Personal PEST Analysis

Personal SWOT Analysis looks at the factors within you – and the ones close to
you – that can influence your success. By contrast, PEST Analysis digs deeper
into the “big picture” external factors that will either help or hinder your career
success. Using it makes the difference between choosing an exciting career that’s
aligned with the forces of change in the world, and struggling for survival in a
dying industry.
PEST is an acronym for the Political, Economic, Socio-cultural, and
Technological environments in which you function. To complete a Personal
PEST Analysis, you first identify the external factors that can influence your
career. Then, you analyze each of these to identify the opportunities and
threats that they present.

Political Factors
Here, you consider the influence that the government and its policies may have on
the opportunities you’re looking at. Consider these questions:
• What new laws or regulations are likely to affect these?
• Are you aware of any policies or schemes that will boost or support any
of these?
• Will any of these policies affect your ability to work in a specific area, make
a certain amount of money, or be reasonably secure?
• Is there a change in government, or a change in policy, expected?
• What opportunities and threats do these changes or events represent?

Economic Factors
Next, you look at economic factors that may influence your decision to pursue a
particular goal. Think about the following:
• What are the average compensation levels in the careers or industries that
you’re interested in?
• Are wages expected to rise, fall or stay the same?
• Can you meet your economic needs based on the expected remuneration?
• What is the current and forecast rate of employment or unemployment in
these sectors?
• What is the long-term demand for people in these careers?
• What opportunities and threats do these changes or circumstances present?

Socio-Cultural Factors
These are the societal trends that influence how attractive a particular opportunity
may or may not be. Things to consider include:
• What demographic trends will have an impact on these opportunities?
• Are the educational requirements for them expected to change?
• Are there lifestyle trends and changes that will have an impact on the
desirability of these careers?
• Are there familial expectations you have to consider when making a career
decision? How will these affect your ability to be successful?
• What opportunities and threats do these situations represent?

Technological Factors
Finally, you need to look at the technological factors that affect your career
decisions. Technology moves forward quickly, and you don’t want to get left
behind because you failed to consider its potential impact. More than this, you can
expect great new opportunities if you can get good experience of a valuable new
technology. Ask yourself these questions:
• What technological trends affect the careers you’re considering?
• Are there aspects of these jobs that are likely to be automated or digitized
in the next few years?
• What technologies are emerging to do this, and how can you get
experience of using them?
• How is technology influencing the type of work you do, or the way you
complete your tasks?
• What opportunities and threats do these situations present?