Leaving the FAANG league to take on a bigger role at a startup - thoughts?

Margorie52·Dec 19·3 replies

Hello, Elphas! Seeking some perspective from any of you who left a bigger company to take on a bigger role at a startup, especially in a different domain.My background: I am a Software engineer turned Product Manager. Been in the industry for 7.5 years (2 of which were as an engineer, last 1+ as a Program Manager at Netflix, and the rest has all been PMing at startups and one big gaming company). I want to get back into PM and am saying yes to almost all exploratory conversations. I talked to this FinTech startup that was a pioneer in the market 5 years back, slowed down a bit somewhere in between (in terms of innovation, their core Products kept the business healthy), and are trying to accelerate now by establishing a new leadership layer and kicking off new Product innovation charters. I *think* they will make an offer and am super confused about what to do. My decision framework:- I seek: Opportunity to create a legacy Product I can point to and confidently call mine, hopefully with a little pride- Pros with this role: They'll top my current pay, will likely offer a leadership role, more ownership, company has great traction in the market although has lacked on the innovation side (they talk about plans on how they've been changing that)- Cons/Concerns: This is a company that's always been a niche fintech player in the market (one of the first, YC funded when they started), which is great but I kinda wonder how it would "look" on my resume that I moved from Content/Entertainment into Fintech which is such a different domain. They plan to put me on a Product initiative that is more in line with my experience in consumer content/entertainment, because apparently they have a charter for setting up a new business in the Finance Media side -- but the fact that it's a new domain and their pace had slacked a bit last few years makes me wonder if they can do it. But given the leadership role, ironically, maybe it is a question for me to answer? Like, if I build it successfully then they will be able to do it else not? The leaders I've spoken to have been impressive, so I believe the founder's claim of hiring a strong leadership layer.My fears I think stem from the fact that my job switches have always been a conventional step "up" in terms of brand as well as company size. Even right now, I could wait for another opportunity within the FAANG league that I'm currently in, but it'll likely be a horizontal move. So, were you ever at such a decision point? If yes, what did you choose and what was your framework for making that decision? Big Brand or Small Brand? Domain Expertise or Leadership role? Big company or startup?

mortylin·Dec 19

These are quite personal preferences - I've always worked at startups, but there's a lot of variance even within that. I think it's more the culture that impacts your enjoyment. I've worked at a startup I loved and also a startup that I found really frustrating, I've interviewed at large companies (ok, one big co) that really seemed to promote entrepreneurial spirit that would have probably been more startup-y/lean than one of the startups. I find my gut is usually right based on how much I respect the founders / the people I would be working with and whether we have shared values.

cathygao·Dec 20

@Margorie52 all really great questions, none of which are easily answered via text. I'm happy to help you and talk you through my experiences because I went through the same decisions in the last 5 years. Also, I've been in fintech most of my career so I can give you some perspective. Feel free to DM me and we can talk through your concerns.

joclark

joclark·Dec 21

joclark

joclark·Dec 21

As the Founder of a Startup here is what I'd consider if I were in your shoes: 1. How much input and creative latitude do you want/need? In a startup if you negotiate that into your role, you may get more input with the CEO than you would at a FAANG type player. 2. What are the Startup's prospects for some sort of liquidity event (like going public or getting acquired?) If you're moving anywhere with a great track record and a FAANG past, the equity you get should hopefully offset the perks + package you'd get at a Neflix, etc. 3. What are your long-term career goals? Do you want to ultimately do your own Startup or be in the C Suite (CIO or CTO)? If so, a Startup is a great oppty to see or even do more across roles and business units (vs. being @ a bigger company where your role usually focuses on one area). That will be good for you if you're looking @ either C Suite or Startup Founder futures. Finally, 4. Do you love Fintech? Or do you LOVE what the Startup is doing? Startups are hard. Water starts pouring on the ship and it takes a pretty tough person to say, 'I'm going to grab a bucket, start bailing water and figure out how to plug the hole' even if this ship seems like it could do down vs. 'Help, I'm outta here'. A Startup Founder like myself needs you to be the bucket grabber. If you leave at the first onset of potential trouble or at a challenging juncture, it puts us in a very tough position and can even upset the delicate apple cart of staffing at a time you need your key players the most. I hope this helps! And all that said, if you love shopping, I'm looking for Co-Founders w/ your experience and background around transactional shopping that does have a Fintech element to it. If you like that better, PM me and we can chat! Tk care and good luck!