Leaving my job without a job offer? Am I crazy?
I'm currently a Senior Associate at a big REIT in NYC making decent money (not great but decent). I'm originally from Asia and want to go back to Asia to be closer to family/parents/relatives. I'm also in a long distance relationship with my girlfriend and she doesn't want to do that anymore. I want to move back so we can think about getting married/starting family (she doesn't want to be in the US). I've been trying to find a job in Hongkong/Singapore (Asia finance hubs) for the past few months but no result yet. Market absolutely sucks even for Singaporean or Hongkongnese, espscially for Real Estate. I've been applying and networking like crazy but barely getting any interview (I even got rejected from Analyst level positions). Anyway, I plan on quitting after my bonus pays out in March and then take a few months off to travel (I always wanted to go to Africa so I'd prob do that for a month). After that I'll move back to Asia and keep job hunting. I have heard scary stories of people 12 months out of a job though, even with stellar resume and experience (Yes market is that bad across the globe). Am I crazy to leave a good/stable job without an offer in place?
Keep your job before getting a new job at all costs.
I really want to take a 1-2 month from my current job. Any suggestion in that situation?
Get a new job and put a gap until when you start of 1-2mo.
If the market sucks with a job why wouldn’t it be markedly worse without one?
I don't disagree. I just don't want to be at the current job anymore and I want to move back to Asia ASAP
It would be a bad move to quit with nothing lined up. I get that it sucks, but how bad would being unemployed for a year and blowing through savings suck or having to take a major downgrade in position?
IMO it ultimately comes down to how much you saved up (e.g. will you panic if you haven't found a job in a year of searching).
While it is true that the job market sucks, people can have wildly different experiences in job hunting. It's often very luck based. From anecdotal experience, Senior Associate/VP level takes about 6 - 12 months of finding a job assuming they have no job (know this from 5-6 people in IB/PE that were laid off or quit). Never ever heard of anyone at that level not being able to find something. It's usually the older folks that struggle to find employment cause of ageism.
If you are in a good spot financially with lots of money saved up, I'd recommend leaving post bonus and then traveling/relocating. It's a life experience and honestly you don't get to experience it many times once you start working again.
Thanks for the advice. You're one of the rare ones that recommend leaving. All my friends/family think I'm delusional, which I completely understand.
It's good to get peoples' opinions, but it's your life and ultimately your decision. You have to get comfortable with whatever decision you make and do what's best for you.
bump
If your family is not wealthy enough to cover all your expenses for a few years it’s a risky venture. Stress from job hunting is a real thing and I’ve seen some of my peers have to go back to grad school after doing this. Almost everyone in that spot had some sort of family assistance to fall back on.
My family is not super wealthy but we're pretty comfortable. Can live with parents and practically have no expense. The biggest thing I'm worried about is the gap on my resume. If I'm out of a job for too long, that'd be hard to explain.
APAC is slow right now. best to look before you jump
Are you in APAC?
bump
After the January job report, yes it is (and I've seen a handful of documentaries these past few years which makes APAC's job market look far worse). Keep your job, job search aggressively. Hopefully land somewhere.
In a similar boat in the sense that I want to find a new job but I found ways to compromise. Since the job search will likely take months maybe up to a year, I networked internally to finally get on an interesting client project (long term strategy project which is rare at my firm, we mostly do heavy implementation).
Maybe try to find work you like internally or can tolerate (like I did) at your firm in the mean time?
my firm just doesn't have an APAC presence
Yeah I feel you on that but it's still a compromise.
I still have peers landing solid jobs nowadays but all of them already had jobs while job searching (recent ex: corporate strategy at a PE backed portco, was a post MBA consultant before making the switch).
Those who are unemployed and searching are having a much tougher time. Many of them were unemployed for at least 3-4 months before landing something (and in some cases, a lower paying / lower title role). But of course this may vary if you're okay with taking a pay cut / lower title to switch into a space you want to work in. I'm willing to take at most, a ~10% paycut at this point if I get to work in an ideal function / role.
If you do want a job in Asia, I would think that being in Asia would be a benefit. Employers in Asia would probably have more interest in you because they do not have to worry about you relocating. If you are interviewing while in the US, they may not be convinced that you will move, so why would they waste their time with you. it sounds like you would have a support network in Asia, so even if you could not find a job right away, you may not have to worry about money. The downside is that is is usually easier to get a job while you are employed and you have more leverage. Good luck to you.
Quia facere quibusdam asperiores laboriosam aperiam occaecati. Quo quo dolorem ea maiores ut veritatis. Similique dolore quaerat voluptatem et distinctio rerum molestiae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Officiis eius ut voluptatem qui doloribus quis quia. Assumenda aut dolores id deserunt numquam facere nisi. Ducimus magnam et nihil dolor.
Omnis vel id debitis suscipit quia maxime id. In dolor rerum et voluptas atque. Aut placeat deserunt asperiores repellendus.
Sed enim in soluta dolorum reiciendis voluptas. Ut vitae voluptas in. Laboriosam quia eos ducimus voluptatem. Dolores ipsa occaecati aliquid labore possimus occaecati laboriosam. Qui voluptatum laboriosam nam et et. Dolor atque ea dolor velit blanditiis magni.