Guest Contributor

How to Maximize Your Next Career Move Through Risk Assessment

By | Briana Marvell | Senior Content Marketing Specialist

Receiving several job offers and opportunities can be a rewarding feeling, but making the right choice can be challenging. When approached with different options it’s best to do a risk assessment of each opportunity. Below are the steps to take when assessing your risk to maximize your career growth. 

1. Identify Risk

Ask yourself “what could go wrong?” Maybe you just finished your bachelor’s program and you’re juggling between taking the knowledge you have and finding a job or the opportunity to obtain your master’s degree. Identify the risks of each option. 

For example, when going straight into the workforce you may go through several rejections because the recruiters feel you have too little experience. Another risk factor is that you become stagnant in your career because the next level calls for a higher-level degree. If you decide to continue on in school you take the risk of increasing your student loan debt and delaying your start to get into your career field

2. Assess Risk 

Now that you’ve identified the risks that come with each option, you need to assess them. Do this by looking deeper into each risk to consider the potential long-term results of your decision. 

Once you assess your risks you may identify some good opportunities. For example, if you do choose to go back to school and it delays your start in your career field, you could still get an internship or volunteer on campus with something that aligns with your career choice. 

If you choose to go into the workforce after getting your initial degree, your growth doesn’t have to stop there. It’s also a chance to expand your current skill set and network for better opportunities. A lot of times getting a quality job is based on relationships and who you know. 

3. Control Risk 

After identifying the risks and assessing them, try to control them before they can even happen. For example, if you choose the school route, start applying for scholarships to make the cost process easier. To decrease your chances of getting a loan, look for schools that are in-state and that could save you money.  

If you are worried about delaying your career, network while in school so that your job hunt can be as seamless as possible once you obtain that next degree. 

If you choose to get out into your career field, use the internet to your advantage by taking classes and trainings that will help you earn certificates for valuable skills to further grow in your career. To continue to get real-world experience, try freelancing in an area that will support your salary and growth. 

4. Review Controls

Now it’s time to make your choice! Will you head back to school on a budget and come out with better job prospects, or will you begin the job hunt and go straight into the industry to build experience along the way? Weigh the risks and rewards to figure out which decision is best for you. 

For more tips on assessing the risk of your next decision, check out these tips from Annuity


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