Changing jobs often means a steep learning curve. But changing sectors can be a far steeper curve. Not only will you have to learn about a new role and a new company, but you’ll also have to learn about a whole field. So why do it? What do you need to consider, and how difficult is it to make this leap?
Establish your motivation for moving
First, ask yourself several questions. Why do you want to leave? Do you simply dislike your job? Or your boss? Or your company? It’s quite easy to conflate disliking your role, manager, or organisation with disliking the entire industry. If this is the case, then a far lesser move may be enough to satisfy you. Or are your motivations deeper?
There are plenty of good reasons to switch sectors. One reason is that different industries may offer new opportunities and challenges. Another reason is to broaden your range of experience, which can make you more attractive to employers who will view you as flexible and capable of dealing with a variety of situations and challenges. Equally, you may have a strong desire to work in a certain field, or your own sector may be in decline. The last of these is a particularly compelling reason to go elsewhere. Working in a sector that’s in long-term decline can feel like swimming against the current.
Do your homework
Look at the sector you want to move to. This should involve not only desk research but also talking to anyone you know in that industry. Ask a broad range of questions: What is the pay like, and what are the hours like? Which are the big companies? It’s also worth comparing your target sector to other sectors. High-profile, desirable sectors can look more attractive than they actually are and may be difficult to get into. Conversely, an overlooked sector may be more likely to accept an outsider.
Also, be open-minded. The first industry you look at may not be right for you. But it could signpost you in the right direction. You might, for instance, realise your skillset is not a good fit for this sector but would be very good for another. Or you could discover that the expected hours will not fit in with your family commitments but that a related sector offers better work/life balance.
Consider skills transferability
Changing sectors can often be fairly straightforward. If, for example, you work in a finance function, this is likely to be similar across a broad range of fields. And the skills that make you adept at marketing a budget airline would probably transfer well to a restaurant chain, as they’re both consumer leisure propositions. If the sectors are adjacent (for example, accounting and consultancy), the move may be even easier. Here it’s usually worth speaking to recruitment consultants. They often look beyond their hiring sector to find the right candidates.
Audit your skills
Change won’t always be straightforward — and, if it isn’t, you need to think strategically about your skills and experience and how they’ll map onto a new role in a different field. Think about the skills that are rare in the field you’re going into but that you have. Make a list of problems that you’ve solved, and consider how these experiences might apply in your new sector. Think, too, about how you have worked with people outside your sector.
A useful task here is to rewrite your CV with your target sector in mind. When applying for jobs, you want to build a case for yourself. Use rewriting your CV as practice for making your case. Approaching friendly recruiters may also help by pointing you in the right direction. They can review how well you’ve made your case, even if they are unable to find you jobs.
Make yourself memorable
When applying for jobs, you may not be the most obvious candidate. But you will probably stand out because you have a comparatively unusual CV and background. So you want to play this up. You’re different and distinctive. Think how you can supply new perspectives and new ways of doing things. You should also emphasise how much you want to work in the new sector and that you are keen to learn. Finally, if you have moved sectors before, use this as evidence of your flexibility.
Leverage your network
Making a big change is a real challenge and requires an appetite for risk. Here, networking is key. If you are a far-from-obvious candidate, you will probably have to get your job through people you know. So look to your network. Do you know anyone who can supply an introduction? Even a tenuous introduction is valuable and acts as a commendation. If you know nobody at all, make your own introductions. Target a number of people in the industry, and ask if you can meet up for a coffee or lunch to learn more about their sector. You may be surprised at how willing people are to help you and share their knowledge — most people like talking about their jobs.
Finally, if the gap between your desired sector and your current sector is too large to cross in a single step, consider taking two steps. Is there an intermediate role — or some sort of side hustle — that you can do for a couple of years, which will act as a stepping stone?
What else do I need to consider?
Particularly with a significant change, you might also need to consider retraining or taking time out to gain additional qualifications. This could involve significant time and expense on your part. It may also require lifestyle changes and the support of others in your life, particularly if you have a family and are the primary earner.
Visit the Global Career Hub from AICPA & CIMA for help with finding a job or recruiting.
Rhymer Rigby is an FM magazine contributor and author of The Careerist: Over 100 Ways to Get Ahead at Work. To comment on this article or to suggest an idea for another article, contact Oliver Rowe at Oliver.Rowe@aicpa-cima.com.