Navigating a Job Search While Facing a Performance Improvement Plan as an Underwriter

I just found out that I've been placed on a Performance Improvement Plan (PIP) at my current underwriting job, which has been a poor fit for my marketing background. I'm feeling a bit overwhelmed as I have 5 business days to decide whether to opt in or opt out of the PIP. If I opt out, I would receive 60 days of pay while not working, followed by 12 weeks of severance. I've already started updating my resume and applying for new positions because I've been eager to leave this job for a while now. My main concern is how this decision will affect my job search. Some applications ask if I've been involuntarily terminated, and if I accept the severance, I would have to answer yes to that question. I'm worried that this could automatically disqualify me from certain opportunities or significantly reduce my chances of getting hired. On the other hand, if I choose to stay on the PIP and manage to find a new job within those 60 days, I could quit before the severance kicks in, which might look better professionally. I’m really torn and would appreciate any advice on how to navigate this situation.

Job title: underwriter

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