Should I stick to a decent-paying, low-pressure, stable but dead-end job or switch?
I have been working for a service-based MNC since past 7.5 years. It’s a non-tech job that offers great WLB. I have an amazing manager and genuinely kind colleagues too. Work mode is hybrid though they are making it increasingly difficult by introducing new rules every quarter or so.
I realise that these are aspects to celebrate in this job market and economy but I am starting to feel that the longer I stay at this job, the more unemployable I will get. It’s becoming a dead-end job because the company has no plans of promoting the employees at my JL to the next one. In fact, there have been no promotions at all at the higher levels in the past several years, no matter how deserving the employees are. I am not growing much; my role isn’t moving into strategic collaborations or ownership. I am stuck at execution level. Hikes are insulting and rare since past 2-4 years (before that I used to get decent hikes and have also been promoted). Though my pay is enough to take care of my bills and offer stable money in a double income household, it is much less than my market value based on my 13 years of experience and expertise.
I know I can bag a better pay but I have also been hearing horror stories from my friends in the same domain about horrible managers, toxic companies, layoffs and what not. My previous manager at my ex-company used to micro-manage and I hated it. It made me anxious all the time. So I understand the value of a good manager and the blessing of a stable income, but the longer I stay here, the lesser my chances of getting a good job in the future (I fear).
Is it a good idea to switch considering the market and economy will only worsen in the next few months? Or should I cling on to this job (at least for a while) even though it is making me self-doubt and lose my confidence (apart from making my WFO days stressful)? I have already started looking out but I would love to hear from mid-level professionals, especially non-tech folks, about the current market situation. My worst fear is that I stay here just for stability only to realise that I am now 40 and have no where else to go.
TL;DR: 13 years of non-tech experience professional working for the same company since 7.5 years is starting to feel underpaid and undervalued at a seemingly dead-end job despite a good WLB and supportive manager. Is switching in this market the right call?