Is there an age which is too old to make a career change? How do you manage the reality of a pay cut when you pivot, especially starting over at an older age when life gets complicated?
– Media executive
The only way you’ll be able to make a pivot is if you believe it’s possible. If you can’t see yourself in your new career, then you won’t ever start or you’ll give up too soon. The question manages to capture five of the most popular myths that keep people from making a change and going after their dream career, so let’s unpack each of them:
Myth 1: You’re too old
Is over 50 too old to be a hypergrowth startup entrepreneur? Gail Becker was 52 when she went from PR executive to starting a cauliflower pizza crust business. She hit $500 million within five years. As a recruiter who was privy to thousands of career paths, I saw plenty of people who found success in their second or third roles or industries. For example, I hired a regional head for an investment firm that had started her career in various admin roles (even a short stint in acting). There isn’t an age limit on successful pivots.
Myth 2: You have to take a pay cut
You may have to take a pay cut if you go from a higher paying industry to a lower one, or if your new role can’t use any of the skills and expertise from your previous one. But sometimes, your pay actually goes up. I coached a middle manager who went from media to life sciences and got a double-digit raise in the process. Or, sometimes you can soften the blow because the structure of the compensation is different. I once coached a financial services executive who lost out on the big banking bonuses once she left her hedge fund work, but her base salary in her new field of education actually went up slightly.
Myth 3: Life is too complicated – there isn’t enough time
The media executive who inspired this career change question asked about career change “when life gets too complicated”. I’m not sure what they meant but many people equate complicated with busy – i.e., not enough time to work on their career change. Have you kept a Time Diary and actually tracked your time? Too many people assume they don’t have enough time but they are actually frittering away valuable hours on activities that aren’t valuable or meaningful. Or, they are wasting time fantasizing about wanting something different, rather than going for it. You can get started on your career change even if you’re still at your current job.
Myth 4: Life is too complicated – family obligations take all of my spare time
Maybe this media executive meant that life is complicated because of other people and the obligations they bring. I once had a client who insisted they couldn’t do the networking, branding and market research I recommended because they had a spouse and kids at home, so best to focus on the current job. Well, that job went away, so now they still had to do the networking, branding and market research to make a career change, so they could keep taking care of their family. Your career change efforts add to your family; they don’t detract.
Myth 5: Life is too complicated – I can’t squeeze in more school, extra work, etc.
Sometimes the “life is too complicated” excuse is about not having enough bandwidth for whatever activity the person thinks is required for a change – e.g., going back to school or starting a side hustle. More school and more work might be helpful, but there’s no one playbook to make a career change. If a graduate degree is out of the question (and you should ask these 10 questions before defaulting to grad school as your career change strategy) then do something else. Take a class, not the whole degree. Take on a side project, not an entire new business. There are many ways to start on the path to a career change, and they don’t have to be complicated (here are 10 exercises and prompts to get started).
Whatever steps you take, start with believing in your potential to change
Spend a few minutes every day imagining yourself in your new role, at your dream company or in your perfect workspace. Feel how excited you are. Feel the fulfillment and satisfaction. Feel how eager you are to start your day. Let that emotional momentum get you started.
