![]() ![]() However given your stated career goals I don’t think a PhD is a good fit. If your goal is to maybe be a professor, or a researcher at a PhD only lab, or consult a central bank, or even start your own firm/ strategy then yeah, it will give you the skills and qualifications necessary If your goal is to just be a quant, then no. I’m the son of two phds and work with phds daily so I can take some sort of stab at this, but I would say yeah depending on what your goal is. You’re going to end up having regrets because most of the top firms now will give an undergrad with 4-6 years work experience in quant research more or the same as a PhD just starting their career (unless you have some truly exceptional research relevant to the firm or some prior work experience) Also IMCs comp isn’t that great, they lock a lot of it away behind deferred comp to force you to stay at the firmĤ. don’t do a PhD expecting a massive salary boost unless you’re going to a old school firm. I have an undergrad and have gotten research offers at good prop trading firms and citadel.ģ. Don’t do a finance PhD so you can get into a citadel. If you can learn concepts quickly and maintain immaculate attention to detail, this is a good fit, because the work is greatĢ. The job is suited for phds not because they have phds, but because they’re capable of learning new things quickly and well because no one holds your hand. If you know your quantitative methods and techniques then you might have a sharp learning curve on the business side and vice versa. Your learning curve is steep depending on what your experience is like. Yeah I’m a researcher at a buy side firm at the moment. I have passion in both finance and statistics so PhD degree is not a problem, and I also hope to learn more through PhD training.ġ. In the long run, is PhD more conducive to career development? What is the salary for PhD at the beginning and the salary for 5 years after MFE graduation? Assume that MFE students worked in big bank / top prop trading like IMC.Ĥ. Whether companys like DE Shaw and Citadel would prefer finance PhD or statistics PhD, or both have the opportunity to get into them directly?ģ. I saw many people continue to study PhD after reading MFE and finishing a decent summer intern, so I would like to ask whether the work of a full-time quantitative researcher is really as interesting as what people thought and do they have a steep learning curve?Ģ. If choose to work after graduation, I may need to constantly change jobs to achieve my goals.ġ. I have received some offers suitable for pursuing PhD in Statistics (Uchicago and Duke stat ms) and some offers suitable for pursuing PhD in Finance (Columbia Business School FinEcon ms). I have two options, one is to work after graduating from a master's degree, and the other is to continue to pursue a PhD degree. I want to be a top quantitative researcher and my goal is to enter a top hedge fund. I am a senior student who is about to graduate and now feel a little confused about the future. ![]()
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