How to be the conductor of your own career orchestra

What is a portfolio career?

Whether driven by the desire for autonomy, better work-life balance, or continued engagement post-retirement, the portfolio career offers a flexible, strategic alternative to a single full-time job.

A portfolio career is one where you combine several types of work to create a full professional life. This could include non-executive director (NED) roles, consulting, part-time employment, interim assignments, public appointments, board memberships, teaching, writing, mentoring or running a business.

The appeal is clear: freedom, variety, and the ability to align work with your strengths and values. But success depends on more than just leaving a traditional job behind. It requires clarity, structure and a long-term mindset.

Why more people are choosing portfolio careers

Recent research from the Institute of Leadership and Management (2022) shows that over 60% of senior professionals are actively considering or pursuing portfolio work. Factors driving this shift include:

• Autonomy and flexibility: Greater control over time and commitments

• Alignment with purpose: Opportunities to focus on meaningful work

• Risk mitigation: Diversification of income sources

• Extended career lifespan: Particularly appealing to professionals aged 50+

In her influential work, Working Identity (2003), Professor Herminia Ibarra of London Business School highlights that career transitions among experienced professionals are rarely linear. Instead, they involve “test and learn” cycles—trying new roles, gathering feedback, and refining direction.

Key components of a successful portfolio career

Clarity of purpose and positioning

Successful portfolio professionals know what they stand for. They have a clear personal brand, underpinned by their expertise, values and long-term goals. This makes it easier to attract aligned opportunities.

Strategic networking

According to research by Ibarra & Hunter (2007), developing new networks is essential when shifting professional identity. Portfolio careers thrive on personal reputation and relationships, so deliberate effort to cultivate connections is key.

Multiple, aligned workstreams

A well-designed portfolio offers balance: a mix of revenue-generating work, influence roles (e.g. NEDs), and personal projects. According to the RSA (Royal Society for Arts, Manufactures and Commerce), effective portfolios are planned, not piecemeal.

How to get started: Practical steps

Step 1: Audit your skills and interests

Use tools like Strengths Profile or feedback from trusted colleagues to identify where you add most value—and where you enjoy working most.

Step 2: Define your offer

Create a clear value proposition for each audience—be it boards, clients, mentees or employers. Focus on outcomes, not just activities.

Step 3: Start small and build gradually

Pilot roles (e.g. a pro bono board position or a short consulting assignment) give you learning opportunities and credibility without needing to commit full time immediately.

Step 4: Sort the practicalities

Consider insurance, tax status, contracts, scheduling and business development routines. Professional advice and administrative tools (e.g. an accountant or CRM system) can help.

Evidence-based benefits of portfolio work

Studies have found that portfolio careers can enhance wellbeing and job satisfaction. A 2020 CIPD study found that professionals in portfolio roles often report higher autonomy and meaning in their work.

In addition, a report by PwC (2021) highlighted that over 40% of experienced professionals working in portfolio roles felt more energised and engaged than they had in traditional careers.

Challenges to watch for

• Income variability: Particularly in early stages

• Isolation: Without the built-in social structures of employment

• Role overload: Managing multiple commitments can be complex

Building in reflection, boundaries and self-care is crucial for long-term success.

Conclusion: A career model for the future

Portfolio careers offer a compelling alternative for UK leaders seeking meaningful, flexible and impactful work beyond the traditional 9–5. Done well, they allow you to combine depth and breadth, legacy and learning, profit and purpose.

References

• Ibarra, H. (2003). Working Identity: Unconventional strategies for reinventing your career. Harvard Business Press.

• Ibarra, H. & Hunter, M. (2007). How leaders create and use networks. Harvard Business Review.

• CIPD (2020). Good Work Index 2020: Survey Report.

• PwC UK (2021). Workforce of the Future: The Portfolio Professional.

• Institute of Leadership and Management (2022). Leading through uncertainty.

• RSA (2020). The Multiple Careers Revolution.