Considering a career change or wondering if your current job is still the right fit? It’s a question many professionals grapple with. While it’s impossible to provide a universal answer due to individual circumstances, understanding a core principle can significantly clarify your path. This principle, succinctly captured as “learn, earn, or quit,” offers a powerful framework for evaluating your career trajectory and making informed decisions about your professional journey, emphasizing the crucial concept of Earning By Learning.
Are you currently in a role where you are actively earning by learning and expanding your skillset? Or is it primarily one, or perhaps neither? This simple yet profound question can be your compass in navigating the complexities of career development and job satisfaction. Let’s delve into this framework and explore how embracing the concept of earning by learning can lead to a more fulfilling and prosperous career.
At the heart of this framework is a quote from Garry Tan’s Founder’s Journey series: “At every job, you should either learn or earn. Either is fine. Both are best. But if it’s neither, quit.” This concise wisdom highlights the two fundamental pillars of a rewarding career: continuous learning and tangible earnings. Ideally, a fulfilling role offers a blend of both, creating a synergistic environment for professional growth. However, at a minimum, your job should provide you with one of these crucial elements. If you find yourself in a position where you are neither learning new skills nor adequately earning for your efforts and potential, it might be time to re-evaluate your options.
The beauty of this “learn, earn, or quit” philosophy lies in the symbiotic relationship between learning and earning. It’s not a linear path but rather a dynamic cycle where each element reinforces the other, particularly when you prioritize earning by learning.
- Learning Amplifies Earning Potential: The more skills and knowledge you acquire, the more valuable you become in the job market. This enhanced expertise translates into increased earning potential, opening doors to higher-paying roles and more significant opportunities down the line. Experience gained through continuous learning is a valuable asset that employers are willing to compensate.
- Earning Fuels Learning Opportunities: Conversely, a solid financial foundation provides the flexibility to invest in further learning. When you are earning well, you have the financial security to take calculated risks, such as accepting a slightly lower-paying role that offers substantial learning opportunities, or investing in professional development courses and certifications that enhance your skills and future earning prospects. This financial cushion allows you to prioritize earning by learning without undue financial strain.
This interplay between earning and learning creates a positive feedback loop, propelling your career forward.
Earning and learning tend to form a cycle
When contemplating a job change, consider this “learn, earn, or quit” cycle as an optimization challenge where you are the key variable and the ultimate solver. Ask yourself: “Am I earning by learning in my current role?” Define what “learning” and “earning” mean to you personally. What specific skills are you aiming to acquire? What salary range aligns with your financial goals and lifestyle? What type and size of company resonates with your career aspirations? Are you seeking a stable, predictable income, or are you willing to take risks for potentially larger future payoffs while earning by learning valuable startup experience?
The resumes of successful individuals often reflect this cyclical pattern of earning by learning. Reaching senior leadership positions rarely happens by staying in one place and hoping for the best. Career advancement often necessitates strategic job changes to overcome earning or learning plateaus.
For instance, aspiring to a VP role within your current company might be unrealistic if a capable VP is already in place and the company’s growth trajectory is limited. Similarly, aiming for a high six-figure salary at a small local business may be unattainable regardless of your performance. In such scenarios, proactively seeking new opportunities becomes crucial to continue earning by learning and progressing towards your career objectives.
Instead of waiting for opportunities to materialize within your current confines, actively seek environments where the potential for earning by learning and achieving your goals is significantly higher. Transitioning from an engineering role at a large tech company to a CTO position at a startup, for example, might involve a temporary dip in guaranteed income. However, the accelerated learning curve and potential for high growth in a startup environment can significantly enhance your long-term career prospects, embodying the principle of earning by learning through calculated risk-taking. Conversely, taking a management role in a rapidly scaling company, even with a reduced salary compared to more established positions, provides invaluable experience in high-growth environments, mergers and acquisitions, and fundraising. This intense learning, fueled by a willingness to prioritize earning by learning, can pave the way for director or VP roles in larger organizations later in your career.
Career growth is rarely linear; it’s more akin to a pendulum swing, oscillating between periods of intense learning and periods of high earning, all while ideally earning by learning continuously. The direction of this pendulum swing is ultimately determined by you. How much do you prioritize immediate earnings versus long-term learning and growth? What skills and experiences are most valuable to you in your career journey?
Only you possess the answers to these pivotal questions. By consciously applying the “learn, earn, or quit” framework and actively seeking opportunities for earning by learning, you can take control of your career trajectory and unlock your full professional potential.
