Stay in easy (but volatile) WFH gig? Or be proactive about my future?
Stay in easy (but volatile) WFH gig? Or be proactive about my future?
Some background: Two years ago I left my job at a traditional company to work for a startup making almost 60% more money. Along with the money, the job is fully remote whereas my previous job had a sometimes brutal commute and I would need to switch my working location to a new jobsite every couple years. It was quite literally an offer I could not refuse.
Fast forward to now. It's been two years at the company and I've now been the survivor of 4 rounds of layoffs. The most recent one that occurred last week was approximately 40% of my branch in the company. This layoff round was caused by the current fundraise our CEO is doing and was part of the terms required by investors. The fundraise round that's about to close will give us runway through 2025. My personal outlook on the company is not good. I don't believe our product offering will gain traction in the market in any sort of meaningful way.
My question is, how proactive or aggressive should I be on finding a new job? On one hand, I don't want to be caught in the next round of un-expected layoffs with little to no severance. I don't find that I'm fostering growth of my professional skills or experience in my current role. On the other hand, my job is quite frankly very easy and I bring in $120k. Sometimes the work load is so light I can quite literally go play a round of golf in the middle of the week. I'm fairly confident I could land a role making similar money, but likely not the fully remote flexibility.
Other info: I've got a family and our 2nd kid is due in November. Wife works at a much more stable job and also makes good money. I've got unlimited PTO at my current role. I'm wondering if I postpone the aggressive search until November, so that I can take 3 or 4 weeks off at my current job rather than immediately taking a long time off after starting a new job.
Fast forward to now. It's been two years at the company and I've now been the survivor of 4 rounds of layoffs. The most recent one that occurred last week was approximately 40% of my branch in the company. This layoff round was caused by the current fundraise our CEO is doing and was part of the terms required by investors. The fundraise round that's about to close will give us runway through 2025. My personal outlook on the company is not good. I don't believe our product offering will gain traction in the market in any sort of meaningful way.
My question is, how proactive or aggressive should I be on finding a new job? On one hand, I don't want to be caught in the next round of un-expected layoffs with little to no severance. I don't find that I'm fostering growth of my professional skills or experience in my current role. On the other hand, my job is quite frankly very easy and I bring in $120k. Sometimes the work load is so light I can quite literally go play a round of golf in the middle of the week. I'm fairly confident I could land a role making similar money, but likely not the fully remote flexibility.
Other info: I've got a family and our 2nd kid is due in November. Wife works at a much more stable job and also makes good money. I've got unlimited PTO at my current role. I'm wondering if I postpone the aggressive search until November, so that I can take 3 or 4 weeks off at my current job rather than immediately taking a long time off after starting a new job.
- Pizza_and_Beer
- Posts: 86
- Joined: Wed Aug 29, 2018 3:23 pm
- Location: Brooklyn, NY
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
I was in the exact same position as you earlier this year. The startup I worked for went through multiple rounds of layoffs starting in late 2022. My gut told me my days were numbered and sure enough they were as I got the pink slip in February this year.
It sounds to me you know your days are numbered as well so I'd start the process of putting yourself out there and looking for a new role. You want to be looking while you're still working, not when you are unemployed. You can afford to be selective currently and wait for the right job.
It sounds to me you know your days are numbered as well so I'd start the process of putting yourself out there and looking for a new role. You want to be looking while you're still working, not when you are unemployed. You can afford to be selective currently and wait for the right job.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
In my opinion, you need to be looking for a job now. If you find something that works for you, you'll be able to negotiate a start date, or some time off with your new baby on the way.
it's way harder to find a job when you don't have one. If you get let go, it may be a while before you find something, and you might need to take something you don't like.
also, just getting in the groove of interviewing will be helpful. You'll likely need to interview with multiple companies before you find something that fits. Having interview experience will allow you to land the right job and negotiate the things you need. my last job search took about a year. I interviewed with 15-20 companies and had 75 interviews overall before I landed on what I felt was the best opportunity.
it's way harder to find a job when you don't have one. If you get let go, it may be a while before you find something, and you might need to take something you don't like.
also, just getting in the groove of interviewing will be helpful. You'll likely need to interview with multiple companies before you find something that fits. Having interview experience will allow you to land the right job and negotiate the things you need. my last job search took about a year. I interviewed with 15-20 companies and had 75 interviews overall before I landed on what I felt was the best opportunity.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
It all depends if you can break 80 yet or not. If so, I would start looking elsewhere. If you haven't broken 80 yet, keep the job so you can practice more.
Just kidding. I would definitely start looking elsewhere. I am in a similar role in the fact that my job is pretty stress free and remote, but I also have more stability than you do it sounds like, and it's a non-startup/more established company.
Good luck.
-
- Posts: 5586
- Joined: Thu Aug 09, 2012 10:54 am
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
Given the funding through 2025 I'd milk it until November and get that PTO. Use the short amounts of downtime while on PTO to polish up the resume and start looking.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
There's no reason to leave a job that's easy and pays well. I would recommend starting a side hustle (or even two) right now, and if and when you're laid off from your job, you can start searching for a new one, and will be able to stay afloat on the life raft provided by the side-hustle income.
