Career: Should I keep working for a startup?

Question

I am pursuing my M-Tech as well as joined the start up side by side. I am little bit confused whether I can handle this work pressure.. 
and  how much risky is it to join a start up at age of 25 I m very indecisive(as it's not my own start up I am part of a team of 4 members)

Clarifications sought by me

1. Are they paying you enough?

2. Do you enjoy the work?
3. What is best and worst part of working there?
4. Break down your confusion into simple pieces-  Are you learning new things, Are you able to make contacts and do networking with people who can help you land in a decent job, Are you happy? Yes/No and why?

Is the startup related to your M-Tech course in any way. Please answer as much and as quick as possible :) Don't think much just write down what's goes in your mind. Don't judge your thoughts. 

Additional details provided by questioner as a clarification: 

No, they are paying just enough for expenditures (INR 3000) but they committed for more when they will have funding. 

I am enjoying as I want to work with some new concept, it was my wish to work as entrepreneur.

I am little bit tensed  because my job role is not clear as well, it's a basically data entry type work (in tech language you can say data management) 

But truth is I have to commit 8hrs a day initially (we have committed 3 days in a week)

I have studied the IME(industrial management n engineering) in that I have studied all the management related courses so you can rate this entrepreneurship with my field. 

And the most important thing is that  I don't have any idea about the core team concept, the rights on the share of the company and exactly what are the economic sources those leads a start up.

My Answer

It is very interesting from the point of a case study. I am able to say so because I work in a MNC but have a startup culture as I am deputed to a project site which is treated as a small autonomous unit within the company. My response is based on the learning I have acquired from working with startups as a client, from the first hand experience of people working in a startup and my keen interest in following the startups.

Let us first analyse your case:

Positives:

1. You wanted to be an entrepreneur and this is a step in that direction.
2. You enjoy working there.
3. You know the concepts of management and hence working in a startup will help you see the impact on your work clearly.
4. No work is small.  Three workers were asked a question "What are you doing?" while they were laying brick during construction. First worker replied that he was laying brick, Second worker replied that he was making a room and the third worker replied that I am contributing in building a wonderful building. All were doing the same thing but their response was different. We all have to be like the third worker as seeing the bigger picture keeps us motivated.
5. What I understand that you don't have any financial problems. So, don't worry much about the salary and right now you are doing M-Tech, so working at Startup is not a bad idea as long as you are in college provided you make a fine balance between work and academics.
6. You can make contacts with other like minded people by working at that company. It will help you in getting job offers from well established companies also.
7. Treat this as you are working on a live project as an internship. It will boast your confidence, build your knowledge and would help you during on/off campus placement. I can say so confidently as my sister told me that recruiters were impressed with the knowledge she accumulated during her internship at a startup. It provided her with an cutting edge advantage over others.
8. You get to know what you like or dislike much earlier than landing in a full time job. You can consider your current job as a mock test of your feeling that you like to work at a startup.
9. There is less hierarchy and you can see the output of the efforts you are putting. 

Not so Positives:

1. Working at a startup is a dynamic process. You have to stay outside your comfort zone and you would visit your comfort zone rarely.
2. You have to believe in the core idea of the founders else you will not feel motivated to put long hard hours.
3. Your role would not be defined. You have to be jack of all trade. Just think of it like an Indian wedding of your brother or sister. Do you have a specific role. I guess no. You have to do everything ranging from shopping, planning for the wedding venue, food, welcoming guests, dealing with emergencies, etc. You don't have a profile. Same goes for an startup. If you can happily deal with that then working for a startup is one of the best thing to do in life.
4. Your pay would be less as they have to be competitive and have to do a job at a price lesser than the established players in the market.
5. You have to work harder than those at well established companies.
6. But, the more struggle you do, the better and stronger you become. So the answer to your question that Is it better to work for Startup at 25 is a big yes. Right now, as a bachelor you can toil in long hard hours to make things happen. 

Words of caution:

1. As a fresher, don't bother much about pay. My cousins with pay as less as 10K per month are now earning more than 15+ LPA after 8-9 years.
2. We work till 60. So, in our working career of around 35 years, it hardly matters if we started with a lesser pay or a couple of years later than our peers. It is so because, life is a marathon and not a sprint. The struggle you do today will be helpful throughout your life.
3. Keep learning and updating your knowledge. Typewriting was a craze when I was a kid, it was a desirable skill. When I grew up, typewriters were replaced by computers and people who were earning their bread and butter based on their typewriting skills switched to computers as the change was essential for their survival and the move was logical and a comparatively easier one. So, moral is that we may face a crisis of job when we are 40-45 and might have to switch industry, so it is always better to keep make our self adaptable to change.
4. Don't keep all your eggs in one basket. Do many things. Participate in extra curricular activities at college, do well in academics and also work at the startup. I know you would feel killing me on reading this as it is not easy but I said what I have learned the hard way:)

Way Forward:

1. I think you should work for the startup to learn and get hands on experience even when you are in college. 
2. Don't limit yourself. Learn a bit about HR, Accounts, Marketing, Technical aspects, Getting Investors, etc. Who knows, the investor might be interested to hire you at a pay you deserve for doing a work you love?
3. Lucky things happen when we keep doing many things.
4. Take care of your health, your relationship with your loved ones and always try to maintain a good work life balance.
5. Pursue your hobby even if you don't have time because we never have time, we have to find it. In last 3 months, I wrote close to 400 posts here. In last five years, the total posts on this blog was 10-11. Only thing is that I have cut down on my sleep from 8 hours to 6 hours and I  never miss a chance to write and post something as it keeps me going.
6. Newton's First law is really true "A body in rest continues to be in rest and a body in motion continues to be in motion". So, when you get the taste of enjoying your hobby then you will find time for that. And, Newton will take care of the rest. Trust me!

Hope, this might have been helpful :)