P.h.D or Job??
Hi guys,
First timer here, I have a bit of a dilemma.
Throughout my undergrad career I had planed to go on to do a P.h.D and become an academic I have a good track record and have been offered a second masters at imperial collage in theoretical physics (quantum mechanics) - leading to hopefully a P.h.D there or at Oxbridge.
However the lack of good academic positions jobs are of concern. I realised that becoming a quant is a good substitute as I can work with math, find solutions to complex problems and make a good living. I put my CV out there in the either and have had a lot of interest form head hunters but not yet heard from the company themselves (thou its only been a week).
If I do get a potion now should I take it? or will not having a P.h.D stop my progress up the ladder in a few years time? I've also been offered a PhD in computer science (calculating risk), would that be a better choice than a PhD in quantum mechanics for finance? Or are investment banks not worried about the specifics of the PhD, so long as you can programme??
I've been battling with the question of what to do for a month now (job or PhD) I did a year of research in the states for my masters so I know how taxing a PhD can be - but I'm worried about the prospects after a PhD and weather its worth the hassle.
I should mention that I live in the UK and the university crisis (raising fees, closing departments, staff strikes ect) is what has prompted me to look at other options other than academia, I also don't want to spend 5-8 years being a post doc . So while academia is not for me, I do really love research and that's the main reason I want to pursue a PhD.
Any advice - did any of you had the same thoughts and feelings in your early careers
Thanks guys!!
doing a phd at the moment. i'll tell you this. it's a lot of work, and being great in undergrad doesn't make it easy to succeed in a phd program. to answer your question, see what's out there job-wise, and go with your heart.
a phd is very much a job, albeit lowly paid
that said if you can grind it out, you will have a lot more options down the line with a doctorate in tow (keep in mind that an oxbridge doctorate opens up doors outside of britain, as well)
I wouldn't go BB with a phd, maybe a top prop shop or HF.
If you got other job offers, I would mention it in this post so people can give you better advice. I'd take the Phd in this market tho.
Hi guys
Thanks oldansacks good idea. So they job offers are in junior trading, Actuary and Catastrophe Risk modelling.
Cheers guys
I would only pursue a Ph.D. if you had a really strong personal/non-financial reason to do it. In general you are going to make less money over your lifetime with a Ph.D. because you have to spend so many years out of the work force. There's a good article on it here: (http://www.measuringusability.com/usability-phd.php). You mention wanting to be an academic. I can't speak to either the academic situation in the UK or in the sciences, but I'm working on a Ph.D. in the humanities in the U.S. and the job market is abysmal.
Also, you might be interested in research or finance now, but I promise that after years and years doing it, it will get boring and you will wish you were doing something else.
That said, life is about more than money and the accomplishment of earning a Ph.D. is worth it to a lot of people.
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