The next big trend: quitting

[wabmester]

At 28, John Doyle was an overworked New York investment banker on the fast track. By most measures, he was a success. But he was also miserable. So during a semiannual review 2 1/2 years into the job, he simply quit. "Almost immediately I lost 35 pounds," says Doyle. For four months, he did little more than relax, rollerblade through Central Park, and read books. "Honestly, it was one of the happiest times in my life," he says.

http://story.news.yahoo.com/news?tmpl=story&cid=926&e=3&u=/usnews/waystofixyourlifequityourjob

 

[John Galt]

Good morning wab and all (hey wab, still on the diet )

I am kind of an expert on quitting having done it many times until I quit for good in 1998. I know nothing about John Doyle, but his experience sounds like mine.
Over my long career, I quit precipitously or was fired
summarily 3 times (once I was CFO and the other 2 times CEO/Pres.). By this I mean at the time of the "split" I had no particular place to go. I recall a
great sense of relief/euphoria in every case. My final
exit from the workplace was pleasant enough, but not
so sudden, and I was not leaving a distasteful
situation.

JG

 

[Nords]

Paralyzed by uncertainty & obligations...

"Those with responsibilities like mortgages, spouses, and children don't have the same luxury, of course." The author kinda skips over the details of dealing with this part...

I think the key to bad job situations is avoiding them in the first place or escaping them as soon as you quantify the problem. Presumably people used to be excited about their jobs before they flamed out. It's a challenge to recognize when a fascinating prospective job is actually a living hell, or identifying the point when a current employer turns bad, or when your life priorities change (like starting a family). Don't get me wrong, I've failed at identifying all three of the above situations-- and their opportunities as well.

The article also unintentionally emphasizes an outdated expectation that our continued employment is at our will, not our employer's. Experienced landlords plan for vacancies of a month or two every year-- why don't employees prepare to be unemployed every few years?

A recent study on high tech salaries during the '90s hypothesized that they also carried a high risk premium that wasn't recognized until the '90s were over. When the risk premium was factored in, wages weren't much out of line with the averages. No doubt that was scant comfort when the pink slips started raining down, and I bet that very few saved the "above-average" portion of their salaries to compensate for the unemployment risk.

 

[John Galt]

The first time I just up and quit was in 1976. My employer and friends couldn't believe it. I was CFO
for a very successful company started by 2 of my close
business associates. I was 31, with a big salary,
company car, lots of bennies. But, I was very unhappy
so I just left. At the time we lived in a big house with
a big mortgage. I had a wife (non-working), 2 kids,
a car payment (wife's car), credit card debt, all of the usual. Even at that tender age I knew that the time I
was spending on the job was not replaceable.
The money and prestige were much less important to me.
I understand the angst people have about "pulling the trigger". I never felt it.

JG

 

[Spanky]

"...According to Ron Manheimer, director of the North Carolina Center for Creative Retirement at the University of North Carolina-Asheville, 30 percent of men and 11 percent of women go back to work after retiring. Some return out of boredom, others to pursue a long-held dream, and yet others out of financial necessity.."

Wow! 30 percent wants to return to work. This seems that they are prepared to retirement or simply they do not a hobby or plan.

Anyway, I really enjoy this article.

 

[Spanky]

Re: Paralyzed by uncertainty & obligations...

I think "permenent" ot steady employment with an employer is a thing of the past. An employer will try every means to reduce cost (i.e., workforce reduction, outsourcing...etc) as an attempt to boost the bottomline for the shareholders and management.

Another trend is acqusition or merger. Many people will lose their jobs, i.e., when Oracle takes over PeopleSoft -- 6000 jobs will be gone.