6 Reasons to Take a Salary Drop

Not everyone is motivated by money but it’s still an important factor when deciding on a job or career. It’s natural that people want to be paid what they’re worth, and they will expect their salary to grow as they gain more skills and experience.

However, there are some situations where choosing to take a drop in salary is not only acceptable, but it’s actually the right move in the long-term. Here are some examples:

Career Change

Moving into a completely different line of work may mean that you must start all over again. Being at the bottom of the ladder may mean a lower salary than you are used to but at least you’ll be working towards the career of your choosing, if not your dreams.

Returning to Studies

Going back to college or university (or going for the first time) may feel like a backward step, but it’s only a temporary measure. While you will have fewer opportunities to earn during the period of your course (due to studying, exams etc), achieving a new qualification will hopefully benefit you more in the long-term.

Dropping Hours

Creating the perfect work-life balance isn’t always easy and sometimes, something has to give. While some workers lose out financially by making a small reduction in the number of hours they work, they gain by having peace of mind and more control of their lives beyond the workplace.

Changing Shift

Some roles provide allowances for working ‘anti-social’ hours, such as weekends or nightshift. While the additional financial rewards will be welcome, permanently working such shift patterns can be mentally and physically demanding. Moving to a role with more ‘traditional’ hours may be more beneficial to some than the increase in their salary.

You Want Less Responsibility

There may be points in your career when you decide that it’s time to take a step back. It may be that a senior management role or some other demanding post that could also include long hours, high pressure or extensive travel. Amending some of your duties, or changing job altogether, could be the answer.

You’re Miserable

If you find yourself deeply unhappy because of your job, to the point where it impacts on life away from the workplace, then it’s time to act. Moving to another post may result in a lower salary, but if it benefits your mental health, then it’s for the best.

New Job or New Career?

“That’s it! I’ve had enough.”

After another awful working day, you’ve decided that it’s time for a change. You’re ready to move on and leave your current employer behind.

While there’s nothing wrong with that way of thinking, it’s important to know what type of change you need. Is moving to a new organisation for a similar role enough? Or is it time to consider a full career change?

The following factors will hopefully steer you in the right direction.

It’s Time for a New Job When…

You don’t like the organisation

It might be the culture, the terms and conditions or the actual working environment. Some people love their job while hating their employer.

You don’t like the people

Not every workplace is one big happy family. If you don’t get on with your colleagues or the boss is a nightmare, it’s time to move on.

Location is a problem

A long commute can be a nightmare, particularly with busy roads or poor public transport. For others, working from home can be the problem.

There’s a glass ceiling

You’re ambitious and want to progress but you always seem to be passed over for promotion opportunities. There’s only so much rejection one person can take.

It’s Time for a New Career When…

Boredom has set in

It’s Groundhog Day. Every task, every aspect of your working day feels like a chore. And you know you would feel the same performing that role at another company.

You’re not enjoying what you do

People change. As you get older your values may change and you could become less comfortable with what you do for a living.

You’ve seen something else

If your head has already been turned and you’ve seen a shiny new career that appeals to you, then you may already know where your future lies.

You’ve looked into the future

“Where do you see yourself in five years’ time?” If the answer isn’t where you are now, then it’s time to think about doing something else.

11 Transferable Skills for Career Change

Transferable skills (sometimes referred to as ‘portable skills’) are abilities, behaviours and knowledge that can be used in multiple situations, such as working in different jobs.

They are essential for anyone who wants to make a successful career change. When you don’t have experience in your target role or industry to fall back on, being able to demonstrate that you still have the necessary skillset is a must.

The importance of each transferable skill depends on the job. However, the list below highlights some examples which are vital for a variety of occupations.

Written Communication

An obvious place to start. Report writing, blogging, emails, presentation creation, newsletters, press releases…the list goes on. Being able to express yourself on paper, or on screen, is vital for so many roles.

Verbal communication

As above. Whether you’re a call centre advisor, a newsreader or a car salesperson, being clear and articulate can lead to many opportunities.

Negotiating

It could be arranging for a debtor to pay back money, ironing out the terms of a large contract or arranging to second staff from another department within the same firm. Regardless of the circumstances, being able to show that you can negotiate will make you a more employable candidate.

Complaint Handling

Every organisation gets it wrong sometimes. And even when they don’t, some customers are still unhappy. So, the ability to either resolve issues or explain why the customer isn’t always right can prove invaluable.

