5. You are not going to get rich.

Most startups fail. That’s just the nature of the business. And as I’m sure someone will point out in a comment, most businesses fail. In fact, if we stretch it out far enough, all businesses fail. But startups fail fast. Which means they have to move faster than they might fail. So you’re taking on more risk. And they’ll ask you to share that risk with them. Sometimes that means offering you equity, in lieu of a good salary, but more often than not these days, they’ll offer you equity and a large salary.

Do the math. You will be asked to work incredibly long hours. You will most likely need to be available to answer your email at any time of day, and you’ll probably be expected to work weekends when asked. More insidiously, you’ll be made to feel like you’re not a “team player” if you don’t dedicate yourself heart and soul to the well-being of someone else’s company. And god forbid you have a family. So do the math. Take that annual salary and break it down by the actual hours you’ll spend working. (Ask a few of the other employees how much time they spend working to get an average.)

And that equity? Yes, you could be one of the very few who cashes in. And I hope you are. Just know that the percentage of those that do are very very small. And you’re betting your career on it. If we’re in Vegas, I don’t take those odds.