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Changing domains


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Read this to understand how to approach a job change when you are changing domains, say going from banking to real estate. It is not only about sending your resume out, it is also about knowing what to write in resume so that hiring managers can understand.

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Changing domains

  1. 1.         Changing  Domains   Moving  successfully  from  one  domain  to  another   Changing  domain  of  your  work  requires  careful  consideration  because  there  is  a  high  risk  involved.   Following  the  five-­‐step  process  described  in  this  document  helps  you  to  maximize  your  chances  of   success  at  this  transition.         Mrityunjay  Kumar   Chief  Career  Coach    
  2. 2. ©  2016  Career  Bloom     Page  1             Changing  Domains   There  are  5  aspects  that  should  be  kept  in  mind  when  doing  such  a  transition.  For  the  following   description,  we  take  the  example  of  a  move  from  Banking  into  Real  Estate.       Analyze  Motivation   You  should  be  reasonably  clear  (and  honest)  about  your  motivation  behind  the  change.  Here  are  a  few   questions  you  should  ask  of  yourself:     1. Why  do  you  want  to  move  into  real  estate?  Here  are  a  few  typical  reasons  to  do  so:     a. You  see  it  is  a  booming  field  and  people  make  lots  of  money,  and  you  would  like  to   make  money  too.     b. You  see  the  work  people  do  and  you  like  that  work  much  more  than  you  like  your   current  work.     c. You  think  that  real  estate  will  help  your  career  grow  much  faster  than  banking  and  help   you  achieve  your  career  and  life  goals  faster   d. You  need  some  change  and  real  estate  seems  as  good  as  any.     2. Why  do  you  want  to  move  away  from  banking?  Here  are  a  few  typical  reasons:     a. You  feel  bored  in  your  current  role  and  don’t  see  a  way  it  is  going  to  change  any  time   soon   b. You  think  Banking  as  a  sector  will  not  give  you  the  kind  of  challenge  or  growth  you  need   c. You  don’t  like  your  environment  (boss,  company,  location,  etc.)  and  want  a  change     Answer  above  questions  and  see  what  really  motivates  you  to  consider  this  change.  If  you  don’t  have  a   good  reason  (when  you  answer  these  honestly),  you  should  wait  and  spend  more  time  researching  (see   below)  to  see  if  a  reason  emerges.  Otherwise,  you  should  make  your  current  domain  role  work  for  you   by  doing  change  within  the  domain  (some  of  the  advice  below  will  be  applicable  in  that  case  too).         Research  the  new  Domain   It  is  not  easy  to  do  a  domain  change  successfully,  and  so  there  is  inherently  a  risk  involved  in  it,  as  your   advisors  are  telling  you.  To  navigate  this  change  successfully,  you  need  to  prepare.  Here  are  a  few  things   that  has  worked  for  people  I  have  seen  do  such  domain  changes  well:     1. Be  specific  about  your  goal.  Just  having  an  interest  in  a  domain  doesn’t  help  much  in  making   decision.  There  are  thousands  of  roles  within  a  domain  that  you  could  be  eligible  (or  ineligible)   for.  It  is  important  to  zoom  into  a  role  that  will  interest  you  and  have  a  good  chance  of  accepting   you  you’re  your  current  experience.  Identify  the  actual  role  you  want  to  get  into.  Research  on   job  portals  to  know  specific  details  of  jobs  that  get  posted,  skills  they  require,  salaries  they  offer,   etc.     2. Meet  people  who  do  the  role(s)  you  have  identified  for  investigation.  Find  such  people   through  your  network  of  friends  (LinkedIn,  Facebook  or  other  social  media  tools  are   indispensable)  or  other  means  you  are  comfortable  with.  Ask  them  to  describe  their  job   description  and  a  day  in  their  life  doing  this  role,  as  well  as  career  growth  they  see  in  front  of   them.  Sometimes,  it  will  surprise  you:  appearance  of  a  role  from  outside  can  be  very  different   than  what  the  role  really  entails  80%  of  the  time.    
