My current developer role is the first corporate developer role I have ever landed (I was previously in another career, but left that career due to safety concerns then taught myself programming and web development). I have been at this small company 8 months, but during that time, about 60% of the employees that were there when I started have either walked away or been let go. The company cannot pay many of its bills and acknowledges this. What is worse is that some employees have been asked to take massive pay cuts and recently, the company cannot even fully make payroll. This has happened 4 times in the last 2-3 months, with the company giving us the paycheck in portions. The last time, the remaining portion was given to us very late, over 10 days past the pay period (in violation of state law).
I have about a 1 - 1.5 year cushion of savings, but I can also stay another 4 months and try to make a full year. With this in mind, I am strongly considering leaving to perform a job search full time, calculating that this will be more beneficial than staying on this Titanic, getting paid some of the time, and only being able to job search after work and phone screen during my lunch hour. Considering my experience level, is my logic here sound? (after all, 1 year at a workplace is a nice whole number that people will be less likely to question than 8 months at a workplace) In other words, is leaving the job and searching full time a better option than staying at the job and searching part time?