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Since, you've not described how miserable or suffocated you feel, we can't really assess the situation at your end. Then, everyone has a different threshold.
Quick suggestion. Don't leave your existing job without an offer. Things will fall into place when you're least expecting them to be. But, things will only fall into place if there's actually a place. So, stay and learn to cope up with all the stuff and when the right time and right opportunity strikes...leave!
Go ahead, do it. It's early in your career and that is why you can do that.
I just felt that I wrote this post. I am deliberating on this constantly these days.I keep hearing the same response as the ones here. But what I feel is its easier for us to take this risk now than later. I’ll share my two cents of what I have gathered till now:
1. if you don’t have a plan how or what will you do in the downtime then don’t take it..Also, how long you wish the downtime to be.
2.Try to take a longer paid leave first and then consider quitting if that doesn’t work and you are able to accomplish somewhat what you wish to do eventually when you take the time off.
3.Also, one of my peers did this quit and then find a job she found a good one in 4.5 months as she had served her notice period till Feb 2020 and she found a job in lockdown. So, something or the other works out but you need to be confident that even if it doesn’t you can handle it and aren’t going to kill yourself with anxiety and self worth issues.
4. If you want to study and that is why you are quitting take a deep breath and certainly manage your time. This is not a good enough reason to take that time off. This is India and it can easily blow in your face given the good colleges to student ratio. But if you are damn focused only then do it and no looking back, by focused I mean putting in JEE kinda efforts.
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I would advice to have a job offer in hand and then quit. Don't know what's your case, but the thought of leaving the job without any other in hand always scared me.
Better to be very safe than facing any troubles after.
Depends on your skillset and work experience till date. Usually Freshers find it difficult to get another job and you have to explain to another company why you switched. Keep applying, polish your skills or make concrete plans for a career shift (MS, MBA etc) and then switch imo.