First of all, before we even discuss quitting your job and what you're going to be doing next, we need to learn how to quit your job. There is absolutely a correct way to quit your job and that is to:
- Have a plan in place
- Don't burn any bridges
- Have emergency funds for the worst case scenario
- Have a job offer already in hand
- And most importantly don't, and I repeat, DON'T tell ANYONE at work that you're quitting.
There will likely be another article going more into detail about how to properly and professionally quit your job, but for now we'll go into the reasons.
5 Reasons to Quit Your Job
1. You're Underpaid
Sometimes, significantly underpaid. Look back at the raises you've gotten throughout the years at your current company. If you're seeing an average of ~2-3% yearly raises, you're not too far off from the national average.
In fact, a 2-3% yearly raise is barely enough to even cover inflation.
2. You’re Undervalued
Unsurprisingly, consistently low raises barely covering inflation will cause quite a few people to feel undervalued. But more than that, how's the office morale? Do you feel like you have a voice or valued input within your company?
If you feel that being undervalued is a big reason you want to quit, don't feel alone as you're one of the 66% of workers who value appreciation. It's okay to want recognition for your work. After all, we spend most of our waking weekday lives focused on our jobs and it plays a huge role in our overall happiness.
3. You Hate Your Job
Hate your job? Not surprising, you're not the only one. According to this gallup study, 30% of Americans (and 15% of workers worldwide) feel "engaged" at their jobs.
True, not all of us will be working our childhood dream jobs (I'm still nowhere close to being a professional basketball player... yet), but that shouldn't mean we should hate our jobs.
So what can you do? Where do you go from here? It's true that often times you can't just quit your job and chase after your dream, but there is a vast and often times unexplored area in the middle where you can find professional satisfaction and personal freedom in your career.
4. You've Been at Your Company for Over 2 Years
If you like the job or career field you're in now, you might still consider leaving your company for a competitor working in a similar role. But if your company is good enough, why should you leave? Well, if you want to make significantly more money, it only makes sense.
Staying at your current company for 2 or more years will earn you a paycheck worth about 50% less than your colleagues who jumped to a competitor. In short, move to a different company every couple of years = get paid more.
Think about it. If you stay loyal and committed to your current company, they have absolutely no incentive to give you raises greater than the national average. The majority of companies will do the absolute minimum they can to keep you juuuuust content enough to not quit.
But if you interview around and get another job offer, they're not going to give you 2-3% raises, you'd be getting offers worth 10%, 20%, 30%, sometimes even 50% your current salary.
5. Job Hopping Isn't that Big of a Deal Anymore
Continuing even further into the discussion of "going to a new company every 2 years", you might be thinking "well isn't job hopping pretty bad?". According to the data, maybe not as much as you might think.
Job hopping has become much more normalized and to a certain degree, expected. If you're younger and earlier into your career, job hopping is much less of a negative and much more of a "finding your footing" in the early stages of your career.
Of course, the #1 thing you have to ask yourself before considering quitting your job is "can I afford to?". If you have too much to lose, then start applying for jobs at night or working on your resume while staying at your current job. You also become a much more attractive and enticing prospect if you're already employed, as unemployment can be a huge turnoff for many employers.