Table of Contents
- Career pivots vs. Financial stability: You can have both
- Know what matters to you
- 7 smart money moves for your career change
- 1. Get crystal clear on what you want
- 2. Do a financial health check
- 3. Make your move without quitting cold turkey
- 4. Get paid to learn instead of paying for another degree
- 5. Use your existing skills as leverage
- 6. Network with people who've done it
- How to networking for UX designers:
- 7. Play the long game
- One step at a time
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Career pivots vs. Financial stability: You can have both
Making a career change is already daunting but adding financial worries into the mix will make it feel like it's downright impossible.
Maybe you've been dreaming of breaking into tech, switching to a creative field, or pursuing that passion project. And then reality smacks you in the face: the mortgage, the car payments, the kids' tuition, the student loans, and that oh-so-tempting comfort of a stable paycheck.
But here's my take: You don't have to choose between career happiness and financial stability. A well-executed career pivot doesn't mean taking a massive pay cut or putting your family's future at risk.
You just need a smart, strategic approach.
Know what matters to you
Before diving headfirst into a career switch, it's crucial to reflect on what truly matters to you.
A successful pivot isn't just about escaping a job you dislike; it's about moving toward a role that aligns with your strengths, interests, and long-term goals.
Here are some essential questions to guide your decision-making:
- Who do I admire professionally, and why?
- What kind of work environment allows me to thrive?
- Where do my skills naturally fit in today's job market?
- What aspects of my past or current job(s) drain me the most?
- What aspects of my current or past jobs have energized me the most?
- What industries or roles seem completely unappealing to me, and why?
- What unique skills or strengths do others consistently recognize in me?
- What are the most impressive (and difficult) accomplishments on my resume?
- If I could fast-forward five years, what new skills or expertise would I love to have mastered?
- If there were no limits, no financial worries, and no fear of failure; what three careers would I explore before retirement?
Reflecting on these questions can give you clarity and direction before leaping. For a deeper dive into career pivot considerations, check out this insightful Harvard Business Review article.
7 smart money moves for your career change
1. Get crystal clear on what you want
Before you jump ship, you need to be absolutely sure about where you're going. The biggest financial mistake people make during a career pivot is moving without a plan.
Steps to take:
- Define your end goal. Are you switching industries entirely or just moving into a different role within the same field? Be specific.
- Understand your "why." Are you burned out? Do you want more flexibility? A higher salary? Your motivation will keep you going when doubts creep in.
- Assess the financial implications. Research salaries in your target field. Will you earn more, the same, or less? If less, how long until you can match your current income?
If you're not sure what you want, you're not ready to pivot yet. Spend time talking to professionals in your target industry, taking courses, or shadowing someone before making any drastic moves.
2. Do a financial health check
Money worries are one of the biggest blockers to career change. A brutally honest financial assessment is the strongest way to combat that.
Steps to take:
- Calculate your monthly expenses. Mortgage, rent, insurance, groceries, debt payments. Everything.
- Assess your savings. Do you have an emergency fund? If not, start building one ASAP.
- Identify areas to cut back. Are there non-essential expenses you can reduce while you make the transition?
- Plan for worst-case scenarios. If your pivot takes longer than expected, how long can you stay afloat? What's your financial safety net?
If your current lifestyle is fully dependent on your salary, you'll need a transition plan that minimizes financial disruption. No winging it.
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3. Make your move without quitting cold turkey
You'd be surprised to find out that thinking a career switch has to happen overnight is a common mistake. A gradual transition can reduce risk while keeping your finances intact.
Steps to take:
- Explore internal transfers. Can you move into a different department within your current company that aligns with your career goals?
- Start a side hustle. Freelance, consult or do project-based work in your desired field to gain experience while keeping your main income stream.
- Upskill on the job. Take on projects that align with your target role, so you build relevant skills before making a move.
- Leverage remote and part-time work. If your goal is to work in a different industry, see if you can take on remote, part-time, or contract gigs before fully transitioning.
You don't need to quit your job today. There are ways to transition while keeping a paycheck.
4. Get paid to learn instead of paying for another degree
Another myth about career change? That you need to go back to school and spend thousands on a degree. While education is valuable, there are cheaper, faster ways to gain credibility in a new field.
Steps to take:
- Take online courses. Platforms like Coursera, Udemy, and LinkedIn Learning offer affordable, flexible courses.
- Find apprenticeships or fellowships. Some industries offer paid programs to help career changers break in.
- Leverage employer-paid training. If your company offers education stipends, use them.
- Build a portfolio. Instead of relying on credentials, showcase real work—case studies, side projects, or freelance gigs can prove your abilities.
Most employers care more about what you can do than what degree you have. Focus on building skills and proof of work.
5. Use your existing skills as leverage
Many people assume switching careers means starting from scratch. But your existing experience is an asset.
Steps to take:
- Identify transferable skills. Leadership, project management, sales, and data analysis—these apply across industries.
- Position your background strategically. Frame your experience as an advantage in your target field.
- Tell a compelling story. Why are you making the switch? How does your experience make you uniquely valuable?
You're not a total beginner; you have skills that can set you apart in your new industry.
6. Network with people who've done it
Who better to learn from than people who've already walked the path?
Steps to take:
- Find career changers. Use LinkedIn to search for people who've made the same switch.
- Reach out strategically. Instead of asking for a job, ask about their transition process, lessons learned, and what they wish they'd done differently.
- Follow industry leaders. Engage in online communities, attend events, and connect with professionals in your target field.
Most people love sharing their experiences. Reach out, learn, and avoid making the same mistakes they did.
How to networking for UX designers:
7. Play the long game
A career pivot isn't a quick fix; it's a long-term investment in your future.
Steps to take:
- Stretch your timeline. A gradual transition allows you to build experience, credibility, and financial security.
- Track your progress. Set monthly goals for skills development, networking, and job applications.
- Be patient. It might take longer than expected but slow progress is still progress.
If you approach your career pivot strategically, you can minimize financial risks and set yourself up for long-term success.
One step at a time
Yes, financial risks are real.
Yes, career pivots can be terrifying.
But with the right strategy, you can make the switch without sacrificing your financial security.
The key? Planning, patience, and leveraging every resource available to you.
If you're feeling stuck, just start with one step. The path to a new career doesn't have to be a leap, it can be a series of smart, intentional moves that get you exactly where you want to be.
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