What is the best time to quit your job?
This question often lingers in the mind, “how long is too long?”. I think there are three factors that would define some one to take this call. These are
- Your salary index
- Your ability to contribute to business outcomes
- Learning opportunities.
I am keeping away things like boss, facilities, commute time, work life balance, great food, helpful colleagues, job security etc. Because these are external factors and you do not have much control.
Salary Index: I am not talking about your absolute salary or salary increment. Salary increment depends on many external factors as well. Salary index is, for a comparable job and comparable market how are you getting paid? How do you know this? There are sites like Glassdoor, Payscale, or on naukri. This will not be 100% accurate. But you get some sense. For example, for your experience, skills, in your industry and location, your peers are getting Rs. 10,00,000. But you are getting paid Rs. 9,00,000. Your index is 90%. If you are getting paid Rs. 12,00,000 (fist have some smile) and your index is 120%.
Your ability to contribute to business outcomes: Does your work directly contribute to business outcomes like revenue, profit, customer satisfaction, operational efficiency etc. A simple question to answer, if you do not do the current project or product what is the impact? If you get the answer as no impact or very less impact - rest assured, you are not contributing to business outcome.
Learning Opportunities: Are you learning new things on the job? Are you excited to go to office daily? Usually, learning brings automatic excitement to go to work. Do you get some time to learn something new each day (if not on the job)?
What you learnt so far got you where you are now. But new learning can only take you to your next career goal.