There are several factors which means there is no binary answer. The question of what is best for performance depends on your environment. By the way, if your single select with an identifier is not sub-second, something may be wrong with your configuration.
The real question to ask is how do you want to access the data. Single selects support late-binding. For example if you only want employee information, you can select from the Employees table. The foreign key relationships can be used to retrieve related resources at a later time and as needed. The selects will already have a key to point to so they should be extremely fast, and you only have to retrieve what you need. Network latency must always be taken into account.
Joins will retrieve all of the data at once. If you are generating a report or populating a grid, this may be exactly what you want. Compiled and optomized joins are simply going to be faster than single selects in this scenario. Remember, Ad-hoc joins may not be as fast--you should compile them (into a stored proc). The speed answer depends on the execution plan, which details exactly what steps the DBMS takes to retrieve the data.
answered 2013-07-18T14:14:10.450