Reflections
The Peak of Prosperity
During the peak of my career, I had a gut feeling that I was working in a market bubble. My colleagues, and frankly, everyone in my professional network, were living high on the hog. Lavish corporate parties were the norm, expense accounts were practically unlimited when working with major accounts, and the general atmosphere was one of unbridled optimism. Job opportunities were plentiful and compensation was generous. Headhunters barged into my inbox weekly. Our industry was innovating, both in technology and in service and consulting approaches. We were riding a big, big wave, and anyone with any sense understood the wave wouldn’t last forever.
Riding Inertia
When our ranks started swelling with enormous numbers of career hoppers claiming “years” of experience in our trade, my suspicion of a bubble were confirmed. Thought leaders popped up like mushrooms after a good rain, all largely saying the same thing, and innovation stalled. The murmurs that executives weren’t seeing benefits commensurate with the cost of our goods and services grew to a dull roar. Even if market weakness was on the horizon, I wasn’t ready to cut out from the herd to try something different. Like others in my network, I was quite comfortable riding the big wave. Even if it long ago stopped being exciting, the big wave was paying the bills and I saw no point in cutting my ride short.
The Bubble Bursts
And then it happened. My LinkedIn feed turned into a dismal swamp of increasing unemployment in my field. Vendors consolidated over and over again. Some corporate teams folded entirely, laying off the entire lot. Hiring in my trade screeched to a halt. Independent consultants, once flush with high-paying gigs, were pinging their networks trying to scrape up work.
My Solution
Don’t Wallow in Others’ Despair
For starters, I abstained from LinkedIn for close to a year so that the negativity didn’t become contagious. I saw the wave crashing and understood that we were at the messy stage where a few of us were still riding in the foam, washing safely up on the beach. But a lot of people in my network were pretty banged up from the crash, and many were incredulous that it happened. The bitterness, denial and negativity were too much and I saw nothing constructive from participating in the pity party.
Gently Help Others See The Light
Once I reengaged with my network, I tried to balance being empathetic with conveying a realistic approach to our job market. I know a lot of my network was frustrated and hurt, not to mention running out of money, so I needed to be gentle with them. Still, I’m not going to just hug them and tell them it will be alright, because for many of them, it won’t. The good times are over for good in our industry, and many of the folks impacted are a bit long in the tooth to restart in a new career with similar compensation. I gently try to steer them toward proactively trying something completely fresh and different. It beats waiting for the next wave that isn’t coming.
Focus My Energy On What’s Next
Finally, I’ve clarified in my own heart and mind that I’m effectively done with full-time work in my career field. Once my current role goes away, I will still engage in sustaining work as most of our funds are tied up in retirement vehicles we can’t access for several more years. I may work part-time in my industry or I may work in another industry new to me, but I’m done with full-time, highly demanding career work. I need to focus on building the “what’s next” for Briarhopper Ranch, that dream that Mike and I so carefully crafted in our Trello board and financial spreadsheets. This is where we’ll invest our energies going forward.
___________________________________
You’ve got to know when to hold ’em
Know when to fold ’em
Know when to walk away
And know when to run
– The Gambler, by Don Schlitz (as performed by Kenny Rogers)
————————————
Your Key Takeaways
Coming to Grips with Change
The realization, whether sudden or gradual, that your career job market has crashed hits like a punch to the gut. All the years of training, the specialized skills you diligently honed, and the established pathways that once seemed so secure now appear to lead nowhere. It’s a disorienting shift, leaving you grappling with a potent mix of fear, frustration, and uncertainty about what comes next. The once-clear trajectory of your professional life has evaporated, replaced by a dense fog of “what now,” forcing a re-evaluation of not just your career, but potentially your entire identity.
Navigating a Career Shift After 50
If you’re over 50 and your career field has disappeared, the timing can feel like a mixed blessing. Regardless of your personal circumstances, this situation offers a rare chance to pivot your career. Opportunities like this don’t come around often. It’s time to let go of what was. While a strong financial situation and a modest lifestyle certainly make this transition easier, the core message remains the same: accept that the good times for that specific career are over, and it’s time to move on. Don’t spend too long trying to rebuild something that no longer exists. Instead, be proactive in building what’s next for you. This shift will likely feel uncomfortable. It could mean a temporary pay cut, and it’s probably not where you expected to be in your fifth decade. But here we are. It’s crucial to recognize when it’s truly over and time to walk away. Embrace this next phase with enthusiasm and dive headfirst into the new chapter of your professional journey.