Job Selection Problem

Job Selection Problem

Title: Job Selection Headache

Executive Summary:
Introduction & Problem Description:

I am currently facing a dilemma as to what job shall I aim to apply for after my graduation from the Master of Science course. Personally, I am a risk neutral person. I would like my job to be challenging and interesting. I would also like my job to be able to have the opportunity to travel overseas for attachments. The traveling will allow me to experience new cultures and enrich my working experience. The job that I choose must be very stable, meaning the chances of retrenchment is kept low, preferable. It is best if the job is similar to the Chinese saying “Iron Rice Bowl”. In addition, the monthly salary and average monthly bonus of the job must be as high as possible. Finally, to satisfy my thirst for learning, skill upgrade courses must be provided for me to learn new skills to improve and update on my knowledge.

The monthly salary, S and the annual bonus measured, B are uncertain. The average monthly bonus, C is obtained by taking the total amount of bonus that is given out as a lump sum at the end of the year and divided by 12 as there are 12 months in a year. The monthly salary and annual bonus are dependent because bonuses are paid in terms of monthly salary. E.g. A person with poor performance might only get half a month salary as bonus while a person with better performance might get one month salary for their bonus. In addition, the monthly salary and average monthly bonus is dependent upon the job chosen.

The 3 alternatives I currently have are to be a teacher with Ministry of Education (MOE), working as a project coordinator with Halo Oilfield (My mom’s company) and lastly, entering the supply chain management graduate program with Halliburton.

The starting salary at Halo Oilfield follows a normal distribution with a minimum monthly salary of $2500 and a maximum of $3000. The nominal monthly salary is defined at $2750; low is at $2500 and high is at...

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