Mid 50's Finance Professional - career over

[GhostStress]

Just a rant really.

When i started my career everyone said you'd have a career for life. Sadly if you are a woman you become worthless when you hit your 50's.

I still have loads to give and love my job. It just seems hopeless. Would be fine if I was a man as every new job announcement on LinkedIn is male.

Would try to pivot but just seems such a waste if my skills and years of study. Sigh.

… how can a job announcement on LinkedIn be male?

Op, you are about to be bombarded by women in their 50s who do not feel worthless (including me). Loads of experience, loads to give, I am cracking on, I agree the job market sucks right now and can really bring you down, but you seem to have a job, so what has happened to make you feel like this?

I’m in the HE sector-lots of professionals (legal/financial) come to us in their 50’s from the private sector which seems to be more ageist.
It doesn’t pay as well obviously but it is worth looking at a sector shift potentially?

Unfortunately you become what you think.

Finance is one of those fields where years of experience is beneficial.

Your mindset is killing you.

I think she means that whenever she sees an announcement on Linkedin about starting a new job in her field, it is from a man.

When you say finance professional do you mean you are an accountant or something else?

When I moved to my current job I was 55. This brought me a 50% pay increase and much improved Ts & Cs. Admitedly I was pretty badly undervalued in my previous role.

I'm an accountant but being older than Methuselah's mother I have acquired some niche skills and experiences over the years.

Have you had someone review your CV. Fashions change and you may not be positioning some skills and experience in the right way.

It’s really hard. I work for a wealth management company and my friends in the same industry who have been made redundant are finding it almost impossible to get interviews, let alone jobs. The only ones who have found roles are those who have taken a significant drop in both salary and level.

It’s a very tough job market and a really hard industry for women

This could be the time to work for yourself. use your expertise in accountancy or investing or whatever, to create bespoke short term contracts for smaller firms or private clients. You get to set the hours, the fees. Hard work at the start but if you are good, clients stay loyal.

What kind of finance professional are you OP? I got a separation agreement from my old company when I was 50 and it was desperately frustrating but I also realise that my situation was not about my sex

The market is appalling at the moment and it isn’t going to get better. I am working but I am also qualifying in an additional field (AI governance) to give me some more strings in my bow. Develop yourself on a continual level, adapt your mindset and be strong. It’s awful. I know it is. But we can only meet the situation head on or fall by the wayside.

There is no such thing, or ever has been a true ‘job for life’ regardless of age/sex. Who would even want to do the same thing for their entire (working) life.

The job market is extremely challenging regardless of age/sex/sector at the moment…and LinkedIn, like Facebook only tells you what others want to to hear.

You’re in danger of a self fulfilling prophecy…I assume you are looking for work currently?

I really don't want to work for myself. I really enjoy working in a team.

Been out of work now for 5 months. Only 2 interviews in that time. My niche type of industry has been depressed for the past couple of years due to lack of funding.

I am open to interim but tied to an hours commute due to school location which is not helping. I've also dropped my salary expectations but that is not helping either.

The job market is brutal. Last teams call 2 days ago with an employer who said 'I guess the market is not kind to people like you at the moment' and I actually thought I looked young for me age!

Will chat gpt my cv again to try and refine it further.

Trying to keep positive but just feel on the scrap heap at the mo.

OP, are you able to share a little more without being outing? Are you in a City financial services career or someone with a financial role in a different sector?

I'm City and I've always worked on the assumption that roles might dry up post 50. Currently 52 and doing OK, but we are only ever one re-org away from the door.

I'm an Head of Finance with expertise in R&D industries.

I've been doing CPD in power BI and also workday but exploring AI and changes company governance could be a good shout as I have a interest in these areas.

I just think men are more likely to promote their news on LI than women. It's a tough market for men and women out there. I hope you find something soon.

Yeah, I've seen a lot of "so excited to be joining XYZ" posts recently where I know the role the person previously had and the new role is a big step down.

Hopefully as a finance professional you are well set up with pension and investments to ride this period out.

Its easy to feel down, but turn it around, talk yourself up and promote yourself ‘like a man’ would.

It’s definitely a good time to upskill and get something AI related on your CV.

Can you move into another sector?

Update your LinkedIn profile so as to be as polished as possible (this won't get you a job by itself, but recruiters obviously check your page)

Register with every accountancy recruitment agency possible.
Have several versions of your CV - for different specialism/areas of focus - and match these to the specialisms of the agency concerned.

Also consider branching out into operations (Finance at a very senior level can also encompass "Support services" like IT, governance, insurance, facilities, health & safety and sometimes HR).

If you're professionally qualified, can you attend networking events run by whoever you qualified with? Also network on LinkedIn - commenting wisely on posts, giving professional insights - but not the sort of "FB-like posts" where you "agonise" over sharing a photo of a potted plant or whatever.

I agree that the job market is brutal, though - the market is very static at the moment.

@GhostStress when you say you are doing some CPD on Workday, do you mean Adaptive? Just a small thought but most finance people I know who use it always refer to it as Adaptive not Workday. Just a thought for your CV!

I agree with you OP, but I think it’s hard for everyone and both men and women. I am actually more worried about the young generation not able to to get onto the ladder as a lot of starter jobs are going either offshore or AI. Operations jobs have been offshored for decades already and we are now sleep walking into an AI nightmare.

I am over 50, work in banking in a role which will soon be taken by AI. I can’t see myself getting another job at my age sadly and I am just saving as much as I can at the moment for the time comes.

I have chopped a whole degree (I have 2) off my CV and also some work experience to appear younger on my CV. I also do everything I can to look as young as possible. Others might come in and say that is sad, but you do what you have to do to keep working…..