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Millionaire Money Habits

May 13th, 2009 at 6:50 am

Making a Career Change During a Recession


As the economy continues to slump, you may notice your workload continue to rise.  Your company may be experiencing a number of layoffs and cutting costs wherever possible.  With fewer funds to go around and less people to get the job done, you might be expected to take on more responsibility.  Perhaps you already don’t like your job, and being overworked for the same pay, or maybe even less, is not helping you keep a positive outlook and you’re considering a career change.  But is now the best time?

Consider your current position…

  • Are you being paid what you know you’re worth?
  • Are there desirable advancement opportunities?
  • Does your company offer or encourage continuous training to expand upon your skills as well as learn new ones?
  • How is the balance between your work life and your personal life?
  • Are you currently on the career path you always dreamed of?  If not, now can certainly be a great time to make a change if you take advantage of every opportunity you can find.

The current job market is tight.  There are not many openings and too many candidates.  You need to make yourself stand out even more right now.  Highlight your unique skills on your resume.  For example, are you organized?  Dependable?  Great-but so is everyone else that’s applying for the same position.  What have you done that proves it?  List successful projects you have completed for your current employer and use that as an intro to what you can accomplish for the company you are applying to.

Maybe you’re like me.  You have the degree you want, you have the ambition and the drive, but your portfolio is rather small and will definitely not help you stand out in the crowd.  Take this time to build upon your skills.  Try to find freelance opportunities in your field.  Websites like sologig.com and odesk.com offer a wide variety to choose from.  You’ll even make some extra cash.  Odesk also provides tests for you to take and will show the results on your free profile.  The tests can be used to show potential employers what your skill range is, and maybe show you where some of your weak spots might be.  If you find a weak spot, do your research.  Maybe you’ve forgotten a simple concept that you used to understand, or you’ve encountered a phrase or technique that you’ve never heard of.  Take the time to learn everything you can.  Consider taking some professional development classes that you can add to your resume.  Many colleges offer programs for people that work full-time and that will allow you to attend classes at night, only on weekends, or completely online.

You can also build your portfolio by searching for a part-time position or even an internship in the field you want to pursue.  They’re not just for college students anymore.  True, you will only be increasing your workload yet again, and now it’s on what used to be your personal time.  But if you don’t do it now, when will you?  If a career change is what you really want, you must do your homework and put in your time.

Whether your dream is to run your own business or simply to work in a different field than you’re currently in, there are certainly risks in this market.  You may need to use your free time to enhance or prove your skills.  You may find what you’re looking for but have to accept less pay that your current job.  Consider it all an investment for your future.  If you can stay one step ahead of everyone else looking for the same position, a tight job market just might not be an obstacle for you.

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  • Recession Proof Career
    5:55 am on June 3rd, 2009 1

    Just wanted to add a small tip on creating a recession proof career. It would be a good idea to plan out your career or business by considering government contracting. This is a very lucrative financial opportunity that can help you stabilize financially and increase your income flow if it is done the right way.

    If this is something that you are interested in to put an end to your financial worries, get yourself registered with the Central Contractor Registry which is a federal clearing house for vendors and small businesses too. Also identify a product or service that you can supply to the government and which the government needs in order to get a contract.

    You can win such billion dollar contracts and secure your career or business better even during this phase of recession.

 

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