7 tips for a successful mid-life career change.

1. Understand what is driving the desire for change.

   Do you long for a new role in the same field or a new industry altogether? Do you want different challenges or responsibilities? Take the time to examine your priorities, values, interests and skills. A career coach and online self-assessment tests can also help you assess skills and personality traits as you make your decision. 

2. Research and analyze.

   Conduct thorough research on the industries and roles you’re interested in, how competitive the market for talent is in those areas, and how realistic your prospects are. Talk to friends, colleagues and other people already in or connected to the field you’re pursuing and ask them about pros and cons. Consider joining industry associations, attending local events and conferences and reading trade journals. You can also find recruiters in pertinent industries who will give you an honest assessment of your chances in transitioning. The more deeply you understand the job market, the more easily you’ll be able to make informed decisions about your career change. 

3. Identify transferable skills and new ones you’ll need to acquire.

   Examine your work experience and current skills. Can you transfer these to a new career or will you need additional training, education or certification? Consider the investment — both in terms of time and dollars — that will be required if you need to further your education. As you review your skills, talents, and interests, consider what you enjoy doing most, what you’re good at, and what motivates you.

4. Consider the financial implications.

   Do you have the financial resources to support yourself and any family members who rely on your income as you make a career transition? Will you start at a lower salary than you’re used to? Will you have to pay for additional training or education? If you’re starting a business, consider how long it will take to be profitable. Meeting with a financial planner can help you determine if your plan is financially realistic and if you will still be able to stay on track with your retirement goals. 

5. Tailor your resume and cover letter.

   Customize your resume and cover letter to highlight relevant experiences and skills for the new career. The more experience you have, the more ways you can present yourself, so consider having multiple resumes for different fields, departments or areas of focus where you can showcase how your past experiences make you a valuable candidate in your desired field. Research the latest trends in resume writing, and ensure that the documents you submit through online application forms adhere to the latest recommendations. Many companies now rely on AI to screen candidates, so make sure that you include keywords that are pertinent to the job you’re applying for in the resume you submit; Applicant Tracking Systems are designed to weed out those who do not appear qualified to the specific role.

6. Embrace lifelong learning.

   Today’s job market is constantly evolving, and staying updated with industry trends is crucial. Embrace a mindset of lifelong learning, find podcasts and thought leaders you appreciate in the fields you’re interested in, be open to new challenges, and remain adaptable to changes in your chosen field.

7. Find your ikigai.

   Ikigai is a Japanese concept referring to something that gives one a sense of purpose — a reason for living. The idea is to find a career that incorporates what you love, what you’re good at, what you can be paid for, and what the world needs. If you can find a role that meets all four criteria, you’ve achieved ikigai!

Going after the career of your dreams later in life can be a rewarding experience. And with patience and planning, you can make a successful mid-life career change — while staying on track with your financial goals. Contact your local Commerce Bank branch to discuss financial planning, retirement and other saving goals as you plan your career transition.