Are you a career woman who is tired of your current job? Are you eager to make a significant change? While it’s totally doable to take the leap into a whole new life and job, know that it’s important to do thorough financial planning before you take the plunge and change careers. An empowering and beneficial job transition takes careful planning on your part. But if you compare and contrast the financial pros and cons, research the new position, and negotiate terms in your favor, you can enjoy a job that’s even more fulfilling than your last.

Compare Salaries

Salary is the most obvious and necessary aspect of changing jobs and is an unavoidable aspect of negotiations. You’ll have to seriously look at your standard of living and your current budget to assess whether the increase from the job change will have a significant impact on your life and spending abilities. A moderate salary increase can appear lucrative at first, but you’ll have to look at other benefits to make sure you won’t have to divert some of that money to other costs, such as medical care or housing, if you must relocate. Consider how much of your current earnings come from a bonus structure when comparing salaries.

Assess the Benefits

If your current job is no longer satisfying but has good benefits, figure out what you’re willing to compromise on when switching to a new role. The medical care/insurance program offered by the new company should be at least comparable to that of your previous company; otherwise, you’ll have to make up for that loss out of your own pocket. Weigh other benefits such as maternity leave, paid time off, or retirement packages based on your expectations of your future lifestyle. Depending on where you are in life, you might be able to forego some benefits that were previously necessary for you.

Be Strategic When Relocating

Moving to a new place for a job can be exciting, but every location has financial implications. When organizing your budget, think about the real differences in taxes and living expenses affecting your everyday life. It can be exciting to see a salary offer that’s a bit higher than your current job, but that excitement will fade if you end up paying higher taxes and 30% more in housing costs. See if your new employer is willing to help with moving expenses; you may be pleasantly surprised.

Make a Splash With Your Resume

Regardless of how much you’d like to change positions, you’ll need to impress the new employer before you make a big switch. Your resume is a key aspect of this process, so updating it to look as professional as possible is a smart move. Utilize free resume templates online that enable you to change fonts, designs, layouts, and colors freely, so you can create a visually impressive document that highlights your best skills.

Transition Carefully and Confidently

Entering a new career can be an exciting and scary prospect. If you budget correctly and assess the differences in salaries, benefits, taxes, and living costs, and make the right impression with your resume, you can smoothly transition into a new career and live the life you’ve always wanted.

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