How Brazilian professionals grew fond of startups

A few years ago, the definition of professional success in Brazil normally included a stable job in a large corporation or state-owned company, where you could remain for 30 years before retiring in an upper management position. Well, judging by recent research, that’s no longer the case. 

Two studies released by LinkedIn this year point to a change in Brazilian professionals’ behavior. The first, the Brazilian edition of LinkedIn 25 Top Companies 2019, polling where Brazilians dream of working, included a number of new firms in high-ranking positions. Itaú Unibanco, the largest bank in South America, remained as the go-to choice for Brazilians, but Movile, the owner of brands iFood and PlayKids, appears in third place. It is followed by other tech-heavy names, such as digital marketing startup Resultados Digitais and fintech Nubank. On the other hand, giants such as Vale or JBS, two of the most emblematic Brazilian companies, didn’t even make it on the list.

Speaking of Nubank, one of Brazil’s first unicorns, the fintech leads the list of LinkedIn’s 25 Top Startups 2019, followed by digital bank C6. It is important to note the ranking only includes private Brazilian companies that have been on the market for less than seven years and have at least 50 employees.

A changing world

But what has made Brazilians flock toward riskier companies, with changing business models and the risk of 12-hour workdays? According to Marcelo Braga, CEO of HR consultancy Reachr, the answer lies in a combination of different career mindset, a changing labor market and...