5 Career Tips for People Over 40: What to Consider Before Choosing a New Career
Originally published here
“The best time to plant a tree is 20 years ago, but the second-best time is now.” ― Chinese proverb
For many people, the idea of starting a new career in their 40s is daunting. Career opportunities for professionals over 40 are limited, and it can be challenging to find a company that doesn’t discriminate based on age. However, you should consider a few things before you start looking. Let’s explore some points to help make your decision easier so you can get back to work!
1. Find out if there are any jobs in your area within your desired salary range before looking elsewhere
I am assuming that you are thinking about changing your career because you are not happy about your current situation or other industry/career is offering more. You have devoted years of your life to your career, and it will be difficult to give it up. Career changes are more likely successful when you make this decision based on personal choice rather than financial needs. However, if you are not happy because your work is not being valued fairly, perhaps you should spend some time looking at other employers in the same industry who might offer a better work environment and compensation package.
2. Determine if you can afford to move on from your current position and start a new one
Of course, there is a significant risk with starting a new career. There are uncertainties around your skillset and your earnings potential. If you are financially stable, perhaps it is time to make this change; however, if you have dependents or debt obligations, it might be better to stay where you are until you can find another position that will provide sufficient income for both yourself and your family. Can you afford to start a new career and lose the job in a few months?
3. Figure out how much time you have left in your career, given that it is likely not as long as when you started
I know it can be scary and depressing to think that you are halfway through your working life. However, it is important to be realistic about the time you have left and use that information to make your decision. If you are looking for a career change because you want to retire soon, starting a new career might not be the best option. Remember all the tacit knowledge that you have accumulated in your current career. To gain that level of knowledge in the new career will take years. Do you have enough years to gain the knowledge and develop your expertise to flourish in the new career before retirement?
4. Make sure to take into account any skills or training gaps that might exist before starting a new career path
Every area requires its own skills, knowledge, and experience to succeed. Do you need to take some courses or develop a portfolio of work? Time can be your biggest enemy. Career changes are more likely successful when you have acquired sufficient knowledge and experience in the new industry to be offered a position that is commensurate with your skillset. Career change takes a risk, but if you can mitigate some of those risks by strengthening your network or developing expertise before starting the process, it will increase your chances for success.
5. Choose a career that is in demand, such as nursing, teaching, or data science
As a risk mitigation strategy, consider a new career path in a field that is in high demand. Jobs such as nursing, teaching, and data science/analytics are always in demand because there is a constant need for new professionals to enter the workforce. Choosing a career path in an industry that is growing exponentially will give you more opportunities for job security.
A career change can be difficult at any age, but it can be incredibly challenging if you are trying to make this change at a later stage in your career. Career changes take time and effort and the willingness to take risks and embrace new challenges.
My first career change came in my mid 30’s when I decided to do my Ph.D. after being a political campaign consultant for 11 years. In my mid-40’s, I decided that being an academic was not my calling, so I had another career change to become a data scientist for a government agency. I managed to develop and maintain my data analytics and statistical modeling expertise, which was leveraged throughout my career. I believe joining a government agency to apply my data science expertise was one of the best career decisions that I have made. It’s fulfilling my need to make a difference while maintaining my work-life balance.
It’s scary, but the risk can be managed. If you are looking for a career change, you should do an honest assessment of what is that you are looking for. Consider the time and effort that will take to get there.
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