Many older job seekers may have to ‘settle’ for less than what they had before
No one likes to admit it. This is especially true for older job seekers. But will you be able to match your previous situation – in terms of responsibility, position and money – especially money? Probably not.
The reasons are many and varied. Some may be classified as age discrimination and some may not. “We can’t afford to pay you what you were earning before.” “We can only afford to pay you (some number, maybe 70 percent) of what you were earning on your last job.” “We’re concerned that you may want to retire in a few years.” “After your last job, we’re afraid that you won’t find this position sufficiently challenging.”
And that’s just the beginning
Of course, everyone would like to be earning as much as before, if not more. The reality is, however, for job seekers over 50 that may not be the case. So what’s it going to be?
You need to determine early on in your job search what you would be willing to settle for if it ever becomes available. It could be a lesser job or less money. No matter what, you should know that up front and be willing to act accordingly. And there is no right or wrong answer, it's totally dependent on you and your situation and/or circumstances.
Also, try to determine how any or all of that will change over time. You might be able to afford to pass on something early on in your job search, but what if you're in month six, or month eight, or month 12 - how will those time frames affect your "settle for."
Many experts advise to not jump at the first thing that comes along. That’s good advice. On the other hand, you really do need to make up your mind – up front – as to what you’re comfortably willing to settle for.
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