it

 

[chrisdiaz]

As a person that has worked for two "startups", they are usually stressful as hell and not many of them end up successful. You will end up working with a lot of 20 somethings that are still dumb and not very motivated. Most likely an open office with bosses trying to be cool.

Also that salary number needs to be in writing as well as the offer after the 6 months or tell them to kick rocks.

Just my experience

 

[Rygu]

I'm pretty conservative when it comes to taking risks. Whether it's a good thing or a fault I don't know but I lean towards the latter.

What I do know is out of every friend I currently have, the most successful ones are the ones who were willing to take a risk or two along the way.

 

[Te Huna Matata]

I hire people all the time that have a resume full of startup jobs they lost because the company went under.

Startups are super risky. You usually have to work your ass off. There's always at least one ego driven asshole above you that doesn't behave in a professional manner. Also, that salary they promise you, but won't tell you how much? Yeah that'll never happen. It's not that they're lying, it's that they honestly believe they'll hit the big time and be able to pay you that salary, but they are optimists, when in business sometimes you need to be a realist.

The fact that you don't understand the business model is a huge red flag. You assume you don't understand it because you're too dumb, but what if you're not? What if nobody understands it and it's like the emperor's new clothes?

At the very least call them up and ask a few questions about the business model until you understand it. Because otherwise this place sounds like every other failed startup our there

Very valid points. It's not that I don't understand the business model. I do understand it. I'm just not sure of the long term viability of it as it's a serving a niche community that I am not apart of.

 

[mb23100]

Sounds shady af

 

[smooth assassin]

Don’t do it, you are just intrigued by the possibilities, but startups are dime a dozen and way too risky
Keep looking for different employment in the meantime and not casually ( like you mentioned) actually make a daily concerted effort

 

[Te Huna Matata]

I'd demand the full salary due to the nature of start ups. With a high likelihood of going under, you should be compensated for taking the risk of sudden unemployment.

This was already nixed. They said that they are being conservative with salaries early on until they get on their feet. They do have to have some big investors though. Seeing the facility, they put a ton of money into it.

 

[Headkicktoleg]

If the training salary is guaranteed and what you are making now I would take it and continue to casually search so that if everything falls through you can move on quickly. Also ask for a lot of stock upon completion of the training. You may just win big if it's successful.

 

[boingyman]

Negotiate. Reassess your spending/budgeting.

 

[Kanuck99]

Go for it!

Imagine if the company is a huge success. Now, imagine that you aren't a part of that success because you're too much of a pussy to take a chance.

 

[Uptown Swinger]

Can you take a leave of absence fro your current job which would secure you coming back I 12 months if necessary?
Otherwise - this offer does not worth the risk imo. Keep looking.
Also - Change your lifestyle so that you are not treading water?

 

[chrisdiaz]

This was already nixed. They said that they are being conservative with salaries early on until they get on their feet. They do have to have some big investors though. Seeing the facility, they put a ton of money into it.

Thats sometimes one of the biggest red flags. New companies love to dump money into these "cool" offices and end up spending way too much. One company I worked for before expanded their offices and did a bunch of construction. Guess what? No bonuses all of a sudden. Less "cool" offerings.

The more you mention, the more it sounds like a typical startup. If a friend didnt bring you in or something like that with a personal connection, I would walk away right now.

 

[therealdope]

I'd demand the full salary due to the nature of start ups. With a high likelihood of going under, you should be compensated for taking the risk of sudden unemployment.

Amazon still pays top execs $160,000/yr (other than Bezos). Salaries are the biggest drain on a start up. If you can't handle a low salary, look for something else.

 

[therealdope]

Startups are super risky. You usually have to work your ass off. There's always at least one ego driven asshole above you that doesn't behave in a professional manner. Also, that salary they promise you, but won't tell you how much? Yeah that'll never happen. It's not that they're lying, it's that they honestly believe they'll hit the big time and be able to pay you that salary, but they are optimists, when in business sometimes you need to be a realist.

This ^^.

If you can't handle not being paid for periods of time, or a very low salary, avoid start ups.

 

[mommas homeboy]

You’ll be making the same as you already are. In 6 months you’ll make more, but you don’t know how much more.

So the only risk is whether or not, during the next 6 months or more, the company will go under? If they do, you can find another job. Taking this job will only make you more marketable in the future. I don’t see why it seems so high-risk to you. But maybe I didn’t read the OP carefully enough.

 

[Which Doctor]