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Study Hacks Blog

Zen and the Art of Investment Banking: When Working Right is More Important than Finding the Right Work

The Seeker

During the summer of 1998, Thomas was working an entry level position in the IT department of a large London investment bank, his days filled with data entry and the occasional light secretarial work. It wasn’t a terrible job, but it wasn’t great either. “I was constantly unhappy,” Thomas recalls, looking back at this period.

The most recent crop of lifestyle advice literature offers a clear directive to 1998 Thomas: Follow your passion to something better!

“It’s worse to tolerate your job than to hate it because, if the pain is painful enough, you’ll make a change,” Tim Ferriss explained in a recent interview with 37 Signals. “But if it’s tolerable mediocrity, and you’re like, ‘Well, you know it could be worse. At least I’m getting paid.’ Then you wind up in a job that is slowly killing your soul.”

According to this philosophy, Thomas needs to escape the tolerable mediocrity of his banker job before it becomes too late. But here’s the thing, Thomas had already tried that — quite a few times actually — and it hadn’t seemed to solve his problems.

Years earlier, right after college, a young Thomas, who was terrified of becoming a Dockers-clad cubicle jockey, followed a “passion” for cycling and quickly moved up the sport’s ranks to join a professional team. He had a tendency to overtrain, however, and admidst the physical grind of professional-level athletics, his mind turned toward greener pastures.

Quitting cycling, he entered academia, earning two graduate degrees, before discovering that his research was too mainstream to be interesting.

Wanting to try something more reflective and less demanding, he tried traveling to Korea to teach English. But even the lush exoticism of East Asia couldn’t dampen his sense that he was destined for something better.

“Every job I did paled in comparison to some magical future passion-fulfilling occupation,” he recalls.

Needing to pay his bills, he moved back to London, took the entry level Banker position, and remained unhappy.

If stopped here, Thomas’ story would be a cautionary tale of the soul-sapping repressiveness of the working world. But it didn’t stop here. Nine months into his job at the bank, Thomas did something completely unexpected; something that would change his life, but not at all in the way he assumed:

He dropped everything and moved to a Zen monastery, tucked into the foothills of the Catskill Mountains, where he would spend the next two years…

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The Race to Somewhere: How to Make the College Admissions Process the Foundation for a Life Well-Lived

The Race to Somewhere

The new documentary Race to Nowhere, following the tradition of movies such as Food Inc. and An Inconvenient Truth, is less about introducing a new idea, and more about providing a clear distillation of ideas already on peoples’ minds. This film, which presents a concerned mother’s investigation of the “high-stakes, high-pressure culture” of the American educational system, provides parents a focus for their otherwise ambiguous unease about rising student stress.

As one mother reacted after a Washington D.C.-area screening:  “I think more people need to be willing to take a step back and ask, ‘Why are we doing this?'” She then spread the word about the film to her local PTA.

Like most good issue films, Race to Nowhere separates the problem from the solution.  “[The co-directors] admirably convey the complexity of the issue with considerably more compassion than prescription,” complimented The New York Times. But now that this documentary has succeeded, and the issue of student stress is once again a hot topic, commentators such as myself can safely join the “prescription” side of this conversation.

Accordingly, in this essay, I want to present my unconventional view on student stress at the secondary school level: the college admissions process, which is the main driver of student stress, doesn’t have to be a bad thing, and in fact, if approached correctly, can instead become the foundation for a life well-lived.

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Learning to Love Your AP History Assignments: How to Hack the Psychology of Student Motivation

The War Against Extrinsic Motivation

In 1999, Alfie Kohn, an education writer described by Time magazine as “perhaps the country’s most outspoken critic of education’s fixation on grades,” published an article in High School Magazine titled “From Degrading to De-Grading.” It listed many arguments against grades, but its first is the most repeated: “Grades tend to reduce students’ interest in the learning itself.” As Kohn explained: “One of the most well-researched findings in the field of motivational psychology is that the more people are rewarded for doing something, the more they tend to lose interest.”

Kohn is referring to the voluminous research on the difference between extrinsic and intrinsic motivation. The former describes motivation that comes from rewards or punishments outside the task, like studying to achieve a good grade. The latter describes motivation for the task itself, like practicing the guitar simply because you enjoy practicing the guitar. The popular understanding of these motivations, as demonstrated by Kohn’s conclusions about grades and learning, is that when you do something for an extrinsic reward, you lose your interest for the subject.

And this presents a problem for students…

It would be great, of course, if students could find intrinsic motivation for all academic work, but this is a pipe dream. As you move through high school and into college, work becomes demanding. Few can summon an intrinsic interest in reviewing 200 pages of AP history notes or memorizing organic chemistry equations: these are hard tasks, which require the unpleasant mental strain of hard focus. In other words, a large percentage of student work will remain extrinsically motivated — we do it to for the grade and the interesting options a good GPA attracts, or to build the expertise needed for a remarkable life.

If the fears of Kohn are true, then this spells disaster for our Romantic Scholar project. How can we make school the foundation of an interesting life if the work required is destined to become something we lose interest in?

Fortunately, this popular understanding of motivation is woefully dated. The past thirty years of social psychology research has identified many different types of extrinsic motivation, and it clearly shows that doing something for an external reward does not necessarily doom you to losing interest.

In this post, I want to draw from this research to hack the psychology of student motivation: providing you with concrete strategies for embracing even the most demanding academic challenges.

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