Unsure of the next step

17 Comments

1. AnonymousJanuary 30,2023 at 6:09PM UTC

   During the pandemic, I worked in a bank marketing. Although I had previous experience in other industries, it's difficult to shake that association. If you liked aspects of the financial industry, outline what you feel would be an asset in different sectors.

   Restructure your experience so it's applicable for other industries. Case in point, increased revenue, managed multi-million dollar deals, worked cross-functionally, leadership, relationship management and depending on your former position, B2B and B2C relations. Brainstorm a list of what you achieved and tailor your resume accordingly. Good luck!

2. Lesa Edwards, Career Coach & Master Resume WriterJanuary 30,2023 at 6:45PM UTC

   It's all in the packaging - both written (your resume and LI profile) and how you show up when you network/interview. It sounds like it's time to bring in a professional to help you identify what's holding you back - and to map out a plan to get what you want. There are several career coaches in this group (including me) who can give you more in-depth assistance once we fully understand what you've done so far and the exact results you've gotten.

3. AnonymousJanuary 30,2023 at 6:47PM UTC

   Your resume needs to be simplified into a skills resume.
   Stop thinking your age is getting in the way, a non-profit will be happy to get you as an experienced worker. Sometimes you can volunteer at NP's and they will hire you after that. Benefits are costly but if you need to check into the cost of cobra which may make it easier to take that pay cut and still be covered.

4. AnonymousJanuary 30,2023 at 6:48PM UTC

   There other government jobs available. I was told that the Defense Contract Audit Agency (DCAA) was hiring. The link for more information according to the PPT slide I was sent is:

   https://WWW.DCAA.MIL/CAREERS

5. Julie EJanuary 30,2023 at 7:27PM UTC

   They don’t know your age unless you tell them or you’ve been in the same job your entire career. Only list roles from the last 10 or so years on your resume. They may think you’re over-qualified and/or will want too much money. Banking pays significantly more than non-profits. I would address that you’re willing to take a pay cut and why in your networking meetings and maybe even your cover letter.

6. Bonnie CoventryJanuary 30,2023 at 8:29PM UTC

   Presentation of your career history will be key for you. When someone thinks their 'over qualified', you need to step back and look at how your resume is being reviewed. Building your LI presence and then connecting with leaders at other companies on there will help build your presence, but don't forget about connecting with those companies recruiters too. They are the ones who will post openings. You may benefit from another set of eyes to review your resume. There's no one fits all resume layout that fits all openings. It may be challenging to find a non-profit that also provides health insurance, they are out there, but do the research. Be realistic on your willingness to take a pay cut. I have seen that backfire even with good intentions. Good luck! I know there's a position just waiting for you!

7. AnonymousJanuary 30,2023 at 9:22PM UTC

   Are you free to work anywhere, or are you tied to a particular location?

   There are industry and business associations in Washington, DC and elsewhere where your financial services background would be an asset.

   Examples:

   Chamber of Commerce (national in DC, local entities nationwide.)

   American Bankers Association (DC)

   National Association of Realtors (national, state and local chapters)

   Mortgage Bankers Association (DC)

   Another area in which you might excel is in counseling small businesses on start-up and expansion issues, most of which deal with banking and finance. Check with small business organizations in your area to see if there are any paid positions.

8. AnonymousJanuary 31,2023 at 1:53PM UTC

   I pivoted from the tech industry to a non-profit in my 50s, and it wasn't pretty. After 22 years with a software company, I was beyond burned out and found myself laid off, so I chose the pivot. Make sure you have plenty of financial resources because what you make at a non-profit will likely be just above minimum wage. Because I had more than 15 years of earning above the Social Security tax maximum, I received more money on Social Security when I retired last year than I was making at the non-profit (net pay, not gross).

   The exception is if you have some unique skills (most of which require licensure) like social work, counseling, or medical training that the non-profit receive "pay for service" from either grants or insurance reimbursements. These will often pay more, but not as much as in the for-profit sector.

