Banking is a highly sought after career for many motivated and passionate fresh graduates across the globe today. It is hard for them to imagine why anyone would want to leave this monetarily attractive career when everyone else is fighting for a job offer. In this ever changing world, nothing stays a bed of roses and leaving your job does not equate being a failure. There are times you need to call it quits.
When money is all that’s left, and it no longer holds the appeal it once did
It is inevitable that people become jaded after working for years in the banking industry. You’re attracted by the monetary reward initially. Then comes a day when money no longer motivates you. Maybe you have had enough of it? Or you might have a moment of epiphany that money just isn’t as important as what society made it out to be.
The reasons are not important – you no longer enjoy your job. The long hours of work that translate to money you no longer value will make you feel unappreciated and unfairly compensated. This is the biggest sign. The choice is obvious. It is time to quit.
No sign of promotion and you are only motivated by money
You may also experience the opposite. In this era of small bonuses, salaries become increasingly important. Money is your motivation, however, you have reached the highest position in your area of expertise. The only way to get a higher remuneration is to earn a bigger job title. Internal promotion is almost impossible in your case. It might be a wiser choice to move to a bigger company with more promotion opportunities.
Before you quit, make sure you plan for an exit strategy. With your high performance and experience in your field of expertise, looking for a suitable job with a higher salary will be an easy task.
That is not your definition of success
As a fresh graduate, you imagined your ideal life to be having a high earning job, owning a car and house and travelling to different countries frequently. Entering the banking industry feels like a dream come true. However, over time, you realize your experiences re-defined your notion of success.
In the process of finding your way in this fast moving, time sensitive industry, you might realise that all the milestones you have set for yourself, is not your definition of success. The realisation might only come after you have achieved them, and you realise your sense of satisfaction is not as tantalising as you thought it will be. To rediscover your purpose, it is best you leave your job to experience something new.
When that nagging feeling of quitting infringes your life
Motivation is inconsistent. On good days, you feel motivated to get your work done. On other days, you just can’t wait for the day to be over. Many bankers are able to grind through days of complete disorientation and low motivation because of the high rewards. That’s fine, not a good enough sign to quit your banking job just yet. Everyone has bad days, sometimes even for weeks or months. Hang in there a little longer just to make sure you are sure of how you feel about your banking job.
Imagine waking up in the morning dreading work. We are not talking about Monday blues, but that constant feeling of wanting to be somewhere else, doing something else instead. You’re speaking to a potential client that can bring in tens of thousands in commission, but you can only think of your next holiday that is going to happen in another five months. Your productivity is decreasing because you are so distracted about things besides work. If you’re experiencing this on a daily basis, it is time to quit.
It can be frustrating losing motivation for your job, especially in such a competitive industry like banking but don’t get overly emotional and quit immediately. Always make sure you have an exit strategy before quitting. After years of long hours and high levels of stress, you might want to take some time off to rest before starting on your new direction.
As bankers still garner respect and receive high level of respect from people across all industries, the reluctance to quit is strong but hanging on just because of the money and status can be a torturous journey. If you are still unsure, there are many stories out there of ex-bankers who quit, and started a more fulfilling life then after. After all, you are in control of how you want to feel about your life.