Is there anybody? From what I've heard and read, if I'm laid off i'm royally screwed. Finding a job will either be impossible due to my age or the pay will be (at best) half of what I'm making now.
Is there anybody out there who will actually be willing to hire an older employee and pay him or her according to their actual worth - meaning taking into consideration their knowledge and experience?
You have to mentally prepared for a rough ride .... Don't kid yourself, age discrimination exists every where these days. Even if you are fully qualified for a position, the employer would prefer a much less qualified and younger applicant because you will not "fit in" with the company's culture. I have personally encountered this situation many times, especially with some of the startups.
Also, be prepared to accept a significant cut of your current salary. If you've been with SAP for a good number of years, your based salary + bonus + other perks should be pretty good. Don't be too shock if you have to take a 30% or more cut - that's how it is out in the real world. Unless you can score yourself a contractor gig and you can ask for a decent hourly rate. BTW, don't forget that there is a 2-year restriction at SAP once you are laid off (you cannot come back as a FTE or contractor). If you have the right skills, working for a partner is another option.
Some folks have the luxury of getting more education and training which is great but many folks don't - they have to get a job immediately to pay for their mortgage and support the family now. If you are currently still employed, get yourself organized and prepare an exit plan - you will need one.
I wish everyone that is in the same boat best of luck!! Stay positive, watch your health and take good care of yourself.
If you are over 55, it’s going to be hard to move on, yet…
Try to work with headhunters, not ideal and a lot of shady things in this space but if you find a good one go with her/him... I work for a competitor and I just hired a guy in his early 60s. A good headhunter will help you adjust your resume and may pitch you to companies/gigs that are more open to hiring folks closer to retirement. I have a hard time placing older folks in growth roles as it often takes many years to develop resources, yet there are many roles that do not require growth and extensive training and you may be a match...
I am in my mid 40s and have been managing people for a while now - 55+ folks are more reliable, less expensive, less choosy/picky and in general much easier to manage - so do not assume that you are in a difficult situation due to your age in all situations. Where I sometimes see challenges has to do with lack of technical skills and lack of energy - if you are decent in those two areas in you are in good shape, #gold, something somewhere will click.
Good luck!
You make your own destiny. If you sit there feeling sorry for yourself and act like a washed up dinosaur then employers will see you that way. I am in the same position and that is not going to happen to me. I am reskilling, studying for a Masters and embracing the new ways of thinking. You have to face that your old life is gone , it ain't coming back . Do not try to recreate what you had before, reinvent yourself.
Yes. I got a raise when I left IBM at 60. I also get more respect at a company that rewards actual performance instead of the „kiss up, kick down“ type middle managers.
"hire an [...] employee and pay him or her according to their actual worth"
You may have a tremendous amount of experience, still you worth exactly such amount of salary, which is equivalent with the amount a company gives you.
Of course it could be less or more than your salary at SAP. The Job Market will tell your worth, not your previous position.
These are legitimate concerns for any age but particularly for 50+ year olds. There is a short-term solution to become an advisor and get paid to share your business professional experience especially if you were in a senior level role at any Fortune 1000 company! The company is called, Emissary.
They are a NYC based and Google ventured backed company that has built a marketplace for recent business leaders who have been laid-off, retired or looking for paid short-term advisory work to share their valuable insights, business knowledge acquired.
Please go to https://emissary.io/become-an-emissary/
What are you making now?
You can try to go in as an independent contractor and could earn nearly close to your previous salary.
If you want to start a small business there are more opportunities to succeed.
"If You’re Over 50, Chances Are the Decision to Leave a Job Won’t be Yours"
https://www.propublica.org/article/older-workers-united-states-pushed-out-of-work-forced-retirement
Some SAP customers might value experience & expertise and might be looking for such talents