Schwab MoneyWise ®

Changing Jobs

Take control of your finances when you change jobs

These days, a job change may be inevitable. And while the job change may or may not be a matter of choice, how you handle it can have a significant impact on your financial well-being. Choosing a job can be one of the most important financial decisions you make. So it pays to be as informed as possible when searching for new employment.

Things to consider before you start job hunting

Whether you’re joining a company or starting your own business, financial and personal circumstances often change when you go from one job to another. Take these steps to lay the groundwork for a job transition:

  • Review your financial goals. Setting financial goals and evaluating their cost will help you determine how much money you need to earn.
  • Evaluate your professional objectives. Think about what you really want to do. Are your skills suitable? Will they transfer from one job to another? Talk to people who are already in the job or career you’re considering to get a realistic idea of the work environment and skills required.
  • Enhance your network. A good network of people is a career enhancement tool. Keep it up to date, and don’t hesitate to use it when you start to look for a job.

A seven-step plan for changing jobs

When you change jobs or careers, financial issues can get complicated. With a plan in hand, you can work more effectively toward your goals. Here are seven steps that can help you move ahead.

What if you lose your job?

When your job is in jeopardy or you’ve already lost a job, it’s difficult to think clearly. These steps can help you maintain focus and take action immediately.


The information on this website is for educational purposes only. It is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner, or investment manager.

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