According to the Bureau of Labor Statistics, it is impossible to accurately state how many times an average American will change careers during their lifetime. The reason why is that various agencies define career changes differently and there are no uniform guidelines across all markets. Nonetheless, even with the lack of tangible figures, it is a known fact that people have a tendency to pursue new passions. While they may obtain an education and training for one role, the vast majority of the workforce will end up doing something else by the time they retire. So, what are some of the most common things that anyone who intends on undergoing a career change should brace themselves for?
Careful Financial Planning
According to a seasoned veteran of the music industry who attended both Georgetown and Harvard University, and the CEO of GUION PARTNERS, Lindsay Guion, financial planning should come first. When going through a career transition, regardless of the specific nature of it, there are going to be some budgeting challenges. These arise as a byproduct of a couple of different factors that include the following:
- Starting a new job that may lead to a hefty pay cut;
- Having to go through a period of unemployment;
- Spending money on additional education and training.
Each of those situations can facilitate financial difficulties. Not to mention when they take place simultaneously. To overcome the rough patch, Mr. Guion advises everyone to time their career change well. That means waiting until there are enough savings to last a few months or when one lines up a job within the new industry.
Back to Learning
After preparing for the potential monetary adversity, realizing that it is time to go back to learning is vital. Consider, for instance, a person that makes a transition from music to technology or real estate. Those three alternatives are probably as diverse as can be and there are very few touching points between them. Expectedly, career changes leveraging such fields are going to carry a substantial amount of learning. That raises the question about the individual’s ability to let go of their current position and downgrade to being the closest thing to an apprentice. Thus, looking forward to such a mental challenge is important in order to successfully defeat it.
The Need to Explain
After coming to terms that one’s authority and achievements may no longer play a role in their career, Lindsay Guion brings up the need to constantly explain oneself. How so? Well, practically anyone who hears about a person switching from music to technology or sports to real estate, per se, will want to know more. Luckily, the expected line of questioning can easily be summarized with the word “why.” Given that people are curious by nature, there will be no shortage of those who want to know what led to the career change in the first place. That means that it may be time to prepare to answer a lot of repetitive inquiries.
Research and Job Hunting
Obviously, a career change is impossible without a new job. In order to get one, however, it is necessary to go back to the days of constant research and job hunting. What exactly does this mean? It usually translates to countless hours of filling out job applications, turning in resumes, modifying cover letters to fit various roles, and sending follow-up e-mails. It also comes with a fair share of job interviews where one may need to revisit strategies for impressing their interviewer or the hiring panel.
The Forgotten Feeling of Anxiousness
Finally, Lindsay Guion connects the aforementioned process of job hunting to the forgotten feeling of constant anxiousness. A lot of people who decide to change their careers do so after spending multiple years in their field and reaching the so-called “burnout” stage. At that point, however, they probably do not recall the never-ending nervousness that sets in a few minutes before a job interview. They may also not remember how stressful it is to wait to hear back from employers and learn if they will extend a job offer. Well, this is when all those memories will rapidly come back. Hence why it is critical to prepare for being a job seeker instead of an experienced worker.
While there are some other things that may come into play, these five are the most common issues that people who change careers will face across all markets. Of course, anyone who is making a drastic transition will need much higher and tougher levels of adaptability. Fortunately, passion for the new job should be more than enough to contend all of the said obstacles.
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