Is quitting without having another job lined up a good idea? Probably not. Here's why.

At some point or another you've likely entertained or even acted on the urge to quit a job without having another one lined up. I'm not going to bury the lede; how that decision eventually plays out is going to be determined by how prepared you are.

But first a quick aside... welcome back readers! Please take note this will be the last edition of Careers Unlocked under its current name. The newsletter will take a break over the holidays and return with the same career-themed content with new branding in January. Stay tuned...

Onwards!

Here's an un-scientific poll on where LinkedIn members land on the subject of if its a good idea to quit a job without having another one lined up.

There's a week to vote still, so go vote and influence the result if you like!

Here's the pros and cons for quitting without having something lined up. In any and all circumstances, Athens-based Tedx speaker, investor, writer and former COO at Citi Asia Ani Filipova says it is most important "...to really deeply think how will you live with the consequences of the 'against' arguments. And not only live with... but be in peace with these consequences."

? Pros

I've quit jobs before without having something else lined up. It is actually a really difficult decision to make and the handful of times I've done it, it was because my personal circumstances dictated it was the best choice.

Did it always work out as hoped? Nope. And I don't think one can ever expect with any certainty that a new job can easily be landed. There's no such thing as 100% success rate in the job hunt.

But there are cases where the industry you're in, the job market and your financial cushion can swing things heavily in your favor towards finding a new job after you quit your current one.

If these stars all align, then quitting even without a new job secured has the potential benefits of:

Improving your mental health: At least IF you're not putting yourself in a situation where quitting would put more strain on your mental health. As Florida-based LinkedIn member and self-employed writer Eboni N. Ross comments , "...sometimes the work environment can be so toxic that self-preservation is the name of the game."

Even Prince Harry has said , "Many people around the world have been stuck in jobs that didn’t bring them joy, and now they’re putting their mental health and happiness first. This is something to be celebrated.”

I mean, yeah, OK thanks Prince Harry for the Royal perspective on mental health and quitting a job, I guess.

Forbes coach council and executive coach Chuen Chuen Yeo doubles down on the importance of mental health and comments, "If your mental health is at stake, then I think it's worth leaving without a job since there's no price to your sanity."

Still, Chuen Chuen says if a lack of a sufficient safety net would make your mental health worse by quitting, then maybe consider not leaving without a job and exploring something less permanent like no pay leave (maybe all you need is a detox and break), a reduced job scope or a switch to another role that's better suited if available.

Allowing for a dedicated job search: Having a dedicated time to explore finding a new role can lead to a new position aligned with exactly what you want to be doing with your career, or maybe even a better pay rate. Filipova makes a great point by saying, "When you plan your move you have absolutely no idea about the opportunities you might find once you have 9 free hours in the day - it would be better than expected."

Providing an opportunity to pursue self employment: This can really vary depending on the stage of your career, but for those interested in exploring going it alone and being their own boss, if you've got a small side hustle going already, this is the opportunity to expand it and see where you can take it.

Singapore-based Diversity & Inclusion manager at Include and career coach Angel Kilian says it depends on the situation and that having enough savings is really key but, "In an ideal world, we would have a clear mind and the next job lined up. But taking a break and evaluating our options before planning our next move pays excellent rewards too!"

? Cons

Are you really prepared?

There's more cons, hence the headline choice. There's always been this romantic notion of quitting a job you dislike in a flurry of "I'm mad as hell and I'm not gonna take it anymore!" while storming out of a meeting room. Though nowadays it would be a Zoom call and would lose some of the impact. I mean, are you going to storm out of your own house or...?

I've done that once early in my career where I was like,

It was in 2008 during that lovely time of The Great Recession.

It took me eight months to find a new job and I had to live with my (awesome and lovely) grandmother.

That was a hard lesson.

The upside was the job I eventually landed changed my career trajectory and set me on the path I'm on now. In the end it worked out, but oh boy it was tough times there for a while!

Job security

We're also living in a time where job security is a very fleeting notion because of the pandemic. Entire industries were decimated and some have only recently started to come back.

Are you quitting a job that's decently secure? Really, really think about the ramifications of quitting a secure job if you've got nothing else lined up.

Living situation

This is a great point by Singapore-based Creative Solutions & Customer Success Head at Ink Mrigaa Sethi . She comments that for those living and working overseas, quitting a job without having something else ready to go could mean having to leave the country and an extreme personal and career shakeup. And if you don't want to leave the country you're living in as a guest, well that's a problem.

Financial and familial safety net

Do you have one? Are you the head of the household and main source of income? How long will your money last if you've got no new money coming in? A month? six months? A year? You absolutely must know and understand what you've got banked and what you're willing to lose.

Would you lose all your savings in 6 months to get a job? What happens if it does run out? Do you have family that would take you and yours in for a while? Could they support you?

No matter how confident you may be about your prospects, I personally would strongly advise against leaving a job without something else lined up if you don't have a sufficient safety net or enough family support to last a while.

Hong Kong-based financial risk consultant Tim Alvner really drives this point home, "I've gotten rehired after less than a week, and had a year-long gap. Net-net, leaving without a next harbor is not something I would want to do again, especially if I couldn't support myself for 6+ months."

Really can't stress enough that a financial or family safety net should be a major factor in determining if you should even remotely entertain the notion of quitting without something else on the ready.

? Some excellent advice ??

A great tip from Colorado-based career coach and job search specialist Katelyn Richards is to find a low key, low pressure, low commitment job to basically fund your new job search. Katelyn says she, "...knew a job seeker who simply found a job working at Home Depot for the time being while he got clear on what he really wanted in his career. It gave him the time and flexibility he needed for an efficient and effective job search experience to land him where he really wanted to be!"

Ohio-based author and career coach Sarah Moore comments that what she has learned is there are always red flags. "If I ignore them (red flags) that raises the likelihood of needing to quit with nothing to go to."

So if you know what those red flags are early and what to look for, you can better set yourself up to secure something before you reach some kind of breaking point and have to leave.

What kind of red flags you ask? Well, if you're being sexually harassed or suspect your company is committing fraud , those are kinda legit reasons to get the heck outta there as quickly as possible.

? PLAN your EXIT

New Delhi-based executive coach and career development pro Neha Parashar shared that regardless of whether you leave before finding another job or plan to find one while still on the job, that its a good idea to follow the P.L.A.N. E.X.I.T. strategy .

P - Prepare for job search while still in the job. CV, cover letter, applications...do whatever that can be done while you are still being paid.

L - Legal. Check legal implications like notice period, terms of employment, work permit validity.

A - Activate your network (but discreetly).

N - Nest egg. Check your finances, bring down discretionary expenses. Having a long $$ runway gives you tremendous confidence and freedom of choice.

E - Edge. Can you do anything now that may give you an Edge later? For eg- It may be easier to attend networking events, with your current title backing you. Or can you enroll for a course to build skills.

X - Prohibited. Burning bridges. you may need these people.

I - Insurance. No elaboration required.

T - Time your exit well, especially if a bonus is coming up, or stocks vesting soon.

Neha is spot on, as usual. This really is excellent advice. Nearly all of the above are applicable regardless of whether you're actively looking for a different role or not.

???? If you're always prepared even if you love your current job, then you'll rarely find yourself in a position where you feel as though you're making a poor decision when the time comes, regardless of whether or not you're leaving with or without something else in the cards.

?? Have some advice on how to handle leaving without having another job lined up? Share it in the comments and lets help each other out for those times when we end up being the ones facing down a life or career defining decision like this.