Tanay u are really amazing brother the guidance u provide it's incredible and the way u explain. I really want to meet u one day and tell u how u change my life thanks a lot!!
I am Rahul Agrawal, aspiring NeoGrad. I am currently working in a startup company which is approx 1year 9month old. When I was selected in this startup, I got offer letter of 2 pages in which only my designation & salary structure was mentioned. When I joined the company I got the Appointment letter of 10 pages in which it was mentioned :-
1) I will join the organization for the contract duration of 2 years extendable. (Which was not mentioned to me in an interview).
2) I was forced to sign non-competent agreement, which states I can't join their competitor companies. (which was not mentioned earlier).
They said my salary would be revised after 2 months, but it was also not revised after two months.
So my question is how do I deal with this kind of startups ?
Because after joining the company, I can't take any action against them & they can also spoil my career if I do something.
I can't leave the company because of family responsibilities.
Please suggest something or write some newsletters so that, no other person gets harassed by these type of startups
I disagree with the less than 5 members criteria, not registered & only stock options (The more than 35k salary bar)
I worked in a startup in which I was the 4th member, had very less pay (10k monthly), and got a lot of stock options. Got to learn a lot during the two years I was involved with the startup.
Yes, there is a huge risk, only recommended to join such places if your family doesn't depend on you for expenses.
The startup shut down and I had to search for a job again. But because I learned a lot in the startup, I was able to get a job in less than a month paying around with 35 LPA base (I graduated in 2020).
> Never believe in talks until unless it's on paper i.e suppose some CEO/Founders has said that your stock is of 10 lacs of worth and He/She only give this bullshit time to time, take exit from the Shit ASAP. I bet they are not genuine people. (I have heard such many stories in Indian startup culture and suffered)
> While joining startup confirm your no of stocks and what's the value of 1 stock and ensure this on paper. ( They will always say 20/10 lac of worthwhile stock worth is in pennies)
> Never work for the long term only on the basis of stocks and compromise a lot on salary (Once they have started making you deserve to be paid well)
> Confounders talk over learning and visibility etc over the business all of them are vague and usually done to keep you distracted, except you are not paid well in stocks as well as in salary. Be watchful throughout the time
Note:- Always think about your benefit and then company, Co-Founders are already thinking about their benefit and their prospective benefit, nobody has the passion to work tirelessly without any benefit.
Got to know lots of insightful information about things going in the industry. I never thought there can be bad players here.
Thanks a lot Tanay Bhaiyya for all
Keep doing such more newsletters
Love you ❤️🤗
Tanay u are really amazing brother the guidance u provide it's incredible and the way u explain. I really want to meet u one day and tell u how u change my life thanks a lot!!
Dear Tanay Sir,
I am Rahul Agrawal, aspiring NeoGrad. I am currently working in a startup company which is approx 1year 9month old. When I was selected in this startup, I got offer letter of 2 pages in which only my designation & salary structure was mentioned. When I joined the company I got the Appointment letter of 10 pages in which it was mentioned :-
1) I will join the organization for the contract duration of 2 years extendable. (Which was not mentioned to me in an interview).
2) I was forced to sign non-competent agreement, which states I can't join their competitor companies. (which was not mentioned earlier).
They said my salary would be revised after 2 months, but it was also not revised after two months.
So my question is how do I deal with this kind of startups ?
Because after joining the company, I can't take any action against them & they can also spoil my career if I do something.
I can't leave the company because of family responsibilities.
Please suggest something or write some newsletters so that, no other person gets harassed by these type of startups
I wouldn't have suffered if i knew these points earlier, Anyway, This Knowledge right here is GOLD !!!
I disagree with the less than 5 members criteria, not registered & only stock options (The more than 35k salary bar)
I worked in a startup in which I was the 4th member, had very less pay (10k monthly), and got a lot of stock options. Got to learn a lot during the two years I was involved with the startup.
Yes, there is a huge risk, only recommended to join such places if your family doesn't depend on you for expenses.
The startup shut down and I had to search for a job again. But because I learned a lot in the startup, I was able to get a job in less than a month paying around with 35 LPA base (I graduated in 2020).
Few Add on
> Never believe in talks until unless it's on paper i.e suppose some CEO/Founders has said that your stock is of 10 lacs of worth and He/She only give this bullshit time to time, take exit from the Shit ASAP. I bet they are not genuine people. (I have heard such many stories in Indian startup culture and suffered)
> While joining startup confirm your no of stocks and what's the value of 1 stock and ensure this on paper. ( They will always say 20/10 lac of worthwhile stock worth is in pennies)
> Never work for the long term only on the basis of stocks and compromise a lot on salary (Once they have started making you deserve to be paid well)
> Confounders talk over learning and visibility etc over the business all of them are vague and usually done to keep you distracted, except you are not paid well in stocks as well as in salary. Be watchful throughout the time
Note:- Always think about your benefit and then company, Co-Founders are already thinking about their benefit and their prospective benefit, nobody has the passion to work tirelessly without any benefit.
Great points Atiq. Thanks for adding.
Are startup bonds fine?
Hell No !! They are major Red Flags !!
This is a great insight to make the right decision.
Glad that you found these useful. Years of experience have led to developing these frameworks. Sharing so that you don't make the same mistakes I did.