Career Changes & Pay Cuts: Why They’re Not The End Of Your World!

It’s easy to think that the path of career progression may look something like this:

1. Get a Bachelor’s degree in a subject you’re interested in.
2. Get hired by a company as an intern.
3. Progress by producing quality work and getting promoted.
4. Reach the top of the corporate ladder.
5. Keep that same job and salary until retirement.

While it’d be nice if it was just as simple as that, maintaining a job and a salary is much more complex, requiring constant effort and dedication to self-improvement.

That’s also why for many, especially new workers, a changing careers and/or getting their pay cut is often taboo. According to a post on LinkedIn by Irene Chan, feeling or being undervalued from having to start your career again from scratch (sometimes even in a completely different industry) as well as having your wages - your means of living and surviving - reduced could be an overwhelming fear.

…Or does it? Does it really have to be that way for those who undergo these drastic circumstances?

With that said, we’re going to find out how to pick yourself up from a drastic career change or pay cut and why they can actually make you than break you!

Should You (Actually) Do It?

Making the decision to change careers is often a daunting decision, especially knowing that in whatever new position you take on as, you’ll be (re)starting at a lower pay with potentially less experience than what you had in your previous role.

However, while this stage will be risky and unstable, sometimes career changes are necessary in order for us to keep growing - both personally and professionally. For some people, they need to upskill their current expertise through other means their current job can’t provide. Or perhaps they desire to find work that can fulfill their aspirations more satisfactorily.

But whatever the case, before you embark on a career change, it’s crucial you think your decision through before making it. Asking yourself if a career change is what you really need will allow you to have a clearer direction or plan for your future moving forward.

We’ve compiled some tips you can use to help with this; take a look:

1. Assess Your Current Situation

• Identify personal reasons or a good reason for job change.
• Determine if dissatisfaction stems from temporary issues or deeper misalignment with your role or employer.
• Reflect on your goals, values, and what matters most to you.

2. Reflect on Past Experiences

• Identify what engaged and fulfilled you in previous roles.
• Use these insights to inform your next career move.

3. Clarify Your Goals

• Define what you want in a job, such as growth opportunities, better work life balance, or alignment with personal interests.
• Consider long-term career plans and the type of work that fulfills you.

4. Balance Job with Lifestyle

• Assess compatibility with your life stage and personal priorities (e.g., flexibility, commute, pay).
• Weigh practical factors like job security and work life balance.

5. Recognize Warning Signs at Work

• Rising stress, lack of enthusiasm, or disrupted sleep.
• Feeling undervalued, uninspired, or misaligned with company values.

6. Research and Evaluate Opportunities

• Explore market trends, job openings, and potential employers’ culture and values.
• Weigh pros and cons of opportunities compared to your current role.

7. Focus on Professional Growth

• Seek roles offering training, leadership, mentorship, innovation, or stretch opportunities.
• Ensure career development aligns with your strengths and future goals.

8. Think About Your Impact

• Choose roles where you can contribute meaningfully, whether through innovation, mentorship, or meaningful activities.

How To Make The Most Of It

It’s possible a career change or a pay cut will leave you down in the dumps for a while, making it difficult to get back on your feet. You may find yourself wondering if you’ve made the right decision or whether you should return to the career path you originally walked on.

But as Irene Chan says from her story: ‘Each pay cut should be a deliberate investment in knowledge and growth. Once you bounce back, you will go even further and "richer".’

As long as you’re able to withstand obstacles, obtain any available support you need, wisely follow through with your new plan, and give time for yourself to adjust, you should be able to thrive in your new role too.

With that, we’ve compiled more tips to help you on your journey; take a look:

1. Avoid "The Great Regret"

• Research potential employers thoroughly, using reviews and networking.
• Address issues and/or pinpoint a positive reason at your current job or with your employer before deciding to leave.
• Avoid excessive nostalgia for your previous job after transitioning.

2. Get Organised

• Obtain references, payslips, and employment documents before leaving your current role.

3. Refocus Your Mindset

• Redundancy is a business decision; don't take it personally.
• Stay calm and proactive to move forward with long term career goals logically.
• Break resistance to change by trying new and difficult things.

4. Target Realistic Career Aspirations

• Create a career plan with achievable goals.
• Avoid frustration by setting clear, actionable steps.

5. Embrace Challenges For Career Growth

• Use struggles as opportunities for learning and success.
• Question the purpose behind your goals to stay focused and intentional.
• Seek help whenever you need it.

6. Stay Connected

• Maintain industry networks through social media, personal contacts, and professional platforms.

7. Update Your CV and Profiles

• Highlight relevant skills and be transparent about redundancy during job applications.

8. Work with a Recruiter

• Leverage recruiters for career advice, unadvertised job opportunity, and market insights.

9. Be Open-Minded and Positive

• Flexibly assess roles and focus on what you bring to a new job during interviews.

At Hyred, we understand the value that human talent can provide. We’re always seeking a diverse range of talented, passionate people who are eager to make a difference through career opportunities. If you’re interested in onboarding with us, visit our Homepage now to set up a free 30-minute consultation for more information! Or visit our Career page for our full list of open job positions in the SEA region!

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