The grass isn’t always greener on the other side.
While many would agree that the biggest reason for staying at a job is the financial incentive earned, others would disagree and throw in reasons like one’s passion, the pursuit of a new challenge, opportunities to learn, etc.
Nevertheless, most people would discover that money is still one of the biggest factors that determine the decision when a better job offer comes along.
It is not unreasonable to be money-driven however, there are other factors to consider and questions to ask before making a decision, including;
What do I want for my job, career, and life?
Most people make a huge mistake while quitting their job thinking they’ll just update their resume and start networking without being thoughtful about what their wants and how to get there.
For instance, studying to become a medical doctor maybe interesting but it will not help you achieve the flexible schedule you want. So also, if you’d like to make a career change, think about all the necessary steps. They may include more school, lower pay, or working your way up from the bottom–again.
What can you get from your current job?
If you love your current job and only have a problem with the payment, you may consider asking for a justifiable raise from your boss.
However, if your employer is unable to review your salary, you can negotiate for other incentives like flexible working hours, etc.
Also, outline your job description and compare it with the industry pay-scale to see if your current pay matches.
Do I have enough saved to cover nine to 12 months of expenses?
Financial planner, Susan Hirshman says a few years ago she told people to save enough for six months of expenses. Now she tells people they need nine to 12 months.
Hirshman suggests mapping out fixed expenses like credit cards, transportation, and food, as well as factoring in the “what if” costs.
Is the Time right?
The best factor to consider before quitting a job is the timing.
Consider if you have commitments that you have to fulfill. Are you’re in the middle of a busy season or working on a big project? You may want to honor those commitments so that your team isn’t left behind and you’re able to leave on good terms.
Also, it might be smart to wait a little longer if you’d like to receive your quarterly bonus, holiday vacation, and other bonuses.
Do I have the support of my family and friends?
Not many consider this factor but quitting your job affects the people in your life, so it’s important that you have an honest conversation with your family first. Your spouse or children may need to help or at least participate in some of your cost-cutting plans and need to be involved from the beginning.
Having a support system of friends or close colleagues who can help keep you on track while looking for a new job would be in your best interest.
Switching or quitting a job may sound fancy and look a lot more interesting than it actually is, which is why it is advisable to consider all factors before making a decision. If you are only interested in looking for simple ways to earn extra income, be sure to add VTpass partnership programs to your checklist.