Loaded Questions: Should I consider a career change?

 LOADED QUESTIONS – Should I consider a career change?

Many Americans this year have either been forced into a career change or are considering a career change due to the global COVID-19 pandemic. I’ve been asked a few times this year whether or not a client should consider a career change. I sought out the advice of career and executive coach Katherine Porter of The Transition Navigator. Katherine is an attorney turned entrepreneur and has coached many women on navigating big life changes. Below is a transcript of our conversation that will hopefully give you issues to consider if you are someone asking this very loaded question.

Christina Gamache: Katherine, thank you for joining us at Audax Wealth Management. We work with clients do make investment decisions and financial plans that are custom to their families. One question that keeps coming up this year in their financial plans is about career changes. What would you say to someone who is wanting to change careers during the pandemic? What types of issues should they consider? 

 Katherine Porter: Get clear on what you want and why you want it. Do an assessment of your values and strengths. Ask yourself some questions to get at the real problem - Why do you want to change careers?  Is it something in your current position that you don't like or is it the work itself? Are you able to show up at work as your true self?  Does what you're doing align with your values?  Is your work meaningful?  Understand what parts of the job you like and which parts drain you.  What would you change if you could?

 CG: Those are good distinctions to make. Practically speaking, what are some useful exercises people can do to help them in their analysis?

 KP: Make a journal. Pick a week or two and observe how you feel as you go through a typical day. Look at how energized or drained different parts of your job make you feel.  If you do this over the course of a few days, you'll probably see some trends.

 Also talk to other people and do your research. You want to talk to a few different people - people who are in the field you're considering and people who've made similar transitions.  Also talk to your personal "board of directors."  The people who know you and are in your corner - see what they think about your new venture.

CG: Is there a difference between someone wanting to change careers or wanting to change jobs? Is the process for transition different? 

 KP: Definitely. If you're wanting to get into a new field, you'll want to gather a lot more information about what the industry is like.  Also, you want to get financial information - will you need to enter the field at a lower level and lower salary?  And be prepared to talk about the transferrable skills you have.  Do you know what it takes to build a team? Are you really good at implementing rules and processes?  Are you the go-to person when someone needs analysis of a complex issue?  

CG: Yes, highlighting what you said about the financial information - when someone is considering a career transition, it is especially important to consider the financial planning aspect. Do you have savings to sustain your career transition, either because you are taking a pay cut, starting a business or having to enroll in an educational program? Having a solid financial plan can help alleviate some of the stress involved in career transitions.

 KP: That's great advice Christina.  You really need to understand your finances and how they fit in with your transition plans.  Basically, it's doing your homework, whether that is financial homework, researching the field you're interested in, or taking the time to assess your own strengths and values, it's important to take the time to gain insight into how a transition will impact different areas of your life.  My other piece of advice is to just start.  Maybe it's a teeny-tiny step, like checking a book out from the library, or joining a LinkedIn group, reading an article, skimming Reddit threads.   You will never make the change or see results unless you take that first action.

CG: Right, that first step is always the hardest. Many people also lost their jobs during the 2008 recession. In fact, post-secondary education enrollment increased at almost every major institution. Is education something you think people should look into during this time if they get laid off or want to buy themselves some time?

 KP: I'm all for education.  I'd like to make going to school my career.  But that's not realistic.  Education can be a great way to explore a different field.  As we touched on earlier, you want to take a look at the ROI.  Depending on the field, weigh the time and expense of additional education with the increase in income you can expect.  Also, consider professional certificates rather than formal degrees.  If you've already got a higher education degree, certificates can be a great and cost-effective way to learn a new field and show future hiring people that you're interested in the area.

CG: Worrying about how someone is going to feed their family is a very different motivation for changing careers than someone who is just tired of their current industry. For example, a lot of artists are hurting right now and some are considering changing their career to something with a steadier paycheck. What advice would you give to someone in that situation? What about someone with the opposite situation - someone in a traditional "9 to 5" job that wants to be a freelancer?

 KP:  Yes.  If you find that you need extra income, but you don't want to abandon your current job, you may be able to find part-time work that enables you to work as an artist or musician.  You don't have to completely abandon your chosen profession - you may just have to devote less time to it for a while.  Similarly, if you have a steady job, but would like to devote more time to things that really light you up, you might look for ways to branch out.  Maybe it's starting a side-hustle.  There's a lot of talk about how in the future, more people will have multiple streams of income rather than one job at a time.  

CG: The world is definitely changing fast! During the lockdowns across the country, we've actually seen a lot of industries pivot faster than they normally would. Virtual conferences are normal now, whereas this time last year they were the exception rather than the norm. Not many people were afforded the luxury to work from home before the pandemic, and now millions of Americans are working from home. Is there any extra consideration someone should think about if they are trying to change careers, knowing that many industries are changing right before our eyes? 

 KP: I think anyone considering a change right now needs to think about the long-term viability of the field they're interested in.  No one has a crystal ball, but it's true that industries have changed, and many jobs may never come back.  To the extent you can, a job-seeker should try to align their skills and talents with the future of work. You want to show that you are adaptable and nimble - able to find solutions to the new issues that are cropping up so rapidly.

CG: Katherine, you yourself have a wonderful transition story. Would you mind sharing with us some of the reasons you decided to transition careers?

 KP: I've transitioned a few times, actually.  My first career was in teaching - I taught elementary school.  At that time, I think it was more of a safe choice than based on any understanding of my own strengths.  It wasn't a good fit.  So then I decided to go to law school - again, I didn't totally think it through in terms of whether I wanted to be a lawyer.  As I mentioned, I love learning and it sounded fun.  And it was, actually.  In many ways, practicing law played to my strengths - being logical, analytical and a problem solver.  I stayed in law for 20 years and I still practice part-time.  I've been told I have the "wrong personality" to be a lawyer - I take this to mean that I am sensitive, thoughtful and a team player - not all of which are valued in law firm culture.  I got tired of trying to turn myself into a pretzel to fit into someone else's model of success and seeing so many other women suffering in the same way, and that is one of the driving forces behind founding my own company.   In general, law firm life fit with my strengths and talents, but not with my values and priorities.  For a long time, I fought against the system and tried to change things, but that mostly left me feeling undervalued, unappreciated and exhausted.  I knew it was time for a change.  Now I am following my own curiosity, exploring what work means to me and supporting other women who are in a similar position.  I still draw on my legal skills, just not in the courtroom.  I've become an advocate for workplaces that are truly and universally inclusive.  Gender, race, sex, religion of course, but also diversity of thought, strengths and talents.

CG: I love that story! You definitely have a warm and friendly personality that is perfect for what you do now, even if it’s not exactly the same as the stereotypical lawyer we see on TV. Thank you, Katherine, for sharing your tips with us. If anyone would like to learn more about what Katherine does, you can find her at https://thetransitionnavigator.com/ .