Effective Planning for a Late-Life Career Change

You might think of a career change as something someone in their mid-twenties might consider. After all, young workers at the beginning of their careers have ample opportunity to grow their skill sets in areas beyond their degrees. They can start over from scratch pretty easily, with few questions from hiring managers.

While it takes a little more foresight, a late-life career change is entirely possible. Whether you’re in your 40s, 50s, or 60s, it’s never too late to try something new. In fact, according to research, over 80% of professionals who attempt a career change after age 45 are successful — and almost 90% are glad they did. 

Of course, you don’t want to jump into a career change without planning. Knowing what to expect will help you make the most of your decision. Here are our top tips for people considering a late-life career change.

Determine What You Want out of a New Career

Before you dust off your résumé and send it to recruiters, you’ll want to decide why you’re interested in a new career. What do you dislike about your current profession? Do you feel that your compensation is unfair or that your work is unappreciated? If that’s the case, you may not need to change careers; instead, look for a different employer.

People sometimes change careers because they find their current work unfulfilling or have a passion for something their job doesn’t allow them to pursue. Others may look for a larger paycheck or a more comfortable work-life balance to enable them to spend time with grandchildren. You may have more than one reason to want a career change, and it’s important to understand all of them before moving forward.

When you know why you’re looking for a late-life career change, it’s easier to explain your choice to future recruiters and hiring managers. Also, you’ll understand your own goals, making it easier to evaluate your options and determine which path best meets your objectives.

Figure Out Your Ideal Role and Prepare for It

To successfully change careers from one field to another, you’ll want to spend some time researching any potential roadblocks. Some professions will have high barriers to entry, requiring you to complete additional education or obtain certifications.

For instance, if you currently work as an accountant and want to move into the legal field, you’ll need education and training to get the role you want, whether as a lawyer, paralegal, or some other type of professional. 

While you have transferable skills you can take from your accounting career, like research, attention to detail, and communication, you won’t be able to navigate your new field without the proper training or licensure.

However, not all career fields have high barriers to entry, and you may find it relatively easy to break into them. For instance, starting your own business in your existing career field can take some effort, but you probably won’t need to return to school to succeed. Similarly, you could consider a career that complements your current profession but allows you to do something different.

Look at Job Postings in Your Desired Career Field

It’s a good idea to research job descriptions in the career fields of your interest. That way, you can get a sense of what recruiters are looking for and learn whether you need any additional skills or education to improve your chances of nailing a role. You’ll also pick up on ways to highlight your existing experience to fit the position you’re seeking.

There are many ways to find job postings in a new career field. Aggregators like Indeed, Glassdoor, and LinkedIn list thousands of postings you can sift through by job title and location. You’ll also learn more about the type of employers looking for people to fill those roles, the benefits they offer, and their work culture.

If there are a few specific companies you’d like to work for, visit their websites and follow their social media accounts. By doing so, you’ll learn more about their work culture and the products and services they offer. That knowledge can help you if you’re invited to a job interview with the company’s recruiting team.

Rewrite Your Résumé to Focus on Your Target Jobs

Once you understand what employers are looking for in your chosen career field, you’ll want to recalibrate your résumé to tailor it to the roles you’re looking for. Rewriting your résumé can be a bit tedious, but it’s often an employer’s first impression of you. You’ll want to make the most out of it to increase your chances of landing your desired job.

People considering a late-life career change should make the most out of their résumés to stand out among competitors who may have more skills or experience in the role than they do. If you’re unsure where to start, consider hiring a professional career coach and résumé writer to help you.

A career coach is trained to help people navigate career changes. They typically work with dozens or hundreds of individuals doing the same thing as you — making the transition into another field they feel they’ll enjoy more than their current line of work. Career coaches can aid you with your résumé, cover letters, and interview prep while helping you avoid mistakes that could hinder your success.

Consider Your Finances

Making a career change can have financial repercussions you’ll want to be aware of. You might earn a higher salary than you had in your prior role. But it’s also possible that you’ll make much less money than you’re used to. If you’re the sole supporter of your family, you’ll want to determine how your change will impact your financial stability.

Many people find it easier to change their careers later in life simply because their children are older and may not need the support they once did. Others have paid off their mortgages or other significant expenses, like cars and credit card debt, so they have fewer financial responsibilities. They can take a job they enjoy more, even if it doesn’t pay as much as their previous position did.

Of course, not every career change will come with lower pay. It entirely depends on what you’re trying to do and whether you’ll work full-time or part-time. People who start their own businesses may find their earnings are low initially but significantly improve as they build their reputation and establish a customer base.

Dip Your Toes in the Water

If you’re unsure whether a career change is right for you, you might try it out while still keeping your day job. For instance, you could consider freelancing or taking up a part-time opportunity that doesn’t require quitting your career entirely. 

Plenty of people get a head start on a new career by doing precisely that. They open up shop on sites like Upwork or Fiverr, or they start their own website offering their services online. Over time, newfound opportunities allow them to grow their side hustle income streams into a full-time job opportunity they create for themselves.

Freelancing or part-time consulting allows you to determine whether your new career path is right for you. You won’t be giving up your regular paycheck, and you can decide whether you’ll genuinely enjoy the new opportunity before you make a leap you’re unsure about.

Partner with a Staffing Agency

While you can apply for new jobs online — and you may be successful — working with a staffing agency can put you at an advantage. A good staffing agency will learn more about you on a personal level. If you form a strong relationship with a recruiter, they can promote you and your skill set to employers looking for someone to fill their open roles.

Working with a staffing agency can get you in front of more employers than you might through job advertisements alone. Many jobs go completely unadvertised; instead, they’re filled through professional networks and contacts, some of which are staffing agencies.

When you partner with a staffing agency, you can still apply for open positions you see online. You can also work with multiple staffing agencies in your area. Staffing agencies don’t charge fees to individuals who work with them; instead, the cost is passed directly to the hiring organization.

A Late-Life Career Change Is Entirely Possible

Switching careers later in life can be a little scary. After all, you may have spent several decades establishing yourself professionally. However, many people succeed in making midlife career changes, and they find their new roles much more satisfying.

To make the most out of your career change, set your objectives and do your research. With proper planning, it’s much easier to get started!