CareerBalance Blog

Increasing numbers of our clients in their 40s and 50s are looking to change career direction – sometimes quite dramatically. Most of us will be working until well into our 70s so a mid-life career change could set you on a new path for the next 20 to 30 years.

Accelerating economic, organisational, social and technological changes mean that many jobs and careers are disappearing whilst new ones are being created. Those who can adapt to these changes, gather additional skills and knowledge, and seek out new opportunities in different sectors will be able to find rewarding and fulfilling new careers.

At CareerBalance we help our clients to take a long-term view of their careers, so they know what they must do now to move in this direction. It takes courage to change direction, but with greater self-awareness, a good understanding of modern careers, and a focused approach to your job search you can have a career which up until now you have only been able to dream about. And without taking a cut in pay. Our guidance and support also covers setting up your own business or consultancy.

Reading the national press, you might conclude that this is the worst possible time to be looking for a job in banking or finance.  The collapse of Lehman Brothers, two years of credit crunch, and a stream of pictures showing newly laid-off bankers leaving their office for the last time, cardboard box in hand, have all contributed to the impression that these are sectors in decline, with plenty of well-qualified people competing for a handful of jobs.

Well, think again. London is still the world’s top-ranked financial city (together with New York) and there is an enormous amount of economic activity going on.

There are thousands of banking and finance jobs out there, and even more non-financial positions available in financial institutions. Many of our clients have made the move into these areas successfully, even over the past year. However, you need to know where to look and what to look for.

The place to start on your career search is the banks’ own websites. Thanks to the internet revolution, banks rely less than they used to on recruitment agencies to attract personnel and are also reluctant to advertise on job websites because they do not want to be inundated with applicants; adverts on major job web sites or national newspapers are often a last resort.

That said, one need only glance at the major industry recruitment websites – such as  http://bankingjobsuk.co.uk to see just how many serious adverts they still carry and how vibrant the sector clearly still is. Look closely, and you will see a particular abundance of jobs available in retail banking, marketing, financial planning, project management and other such areas.

This is partly related to the economic upswing and greater sense of confidence recently felt in the City; the £11.5billion takeover of Cadbury’s by US food company Kraft, for example, generated hundreds of thousands of hours of work and other, albeit smaller, such deals take place all the time.

Another factor is the government’s hard push for greater regulation of the banking, investment and financial services industries and more anti-fraud controls. More staff are needed to monitor compliance.

So there are plenty of new career opportunities. And here at Career Balance, we have helped many clients worried about moving into the financial sector to find rewarding (in both senses) new jobs.

Our role is to help our clients realise their own potential by identifying their transferable strengths and figuring out how to apply them to a new role in a different sector. Very often, clients do not realise just how broad a range of skills and knowledge they have picked up in previous workplaces, and how widely these can be applied. Our work with our clients can open up a world of new opportunities.

We also encourage clients to open their minds to jobs they may never have previously considered, but could turn out to be highly suitable. For example, increasing numbers of jobs in banking and finance are fixed-term contracts. Many people are reluctant to even consider them, but they can be excellent for building experience and contacts, and often turn into permanent roles.

So if you’re unsure about a career in banking, now is a good time to reconsider.

Having a presentable CV and preparing properly for an interview are a given. Often I see inadequate CV’s riddled with spelling errors and with the ‘tracked changes’ highlighted in red. Once you have carefully checked your CV, converting it to a PDF format which will avoid later errors slipping in, and will prevent someone seeing the track change comments.

.

Personal statements at the start of the CV can be really effective if they are well written. Too often people use generic, clichéd adjectives such as “enthusiastic self starter”, “highly motivated”, and “excellent team player.” A good personal statement should be no longer than about two sentences and demonstrate your key strengths and sector experience. Think about what you would say about what you can do to someone you really wanted to work for and use that.

.

You need to check your CV every time you send it out and make sure it’s relevant for the specific role you’re applying for. Getting someone else to review it is also a good idea. Send a hard copy and covering letter in the post, especially if you’re approaching a company speculatively. This can give it more prominence than an email.

.

There is no excuse not to do your research if you’ve got an interview. See what other people have to say about the company: look at company reports, articles in the trade press, Google the interviewee and make sure you have as much information as possible.

.

Always ask for a job description and person specification. Write down the questions you want to ask beforehand. Include some which show you have researched and understood their business. What sorts of development opportunities are there? What’s going on in the organisation? Show initiative. Have clear examples ready which show you’ve got what it takes to do the job. If you’ve never managed a large team at work but are football captain of your local team, then you can demonstrate your leadership skills that way. Make sure you know your key selling points and show enthusiasm.

.

Finally, remember that an interview starts the moment you walk through the door. Good interpersonal skills, a strong handshake and good eye contact are just as important as what you say in the interview.

.

Need help with your CV/ Cover letter? Uploaded your CV now in our Homepage (www.careerbalance.co.uk) for a FREE review by one of CareerBalance’s Senior Specialists.

Choosing an outplacement provider can seem like a daunting prospect – and often needs to be done in a hurry. You’ve got to find someone who can deal with all levels of people from junior executives to senior managers and someone with some knowledge of your business and sector. If you engage a provider right at the start of the consultation process you’re less likely to experience problems later on, and can get their guidance in handling sensitive issues and staff who react badly.

Unfortunately lots of companies don’t handle redundancies and downsizing very well and are poor in communicating with the people involved. Making someone redundant is not something that anyone enjoys doing. In these circumstances, having a neutral and experienced provider to offer a bit of guidance and support can be a big help. Lots of HR people are quite rightly terrified of being taken to an employment tribunal, and we understand that job cuts need to be carefully thought through.

Redundancies can affect existing staff just as much as those who are leaving. You’ve got to leave a good impression. Some people have worked for the business for many years and have been loyal and committed employees. Others may have been enticed away from other jobs and are now in a role that is now being made redundant. In these sorts of cases, it’s really important to handle employees with sensitivity and give them the right career guidance and job-hunting help to find another suitable role.

We have six main consultants with experience in a number of different industries, such as law, banking and publishing and we offer expertise in lots of different areas in the form of one to one counselling & coaching sessions or small group workshops.