A Bonafide Guide to a Midlife Career Crisis
By Jeff Altman, The Big Game Hunter
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Changing careers later in life is not a bad thing; it can actually put you at an advantage. In the ever-changing job force, individuals are making changes in their careers at all ages.
There are many reasons why adults look to change careers later in life. Maybe you outgrew your field and are no longer interested. Maybe you’ve stumbled into new interests or hobbies that you’d like to pursue. Maybe you feel undervalued at your current job and aren’t getting the pay or recognition you feel you deserve. If you look at the big picture, not everyone chooses to stay at one job for their entire life, especially if it’s lost its spark. With our ever-changing workforce, companies are much more eager to hire older employees who’ve already had long-term careers. This group shows dedication, loyalty, and the drive to better themselves even as older adults. This is how to successfully navigate a midlife career change.
Start with Soul-Searching
If you’re looking to change careers, you’re going to start with some research. Begin by creating a rough plan for your career change. Ask yourself, where do I want to be in 10 years? What am I missing now that could get me to my 10-year goal? What qualities am I missing from my employment that would otherwise keep me around?
You’ll need to look into your areas of interest so you know what you’ll need to bring to the table come interview time. As mentioned in 5 Huge Screw-Ups Career Changers Make, “the skills needed to find a job are different from those needed to do a job.” Consider taking a personality career test online if you’re feeling lost in the job search. Quizzes like these can help match up potential careers with our personality traits and interests. Trying it may even spark a different idea for you to look into!
Everyone who’s itching to find a new outlet is most likely looking for an easy career change that pays well. Sometimes, however, you have to put in extra work to get the pay and satisfaction you deserve from your job. Depending on the severity of your career switch, you may need to take time off to go back to school, take extra classes, get additional training, or study to prepare. Your new job may require you to travel for interviews, or regularly upon hire.
Additionally, you may be taking a pay cut with your new job, and you’ll need to balance the pros and cons of a lower wage with a job that brings more fulfillment. These are aspects you need to consider in advance to ensure you can maintain your and your family’s lifestyle, in the event your income will be changing or surprise expenses pop up.
Prepare for Extra Costs
Most people who change careers often haven’t spent long planning or considering the impact of this change on their finances. Beginning a new career in your adult life can be self-fulfilling and boost one’s quality of life. However, there are lots of unexpected roadblocks such as waiting periods to be hired that may affect your ability to pay for unexpected medical expenses, inflation of utility bills, or any other emergencies. One way to ensure these unexpected expenses will be covered is to consider letting your home do the work for you!
If you’re planning on staying in the home you’ve learned to grow, love, and make memories in the long term, you can utilize your home’s equity to take out extra money and use it towards any expenses during this period of change. The interest rate for this financing option is fixed and lower than a personal loan or credit card, which can ease any financial stress and make it easy to pay back. You’ll want to have a good understanding of how much money you’ll be spending during this career change, so start your budget during your research stage. If you’re putting kids through college, navigating funeral costs for a loved one, or taking time off between jobs, this is a great solution to responsibly utilize extra funds.
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Learn New Tricks
In today’s day and age, it’s becoming increasingly popular to not stick with one employer your whole adult life. Changing careers later in life is not as impossible as it seems. However, be prepared to combat ageism during your job search. Use your age and experience to your advantage by showing you’ve been a loyal employee who has dedication, stamina, and curiosity. You’ll bring your years of insight to the table that younger employees just haven’t experienced yet, offering different perspectives for a more diverse workplace. Nowadays, companies want employees to come from various backgrounds so their platform has a perspective with many different angles and opinions working to keep things fresh. At 50, it’s actually looked at very highly and preferable that you’re open to change, and willing to try something new. Your initiative brings a competitive edge to your new career field.
Don’t be afraid to put yourself out there; you may not have all of the skills you need yet, but even so, many employers just want to see that you have the drive to learn and push yourself to new boundaries. If you feel fit for the position but maybe don’t fit every box, apply anyway and use your history and adaptability to your advantage. You’re a seasoned professional and can take on a challenge. Present your abilities with confidence to your interviewer. Don’t get discouraged by being rejected either, because any interview is good practice regardless of the result. Say you are rejected – it’s a common practice to ask your interviewer what you’re lacking or could improve upon. This is positive, constructive feedback from a professional similar to who’ll be employing you, and it’s important to see yourself in their eyes. This way, you can learn about areas you may need to refine yourself in, or areas you didn’t know were as important as they are. Also, being turned down opens doors for you to find other jobs that might be a better fit. Hold your head high and have confidence in what you know you can achieve. Take advantage of your feedback and use it to benefit you at your next interview, and get you that job!
Modernize Your Approach
Throughout your professional career, you’ve developed soft and hard skills from your work experience. These range from skills such as communication, leadership, and adaptability, to learned skills such as using Excel or a foreign language. Regardless of your skill set, you need to highlight them for your potential employer to see. Most of your skills, such as working with others, will transfer to a different career with no problem. However, you may need to be open to learning new competencies for your job, even if you’re not changing career fields. It’s important to show your potential employer that you’re willing to learn and adapt.
Chances are since you’ve been in your position for so long, your resume is a bit outdated. You’ll want to spend time catching it up to 2022’s speed with bulleted points and concise headlines. Utilize handy websites like Indeed for their free resume builder, where you can customize a fresh, updated one, or update your current resume by creating an account and uploading. Your employer wants to confidently know what you can do from one read-through. The goal is to show the employer that even if you’re changing career fields, you have the drive to expand and bring potential to your company. If you feel fit for the position and maybe don’t check every box, take the leap and apply anyway. You may not have every skill yet, but employers like to hire a learner who’s not afraid of challenges.
You’re a seasoned professional who’s likely accomplished great amounts over the course of your professional career. Hold your head high and secure what you know you can take on. Finding a new career can invigorate you and open doors in ways you never expected. Being an older applicant with experience will be advantageous for you, as the combination of your age, prior skills, and ability to learn and adapt, will set you apart from the others.
Ⓒ The Big Game Hunter, Inc., Asheville, NC 2022
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