Thank you, Celia.celia wrote:This is a terrific decision-making process. You can add more options to consider (eg, work part-time, volunteer in area of interest (low-income or 3rd world areas), build other sources of retirement income) and/or more categories to consider (although the original question is only comparing finances and job satisfaction, but maybe location, reputation, impact on family could be considered). Many of us have made lists of pros and cons, but not weighted the importance of each item.VictoriaF wrote:. . .You can tweak the labels, their meanings, and the corresponding numbers. You can also assign different weights to the categories of Wealth and Work Environment. The value of this process is not as much in that it will provide The Number, as that it will give you more clarity in what you really want.
This decision making approach is useful for all life changing decisions, including selection of the profession, educational path, employers, and dating and marriage.
To clarify, the example I have provided earlier included only impacts and probabilities of various outcomes. If weights were used they would be added to the impacts. When weights are not explicitly applied, all criteria are implicitly given equal weight.