The Hard Truth About Career Stability in Hollywood

Since we launched Hollywood Resumes a decade ago, so many of our clients have come to us asking for one thing: more stable employment. For a long time, this meant freelancers who had hopped from production to production asking us for help transitioning to a career with that elusive gold mine: benefits. Steady pay, health insurance, time off, a break from always hustling. In more recent years, we’ve been hearing from people with in-house jobs who are thinking about pivoting to a more stable side of the industry or a more stable industry altogether, where layoffs aren’t always around the corner.

The truth is – and trust us, we hate saying this – there is very little true stability at the moment in the majority of industries. You can read your preferred news source for hot takes on why this is the case, but regardless of the why, things are shifting across the board. Shifting = instability. That hopefully won’t last forever, but it’s the moment we are in right now. There is no magic stability wand you can wave to make sure you land in a role that won’t get restructured, in an industry that won’t shift its priorities, in a company that won’t go through a merger (or change its healthcare benefits provider, or shift its remote work policy, or, or, or…). Even working for yourself comes with lots of unpredictability.

Because of this, overall stability is the wrong thing to look for when you’re thinking about your next role. Instead, break down what specific elements of stability matter to you and what instability you are willing to live with and do a cost-benefit analysis of the paths and roles you’re considering. Ask yourself questions about three core areas of wealth: financial wealth, time wealth, and health wealth.

Financial wealth is the most obvious thing we think about in terms of career success and a good job. But be honest with yourself about what your monetary needs are, and make sure to include anyone else who depends on your income in your decision-making. Ask:

• What income do I need to live the lifestyle I will be comfortable with right now? 

• Do I want to maintain my lifestyle, upgrade my lifestyle, or am I ok living more frugally, at least for now?

• Where does money/salary fall on my list of priorities for my next role – is it the most important, or is there something more important? 

• What would I sacrifice in exchange for more money, and what would I sacrifice more money for?

Time wealth is the next one to consider. Work/life balance plays a big part in this thought process, but you also want to think about how you’re spending your time. You can’t get time back, so what you devote yours to is incredibly important. Ask:

• Am I okay with a commute, or do I need more free time in my day?

• How important is flexibility to me, and how much flexibility do I really need right now?

• Do I want more freedom by owning my own time, or is it more freeing to have structure?

• What are the things that bring me joy? Are these things I can incorporate into my work, or do I want time to keep them separate?

• What kind of work feels like time well spent, and what work leaves me feeling drained?

Health wealth is the trickiest one. This can encompass physical and mental health and may extend to members of your family who need your support for their health. Because health insurance is baked into employment and sickness is a thing that impacts work, the boundaries between work and health are blurry. Ask:

• What level of control do I need over my healthcare (insurance and sick time)?

• What kind of safety net do I need from my job for my health or the health of a loved one?

• What kind of work environment negatively or positively impacts my health?

• How do time and/or money factor into my health goals (e.g. insurance, medical procedures/disability/family planning, wellness/fitness, diet)?

In an ideal world, you will have all the money you could dream of, absolute control over how you spend your time, and perfect health. But in the real world, where stability is not impossible but also not omnipresent, you’ll have to make hard choices. By answering these questions honestly for yourself, you’ll be able to zero in on what’s most important for you to feel as stable as possible in this moment. Then, you can build your job search around those things that matter. That’s where you’ll find success.

We can coach you through this decision-making process and help you stay focused on your priorities once you start searching for jobs. Book a free 15-minute call here to learn more about working with us.