Changing industries can open up a broader range of opportunities for executives who want to reinvigorate a stalled career, seek to combine their skills and interests in a new arena, are stuck in a dying/declining sector, have limited options in their desired geographic location, or are impacted by the increased outsourcing of operations overseas. According to a study by the New York-based Association of Executive Search Consultants, nearly 50% of the executives surveyed are searching for brighter horizons by considering an industry change.
Although product and industry knowledge are important to some companies in certain industries, it is possible to make a successful industry transition through a focused, systematic process-without having to reduce your compensation level. Unless a position requires industry-specific technical knowledge or contacts, you can build a clear case that will illustrate your ability to succeed in a new industry. In fact, some employers relax their search criteria as hiring picks up, opening up the door to industry transitions.[give_form id=”94080″]