  3. 3. ©  2016  Career  Bloom     Page  2             3. Research  about  career  paths  available  from  this  role.  Sometimes,  a  role  may  feel  very  good  and   challenging,  but  growth  options  from  that  role  will  be  very  limited.  It  is  important  to  be  careful   when  deciding  on  such  roles.     4. Give  lots  of  interviews  –  applying  for  roles  and  getting  invited  to  interviews  is  a  great  way  to   know  about  a  role  and  whether  you  will  fit  in.  Try  to  get  some  interviews.  However,  make  sure   that  you  don’t  do  interviews  (and  fail!)  in  companies  that  you  would  really  like  to  work  in.  Try   smaller  companies,  they  are  easier  to  get  interviews  from.     Analyze  your  Strengths   Having  an  interest  in  the  area  is  not  enough.  It  is  also  important  to  know  what  skills  and  strengths  are   required  to  be  successful  in  that  area  and  whether  you  possess  them  or  not.     Once  you  have  done  your  research,  you  will  know  the  skills  and  strengths  required  to  be  successful  in   your  chosen  role  and  area.  Spend  some  time  in  figuring  our  whether  you  possess  them  or  not.  Here  are   a  few  ways  to  figure  out  your  strengths:     1. Friends  and  Family:  People  around  you  usually  know  your  strengths  (and  weaknesses)  better   than  you.  Leverage  them.     2. Analogy  from  past  events:  Try  to  remember  past  experiences  of  work  which  would  be  similar  to   what  your  research  suggests  you  will  have  to  do  in  the  new  role.  Remember  your  emotions   while  doing  that  work;  your  remember  position  emotions  from  the  work  you  like  to  do  and/or   can  do  well.  Read  Flow  and  see  if  you  haven’t  been  in  such  an  experience.     3. Assessments:  There  are  lots  of  personality  and  other  tests  that  you  can  take  to  get  you  some   sense  of  your  strengths  -­‐  MBTI,  Big  5,  StrengthsFinder,  etc.       Minimize  the  Risk  of  transition   It  is  important  to  reduce  the  risk  in  such  transition.  Here  are  some  of  the  outcomes  that  can  happen:     1. Successful  Change:  You  have  a  new  role  in  real  estate,  and  you  are  doing  good.     2. Successful  rollback:  You  take  up  a  new  role,  it  doesn’t  work  out  well,  you  come  back  to  your  old   role  (same  company  or  different  company)  successfully.     3. Unsuccessful  Change:  You  are  trying  for  a  new  role  but  you  don’t  get  it.  But  you  still  have  your   old  job.   4. Unsuccessful  rollback:  New  role  doesn’t  work  out,  and  you  are  unable  to  get  a  job  in  your  old   role.       It  is  always  a  good  idea  to  try  out  the  role  without  leaving  the  old  one.  You  can  do  it  in  many  ways:     1. Shadow  a  friend  who  is  in  the  same  role  for  a  few  days  and  go  through  exactly  what  they  go   through   2. Take  a  1-­‐2  months  break  (if  your  company  allows  you)  and  take  a  job  in  the  role  you  want.     3.  Take  a  part-­‐time  job  for  1-­‐2  months     Of  course,  #4  is  the  least  desirable  and  scary  situation,  and  the  chance  for  that  happening  should  be   made  as  close  to  0  as  possible  through  careful  management  of  this  transition.  Motivation  analysis  and   Domain  Research  are  intended  to  help  in  this.      
  4. 4. ©  2016  Career  Bloom     Page  3             Prepare  well   When  you  have  done  all  the  3  steps  above  well,  and  are  still  on  track  to  do  the  change,  make  sure  you   do  the  following  well  to  prepare  for  this:     1. Resume  –  Make  sure  your  resume  is  written  in  a  way  that  appeals  to  real  estate  folks.  To  do  this,   create  a  domain  independent  resume  and  get  it  reviewed  from  someone  who  is  in  Real  Estate   2. Interview  preparation  –  Your  word  choice  and  project  descriptions  become  surprisingly  domain   dependent  after  you  have  spent  a  few  years  in  a  domain.  You  need  to  prepare  well  through   mock  interviews  and  writing  what  you  want  to  speak,  and  change  your  language  to  be  more   domain  independent,  or  still  better,  real  estate  focused  (if  you  have  done  your  research  well,  it   should  be  easy  to  do  so).     3. Network  –  Most  good  jobs  will  be  obtained  through  your  network,  so  invest  in  networking.   Attend  events  and  conferences  for  real  estate,  find  mutual  friends  who  work  in  these  domains,   find  someone  who  has  done  transition  into  real  estate  from  another  domain,  etc.