dudelove

Well, I already have an MA in Stats from an Ivy League ~ Top 15 ranked program. I guess my question would be now: How much clout does a PhD from a decent (top 50 program) weigh in versus just having the Masters from a top 15 program? Are these quant jobs still available or will I not be taken seriously unless I get the PhD? When I first graduated with my Masters, I didn't really look too hard for jobs, so I have no idea what type of jobs are attainable with just a Masters... As far as my reasoning for all of this: I am just not really interested in doing a dissertation in Statistics. Maybe I can work for a year or two, take some extra undergrad classes, and apply to a different doctoral program. I know I'm all over the place, but it seems like a PhD in Finance or Econ would be easier / less math oriented than a Stats PhD. I hope this doesn't make me sound crazy.

I already posted this topic in another forum, but I think it is more relevant here. I'll start with my background: I have an undergrad in Math from a fairly known state school, and then went on to get a Masters in Statistics from a top ranked Ivy League school. My GPA wasn't stellar, but wasn't bad - about a 3.5 at both. After my Masters, I worked for a year at a non-profit as a 'Research Analyst', although it did not really utilize many of the skills I picked up in my program. It was mostly Excel, presentations, basic data analysis. I really wasn't into working here, so I decided to head back for a PhD in Stats. So we come to my present situation. Right now I am a few weeks into the first semester of the PhD in Stats program. It's in the top 25 - 50 ranking, so it's not bad, but nothing amazing. Anyway, I kind of knew over the summer that I didn't want to pursue the degree. I became more interested in finance/business over the past year, but I decided to attend the program because I didn't know what else to do. At this point, I'm pretty sure (like 90%) that I don't want to finish the program. Some of the reasons I wanted to go back to school included having a 'flexible schedule', but I'm quickly realizing that I'm actually busier now than I was while working full time. Also, I had thought I wanted to be a professor, but a) I really don't like being a TA and I can't see myself doing research for the next four years. I really don't know what to do at this point. I'm not sure how much my MA in Stats is worth. Yeah, it's from an Ivy, but Masters seem to be flooding the market. When I first looked for jobs, I think I sold myself short since I just wanted to get ANY job and work as soon as I could. Are there huge differences in job prospect between a Masters and PhD in Stats? Since I've become more interested in business, I was thinking of trying to work for a top consulting firm for a few years, then going for my MBA. What would be the difference between a Stats Phd and a MA in Stats + MBA? Any advice/feedback is appreciated!!!

Thanks for the quick reply. I guess I should just wait until the end of the semester and re-assess... I think when I wrote my initial post, I wasn't thinking completely clear. What I was trying to convey is that I've recently become more interested in the 'business' aspect of finance, with less emphasis on math and modeling. Yes, I like using my math skills to solve problems, but not at the indepth and specialized level that a PhD in Stats would require of me. I'd much prefer the sort of thing where a company would come to me and say, "Hey, help us solve our manufacturing/debt/profit issues". I believe this still requires creative thinking and quantitative thinking, but nothing quite theoretical. These type of issues would seem better geared towards an MBA, rather than a PhD. I do believe I can get an MBA from a top ten program - my Masters is from a top ten program and I have a decent GPA in it. I'm beginning to realize that the whole point of this post is simply to help validate my thoughts. Ever since high school, I always saw myself getting a PhD and becoming a professor, so coming to the realization that it may not happen is difficult. I tend to idealize things, and in the process, I forgot how much work and isolation is going to come along the PhD path. I appreciate anyone's feedback!!! Thanks!

Hey guys, this is my first time posting here, so please bear with me: My background: I have an undergrad in Math from a fairly good state school, and a Masters in Statistics from a top program. Decent GPA at both institutions ~ 3.5. I worked for a year. It was in a job that I hated, but I rushed into it because I was scared of the job market at the time. After a year of working, I went back for a PhD in Stats. This is a top 50 school, but not a top 20 school... Anyway, it's a few weeks into the semester and I don't think the PhD is for me. I wanted to pursue the degree initially because I thought I wanted to teach and do research, but I'm quickly realizing both of those things are not for me. Over the past few months I've become interested in business/finance, so my question is: Do I stick out the PhD for 4, maybe 5 years and wind up somewhere as a quant / hedgefund financial modeler? Or do I cut my losses quickly, and drop out. I can work for a few years, go for an MBA (I think I'd be able to pull off a top 15 program) and then pursue the same path? This path would save me time and energy that I'd waste pursuing a PhD. Any advice or feedback is appreciated! Thanks!