Complete list of Career articles

Why target-based bonuses encourage cheating, and how to motivate instead
Performance bonuses are often said to be a necessary evil. They are necessary to motivate and reward outstanding performance. But they can be evil as they can encourage cheating. Warren Buffett once wrote: "Managers that always promise to 'make the numbers' will at some point be tempted to make up the ...

Money lessons from art class
I didn't learn how to draw, or paint, or mold clay. I slightly improved artistically, if at all. But I still feel I learned a lot from my eighth grade art class. It all started with the first assignment. We were to create an art portfolio case from construction paper. The ...

The 4 most important resume tips
How many resumes do you need? How long should your resume be? What should you write about? How often should you update your resume? These are just a few of the issues involved when writing a resume. Even though there are many experts offering opinions, it is hard to find trusted ...

Why you can trust a woman with an MBA
My newlywed friend is applying for an MBA. She and I were discussing her application and general factors, like lost salary and tuition cost. But then the conversation shifted towards strategy. How would the MBA affect her employability in a game theory sense? We came up with a few ideas, and ...

Reflecting on Labor Day – Rich Man’s Burden
image by quapan This Labor day holiday, I am taking it easy and relaxing. And I truly appreciate the break. For in America, enjoying time off is the exception rather than the rule. And peculiarly, it is the rich who bear the burden the most. The more we earn, the ...

The best job in the world
Do you wish you had a better job? It's easy to dream about better jobs. It's easy to dream about jobs that pay more, are more glamorous, and offer more power. I remember feeling this way during my first job. So what would be the best job in the world? Perhaps it is ...

Pay cuts or job layoffs—which one is better?
My friend's company sustained substantial losses during this year. The rumor is the company wants to cut costs, either through pay cuts or job layoffs. Which option is better? Apparently the company is unsure about what to do, and it is contemplating a few options, including the following: --Survey employees to see ...

Cover letter tips
What's the best way to write a cover letter? You can read books on formatting. You can read articles giving inane advice like "use the active voice." Or you can simply go with what works. For my money's worth, I like to follow a winner. That is why I was happy to ...

How to work for a jerk: 4 tips
Every job seems to have it: the jerk boss. The boss who is stupid, or nosy, or pushy, or worse. At my first job, I thought I could just ignore the jerk boss, or perhaps escape him by finding a better job. No such luck. At each new job, I would ...

How happy are you with your job?
A year ago my friend was disappointed that his annual bonus was "only" 20 percent. This year, he's happily taking his 5 percent annual bonus--it really could have been worse! It's strange how a recession puts things into perspective. Here's a funny graph a friend sent me on that very topic ...

Why I would gladly pay millions for disability insurance…
...if I were a star professional athlete, that is. Okay, so the title is a bit of a stretch and dream. But I wanted to make a point that too often we complain about the cost of insurance without considering the benefits. Yes, paying millions for insurance would be expensive, but ...

The Russian roulette puzzle
Can probability theory save your life? Perhaps not in usual circumstances, but it sure would help if you found yourself playing a game of Russian roulette. Today's article covers a couple of variations on the Russian roulette puzzle, which is occasionally asked as an interview brain teaser. Puzzle 1: Single bullet I received ...

Why cooking at home is smart
During this time off from the blog, I have had much time to reflect on some of my favorite articles. Here is one from the July 2008 email newsletter that I found relevant--hope it finds you well! (sign up for the free Mind Your Decisions email newsletter at phplist) image by ...

Game theory and salary transparency
In 1994, shock jock Howard Stern created a public storm and ran for the governor of New York. His campaign was regarded as a publicity stunt, but some worried his radio popularity would convert into votes and make a mockery of American politics. Luckily, the fears never materialized. Stern dropped ...

What kind of pay raise should I ask for?
While most companies are cutting benefits in this economy, there are a few that are expanding. "Jim" is preparing for his annual review and wants to know how to negotiate his pay raise. Jim works in a medium size company that consults to law firms. He's performed very well this ...

Die Broke: A Radical Four-Part Financial Plan
Conventional money wisdom focuses on saving. If you earn more, limit expenses, and plan properly, you'll be able to save enough for retirement and still have something to pass along to the kids. This is the philosophy on which most advisers operate. But there is just one problem-the conventional wisdom ...

Manage your career like a professional athlete: 4 strategic lessons from LeBron James’ free agency
[Update: Title and text edited to reflect a new idea that hit me unexpectedly] The old rules at work have been rewritten. Company loyalty is vanishing and competition has never been tougher. New rules call for a revised way of thinking, and Stephen M. Pollan and Mark Levine in Die Broke ...

How to negotiate at your job using game theory
My underpaid friend used every trick during salary negotiations to no avail. This year she got the raise she deserved. The trick that finally worked was getting sick. My friend joked the company would only realize her value after she left. By chance, it happened much sooner. My friend became very ...

Game theory and racism: the Schelling Segregation Model
[update: welcome readers from The Club for Growth] Fidel Castro says America is "profoundly racist." What do you think? His statement made me think about segregation. I thought about racially divided neighborhoods in big cities. I thought about the "racial cliques" I observed among peers at Stanford. I thought about how few ...

News flash: We workers want to feel useful, not just appreciated
My friend received a promotion, a raise, and a big fat bonus, but in the end, he still chose to leave the company. His departure offended some older executives who asked questions like “Doesn’t this kid realize how good he has it?” The truth is that my friend did appreciate ...

Business Drinking and the Dollar Auction Game
Business drinking provides a fun subject for strategic thinking. My friend told me about a telling experience on a business trip. He had visited a bar after a long day only to find members from a competitor company show up as well. The competition greeted him politely and offered to ...

How Do You Deal with Money Jealousy?
My friend liked his $3,000 bonus until he learned someone else got $7,000. His resentment illustrates a common issue: adversity is often not a question of "why me?" but rather of "why not me?" Jealousy is the culprit and we could all enjoy life more by ignoring it. Jealousy is a ...

Job Interviews: You don’t have to be Perfect
During interview season, many of us frugal people magically become spendaholics. Nevertheless, we maintain we are still rational because the end goal of a higher-paying job can justify virtually any purchase. In college, my friend spent $10 for high-quality resume paper. I myself managed to shell out $25 for a ...

3 Activities Where It’s Best to Take Your Time
"Life moves pretty fast. If you don't stop and look around once in a while you could miss it." —Ferris Bueller "You can microwave a Pop-Tart. That just blew me away that you could do that. How long does it take to toast a Pop-Tart? A minute and a half if ...

The Financially Responsible Way to Deal with Anger
How do you treat people that make you angry? I used to let it out verbally, often raising my voice at incompetent customer support agents. And when I won, I would brag about it. My behavior, though rude, was admired and accepted. Financial people and winners are supposed to get angry ...

The Real Cost of Late Night Work
A thought-provoking poster from timeday.org: [for a full-size pdf, click here or on the picture] For more on how we push ourselves to work too long: Pondering the American work ethic How sports illustrate the American work ethic

Why You Want Your Employees to Second-Guess You
It’s annoying when someone questions your authority. Naturally, you might want to remind them you’re the boss with a threat or punishment. After all, that’s what people did to you. As a kid, your parents withheld allowance. As a student, your teachers assigned detention. And when you were an employee, ...

My “Secret” to Feeling like a Million Bucks
Update: This article is an editor's pick in the 162nd Carnival of Personal Finance at Taking Charge Some highlights of my "secret:" It costs nothing. Most of us can do it naturally. We willingly ignore it to our own detriment. Though when we occasionally do it, we feel like a million bucks. My "secret" is something ...

Why Patience Pays Off in Negotiations
photo credit: MShades via flickr A family caught my attention in a restaurant. A young kid was keeping his parents busy. He demanded an appetizer because the main course took too long. He then passed time playing video games on his cell phone. Soon he became bored again, so he took ...

Smart People Simplify, Simplify, Simplify
photo from Exfordy Today’s advice: don’t get too busy. It’s foolish to cut back on something as pleasurable or healthful as sleep. It’s equally misguided to pack the hours in your waking life. The happiest people I know live very simple lives. Some of them don’t use email, if you can believe ...

No Regrets? It’s Possible If You Think About Risks, Not Results
source: andy_c via flickr Earlier this week my car was low on gas, and I pulled into the first station I could find. I filled up the tank, thinking prices would be on the rise. The next day I received an unpleasant surprise. Gas prices dropped about ten cents per gallon. I ...

