PhD in financial markets or government job in financial accounting?
Hi all,
I am currently weighing whether to proceed with a PhD in financial markets in a reputable university in the country (not U.S.) or to go with a job in financial accounting in a government department responsible for a relatively large portion of the federal budget.
PhD program:
3-year research program focussed on markets microstructure and design. I am fortunate to have been offered a scholarship by a financial services sponsor which means the research will have a bias towards commercial results compared to a "normal" PhD program (which will hopefully help me break into the industry later). No tuition costs. Total package is around $100k p.a. for three years.
Job in government financial accounting:
This is a role in one of the largest government departments in the country (not U.S.). I'll be doing things such as financial reporting, forecasting, asset procurement, budgeting, etc. They will also assist me with further studies in the CA program. Total package is around $70k p.a.
About me:
22 years old. Completed a 4-year finance degree with a thesis component in 2013. This year I was a research associate at university working on financial reporting and U.S. stock liquidity. Other than a summer program at a Big 4 a few years back, all my recent work experience have been various roles at university. Participated in a lot of extra-curricular activities during university.
Dillema:
My long-term career objective is some sort of financial markets analyst (e.g. equity/fixed-income research, investment banking, stock exchange, financial markets regulator, etc.) or strategic/operations consulting (2nd preference). However, my GPA is too low for me to be viable candidate for these roles fresh out of university. In all honesty, luck and networking played huge parts in landing me the PhD and job offers.
Although I do not wish to be an academic (at least for the long-term), I have a slight inclination towards the PhD as I feel it may be my last "lifeline" in securing an analyst role in financial services (research work with the financial services sponsor will also be a nice bonus for some "practical" experience). The topic that is market microstructure also appears interesting as I have done some research work on that area. If I take the financial accounting job, I aim to complete my CA studies (which I believe takes 3-years). Hopefully by then, my work experience and CA qualification will make it easy for me to jump ship into my desired industries? Although, I'm afraid a 3-year stint in government will make it hard for me to transition into the industry. Help?
Thanks for reading.
