If you're considering changing careers, you're probably already thinking about money. It’s natural, as we need to ensure our needs (and those of our dependents) are prioritised – depending on your situation, your financial obligations might be the only thing holding you back from making a change.
Firstly, I’d advise creating a financial safety net for yourself. Do the math and calculate how much ‘time’ you have in your bank account, and how much you’re willing to spend. When I decided to change careers, I was willing to use up to half of my savings to simply explore what I wanted to do next.
Secondly, don’t burn bridges when leaving your current job. Leaving on good terms doesn’t necessarily mean you’ll have to return if things don’t work out, but it’ll help you feel more secure when you do take that first step, if you know that going back is always an option – there’s no shame in that.
Lastly, you don’t have to go it alone. While this is ultimately your decision, talking about it with someone can help you get to the bottom of what you really want. This might mean leaning on your partner, your parents or your best friend, or seeking out someone objective, like a career coach or therapist. Chat about your goals and ambitions, listen to their advice and map out a plan that works for you.
In the wake of the pandemic and the Great Resignation, we've been seeing high turnover and skills shortages in the Australian workforce. This means it's a good time for employees to be asking for higher wages, more benefits and more flexibility – or to start taking those small steps towards an entirely new career.