What do you do if you're a retired banker looking for a second career?

1 Assess Skills

Before jumping into a new career path, take stock of the skills that made you successful in banking. Your financial acumen, analytical thinking, and understanding of economic trends are valuable assets. You may also have developed strong leadership and communication skills. Consider how these can be applied in different contexts, perhaps in consulting, education, or non-profit work. Reflect on your career highlights and think about how those experiences could benefit others.

2 Explore Options

Now that you've identified your strengths, explore the myriad of options available. You might consider roles in financial consulting, where you can advise businesses on their financial strategies. Alternatively, teaching finance or economics at a college level could be rewarding, sharing your knowledge with the next generation of professionals. Non-profit organizations also value the fundraising and financial planning skills that bankers possess. The key is to match your skills and interests with the right opportunity.

3 Network Actively

Networking is crucial when transitioning to a new career. Reach out to former colleagues, attend industry events, and join professional groups related to your target field. These connections can provide insights into new industries and might lead to job opportunities. Remember, your reputation as a banker can open doors, so maintain those relationships and let your network know about your career shift intentions.

4 Update Resume

Your resume should reflect the skills and experiences most relevant to your new career path. Highlight your achievements in banking that are transferable, like managing teams, developing strategies, or improving processes. Tailor your resume for each application to showcase how your banking background can be an asset in another field. Use language that resonates with the industry you're targeting, and consider professional help if you're unsure how to reposition your experience.

5 Learn Continuously

Even with years of experience, there's always something new to learn. Consider taking courses related to your new career field, whether it's a certification in financial planning or classes in non-profit management. This not only broadens your knowledge but also demonstrates your commitment to adapting and growing in a new role. Lifelong learning will keep you competitive and can be incredibly fulfilling personally and professionally.

6 Volunteer First

If you're unsure about committing to a full-time role or want to gain experience in a new sector, volunteering is an excellent option. It allows you to apply your banking skills in a different context and can be a stepping stone to paid positions. Volunteering can also expand your network and give you a clearer idea of what you're looking for in your second career. It's a low-risk way to try something new and make a meaningful contribution.