Comparison
Recently a very interesting article appeared in the Evening Standard, comparing jobs in the City with those in Tech (as in start-ups, SMEs, basically types of companies you see around the Shoreditch area). Here are a couple of categories that both industry’s compare in:
Job vacancy (roughly April 2013- April 2014):
32,000 vacancy in the city vs over 15,000 business start-ups in just the silicon roundabout
Reputation:
With the recent scandals such as LIBOR the City’s image has been damaged vs the next ‘cool’ thing to work in Tech based companies
Attitude:
Very competitive, formal, precise vs relaxed, informal, make-up-as-you-go
Autonomy:
In the City autonomy is perhaps a very ‘non-existent’ term as usually they are already strict and rigid processes previously designed by others, due to the nature of the business; they are well established and large organisations. Tech on the other hand is more flexible, you get to choose your own working hours
Government subsidy’s:
While the City is getting absolutely pounded with different regulations and calls for various tax increases such as the bank levy (if Labour come into power after the 2015 general election than expect even steeper rises) vs Tech is receiving government tax breaks in an effort to close the gap between new and established companies.
Pay:
35K stating salary in the City vs 25K in Tech however this may be compensated through share options especially if company becomes successful.
Evening Standards Quiz to asses whether you are a Hot chip or a Blue chip
After-hours sport
Ping-pong or five-a-side? (ping-pong! yay! )
Favourite time-wasting method
Brain-storming or conference calls? (not the best question since even here at Accelerator we have to perform conference calls)
Work idol
Jordan Belfort or Sheryl Sandberg? (both.)
Ideal Friday night
Downing pints at Abacus or sipping cocktails at Worship Street Whistling Shop? (don’t mind a mix of both to be fair.)
The suit
“The armour of a modern man” or a fossil of Eighties corporate culture? (armour of a modern man i guess? Its not like i’m going to wear plate metal armour to the office.)
Geek factor
Is it a compliment or an insult? (was an insult in the past, now its a compliment)
Hair necessities
Designer stubble or scruffy mop? (Defiantly scruffy.)
How does this relate to Accelerator
Accelerator is a leading business incubator based in Shoreditch, London that provides business incubation for start-up and businesses. Accelerator is also part of London Metropolitan University and it runs start-up programmes for its students and alumni. Therefore if you are considering to start-up your own company or struggling with your company than your optimal choice should be to join us as we guaranteed high chance of success.
Wojciech Buchacz, Accelerator Intern