People often leave jobs not because of the work itself, but because of bad management. In "exciting" companies with high turnover, inexperienced and insecure managers are more common. They may overwork employees, create a toxic culture, or be less supportive of career development. "Boring" jobs often have the advantage of more experienced managers who are less likely to feel threatened and more likely to support their team. A good manager can make even a mundane job bearable, while a bad manager can ruin even a "dream job."
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