The decision to switch careers is not one that’s made lightly, but it’s a growing trend across Asia Pacific. Monster Philippines set out to discover exactly why people are leaving their industries to transition into new ones through the #IMadetheSwitch survey, which gathered data from respondents in Malaysia, Singapore and the Philippines. And the results are in.
Reasons for Making the Switch
Despite the fact that switching careers is seen as a bold move that requires courage, 88% of respondents in the Philippines said they would consider switching to an industry outside of their field of expertise in order to find “the best job” for them.
That said, there is still trepidation surrounding the prospect of jumping into an unfamiliar sector: 63% of Filipino professionals said they were concerned about switching career paths, even though 87% of them said they already have the skills to do so.
The biggest motivator for those Filipinos looking to pursue a new industry is financial – 54% of those looking to switch careers cited the opportunity to make more money as their biggest reasoning for considering the change. Meanwhile, 23% said the lack of growth in their current field is why they’re looking to make a change.
How Experience Factors In
The #IMadeTheSwitch survey found that the reasons why people are looking to switch careers change with the number of years of work experience respondents had.
While 66% of young professionals said their reasoning was the realisation they need to widen their skill set, 58% of mid-career respondents cited the desire for a better salary – an unsurprising statistic considering 43% are the sole earner for their families – and 48% said they are underpaid.
As for those with 15+ years of experience, 89% said they plan to switch career paths immediately or in the near future, with 38% saying this was because they are seeking work that is more purposeful and challenging.
Looking to the Future
For those 88% of respondents open to swapping industries, the most attractive new sectors to join were travel and tourism, education, and banking and financial services. Considering the boom these fields are experiencing in the Philippines, it’s an opportune time to join them if you’re ready to make the switch!