By Dr. Bill Dyment, Co-author of Fire Your Excuses
Each year, I meet scores of career professionals and students whose stories closely parallel the ones below. Is one of these stories your own?
· Robert lost his current position due to restructuring. He knows that his field has changed and it is unlikely he will be hired at the same salary as before. He has been out of work for more than a year. Every month he is not working, he is losing thousands of dollars.
· Melissa’s job is not what it used to be. There is a salary freeze and she constantly hears, “You should be happy just to have a job.” Yet, her family’s bills keep rising and, then there is college and retirement. She doesn’t want to become a full-time entrepreneur, but an extra few hundred a month sure would help.
· Ryan will be entering college soon. He is smart but unfocused. Given the cost of college these days, a clearer understanding of his strengths, weaknesses and interests might save a lot in unnecessary classes, even an unnecessary extra year in school.
· Kim is an artist at heart. She is talented and helped a number of friends with parties, flowers, and crafts. Everyone says she should go into her own business but she doesn’t know where to begin.
· Daniel lost nearly all of his investments when the real estate market crashed. He knows at his current salary, he will never be able to make up that loss before retirement. He wonders what else he could do to earn more in the time he has to work.
Getting Real with Your Career:
10 Questions to Ask Yourself
1. Will my current position likely be in more or less demand in the next three years? If the answer is “less,” are you O.K. remaining in a fading position or field? (If you are close to retirement or have more than enough, this may not be a concern.)
2. If my position is not likely to grow, am I O.K. with capping my salary indefinitely at this point in my career? If you enjoy a rich, full life outside of work and you are fine with the income and the responsibilities you have now, this may be O.K. too. Just keep in mind, your expenses, i.e., fuel, health care, etc., will continue to rise each year.