Why you don’t always need to take a pay cut when changing career.
Frequently, people say to me when they start working with me on their career change, “I know that I will need to take a pay cut to transition into a new career”. However, here is why you don't always need to take a pay cut for career changes.
This was the story of one of my clients, Mike. Mike said to me before we started working together, I know I will need to take a pay cut. However, after working together for 4 months on the Change Career with Clarity & Courage Programme Mike landed himself a new job. In a different industry, in a role that fits his values and his non-negotiables (the things that are important to him in his career).
Not only did he land this new job, but it was also at 13k higher than he was willing to go down to. Furthermore, it was 20% higher than his current salary!
Here are a few reasons why
Friends, colleagues and family can help you find a new job. Although it may not seem like it at first, your network of friends and colleagues and family has tremendous value. This is how Mike transitioned, his friend who knew of a role sent him the recruiter's details. As simple as that. Your network can help you discover job opportunities that aren’t advertised. For example, someone who works at a company you’re interested in that mentions they are hiring but hasn’t put out an ad yet.
A strong network could also help lead the way in career changes in terms of knowledge: If someone knows something about a particular industry or company culture that may be helpful to know before interviewing there or getting hired there. They might share this information with you (if they feel comfortable doing so). This is especially true if they have been through the process themselves. For example, if they have recently made such a change themselves and have advice for making things easier on themselves as well.
You already have the skills that make you great at your job
Another reason why career changes don’t always require taking a pay cut is that you do already have a skill set and this is often very transferable and people can see this.
Your strengths are a valuable asset
You can use your strengths to your advantage in career changes. If you're struggling to find career changes that will put you back on the path to success, focus on what you're good at Your strengths are the things that make you great at what you do. They're skills that help get you hired and keep your job. Not necessarily the things that give you pleasure or fulfillment (those may be interests). If there's something missing in your current career path, using your strengths as a starting point will help guide you toward finding work that suits both who are and how well suited for it.
Hiring managers may be impressed by your hard work.
Hiring managers may be impressed by your hard work. If you can prove that you’re willing to do whatever it takes to get the job done, hiring managers are more likely to see you as a valuable asset who deserves increased compensation.
You could also try talking to your boss about how you could be compensated more. If there isn’t room for an increase in salary, there may still be ways that they can reward your hard work in other ways. Whether that means getting promoted sooner or receiving some bonuses on top of your regular paycheck.
You can try to negotiate your salary higher
You may be able to negotiate your salary higher.
If you are thinking about making the switch from your current position, try negotiating a higher salary offer than what you currently make. You will need to do some research about the company and their financial situation before asking for more money. Be prepared to explain why you deserve it when they ask why they should pay more than your current employer is paying you now. If they say no, have a plan in place for what happens next.
Your attitude matters
You are an asset, you have a lot to offer. You deserve a better situation than what you're currently in, so why not start believing it?
In fact, if you start believing that your positive attitude is worth more than what you're getting paid right now. Then it's only a matter of time before someone realizes how valuable these qualities are!
To conclude, you don’t always need to take a pay cut. You have skills, experience and connections that can help you get hired at another company. And the more confident you feel about yourself and your abilities. The easier it will be to land that dream job!
If you are interested in working with a Career Change Coach, here are your options!
Join my Change Career with Clarity & Courage programme. This is a 5-6 month course of 1-to-1 coaching to help you make your dreams a reality.
Book your free clarity call today. This is a FREE 30-minute consultation.
Investments for this course range and are explored more on the booking page of your consultation.
Sarah is a Career Change Coach. She helps women breakthrough and pivot in their career. Whether you're not networking, developing your own work or side hustle! Stop feeling like you don’t know where to start and reach out!
Sarah has a Masters in Psychology and is both accredited by and a member of the British Psychological Society. She has experience working with the military and corporate sector in recovery, transition, leadership, and mentoring.