Many Halton Residents are Considering a Career Change
Have you ever thought about changing careers in Halton? If you have, you’re not alone!
According to a recent poll conducted by Edward Jones - a full-service investment dealer with one of the largest branch networks in Canada - the majority of Canadians (54 per cent) have considered a career change in the past twelve months.
However, nearly half (46 per cent) of the poll’s respondents claimed that a lack of finances acts as a barrier towards taking that first step towards a new career.
According to the data, those least likely to feel financially prepared to make a career change include:
- Individuals who are 18-34 (52 per cent) and 35-44 (51 per cent)
- Females are less likely to feel financially ready to make a career change (54 per cent), compared to men (44 per cent)
- Those who earn less than $40K (56 per cent)
“Career changes can mean taking a significant step towards finding personal fulfillment, but it’s a transition that should be thoughtfully planned,” said Patrick French, the principal of solutions-based strategy and tools at Edward Jones. “Taking a career turn without having a solid financial foundation in place could put one’s long-term plans at risk. A trusted financial advisor can help you develop a personalized financial strategy which best positions you to achieve your career goals, while also considering personal and long-term family responsibilities during this life transition.”
For what respondents value most in their careers, respondents selected:
- Work-life balance (26 per cent)
- Security (15 per cent)
- Career fulfillment (13 per cent)
Despite noting financial preparedness as a barrier to making a career transition, only 12 per cent of respondents selected compensation as the element they valued most about their careers.
In the demographic breakdown by Edward Jones, it finds:
- The youngest respondents (18-34 and 35-44) were considerably more likely to contemplate a career change (68 per cent and 58 per cent) and are looking for career fulfillment in their new roles (16 per cent), more so than the other age demographics.
- Those 35-54 and 55+ were the most likely to report that work-life balance was what they valued most about their careers (59 per cent and 28 per cent).
- Autonomy and flexibility were most valued by those aged 55+ (36 per cent) than younger Canadians, aged 18-34 (7 per cent).
The online survey of 1515 Canadians was completed between January 4 and 8, 2019, using Leger’s online panel.
What do you think about this poll’s findings?
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