Customer Service

Whether they’re referred to as customers, clients or any other term, the way they are treated is vital to the wellbeing of any organisation or industry. That goes from the basics of a warm and friendly greeting on the phone or face-to-face, to going the extra mile to complete an order or keeping the customer happy.

IT Skills

Word processing packages, spreadsheets, presentation programmes, databases, content creation systems and customer relationship managers. All used daily by a wide range of companies.

Adaptability

A quality that’s always been important, but never more so than in 2020. Coping with changing tasks, roles and working environments is a huge advantage for any career changer.

Time Management

When you move into a completely different line of work, it may take time to settle. Being able to prioritise your workload while meeting deadlines will be a massive plus in the early days.

Leadership

While the job itself will be new, many of the qualities required to be a successful supervisor or manager will be the same.

Numeracy

It could involve counting cash, bookkeeping, budgeting or carrying out calculations. Mathematical skills are important for so many careers.

Data Analysis

Linked to numeracy, the ability to interpret data and then use it for the benefit of your organisation is a huge asset when looking to change careers.

Taking Control of Your Career

Every had a moment at work where you looked around and wondered how you got there? Perhaps you had never expected to be with that company, working in that job or involved in that industry.

No, it isn’t a sign of amnesia, more likely it’s an indication that you have lost control of your career.

Some people map out their futures at an early age and then follow their plans to the letter. But, for others, everyday life takes over and they find themselves almost falling into jobs without any real thought or planning.

Sometimes, this approach works. You are lucky to have stumbled upon something that you enjoy, are good at or for which you are well paid.

But when you have the realisation that you’re in the wrong job or career, or you haven’t progressed as you’d hoped, it’s a horrible and helpless feeling. You need to do something…but what?

Here are seven steps that can help you to regain control of your career.

Accept Responsibility

You can’t change the past, but you can certainly influence the future. No matter how you managed to find yourself in a career dead end, acknowledge that it’s up to you to find your way out.

Decide What You Want to Do

The easy bit is knowing that you want to make a change. The tricky bit is knowing what that change is. Think carefully, make a decision and go for it.

How are You Going to Get There?

It might involve studying for a qualification, gaining more experience, working harder…or all three. To reach the promised land of your chosen job, set yourself goals to help you along the way.

Include Others

Don’t be shy about your plans. Tell your partner, relatives, friends and, if it helps to achieve your ambitions, tell work colleagues. Sharing your intentions with those around will feel empowering.

Stick to the Plan

Your desperation to do something different could lead you to apply for any job that helps you escape your current situation. Resist this urge and only go for positions that interest or excite you – or you’ll find yourself in a similar predicament before long.

Be Flexible

While clearly defined goals are important, be prepared to tweak them every now and then. On your career journey you may discover other opportunities that appeal to you more than your original target.

Don’t Give Up

Taking control of your career should lead to a more rewarding working life – but it won’t happen overnight. Stay positive in the face of any rejection of disappointment and continue towards achieving your hopes and dreams.

Low Cost Ways to Retrain

With Coronavirus continuing to dominate everyday life in the UK, some people will find themselves with more spare time. That may be a result of being unable to work from home or because their social lives have come crashing to a halt.

Regardless of the circumstances, the current ‘lockdown’ provides an opportunity for anyone who is interested in retraining but usually wouldn’t have time.

Learning something new in order to change careers isn’t always easy. Many qualifications, degrees and some professional awards can be expensive.

But while a lack of finances can make finding the right course more of a challenge, it shouldn’t mean that it’s an impossible task.

Here are four ways to retrain without breaking the bank:

Sign up for a Course

There are many organisations providing short courses (sometimes free) on a wide array of subjects. Visit the websites of Future Learn, Open University, Reed and others to find out more.

If you’re looking for something a bit more challenging (and long-term) then online degrees are also available. The Open University also excel in this area and, depending on your income, you may not have to pay a penny.

Gain Some Experience

Volunteering is always a good idea but it’s even more important in the current climate. There are all sorts of ways you can make a contribution to your local community or some other good cause.

As well as the satisfaction of lending a hand, a volunteering role on your CV can demonstrate work experience in your chosen field and how keen you are.

Train Yourself

Not every job or career requires a degree or other formal qualification. Sometimes, showing how talented you are is more important.

