The good news is that there is always time to pursue your passion and embark on a new career journey. This comprehensive guide walks you through the steps to successfully navigate a career change at 40.
Explore the best industries for starting anew, and share inspiring real-life success stories. So, let's dive in and discover the exciting opportunities that await you in your new career chapter!
How to change careers at 40 or any age
Whatever the age, but particularly if you're considering a new career path at 40, you should always consider these key factors:
Assess your current job, is it a career, or could it be? Ask yourself, are you on the right path? Do you need a new job? A career switch, or can you reinvent yourself? Think about why you're unhappy - are you missing out on work-life balance? Is your job affecting your mental health?
Seeking a career transition is not unreasonable because everyone wants to be on the right career path at different times. The trick is not changing job titles too often and appearing flighty.
Getting excited about the possibilities is part of professional life, or at least it should be. Professional growth only happens with change.
So let's start assessing your career options, put together a successful career pivot, and decide if you need to upskill to get a lucrative career.
Analyzing your current job satisfaction
Job satisfaction is crucial for your happiness and well-being, especially as you juggle family and financial responsibilities.
According to a Society for Human Resource Management (SHRM) study, 48% of employees cited job satisfaction as the most critical factor in their decision to change careers. To assess your job satisfaction and understand if you are in the wrong career, consider the following questions:
- Does your current position make you happy, and can you fulfil your family obligations?
- Do you feel valued and appreciated at work, or are your efforts going unnoticed?
- Are you passionate about your job, or has it become monotonous and unfulfilling?
- Are there opportunities for growth and advancement in your current role that can lead to increased financial stability?
- Do your current skills boost your mental health? Is your professional life promoting your sense of well-being?
If you answer "no" to most of these questions, it might be time to consider that you're in the wrong career and that changing careers to suit your evolving priorities could solve your problems.
Identifying your skills and interests
When contemplating a successful career change, it's essential to identify your current skills and interests to ensure a smooth transition into a new field that aligns with your preferences. Reflect on your past experiences and achievements, and consider the following:
- What are your strongest skills, and how can they be applied to a new career or even your own business that offers better opportunities with more responsibilities and financial stability?
- What are your interests and passions outside of work, and how can they be incorporated into a job search?
- Are any industries or job roles aligning with your skills, interests, and priorities?
For example, suppose you have strong communication and problem-solving skills from your current role as a project manager. In that case, consider transitioning into a consulting or training position in a different industry that offers more flexibility and higher earning potential and considers your desired retirement age.
Recognizing the need for a midlife career change
A midlife career change can be daunting, but it's essential to recognize when it's time to make a move that better aligns with your current priorities. In a study written by the American Institute for Economic Research, 82% of respondents who made a midlife career change reported being happier in their new roles - Here are some signs that it might be time for a different career:
- Feeling stuck or unfulfilled in your current role, with no room for growth or increased income
- Experiencing burnout or chronic stress from work, affecting your personal life and family relationships
- A desire for more flexibility to accommodate family obligations or personal passions, and achieve a better work-life balance
- A lack of growth or advancement opportunities in your current industry, hindering your financial stability
If you resonate with these signs, it's worth exploring the possibility of making a career change or considering changing jobs that better suit your transferable skills.