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Free Money Finance

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

Posted: 10 Oct 2016 02:05 AM PDT

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?


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