U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Education > Colleges and Universities
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 06-28-2010, 01:05 AM
 
Location: Vancouver, BC
547 posts, read 1,447,002 times
Reputation: 515

Advertisements

Hi,

I've research this topic for a bit, but I just want to hear some new opinions. I'm majoring in finance but I've also done a fair bit of statistics and mathematics.

I know that I'm definitely going to do a MSc in Finance or Economics (as long as I get in) after finishing my undergraduate degree.

I'm interested in doing a PhD because I'm really intrigued by economics, especially in asset pricing and risk management. I've looked at journal articles and have seen the type of work done by academics. A major reason for me is that when I encounter things I'm really interested in, I want to know as much as I can about it.

However, I have no interest in pursuing an academic career. Unlike the physical sciences, there's no need to work in labs. This means that I can do research wherever I want. I'm more interested in obtaining a private sector positions because I can do research and it's much easier to implement policies based on my research. For example, a lot of risk management techniques were implemented at Wall Street, albeit unsuccessfully, by people with PhDs.

Yet, since I'm innately interested in doing a PhD, I won't be concerned if having a PhD does not significantly increase my salary while working at the private sector.

Finally, finances are not a problem since usually PhDs are well-funded by the schools.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 06-28-2010, 10:36 AM
 
456 posts, read 1,001,440 times
Reputation: 192
Schools vary on the programs that they offer. I actually started a PhD program in economics at a school where they did not offer the finance PhD. I later dropped out after I realized that I would never get a job teaching at the college level because it's impossible to get in and you get paid nothing..so I teach high school. My serious advice is to teach HS in a state where they pay you well.

It took five years to get an MBA in finance and investments and a law degree. You can actually enter a combined program where you can complete both degrees in four years. This option is much more lucrative if you don't want to pursue teaching.

You are going to spend seven years of your life with the PhD, make nothing, and not have amazing job prospects when you are done. Please strongly consider what you are doing before you sign up for this. Been there done that.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-28-2010, 11:11 AM
 
1,946 posts, read 4,921,075 times
Reputation: 859
I disagree with JDMBA that you won't have good job prospects when you're done. However, you're not going to get any financial benefit out of spending a few years doing a PhD that you wouldn't get if you spent that time working. PhDs are valued for their training, but that doesn't mean you're going to be at an equal salary level to those who have been moving up the ladder otherwise when you're done.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-30-2010, 12:10 AM
hsw
 
2,144 posts, read 6,551,105 times
Reputation: 1538
All PhDs aren't created equal...either in terms of respect or relevance of institution or field of study to industries like finance or tech full of lots of really, really smart college dropouts, CompSci/Finance undergrads (at age 19) or CompSci PhDs from Stanford, CS PhD dropouts from Stanford, etc

In finance industry, economists (PhD or not) are generally viewed as dumb geeks who weren't smart enough quants to become computer scientists or traders who amassed substantial net worth by their early 30s, proving their risk/reward judgment and innovation in real world of risk, illiquidity, business cycles, competitors, etc

Many of top hedge fund quants are Stanford/Berkeley CompSci PhDs (or undergrads)...DE Shaw, Simons, etc....can't think of any economists who have ever amassed notable personal net worth (at a young age) vs the tech or hedge fund kings or princes...risk-adjusted time value of money, natural selection, and all that...hmmm
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-01-2011, 08:19 AM
 
1 posts, read 15,276 times
Reputation: 16
Do a MBA student is eligible to do his Phd in economis?
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Education > Colleges and Universities
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top