Ask the permanent contract standards. In places like BIS where research is not the priority, it might be very vague and it might depend a lot on tastes of the decision makers.
BIS vs. MRM
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You don't get a permanent contract from BIS initally. Their system is even worse than a tenure system because they may not extend your contract even if you have a very good publication list.
does any rookie there get more than a JBF or JFS in their first years? maybe after time, once they figure out how to sell their data to external big names there is an RFS...
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Like all economic decisions it might be better to look at the life time profiles.
Peace of mind: after tenure in an MRM, you might reach the Nirvana when it comes to peace of mind.
Money: I am guessing, that might also be higher in an MRM. Better to ask BIS for the wage profile.
Option value: if you go to an MRM, there are hundreds of options (universities) once you want to change afterwards. From BIS, you can either go to central banks, IMF or WB.
Finally, BIS is a small institution. So the risks are higher, compared to the IMF. There might be only small room to move if you do not like your job.Peace of mind: I agree, can be comparable once you have tenure. Thing is, tenure there takes you likely longer and is comparatively more stressful. (You essentially depend on editors.) And let's not forget about the value of tenure being dependent on the financial situation of the university. So overall, I still see BIS ahead in that camp.
Money: Can only be higher if you do consulting. Applies universally, i.e. to all MRMs. BIS always dominates 300-400k US jobs.
Options: BIS gives you also a good shot at a private sector gig. CB network is huge and very varied geographically. BIS has offices in several locations. Not sure MRM is better here either.
I guess it's also a bit conditional on who you are and what you potential is. If you're extremely brilliant and tend to be underplaced at the MRM, the MRM is very likely the better choice. Less sure if you're just about ok placed at MRM. And it's all about preferences. You get more freedom at MRM, at least in the longer-term, but you need to value this relatively highly to make it worth paying the price.
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Like all economic decisions it might be better to look at the life time profiles.
Peace of mind: after tenure in an MRM, you might reach the Nirvana when it comes to peace of mind.
Money: I am guessing, that might also be higher in an MRM. Better to ask BIS for the wage profile.
Option value: if you go to an MRM, there are hundreds of options (universities) once you want to change afterwards. From BIS, you can either go to central banks, IMF or WB.
Finally, BIS is a small institution. So the risks are higher, compared to the IMF. There might be only small room to move if you do not like your job.Peace of mind: I agree, can be comparable once you have tenure. Thing is, tenure there takes you likely longer and is comparatively more stressful. (You essentially depend on editors.) And let's not forget about the value of tenure being dependent on the financial situation of the university. So overall, I still see BIS ahead in that camp.
Money: Can only be higher if you do consulting. Applies universally, i.e. to all MRMs. BIS always dominates 300-400k US jobs.
Options: BIS gives you also a good shot at a private sector gig. CB network is huge and very varied geographically. BIS has offices in several locations. Not sure MRM is better here either.
I guess it's also a bit conditional on who you are and what you potential is. If you're extremely brilliant and tend to be underplaced at the MRM, the MRM is very likely the better choice. Less sure if you're just about ok placed at MRM. And it's all about preferences. You get more freedom at MRM, at least in the longer-term, but you need to value this relatively highly to make it worth paying the price.Difficult to agree.
of course central banks network is large. But, other than a handful of central banks, which one would be comparable to an MRM job.In terms of money. Many business schools, including low ranked ones, give more money.
and for tenure, of course you depend on the the editors. but there are many of them. if one does not like, you try another. How is it in the BIS? how many people decide on permanent contract?
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There are not that many editors, in the end, that decide about tenure at MRM, there is no tenure for you without at least 1-2 top fives.
Agree that business school salary can be comparable, and even better because you're much more likely to get good consulting opportunities as faculty at top business schools. (I would also say that risk to your tenure/salary is commensurately higher and teaching is way more involved.) Econ no way. -
No! OP trust me :) not them. Just kidding. do not trust anyone.
It cannot as nice as BIS trolls advertise. Because you will be a positive externality for them. They would want you there to benefit your brain, for a while. Then after 5-6 years you will have some white papers at your hand.
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You need 1 top five at top 15 departments. Any top 15 department>BIS
There are not that many editors, in the end, that decide about tenure at MRM, there is no tenure for you without at least 1-2 top fives.
Agree that business school salary can be comparable, and even better because you're much more likely to get good consulting opportunities as faculty at top business schools. (I would also say that risk to your tenure/salary is commensurately higher and teaching is way more involved.) Econ no way. -
Excellent people have to leave the BIS for all kinds of reasons.
The only way you will not have to leave if you have a permanent contract.
They tell you at the first renewal what the chances of going to permanent contract is, so you have three years to find another job if it doesnt work out.
I have never seen a BIS person in the private sector. Most positions there dont really give you the skills that the Private sector requires.
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Excellent people have to leave the BIS for all kinds of reasons.
The only way you will not have to leave if you have a permanent contract.
They tell you at the first renewal what the chances of going to permanent contract is, so you have three years to find another job if it doesnt work out.
I have never seen a BIS person in the private sector. Most positions there dont really give you the skills that the Private sector requires.This is very negative. Excellent, have to leave, no private sector jobs. all in one post.
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You need 1 top five at top 15 departments. Any top 15 department>BIS
There are not that many editors, in the end, that decide about tenure at MRM, there is no tenure for you without at least 1-2 top fives.
Agree that business school salary can be comparable, and even better because you're much more likely to get good consulting opportunities as faculty at top business schools. (I would also say that risk to your tenure/salary is commensurately higher and teaching is way more involved.) Econ no way.
That’s plain wrong, sorry. One top five is usually not sufficient.
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The thing is, if you join now, the emperor (CB) is retired when you are up for conversion to unlimited contract. Depending on who comes after him, standards/requirements for conversion might chance strongly.
Agustin carstens is famous in mexico for his aversion to research. My guess is that the new emperor will be probaly as bad as the outgoing.