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
-
- Posts: 5774
- Joined: Mon Sep 22, 2014 4:47 pm
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
> I don't find that I'm fostering growth of my professional skills or experience
Coasting when you are near retirement is one thing. Coasting when young and with a family is something else.
"He not busy bein' born is busy dyin'"
Coasting when you are near retirement is one thing. Coasting when young and with a family is something else.
"He not busy bein' born is busy dyin'"
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
I certainly agree in principle, but in practice if an organization is willing to pay you a lot to not do much, you'd be foolish, I think, to pass up that arrangement, especially if it's likely to end soon. One can still be busy being born via a side hustle--or even by working working two "full-time" jobs.adamthesmythe wrote: ↑Thu Jun 08, 2023 2:44 pm > I don't find that I'm fostering growth of my professional skills or experience
Coasting when you are near retirement is one thing. Coasting when young and with a family is something else.
"He not busy bein' born is busy dyin'"
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
-
- Posts: 3944
- Joined: Fri Dec 20, 2019 2:49 am
- Location: Upstate NY
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
The cost of long term security is constant insecurity. Minimize your maximum regret by pursuing further education and additional work / job skills on a regular basis. Store acorns while the sun is shining. There is a reason why the dinosaurs are extinct even though they ruled the planet at one time.
I think you get the idea … from a guy at age 62 who had a great gig #1 that allowed him to get a woke paid for MBA then was able to get gig #2 because of MBA then he could work as long as he wanted there … many buddies went thru many jobs because they weren’t willing to do the work for gig #1 or #2. Of course some luck and health were involved in both gigs. Luck is where preparation meets opportunity as my 9th grade teacher Morgan Wooten at St John Dematha used to say. He also said That’s the way the ball bounces depends on the type of ball, how it is spinning, how it is thrown, the surface and angle it hits the ground. Control what you can control. Don’t fall into the trap of being a victim of the world. Good luck and post back here when you go on to acheive all your goals.
I think you get the idea … from a guy at age 62 who had a great gig #1 that allowed him to get a woke paid for MBA then was able to get gig #2 because of MBA then he could work as long as he wanted there … many buddies went thru many jobs because they weren’t willing to do the work for gig #1 or #2. Of course some luck and health were involved in both gigs. Luck is where preparation meets opportunity as my 9th grade teacher Morgan Wooten at St John Dematha used to say. He also said That’s the way the ball bounces depends on the type of ball, how it is spinning, how it is thrown, the surface and angle it hits the ground. Control what you can control. Don’t fall into the trap of being a victim of the world. Good luck and post back here when you go on to acheive all your goals.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
Oh man. A startup paying 60% more, work load so low, no show at work, product gaining no traction, no professional growth, ...vgc303 wrote: ↑Thu Jun 08, 2023 10:50 am Some background: Two years ago I left my job at a traditional company to work for a startup making almost 60% more money. Along with the money, the job is fully remote whereas my previous job had a sometimes brutal commute and I would need to switch my working location to a new jobsite every couple years. It was quite literally an offer I could not refuse.
Fast forward to now. It's been two years at the company and I've now been the survivor of 4 rounds of layoffs. The most recent one that occurred last week was approximately 40% of my branch in the company. This layoff round was caused by the current fundraise our CEO is doing and was part of the terms required by investors. The fundraise round that's about to close will give us runway through 2025. My personal outlook on the company is not good. I don't believe our product offering will gain traction in the market in any sort of meaningful way.
My question is, how proactive or aggressive should I be on finding a new job? On one hand, I don't want to be caught in the next round of un-expected layoffs with little to no severance. I don't find that I'm fostering growth of my professional skills or experience in my current role. On the other hand, my job is quite frankly very easy and I bring in $120k. Sometimes the work load is so light I can quite literally go play a round of golf in the middle of the week. I'm fairly confident I could land a role making similar money, but likely not the fully remote flexibility.
Other info: I've got a family and our 2nd kid is due in November. Wife works at a much more stable job and also makes good money. I've got unlimited PTO at my current role. I'm wondering if I postpone the aggressive search until November, so that I can take 3 or 4 weeks off at my current job rather than immediately taking a long time off after starting a new job.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
If you are thoughtful enough to be on this forum then I recommend you look for a situation where you are not languishing.
It's certainly fun to be paid a lot and work a little, but it's not free. As you get older you will find that, as trite as it sounds, time is the most valuable currency.
Use the free time you have now to explore and prepare for future opportunities.
It's certainly fun to be paid a lot and work a little, but it's not free. As you get older you will find that, as trite as it sounds, time is the most valuable currency.
Use the free time you have now to explore and prepare for future opportunities.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
If you are thoughtful enough to be on this forum then I recommend you look for a situation where you are not languishing.
It's certainly fun to be paid a lot and work a little, but it's not free. As you get older you will find that, as trite as it sounds, time is the most valuable currency.
Use the free time you have now to explore and prepare for future opportunities.
It's certainly fun to be paid a lot and work a little, but it's not free. As you get older you will find that, as trite as it sounds, time is the most valuable currency.
