Are you singing “I can’t get no satisfaction” when it comes to your job? Do you find yourself daydreaming about a career change? Do you feel bored, dissatisfied, or exhausted? Do you have the career burnout blues? Or have you recently lost your job or retired and want to keep working but yearn to change directions?
You’re not alone. Many baby boomers feel the same way. Nonetheless, a career change can be scary. Fear of failure, financial concerns, and perhaps a less than supportive spouse prevents many from leaving their comfort zones.
On the other hand, the biggest rewards come from taking the biggest risks, says life coach Caroline Adams Miller, author of Creating Your Best Life. “Otherwise, you may be filled with regret at the end of your life—and that prospect helps put steel in your spine,” she says.
Studies show that up to 80 percent of baby boomers plan to do some sort of paid work until age 70 to stay mentally sharp, keep engaged socially, and achieve financial security in retirement. That leaves a couple of decades after 50 to work. Perhaps that’s why more and more boomers are contemplating an “encore career” to pursue their passions and create a fulfilling life they can enjoy.
But is it really possible? Certainly!
The American Institute for Economic Research looked at people who changed or tried to change jobs after age 45 and found that 82% of people aged 47 and older who took up new careers in the last two years were successful, and 50% saw a salary increase.
“Don’t view your age or your experience as a liability. It’s a benefit to companies to have a multi-generational workforce,” says Oriana Vogel, vice president of global talent acquisition at American Express. “One of our goals… is to hire employees that can provide a variety of different perspectives and experiences.” Age doesn’t come into consideration when it comes down to hiring the best people, she says.
A report from the Bankers Life Center for a Secure Retirement found that “boomers are just as likely or more likely to be engaged in their work than are the younger Generation X or Millennial generations.”
So, yes, it’s possible to find a different career you love after the age of 50. But which job will make you the happiest? To help you decide and perhaps narrow your choices, I did a bit of research on America’s happiest and unhappiest jobs:
THE HAPPIEST JOBS
Kununu created a “Career Happiness Index,” looking at nearly 200,000 employee reviews from 2016 to name three of the nation’s happiest industries of 2016.
Public administration topped the list, perhaps because government employees enjoy great benefits, hours, vacation policies, job stability, and support from management. In addition, employees felt that they were working for the common good, serving the public.
Consulting is a booming industry with a projected growth rate of 18%. Workers found their work challenging and enjoyed collaborating with others.
CareerBliss created a ranking of the Happiest and Unhappiest Jobs in 2016. At the top of their list were recruiters.
“Finding great jobs for other people creates a happy work environment for recruiters…many recruiters find joy in helping others find jobs and earning bonuses for doing so,” said CareerBliss CEO Heidi Golledge.
A USA Today article summarized job satisfaction as jobs involving caring for, teaching, and protecting others as well as creative pursuits. Research published by NORC at the University of Chicago listed the top five positions for job satisfaction, in ascending order, clergy, physical therapists, firefighters, educational administrators, and artists.
THE UNHAPPIEST JOBS
According to kununu’s data, professionals in healthcare/pharmaceutical, legal advice and real estate/facility management score the lowest. CareerBliss listed sales account manager as Unhappiest Job. Rounding out the bottom five are security officer, merchandiser, cashier, and driver.
TIPS FOR CHOOSING A NEW CAREER
A word of caution. Remember, an encore career that brings you happiness isn’t all about pursuing your passions. As the research above proves, when considering your choices, don’t forget to consider practical work issues such as job security, pay, benefits, work-life balance, and office environment. For example, just because you love a hobby doesn’t mean you’ll enjoy it once you add the stress of making a living. Take it from me, I chose to write professionally – and no regrets – but it wasn’t near as fun and carefree as when writing was something I did for my own pleasure.
Another option to think about? As I wrote in a previous blog, many boomers approaching retirement are choosing to become entrepreneurs and starting their own businesses. They want to continue working – but on their own terms.
In fact, a new Gallop study showed adults over the age of 50 are one of the fastest-growing groups of entrepreneurs in the U.S. An overwhelming majority — 83% — say their main reason for launching a venture was a lifestyle choice or to increase their income. This poll suggests that boomers are searching for independence, a flexible schedule that leaves room for volunteering and traveling. And they want to pursue their interests and passions before it’s too late.
Keep your mind open and be creative. Consider wearing more than one hat and find a customized solution that puts you in control of your life. For example, you could combine writing, public speaking, teaching, and consulting. The Internet has opened up new freelancing opportunities.
The good news? Despite the hard work and dedication required to start and run a small business, 94 percent of U.S. entrepreneurs are happy being small business owners, according to a new survey by the online small business community, Manta.
Don’t rush into any decisions or immediately quit your job. Prepare and take it one step at a time.
Depending on your financial situation, “you might have to do it [a career change] incrementally,” says Kerry Hannon, author of Great Jobs for Everyone 50-Plus. “You need a job that pays the bills now. Then, on the side, take the classes you need, build those skills you need,” she suggests.
Do the necessary research. Learn about the new career you’re interested in, including pay, job satisfaction, and trends in the industry as well as the skills, qualifications, certifications, and credentials you’ll need. Strategically network with people in the field. Keep your skills up-to-date and utilize LinkedIn and other social media sites.
Internships and volunteer work can help you gain hands-on experience and test-drive a new career path before quitting a job.
Keep these tips in mind and you can move forward with confidence to reinvent your life and start that new career!
Images courtesy of Stuart Miles and David Castillo Dominici at FreeDigitalPhotos.net.