It is natural and becoming more common in today’s employment environment to feel the need or desire to switch jobs throughout your career. Changing jobs can bring newfound professional satisfaction and fulfillment—two things everyone deserves in their careers. 

However, determining if you want to leave your current job to pursue a new career goal is a big decision that’s often difficult and requires a lot of deliberation. 

Whether you’re beginning the interview process for a new role or just starting to scope out prospective employers, there are a lot of important factors to consider when searching for a job that meets not only your immediate needs but also your long-term goals. Here are a few key areas to thoroughly consider when faced with a possible job and/or career change:

Compensation

Your job is meant to provide you with a means to afford your lifestyle. Make sure a change of employer or position doesn’t mean a decrease in your quality of life.

I recommend taking a good look at your current income and monthly expenses to understand your overall household cash flow. Then, do your research to see what the anticipated compensation is for the roles you’re interested in pursuing. Do they align with your needs?  If so, determine your salary expectations so you’re prepared to share when asked in an interview.

Employer-Provided Benefit Package

There are standard benefits that most companies will offer their full-time employees: medical insurance, a retirement plan, paid time off. In addition to these common benefits, companies may offer additional benefits and perks to support their employees, encourage tenure, and attract new talent. These may include:

  • Educational benefits to help you pursue a degree or additional training
  • Covering the cost of professional development opportunities or organizational dues
  • Offering a wellness program or gym membership stipend to support your  health and well-being
  • Hosting a perk center that offers discounts to employees at chosen retail establishments

These may seem like minute details, but they definitely play into your job satisfaction and perception of your new employer’s professional atmosphere. Because these perks are helpful in the recruiting process, they are often published on the company’s website so you can see what may be available to you while you’re researching positions.

Flexibility

A flexible work environment is currently a big topic of conversation. Now more than ever, employees want the option to have a flexible schedule and flexible working hours to support their work-life balance and overall well-being. It’s essential to determine what is most valuable to you as an employee and what will best support you in the season of life you’re in. 

While one company may offer you more compensation, if they require you to work in the office five days a week and your commute time is over an hour, is that really worth it to you? Consider working arrangements like remote work, in-office, or hybrid, and determine what your ideal working environment looks like before making any final decisions.

Don’t be afraid to ask for help

Make an effort to network with people in the industry or company you’re thinking of transitioning into. Find out all you can about what the day-to-day activities look like to determine whether it may be a good fit.  

A career change requires a lot of emotional support, so don’t hesitate to lean on friends and family. You may even consider engaging a coach or mentor who can provide an objective, professional viewpoint.

A career transition is a lifestyle redesign that often entails rethinking how you want to feel at the end of the day, how you want to spend your time, and how this relates to your long-term goals. When you feel this need for change, it isn’t necessarily related to a fancier title or more money, but your inner voice whispering that you could do more, be more, experience more, and achieve more. 

Determining whether or not to pursue a change of this magnitude requires detailed consideration of many factors and a thorough assessment of your overall portfolio.  Your team at Signature is here to help you every step of the way!

Written by Michael H. Milarski, CFP®, CLU®
Partner & Senior Advisor