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I do understand the general consensus that you could wait to get laid off and that way collect unemployment.
However, 2 things...
1) You make a LOT of $. The max unemployment in a wealthy state is like $600. The economy is up, so you won't get more than 6 months. That's $15,000 roughly. I mean, that's a decent amount of $, but for someone who makes as much as you, not that much relatively.
2) While waiting for that layoff (and relatively small amount of $), it could take you away from putting your life plan in action. If your job is as stressful as you say, it probably consumes all your time, and you need your downtime to relax and or spend with family/friends. So you're really never going to make a change, and the layoff maybe never happens.
There's no better motivator for a life change than having all day, every day to put those wheels into motion.
I worked as an IT PM for 10 years before I retired. The job can be extremely stressful and a bad boss can make it a nightmare. I would go ahead with your plan and quit on your own schedule. If you are worried about the gap, sign up with a contractor ITStaffing and Modis are both good (I've worked with people from both of them). You may actually find that you like the contracting world better than being with one company. Working as a contractor lets you see inside the company without a major commitment. A number of my friends went from contractor to full time employee in less than 6 months.
I do understand the general consensus that you could wait to get laid off and that way collect unemployment.
However, 2 things...
1) You make a LOT of $. The max unemployment in a wealthy state is like $600. The economy is up, so you won't get more than 6 months. That's $15,000 roughly. I mean, that's a decent amount of $, but for someone who makes as much as you, not that much relatively.
2) While waiting for that layoff (and relatively small amount of $), it could take you away from putting your life plan in action. If your job is as stressful as you say, it probably consumes all your time, and you need your downtime to relax and or spend with family/friends. So you're really never going to make a change, and the layoff maybe never happens.
There's no better motivator for a life change than having all day, every day to put those wheels into motion.
Thank you. Cheers!
Quote:
Originally Posted by Retire in MB
I worked as an IT PM for 10 years before I retired. The job can be extremely stressful and a bad boss can make it a nightmare. I would go ahead with your plan and quit on your own schedule. If you are worried about the gap, sign up with a contractor ITStaffing and Modis are both good (I've worked with people from both of them). You may actually find that you like the contracting world better than being with one company. Working as a contractor lets you see inside the company without a major commitment. A number of my friends went from contractor to full time employee in less than 6 months.
I get a lot of calls from staffing agencies...i typically don't go d what they're offering appealing. With 3 very young kids, I need stability....
Check the job market first. Your view might be too optimistic. I also thought that I'd find something in no time but it turned out everyone needs some very peculiar skill. I neither was interested learning it nor was looking to work in such narrow capacity. If you are out if work for long you start to get desperate and might end up with the same or worse job.
In our state, health insurance cost alone would eat all our savings very fast.
I'm not sure that quitting a job before lining up a new role is the path to stability. You may end up being forced to take a less than desirable role after a few months of searching.
From an employer's perspective, an unemployed person always carries a stigma. If the company dissolved through no fault of the employee, the stigma is quite low, but if the company still exists, the thought will be that you're either difficult to manage or that you make impulse decisions.
Quitting to avoid being let go is a very poor decision (severance + unemployment); quitting to escape an abusive environment only marginally less so.
You mention in your first post that the company is going south due to contracts being up, etc... Will your company be solvent enough to be able to pay out reasonably generous severance packages when the inevitable layoffs occur? Do you happen to know how much others have gotten who have been laid off in the past? At my last gig it was pretty standard for people who were laid off to receive one months salary for each year they had been on the job. Not sure how universal that is but if that's the case for you you'd be looking at forfeiting potentially 9+ months of pay by deciding to leave sooner on the chance that you wouldn't be one of those laid off. I'd evaluate the likelihood of that happening really hard before putting in my notice.
I hope for this to be a light-hearted thread....without judgement and irrelevant and nonsensical comments.... sorry, forgot for a second that this is the internets.....
Anyways, I'm quitting a relatively high paying job (~155k) primarily due to two factors: 1. Company is going south given that our govt contracts are going away in a few months and it'll be VERY ugly soon....and 2. My boss/CEO is very abusive (verbally) and unreasonable. (Let's just assume I'm right and that way we won't have to debate reason #2).
