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Deal or no Deal part 3

 
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#0 Deal or no Deal part 3
 
Freddy
05.01.7 00:00
 
Money, prestige or the pursuit of happiness?I have three offers I am contemplating:1) A role with the private equity division of an investment bank ( long hours - 90+, but no travel and very high salary)2) MBBB offer - medium salary. Less hours but incredible travel3) Strategy division of a big 5. Good salary, more predictable hours and very little travel. I specialise in corporate strategy ( business development ) - I have 5 years experience and the type of work is surpirsingly similar between all three options. I am in front of a choice of prestige, money and lifestyle. And im really really stuck! Pleae help!Thank youM
 
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#0 RE: Deal or no Deal part 3
 
Tim
05.01.7 00:00
 
Money, prestige or the pursuit of happiness? ...I think the answer is fairly obvious dont you?Out of interest,whats your backround.It must be very impressive.
 
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#0 RE: RE: Deal or no Deal part 3
 
Freddy
05.01.7 00:00
 
Sorry, no the answer is not fairly obvious - otherwise I wouldn't have asked the question. As buggs bunny would say, im in a real pickle. If you could give me your opinion I would appreciate it very much. I dont see my background as being particulary 'impressive' at all. I have had a good education (not Oxbridge), healthy travel and experiences and a two languages. Nothing special im afraid!Any thoughts? What would you go for, honestly
 
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#0 RE: RE: RE: Deal or no Deal part 3
 
Freddy
05.01.7 00:00
 
ha! never type whilst on the phone. please excuse my horrible grammer above. poor form, poor form.
 
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#0 RE: RE: RE: RE: Deal or no Deal part 3
 
Spaz
05.01.7 00:00
 
Not sure what you expect from this board.Are we expected to understand your personal priorities?If you are young single and money hungry then choose the cash, if older with kids choose less travel and shorter hours.....whatever.If I told you to pursue money...would that change your choice?.....what if I told you to prioritise travel or prestige? It's your decision.You must have had tougher questions than this in your various interviews...figure it out.Spaz
 
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#0 RE: RE: RE: RE: RE: Deal or no Deal part 3
 
Mr T
06.01.7 00:00
 
Freddy, I am a relative newcomer to this world, so I apologise if what I say now rings utterly stupid, just my 5 cents:First: think for how long would you stay at your work (given that you land there and everything is as expected): 3 yrs? 5yrs? 10 yrs? You should bear into mind what kind of motivation would you have to stay for those years. Maybe 1) would be money, maybe 2)travelThen I would layout in a 24 hr day plan all the leisurely activities that I would ideally do in a typical daily routine, say, spend time with the partner or kids, sports, reading, whatever. Book a time slot for each activity. Rate those activities from less to most important. Calculate for your 3 jobs the wage/hour ratio.I would then say, "Ok, this work will take so many hours from me, I am going to start crossing out enjoyable activities and slotting in work hours." At some point decreasing marginal returns will set in. For additional work hours an increased sacrifice will be needed. At some point you might say "ok, the deal's not worth it". This is the easy part, because time is quantifiable. Based on the wage/hour ratio you might find it ok to sacrifice such long hours for a good wage provided its for 3 yrs, but not for 10 yrs (since that deal would involve too much sacrifice for an additional amount of money which you don't really need)Now, try to factor in travel. Its difficult to model that, because travel destinations and schedules are unpredictable.Basically, what I have done is a sort of matrix factoring in hourly wage, the marginal increase in sacrifice per additional hour, plus 3 different scenarios based on how long would you stick with the job.Finally, when you are done with the analysis and have more or less made a decision, go to bed, sleep it through, rethink i next morning and make a final decision with your partner.Thats what I would do. Hope it helps, at least a bit.
 
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#0 RE: Deal or no Deal part 3
 
Random acts of language
07.01.7 00:00
 
FreddyI think Tim makes a reasonable point, you know you're situation, motivations etc and must have discussed these during the interview process. If you've got to this stage and don't know where you want to go then I'm not sure what you'll get from here.You're also comparing apples with oranges, which direction do you want, IB or Consulting? It's less the work now but where it allows you to go, although there is crossover opportunity.Personally, I've done quite enough 18 hour days for months at a time and you couldn't pay me enough to go back to it. Mind you, that wasn't in an office environment, but it is that simple for me.Beyond that it's what you want to do. M3B may be more useful on your CV or as a stepping stone to other things. How does the travel issue stand up against that?
 
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#0 RE: RE: Deal or no Deal part 3
 
Freddy
10.01.7 00:00
 
Any more opinions? All i can say is that the M3B option is good - i am scared however of being 'left' 3 months in Dubai, then 3 in Canada, then 3 in Brazil... to come back and find out my son has already gone to college ( he is 4 now)THe IB / PE option is serious: they are the only serious player that does both ( hint hint they are Australian) and provides the same level of intellectual stimulation as the M3B. The salary however is much higher ( 60%) and has potential to grow tremendously. The job, i repeat, is very very similar as both roles involve private equity strategy.Anyone else been in this situation that can help?
 
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