Suppose that you’re a finance major and upon graduation you want a job, preferably as a personal financial planner, with a minimum salary of Rs 1,50,000 and within a hundred miles of your hometown. You accept a job offer as a business credit analyst—not exactly a personal financial planner but still in the finance field—at a bank 50 miles from home at a starting salary of Rs 1,20,000. If you had done a more comprehensive job search, you would have discovered a job in personal financial planning at a trust company only 25 miles from your hometown and starting at a salary of Rs 1,60,000. Were you a perfectly rational decision maker in this case? Why or why not? Explain
Suppose that you’re a finance major and upon graduation you want a job, preferably as a personal financial planner, with a minimum salary of Rs 1,50,000 and within a hundred miles of your hometown. You accept a job offer as a business credit analyst—not exactly a personal financial planner but still in the finance field—at a bank 50 miles from home at a starting salary of Rs 1,20,000. If you had done a more comprehensive job search, you would have discovered a job in personal financial planning at a trust company only 25 miles from your hometown and starting at a salary of Rs 1,60,000. Were you a perfectly rational decision maker in this case? Why or why not? Explain
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Suppose that you’re a finance major and upon graduation you want a job, preferably as a personal financial planner, with a minimum salary of Rs 1,50,000 and within a hundred miles of your hometown. You accept a job offer as a business credit analyst—not exactly a personal financial planner but still in the finance field—at a bank 50 miles from home at a starting salary of Rs 1,20,000. If you had done a more comprehensive job search, you would have discovered a job in personal financial planning at a trust company only 25 miles from your hometown and starting at a salary of Rs 1,60,000.
Were you a perfectly rational decision maker in this case? Why or why not? Explain.
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