I currently have a good old fashioned, nine to five desk job. I do not like it very much. Surprise! The guy who started a blog called “Can I Quit Yet?” doesn’t like his job. Big shock, right?
Obviously the ultimate goal is early retirement. With a tip of the top hat to Mr. Money Mustache, and others like him, I am aware this is possible. But this is one of those goals that is simple, but difficult. Simple because the formula is straightforward: maximize your savings by minimizing your expenses and/or increasing your income. But saying “minimizing your expenses” is one thing and actually doing it is another. There are lots of areas where the average family can trim the fat and live more cheaply; I’ll get to a lot of those in future posts (or go back and follow that Mr. Money Mustache link… seriously, he’s great) but in my case there was a pretty obvious elephant in the room, and that is our mortgage. We have one, and it’s kinda big. And I know we can do lots to chip away at that mortgage and pay it down faster but it’s going to take a little time. What it all boils down to is this: for now, I gotta keep working. It’s the only way we’re going to reduce and ultimately eliminate that mortgage so we can live more cheaply and achieve financial independence.
So I have established that I have to work, but I don’t like my current job. So the simple solution is of course to try and find another job. Well that’s proving to be a little difficult. To explain why, allow me first to explain how I got here.
I have always felt there are three things that make a job good, or worth having. 1) Interesting or fulfilling work; 2) Good pay; and 3) Good people.
Interesting or fulfilling work – In the simplest of terms, do you enjoy what you do? Are you spending your working hours doing the type of work you enjoy, or that motivates you? This is the big one for most people, and according to a lot of the stuff I have been reading lately about millennials and “kids these days” it’s more commonly becoming the most important factor. This of course makes sense because if you’re spending approximately eight hours a day doing a thing, it’s best that you enjoy doing that thing. Of course in many ways it’s also a first world problem, as the opposing viewpoint is that work is work, a job is a job, we all need to make money, so suck it up buttercup quit your whining and be thankful for your paycheque. Fair enough. That’s why I personally see it as only one of three major factors to job fulfillment.
Good pay – This one is a bit obvious to me. The pay is the main reason why most of us are working in the first place. Is money everything? Of course not. But to think of things a different way, if you’re working a job and finding that the pay just isn’t enough, that you’re struggling to get by and barely making it to your next paycheque, don’t you at that point start to consider looking for a new job? I figure for a lot of people the answer to that question is yes. On the flip side, if you’re working a job that isn’t necessarily your dream job but the money is good, you’re likely to stick around a bit longer than you otherwise might. I know that for me at least this is true.
Good people – For anyone who has ever worked a job where they had serious issues with their coworkers or managers, they’re likely reading this and nodding their heads vigorously. At the same time, a boring job with great coworkers can easily become a pretty good job. I find that if I like the people I work with, I like the job a lot more. It really can make all the difference, especially when you consider the fact that a lot of people spend more time with their coworkers than their families. If you don’t believe me ask yourself a few questions: How many hours do you sleep on the average night? How about your family members? Are you at home the same time as the rest of your family? Do you and the rest of your family ever do things separately? Do the math and then let me know if you think you spend more time with your spouse or the person you sit next to at work.
So those are the three things. In my estimation, if you have all three of those things in your job, then you’re laughing. Good for you! You’re probably in no hurry to retire early and therefore most likely not reading this right now. If you have two out of those three things, then you’re probably still pretty content. But if you have only one out of three… well if you’re like me, then at that point you’re probably starting to at least browse job ads. If you’re oh-for-three, well then I’d wager you’re not very happy about things and maybe doing more than just browsing job ads. And if you’re not, maybe you’re thinking about it. Maybe you should?
So that’s our scorecard. Now let’s see how I am doing based on these criteria.
Interesting work? Not so much. When I was first hired, I was brought in to help on a project that I thought was very interesting. Unfortunately, that project met an untimely death about six months into my jew job. After that happened, I was brought onto a project that was way behind schedule and needed help. It was in serious trouble and needed people. I never really cared too much for the project, nor did I have much in the way of expertise going in. In addition, the people in charge didn’t need or want the kind of help I like providing. I’m more of a big picture guy, who thrives in strategy, planning, and problem solving. I like to be invested, to have skin in the game. The role I was tasked to play on this project is basically that of a grunt; do what you’re told and let the adults in the room make the tough decisions. I was okay with helping out when help was needed, but now it’s been over five years. This project is still a going concern and I’m still stuck in it, not making what I consider to be any meaningful contributions. It’s definitely not doing my career any favours, unless I want to keep doing what I’m doing forever, and I don’t.
Good pay? Well this one is tricky… When I first started this job I was able to negotiate a salary that was a significant jump for me, compared to my last job. Part of the reason was due to the new job being in the big city as opposed to a smaller one, and that usually means a jump in money for reasons outlined in my last post. Another part of the reason was probably due to the fact that I was moving along in my career, now a more experienced hire, and the fact remains that a jump in salary is often the reason why people decide to switch jobs in the first place. When I made the switch, I was pretty happy about the money. Well it’s now over six years later. How many raises have I earned in that time? Zero. As I already hinted at, I’m not exactly in a role where I’m able to thrive and have a real impact, so there have been no performance-based raises or promotions. There also haven’t been any inflation-based or cost-of-living-based adjustments either. It’s become pretty obvious to me that pay increases at my current job just don’t really seem to happen very often at all. Do I think I’m entitled to the occasional raise? Well, no, not necessarily. But the fact remains that even if inflation over the past 6+ years has only been in the 1-2% range, a dollar earned today is worth less than it was 6 years ago. It doesn’t go as far. Plus when I started this job I was a freewheeling bachelor. Now I have a family to provide for and that family is growing. So if my pay hasn’t changed, but a dollar is worth less today, then in real terms, I’m actually earning less today than I was when I started. Let me be clear: I know that I am fortunate, that I do earn a very decent salary, and that I realize there are a great many people out there who are worse off than I am. But my goal in life is to get ahead, so that one day I can retire and have more time with my family. Right now it’s fair to say I’m not moving ahead.
Good people? At one point, I definitely would have said yes. Emphatically. I do work with some great people who I consider friends and not just work friends. The people were, and still are the best thing about my job. But I’m afraid the situation there has deteriorated somewhat as well. When I first started in this job, our team would go out to lunch on a daily basis. We would have after-work drinks almost as frequently. So what happened? Well, my life and priorities changed. The daily lunches were getting expensive, so I started brown-bagging. The after work drinks all but stopped too. When I was a local bachelor, they were fun and easy. Now, I think twice about spending too much on beer. Plus, living in the ‘burbs means I’m a commuter, and even staying for a single drink often means putting me on a much later train which means potentially not seeing my daughter before she goes to bed. It seems a much bigger sacrifice, because I actually really like my family and spending time with them. Some work friends have left the company and moved on to other things. But unfortunately my unhappiness with my job has affected some of my work relationships. My frustrations with my role and career have caused some resentment toward some of my superiors who I used to think of as friends. It’s a huge bummer.
When I started in this job, I was excited about the work, ecstatic about my coworkers, and happy to be earning more than I was before. When the work became less interesting I told myself that at least it was an easy job and I was still working with great people and better off than I was. That’s probably why I stuck around as long as I did. But before I knew it, years had passed, I was bored, frustrated about my stagnant career, losing hope for future progress, and then working with good people just wasn’t enough. On my three-point scale, I was barely scoring a 1/3. Just barely. Time to move on.
So now what? How do I fix things? What’s my game plan?
I’ll save that for next time.