Phd Finance vs Phd Computer Science vs 1st Job
Hello everyone!!!
I'm new to this and the discussion has already been beaten to death before or in other places. However, I'd like to hear some more recent opinion.
The time is almost up for me to answer to a job offer I got. It's from a top quant shop where I interned this summer. I don't want to talk money, but let's say the offer is more than what I ever imagined to make out of college.
Also, I've spoke with a few competitors and the general sentiment is they will make an offer (they all invited me to visit their office right after the first phone call).
I go to a top 10 liberal arts school, pretty well know for it math phd placement.
I need to decide whether accepting the job is a better long term decision than going to grad school for a phd in finance or computer science.
I want to work in a quant shop, and I'm really interested in microstructure and HFT. This shop does a little of the former but nothing of the latter. Just not their competitive advantage.
Assuming I could get into a top Phd, say MIT, NYU, Columbia, Booth for finance or CMU for CS, what would all of you chipmunk do?
The Phd would add credibility to my name. Now my school is not really know in the industry.
Work could potentially lead to a VP position by the time I would return to the job market if I go with a Phd.
A hard one since you said pursuing a Phd will most likely open doors to your professional areas of interest (microstructure and HFT)
If you're 100% into quant finance and specifically into those areas of interest, go for Phd hands down. My only reservation is that pursuing a Phd is a consuming time and financial commitment. If you're not exactly sure, I'd take the offer to see whether quant finance is really for you (especially if its from a top quant shop so you know you're getting solid experience)
I'd also take the offer IF - 1. your internship experience was fantastic i.e. you love the team and the team loves you, work motivates you and gets the juices flowing 2. transparent work culture that breeds talent and gives you a firm idea of how to get promoted 3. IMO shouldn't be a priority but nevertheless, if your firm gives great exit opps to shops in your areas of interest
High calibre finance that employs nuclear physicists and math olympiads is always a tough one and to a certain extent, a different planet from typical recruitment for IBD & PE/HF since you actually need relevant credentials (vs. degree in furniture of the renaissance period --> goldman m&a)
In short, if the positions you're going for in HFT's and microstructures absolutely requires the Phd and you're irrevocably adamant that this is what you want, go for the Phd. If not, take the offer and see whether quant finance is for you
Thanks for the comment. Yeah I'm not 100% positive HFT or micro is the only route I want. There is to be said that one of those phd would open many doors not only in HFT. However working in a top fund for the 4/5 years spent doing a phd could also be a good idea.
I'm not exceptionally well versed in PhD apps, but I'd imagine that if you took the offer made some good money and didn't like it that you would have a great story/experience to apply for a PhD. If you forgo the job, you may potentially not make it back into the job you want.
https://www.quantnet.com is a better place to ask this question. Andy Nguyen will give you some of the best advice you're going to find online.
All the best.
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