Use the free time you have now to explore and prepare for future opportunities.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
Immediately start looking for new work. The best time to find a job is when you have a job. $120k jobs don’t grow on trees and you don’t want to be in a position where you’d have to take a step back in comp. Best case scenario you find a better paying role. Worst case scenario you find out you can’t make what you make elsewhere.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
Layoffs even if not laid off should be a kick in the behind to brush up resume and job hunt. You are not desperate but should be job hunting. It takes time to find a fantastic job and you need to start looking for it.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
???Parkinglotracer wrote: ↑Thu Jun 08, 2023 3:43 pm The cost of long term security is constant insecurity. Minimize your maximum regret by pursuing further education and additional work / job skills on a regular basis. Store acorns while the sun is shining. There is a reason why the dinosaurs are extinct even though they ruled the planet at one time.
This seems highly unfair to dinosaurs.
They went extinct before oak trees even evolved.
How were they supposed to store acorns when acorns didn't exist yet?
Global stocks, IG/HY bonds, gold & digital assets at market weights 75% / 19% / 6% || LMP: TIPS ladder
-
- Posts: 3944
- Joined: Fri Dec 20, 2019 2:49 am
- Location: Upstate NY
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
watchnerd wrote: ↑Fri Jun 09, 2023 6:20 am???Parkinglotracer wrote: ↑Thu Jun 08, 2023 3:43 pm The cost of long term security is constant insecurity. Minimize your maximum regret by pursuing further education and additional work / job skills on a regular basis. Store acorns while the sun is shining. There is a reason why the dinosaurs are extinct even though they ruled the planet at one time.
This seems highly unfair to dinosaurs.
They went extinct before oak trees even evolved.
How were they supposed to store acorns when acorns didn't exist yet?
Ha ha - good point. Their failure to adapt may have been out of their short little stubby hands indeed. One can only control what one can control. Just don’t go thru life fat, dumb, and happy playing golf at work while lying awake at night wondering if their future income is at jeopardy. In the movie the dinosaurs hit the road and found the green valley!!
- DeliberateDonkey
- Posts: 251
- Joined: Fri Dec 24, 2021 9:41 am
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
I would not leave the position you are in. While you may be more likely to get an offer while employed, it is a heck of a lot easier to interview while unemployed, and job hunting is often a numbers game. I would also say that a longer tenure at your previous employer (unless 10+ years) is always beneficial. Oh, and you are in a position that many workers with grueling commutes, overbearing managers, and crushing workloads would pretty much die for, regardless of whether they are "fostering growth of [their] professional skills."
If you truly have lots of free time at your job and are not being challenged, that's great: Use the time for training/enrichment, rather than golfing. It's beneficial for both you and your current employer. No future interviewer is going to know (or care) how much you sweat at your prior job, only the skills you convey and can back up.
If you truly have lots of free time at your job and are not being challenged, that's great: Use the time for training/enrichment, rather than golfing. It's beneficial for both you and your current employer. No future interviewer is going to know (or care) how much you sweat at your prior job, only the skills you convey and can back up.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
Since leaving megacorp and going back to startup world, I no longer have to commute.
So I bought a new house by the sea.
Being able to look at the sea from my home office, and walk our beach during lunch breaks, is priceless.
So I bought a new house by the sea.
Being able to look at the sea from my home office, and walk our beach during lunch breaks, is priceless.
Global stocks, IG/HY bonds, gold & digital assets at market weights 75% / 19% / 6% || LMP: TIPS ladder
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
If you survived that many layoff rounds then seems you will employed until at November. So no need to jump immediately. It is kinda nice having a cush schedule with young kids so that is one benefit. If you have little confidence in the company then I would leverage your experience and current salary into a new opportunity.
Use the current downtime to brush up on any skills/training and start some interviews. This will get you into job hunt mode and hopefully everything gets times well by end of year.
Use the current downtime to brush up on any skills/training and start some interviews. This will get you into job hunt mode and hopefully everything gets times well by end of year.
Re: Stay in easy (but volatile) WFH gig? Or be proactive about my future?
I think it depends on what OP considers their prospects for new employment should they get laid off.
I was in a very similar situation at a start up that was going through layoffs. It was a different time (the 90s). The problem was that new jobs were not plentiful, and people from my startup were competing for the new jobs in my local market. WFH remote was not a thing yet. So I decided to go ahead and not wait for the next layoff and get the new job sooner than later. I turned out the startup failed and the people left were competing in a difficult job market. I even interviewed some of them.
This may not apply to OP's case, especially if OP thinks the next job could still be a remote WFH gig. Just something to consider.
I was in a very similar situation at a start up that was going through layoffs. It was a different time (the 90s). The problem was that new jobs were not plentiful, and people from my startup were competing for the new jobs in my local market. WFH remote was not a thing yet. So I decided to go ahead and not wait for the next layoff and get the new job sooner than later. I turned out the startup failed and the people left were competing in a difficult job market. I even interviewed some of them.
This may not apply to OP's case, especially if OP thinks the next job could still be a remote WFH gig. Just something to consider.