When it comes to making career decisions, I have noticed that professionals fall into the sunk cost fallacy when they continue a career track event when they are not interested in it anymore. This is especially true when they have already invested years working or studying towards a degree. This behavior happens for many reasons, none of them rational!
Keep listening to learn how Sunk Cost Fallacy can cause you to get stuck in your career. You will also learn 5 strategies you can use to help you make better career decisions to achieve your goals.
[02:19] What is Sunk Cost Fallacy?
[04:36] Why we're all prone to Sunk Cost Fallacy.
[05:26] One of the biggest risks to your happiness and wellbeing is sticking to a career you aren't happy with.
[06:21] Sticking with a course of study just because you've paid for it.
[09:00] First thing to consider: Only take future costs into consideration.
[09:54] Second thing to consider: Stop making irrational decisions.
[11:04] Third thing to consider: Don't feel guilty.
[11:38] Fourth thing to consider: Reflect and review constantly.
[12:09] Fifth thing to consider: Focus on future benefits instead of past commitments.
Links mentioned in this episode:
- My website
- Sign up for my newsletter
- Learn more about my group coaching: Job Hunting Made Simple
- Free resource - Optimized Job Search Schedule
- Want to work with me? Check my services here
- Ready for private coaching? Book a time with me here.
Other ways to enjoy this podcast:
Are you new to The Job Hunting Podcast? If so, here is a bit about your host:
Hello, I'm Renata Bernarde, the Host of The Job Hunting Podcast. I'm also an executive coach, job hunting expert, and career strategist. I teach corporate, non-profit, and public professionals the steps and frameworks to help them find great jobs, change, and advance their careers with confidence and less stress.
If you are 1) an ambitious professional who is keen to develop a robust career plan, 2) looking to find your next job or promotion, or 3) you want to keep a finger on the pulse of the job market so that when you are ready, and an opportunity arises, you can hit the ground running – then this podcast is for you. In addition to The Job Hunting Podcast, I have developed a range of courses and services for professionals in career or job transition. And, of course, I also coach private clients.
So there is no excuse – I'm determined to help you! I want you to feel empowered, nail your next job, and have the career you want.
- Subscribe to the newsletter.
- A free resource for job hunters: The Optimized Job Search Schedule.
- Learn more: www.renatabernarde.com.
- Book a time to discuss 1-1 coaching and achieve your goals faster
- Or please email me at firstname.lastname@example.org.
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Enjoy the episode and ciao for now!
Renata Bernarde | Job Hunting Expert | Founder, Pantala Academy
Host: Renata Bernarde
Editing: Cianna Reider
Music: Scott Holmes
Contact us: email@example.com
The Job Hunting Podcast is a podcast by Pantala Pty Ltd.
Pantala acknowledges the Traditional Owners of the Land we have recorded this podcast on, the Bunurong people. We pay our respects to their Elder's past and present and extend that respect to all Aboriginal and Torres Strait Islander cultures.