Reminder: Don't Quit Your Job Until You Have a New One

I recently ran into a LinkedIn post titled "That's It, I Quit!" -- What's Your Exit Plan? where a worker says (in part):

I am going out of my mind at my job. I hate my job so much that I'm afraid I'm going to walk out the door one day in frustration. I have almost done that already on two occasions but I stuck it out. I can't afford to live on no salary and if I walk out I won't get unemployment compensation.

The author then gives the worker a ton of advice on what to do next. Know what's not on the list? Quit.

That's because quitting a job, even one you hate, before you have another one is a really, really bad idea. Why? Because your career is your most valuable financial asset and if you mess it up, it could cost you millions.

I talked about this issue a few years ago in Another Reason Not to Quit Your Job Before You Have Another One.

I did offer some advice of my own on what to do if you had a job you hated. In What I'd Do with a High-Paying, Unrewarding Job. I listed the following steps on how I have handled this sort of issue:

1. I started looking for opportunities immediately.
2. I toughed out the current job.
3. I kept succeeding.
4. I took my time.

I've had two instances where I had a job I really hated and wanted out of there ASAP. But both of those times I took the steps above and waited TWO YEARS each time before I finally found something I liked.

The key is to find a new job you'd move to even if you didn't hate your current job. Once you do that, you know you're going to a better place and it's time to jump ship.

Anyone out there caught in a job they hate? What are you doing about it?

Comments

[DIY$]

Great advice -- I really wanted to quit my job a year ago but followed your four steps instead of doing something rash. Within 3 months I had landed an internal promotion which solved the immediate problem. I have continued my external search, but at a slower pace.

Do you think part the reason it took two years to find the right thing was because you were further along in your career? It feels like I could find jobs all day long that would be a step back, but finding the next thing that would be a step up has been more challenging, especially since I have been looking for jobs in a different part of the country.

Do you have any advice for finding the right job in a specific part of the country that you don't live in?

[Jon @ Be Net Worthy]

You're right, it's hard (and stupid) to walk away from a bird in the hand. While not quite the same situation, I had to decide between buying a business about a year and half ago or going back to work at my Fortune 50 company.

When I added up all of the compensation and benefits of the job, I couldn't turn it down. I think that people often underestimate how much compensation they are getting from their day job. Insurance, paid vacation, pension, 401k, etc... It's silly to walk away from.

[FMF]

@DIY$ --

I have been able to find jobs all over the country, but I never limited myself to just one location.

If you're asking how to find a job in a particular city (Nashville, Miami, Dallas, etc.), I have some thoughts on how I'd go about it but nothing I've done specifically.

Are you looking for a job in a particular area?

I think it took me two years to find something because 1) I was picky -- I wanted to go to something better, 2) I wanted to stay in the same (relatively small) industry, and 3) I was at a fairly high level (VP).