Career Changes

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Switching Jobs

Picking the best offer – Tips you can use

Switching jobs is an important decision. Be sure to make it for the right reasons. According to a 2006 survey, the average person born in the later years of the baby boom held 10.5 jobs before the age of 40. This is drastically different from 50 years ago when a person typically stayed with the same company throughout an entire lifetime.

Today, many people change jobs simply because there are more jobs available. Another cause might be the increase in job dissatisfaction that exists among younger workers and baby boomers. According to the Conference Board, less than half of all Americans say they are satisfied with their jobs, which is down from 61 percent 20 years ago.

Some tips to keep in mind before you consider your next job switch:

  • Think about why you want to switch. There are plenty of valid reasons to switch positions, such as seeking a promotion, not foreseeing a future in the current position, becoming bored in the career path you've chosen or looking for an increase in compensation.
  • Consider temporary health insurance options. Remember that any time in between positions can be a period without health insurance. Options to research include COBRA and temporary health insurance offered by select health planhealth plan
    A health plan that you buy or that is provided by your employer. It pays for health care services. I... more
    providers to cover you and your family during the transition.
  • Consider your finances. If you are about to make a job change, make sure you aren't loading yourself up with debt. Too much debt can cause you to be more vulnerable during a job transition. Preparing a written budget can help you clarify your cash-flow situation and determine how to eliminate debt, build up cash reserves and cut expenses.
  • Get connected. Go to networking meetings for your industry and make sure you know what is going on in your field. You may want to even consider contacting a headhunter, whose job is to introduce candidates to companies that are hiring.
  • Transfer your 401(k)401(k)
    A 401(k) is a type of personal pension plan offered by an employer. It provides tax advantages on mo... more
    to an IRA or to your new employer's plan.
    A retirement plan is a long-term savings strategy and ideally shouldn't be used to pay for current expenses or to pay down debt.

While your current job may not be right for you in the long term, it is in your best interest to develop your role and responsibilities as much as you can before you move on. Most important of all, use your current job experience to ensure that your next position is an even better fit.

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