WE MAKE CAREER MOVES BASED ON EVER-INCREASING SUNK COSTS.
As any micro-economist will tell you, there is no surer path to bad outcomes than incorporating retrospective expenses that cannot be recovered into your decision-making. But as the cost of accreditation rises, the temptation to use our degrees and certificates to land highpaying (but ultimately dissatisfying) jobs has never been greater. The more credentials you have, the worse the problem gets. One interviewee remarked: “I’ve done a bachelor’s degree in accounting, a master’s in accounting and a certificate of public accounting. I can’t just leave accounting.” Another said: “I think of my degree first as a cash-generating device.” By force-fitting your past education into your current vocation, you’re incorrectly counting sunk costs and might be closing doors to exciting professional paths as a result.
If any of these traps sound familiar, you
Daniel Gulati is a tech entrepreneur based in New York. He is co-author of the book Passion & Purpose: Stories from the Best and Brightest Young Business Leaders ‘and a contributor to Harvard Business Review’s Guide to Getting the Right Job.
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