Competition arenas … we all choose the arena to compete in. It’s a choice, either implicit choice or explicit choice. I would say better to conscious about this choice.
Not much new content in this blogpost. I feel very convinced to stick with WallSt contract market. Here is a ranking of the reasons why I consider it a rational decision, though our decisions are shaped by our deeply personal experiences and inherently irrational.
Beware of attachment !
- low stress, low expectation — my #1 reason as of 2019
- no annual appraisal. See explicit^ambiguous feedback{mgr #pollen
- no bonus dread. See contractor: no bonus-dread #hindsight
- no ownership stress. Never expected to work overtime
- low-caliber competitors, mostly due to the “off–putting“
- age friendly
- I get to practice interviews and keep a precious burning-pleasure for a month each year on average.
- In contrast, If I were an ibank VP I would have multiple obstacles on that front.
- — other reasons to prefer Wall St contract
- higher probability of greenfield projects
- leverage on domain knowledge
- I can easily explain my job hopping profile
- a number of firms to hop around
Now the downside, off-putting factors. Many bright or young competitors are put off, reducing the competition
- salary can drop; furlough
- frequent job change required — often forced to change job.
- no job security — Employers tend to cut contractors first.
- no compensation package
- no growth, no bonus
- no chance to move off hands-on dev and become prj mgr etc
- no medical benefits
- restricted to mostly ibanks — many young bright people are interested in buy-side or non-finance.
