Are you considering rejoining the workplace or changing your career to another focus? Statistics show you should be prepared for a pay-cut. Though many of your skills are likely transferable to another industry, you will probably have to start a few levels below where you are now or where you were when you left the workforce. (Business.com) If you are rejoining the workplace after a period of time, employers may start you lower but some suggest the lower salaries are in part a choice of the individual. Perhaps with your break from the workforce you are looking for reduced stress and a more flexible schedule.(Harvard Business Review)
Things to consider:
Regardless of the reason, you should evaluate the reasons you want to change careers or rejoin the workforce.
Research average salaries for the ideal job and decide what salary cut is worth what you will gain with the change. Try sites like Glassdoor.com to at least get a range for the new job.
Start saving beforehand so that you have a buffer in case you need to take a large pay-cut. Once you find the new salary range, you could even try living off that salary and saving the remainder.
What flexibility are you looking for? Confirm the industry you want to move to is in line with your expectations.
How will you sell yourself in your resume to get recruiters and hiring managers to give you a chance?
Do you have any contacts in the industry you are trying to get into? Connect with them to get a real insight to the other role. This will help you determine if this is the right move for you.
If you are thinking of a career change I wish you good luck!
Other great articles on career change: