Should you switch jobs? - A quantitative decisioning framework
A friend recently reached out to me and sought my advice about a new job offer he had received. Good, reputable firm, decent hike in compensation, same role but elevated title. The role required him to move from Bangalore to Mumbai, but the company was ready to pay for the relocation expenses. The only caveat was that they wanted a confirmation from my friend by the end of the day. No stress, should have been quite a no-brainer to take this job. Or was it? While making decisions, especially when we are restricted by time and with too many unknowns thrown in front of us, we instinctively turn to bounded rationality for aid. Bounded Rationality is the idea that our decision making is limited by the information we have, the cognitive limitations of our minds, and the finite amount of time we have. We also let our cognitive biases influence our decisioning. The new employer can try to anchor our decision by offering a higher title or by offering a higher compensation 'as per ind