I hate working: What can I do about it?
Work is called work for a reason. But for some, it might be time for a break or a career change. Here’s how to do that without breaking the bank. The post I hate working: What can I do about it? appeared first on MoneySense.
Feeling drained, unmotivated or generally unenthused at work? You’re not alone. Many young people, particularly Gen Z, are grappling with job dissatisfaction and financial stress and wonder if they are destined for a loveless work relationship.
With the pressure to succeed on top of a competitive job market and the high cost of living in Canada, it’s no wonder many young Canadians feel stuck or like their hearts aren’t in it. If this sounds familiar, this guide is here to help you explore realistic strategies to take charge of your situation—whether it means a career shift, break or pursuing new avenues—without shame or guilt.
Why the job market feels overwhelming—and what to do
Many young professionals in Canada are facing job dissatisfaction, underemployment, unrealistic demands and limited job security. One global survey showed that nearly all—a surprising 97%—of workers aged 18 to 34 report feeling burnt out, a statistic highlighting today’s workforce struggles. Another survey showed that flexibility was significantly more important (35%) to Gen Z workers than salary (4%).
Young people today have an entirely different workforce experience than previous generations. And while they don’t seem shy about expressing it, many don’t know what to do about it.
“Youth in this category think it’s a reflection of themselves when really it’s a reflection of the market. The market is evolving very rapidly. There’s the influence of tech AI, so it’s really just trying to help them find a place that lands well for them,” explains 20-year career coach and career services and experiential learning manager at Ontario Tech University, Shenell Payne Cuffy. She adds that there’s an added pressure from the ceiling with many Boomers working beyond age 65.
So, what are your options as a worker? Payne Cuffy says young Canadians are starting to actively explore different job types to find work that feels meaningful and valuable to them. Gen Z are particularly selective—perhaps more so than other generations—thanks to remote work, tech advancements and the choice of full-time or contract roles (sometimes both), they have more opportunities to pursue careers that align with their goals—and desire for flexibility.
Younger Canadians seek intentionality in their work, striving for roles that reflect their skills, abilities and interests. Payne Cuffy says the best approach is to identify your core values and consider how these can be incorporated into your professional life.
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How to financially prepare for career change
Understand your financial standing before making any career shifts or considering taking a year or two off. A career hiatus is a luxury most young median-income Canadians likely cannot afford, says Sam Lichtman, a Certified Financial Planner and founder of Millen Wealth Advisors. If you’re a good saver and can dip into savings to take a reprieve to refocus and find more meaningful work, then evaluate how much it’ll set them back and weigh those priorities carefully.
Meeting with a planner can help. “We do a retirement impact assessment,” says Lichtman. For example, “If you take $40,000, $50,000 or $60,000 out of your savings, does that bump back your retirement a few years?” He points to the FIRE movement, which stands for Financial Independence and Retire Early, as a financial trend attracting some Millennials. “And sometimes you’ve got to choose one or the other,” he says about aggressively saving or changing retirement goals.
Building an emergency fund is essential, Litchman says, especially when fixed expenses are high, like with a mortgage. You can’t pause those payments when unexpected changes arise, so it’s crucial to prioritize building this fund in any financial plan. However, how much you need in your emergency fund varies based on job security in your industry and your occupation. For instance, a tenured university professor may require a smaller fund than someone in commission sales or a business owner due to the cyclical nature of their jobs.
A career break doesn’t mean you have to stop working entirely. If you’re thinking about taking a break, Lichtman advises first understanding your market value and exploring opportunities before resigning from your current job, like leaving a full-time role for flexible contract work.
Instead of spontaneously quitting, test the waters by taking on a side hustle, like contract work, while still employed. Many professionals in fields like IT and engineering successfully juggle side gigs alongside their day jobs, especially if they seek better pay or more fulfilling work. Also consider part-time roles or flexible shifts at local retailers to supplement your income. This approach can help you save while transitioning to a new career path.
For instance, Lichtman’s wife, a former teacher, found fulfillment by moving from a high-stress job to a low-stress role. “During COVID, she realized she didn’t want to continue teaching, but she still needed to get out of the house and feel fulfilled in her day. It may not need to be a break from working altogether. It may just need to be a change of pace,” he says. She started managing a gym’s front office and loves it.
Steps for mapping out a path to more meaningful work
If your job feels unfulfilling, it’s time to reflect on what you truly want in your career. “Sit down and reflect. What is it I enjoy doing in my current day-to-day job? Also, what do I not want to do anymore?” Payne Cuffy says.
Here are her practical steps for finding job satisfaction.
- Self-reflection: Evaluate your career goals and identify the qualities of work that make it meaningful for you.
- Assess current skills: Identify skills you already have that can be leveraged in your desired career path.
- Upskill: For your skill gaps, explore online resources for upskilling, such as micro-credentials and certification courses, on platforms like LinkedIn Learning and Forage for simulations in fields of interest.
- Seek internal opportunities: Approach your manager about taking on projects related to your interests to explore new areas within your current role. You could even gain experience for the next stage of your career.
- Consider side work: If transitioning to freelancing or contract work, maintain a part-time job or side gig to ensure financial stability.
- Network: Actively inform your network that you’re seeking new opportunities. Connect with your existing contacts and use LinkedIn to identify potential mentors in your desired field. Ask for introductions and seek advice.
- Utilize alum networks: Explore LinkedIn’s alum tool to find where former classmates are working and learn about their career paths.
- Align values with work: Reflect on your core values and look for companies aligning with yours. Ask specific questions during interviews to confirm this fit. A good example of this is work-life balance.
- Customize job applications: Tailor your resume and cover letter for each job application, and follow up with potential employers on LinkedIn to express continued interest.
- Build your brand: Develop a strong online presence to attract clients and/or employers, and create a marketing strategy to highlight your skills. You could consider building an online portfolio or a QR business card for your resume.
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Day-to-day strategies to stay balanced… in the meantime
Stay grounded in reality as you carve out your new career path. Social media can often mislead us, presenting a distorted and overly curated look into others’ careers that oversells their success—while downplaying the challenges and hard work that usually accompany it. This can lead to unhealthy comparisons and inflate expectations about career happiness and financial success.
Instead of doom-scrolling your social feeds, Payne Cuffy encourages honest conversations with friends about their work realities so you can gain a more balanced perspective and realize that others face similar struggles.
She also suggests seeking clarity about the roles and responsibilities of jobs that interest you. Connecting with colleagues in lateral positions can provide valuable insights into the skills required and the realities of their day-to-day tasks. And reflecting on your work situation is essential; identify what aspects are within your control and what may be external challenges.
Building up your confidence at work involves recognizing that tough times can be temporary and valuable learning opportunities, reminds Payne Cuffy. By understanding your experiences, you can better prepare for future challenges and make informed decisions about your career path.
And simply switching jobs might only replace one stressor with another, especially if financial concerns are involved, says Lichtman. A clear plan is vital—understand your financial needs and explore options like unpaid leave, which some employers may offer. Thoughtful consideration of your motivations—and alternatives—can guide you toward a more fulfilling work experience.
Read more about financial well-being:
- How much money should I have saved by age 25?
- 6 things to consider before borrowing from the Bank of Mom and Dad for your first home
- How to take a gap year trip without breaking the bank
- How to afford a fun life
The post I hate working: What can I do about it? appeared first on MoneySense.