The modern workforce is ever-evolving, and career shifts became increasingly apparent during and after the COVID-19 pandemic. Career changes are often viewed as a pathway to personal and professional fulfillment. During the pandemic, they also became a way to survive shutdowns and supply-chain issues.
Discovering the statistics regarding career changes post-COVID-19 will help businesses learn how to retain their employees and enable employees to know if a career change will benefit them.
This article will explore the intricate dynamics of career changes utilizing our own survey data and presenting it with other past and present statistics to ensure you have all the information necessary to understand this phenomenon.
We discovered crucial information such as:
- 82.84% of individuals changed careers during their working life,
- Almost half (45.60%) move jobs in search of better job satisfaction, and
- 68.33% changed careers during or after the COVID-19 pandemic.
Gone are the days when a person spends their entire life at one job, so let’s figure out why.
Additional key takeaways from our research were:
- Post-Pandemic Career Shifts: A significant increase in career changes was observed post-COVID, with job satisfaction being the leading motivator.
- Transition Period: The majority transition to a new career in less than 6 months despite facing unemployment risks.
- Financial Benefits: A notable percentage experienced salary increases after changing careers.
- Influencing Factors: Key factors in career changes include gender, education level, and the growing trend of remote work.
Related: Feeling stuck at work? Learn what you can do about it.
Understanding Career Changes
We created a survey to understand how COVID-19 impacted career changes for individuals. Our survey had 143 respondents who answered questions between September 13, 2023, through November 9, 2023.
We determined that 82.84% of those surveyed had changed careers sometime during their working life.
Other studies have determined the same. Another recent survey indicated that the average person will switch careers 3-7 times over their lives, and 30% of the workforce will now change vocations or jobs every 12 months due to an increased variety of employment options.
COVID forced many to change careers out of necessity, but it also opened up unique positions and new ways to fill them through remote working options.
Key Motivations for Career Shifts
With the increase in career shifts, it is essential to understand why people are switching careers. According to the respondents in our survey, the primary reasons for a career change included job satisfaction (45.60%), salary (21.60%), work-life balance (18.40%), and career growth (14.40%).
Job satisfaction is a key motivation for changing careers. (BrainManager.io Career Change Survey, 2023)
Additional studies demonstrate that those who choose career changes for job satisfaction and a sense of fulfillment are typically happier. However, studies show that many who decide solely on salary have less job satisfaction.
In addition, a recent study by Frontier Psychology also showed that individuals are less likely to accept a higher salary at a different organization if they feel their work is meaningful. They are needed within their current position.
This study demonstrates that while salary is an important factor in switching careers, job satisfaction is essential to a happy work life and must be at the forefront of the decision-making process.
Age Dynamics in Career Changes
When asked, "At what age did you make your first career change?" the most significant number of survey respondents said they changed careers for the first time when they were 25-30 years old. The least number of people changed jobs for the first time once they hit 40 and older.
Trends suggest that people are changing careers at younger ages than in the past. (BrainManager.io Career Change Survey, 2023)
This data is interesting as another study determined that the average person changes their career at 39, contradicting our findings.
While it is true that our sample size was limited, our findings may also reflect changes happening with Millennials and Gen Z in the workforce. For example, younger generations are not loyal to companies in the same way that Baby Boomers and Generation X once were and are changing jobs and careers more frequently.
A 2013 study determined that having more senior members of the same sex as a junior employee decreased the likelihood of exiting a job, especially if the junior was a woman with a female supervisor. However, male and female junior staff left a job more frequently if they had peers of the same sex and race, especially among racial minorities. This is likely because these juniors may feel less valued and easily replaced.
According to all the data we reviewed, the workforce's younger and older “bookends” are the least likely to change careers. However, having a good relationship with your manager and feeling valued, indicators of work satisfaction, still play a major role at any age.
