Posted by
eck
19 yrs ago
I am a single 32 year old woman working in a specialised role in an investment bank. I have been working for my current employer for nearly 9 years. Having gone through some tough personal times I feel I need to take some time off (6 months+) for my own sanity. My employer will not grant this.
I am thinking of leaving but I am terrified of resigning without having a job to go back to. My role is so specialised it is not available in other places. I am not entirely confident my skills will be transferable in another company to get me a job with similar seniority and pay.
Has anyway taken a career break and found it difficult to get back in the work force, or had to take a step down in seniority/pay when they returned?
Or does anyone have positive stories of taking a career break in terms of gaining on a personal level. What did you do in your time off, and did you have problems adjusting back to normal life and getting a new job.
Or does anyone have any advice on career breaks/sabbaticals in general.
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nine years in a highly specialized role should give you some leverage.
how specialized is "specialized"? is there no one to cover for you when you are gone? is it work that must be performed every day, or on a per-project basis?
perhaps you can negotiate the length of your leave. if you are "terrified" of losing the safety net of your job, then don't resign. but you may have to accept a shorter leave period.
how long a leave is your employer prepared to grant you? can you combine accumulated holiday leave with leave without pay?
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dss
19 yrs ago
Some items to consider for planning career break:
- financial status for now and ?? yrs ahead.
(any loans, mortgage etc in the event that you cannot find the right job for 1 yr)
- evaluate yr skills to x-check what other jobs that you can secure in the event that you cannot find something similar
- discussing options with current employer on what is the duration that she/he is prepared to give and you will be allowed to keep current job when you come back
- benefits loss, medical insurance coverage etc
(some company will practice no benefits during unpaid leave)
Some companies also practice "no job guarantee upon return" due to biz downturn.
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I spent 9 years with a large bank and was laid off after the business line was sold and the tranistion complete. Enjoyed 6 months off and had no trouble getting offers from other banks, hedge funds and law firms. I try to find connections and similarities in roles to sell myself and kept my eyes open on other roles where my skillset could be used.
I don't know if you are only interested in working in the exact field you are in now.
I am married and have a safety net that my husband and I can live on one salary. I know it can be scary to quit without anything else so you need to figure how much you need this break.
On a positive note, I never hear anyone complain after taking time off they usually say it's the best thing that ever happened to them.
Good Luck!
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Taps
19 yrs ago
I think it is a choice, if your job is so special, banks, hedge funds and others will rush to take you anytime.
More so if you graduated from a good university.
Of course it is worrying to lose job, but you should be "up" there with your specialization and nothing can frighten you to move forward.
And you have probably have save enough for the rainy days.
I am married and have safety net like lockeja, I was reduced to part-time jobs after I got married(one was embassy job, another in one of the ward office in Tokyo goverment), my job is also very specialized, and can be heartbreaking sometimes to watch TV or embassy visit of goverment officials to see my peers so high up now.
Before coming to Guangzhou, again I took another sabbatical to join my husband.
But no regrets though, I love my life and hubby is indulgent that I can go to university and continue learning something.
If you can go back to school to update your resume, this is a good time to do it.
You may end up as part-time lecturer, at the same time studying because of your experience.
Sometimes we have to leave behind something to gain a new one.
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Hogn Kong is booming and people are aching for employees. Have a rest, you will get a job. The other option is to talk to HR and see if they have a leave of absence policy... also after 9 years you must be entitled to some form of sabbatical or long service leave..
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eck
19 yrs ago
Thanks so much for the responses. It is comforting to hear about real-life stories about career breaks. Though it’s a bit more nerve wrecking doing this whilst I am single without the “safety net” of a husband. Any single gals done the career break thing?
Voice of reason- my role is fairly specialised in terms of the knowledge I have (which can be documented though its complex to), and the way I apply that knowledge or trouble shoot and resolve problems. I work more on a project basis, but always have a few running concurrently. I just accepted a relocation to Asia, hoping this change would be what I needed, so I don’t have much leave accumulated.
Lokeja- I would love to branch out into other fields when I resume looking for work. I guess I am just afraid the break will be a negative. I just always assume its easier to get a new job when you are employed. Also I am a bit trepidant about taking a pay cut and building up my reputation/skills/knowledge again.
Taps- my job is not so much “special”, it is specialised or specific to the particular bank I am working at. It involves working on the bank’s proprietary systems/applications.
Adelaide/DSS – thanks for the suggestions, but the company does not allow any such flexibility (leave of absence, unpaid leave etc) by right – I would need my manager’s support for this. I have asked for this and they have said No.
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eck -
I was 31 and single when I left my senior mangement & marketing position in year 2000 and went study in a naturopathic college in Sydney.
I used to blow most of my income on designer clothes, shoes, handbags and dining out, so I didn't have much savings to speak of. I didn't have what most here called a "safety net" of a husband. My only safety net was my capability and flexbility. The only thing I could fall back on was myself.
