5 secrets of successful career changers

By Carolyn Bigda and Donna Rosato


(Money Magazine) -- Tolstoy wrote that unhappy people are each unhappy in their own way. The same can be said of American workers today.

In a bleak survey out earlier this year, the Conference Board reported that job satisfaction was at its lowest level in more than two decades. And the sources of employees' unhappiness ranged across a broad spectrum of misery, from job insecurity to meager pay.

Maybe you feel it too: the weariness that comes from doing more with less, the nagging feeling you could get a pink slip at any time, or the futility of being unemployed and unable to find work in your field.

All this unhappiness has a lot of people rethinking their paths. Nearly 50% of job seekers recently surveyed by employment site Monster.com said they wanted to make a career change; 89% said they'd consider it to find work.

To figure out what such a switch takes, Money interviewed dozens of people who successfully moved to more stable, satisfying careers in the midst of the worst (though slightly improving) employment market in nearly 30 years. We've zeroed in on five whose smart strategies could help you too.

Secret 1: Show how your talents translate

Secret 2: network outside the box

Secret 3: get the skills you need on the cheap

Secret 4: get your finances in order

Secret 5: turn your passion into an asset To top of page

Compensation experts PayScale.com analyzed the 30 biggest industries to show how pay changes as you gain experience. Here is a look at the industries where you have the best potential to make up for a midcareer salary cut - and the worst.
Untitled Document
Industry Median Pay (1 Year of Experience) Median Pay (5 Years of Experience) Median Pay (15 Years of Experience) Pay Growth from 1 to 5 Years of Experience Pay Growth from 1 to 15 Years of Experience
Information technology$36,800$58,300$104,00058%183%
Retail Trade$35,500$51,300$91,00045%156%
Banking$32,900$49,300$83,90050%155%
Securities, commodies and other financial trading activity $46,100$65,200$114,00041%147%
Funds, trusts, and other financial vehicles$42,800$60,700$103,00042%141%
Hospitality (hotels and other lodging)$29,200$42,000$68,80044%136%
Real Estate, rental and leasing$35,000$46,300$82,20032%135%
Wholesale trade$41,000$56,300$92,30037%125%
Professional, scientific, and technical services$41,400$57,000$92,10038%122%
Arts, entertainment, and recreation$30,600$42,200$67,70038%121%
Insurance carriers and related activities$38,900$54,000$84,70039%118%
Administrative and support services$35,000$48,400$73,40038%110%
Manufacturing$43,100$57,500$89,90033%109%
Food services and drinking places$30,600$40,200$61,80031%102%
Transportation and support activities$39,900$53,300$79,00034%98%
Construction$42,700$55,600$84,40030%98%
Postal service, couriers and messengers, warehousing and storage$40,000$51,200$78,30028%96%
Management of companies and enterprises$40,000$50,300$76,80026%92%
Agriculture, forestry, fishing anhdunting$37,100$46,900$70,30026%89%
Mining$54,200$65,300$101,00020%86%
Utilities$52,500$67,000$97,40028%86%
Other Services (except Public Administration)$33,900$42,200$62,00024%83%
Federal government$46,000$61,500$81,90034%78%
Public administration$43,500$55,700$75,90028%74%
Educational services$36,300$43,000$59,40018%64%
Nursing and residential care facilities$38,100$46,700$62,30023%64%
State and local government $38,200$47,200$62,10024%63%
Social assistance$30,000$35,200$47,00017%57%
Ambulatory health care services$42,700$49,700$66,00016%55%
Hospitals$50,900$58,900$70,80016%39%
Notes: Data is for medican pay based on the number of years you spend in a field for people with a bachelor's degree or higher.
Source: PayScale.com
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.56%3.68%
15 yr fixed2.78%2.91%
5/1 ARM2.62%2.79%
30 yr refi3.55%3.75%
15 yr refi2.77%2.99%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 14,865.14 62.90 0.42%
Nasdaq 3,300.16 2.91 0.09%
S&P 500 1,593.37 5.64 0.36%
Treasuries 1.79 -0.01 -0.78%
Data as of 5:39pm ET
Company Price Change % Change
Microsoft Corp 28.94 -1.34 -4.44%
Bank of America Corp... 12.27 -0.05 -0.41%
Intel Corp 21.82 -0.44 -1.95%
Pfizer Inc 30.64 0.72 2.41%
Ford Motor Co 13.55 0.43 3.28%
Data as of 4:01pm ET
Sponsors

Sections

A former partner at KPMG was charged Thursday with providing illegal stock tips to a friend about the global auditing firm's clients. More

"I cannot afford to have my Social Security cut by one penny! Plain & simple." More

At least with reviewers. HTC's latest smartphone is creating incredibly positive reactions. More

As many doctors struggle to keep their practices financially sound, some are buckling under money woes and being pushed into bankruptcy. More

With a YouTube video, tweets and Facebook postings, teen idol Justin Bieber unveils a prepaid debit card aimed at teens. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2013 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2013 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2013. All rights reserved. Most stock quote data provided by BATS.