What's the best way to quit in your opinion?
My plan is to quit in two weeks, with my last day being early January given the 2 weeks notice. I don't have a job lined up yet, but have been vigorously looking. I'm not really hurting for cash thankfully, so I'll be ok even if I won't find a job for a couple of months....but I also am aware that future employers may not like the fact that I'm unemployed....and may not believe someone would quit a well paying job for no reason.....
I would MUCH rather quit than be fired or laid off....hence the timeline above....and I don't really want to drag my feet any longer and wait until I find a job before i quit.....this decision is 2 or 3 years over due!!!
Any thoughts welcome. Be kind, be mean, doesn't matter. At least make it good and entertaining!
Even though you're financially solid for the next few months to years, I would be inclined to stick around, unless you absolutely needed the time. One of my coworkers left early to focus 100% on searching for his next job. For some people, it may also be able mental health and anguish.
AFAIK, if you stick around and let them lay you off, you should get unemployment benefits, as well as that much more time in pay and benefits. In most of the places I've worked, they pay out unused PTO, so you'd add to that if that were the case.
As far as labels of "being fired", "quitting", or "being laid off", they're relatively meaningless. In all of the places I've left (on good and not so good terms), the exit interview mentioned by HR that when other employers call to check dates of employment and job title, they'll provide only that. They do NOT want to deal with defamation suits. NOTE: this is a check up to confirm dates of employment. This is NOT the same thing as a professional reference! For that, you typically give them the contact info of people you worked with, and they mention how you were to work with (which is typically good too since these professional references are those that you chosen yourself, with a negative or 2 thrown in for both good and honest measure ).
Even if they don't explicitly mention that they have this policy, people have overcome being fired both through their own fault and not their own fault. Other employers and HM are human too. They've been under bad management that run departments into the ground, or otherwise make for a hostile work environment. Some of them see patterns like a fair bit of candidates coming from the same company or circle and can put 2 and 2 together.
Even though you're financially solid for the next few months to years, I would be inclined to stick around, unless you absolutely needed the time. One of my coworkers left early to focus 100% on searching for his next job. For some people, it may also be able mental health and anguish.
AFAIK, if you stick around and let them lay you off, you should get unemployment benefits, as well as that much more time in pay and benefits. In most of the places I've worked, they pay out unused PTO, so you'd add to that if that were the case.
As far as labels of "being fired", "quitting", or "being laid off", they're relatively meaningless. In all of the places I've left (on good and not so good terms), the exit interview mentioned by HR that when other employers call to check dates of employment and job title, they'll provide only that. They do NOT want to deal with defamation suits. NOTE: this is a check up to confirm dates of employment. This is NOT the same thing as a professional reference! For that, you typically give them the contact info of people you worked with, and they mention how you were to work with (which is typically good too since these professional references are those that you chosen yourself, with a negative or 2 thrown in for both good and honest measure ).
Even if they don't explicitly mention that they have this policy, people have overcome being fired both through their own fault and not their own fault. Other employers and HM are human too. They've been under bad management that run departments into the ground, or otherwise make for a hostile work environment. Some of them see patterns like a fair bit of candidates coming from the same company or circle and can put 2 and 2 together.
Have you thought about creating your own business? If you hate working for others, why don't you explore the possibility of working for yourself? It is not easy, but it is a path that is well worth looking into. If you know technology, it has never been easier to create your own job than today.
I'm also in IT and have also quit my job effective the end of the year. I gave my managers a heads up a few months ago that I was leaving. Have been working a side hustle for a while now, and I need to spend more time on it to get it into overdrive.
If my attempt fails and I need a job in 6 months, then I won't have a problem explaining my prospective employers why I did what I did. I believe that entrepreneurship is one of the most underrated skills when interviewing. Entrepreneurs are self motivated, go getters, self learners, and have a wide variety of skills, and are problem solvers ... etc.
I think Thinking Man just wants people to know he is earning 155. Am I right? Congrats!
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sorry, forgot for a second that this is the internets.....
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