Who wouldn’t want a meaningful career and better balance between work and home? For many of us, it’s finances that keep us from making a career change. Sure, our current job has lost its spark, but it’s stable. Dependable. Reliable. Steady. We worry and wonder: What would a career change do to our bank accounts? To our way of life? To our family? We assume that a major reinvention would involve a gap between paychecks when we’d leave our job and break into a new field. Sometimes we think (or we know) that the career we’d love would fill our days with more meaning but pay us less (significantly less, even).
Can You Afford to Change Your Career?
Before you make a bold move, get your finances in order.
August 29, 2018
Summary.
When it comes to considering a major career change, what prevents us from taking the leap is often whether we can afford to make such a change. How can you get a realistic picture of what your life would look like, from an income perspective, in a new career? From testing out your estimated salary to assessing the risk tolerance of your household, there are steps you can take that will reduce your financial concerns and make a radical move feel more achievable. It will take some planning and some sacrifice, but it can be done.
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What's your next career move? Learn how to set yourself up for success.
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New!
HBR Learning
Career Management Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Career Management. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
What's your next career move? Learn how to set yourself up for success.