You never really mentioned it at the time but you chose to study business because you didn’t know what else to do. You spend every Sunday thinking about how you don’t want to go in on Monday. You secretly harbour thoughts of entering a completely different field, industry or even starting your own business but when you think of all the upheaval it would cause you wonder if it is really worth even bringing up the topic at home? Well, time goes quickly, in the end we regret the things we don’t do more than those we do and talk is cheap. So whether or not you will act on these feelings in the future it is definitely worth talking about them with the right person in your life.
The age of the internet brings with it access to career and life information on an unprecedented scale. So if you are thinking about a career change do your research. Find out what the expected pay scale is likely to be in your new career. Find out the day to day reality of working in the industry. Gain access to people who are contemplating or have gone through a similar career change.
People tend to have an attraction to all-or-nothing thinking (in this article by Daniele Perchiazzi the author explores common logical fallacies that can inhibit our decision making). Some more than others. It is true there is a certain glamour attached to the notion of immediately surrendering to a new passion or dream and pursuing it completely and this type of thinking does have its place. However when it comes to you and your family’s financial future discretion, at least initially, is the better form of valour.So, instead of immediately forming a ´either/or paradigm´ when thinking of your possible career change, Imagine how you might combine them, initially, to test the water without completely relinquishing the life boat of your established career. Perhaps it is feasible to begin your new career as a side venture, train in new skills part-time or volunteer. Remember whatever small steps you can take towards your new destination will never be a waste of time as at the very least they will help you make a more informed decision about a life changing moment.
Sometimes the most exclusive hotel can seem like a prison and the most expensive food seem tasteless if you are not where you should be. However as true as that statement is so are the old sayings ‘far away hills are green’ and ‘you don’t know what you’ve got ’till it’s gone’, and a decision as large as leaving behind a career you have worked hard to achieve and starting again from scratch should be tempered with both sides of that argument. So go deep. Discuss your feelings with your partner, your family, a sympathetic boss if appropriate. It may be worthwhile to seek out a trained professional: a life coach or psychologist. After all, perhaps what you are seeking is not a new career at all and if that is the case it would be better to find out sooner rather than later.
While the psychological costs of staying or going will be your greatest challenge to estimate the financial costs will be altogether more accessible and should not be shied away from. Do your homework. Put down in black and white what your income is going to be, err on the negative side, and budget accordingly. Don’t forget to investigate how your tax will change. Will you enjoy greater tax relief making your proposed change more feasible than you thought? Or do you stand to lose benefits that will have the opposite effect? Whatever the reality of your situation is to be estimate it as accurately as you can, prepare for it and go into it with eyes wide open.
Once you have made a budget for your future financial situation impose it, as much as is possible, immediately. This article, from the Harvard Business Review by Russell Clayton, examines this, along with other related points, in greater depth. This will not only permit you to save for the future but will also act as a reality call as to what your proposed future holds. To help track, and curb, your spending try using apps like Mint, which will enable you to keep a greater track on your outgoings: you might be amazed by how much you spend in certain areas.
Making a career change inevitably involves lifestyle change and, in the majority of cases, at least initially, a lower standard of living. So address this proactively. Evaluate what brings you real joy in life and eliminate the things that cost money but don’t provide that joy. Today there is a real movement of people re-evaluating our perceptions of ‘the good life’ and often discovering that lifestyles which require considerably less financial wealth can often bring them significantly greater happiness. To explore ideas such as these here is a link to a blog by Joshua Becker called becoming minimalist as a starting point; however the web is full of peoples’ stories about how they have actively pursued a simpler, cheaper lifestyle to positive effect from which you can take tips, advice and inspiration.
If you are determined to make a career change let people know! Ask others who have made the same move. Find out the facts. See if you can meet people in the industry you are moving to and find out if they would be willing to help you. The extent to which you can publicise your intentions will be limited to how much you can reveal to your current employers; however within those parameters do your best to gain as much access to and information on your desired field as is possible.Making a career change can be a terrifying prospect. It forces us to face ourselves and ask what our true values are and who we are as people. However even within a framework as pivotal as leaving behind the career path we have forged and starting out on a different path there remains many opportunities to approach our new direction astutely, gradually and with complete awareness of what we are taking on.
Written for CareerJunction by Mark Dempsey.
