Industry
Do your overall career plans call for you to "make it" in the industry in which you are presently working, or must you make a change? Generally, it is easier to get a job in the industry in which you were most recently employed, even during a recession, because any industry always needs good people, even if that industry is in a recessionary mode, or maybe especially then. Your job is to communicate your outstanding qualifications better than your competitors. If you make an industry change during a recession, you will frequently find that much of your competition has moved with you. Unless you have prior experience in the industry or are currently employed in it, you will not have a real advantage over the competition. The same, of course, holds true even if there is no recession.
Those of your competitors seeking positions in the same industry that are already working in it have the advantage.
What if your career plans give you no choice? You have decided that you need experience in another industry in order to progress, or other factors have led you to the decision to make a career outside of the industry in which you are presently employed regardless of the increased difficulty in getting a job. Then your campaign must be organized to stress your functional accomplishments, and industry should be deemphasized. You should define exactly what industry you are going after and you should learn everything about that industry that you possibly can. If you have the time to take courses before beginning your campaign, by all means take them. Successful completion will provide additional support for an industry switch. Read all the books you can and pick up the buzzwords. Talk with friends or former classmates who are currently working in the industry. You can change industries successfully if you plan the change carefully and allow yourself additional time for your campaign.
Company
It's easier to get a position with the same type and size of company as the one you are presently working for. However, changing the type of company is easier than changing industry. Any prior experience in the type of company you are seeking will make your path much smoother, provided you use the techniques. So if you are now with a small company and have at one time been with a much larger one (or vice versa), you will probably have little trouble getting back in. If you have not had prior experience, your task will be a little more difficult.
In all your communications with potential employers, you should stress both the similarity of work and the similarity of positions. You should accentuate the positive, withholding information about major company differences until the interview. Before the interview you are not obligated to reveal any information about present or past employers that does not support your case. One way of doing this (and I will explain in more detail later) is simply to omit the company name from information you supply before an interview. Use descriptive terms such as "a prestigious consulting company," "a well-known finance company," "an important aerospace firm" or "one of America's leading pharmaceuticals houses." If you are asked over the telephone for names, say that for security reasons you prefer to withhold this information until mutual interest has been established. Once that interest has been established, you will almost always be required to give detailed background data.
Function
Even if you have had prior experience, you should give a great deal of thought before attempting a change function. It is one of the most difficult career changes to pull off, because it raises serious questions in the mind of your PE. Why are you changing? If you have the experience and talent in the function you are seeking, why doesn't your present employer give you an opportunity in that area?
If you decide to change functions, you should marshal every accomplishment and experience in your background for support. You must also be prepared to explain why you want to change. Obviously answers such as "I thought I'd give it a try" or "I want to get experience in more than one functional area so that I can break into general management" will kill any chance you may have had. So you must spend extra time preparing for the interview to make sure you have an argument that will be acceptable to your PE.