Author Topic: Recent Mustachian - should I quit my job?  (Read 4810 times)

FITortoise

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Recent Mustachian - should I quit my job?
« on: May 08, 2016, 07:11:23 PM »
Hello,

Following the Mustachian guidance (see first post http://forum.mrmoneymustache.com/ask-a-mustachian/paid-off-student-loans!!-how-to-best-invest-next/), I finally feel like am on the right track towards FIRE.

However, I'm in a stressful job which I do not enjoy at all. It's impacting health (such as frequent insomnia), my confidence level, and I feel my days are spent doing meaningless work towards no desired career path. There is a lot of negativity in the organization and on the teams as well. Therefore, I am considering resignation before even finding another job. At the same time, I know doing so will set me back on the journey to FIRE. I currently live in a high COL area in the Northeast, but can move in with family/friends while looking for a job in a city that I enjoy more and which has lower COL.

What would you do, and what factors would you use to make the decision? Thank you in advance for sharing!

JLee

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Re: Recent Mustachian - should I quit my job?
« Reply #1 on: May 08, 2016, 07:22:37 PM »
Do you have the money to do this? What are your career prospects after you quit?

dess1313

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Re: Recent Mustachian - should I quit my job?
« Reply #2 on: May 09, 2016, 04:36:19 AM »
Can you take any training through your organization to reclassify or diversify your skills?
Can you shift to another department or different location?
Can you make a lateral or downward move to take the pressure off? This is sometimes easier while still in the organization
What about going part time?
Do you have an emergency fund? Own a house or rent? How easy or hard wouldnit be for you to pick up and move?
Are there good job prospects for your skills?

olivia

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Re: Recent Mustachian - should I quit my job?
« Reply #3 on: May 09, 2016, 10:11:19 AM »
Have you applied to other jobs yet?  When I was in a miserable job in the past, I found that just applying to other jobs helped me feel better about my miserable job. 

I would not leave a job without another job lined up, even if you do have a fall back plan. It's always easier to find a job when you have one.

Dee18

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Re: Recent Mustachian - should I quit my job?
« Reply #4 on: May 09, 2016, 05:27:57 PM »
How long have you been there? 

dess1313

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Re: Recent Mustachian - should I quit my job?
« Reply #5 on: May 09, 2016, 08:58:00 PM »
then start putting out your resume now.  this gives you a bit of time to apply for jobs, do interviews, all while gathering a paystub.  cut your expenses down to just the minimums so you have some flex money to transition to a new job/place.  Just knowing you are looking for a way out, may take some of the stress off because you know it will be short term

aFrugalFather

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Re: Recent Mustachian - should I quit my job?
« Reply #6 on: May 09, 2016, 09:00:38 PM »
Applying will make a difference in how you feel.  Try it first.

DebtFreeBy25

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Re: Recent Mustachian - should I quit my job?
« Reply #7 on: May 09, 2016, 09:39:20 PM »
Is it possible for you to interview for other jobs while continuing to work your current job? If yes, set a quit date for six months from now. The goal is to aggressively pursue a better position. If the date you set is approaching and your prospects aren't looking good, you may need to adjust your expectations.

If your current job makes it extraordinarily difficult to find another job while working there, then you're faced with a tough choice. Develop a plan for how you'd earn enough to cover at least your minimum expenses. Notice that I said earn; your savings should be your emergency fund. Also consider how you'll handle this situation on your resume and in interviews. I'd encourage you to do some type of work in the interim, so you don't have a gap.

I've had to quit two different jobs without another "real" job lined up. It's never an easy decision. In both cases, I had been miserable for over six months, and the demands of the job (erratic schedules, excessive hours and tons of travel) severely hindered my ability to interview. Imagine if how you'd respond if you quit and still didn't have another "real" job six months later. If you could mentally and financially weather that situation AND would still be glad you left, then quitting may be a reasonable choice.

FITortoise

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Re: Recent Mustachian - should I quit my job?
« Reply #8 on: May 10, 2016, 09:21:29 PM »
Appreciate the thoughtful responses! I started talking to people with roles that appear interesting/at companies of interest. Also starting to apply. Interview prep takes time too. I need this motivation/kick from y'all.

A special thanks to @DebtFreeBy25 for sharing your experience.

