MSEJ April 2016 - Page 8

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Career Transition: Are you financially prepared?

Q: I’m getting ready to get out of the military. How long will it take to find a new job? When can I apply for jobs and what can I do right now?

Good luck to you as you begin a new phase in your professional life. It’s likely the military has given you a wide variety of skills and abilities to take to your new employer. In today’s market, the skills gained in service are highly valued. If you are just getting started take a deep breath and say out loud…”Hope for the best…Plan for the worst!”

Most career sites explain that the average job search will take 3 to 6 months, which is true on average, but is not an entirely accurate reflection when you add additional factors like salary, industry, location, and regulations, which often lengthen the hiring process.

The Washington Post and Time - Money provide the following average number of days from the time a job is posted until the employer HIRES someone (notice I didn’t say start date, which will vary based on the onboarding process):

Federal Jobs: 105 Days

Vice President/Director: 76 days

C Level Jobs (Sr. Management, Executives): 71 days

Healthcare: 65 days

Administrative Assistants and Career Entry Positions: 53 days

Retail and Hospitality: 36 days

These numbers often do not include the time it takes to find the right job and how long you have to wait to start—for which I would recommend adding another three to four months to your job search.

This potential time without work also means time without an INCOME, so you should be FINANCIALLY prepared to search for a job for 9-12 months. Read on to learn what financial preparation looks like.

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By Amy Rossi

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