You are fed up with your current place. But you do not have a job in hand. Should you resign anyway and then start to look for a job?
There is usually a stigma attached to a candidate who jumps without a job in hand. Was he fired? Is he such a strawberry that he’d quit at the first sign of hardship?
On the other hand, you have an advantage for jobs which require the candidate to start immediately.
In a tight job market, you cannot tell when you will be able to secure a new job. So be prepared financially (at least 6 months’ buffer). It is easier for younger people to look for a job because they are cheaper and are more mobile. If you are in your late 40s or 50s, age discrimination may come in. In addition, an older person will have more financial obligations so it would be less advisable to quit without.
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