Depends on how much of a cushion you have saved. There's always a risk that you'll overestimate your value, or have more difficulty in interviews (which aren't

Depends on how much of a cushion you have saved. There's always a risk that you'll overestimate your value, or have more difficulty in interviews (which aren't quite like work) than you'd anticipate, or the market will turn suddenly - so it's a risk like any other. That said, if you're planning on preparing for interviews, not having a full time job might be beneficial. If you're young and willing to live within your means, you can stretch 10s of thousands in savings quite far.