Join Valerie Sutton for an in-depth discussion in this video Considering lifestyle choices, part of Managing Your Career.
While accessing your skills, knowledge, and qualifications is important in making your career decision lifestyle choices may be even more important to you. Lifestyle choices are decisions, such as the amount of money you want to make or the geographic region in which you wish to live. So let's discuss some of the lifestyle choices you may be considering. First, financial goals are important and will be different for everyone. Financial goals include objectives like salary, savings, retirement, and other plans.
Take a moment to answer the following questions. What is the minimum salary you need to make today? Look at your basic budget needs like rent, food, utilities, and entertainment. What is your ideal salary? This is the amount that is above your basic needs and allows you to lead the lifestyle you really want. What are your long-term financial goals? These may include buying a house, developing a retirement fund, or traveling the world. It just depends on your wish list for the future. Second.
Geography often plays an important role in the selection of your career. For example, if you wanted to work in the film and television industry in the U.S., L.A. and New York are the most likely places you would go because they have a high concentration of companies. You will be able to transfer from company to company without leaving the region or your industry. Some things you will want to think about are your willingness to move, where you want to live, the industries in those regions, and how transferable your skills are.
Take a moment to answer the questions on your career guide. Your third lifestyle consideration is career progression. This means how people advance in their careers, and it's important as it will affect your future career mobility. For example, a person may be a professor for 10 to 15 years before they take a new position as a Department Chair. Whereas in the financial industry, a Junior Analyst may only work in the position for 2 years before she goes back to school for an MBA in order to advance her career.
You will want to think about if you need stability or prefer frequent changes, your dedication to one industry or interest in multiple industries, and whether you're willing to further your education if necessary to progress in the field. The fourth consideration is Work-Life Balance. A conversation with a partner or family member is often an important part of this decision. For example, if you are raising a family, travel may not be appealing to you or you may desire flexible work hours that allow you more freedom.
Consider the following questions. What are your ideal working hours? Is travel an optional for you? Do you need to take a partner or family into consideration? If so, what are your priorities? Finally, consider how important economic security is. Economic security means having a stable source of income that will allow you to maintain your desired standard of living. If security is one of your top priorities, you want to determine which industries have some immunity to economic changes.
Remember, by considering the following lifestyle choices, financial goals, geography, career progression, work- life balance, and economic security, you'll be able to make the best choice for your personal needs.
Discover how to assess your experience, work-reward values, and qualifications, all with the goal of creating a robust career profile that charts your future growth. The course also shows how to fully investigate career options and perform a gap analysis in order to find key opportunities.
- Identifying your skills, knowledge, and qualifications
- Considering lifestyle choices
- Completing a career profile
- Researching possible roles
- Exploring different industries
- Researching salary ranges
- Performing a gap analysis