I left my job because I needed to "revive" my life - I was very bogged down by work. I needed time off to "review" and "re-establish" my goal in my life. I thought about the possibilities and the what ifs. So I made my choice in January 2000 and left HK in May 2000.
Having been in the workforce for a number of years, trust me, it will definitely take some getting used to when you first quit your job.
It wasn't even funny how I thought I could manage with a full-on schedule. I signed up for 10 classess the first term I went back to school. On top of that, I took up a part-time job in an industry which I had longed to get in but never before set foot in.
I then realized I had made myself too occupied and therefore adjusted my schedule the next term. I also started to learn to enjoy living a life. I realized I needed a real break after two terms of study, I left Sydney and spent a monthlong holiday in Europe. I went back to Sydney completely recharged.
I had legal Australian permanent residency so didn't have to worry about the limitations of being on a student visa. Over the following two years, I alternated my time in Sydney and Europe - 3 months (one school term) working on my diploma in Sydney and 3 months travelling and taking classes in UK and France. It was a eye-opening experience in personal growth for me. It was then I really understand what possibilites was all about. It is something that we create for ourselves. It can and may have nothing to do with what we already have e.g. money, work experience, professionionl status, etc. I also learned what freedom was all about.
Yes, I did prolong my studies but so what. I was enjoying my life so much and found a whole new me. After I "finally" graduated from the naturopathic college, I spent three months in a retreat in south of France. And then went to the States to obtain other professional qualifications in the healing arts.
Armed with these experiences and qualifications, I landed a consultancy and training job in the industry I longed to be in - wholistic natural health. After two years of being employed by a company, I decided it wasn't the lifestyle that I wanted to lead. So I left this job in late March 2006. I have remained what my friends called "volunatry unemployed" for almost a year to date.
Late last year, I struggled between getting a full-time job (being employed) and working as a freelancer. I wrote down all the pros and cons of each and my top priorites. This analysis came out pretty clear - while I need to make some money to support my simple and quality lifestyle (I'm into natural and organic stuff), I want to have the freedom in choosing who I work with and how I work with them. I don't want to be tied down to a job just because of financial security. I feel it's more important to have time to do things that I enjoy.
An opportunity to provide in-house training for a company in the natural health products industry had just come up last week. My first trainings were delivered yesterday and today. And after today's we were already discussing ongoing trainings on a regular basis.
I must admit I earn a whole lot less than what I used to and it's not going to be stable but I really enjoy what and how I am doing.
I hope my sharing will give you some insight and whatever path you choose to embark on, I wish you bliss and health.
with love & light
Sylvia
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Taps
19 yrs ago
I hope the other ladies esp. Sylvia's insight will inspire you to move forward.
In Japanese, we always say, "Gambatte ne" or do your best.
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I'd say I'm on a sabbatical right now while I'm a trailing spouse. (Yep, do have that safety net of having a high-career level spouse.) I would advise that you do everything possible to try and salvage your sanity and career at the same time. Especially since you imply that your "value" in terms of high-income capacity is limited to proprietary systems at this one bank and that you might not be marketable "across the board." A second issue is that your "value" as an employee might be related to knowledge that changes rapidly, so when you seek another position after a sabbatical you might not be quite as up-to-date and so not quite as marketable. To salvage your sanity and your job, are there any changes inside your job role that you can do, right now, that would make life more bearable? For instance, change of work hours, longer lunches or more flexibility, quit taking work home at night, work four ten hour days so you have a three day weekend, take comp time, save money and go on more "weekend getaways", etc? Another bit of observation is that having a good boss is everything in a job. Reading between the lines, it sounds as if your boss might be an inflexible, old-school a. h. (and, if he's old school, likely also to be chauvinist and not giving you promotions etc anyway). Is there a possibility of another transfer to a better boss somehow, somewhere? (Why did you lose your annual leave when you transferred?!) I'd advise that you cultivate relations above your boss's level and maneuver for a transfer or even a promotion that will take you out from under him and to a bigger playing field or a better manager. I'm not talking about disloyalty or stabbing anyone in the back, just finding ways to collaborate with others, extend beyond the requirements of your single department, seek more exposure, get out from underneath someone who is not a good manager. In terms of broadening experience and therefore marketability, consider the idea of cross-training as well. Finally, prepare for the worst. If you think you won't be able to stand it, be saving saving saving your money. In my world view, it's perfectly legitimate to seek to change to a role in life that is more fulfilling even if it means a drastic cut in pay or lifestyle. You just have to be prepared for the consequences -- a drastic changes in lifestyle and possibly much less security in your old age. I hope you are saving for retirement, but add to that savings for your career switch! Imagine if you were able to live off investments? Wouldn't that be liberating? There's a book "Your Money or Your Life" which is really old but he has lots of ideas on how to cut living expenses drastically and then save the money. I once heard a quote something like, "you can live as if you are rich, and remain poor, or you can live as if you are poor and become rich." The idea is, you can never save too much, and in the end that will give more flexibility to pursue your true life goals.
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