Should I change careers if it will lead to financial difficulty?

I am currently working in Clinical Research, however, I'm not really that interested in this job. I have a large mortgage and debts to pay. My current salary is enough to get by but if I change careers I have to start over again. I don't think I could afford a pay cut and may struggle financially.





People I know say I should "just change my job", but it is not that easy, especially if I will struggle financially. Should I listen to people telling me to change jobs, or should I stay financially stable?

Should I change careers if it will lead to financial difficulty?
The answer is complex which is why you are soliciting other opinions.





If you leave this job you do not like and take one you do, but cannot meet your financial obligations, you are trading one set of problems for another. Yes, you may in fact love going to work, but you will hate opening the mail or looking at your dwindling account balances. You will most likely still not find happiness.





There are ways to change jobs and take pay cuts, but it is all basic math.





First, you must completely understand your cash in and cash out. The mortage is easy to see, but you need to understand entertainment, eating out, dating, or anything variable expense.





Once you know that, you will know two things - how much you must have to live on, and what items are candidates to be cut.





Second, depending on your situation, you will need to consider reducing your overhead. If you can sell your real estate and downsize, you may relieve yourself of that large monthly obligation thereby allowing you to reduce your income. You can look at things like basic cable, your cell phone bill, and even auto insurance.





But, if at the end of the day you cannot reduce your liabilities sufficiently and you are not in any physical danger, you should not leave the well paying job for a lessor paying one or suffer the pressures of financial insecurity.





Hope this helps.





If you have any further questions, feel free to email me at:


mike@directyourcareer.com


http://www.directyourcareer.com
Reply:Stay where you are and look for hobbies to fulfill yourself more. Once you are in a better finacial situation you can consider switching careers. Be responsible, and wouldn't not making it financially stress you out more than your uninteresting career.
Reply:There is an advantage to giving advice. The advisor doesn't have to live with the consequences.


My suggestion to you is to continue to work at your current position while you have your Resume in circulation.


You know the minimum compensation you can live with and do not accept any position under that level.


Starting a new career or career path does not necessarily mean starting over at the bottom.


Your past experience is always marketable and should give you an opportunity to negotiate a better compensation package.

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