Building sweat equity
Apr 22nd, 2009 by admin
In the 10 months I’ve been unemployed, I’ve done plenty of volunteer work, including some sweat equity for a Web startup that ultimately I didn’t have the time for.
I’ve volunteered in a Congressional campaign, done some free editing for a news Web site that was starting, and wrote for a site with the hope that someday it would pay off with shares in the company. I ended up saying goodbye to all of them because they either ended (such as the election) or I could no longer afford to give away my time and instead had to focus on finding at least part-time work while continuing my search for full-time work.
And like many unemployed people, I’ve come across job postings that have seemed a little vague, but worth checking out. I recently came across another one and decided to apply. And while I’m sure that it is in no way a scam, the fledging company did want me to work for free for a six months before deciding what the next step would be.
I won’t name the company, or say what they propose to do, but it was an enticing job that would fully use my writing, editing, networking and other media skills. It wouldn’t be a long commute and would take about 20 hours per week. I wouldn’t be paid.
To get the job I’d first have to go through a conference call with other applicants to ask any questions we had. Then a panel might select me to interview, and if that went well, then my name would be passed to the CEO for an interview.
After six months of work, if everyone was happy, then we’d decide if I would either join the company as a full-time employee on salary, a part-time, paid contractor, or have equity in the business.
While I suspect that the company will succeed, and I wish them all the luck in the world, I can’t afford to volunteer that much time for six months, when I could be spending that time doing the part-time work I’m doing now, and expanding the newsletter and editing business I’m starting.
I’m all for sweat equity if it’s a project that has high possibilities, but even then I wonder why the business can’t at least offer some back pay for all of the work done. I know it’s an odd attitude to have in an area where startups are common, but I don’t know how people can afford to do it for long.
I may be taking the short-term view, but with bills to pay and my own projects gaining ground, it’s a move I have to pass on.
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Six months of work, 20 hours per week? Are you kidding me? That is outrageous. I can understand college students working for free as interns, but to ask that of professionals is appalling.