Sometimes, it comes a time in your professional career when you can’t take any more of a certain job position you have been on for a while.
However, you might ask yourself what should you do if you don’t have another job lined up.
There are some pros and cons for the situation that you need to weight, but the decision whether you should quit your job without one lined up is certainly not an easy one.
In this article, we are going to help you by exploring the following questions:
- What are the pros of quitting your job without another one lined up?
- What are the cons of quitting your job without another one lined up?
- How to prepare for quitting your job without another one lined up?
And once we are done, hopefully, you will be able to take the decision a bit easier, and be prepared how to do it right.
So, if you are ready, let’s dive in.
Pros of Quitting Your Job Without Another One Lined Up
Let’s begin with the pros you need to take into account when deciding whether to quit your job without another one lined up.
Opportunity for a break or vacation
The first upside of quitting your job without another one lined up is the chance for you to take a breather away from the workforce.
There are various reasons why you would need one, but the most common ones are:
- You might be considering a career change, and need some time to figure out your new professional direction
- Your mental health is on the decline due to your current job
- Your physical health is suffering due to your current job
No matter the case, a little time away from work can really help you out sort out whatever you need to.
Time to reassess career goals and explore new opportunities
One of the most important things for today’s employers is for their employees to have meaningful careers.
However, sometimes spending too much time on the same job can cause you to lose perspective about your career goals, and feel lost.
That’s why taking some time to reassess your career goals, or explore some new opportunities, can help you get back in the workforce better than ever.
Whether you would like to take on a career change, or you need to figure out how to climb up the career ladder in your current professional field, some time off is one of the best ways to go.
Ability to leave a toxic work environment
It often happens that a high-demanding job can mix up your priorities, and cause you some personal problems.
If you feel like your time with your loved ones has been put on hold for most of the time, you should ask yourself if you are in the right place.
However, there is a much more toxic case when it comes to work environment.
If you are mistreated at work, that can lead to some serious mental and physical issues.
In such a case, you need to get rid of the toxic work environment, even if you don’t have another job lined up.
Additionally, if you can prove the abuse or harassment in the workspace, you might be able to leave your job, and still get unemployment compensation.
Being forced out of work due to poor treatment in the workplace is called constructive dismissal.
Cons of Quitting Your Job Without Another One Lined Up
After looking at the pros of quitting your job without another one lined up, you might feel ready to do it right this minute.
However, don’t rush it, and take some time to take a look at the cons as well before you make your final decision.
The most obvious downside of quitting your job without another one lined up is the financial instability that you might encounter.
Even if you have some money saved up, you need to calculate your decision carefully when it comes to your finances until you get a new job.
You would not want to be surprised about how fast your bank account drains when you don’t have a job.
When considering your financial stability, you also need to take into account any additional benefits you receive in your current company, such as subsidized health insurance, or corporate discounts.
To calculate everything as good as possible, consider all your living expenses, like:
- Purchases for the lifestyle you want to live
Last but not least, you need to keep in mind that you might get a pay cut in your next job if you are switching fields of work.
Difficulty finding a new job without a current one on your resume
Another thing you need to consider when deciding whether to quit your job without another one lined up is what is the current situation in the job market.
Desiring a certain job does not mean that you can land it, especially if the job market is uncertain, like during a pandemic.
In such a case, you need to be okay with the possibility that you might not get a job for a year or more.
Potential negative impact on your professional reputation
One of the worst things you can have on your resume is a gap in your professional history.
That’s why you need to carefully consider if leaving your current job without another one lined up is really the right move.
However, if you still decide to go for it, make sure you have a good explanation for the gap on your resume.
How to Prepare for Quitting Your Job Without Another One Lined Up
After weighting your pros and cons, there is a chance that you still want to quit your job without having another one lined up.
In that case, you need to know how to prepare yourself to do it right.
You can do so in a few simple steps.
Building a financial safety net
The first thing you need to do before quitting your job without another one lined up is make sure you have prepared a financial safety net.
It can be one of many forms, or a combination of a few forms, like:
- Having good amount of savings
- Going back to live with your parent for a while to save money
- Taking a low-stress ad hoc or part-time job to earn some money
However, before you go ahead with quitting your job, make sure you talk to everyone involved to make sure your plan would not fall apart.
It is also a good thing to put a time limit on the period you would require their help, so that you would have a definitive end-point.
Networking and job searching before quitting
The second thing you need to do is prepare to do some serious networking.
Quitting your job without another one lined up does not mean that you are cutting all your connection to the business world until you decide to get a new job.
If you want to get back on a job, you would need some professional connections to make the process easier.
We are all done, now you understand what are the pros and cons of quitting a job without having another one lined up, and how to prepare if you decide to go for it.
Let’s go through all the pros of that:
- You would have an opportunity to take a break or a vacation
- You would have some time to reassess your career goals and/or explore some new opportunities
- You would have the chance to leave a toxic work environment and spend some quality time with your loved ones
As well as the cons:
- You might find yourself in a situation of financial instability
- You might find it difficult to find a new job without a current one in your resume
- You might experience a negative impact on your professional reputation
And remember, if you decide to go for it:
- Make sure you have built a financial safety net for yourself
- Don’t stop networking, as it would help you find a new job once you decide to get back to the workforce
Carefully weight your pros and cons for quitting your job without another one lined up, and take the best decision for your future.