Best Jobs for Career Changers
Changing careers no longer carries the stigma it once did. According to the Bureau of Labor Statistics, the average person now spends about four years with one employer before moving on with Millennials and Gen Z changing careers more frequently than older generations.
Whether you are considering changing industries, job function, or a complete career pivot, when transitioning to a new career path, success often depends on leveraging your transferable skills. Employers value candidates who can demonstrate how their previous experiences make them uniquely qualified. Fortunately, there are many roles where diverse backgrounds can be a major asset. In this post, we’ll explore some of the best career change opportunities
Career Change Option: Market Research Analyst
Market research analysts interpret data to help businesses make informed decisions. They play a critical role in attracting and retaining customers, often collaborating with multiple departments.
Among the many in-demand second-career options, marketing specialists will always be needed. Market research analysts are especially valuable in industries like insurance, where fresh insights are constantly required.
The median salary for market research analysts is $84,764. A bachelor’s degree in communications, marketing, business, or a related field is common, along with strong writing, clerical, and reading comprehension skills. Professionals with backgrounds in business, sales, marketing, or customer service tend to excel in this role.
Career Change Option: Human Resources Specialist
Human resources (HR) professionals play a vital role in managing an organization’s workforce, from recruitment and employee relations to benefits administration and compliance. These roles require strong interpersonal skills, problem-solving abilities, and a keen understanding of workplace dynamics, making them an excellent option for career changers.
Success in HR requires excellent communication skills, organization, and the ability to work with diverse teams. Experience in customer service, management, or administrative roles can be particularly beneficial in transitioning to HR. Familiarity with employment laws, payroll systems, and talent management software is also an asset.
While not always required, most HR specialists hold a bachelor’s degree in human resources, business administration, or a related field. The median salary for HR specialists is $67,650. Since every industry, including insurance, relies on HR professionals to manage their workforce, career opportunities in this field are abundant.
Career Change Option: Actuary
Another high-demand second-career option is becoming an actuary. Actuaries use statistical analysis to assess risk and predict potential losses, making them vital to many industries.
A strong foundation in mathematics is key, with knowledge of advanced calculus and linear algebra being essential. Higher-level math skills can lead to increased earnings. However, actuaries also need strong analytical abilities and an understanding of human behavior.
Most actuaries hold at least a bachelor’s degree, but passing actuarial exams is the true gateway into the profession. Actuaries come from diverse educational backgrounds, including physics, engineering, and even the arts.
This diversity of experience is beneficial, as actuarial careers span various industries, especially insurance. Given their specialized expertise, actuaries command a median salary of $104,039.
Why Consider a Career Change to Insurance?
The best career change opportunities typically offer three key benefits: job security, strong growth prospects, and the ability to thrive using transferable skills.
Fast-growing
Employment in the insurance arena has experienced steady growth for over three decades, a trend that is expected to continue. Experts predict significant expansion in the global insurance market in the years ahead. In addition, the wave of Baby Boomers retiring over the next ten years will open additional job opportunities.
Job security
Historically, the U.S. economy has faced recessions approximately every five years. During economic fluctuations, jobs come and go, but some industries remain stable. Insurance is one of them. No matter the state of the economy, people always need insurance, making it a secure career choice.
A Diverse Range of Career Backgrounds
Career changers find that making a job change to insurance is positive, welcoming, and inclusive. Success in this field depends on a broad spectrum of talent, from HR professionals and analytical minds to graphic designers and customer service experts. By applying your unique skills, you can build a thriving career in insurance.
Looking for More Career Change Ideas?
Switching careers is a significant decision, and you’ll want to make sure you’re heading in the right direction. If you’re still exploring career change options and need guidance, MyPath’s career role resource can help you find an insurance career that aligns with your strengths and interests.