Reality of market value for people in 40s and 50s: most people find themselves replaceable, their market value drops and difficult to switch career. Thoughts/comments?
Work for yourself in 40s/50s . You create the market.
Kids? Parents? Lifestyle?
How do you think about hustle - traditional wisdom says 20s/30s is best time. I’m not sure I agree with that entirely.
It is objectively the best time to experiment when below 30s. Little risk, high reward.
Can't take risks when married with kids and aging parents.
Doesnt you reach to CXO levels by then now? Even your experience must have much value by that time.
How come so? Really interested to know
How many CXOs vs non-CXOs do you see around? Pyramid at top is 1%. Politics and competition means 99% wont be there.
Fast changing technology is a threat to experience in terms of hard skills.
Soft skills and leadership yes - thats where the silver lining is.
@Rhyderrr Agree.
Positives with age:
Team management, client management & problem solving will get you into senior positions with responsibility. Some specifics will change with domain but these are valued across industries.
Other careers: Domain expertise (eg Equity research)
But, past 30y has been a period of higher supply I labour markets due to demographics, women entering workforce, China factor etc. Some economists like Manoj Pradhan ex-Morgan Stanley predict that these will reverse and lead to higher demand vs declining supply in labour. We are seeing this happen in France, Russia, Italy where they are increasing the retirement age.
If that prediction comes to be true in India, you might be switching careers easier than the current 40-50yo
We have the 40/40 problem. Of you are above 40 yrs or earning above 40lpa. It is very dificult to change jobs. If you havent reached top management role, the career is more or less over.
By 50 years old, one must have ideally created a reasonable corpus. There is no other way. Cheap labour will take over as we progress, stands true even for below age 40. I realised it when I was 3 years experienced and was always vary about career progression after age 40.
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