Switching trades or specialities has a clear benefit
Summary
- When a person switches professions, their initial skill may reduce fractionally, but after switching there is a higher growth rates.
Details
- Being willing to give up something gives us space to learn something new
References
Quotes
For professionals who did switch, whether they specialized early or late, switching was a good idea. “You lose a good fraction of your skills, so there’s a hit,” Malamud said, “but you do actually have higher growth rates after switching.” Regardless of when specialization occurred, switchers capitalized on experience to identify better matches.
Levitt identified one of his own most important skills as “the willingness to jettison” a project or an entire area of study for a better fit.