I quit my job to finally pursue my passion — but it meant a huge pay cut and now I’m always broke. Did I make a mistake?

Core Insights - Many Americans experience career regrets, with 58% regretting staying too long in a job compared to 38% who regret quitting [2][5] - Employee engagement in the U.S. is low, with only 32% feeling engaged in their work, indicating a widespread emotional detachment from workplaces [1][5] - Job hoppers are facing diminished pay increases, with job-to-job pay raises moderated to around 7% as of July [8] Group 1: Career Transitions - Jo, a project manager, left his job to pursue a career in design, which he found more fulfilling despite the financial implications [4][14] - After investing in design courses, Jo struggled to find a job, eventually landing an entry-level position that pays 40% less than his previous role [3][14] - The job market is challenging, with only 22,000 jobs added in August and a jobless rate of 4.3%, indicating a tough environment for job seekers [7] Group 2: Financial Considerations - Jo depleted most of his emergency fund during his job search and had to adjust his lifestyle due to a significant pay cut [2][14] - It is advisable for individuals considering a career change to save three to six months' worth of expenses before quitting to prepare for potential job search delays [13] - The pursuit of a new career may require upskilling or retraining, which can be managed through online courses or night classes while still employed [11][12] Group 3: Job Market Dynamics - Younger workers may face tough job prospects due to global trade tensions and the rise of AI, which could limit entry-level positions [8] - Internal growth opportunities, such as upskilling or transferring departments, should be considered before making a decision to leave a job [9][10] - The importance of having an exit strategy is emphasized, suggesting that job seekers should research the market and prepare before resigning [8][10]