10 Things about the Working World I Wish I Knew in College
Let’s face it—each new stage in life brings dramatic changes that are difficult to anticipate. No matter how smart you can be in college, you will still get surprised by the working world. I faced these surprises myself. I thought the working world would be hard since it lacked the freedom ...

What is the Best Time to Go to Work?
source: Rich Moffitt via flickr Bob Slydell: You see, what we're actually trying to do here is, we're trying to get a feel for how people spend their day at work... so, if you would, would you walk us through a typical day, for you? Peter Gibbons: Yeah. Bob Slydell: Great. Peter Gibbons: Well, ...

Take Fewer, Not More Risks with Your Money
image source: szlea via flickr Financial people often tell you to take more risks, especially when you’re young. Why is that, and is the advice any good? The usual reasons I hear to take risks early are (1) you can’t do it later (2) it’s easier to recover from failure. But by ...

Why You Might Want to Burn Bridges
Image source: peasap via flickr Forget the advice “never burn bridges.” There are many times that burning a bridge is not just beneficial, but absolutely necessary to accomplish a goal. "Never burn bridges" generally means don't leave a job or relationship on bad terms recklessly. While I agree with this particular ...

What’s More Important than Your Career? The Answer is Right Under Your Nose
Image source: Jason D' Great via flickr People do a lot of things for their career, perhaps because they are told it’s their most important asset. At Stanford, I once met someone who was simultaneously studying for finals, preparing for a business trip to Japan, and drafting a book. But some things ...

How to Deal with Bad Service—Be Reasonably Unreasonable
Being reasonable doesn’t work “And how will you be paying today?” the pizza cashier asked me. I hesitated before I answered. I was being asked to pay full price, even though the store caused a 30 minute delay by burning my original order. I didn’t exactly have time to spare because ...

Fast and Frugal Late Night Snacks
The consulting grind encouraged my night owl tendencies. When I retired to my quarters, I found myself snacking on delicious and fattening restaurant leftovers. I was new to the job, but I quickly understood the saying “fat consultant.” While I still work late at night, I’ve drastically improved my ...

The Dice Brain Teaser: A Technical Interview Question that Can Help You Solve Problems Better
Today’s puzzle is special. I like it even more than previous brain teasers I’ve discussed, like the monk problem and the hat puzzle. Like the others, this is a technical question sometimes asked during job interviews (hat tip: Reasonable Deviations). But unlike the others, this problem serves as an introduction to some ...

Thinking about the 401(k) Account: Should I Have One? How Much Should I Contribute? What are the Risks? Trying to Interpret the Experts
Planning for retirement raises a number of difficult questions. I'll admit that I often get confused coming up with answers. And I'm an economics graduate who started investing in high school and enjoys reading financial articles. I have sympathy for anyone that feels overwhelmed or confused by the ...

Three Ways to Protect Your Email Privacy Using Low-Tech Encryption (Caesar Cipher, Vigenère Cipher, Three-Pass Protocol)
Emails worry me I wrote half as many emails the day after meeting the company legal staff. I learned that emails are often discoverable in court, and it was rumored company email was being scanned. This whole episode annoyed me, because as a consultant, I enjoyed the convenience of email. But I ...

Why Rich isn’t Rich; Proposing an Alternate Definition
The rich are rich because they focus on the long-term acquisition of assets... assets such as stocks, bonds, businesses and income producing real estate. Many times the rich will forsake meals, a steady pay check, a vacation, or the comfort of a nice home, to build or acquire real assets. —Robert ...

Want to Win? Try Relaxing
My previous boss told me I was among the best consultants he’d ever worked with. This came as a bit of a surprise to me. I wasn’t the smartest person he worked with, nor was I the hardest working, nor was I the most efficient. But I had one competitive advantage in ...

How Sports Illustrate the American Work Ethic
“We are the champions No time for losers 'Cause we are the champions - of the world” –Queen, song lyrics What do Michael Jordan, Tiger Woods, and Randy Johnson have in common? There is the obvious answer: they are all champions. They all won championships and dominated their respective sports. But that’s only ...

