The Pros and Cons of Changing Careers Later in Life - Business and Career Coach Geneva

Can you change careers later in life? Will anyone hire me? Do I still have options? Did I miss the train?

I receive questions all the time during my coaching sessions. One is about age. I am already 50 years old; who am I to start my business or change my career direction? It is too late. In fact, it is what you think it is. You can change anytime you want, though, with intention, strategy, and your goal in mind. Changing for its own sake is not advisable.

So, my answer to the question is yes, you can, and you should be clear about your desire to change your company, your profession, or your business. Nothing is impossible, though not easy either. It is exciting and daunting at the same time. Changing your career later in life means quite often leaving your safety net behind, the great salary you have, your security, and stepping out of your comfort zone, which can create some sort of anxiety.

Scroll down for pros, cons and my tips for career change later in life.

5 Pros of Changing Careers Later in Life

Let’s explore the Pros and cons of changing your career later.

Let’s get started with the Pros:

1. Following your passion and purpose

I call myself a vocational architect, meaning I help you find your calling, your true self, and your why, leading you towards your fulfilling professional goals. After multiple years in the same job or organization, you have the feeling that you aren’t growing, and your day-to-day job is getting boring. This is normal as you have evolved over the years, and you are looking for impact and self-satisfaction, and life priorities have changed. Switching careers can open new connections and doors to a professional life more suitable for you and your desired goals. As I always say: Life is too short to live an unfulfilled professional life.

2. Using your transferable skills

Experience is an asset, and after certain years, you have gained multiple aptitudes that cannot replace any certificate or diploma. Therefore, in each organization and industry, humans with transferable skills and emotional intelligence are preferred candidates as they bring to the table their own learnings that ChatGpt cannot have.

3. Financial Assets

Unlike anyone who just started their career, professionals at the late stage of their career would have some savings, investments, and potentially a partner who is working, which can serve as a cushion during the transition period to a more fulfilled professional life.

4. Your network is your networth

After multiple years of working, whether inside or outside the organization, professionals have a great network built around them that can serve as sponsors to a new career path. As you have gained trust, credibility, and visibility, referrals and recommendations are easier to leverage than for a new job seeker. Trust your inner circle.

For more insight on how to do that, check out my free resource: https://innkick.com/free-knowledge-boosters/#networking

5. Work-Life Harmony

Many who seek career change later in life seek a better work-life balance. As life priorities change, as an experienced professional, you have more freedom to choose a domain or job that can allow you the time you need for yourself, your hobbies, and families.

5 Cons of Changing Career Later in Life

Let’s explore the other side: the cons of changing your career later in your life.

1. Starting over

The setback of starting in a new domain, industry, or profession might be that you need to take on a more junior role. If you move into an entirely new sphere, you might even need to accept a lower salary until you gain experience, which can be discouraging.

2. The learning curve and skill gaps

A new domain often requires new skills, certificates, or even degrees. Returning to the drawing board, to university, or attending training courses might feel time-consuming, and a monetary investment is required. In addition, adapting to new company culture, new industry, and peers might take longer than expected. After all, it is a transformation you must go through—a new life.

3. Ageism

I am sure you have heard of that term—unconscious bias against your age. Although companies hold diversity and inclusion as one of their values, sometimes you might be confronted with comments about your age. Companies might prefer young professionals who they think will stay longer; they can mold them as they wish, and the critical factor is that they start with a low salary and lower expenses for the company overall. 4.

4. Uncertainty

A career change later in life is an adventure, and there is no guarantee that you will get what you want with that change. It might feel like you are leaving your comfort zone and your secured salary that you get each month. It is a risk that you might want to take when you are sure about your career move.

5. Emotional Stress

Shifting your career can be stressful. The fear of failing, imposter syndrome, and the societal pressure of family and friends who doubt your decision adds to the mix of self-questioning.

Let’s move to a more positive outlook. Below are some tips for a successful transition.

Tips for a successful career change

Assess your strengths and skills. You start with a self-inventory, like your personal SWOT analysis or personal map. You can always consult me for the start.
Do your research – what are the trends, and what is happening in the new landscape?
Use your network and create new ones – besides your existing network, explore other ones that pertain to the industry you want to move into, get to know different people
Skill gap—Once you know your industry and your existing skills, see what is missing and what you need to learn to be more competitive. You do not need to waste too much time on it either, as there are many ways to upskill yourself.
Prepare for Interviews—You might not have been in interviews for a while. Get new knowledge on how interviews are conducted, what a CV needs to look like, and what questions are asked nowadays. Have your personal branding ready.
Be financially prepared—you never know when it might take longer than anticipated to find a new job or create your own business.
Adopt a growth mindset—stay open to new ways of learning and working. Embrace each challenge and see what you can add to your toolkit.

It’s Never Too Late to Change Careers

Changing careers later in life is a courageous, bold, and rewarding decision. It requires careful planning, strategy, focus, and determination. You also need to show patience and passion.

While challenges exist, the opportunity to pursue meaningful work, leverage years of experience, and create a more fulfilling professional life makes the journey worthwhile. With the right strategy and mindset, you can successfully transition into a career that aligns with your evolving goals and aspirations.