Taking Time Off
Vice President at RE debt shop. Feeling very burnt out lately and have been thinking of taking some real time off to recharge (6 to 12 months). This would obviously require leaving my current role and finding another down the road. Has anyone done something like this? How negative of an impact will this gap have on my resume when it comes to job searching. Thoughts?
You should secure your next job and then delay the start.
How many hours do you work in a week typically?
Yes, I have done this. I quit PE with nothing lined up (and dicked around / went to the beach / traveled / did a side gig for a couple months before starting the job search). It's not really a sabbatical since you're actually just unemployed lol but that's how I thought of it. For me, I wasn't looking to rejoin PE afterward and the fact that I had a buddy leave PE, dick around for a while, and then rejoin another decent PE firm 6 months later saying it wasn't hard gave me confidence to take time off and do something similar. The first couple months were pretty great but then at some point I realized I am a naturally lazy person and needed more structure to my life, so moved to a strategy/finance role at a growth stage company. What questions do you have?
For you, I would definitely wait until after things have normalized from COVID so you can take full advantage of travel, etc. Also try to have things planned out in advance, it's a little harder to be spontaneous because while you are free... no one else is. If you are thinking about taking less time off, you could also propose a shorter sabbatical if that might work for you too, especially if you were just promoted. The longer you take off, the higher the chance your next opp may restart you from your prior level, if that makes sense.
Wow U have serious balls quitting without anything lined up. That’s like my nightmare and would give me serious anxiety and stress
I have a feeling guys who do this are extremely well qualified. It’s relatively easy to get a strategy / finance role if you have a prestigious UG degree and did BB IB followed by UMM PE
I had that mindset at one point and then realized that I didn't need or want to sprint at top speed (career-wise) for the rest of my life, so I wasn't going back to PE anyway. Definitely not for everyone but it's OK to take breaks - you just need to have savings (for me, from working so much I didn't have time to spend money).
What's your anxiety and stress over? Just the unknown? Genuinely curious
I just quit with nothing else lined up. Everyone needs more balls. Life is too short to be miserable.
I think most people agree with that statement - but the risk is that you’re swapping misery now for more misery later (worse career options, lower pay, lack of structure from long term unemployment, etc)
Eh. I see your point but in my case, the misery of being stuck and not learning new skills is more dreading than just leaving and focusing on learning on the time you’re off. During COVID, I think most people have an excuse for gap time and why you currently aren’t employed. Many reasons to skim the cat such as couldn’t internally transfer etc. These aren’t normal times....
Why not ask your firm about taking time off (sabbatical)? If you have a good relationship with the leadership and this is a firm and career you are interested in long term it won’t hurt to ask (and if you are a good performer it is mutually beneficial). Firms are willing to be flexible for people they want to stay with them long term, and while they won’t want to allow everyone to do this, if you have been there for a while, etc it is something I’ve seen allowed.
If you hate the place or the career then obviously switching careers is a better path. If that is the case, it is much easier to find a job if you have one. So you may actually feel much better just by going to work somewhere else as opposed to taking time off, but I have no idea how you are actually feeling.
Things are still not totally normal yet, so I might suggest to hold off until you can do more things and really enjoy that recharge period. If you are not needing to go back into the office for another few months, try and move elsewhere to a short-term rental where you can do different things especially outdoor activities. I think it can help take your mind off work stress and let you enjoy something new. My other suggestion would be what another user said, which was take a leave of absence for a month or so. See how that works out.
Thinking about doing the same here. I really enjoy my job but I feel so burnt out at the moment and I haven't taken a real holiday for the past 3.5 years. I want to take some time off (for about a year) to reconnect with friends and family, and to travel with my significant other. I've asked around the firm but there really seems no other way than to quit and look for another job later. I guess that's the price I have to pay.
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