One of my clients who have worked in one of the top banks in Nigeria for over 3 years currently on the 2nd level with a 2.2 in Business Administration and a foreign MBA needed help in order to build a career and climb up the corporate ladder faster. But he couldn’t decide what he really want, even though he has always wanted to build a career in HR while in school but now he’s uncertain.
Making a career decision can be very challenging, especially with the uncertainties in the Nigerian job industry. Here, I’ll be critically analyzing how you can successfully choose between two lucrative careers.
Analyze the Career Industries
As a professional, you should conduct an industry intelligence and market research with the aim of analyzing the industry trends and developments within a 5-year period. This can be done with the help of a corporate or financial analyst in both sectors. Make good use of company or industry reports, when doing your research and analysis. Include the SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. While doing this, consider the developments in each of the industries within the last 5 years, in terms of sales, market share, major deals, investments as well as leading products and services.
Re-evaluate Your Career Goals
Consider your career goals when making a decision as to which career to pursue. If possible, re-evaluate your goals to suit an industry and focus on developing the right skills to help you climb the corporate ladder faster. In addition, re-evaluate your personal SWOT in both career industries. That way, you would be able to know what areas you need to work on either to move up (the corporate ladder) or to move on (to another career).
Make Career Projections
If you have all the information you need about the career industry and your current career goals, focus on making projections of your career progression. Look at where you are now and fit yourself in each career industry and project where you’ll be in the next 5 years. Although you can’t predict the future, but you could know whether you’re likely to advance at one company or the other.
- Is the industry still growing or is it an established, solid industry?
- What are the available opportunities for your personal growth and professional development in these career industries?
- Which career industry has a better promotion policy?
Consider Salary and Benefits
The remuneration package is perhaps the most important factor in choosing a career. So consider the salary and remuneration packages for each career. Depending on your motivation for choosing a career, you can decide which career industry you want to work with. If you have family and relationship obligations, you may want to choose a career that offers you more time and lesser pay.
Consider Your Professional Life/Work Balance
Every professional especially in banks, telecoms, oil industry etc usually have a hectic day at work, making it difficult to balance work life and personal life. Before choosing a career, consider the working conditions and your personal circumstances.
If your work life and personal life are out of balance, your daily stress may be so high that it affects your relationships which may eventually lead to lose of concentration at work. Thus, consider a career that can give you balance between your personal life and your professional work.
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