Older Workers Find Job Satisfaction in New Careers

Older workers and retirees moving into new lines of work often face fewer benefits, lower pay, and reduced prestige, but according to a new study, they are likely to find greater job satisfaction. The study, conducted by the AARP Public Policy Institute in collaboration with the Urban Institute of Washington, followed over 1,700 workers nationwide for more than a decade to explore the experiences of those who changed careers after the age of 50.

Key Takeaways:

• 91% of the study group reported enjoying their new jobs, a significant increase from 79% who enjoyed their old jobs.
• The study found that reduced stress and flexible work schedules were key factors contributing to the higher job satisfaction among career changers.
• Only 36% of those surveyed reported stressful work conditions in their new job, compared to 65% in their previous job.
• About 45% of career changers had a flexible work schedule in their new job, compared to 27% in their previous job.
• The study showed that workers prioritized reduced stress, with two-thirds of career changers switching occupations and 27% of all workers making changes.
• Mal Krinn, a retired ophthalmologist, left a secure doctor's practice to pursue a career as a breadmaker, citing the desire to turn his hobby into a profession and enjoy a more flexible schedule.

Statistics:

• 91% of career changers enjoyed their new jobs, up from 79% who enjoyed their old jobs.
• 36% of career changers reported stressful work conditions in their new job, down from 65% in their previous job.
• 45% of career changers had a flexible work schedule in their new job, up from 27% in their previous job.
• 27% of all workers made career changes during the study period.
• A median hourly wage in the old job was $16.86, compared to $10.86 in the new job.

Sources:

• AARP Public Policy Institute and the Urban Institute of Washington. (Report title not specified). Date: 2008.
• Reinhard, S. (As cited in the report).