Should I reskill or upskill to advance my career?

As technology advances, though, professionals in the tech sector are required to continuously develop their skills to remain competitive. For them, reskilling and upskilling should be top of mind.

But there’s also general confusion over the differences between upskilling and reskilling. If you’re looking to accelerate your career, you might wonder whether it makes more sense to reskill, upskill, or a combination of the two.

This article will help clear up some of the confusion over these distinct concepts. Below, we'll cover:

Let’s dive in.

To reskill, a professional generally must develop new capabilities and specialised knowledge outside their existing skill set.

Reskillers come from all ages, specialisms, and industries. But unlike upskillers, reskillers aim to switch careers entirely.

For example, let’s say you've worked in sales and business development for five years. You’ve developed skills related to this career path, such as those based on customer-facing communications and outreach.

You recently learned, though, that the average data analyst salary is higher than your current pay. To become a data analyst, you’d need to develop a new core skill set. So, you retrain through a technical programme outside of working hours and switch from a sales specialist to a junior data analyst.

Upskilling is when a professional improves or develops the core job skills or abilities related to their existing career path.

Upskillers come from all ages and industries. But they share a desire to progress in their current field or industry to propel career growth, rather than switch careers entirely.

To illustrate an example: Let’s say you've been a generalist Software Engineer for three years. You enjoy the work, but you'd like to specialise in cyber security, as that skill set is in demand. You upskill and progress from Software Engineer to Cyber Security Engineer.

It’s natural for working adults to question whether it makes greater sense to reskill or upskill to advance their careers.

Both upskilling and reskilling offer unique opportunities and benefits to professionals (more on this below). But to answer the question of which is right for you, it’s best to start from your unique, long-term goals and work backwards.

Here are some questions to ask:

While a simplification, the above questions can be a useful starting point for further exploration. But before we go any further, let’s examine some of the benefits of upskilling or reskilling for your career.

Workforce training benefits more than just HR Managers and business owners. Here are six ways reskilling or upskilling can also help you as an employee.

Data shows that upskilling or reskilling can lead to new job responsibilities, career advancement, and potentially higher earnings. In fact, 69% of apprentices who completed one of our upskilling programs have gained new job responsibilities, while 75% of employees who participated in upskilling have experienced career advancement. Additionally, over 5% of those who upskilled have seen an increase in average earnings compared to those who didn't.

While you're looking to progress in your current role or start a new career path, upskilling or reskilling is a solid business case for achieving your goals. You can learn the abilities needed for new and potentially more complex tasks in your existing role by upskilling. On the other hand, reskilling can provide you with the skills needed to start a new career with more responsibilities and higher earning potential.

OpenAI released a demo of ChatGPT(opens new window) in late 2022. By early 2023, demand for new professions, like Prompt Engineers, had emerged. A full 69% of business leaders predict AI will create more demand for professionals with this specialism.

AI has shown us how quickly tech advances can change the way we work. Now is the time to learn the skills of the future and bring innovative approaches to your role. Doing so will increase your job security in the present, and it will also give you the new skills you need to adapt to future tech changes in the workplace.

You don't need a new degree-level qualification to advance your career. For some careers, it helps. But there are other factors to consider.

Putting your career on pause to attend university is expensive and a significant time commitment. There's also no guarantee of a job after graduation. The pace of technological change, especially in the tech industry, means new graduates often emerge from university with skills gaps.

Fortunately, you have options. Multiverse offers learners the ability to earn a degree qualification through an upskilling programme without leaving your current role. You'll also earn a nationally recognised certification while working on real projects, meaning no career breaks or learning endless theory.

Check out our programme options for more information.

More and more businesses see the value of employees investing time into their skills. One study showed that 93% of CEOs(opens new window) introducing advanced upskilling programmes see increased workforce productivity and fewer skills gaps or mismatches. A further 94% see greater innovation and accelerated digital transformation. Additionally, 95% see better employee engagement. But when your employer upskills or reskills the workforce, what does that mean for you as an employee?

Whether you're at the start of or mid-way through your career, evolving your skills will help you solve advanced problems. Plus, when your employer invests in you, you feel more valued and engaged. Being empowered to solve problems and feeling more engaged at work makes you more productive. You'll also be less likely to switch jobs(opens new window), which is an indicator of greater job satisfaction.

Regardless of your position on the work-from-home debate(opens new window), fully remote or hybrid working opportunities may bring better work-life balance. Still, that all depends on your preferences or commitments.

Some professionals prefer a clear separation of work and home, in which case an in-office role might be best. Others may prefer the option to eliminate the office commute so they can spend that time with their families.

In either case, learning in-demand tech skills lets you choose your preferred workplace setup. That's especially true of remote work, as many tech professionals can do their work from anywhere.

Experts predict that 85% of all job roles(opens new window) in 2030 have yet to be invented. Even as we speak, 90% of workers(opens new window) see the need to update their skills annually at a minimum.

So, if you want to thrive, rather than survive, in the future of work, now is the time to learn transformational skills.

With your new skills, you'll gain confidence in your abilities. That confidence will put you in the driver's seat of your career and help you meet current and future workforce demands. You'll also have the knowledge to effectively lobby for new tools, processes, and workflows that bring actual business results.

Now you know why you should upskill or reskill, here are three ways to get started.

Platforms like Coursera offer flexibility and the ability to use any professional development budget you have through work. Still, you might have to pay for them if your employer doesn't offer professional development. You may also have to dedicate time outside work to learning the course content. There could also be no support from industry experts or any actionable job-ready skills.

Full-time and part-time boot camps give you the chance to upskill and reskill. If your employer offers a professional development budget, you could use this to pay for the boot camp. But even if your employer funds it, you still have to invest time—aka, use your own time outside of work to study. If you go full-time, you'll have to put your career on pause for course outcomes that might not suit your goals.

Like online courses and boot camps, on-the-job upskilling programmes can allow you to upskill in the areas needed to advance your career. But unlike online classes and boot camps, you don't need to quit your job, self-fund the programme, or spend personal time completing the course.

With a Multiverse programme, you can upskill on the job for free. There's also a focus on applied learning so you won't be stuck in a classroom reading endless theories. You'll get paid to learn and use your new abilities in your day-to-day role.

We tailor our programmes to give you durable and future skills, setting you up for success beyond the present. Plus, you'll learn from experienced professionals who have been where you are.

Fill out our quick application(opens new window) to get started today Our team can then double-check your eligibility and discuss apprenticeship options with you — including how to upskill with your current employer.