I think you're right about the options not seeming real, but I don't know if the reason is primarily risk aversion. I think the majority of CS graduates just don't realise it is an option.
In my university, the big software houses all do serious recruiting on campus. The cream of the crop are generally offered jobs before they graduate (some are also hand picked by the faculty for postgraduate research). The careers office goes out of its way to try and ensure a seamless transition between school and work. In that sort of environment, somebody wishing to work for a startup would have to consciously reject the idea of working for Google/microsoft/IBM/whatever and actively seek something else (and you won't come across most startup jobs on Monster).
I think it boils down to the job offerings being good enough. Microsoft, for example, offer a fancy graduate program with a lot of travelling to interesting places where they certify you in all their main technologies. That training is supposed to seem like an extension of the college life, except it pays well. And its being offered to you before you sit your finals. Just about everybody you know thinks it's a great opportunity. Why go digging for hard to find jobs in companies that might not even exist tomorrow? (Rhetorical!)
Then again, my university is in Dublin, where we have a real shortage of programming talent, a few big name computing companies and almost no startup culture whatsoever. YMMV.
In my university, the big software houses all do serious recruiting on campus. The cream of the crop are generally offered jobs before they graduate (some are also hand picked by the faculty for postgraduate research). The careers office goes out of its way to try and ensure a seamless transition between school and work. In that sort of environment, somebody wishing to work for a startup would have to consciously reject the idea of working for Google/microsoft/IBM/whatever and actively seek something else (and you won't come across most startup jobs on Monster).
I think it boils down to the job offerings being good enough. Microsoft, for example, offer a fancy graduate program with a lot of travelling to interesting places where they certify you in all their main technologies. That training is supposed to seem like an extension of the college life, except it pays well. And its being offered to you before you sit your finals. Just about everybody you know thinks it's a great opportunity. Why go digging for hard to find jobs in companies that might not even exist tomorrow? (Rhetorical!)
Then again, my university is in Dublin, where we have a real shortage of programming talent, a few big name computing companies and almost no startup culture whatsoever. YMMV.