(IB) sector and the general sector, denoted “f,” for financial, and “g,” respec- tively. Assume that, subject to expending some search effort, anyMBA can find employment in either of these two sectors immediately after graduation. Then, as the person graduates, he compares the expected utility streams from each of these sectors over the course of his future career. Let uf (w0 f ) be the expected utility, as of career year 0 (that is, upon graduation), of a career that starts in the IB sector. The function captures the person’s disutility of effort in investment banking. The w term captures the income stream he can expect from a career that starts.