When I Choose to Outsource My Chores (Hint: It is Rare)
Outsourcing is not just a business concept. It’s a life philosophy. Divide, delegate, and conquer. This attitude is why working professionals think about hiring help for cooking and cleaning or even for scheduling medical appointments. After all, why would do something yourself when you can get someone to do it for you? ...

The Hat Puzzle (A Consulting or Engineering Interview Brain Teaser)
The Hat Puzzle is one of my favorites. This is one of those brain teasers people might ask in an interview for a consulting or engineering job. Here is the problem, as worded by Sara Robinson (this is a good article to read): Three players enter a room and a red or ...

Pondering the American Work Ethic
My article on saving more or earning more has ignited an interesting conversation on the Brazen Careerist website. One commenter interprets my advice as encouraging slackers and worries about the future of America's work ethic. It's hard to argue because (1) I sort of agree and (2) the commenter tells me ...

Save More or Earn More?
Should you save more or earn more? This is a frequent money question. It’s also a misguided one. When I hear this question, I say I want both. I need to earn more so that I can enjoy higher quality products. But for a given income level, I need to save more ...

Build Trust at Work
The lesson of today: don’t speak behind other people's back. It’s stupid to write bad things in an email because text has permanence and manages to get forwarded around. But it’s even bad form when you're casually joking around with a friend. Stephen R. Covey, author of 7 Habits of Highly ...

The Calculating Guru: Time is More Valuable than You Think
I hate waiting for a table at restaurants. If a place has more than a 15 minute wait, I try to find another place. This limitation means I never go to the Cheesecake Factory on a busy night. Oh well, I think I can live without it. Some of my friends ...

The Tragedy of the Commons: Working During Holidays and Why Thanksgiving Almost Didn’t Happen
I will never work during the Christmas holidays again. Not after what happened last year. I was looking forward to the end of the year. A big deadline had passed, and my expected workload involved quantitative modeling, which was both manageable and enjoyable (this is nerdy stuff that I really like). ...

Understand Counteroffers Through Game Theory and Three Questions
Mahesh asks a great decision problem: I am working at a firm. I get an offer from another firm. I declare my intention to leave. I get a counter offer with very little tangibles and a lot of promises. The promises look enticing. Should I take or leave? How does this ...

The Easy Answer
A couple months ago, I met with a friend who completed a masters program from a prestigious university. He was looking for jobs, but things were taking longer than expected. After his first few interviews, he realized that he was not at all interested in jobs related to his major. ...

The real meaning of wealth has to do with goals
What do you think about when you hear the word wealth? Really, think about it for a moment and write down a couple things that come to mind. Ok, so I bet most of you conjured up images like Donald Trump, a mansion from MTV Cribs, or Scrooge McDuck swimming in ...

Where did you get your financial education?
The answer to that question may soon be school. I was thrilled to read that more schools are starting to offer personal finance classes. Recently John Hopkins decided to include an introductory class for the following reason: [Graduates] were handling the job fine but they weren't prepared to make decisions about ...

The strategy of limiting options: why less can be more
source: antanask via flickr Consider the following situation: John and Tim are both finishing projects at a consulting company and they are ready to be staffed on new projects. Their skill-sets and work ethics are similar, and both are considered team-players. Though they are comparable employees, their projects have been very ...

A job you hate can be a paid learning opportunity in disguise
This article is cross-posted at Employee Evolution I used to fear calling random people on the phone. It was so bad that I didn’t like calling for delivery pizza. It did not affect too much of my daily life until my first summer job where I had to call vendors about ...

Can you stop a jerk without becoming one yourself?
In the discussion that followed my book reaction to The No Asshole Rule, one reader commented that he was implementing a personal "no asshole policy" to remove jerks from his life. I fully support the move, but I have an unresolved question: is it possible to remove assholes from your ...

Book reaction to The No Asshole Rule
I’ve always felt being friendly gives results than being a jerk. On that note, I enjoyed reading Robert Sutton’s book The No Asshole Rule, which argues that businesses can be more successful if they avoid hiring assholes. Sutton defines assholes in the first chapter as people who (1) make a target ...

Why buying on credit online may make sense: my experience buying business cards
Recently I received business cards from an online purchase. After checking the quality and looking for misprints, I was satisfied with the cards. But being a paranoid, I wondered if I got all 500 cards I ordered: I mean, if they sent fewer cards as standard practice, what sane business ...