I have to go to academia and I hate it (advice needed)
Hello, everyone. I'm a long time lurker and happy to be here
Before anything, I just want to point out that I'm not a troll so please don't treat me like one
I'm an undergrad (finished my studies last year) in a third world country. last year I applied to most high ranking universities (for masters) just to check the waters and got into almost all of them. (think mit, Vanderbilt, Princeton, LSE, etc...) So I believe I have what it takes to (at least academically) to get into high finance.
But I don't have the money to pay for this programs, this means I have to go to a university that will give me the full ride, in my case, it would be Bocconi, Toulouse, Tilburg, etc... (all three even gave me a half TA position) essentially the best programs mainland Europe has to offer. Problem is that (and all these schools have made it perfectly clear) my chances of getting a job are minuscule since I'm not an EU citizen and even If I get a job in London, which is very unlikely I simply will not be able to work in the US which is where I want to end up. most of the admission team and professors in these programs have advised me to get a Ph.D. after my masters and go into academia since I apparently have the skill set needed. from the looks of it, there is a very good chance for me to get into top 20-30 finance program or even top 10 economics if I go to Bocconi's ESS.
I even got admitted to BYU's MAcc which essentially means I can easily attend a top 10 Ph.D. program in accounting and get a $225,000+2/9 job as an AP.
Problem is that I HATE academia. I hate everything about it. the teaching, the administrative work, lack of work structure, the laid back culture (compare to IB), the useless research. I hate all of it. I even don't really want to get my masters. I just want to start working and I certainly have enough in my arsenal to put my foot in the door. ( I know Python and R, I've passed all the CFA exams and the first 11 levels of ACCA, I know how to make financial models by the hearth, etc...) but because of my damn Visa situation, I have to get my Ph.D.
Yeah, I know there are lots of people who'd kill to be in my shoes, get to study for free in some of the best economics departments in Europe, with free housing and even a €18,000 yearly salary for 18-20 hours of work per week while getting all that resume boosting experince? forget about it. but the truth of the matter is I don't think me wanting to go into industry and admittedly being ungrateful about the opportunity has anything to do with it. Just because someone wants it doesn't mean I should want it too.
I.DON'T.WANT.TO.WORK.IN.ACADEMIA
But I have no choice.
I'm extremely disappointed and discouraged, and I really need some advice. what should I do? should I just give up and go to a Ph.D. feeder masters program or should I go to one that's concentrated on industry and just hope to get a job offer? what would you do if you were in my shoes?
thank you for reading
any and all advice is extremely welcome.
**TL.DR: I have no chance of working in the industry and a good chance of getting a good position in academia but I have the academia and I'm looking for advice.
**
Just chill out man
Now I regret saying any and all advice is welcome. pretty much my way of life depends on how I answer this question. I mean I understand that I may sound dramatic but that's at least how I see it.
thanks for the advice anyway.
wow, guys don't all post at the same time! you're gonna break the system
Almost every professor I had in college also made a shit ton of money consulting. It's not like being a professor takes 100% of your time. If you make the right contacts consulting you can segue that into full time private sector work.
that's at least somewhat promising but that just applicable to finance professors, isn't it? according to AACSB, only 2.8% of professors in accounting do consulting work regularly.
and again I don't really know for sure, but I believe this applies mostly to tenures, right? I 've talked to some professors in the aforementioned programs and they told me that I'd be working 60-80 hours a week for the whole seven years before my tenure. while that's manageable I don't think it possible to do much if any consulting.
I mean I'm 25 already (5 years doing a double degree in CS/Applied math and 2 years compulsory military service) by the time I get my Ph.D. I'd be 35 and at best I'd get my tenure at 42. that's not really a good age to get into consulting.
Which country are you from?
Iran -_-
Go to Bocconi to do ESS, apply for internships between years 1 and 2 and then bust your ass. You won't be the first Iranian to get a job in banking.
Happy to help, PM me
thanks, matrick actually your posts were one of the main reasons I applied to Bocconi. I know you're alumni of Bocconi and I really appreciate your help.
BTW are you saying ESS (rather than MSF) because it also leaves the Ph.D. route open or are you saying it because it's the most rigorous program in Bocconi? although I gotta admit I like ESS better.
P.S: do you actually know any Iranians who did that? cause I searched extensively in LinkedIn and didn't find anything. weirdly the program didn't help me with a list or contact infos either. I even emailed Milad Nozari (Ph.D. JMC from Bocconi who recently accepted a job offer from Yale) and he also didn't know any Iranian who got a job offer from IBs.
I'm saying ESS because for both reasons you mentioned actually. It is by far the most difficult course and if you get a good grade or even a 110, it'll catch attention from alumni doing the recruiting. On top it'll obviously allow you to do a PhD should you not get in at first try.
Do I know any Iranians who did exactly what you are thinking about? No. Do I know people from other countries who did it and who faced similar headwinds due to their nationality? Yes.
By the way: you wouldn't be the first one to do a phd and not go into academia.
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