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For many of the workers who have been laid off over the past couple years, changing careers probably sounds like a good idea, especially right after they were discharged.

If the individual is having a difficult time securing new employment in the same field as the previous job, making a fresh start in a new – maybe even more fulfilling career – could seem inviting and even exciting.

However, and unfortunately, If you are somewhat experienced, used to living a certain lifestyle that your former income provided, or perhaps even supporting a family, changing careers comes with an immediate and severe economic impact. On average, individuals who change careers can lose 20 to 50 percent of their former income on the new job. It can take an average of five to 10 years to get back to the former salary level after changing careers.

The more years the individual has invested in a career, the longer it takes to equal the former salary in the new career. Career changers may face significant lifestyle changes in accepting a salary reduction. After close examination, most people are reluctant to see their standard of living drop appreciably.

Rather than identifying the particular circumstances that caused their layoff, the individual may tend to condemn the entire industry, or worse, one’s field of expertise, leaving the individual with an either/or position. There seems to be no alternative to rejecting the former job function other than trying something new and completely different.

What is required is a careful examination of all options. The matter of career investment must be considered. Is it worthwhile to nullify the considerable time and expense it took for education, training and on-the-job experience that qualified the person for the field in the first place?
People are far better off capitalizing on their experience by staying within their primary field of expertise. Finding a job within the same industry gives the job seeker a double fit function and industry; switching industries gives the job seeker much greater long term job security.

In most areas it is feasible for people to transfer their functional skills to another industry and be welcomed by that industry at competitive salary rates. From the employer’s standpoint, industry changers frequently bring the advantage of a fresh perspective. They may see situations differently and be able to use their functional abilities in suggesting new solutions.

The discharged individual has often invested many years in his or her particular function, clearly making that the option of choice rather than starting over in another career.

For example, the individual who has expertise in data processing and information services can work in any type of business or industry today because businesses are dependent on technology in their daily decision-making and operations.

Another example is sales. No business can succeed without business development, making it a function in universal demand. A stock broker may define himself or herself by the industry. In a job search, however, it is the ability to find and keep customers that may be his or her most valuable asset. Sales forces throughout the country are on the lookout for that ability.

Other examples of functions or fields include marketing, accounting or finance, engineering purchasing, distribution – in fact almost any expertise.
Realizing your options opens up a whole new world of job opportunities. If your functional area of expertise is accounting and you have worked all your life for a telecommunications company, and you focus your job search on the Baby Bells and long distance companies, you will severely limit your opportunities and prolong your search.

Almost every industry requires the services of an accountant. When you develop your list of people to contact for job leads, do not only call people whom you know in your industry. Call and meet in person with everyone you know who may be able to provide a job lead or set up an interview for you because you never know where the next job lead or offer will come from.