Home Pay off How to Make a Bold Career Change Pay Off

How to Make a Bold Career Change Pay Off

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We’ve heard of the ‘great quit’, we’re dealing with the ‘great attrition’ and the research companies have made it clear that the future of work is changing. But has it occurred to you that your professional future remains in your hands? By taking advantage of the tight job market and skill shortages, savvy workers can make bold career choices that pay off both professionally and financially.

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Covid has given the workforce an opportunity to step off the hamster wheel and see what really matters to them in terms of employment, work-life balance and future opportunity – happiness at work and societal contribution becoming more important than ever.

Currently, 80% of UK workers want their job to have more meaning, while 65% are actively looking for a role that gives them a greater sense of satisfaction, according to StandOut CV. But what if that satisfaction is found elsewhere – like in an entirely different industry? If you’ve been in your current industry for more than ten years, chances are you’ve peaked professionally.

Non-traditional experience

This does not mean that the opportunities for progression have disappeared, quite the contrary. Recognizing that you have peaked in one industry is an opportunity to put your years of experience into another growing industry where there is room for progression, perhaps a shortage of senior talent – and therefore the possibility a big salary increase.

Results from a recent PWC survey show that 48% of companies are actively seeking to move away from depending on the institutional knowledge of their employees, opening up positions to those with non-traditional industry experience. Add to that the fact that very often a move to a new industry comes with an average salary increase of 15-20% – slightly higher if you’re moving into a flagship industry like tech or healthcare – and you soon see that changing industries becomes a viable option for career progression.

Interested? Here’s how to identify your new industry and make the switch as seamlessly as possible.

Create an elevator pitch

Why do you want to move and why this industry? What are transferable skills? If you want to convince a hiring manager that your skills are transferable, you have to believe it yourself. Be honest about your reasons for moving and research the industry so you can show an understanding of future opportunities and challenges that your skills will solve. You’re selling yourself, so create a short, punchy elevator pitch.

Be industry independent

If you know you want a change, but don’t immediately recognize which industry you want to move into, take an industry-neutral approach. This is where you stay open to all opportunities and find the perfect fit by aligning your skills with those required to succeed in specific industries. Forget prejudices and stay open to everyone.

Find a springboard

Think of your career change as a stepping stone from your current role to your dream role in a new industry. The stepping stone role should complement your skills, give you the opportunity to acclimate to your new industry, network and show that your skills are transferable. It also helps hiring managers who may not have the imagination to recognize transferable skills to imagine you in a new role.

Ready to make the change? We found three companies currently operating in growing industries that are hiring across a number of roles and disciplines. And there are many more opportunities currently available on the FinTech Futures Job Board.

eClerx

eClerx is currently recruiting for a number of positions in its London office in the areas of data analytics, talent management and accounting. The company provides insights to Fortune 500 companies operating in the digital financial space. From Revolut to Monzo, how and when our banking changed and as traditional institutions struggle to keep up with market disruptors, companies like eClerx offer opportunities for growth and advancement for those interested in fintech.

View all open positions at eClerx.

UnitedHealth Group

Optum is a leading information and technology-based healthcare services company and a rapidly growing part of UnitedHealth Group. He is currently recruiting for fully remote positions in engineering, actuarial and technical support. Post-Covid, the healthcare sector is seeing an increase in employment and these roles are likely to endure and create new opportunities as they expand.

Browse open positions within the UnitedHealth Group.

John Lewis and partners

Current Marketing, SEO and Engineering Recruitment john lewis is one of the UK’s leading retailers and employs over 29,000 people in its stores and departments. Retail is currently one of the fastest growing employment sectors and as such, more and more technology and marketing professionals are turning to this sector as they see the potential for career progression in a rapidly changing industry.

Discover all the opportunities at John Lewis.


To discover opportunities in other growth sectors, visit the Fintech Futures Job Board