Anyone interested in freelance writing or photography could start a blog or build a portfolio. When it comes to finding work, showing your previous efforts is far more likely to be of use then a certificate. And if you do need any help with the theory behind your role, there should be enough articles online to answer any questions you have.

Have a Side Hustle

Most career changes don’t happen overnight. In many cases, they are slow processes, coming after a lot of hard work and a few setbacks along the way.

That’s why starting off slowly, and working your chosen career as a second job, can be a great idea. You gain valuable experience while still having the security of your boring old full-time role.

Deciding on a New Career

A career doesn’t have to be for life. Many people, for all sorts of reasons, decide that it’s time to do something different with their working lives.

And it doesn’t have to happen in your 20s. Many people make the big switch in their 40s or 50s. But more about that another time.

Whatever age you are, here are five steps to help set you on the path to a happy new career.

Identify what Motivates You

Before deciding what you’re going to do for a living, you need to work out what you want out of a new career. For some, it’s all about the money, while others want job security.

Others are following a dream or turning a hobby into a profession. Then there are those who want a sense of fulfilment and get a kick out of helping others.

Recognise Your Talents

Everyone has skills and abilities and knowing what you are good at should play an important part when deciding on your next role. Some talents are immediately obvious while others require a bit of thought.

Examples may include soft skills like assertiveness, negotiating or presentation skills. Hard skills, meanwhile, could be speaking a foreign language, bookkeeping or being able to use a specific IT packages.

Try Different Things

It’s ok to have a list of possible career choices – options are always a good thing. But to help you to make an informed decision, it’s not a bad idea to dip your toe in the water.

Volunteering, studying, reading online profiles and making contact with people or organisations relevant to the career you are interested in are all great ways of helping you decide what you want to do.

Decide if Your Career is Achievable

Having dreams is great but it’s important to keep a sense of realism when choosing the next step in your working life. For example, if you’re in your mid 40s the chances of a career in professional football are looking unlikely.

Take a step back and be honest with yourself. If you have any chance of making it in the career you have in mind then go for it. If not, then it’s time to reconsider.

Work Out How to Get There

For some professions, a degree is a must. The only decision to be made is whether full-time study is required or if there are part-time alternatives.

Other career paths are not so straightforward. Sometimes, getting your foot in the door at a suitable organisation is every bit as useful as a qualification. As mentioned above, volunteering can also be a great way of starting out in a particular industry.

Consider Other Factors

Many of these factors will be financial. Will changing careers involving starting in a bottom of the ladder position with a lower salary? Or how will your fund your studies and support yourself and any other dependants.

There are a host of potential sacrifices. If you’re studying and working at the same time, when do you plan to spend time with you other half and your kids? And are you prepared to scale back on you social life and leisure activities?

Transform Your Career in 2020

Many New Year’s resolutions involve jobs or careers. While some aim to find work, others will want to change employer or move towards the career of their dreams.

As we say goodbye to 2019 and hello to 2020, there are numerous ways to improve your career prospects and make yourself more desirable to prospective employers. Here are some suggestions:

Study

While a university degree is a welcome addition to any CV, there are shorter less expensive modes of study.

In some cases, a short online course or a professional qualification can be every bit as effective, depending on the line of work.

Secondment

Ready for a new challenge but reluctant to let go of your current job? A secondment could be the answer. Many large organisations require people in short-term roles for reasons including maternity cover, specific projects or pilots.

So, you gain an insight into a possible new field with the security of your own job to fall back on, should things not turn out as planned.

Volunteer

It can be difficult to make a career switch when you don’t have any relevant experience of the industry where you see your future.

Offering your services to a charity or other good cause can be a massive ‘win-win’. You take your first steps in the profession of your choice and feel good at the same time.

Go for Promotion

How many times have you looked up from your desk at your line manager and thought, ‘I could do that job…easy’?

Next time the opportunity arises, put your money where your mouth is. Whether it’s a first supervisory post or a move up to senior management, taking the next step on the ladder can be a massive boost to your confidence, level of responsibility…and salary.

Speak Up

In an ideal organisation, the people who get ahead are those who keep their heads down and quietly go about their business. But real life isn’t like that.

Sometimes you have to raise your voice to tell the world (or the people you work for) what you have to offer. If you want promotion, a sideways move or additional duties, use appraisals, feedback sessions, networking events and any other opportunity to tell management what you want.