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Posted on March 12, 2021 under Career & Work
When considering a career change you need to calculate how the new position could change your standard of living.
Most professionals don't know how much their present lifestyle costs them every single month – they roughly know if they have enough, not enough, or more than enough.
As result, when thinking about leaving one role/industry for another they're not clear about what's possible and how much of an offer they can afford to accept.
The solution is to have a financial snapshot of your current lifestyle – include *everything.* So you literally don't shortchange your way into a new job.
I get asked all the time “Kelley – should I take my new Dream Job?” and my response is…what does your spreadsheet say?
If you're getting a raise AND your lifestyle remains the same then congratulations!
If you're taking a pay cut to launch a new career path or your dream job (not always the case btw) you need to know the loss. AND have a plan on how to make up for it. Likely reducing expenses or a side hustle.
Do you know how much salary you need to make to maintain or increase your current standard of living?
Give me a HELL YEAH or a HELL NO!
-Kelley A. Joyce, MBA, CPC
Kelley is a career development coach who is dedicated to helping people discover their career path and land their dream jobs. Kelley and her partner Josh live in New York City from which she has served hundreds of professionals across the U.S., U.K., and Australia since 2012 to radically change their relationship with work.
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