Navigating the Challenges of Career Transitions
Understanding why individuals decide to change careers is the first step, but there are so many challenges that people will face, which will also impact whether or not they choose to do so. These challenges include the timeframe to find a new career, the financial impact of leaving your current job, and whether switching jobs will impact your risk of unemployment and job security.
Timeframe of Career Transitions
When our survey participants were asked how long it took them to transition to their new careers, 71.07% said less than 6 months, while 28.93% said longer than a year. Similar research from 2019, before COVID-19, noted that most people took less than 6 months to plan a career change; on average, it took 11 months.
Financial Considerations and Impacts
90.91% of people in our survey reported receiving an increase in their salary due to their career change. But with inflation, decreasing job stability, and increased interest rates for many, the question is: What about changing careers during an economic recession?
Though we may not be in a "recession," we are still experiencing economic downtime.
Conventionally, many say that switching jobs during an economic downturn is a bad idea. However, it can be just as good a time as any as long as you have done your due diligence in planning before you exit your previous career and have secured the right position.
Unemployment Risks and Job Security
Part of your due diligence is ensuring you eventually find employment in your new career. 61.67% of our participants faced unemployment during their career change. However, while switching careers can result in unemployment, starting a position doesn't necessarily mean you will have reduced job security.
Lack of job security isn’t just because you are a newbie. Factors that affect job security include:
- Whether or not you have a good relationship with your manager. A better relationship often improves job security.
- Moving to a company that is in good financial standing is a positive move, so ensure you do your research before you make the switch.
The Rewards of Career Changes
Now that we have discussed the potential negative impacts, there are also great incentives to changing careers, from increased job satisfaction to better financial outcomes (if executed correctly) and what careers have the most successful outcomes.
Job Satisfaction Post-Career Change
Our survey participants reported their career change was a success at a rate of 97.48%!
Another 2023 report that assessed whether employees were currently happy with their jobs found:
- 51% were highly satisfied with their job,
- 67% were extremely satisfied with their co-workers,
- 62% were extremely satisfied with their manager,
- 78% feel they were treated with respect,
- 72% had at least one friend at work, and
- 65% feel their contributions are valued.
These elements lead to career satisfaction and employees staying in positions long-term.
Financial Outcomes of Career Changes
Another element that leads to career longevity is increased financial stability. 90.91% of individuals in our survey reported an increased salary post-career change, but remember, 61.67% also faced unemployment during their career change. Changing careers must be executed appropriately to avoid the negative impacts that may arise.
To plan for a career change, experts recommend you:
- First, research the process of getting to your new career, i.e., whether you need to go back to school or can seamlessly transfer over, and prepare for the time it may take to find a new job. It goes without saying, make sure that the career is one that matches your interests.
- If you leave your current career without a new position, ensure you have at least 3-6 months of living expenses set aside so you don’t need to touch your retirement savings or other savings and will be able to cover your bills.
- Finally, consult others for advice, i.e., a career counselor, a small business representative, a graduate school professor, or an individual holding a position in the field you hope to transition to.
Successful Career Transitions
Our survey found that 97.48% of participants considered their career change successful. Aside from adequately planning for your career change, it's also a matter of what job you are seeking.
For those looking to switch careers but unsure what to consider, Money USA published a list of the best careers to switch to based on salary, job satisfaction, and relatively stable job prospects.
Money's top 10 included:
- Software Developer: Median salary = $120,730, Work-Life Balance Score 8.0
- Market Research Analyst: Median Salary = $63,920, Work-Life Balance Score 6.0
- Logistician: Median Salary = $77,030, Work-Life Balance Score 4.0
- Management Analyst: Median Salary = $93,000, Work-Life Balance Score 10
- Occupational Therapy Assistant: Median Salary = $61,730, Work-Life Balance Score 6.0
- Computer Systems Analyst: Median Salary = $99,270, Work-Life Balance Score 6.0
- Financial Advisor: Median Salary = $94,170, Work-Life Balance Score 6.0
- Data Scientist: Median Salary = $100,910, Work-Life Balance Score 8.0
- Respiratory Therapist: Median Salary = $61,830, Work-Life Balance Score 4.0
- Construction Manager: Median Salary = $98,890, Work-Life Balance Score 4.0
Demographic and Environmental Factors in Career Changes
Finally, demographic and environmental factors impact whether or not individuals seek career changes. They include gender, education, and the changes that the COVID-19 pandemic and remote work have brought to the workforce.
