THE VALUE OF INFORMATION – CHOOSING A CAREER

9 Mar

In todays blog post I am going to discuss the value of information in choosing a career. I think this topic is very relevant to us students as we have already made the first step in deciding the career we want to pursue. However, they are many more decisions and options that will have to be weighed up in the near future.

5-relaunch-career_options-300x210

As i have previously mentioned in my other blog posts and other group members have also outlined the value of information as: how much answering a question allows a decision-maker to improve its decision.

This is very relevant when it comes to choosing a career path. Many careers have specific requirements that need to met, for example if you want to become a doctor you will need to obtain a university degree in medicine which is very long and difficult, whether if u want to become a carpenter, you would have to firstly learn the trade through work with an experienced carpenter it would not be necessary to go to university.   People often have to choose where to invest their time with limited knowledge- you can’t know what the career prospects will be like when you graduate, how much you’ll enjoy your chosen field, and so on. People often make their decision on previous experience they have information on e.g ten years ago many school leavers would have sought after a career in engineering and building sector as the house and building market was booming in Ireland, but that has since collapsed and many of these young workers recently graduated and have been left unemployed. So therefore the point I am making is that sometimes no matter how much information you have, whether its relevant or not, you cant always predict what will happen in the future.

Additionally people also take these factors such as income, risk of unemployment and status into consideration when choosing a career but often don’t take into account important factors such as stress and possible job satisfaction. This information however is harder to come by. If a person has no experience in a certain field it is difficult for them to predict if they will enjoy it. The risk can be reduced by use of common sense of the information you already know. If you don’t like blood then no matter how much you like the status or salary of being a doctor, if yo cant stand the sight of blood a career in this area is probably not for you. Likewise with my other previous example a Carpenter, if you don’t like hard work and working with your hands this is not the job for you. Information on careers is easily available and can be very important in deciding what sector to go for and possible job prospects in the future, but the information on stress and satisfaction can only be obtained from within the individual making the decision.

References: http://lesswrong.com/lw/85x/value_of_information_four_examples/

http://www.catalogs.com/info/bestof/top-10-tips-for-choosing-a-career

2 Responses to “THE VALUE OF INFORMATION – CHOOSING A CAREER”

  1. sad111708665 March 9, 2013 at 2:35 pm #

    What an unusual blog! I found it very interesting though so thank you for that 😄

  2. sad111512527 March 10, 2013 at 6:59 pm #

    thanks for the feedback🙂

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