You work at a startup because you believe in the mission, want to have a bigger impact, your co-workers rock and you want to KNOW how to start one someday. The exit is the gamble for gravy.
I'm really sick of companies that think I will take a 30-50% pay cut for a foosball table and Nerf-gun fights on Fridays.
2) You can gain valuable experience by starting your own company. There are plenty of blogs, articles, and sites like HN that can help you along the way.
i left my electronic trading job, which had great compensation, to move to san francisco and work at a startup. i knew i'd be taking a pay cut, but i did it for the experience, so i could be better prepared to do my own startup.
i'm glad i did.
Are you involved in customer development, talking to investors, making connections as part of the startup? If not, there's not much upside.