Gender Perspectives in Career Changes
According to a recent survey by Search Engine Land, women are more likely to change jobs or have received promotions more recently than men. 55% of women had received a promotion or switched jobs within the last year, compared to 47% of men.
Women listed the reasons for changing jobs more frequently than men as the following:
- Improved work-life balance, as women do more caregiving than their male counterparts,
- The gender pay gap, as women leave to find better opportunities and increased salaries elsewhere more often than men,
- Lack of advancement opportunities due to difficulty with the ‘glass ceiling' many women face in the workplace,
- Workplace discrimination and harassment that include gender-based discrimination, bias, or harassment,
- Career breaks, as women are more likely to take breaks for family and
- Need for more support systems, i.e., lack of maternity leave, child care assistance, and flexible working arrangements that allow them to care for their family while they work.
In addition, 80% of men were either extremely satisfied or somewhat satisfied with their roles compared to 74% of women, meaning women are more likely to look for new opportunities based on satisfaction.
The Role of Education in Career Mobility
Education can play a significant role in career success. It also influences career changes. College graduates receive 57% more job opportunities throughout their lifetimes, and their jobs tend to be less vulnerable to job cuts. In addition, according to the U.S. Bureau of Labor Statistics, more education leads to better prospects for earning and employment. Earnings increase while unemployment decreases as education level rises.
However, even with more opportunities, career changes from a niche field may make a career change more difficult in some situations, but overall, education assists in career mobility.
COVID-19 and Remote Work Trends
Finally, the COVID-19 pandemic and remote trends significantly impacted career changes. Our survey found that 68.33% of individuals experienced a career change during or after COVID-19, and 76.52% stated they made a permanent switch to working remotely vs working in an office.
When asked if they had more job satisfaction working at home or remotely, 54.17% said in the office, 40% remotely, and 5.83% had never worked from home.
Remote work is not for everyone; many were happy to return to the office post-COVID. (BrainManager.io Career Change Survey, 2023)
When examining other research, the U.S. Bureau of Labor Statistics determined a decrease in employment of 13.6% or 20.5 million jobs between March and April 2020, during the middle of the COVID-19 pandemic.
The industries most affected by COVID-19 included:
- Accommodation and food services such as hotels,
- Restaurants,
- Bars,
- Retail,
- Manufacturing, and
- Construction.
The industries least affected by COVID-19 included:
- Healthcare,
- Communications and healthcare equipment,
- Pharmaceuticals, and
- Insurance.
The adoption of digital technology increased as many were forced to adopt it to support medical consultations, deliver healthcare services, track the spread of the virus, and improve the availability of remote work.
Conclusion
The post-COVID-19 era has seen a significant shift in career dynamics, as highlighted by our survey and corroborated by other studies. Notably, 82.84% of individuals have changed careers, driven mainly by job satisfaction, salary, work-life balance, and career growth.
In our study, most career changes occurred between ages 25 and 30, and financial considerations are critical, with 90.91% reporting a salary increase post-change.
The pandemic has also influenced the workforce, with many transitioning to remote work. Gender and education significantly impact career decisions, with women more likely to change jobs for a better work-life balance and higher education correlating with more job opportunities.
Our findings and additional data underscore the importance of job satisfaction and financial stability as influences on career changes that employees and organizations must consider to increase career longevity. For individuals, having a clear career path or creating a career map can make navigating these changes easier and more intentional.
