Took voluntary redundancy and think I screwed my career :(

[redundancyregrets]

Name changed as possibly a bit outing

I think I might have fucked my career by taking voluntary severance just before a big downturn in the job market :(

I took redundancy just over a year ago, happily (15 years in role, dying sector, burnt out, good payout). I spent the year retraining in something completely different that I've loved (MSc in a tech subject). But now I've finished the Masters I'm feeling properly terrified about getting another job. I'm nearly 50. Jobs related to my Masters subject are becoming increasingly hard to get and pay is dropping. I don't have any experience in that area, although loads of 'soft' skills from my previous career. I was on £70k in my previous job, I'd be very very lucky to get a job paying £40k in the new field. I've put in lots of applications, had a couple of interviews (unsuccessful). There are no jobs doing what I used to do (this is not an exaggeration!), so it's not like I can go back to doing that.

I'm panicking. I've eeked out my redundancy and it will run out in 3 months. DH doesn't earn enough to support the family and anyway his income is unreliable (self-employed/ freelance - already working as many hours as he can). I spend every day trawling LinkedIn getting increasingly depressed about not being qualified for jobs that pay half of what I used to earn that all ask for 3+ years of experience and an unrealistic list of essential criteria.

Can anyone tell me any happy stories about successfully navigating a significant career change at this stage in life? This is not where I thought I would be, career-wise, at 50 and I'm feeling so despondent. I was a bit of a 'high flyer' when I was younger and it feels like my career has just petered out :(

Would your dh earn more as an employee? Could he also job search?

What type of jobs are you applying for? you said your Masters was in a tech area, if it was a niche area and you're getting interviews thats positive. If it was something like java programming and you're applying for jobs that need 3 years of experience then you'll be up against a large amount of candidates who do have the relative experience.

Two comments for some balance for you
If you had stayed in old job you might have burnt out further and still lost your job?
Can you try for temporary roles in the new sector?

I understand you want to be anonymous but can you tell us what type of tech masters as it matters to the advice?
For instance:
Cyber
Development
Data science
Tech innovation/strategy

I’m surprised that you feel the salary is capped at £40k but would need specifics to really know.

Could you start your own business?

Have you applied for benefits?

I also think that you should change from looking for THE job and start looking for A job. Basically anything that brings the money in.

Is linked in the best place to look for work ? Have you tried speaking to recruitment agencies?
Could you send your CV out speculatively

Is there an area where your old career and new training meet where your particular background would be extra valuable?

That's not possible with what he does. It's hard to explain without being outing, but it's very specific to one sector and only something that you can do freelance.

It's a relatively generic 'role' (think 'software engineer' but not that!). One interview was for a specific role, which I was put forward for by someone who was intrigued by my 'unconventional' CV. The job went to someone who had direct experience. The other interview was for a kind of placement type thing (but quite high level). I got to the final stage (interview), but didn't get it because my technical knowledge wasn't strong enough.

Even the temporary roles require a lot of experience. More in fact - temp roles are basically contractors where someone is coming in to work on a specific project or to fill a specific skills gap, so they need to hit the ground running

No on benefits (not sure I'd qualify? I have no idea - I've never claimed benefits in my life!)

Yes, on any job. But I think I also need to make sure it's at least pointing me in the right direction. I'm not 'above' working in a restaurant or shop, but I'm better off taking a super junior role in the new sector. But I genuinely don't think anyone would employ me - I mean, they're not going to want a 50-year old who's already been round the block when they can get a malleable and keen 20-something, surely?

Data science

The latter is what I was hoping to do. But they're two quite diverse sectors and I'm struggling to find a bridge between them. But ideally I want to leverage my previous experience and very extensive soft skills with my new tech skills.

Anyway - thank you for all the suggestions. I know I sound super-negative and I'm trying to reframe my attitude. But I genuinely cannot find a single job ad in the new area, or even a bridge to it, that doesn't require relevant experience.

For data science you need experience to get a job. Which in your situation means you need to build a portfolio, do some internships, get involved in hackathons and/or competitions and network like crazy.

Edit: And yes it’s HUGELY competitive. My dept includes a fairly big team of data scientists and even the interns we get have some experience already. More managerial roles tend to mean PhDs as well as vast experience.

Do you use Linkedin? My dh was made redundant 3 years ago at the age of 59 and truly thought his career was over. He too was burnt out. He updated his linkedin saying he was open to work, feeling very pessimistic, but had a number of people contact him which led to a new role which he is loving.

Also, it's not that I think salaries are capped at 40k (they're not) - it's the job ads I'm looking at are all in that area. I was/am fully prepared to take a job cut to career change, but even the 40k jobs (so just over half what I earned before) require a raft of experience and massive tech stack. Entry level jobs don't seem to exist anymore (due to AI) and they pay less than I can afford to drop down to. And in an case I have applied for e.g. entry level data analyst jobs but I think I look both over- and under-qualified for them (years of experience, but in the wrong thing).

Yes, it's LinkedIn that's making me want to cry!

For Data Science roles you are going to need the experience, as it sounds like with the level you want to start at, you will be up against candidates with experience in the industry.

I work in the tech sector and with the current climate and work that needs to be done, I am looking for solid experience over qualifications, as I need people useful immediately.

Ok, thanks - this is a useful perspective. And confirming what I already know. I just feel like it's futile at my age to try to 'break in' when I'm competing against people much younger than me with more experience and whose faces 'fit' the DS profile more than mine...

I'm sorry you are in this situation, I really do sympathise.

Yup - I totally get that.

I didn't actually start the MSc with the intention of trying to career change (but instead to use the new skills to pivot the type of work I was doing before). But I've really loved it (and done well) and I had some encouragement (from a mentor and a recruiter) that made me think that the bigger career change might be viable. But maybe I'm kidding myself :(

And thank you @HelpMeGetThrough and @HundredMilesAnHour for your perspectives - this is really useful to confirm my fears!

I have recruited lots of people and always wanted a balance. An older "junior" who brings lots of experience can be hugely useful. Fresh from university graduates are full of new knowledge and malleable, but older people bring different perspectives and ideas.

Look at the Entitled to website to see if you qualify for benefits. Even if it's not paying you then the fact that you have lodged a claim will mean that your NI contributions are made.

Just keep plugging away. I got a new job aged 56 in a technical office role.