Is there such a thing as recession-proof jobs? i.e. a job that will never have pay or bonus cuts? If not, what should those in the recession-hit industry do, other than upgrade or take on part-time and temporary jobs? - Seedly
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Anonymous

Asked on 22 Apr 2020

Is there such a thing as recession-proof jobs? i.e. a job that will never have pay or bonus cuts? If not, what should those in the recession-hit industry do, other than upgrade or take on part-time and temporary jobs?

In recession-hit job - hotel industry. - Sharon Lim

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Micheal
Micheal, Marketing and Management at University of Essex
Level 4. Prodigy
Updated on 01 Jul 2020

I do think there are some recession-proof jobs. Here are some examples.

  • Medical Professionals

  • Mental Health Providers

  • Law Enforcement

  • Internet Professionals

  • Senior Care Providers

  • Pharmacists and Pharmacy Technicians

  • IT Staff

  • Teacher

Besides those recession-proof jobs, there are some companies that are even thriving in this recession such as Fairprice Online, Foodpanda, Grab Food, Zoom, some grocery stores, online shopping platforms such as Amazon and a lot of other examples. If you are working for those companies in whatever major, you will feel safe. There are always some people who are suffering because of the recession and some people who are safe, not to say make even more money than normal.

I don't what exact situation you are facing, so I cannot give you any deep recommendations, but here is a COVID-19 career resource that I found useful for myself and you may too.​​​

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Hi,

I wouldn't go as far as to say 'recession proof', but rather, recession resistant. Many examples have been brought up, including healthcare, defense, education, police force, SCDF, etc.

You can still expect bonus cuts or pay cuts in really bad times, but such jobs are a key pillar of society and will always require manpower.

If you're in a recession hit industry but still have a job, utilize your off-work timing well to learn some skills and upgrade yourself. Brush up your resume and prepare for the worse (which hopefully never comes).

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Oh Yi Ning
Oh Yi Ning
Top Contributor

Top Contributor (Jul)

Level 8. Wizard
Updated on 23 Apr 2020

Hey Anon,

There are jobs whereby you are still considered essential eg. healthcare. But in general (from a sociological POV), everything is all interconnected with one another, especially the economy. When the economy suffers, everyone suffers. Businesses will be affected, livelihoods will be impacted. So there will always be a ripple effect. I think what will be good is to evaluate your current resume portfolio to see what are the areas you can upgrade yourself in. Or find a side hustle ;) Maybe its giving tuition or coming up with your e-business.. Be creative. Crises like this often is breeding ground for opportunities!

For Income Protection and Wealth Growth strategies, follow me at www.facebook.com/AgentKorKor​​​

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Joseph Tan
Joseph Tan
Level 2. Rookie
Answered on 01 Jul 2020

I don't think there are any recession-proof jobs but there are some employees who work for companies that are still running well. Therefore, those employees are safer than other.

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I think some essential jobs will never go out of style. E.g. healthcare/education/social services. But, if you wish to do a career switch to these industries, you need to do some self-assessement and see whether you have transferrable skills to these positions.

It is important to build self-awareness about what you LIKE doing (preferences) and what you are GOOD at (strengths). Then, consider what options you have based on yourself-analysis. It is also good to consider your weaknesses and dislikes as it steers you away from making wrong career changes.

Draft actionable steps that you will be taking to job-hunt or develop your career BEFORE you quit. Your plan can look something like this:

a) Find out what opportunities there are in the market by doing a quick google search/ check on job portals by (date)

b) Match the opportunities to your self-analysis above by (date)

c) Filter out the ones that are not suitable and narrow down your choices to top 3 roles (not jobs) by (date)

d) Read the requirements of the roles of different companies and compile a list of skills/expertise they are looking for by (date)

e) Consider signing up for mid-career training courses and approach a professional to rewrite your resume/ coach interviewing skills for a career switch by (date)​​​

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Angeline Teo
Angeline Teo, Calculator at The Internet
Level 6. Master
Answered on 01 May 2020

Yeah.... death is recession proof.

funeral jobs, or funeral related jobs are usually recession proof.

gov sector jobs are seen as iron bowl, though pay cut is definitely unavoidable, especially for those higher gov positions.

groceries related jobs are probably pretty secured. everyone needs to shop at market and supermarkets....

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Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Updated on 23 Apr 2020

The only certainty is death and taxes, so as flw:

National Taxation agency, Funeral Parlour(s)​​​

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Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Answered on 22 Apr 2020

SAF. U wont see SAF retrench regulars as Singapore birth rate is getting lower, we need as many manpower as possible in the Army. At most if you do not pass IPPT or other requirement, you will not get promotion.

Government job. Iron rice bowl. Getting in is not easy, need to be scholar.

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Gabriel Tham
Gabriel Tham

23 Apr 2020

This is so helpful 👍

There is no foolproof job in the sense such that employees will never suffer a pay cut or miss a bonus.

However, the current situation allows us to differentiate between jobs that are essential vs non-essential. As a result, the former takes lesser impact during a recession.

Use the opportunity to upgrade yourself and to stay relevant. Time is money. By upgrading yourself, you make yourself ready for the next opportunity.

I share quality content on estate planning and financial planning here.

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