Quitting Your Job In 2023? How to Know When to Walk AwayJan 02, 2023
Being willing to quit can put you in a position of power - especially in high-demand fields like data science.
It’s no secret that the great resignation continues to roil the employment market, and that is true for almost every industry, including those in the data science field.
The employee turnover rate in 2020 was more than 69 percent in the professional and business services employment category, and in 2021 the overall turnover rate across all industries was more than 57 percent. The trend has continued through 2022, with 40 percent of workers currently saying they are considering leaving their jobs soon.
Employee turnover was accelerated by the pandemic when many sought to rebalance their lives and seek better work-life conditions. In recent years, the top reasons for leaving a job include:
- Lack of work-life balance
- Lack of a flexible work schedule
- Lack of remote work options
- Pursuing a passion
- Lack of career growth opportunities
Making up your mind to leave a job, especially if you have only been there for three to six months, can be a power move – for employees in sought-after fields like data science, new employees likely have more leverage than they might think.
How Do You Know When It Is Time to Quit Your Data Science Job?
Whether you are happy at your job or not, there are some good reasons why you might want to consider a job change. They include:
- The company has hit a rough patch and is losing clients and/or employees
- The company recently merged with another company or was acquired
- The company is being restructured and your role or your job description may be changing
- Leaving your job for another may be the only decent way to advance your career
- You want to work in a new industry
- You want to work at a company with more opportunities for professional development
- You want more money
- You don’t like your boss
- You want a different schedule, a more flexible schedule, or remote work options that your current employer does not offer
- You want to live someplace else (closer to family - or a loved one)
How to Ask for a Raise In Data Science
If you like most aspects of your job but just want more money, it might make more sense – and be less painful – to simply ask for a raise.
Collect information related to what other employers pay data scientists (and what other data scientists are getting paid). Use these resources:
- 4 Ways to Revolutionize Your Salary Research
- How I Help Others Prepare for Salary Negotiations: Research, Research, Research
- How To Talk With Recruiters & Hiring Managers About Salary
If that is what you are thinking of, here are some more tips:
- Collect the praise you’ve received since your last performance review
- Bring data and numbers to show how you are making the company better or more profitable
- Think about what is in it for your boss and frame your request that way
- Ask for a specific salary, not just “more money”
- Don’t seek more money for personal reasons – just because you bought a new car does not mean you deserve a bigger paycheck
- Ask at the right time – pay attention to layoffs, budget cuts, or bad fiscal news when thinking about asking for more money