say you have 2 years relevant equity research experience and now you have to choose one of the two following options. what doors open and what doors close because of your choice and what criteria goes into your choice. 1) Corporate Development for RIM (or for you americans, Apple) where you will be part of a small team responsible for all acquisitions, joint venutres, and licensing agreements. 3 weeks vacation and on average 50 hour weeks; the job comes with a firm interested in career development 2) equity research for a large bank (think BB) helping ramp up coverage in the alternative energy sector. 80 hour weeks for the first year then moving towards a more normal 60 hour weeks. compensation would be higher by about the bonus only (so an extra $30k or so for an extra 30 hours a week); no career develpment per say and probably 2 weeks vacation but not like you can take it.
I didn’t ask what you’d chose farley - i asked what doors open and close based on your choice and what criteria you used to arrive at your decision.
1 sounds a lot more interesting, and fun. I would do it in a heartbeat if I were you. But take 2 if you want to impress the Farley’s of the world.
Frame-dependence bias – I think you would have to rephrase the question such that you weren’t trying to bias the readers into defending #1 and shunning #2. The way you described both jobs made it sound like you are leaning towards the investor relations job but wanted people to convince you to take it so you made it sound a lot more attractive than the research job on purpose. I would suggest producing equal numbers of positives and negatives for each for better comparison. BTW, is job #2 with a Canadian or US bank?
- is not investor relations, farley. read more carefully before you type.
Canadian bank so i think the securitiy of either job in terms of the firm is the same (i.e. neither is going to be going on a firing binge soon or filing for bankruptcy)… the upside of #2 is its in a hot sector that isn’t going away (i mean, alternative energy, heck, even the governments are supporting that) and the compensation would be quite high. However, you work 15-16 hour days for it for at least a year.
Assuming your career goal is to make as much money as possible and assuming that besides playing third base for the Yankees the most lucrative jobs are at hedge funds, I think both could lead you down the same path eventually, except that #2 would probably get you there faster than #1. If that’s not your goal then I need more information.
Farley - awesome analysis. I purposly didn’t provide my goals becuase I wanted to see how people went about looking at this situation. I am hoping to gain a different ‘problem solving’ perspective. so you just gave me that what is my goals and make as much money as possible perspective. For me personally now, i have to answer those myself and see wherein they lie.