Discover the Advantages and Challenges of Switching Careers in Your 40s

Because of technological advances, political developments, and unexpected events such as the pandemic, job environments and climates change. Businesses open and close, industries expand and contract. In order to keep up, you will have to adapt and be resilient no matter what age you are.

It’s never too late to reinvent yourself and start anew! Planning your midlife career change starts here.

Whether you have resigned, retired, been retrenched, or just ready for something new, switching careers in your 40s or older is quite doable and possibly just what you need in your present circumstances. 

Read more: Resignation Due To Mental Health? 5 Signs It’s Time To Leave Your Job

The Advantages of a Midlife Career Change

Even if it seems bleak at the moment, take time to look at the bright side of things. Switching careers mid-stream will not be easy, but it can be done! For some people, it may in fact be easier than getting that first job fresh out of college, because being at midlife has its advantages.

You have a network you can leverage.

When you’re at midlife, you’ve built a wide network of contacts over the years. Look over your lists of business colleagues, classmates from high school or college, friends and acquaintances, and contacts from social media. Can you think of anyone who may have a lead for you or a tip for a prospect?

You have experience.

At this time, you will already have experience working in various roles and/or companies. You’ve developed the soft skills that will help you fit in at any office environment and get along with a diverse group of people. You can leverage your experience as an asset and make it work for you wherever you are.

You have transferable skills.

In order to survive the highly competitive world of work, you’ve likely honed the kind of skills that you can use in any industry or role. These include the hard skills of your particular profession, say, as an accountant or writer, and soft skills such as empathy, a good work ethic, emotional control, emotional intelligence, communication skills, and self-awareness.

You know what you want.

When we’re young and starting out, most of us didn’t know what sort of career we wanted or how to achieve it. That’s why a lot of young people switch jobs a lot, until they find a job that suits their personality and matches their preferences. It takes emotional maturity to learn what you want and decide to go for it. Midlife is often the best time for this, when you have the confidence gained from experience.

You still have time.

In your 40’s to 50s, there’s still enough time to move to another company and build another phase of your career there, even if you need to retrain. Even if you’re close to retirement, you can always do something that doesn’t require employment, such as setting up your own business.

The Challenges of a Midlife Career Change

If there are pros, there are usually cons as well, and it’s best to consider both sides of the equation here. Balance is key to making good decisions and choosing the best course of action for you.

You have family to consider.

Do you have young children or elderly parents at home? Making a big change at the present time may be disruptive for them. You’ll have to weigh carefully the requirements of a career switch against any potential problems such as a change in income or work hours.

You have financial concerns.

Are you making regular house or car payments? Do you have a credit card you’re paying off? If you make a job change at this time, it may affect your income stream. Think carefully if you’ll be able to handle it.

You have other responsibilities.

When you make a career switch at any age, you’ll have to consider the responsibilities you have. Do you have to travel frequently to check on your parents in the province? Are you the sole breadwinner? Are you putting kids or siblings through school? Ask yourself if letting go of your current job will put you in a precarious financial situation and make you unable to fulfill your duties.

You will need to make other changes in your life.

When planning your midlife career change, find out if there are other big changes you need to make. Will you have to move to another location for the new work? Will you have to take a pay cut while retraining? Will you have to go back to school to learn a required skill? If so, weigh these considerations carefully against the benefits you’ll gain from the career change. 

Planning Your Midlife Career Change

You’ve weighed the pros and cons, and you’ve decided that it’s a go. Now is the time to plan your career change. No matter how many candles you’ve blown out on your cake, this can be an exciting and interesting time for you. Look forward to the new experiences and learning opportunities ahead!

Do your research.

Find out all you can about your dream job or new industry, including the personalities involved in the company you want to join. List the skills you will need to succeed there, and decide whether you need to take extra training beforehand. 

Read more: These In-Demand Skills Can Help You Get Ahead in Your Career

Revamp your resume.

Get online and find out the preferred format for resumes at the organization you want to join. If you have to, obtain professional help (or ask a younger person to lend a hand!). If a photograph is required, make sure it projects a professional or creative image, depending on the field you are in. List all your transferable skills that will attract a hirer, such as creativity, adaptability, analytical skills, and leadership skills. 

Send out your applications.

Don’t hesitate to send your applications to all your dream companies – remember, nothing ventured, nothing gained! Use your network of contacts as well. Send your resume to friends who can pass them on. An opportunity can come from anywhere!

Stay positive and #SEEKBetter!

It may take some time to find something. If your initial approach to #SEEKBetter opportunities didn’t work out, do a refresh. Recalibrate your resume and/or cover letter, send them to different industries, or apply for different roles. Start with a part-time position or a side hustle and expand from there. There’s usually a different tack to try!

Need help with writing your resume or practicing for an interview? Check out our Career Tools.

Need Help?

If you’re out of ideas or want to try a different approach, JobStreet is here to help. Make that career switch in midlife or whatever age you’re at now. If you are ready to make a change, start by creating or updating your profile. Then for more expert tips, head over to Career Resources.

For more jobs, download the JobStreet app on Google Play or the App Store.