   Non-profit work, however, is rewarding. It is not for the faint of heart. You probably have the skills to determine what it will take to maintain a lifestyle. It would be best to decide what you can live without and downsize your belongings and activities before choosing to move. There are a lot of "hidden" expenses that people tend to overlook. There are a lot of luxuries people consider essential.

9. AnonymousFebruary 1,2023 at 1:34AM UTC

   Very good suggestions, thank you!

10. AnonymousFebruary 1,2023 at 2:17PM UTC

    “Non-profit” is as broad a career category as “banking.” There are large and small organizations and everything from universities and hospitals to food banks to advocacy groups for a range of causes to professional associations. You will need to narrow down your interests more and more clearly identify your skills.

    I have worked in mission-driven organizations my entire career, and say that I am lucky to do for a living what many people do for personal fulfillment as a volunteer. But my colleagues are no less driven or qualified than people in the for-profit sector, and most have spent many years building careers. It is frustrating to see people talk about “work for a nonprofit” like it’s a thing you do for fun when you’re tired of your real career, or that volunteering “for a while” is enough to qualify for a job.

11. AnonymousFebruary 1,2023 at 2:29PM UTC

    Hi!

    First of all, can't agree more with the previous posters. Great advice.

    I am just a few years younger than you and went through the same thing, having worked in the banking industry for many years. I was very stressed, but like you, wanted to do something meaningful. I served in many leadership roles, and now I'm doing individual contributor consulting-type work (taking a small pay cut). While it is still in the banking industry, I have found that working for a credit union (in a different role/capacity) has been very fulfilling. I am currently working with a credit union whose mission is to serve the underserved. They are so grateful for any work I do for them, and the employees believe in the mission and make it enjoyable. I find that I don't mind working longer hours. It's not always stressful; the volume of work is great, but the people I work with are lovely and I get a tremendous feeling of gratitude at the work I do for their members.

    In terms of networking, I did not have any success just blindly applying for jobs, or even at various networking events. What did work for me was to reach out directly to my network and let people know that I was looking for work. I sent emails, or reached out to people directly through LinkedIn. Reach out to recruiters, former employees, and perhaps any vendors you may have worked with in the past. Use your LinkedIn network! I had more responses that way, than in any other way I looked for work. Explain to them why you are willing to do 'different' work, even if you seem over qualified.

    Best of luck to you!

12. EMILY KIKUE FRANKFebruary 1,2023 at 5:34PM UTC

    Good luck with your pivot! Keep up with the networking. It's very useful but it often takes time. And if you aren't checking it out already, add Idealist to your list of job boards: https://www.idealist.org/en/jobs?q=

13. Kathy LeskiFebruary 1,2023 at 6:25PM UTC

    Can I ask what role you held at the financial company... I know someone in the same industry and I can relate to the stress it demands. You may be searching for the wrong roles, there are a ton that have been added as technology has evolved. If I know that I may be able to offer some search suggestions. Also, I've found Otta a good job board. It does a much better job of filtering jobs than Indeed or LinkedIn.

14. AnonymousFebruary 1,2023 at 7:25PM UTC

    Hello, I work in Compliance, but also have some prior IT background.

15. Kathy LeskiFebruary 7,2023 at 4:04PM UTC

    You may want to look in the healthcare and pharma space and look for Quality related roles. One other thought is looking @ retailers and finance related roles under Product. Good examples are companies like Home Depot or Best Buy who offer up financing promotions. There are folks internally at those companies that review any advertisement that includes a financing promotion for compliance. One final thought are agencies that produce content/compliance docs. Donnelley Financial Solutions, for example. Good Luck

16. Alice StokerFebruary 1,2023 at 10:52PM UTC

    I would suggest doing volunteer work in the nonprofit area of your choice. It would help you to make connections in the industry as well as give you some experience.

17. Barton LinFebruary 2,2023 at 4:41AM UTC

    I think you can continue in the finance industry, just in a different way, you can make your own investments and enjoy your life. It's not that hard and you can spend more time seeing the beautiful world.