Today we have a post from Shannon, a regular contributor.
I recently wrote about the challenges of working for a difficult boss, and sometimes because of the boss or other factors in the work environment, we grow to dislike our jobs. This is an awful state of affairs to find yourself because this is where you spend the bulk of your day. And I have been there with you.
It is important to remember, though, that you have to control your negative emotions about your work environment and make a smart plan about what you are going to do next. Here are some questions to answer if you are thinking about leaving your job.
1) Do you want to stay in the company?
If you have just grown out of your current position, but would like to stay with the company, then you need to start networking around the company. If you have a supportive boss, then talk to this person about your thoughts and ask for his or her advice on how you should move within the company. Schedule meetings with people in the company who work in other areas. It is a great way for you to learn about other possibilities and have them get to know you to remember you if a job opportunity opens up in their group.
Look on your company’s internal job postings site to see what might be available. Remember that you may end up making a horizontal move within the company, but you will gain a great amount of experience from working in other areas of the organization, which will help you, move vertically later on.
2) Do you want to go back to school?
Do you feel as though your next career move will require you to have a skill set that you can only gain from more school? If that is the case, you should do plenty of research into the cost requirements of school and the expected benefits you will gain from the new career. I know people who have added large student loan debts to their financial burdens only to make less than they were making in their previous life.
The website, Smart Asset has some great tools in determining how much student loans you should take or whether or not it makes sense for you to go to school. I know that it might be something that you are passionate about pursuing; however, you have to make sure that your passion does not add a financial burden that you won’t be able to manage.
3) Who can help you?
From the moment you know that you want to make a change in your career, start listing all of the people that you know that could help you make that change a reality. You can look through LinkedIn to find these resources or your own contacts. Once you have the list, start reaching out to the people to let them know your thoughts and how they might be able to help you. There may not be any immediate opportunities available to you; however, this group of people will become your own personal recruiters who will look for opportunities while you are as well.
I had a friend reach out to me to let me know she was looking for a new job, and my company did not have an opening available at the time; however, a few months later, we posted a position that was perfect for this friend and I let her know and I was able to help her get the job. I would never have thought of this person for the job if she did not reach out to me and let me know she was interested in a change.
The most important thing to remember when you are thinking about a career move is to do as much research as possible on all of your various options. Frequently people get caught up in the emotion of not liking their job that they act too quickly to do something else and then find themselves in a bad place financially because they didn’t do enough research. I know that it is painful to work in a job you don’t like, but putting yourself in a bad place financially because of it is definitely worse.
What advice do you have for someone who is thinking about changing jobs?
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My hubs wants to take a law course, but he is still doing a LOT of research about the cost. We have a lot of things to consider like money, time and about his current job.
Clarisse @ Make Money Your Way That is VERY responsible of your and the hubs. Education is an expensive investment and if it is not going to give you good returns, then maybe it’s not the best investment you can make.
Excellent post here Shannon, this is something that I myself have now done twice and it is probably one of the toughest things I’ve ever faced, the what if and what to do next sort of questions..
What are your thoughts on making sure when reaching out to others i.e. friends, family to ask for a new job that you actually look to add value to them first?
When I contemplated changing jobs (to a different technology company) I had to consider whether the job security at the prospective company was any better than where I am currently. The answer was no, so I stayed put.
Changing jobs is a lot of work! Lots of paperwork, drug tests and training. Make sure you really do want to make a job change and aren’t just having a bad week or something. I know when I’m having a bad day at work (doesn’t happen that often yet!) I think about getting a new job and what other opportunities could be out there.
I’ve actually been struggling with this a lot lately. I need a new challenge and a change of some sort, but i just don’t know what I want to do. I have a lot of interests and would love to learn more about other things to maybe make a career out of it, but I don’t know if going back to school is right for me. I know the industry I am in is certainly not!
The thing I’d say is to take your time to make sure and research/ think over where you want to go. There is a balance to have with that, of course, but you don’t want to change only to regret it shortly down the road. Other than that, I think the horizontal move you mentioned can also be a good option, especially if you’ve stagnated in your current role or don’t like working for your current boss.
mycareercrusade I think that people (especially friends and family) truly want to help you in your career path without anything in return. That being said, though, I think it is a best practice to always look to help others in any way possible, especially if you plan to ask them for help in return.
DebtChronicles Great point!!! The grass is definitely not always greener and job security has a very high value.
BudgetforMore It’s true!! There is a lot of work that goes into changing jobs that most people don’t contemplate. When you add those time costs into the mix, it makes a move less appealing.
PrairieEcoThrifter I think if you know you are open for a change, the best thing you can do is talk to anyone and everyone. Putting yourself out there will open you up to discovering new opportunities and you may just find the one you were looking for in the process. Good luck with your search!
FrugalRules So true John! I don’t think that people give enough value to the horizontal move. I did it myself in my career, and it launched me into a great path that I stayed on for 8 years.
My advice is to consider costs of switching including commuting costs, benefits, salary/wages, and a possible lag between paychecks. My advice would be to have a good emergency fund built up and don’t quit your current job until you have something new lined up (unless money is not an issue)
Loved this post and great timing because I have been thinking about switching jobs for several months now. But I definitely have to keep the financial aspect in the forefront of my decision making. Right now I have a good salary plus 401k option and decent health benefits. And I actually just got a new boss who I like but I still don’t really like the company or job. It’s hard to walk away from the financial security so I’m thinking slowly and carefully
blonde_finance mycareercrusade Great answer Shannon, do you work in advising others about their careers or is this simply a hobby and through observations of yours..
I agree with simplybex below. The grass isn’t always greener- Make sure that you understand what you’re really getting into! My husband left a great job for a terrible one last year, and it took a while to recover from that. I’m glad he did it now, and we’re better off for it, but I wish we would’ve thought things through.
This is something I’ve been through a few times, and each time I really took the time to think things through. The grass isn’t always greener, but if you’re consistently stressed out or upset with your situation, something probably has to change. I made a pros and cons list, I made sure I had enough saved up in case I didn’t find something right away, and I talked it over with those closest to me in case my emotions were getting in the way.
simplybex Great points about considering commuting costs as well as changes in benefits. It is easy to get wrapped up more in emotion around a job, but when we remember to keep finances in mind too, it helps keep it in perspective.
Holly at ClubThrifty I hear you! It is easy to get caught up in the grass is greener thought process and miss some important steps along the way.
JourneytoSaving A pros and cons list is a great exercise EM. It’s true, there will likely come a breaking point and you want to make sure you have at least weighed your options as best you can.
mycareercrusade blonde_finance I work with people on their finances, but often career conversations are a large part of it as someone’s salary is pretty much their biggest contributor to financial health.
I think question #1 is an important starting point. The approach you should take will vary depending on whether you plan on staying at the same company or going to another one. I think people should be open to leaving but also should first look at opportunities at their current employer. Sometimes moving to a new part of the company can feel like switching companies altogether!
DC @ Young Adult Money It’s true and it is actually the easiest move you can make because as long as you are doing a good job in your current role, you are a “known entity” within the company and it saves the company money to hire internally than externally.