The Worst Times to Quit Your Job

The Worst Times to Quit Your JobThe Worst Times to Quit Your JobThere might never be a perfect time to quit your job, but some times are worse than others. Even if you hate your job and you want out of there as soon as possible, its better to make an informed decision and leave when the timing is right. Dont decide in haste and quit in the heat of the moment- it could cost you money and negatively affect your future career prospects. Be sure to consider all the factors carefully when youre thinking about handing in your resignation and weigh the pros and cons of your reasons for moving on. Reasons to StayYou have notlagehing else lined up...and no savings.You dont have a long-term career plan, so your move would be mora lateral than upward.Youve recently committed to a project so you would be leaving your team and your employer shorthanded at a critical time.Reasons to GoYour days with the company are probably numbered anyway, so explaining your resignation to a potential new employe r is easier than explaining why you were fired.You have one or more solid job prospects in the wings.It might be time to move on if your employer treats you so poorly that each day is a stressful, emotional ordeal. You Fought With Your Boss or Co-Worker If you have a conflict at work that cant be repaired- and that can happen- think strategically about the best way to move forward. Make sure youre not making a rash decision. Explore ending on good terms so you get a positive reference. You Dont Have Another Job Lined Up It isnt always easy to get hired, and it can be harder to find a job when youre out of work and desperate. Factors such as a down job market or your occupation not being in demand can make it an uphill battle. Hold off quitting until youve been hired elsewhere if youre in an industry with a poor job outlook. Youre About to Be Fired There are both pros and cons to quitting before it happens if you think youre about to be fired or laid off. If you quit, you wont have to explain to future employers during job interviews that you were terminated. Its easier to explain a resignation. The flip side is that quitting could disqualify you from collecting unemployment. When it seems pretty certain that a layoff is in your future, it might be better to wait until it happens. In addition to unemployment, you could be offered a severance package that will help you transition to new employment. Youre in Line for a Promotion Is there a promotion on the horizon? You might want to put that better job title on your resume. It will provide you with additional opportunities when youre ready to begin job hunting, and you might even like the new job enough that you decide to stay. You Dont Have an Emergency Fund Quitting can be expensive. Do you have an emergency fund with enough money to cover your expenses for a month or two...or six? Keep in mind that even if youre hired reasonably quickly, the job might not start immediately and you might hav e to play catchup with at least a few bills. You Havent Really Decided on a Career Yet Do you have a clear idea of the next step on your career path? You might want to do some career research before you start looking for a job if youre not sure. Try to figure out career options while you still have job security. Take evening or online classes, volunteer on weekends, and explore some ideas for what you want to do next. Youre About to Get a Bonus Does your company give annual or holiday bonuses? You might not be entitled to receive yours if you quit shortly before yours is due. In fact, you probably wont. Hold off until afterward to ensure that you get your extra pay. Youve Taken on a Big Project It might be a good time for you to move on, but it could be the worst possible time for your boss and your team if youve just taken on a big project. Unless you must quit due a personal safety, health, or wellness issue, quitting right after youve agreed to take on a big project c an reflect poorly on you and rob you of good references. The standard notice period is at least two weeks. You should consider giving your employer even more of a heads-up if youve just agreed to take on a project. You Havent Finished Classes Reimbursed by Your Employer If your employer has provided you or your family with a tuition benefit, you could lose it if you quit while you or your dependents are still in school. Check the fine print of your tuition reimbursement plan and act accordingly. Your 401(k) or Pension Is About to Vest Think long-term. It could be worth holding off on your resignation if its a matter of staying just another month or two to get additional retirement benefits. Consider what you want to do with your 401(k) and how much its going to cost you if you leave your job now. You Have a Baby...Or Youre About to Have One You might be entitled to paid or unpaid time off if youre pregnant or have an infant. Check on what happens to your eligibility befo re you decide to resign while youre on maternity leave. It could make sense to wait and turn in your resignation when youre near the end of your leave. You Still Have Vacation Time Some employers have use it or lose it vacation policies. Consider using your time if you have vacation or other paid leave still on the table and it seems likely that youll lose if you dont take it, or you wont be compensated for it if you quit. If you dont have a new job lined up yet, you could use your vacation time to find one. You or a Loved One Have Health Problems The Family and Medical Leave Act provides for unpaid time off if you or a family member are undergoing medical treatment and you need time off from work to deal with that. Your state or employer might also offer paid disability benefits. You must have worked for your employer for a certain period of time to qualify for most benefits. Also check on any employer-provided health insurance benefits to see what happens with your policy if you terminate employment. How to Decide When to Quit Think smart and carefully plan your departure so youre quitting at the best time. Consider if theres a way you could turn things around and learn to love your job. If not, make the decision to quit on your terms, and have a timeline for your departure in place. Take time to carefully and professionally tell your boss that youre leaving, and negotiate a start date with a new employer and a departure date with your old one to help the whole process move along more smoothly. You wont burn any bridges, and you wont have to stress about any of the details. Youll be able to focus all your energy on starting your new job and enjoying your brand new position.