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Switching careers is now seen as the exception, compared to previous times when tenure was the trend. Research by McCrindle found that school leavers today will have an average of 17 different employers in their lifetime, and older employees are spending significantly less time in roles than they did four decades ago.
So while the idea of starting a new career at 40, 50 or beyond can be a scary prospect, it’s something many professionals do – and it’s possible with preparation and a plan of action.
In fact, as an experienced worker, you have a distinct advantage over those who are just entering the labour market.
For starters, you’ve probably already built up a specific skill set and know the ins-and-outs of business operations from already working in several. You may think that taking on a new career could equal a setback in seniority and salary. However, this is where you can focus on your transferable skills.
Furthermore, you’ve likely had more experience with job interviews and have a better understanding of what sort of jobs you are now passionate about. Plus, you should have a strong sense of what your strengths and weaknesses are as an employee.
You might be asking yourself, ‘how to change careers at 40?’ and being unsure how to get started on the right path. Here are some key steps to assist you if you’re considering a career change at 40 or beyond.
While you may have already decided that you want to look at changing careers, it’s important to have a set plan in place before you give up your current job. Firstly, think about what your goals are for your new career – including the values you want to uphold and what sort of work gives you the most professional satisfaction.
Keep in mind that progression may be slow to start off with, and you may even need to take a step back in terms of seniority. Consider the impacts of this (like having to take a salary cut or starting at a lower level) and try to make life adjustments that will make the transition easier.
Before considering changing careers, it's important to examine your motivations for wanting to change careers. Are you seeking a new challenge? Have you always dreamed of owning your own business? Is your current job affecting your mental health? Or have you always wanted to pursue your dream job? Identifying the reason behind the desire for a career transition will help you set clear career goals and navigate the career path that makes sense for you.
When planning a career change, one of the first steps should be to assess your transferable skills. These are skills you've developed in your current job or personal life that can be used in a new career. These can include problem-solving, analytical skills, or even your ability to manage more responsibilities. Recognising these existing skills and showcasing them to potential employers will give you a competitive edge in the job market.
After assessing your transferable skills, start exploring new career ideas. Review job listings, visit online job boards, and connect with your professional network for the latest openings. Seek career opportunities that align with your interests, passions, and core strengths. Whether it's in a new industry, a technical role in information technology, or a job role in community services, the world of careers is vast and diverse.
In some cases, making a career change may involve learning completely different skills or studying for a new career field. Short courses, online resources, and part-time study options can provide you with the job-specific skills required for your dream career. Devoting spare time to developing these new skills will pay dividends in opening up job opportunities.
Gone are the days when tertiary education was just for school leavers. Nearly half of all university students in Australia are mature-aged, and of those, 67% work and study at the same time. These statistics show it is possible to begin working toward a new career while you’re still employed.
If your new career field requires specific skills or education, consider taking on a part-time university or TAFE course to give yourself a head-start before you leave your current role.
There are also great online resources and short courses, such as LinkedIn Learning, which provide certifications you can include in your resume to boost your appeal when applying for jobs.
It’s all about who you know, as they say, and that’s true even if you’re going down a completely new career path. Chances are someone in your existing professional network, even family and friends, can offer some insights into your new profession or knows someone else who can – so don’t be shy about reaching out to see who can help.
Do your research to find out what networking opportunities there are in your area where you can get to know others in the industry and start building up your contacts.
No matter how much experience you have in your current field, you could be starting near the bottom in your new career. To excel quickly, it’s crucial to learn as much as you can from professionals with experience in your new industry.
If you don’t know anyone personally who could act as a mentor, remember the internet is a great resource for connecting with experts and thought leaders who can offer first-hand advice about getting your foot in the door. Search for groups on social platforms that you can join to ask questions and gather insights about people’s experiences.
Look out for specific keywords and phrasing that are often used in job postings and company websites in the sector you want to transition into.
When you apply for jobs or go to interviews, speaking their language will show employers that you’ve done your research and have a good foundational knowledge of their industry.
Before you dive head-first into your new career, research the current jobs market to see what skills are in demand and what roles pop up regularly in job listings.
Also, consider how jobs in the industry will change over time, as transitioning to a new career is a long-term process – and it’s important to have the right skills under your belt when it’s time to start applying for jobs.
Having a keen understanding of the labour market in your new industry can significantly increase your chances of career advancement. This means looking at the health of the industry, the demand for specific job roles, and any potential growth or limitations in career opportunities. If you're thinking about a career change at 40, you might also consider careers that are suited for those approaching retirement age.
Career changes often come with financial implications, and it's important to consider this in the planning phase. You might need to take a pay cut for an entry-level position in a new field or might need to invest in training. Leaning on your support system during this transition phase is crucial. This could include family, friends, and even career development services.
As you embark on this new journey, remember that changing careers at 40 is not just about the job itself. It's also about your personal life, your work-life balance, and your mental health. For many, a career change is a chance for more control over their working life and improved health.
A career change, particularly a career change at 40, might seem like a huge leap, but it's an opportunity for personal and professional growth. It's about looking beyond your current role and seeing what could be—an exciting new career awaits!
With careful consideration of your transferable skills, ongoing industry research, and a willingness to learn, you'll find that the prospect of changing careers becomes less daunting and more thrilling. Finding a new career at 40 has become more and more common in recent years, so let the second act of your career story begin now!
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