Hey everyone,
I have a scenario that I was just positing and I am wondering what other's thoughts are on it. Say you got accepted to two programs, one a highly ranked masters, such as say Columbia or NYU, that would cost you tens of thousands of dollars, and one a lower ranked PhD, say New School, CUNY, or Stony Brook, with full funding as to allow you to live semi-not-uncomfortably. If given the choice, what is the best option (presuming one's goal is to become a tenured professor one day): (1) to say no to both programs, try to improve GREs and research experience, and try again next cycle; (2) accept the masters, take loans, and hope it improves your admissions chances for the next cycle; (3) accept the PhD and hope that when you finish you can find a job you don't hate in a very difficult academic job market.
Although I will not be applying until next cycle, I intend to apply to a range of schools in terms of ranking from Princeton to maybe CUNY. I am just curious as to what I should do if my cycle were to go that way, and it might as I have good, not great, stats, and judging by what I've seen on this forum thus far, you really never do know what will happen with PhD admissions.
Thanks!