With the current economic conditions and some of the highest levels of unemployment in recent history, it is no wonder that many people are unable to find work in their chosen profession. Sometimes no matter how hard you try there just isn’t any work available in a particular field, and if there is there are plenty of people that have more qualifications and experience than you do who will ultimately get the job ahead of you.
So when do you pull the plug on your job search and just take whatever you can get so you can continue to pay the bills and put food on the table?
This is a question that I feel lots of people in Australia will soon be questioning. With the economy moving from bad to worse it is a no brainer that unemployment will rise. I’m not convinced that we will see 50% youth unemployment like what is happening in Greece and Spain, but higher unemployment is definitely on the way and with it will come some tough decisions for people used to having a particular job at a particular wage.
I had always thought that you should have at least 3 months of emergency savings to draw down on in case of an emergency or job loss. Using this theory I would expect to start searching for a new job immediately and to hopefully be getting interview requests within 2-3 weeks. The problem would be if I was continually unsuccessful in the interviews, or worse – I never even made it to the interview stage. You could probably keep doing this for about 2 months before you really started to get worried about where your income was going to come from once your savings ran out.
Based on the 3 month plan I think it would be prudent to start looking for any type of work (whether it is in your field or not) at around the 2 month mark. This gives you about 3-4 weeks to land a job before the money runs out and you have to start auctioning off your spare kidney. The way I see it is that so long as you are bringing in some sort of an income then you can probably make do until you can find yourself a job that is more fitting of someone with your level of qualifications.
What do you think? How long would you wait before taking a job outside of your desired field?