Apocalyptica602

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Re: Recent Mustachian - should I quit my job?
« Reply #9 on: May 18, 2016, 06:27:34 PM »
Sorry to hear, I am going through something similar but not to the extent of misery you outlined above. (I actually posted a thread earlier today about my situation haha!) I personally plan to stick it out while I'm searching, but I support your courage and prioritizing your mental and physical well being if you were in a truly toxic situation.

I'm revising my cover letter and resume as we speak and plan to aggressively pursue new opportunities. I started to get some good advice, one thing I'll parrot from that is 'Apply every day, and apply immediately'.

Since you've resigned. You should treat your job search like your full time job. Get up approximately the same time as when you were working, even get dressed properly if that helps get your mind right. Sit at a desk (at home or elsewhere) and apply. Apply. Apply.

FITortoise

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Re: Recent Mustachian - should I quit my job?
« Reply #10 on: May 19, 2016, 06:08:14 AM »
Thanks, @Apocalyptica602, for sharing your situation and for the action items :-) I will, and maybe we can continue to encourage each other in this process. I also hope your situation improves in the meantime.

MrsDinero

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Re: Recent Mustachian - should I quit my job?
« Reply #11 on: May 19, 2016, 06:14:43 AM »
I agree with those who are encouraging looking for other employment before turning in your notice.

As far as quitting without having a job that will wholly depend on your financial situation.

How long will your emergency last?  How long can you live without a paycheck?

Are your friends and family ok with you moving in?  Is yes then for how long?  Will you be sharing expenses?

Will moving to a LCOL affect your ability to apply for jobs?

What is your Plan B if you cannot find a job before your emergency fund runs out?


rothwem

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Re: Recent Mustachian - should I quit my job?
« Reply #12 on: May 19, 2016, 07:04:15 AM »
I agree with those who are encouraging looking for other employment before turning in your notice.

This. 

I'm curious, does the job pay well?  If so, then why not use this as an opportunity to gain some emotional intelligence and grit?  I used to run a department in an automotive parts manufacturing plant, 21 direct reports on three shifts.  It was similar to what you're describing--cutthroat, negative, stressful, etc.  There was a daily 7am morning management meeting where people would spend the entire 30 minutes tearing each other down.  My girlfriend almost left me because I brought the stress home, I didn't sleep, and it sucked.  However, the job paid very well and I didn't have the cash to quit. 

I interviewed a couple times, and found that I was most likely going from the frying pan and into the fire by just trying to "get out".  I needed goals to work towards, like early retirement or owning real estate to keep me focused. Once I made this realization, I looked at my job as a way to achieve those goals, and not my life.  It helped me sleep better, and suddenly all of the negativity and backstabbing rolled right off my back. And the funny thing about bullies like I worked with is that once you stop letting them bother you, they stop trying.  I was suddenly a spectator watching stupid people fight among themselves.  I ran my department, helped my employees out where I could, and I started applying to jobs that I was interested in.  Once I made the switch from "running FROM something" to "running TO something", I was much more successful in my interviews.  I ended up with a much better job making $15k/year more. 

Every now and then, someone will try to bait me into getting upset about something, but now I can recognize it and let it roll off like water on a duck's back.  That's emotional intelligence, and I wouldn't have it if I hadn't worked my crappy job.  Use your shitty job as an opportunity to grow, and run TOWARDS a new job, not AWAY from your current job. 

Just my 2 cents. 

FITortoise

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Re: Recent Mustachian - should I quit my job?
« Reply #13 on: May 19, 2016, 07:13:19 PM »
Use your shitty job as an opportunity to grow, and run TOWARDS a new job, not AWAY from your current job. 

Wise words. That makes a lot of sense! "going from the frying pan and into the fire by just trying to "get out" is probably what would happen. How old were you when you had that job?

As for the pay, it's below market for my skills, in many ways this was a step back in my career. Knowledge-wise and in getting to a new industry, this certainly helped.

@MrsDinero thank you for all the questions. Family & friends are OK with it for a few months (I'm lucky to have them, but also have always been independent while being supportive). Without ANY income, emergency savings probably only last 3-4 months.
« Last Edit: May 19, 2016, 07:21:21 PM by FITortoise »