Being overly content might actually hinder your career progression. Every year, I get calls from headhunters and competitors offering me significant salary bumps to leave my current job. Yet, I always decline. I enjoy the camaraderie and believe in my firm’s future. But as my 10-year anniversary approaches, I’m beginning to question if my comfort is holding me back.
I once dodged a major bullet by declining an offer from a company that eventually went bankrupt. However, I often wonder about the other companies that approached me. Some of my peers who took new opportunities have significantly advanced their careers and earnings.
Is It Stubborn to Be Overly Content?
It’s disheartening that staying loyal can mean accepting a “loyalty discount” on your salary. Legendary UCLA basketball coach John Wooden never made more than $36,000 annually despite his tremendous success because he was content. Contrastingly, Nick Saban leveraged offers to boost his career and income, moving from LSU to the Miami Dolphins, and then to a lucrative contract with Alabama.
Work Loyalty Can Be Overrated
The days of working decades at one company are fading. Today’s dynamic job market offers more opportunities and demands greater agility. Loyalty doesn’t carry the weight it used to, and firms won’t hesitate to cut seasoned, higher-paid employees to reduce costs.
Wondering “What If”
One of my biggest fears is looking back and regretting not exploring other career possibilities. We only have one life to live, and it’s impossible to experience all potential paths. We owe it to ourselves and our families to pursue the best opportunities available, even if that means leaving a comfortable job.
If your current company underpays or mistreats you, it’s crucial to speak up. Staying silent can mean missing out on hundreds of thousands of dollars over the years, which could otherwise fund significant life goals like purchasing a home.
In essence, if you find yourself too comfortable in your position, it’s wise to periodically reassess your career trajectory. Don’t let complacency take root. Engage in regular, candid discussions about your career progression, especially during performance reviews. While it’s great to appreciate what you have, ensure you’re not being taken for granted.
If You Want to Quit Your Job
If you’re considering leaving a job that no longer fulfills you, think about negotiating a severance package rather than simply quitting. In 2012, I successfully negotiated a severance that not only provided immediate financial relief but also benefits like healthcare and deferred compensation, and eligibility for unemployment benefits.
Be Your Own Boss
I never imagined quitting my day job until I launched Financial Samurai during the financial crisis in 2009. This venture not only surpassed my passive income but also gave me a newfound freedom and satisfaction. If you have a passion for creating and connecting with others, starting your own online business could be a rewarding path.
Remember, loyalty should be a two-way street. If you’re too comfortable, it might be time to explore new horizons. Always be open to opportunities that could enhance your career and life.
