Phd Finance vs Phd Computer Science vs Quant 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.
1) 7 years at a quant shop vs 7 years PhD is a huge spread in money you'd make, so you should consider your non work related life goals as well because you're going to be broke for a while if you do PhD 2) PhD is a huge commitment and may not necessarily be an easy job market since they have to pay you that much more to hire you - I am no quant PhD, so this is just general sentiment.
I'd take the job, do a few years then see if you absolutely need a PhD to do what you want to do. Who knows? You could find that you like stuff that doesn't require PhD. You've already got something good in the exact industry you want to be in, why reject it in the hopes something better will come around after years of working on a PhD?
people change jobs pretty frequently in this industry. Taking a job at one shop doesn't mean if you don't like it that you can't lateral somewhere else in 18 months. Happens all the time. These quant jobs avg 150-200k/year...and that number goes up with experience. Lots of these quants become traders (i've seen a lot of that too)
There are over 300 jobs listed on Indeed for quants in the last 30 days. Investment Banks, HedgeFunds, AssetMgmt firms are thirsty for them. Go ahead and take a week to interview at 3-4 other shops before making up your mind. There is a shortage of that talent.
Out of curiosity, what search terms did you use to see this many jobs?
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