lhfields

Count me in! I am going to Cornell, too. Ask any questions deemed helpful to you or other soon-to-be Conrellians!

A direct answer to your OP subject: STATISTICS IS A VEHICLE FOR ECONOMETRICS. Statistics is a means to an end. Most social science fields utilize statistics as a quantitative vehicle to enhance our understanding (e.g. inference) of different phenomena (e.g. research subject). So why someone might forgo the opportunity of exploring different fields as a Stats Ph? Why on earth someone apply as biostatistics or econometrics PhD? Some undergraduate or graduate students have a clear research goal and what they want to pursue (e.g. econ, applied math, or bioengineering could've been their undergrad majors). There's nothing wrong with specialization. In fact, most Stats PhD decide which subfield they are going to tackle in their 3rd-4th year. LHF

Hi! I have two points: - Some other posts mentioned you need to have some degree of interest in academia in order to pursue PhD. Disagreed. I know four top Finance PhDs who will go directly to hedge fund without trying to secure an assistant professorship upon their graduation. In fact, having a clear goal actually helps you. - Now this might sound somewhat inconsistent. But as far as getting an admission ticket, you unfortunately must show that you are extremely interested in research. Your momentum in producing an original intellectual creation is the single most important thing many ad-coms will look at (strictly my opinion). Based on the parts of the profile you disclosed, you might have to either highlight your industry experience and make a linkage to academic research or start doing some. LHF

I second hubris though I will make few points: - I see a huge leap from an asset management internship program to applied math & statistics PhD programs. Where is the motivation? - Which leads to my second point: It should be the other way around. Not -what type of summer jobs should I stack on my resume to get into PhD, But instead- I am interested in research and learning, teaching so I want to pursue PhD degree. The thoughts that ensue from committing to the idea that you will apply to PhD simply tell me you haven't exactly fleshed out what you want. But, please do not misunderstand me. It doesn't mean you have to figure out everything. But think again why higher education interests you, and why applied math and stats. Talk to your alumni who might have deliberated over the same issue or professors. They are often proven to be excellent resource. LHF

Hi, Congratulations on your admission to UCSB Master's program in economics. Here is my two-cent: - In your first paragraph, the most important clause is the following: "Eventually I hope to work in finance". First, you need to narrow it down. What type of work do you plan to do? Trading and sales, risk management, consulting, or the like? Rethinking about this will give you a more clear idea of which program or career trajectory you want to be on. - Just curious: when you state you are a recent graduate from a European business school, is this undergrad or grad school for MBA? Regardless of the answer to my question, if you plan to work in industry, why did you choose master's program in economics while you could simply applied for MBA program, which will enhance your chances of landing on a Street job as associate? - Opportunity cost: May I ask what is the reason you want to pursue another Mater's degree in statistics? Do you believe it will increase your chances of getting your dream job significantly? Remember, while you spend two more semesters in classrooms, you are forgoing the opportunity of cumulating industry experience and wage. Of course, it is needless to mention most of the Master's program in statistics are not funded. If you really want to spend an extra year exploring statistical methods and inference, you might as well do it at UCSB since you would have established a firm network among professors, advisors, and fellow students. - As for recommending good Master's program in statistics, I recommend LSE, Columbia, and Cornell. If you plan to work upon graduation, Cornell might be the best program since I've seen outstanding job placements. LSE has a program called Master's in Risk and Stochastics. I know a few friends who attended this program and are satisfied with the program's curriculum. Best of luck, LHF

Hi, I know this is a late reply and you probably don't care. But, look at the professors at each school. It is all about the type and quality of resource you have in reach during next four five years. Like the other comment, Berkeley devotes a significant resource to Econ/Finance in both A&S and Haas. But, if there exists someone whom you want to work with towards your doctoral degree at Anderson, then that should be your top choice. Just my two-cent... LHF

Just my quick two-cent: - I could be wrong, but "quantitative finance" sounds like a tautology to me. As far as "finance" PhD students are concerned, the backgrounds of the students range from particle physics PhD to a bare minimum master's students with math or stats degree. So, to make your life easier, I think it is safe to say applying for "finance" phd programs provides you sufficient quantitative rigor! LHF

Go Big Red! I know a friend from Cornell who got into a Business Economics PhD with a very similar background (e.g. even a degree). The only thing I think you might want to add is few quantitative courses. I am not sure if you have time to take more courses, but a legit probability course and differential equations (e.g. ordinary would suffice) class would polish up your specs. Also, highlighting your industry experience seems like the crux of your personal statement. LHF

Just my quick two-cent: - Contacting professors shouldn't matter much. Not only is an average applicant going to submit more than 20 applications, but also the ad-com would prefer someone who has a stronger mathematical background to those who "touches bases" with professors. Even if you somehow get in touch with the professors at different universities, the credentials on which their decisions would depend are going to be exactly your application material. -Based on my sample, No. I've seen a Master's student who applied to a phd program in business school, and he didn't get in. The most adequate response to your second question is always "it depends". If you did a yearlong research with professors in business school or economics department, then great, you will probably have a higher chance of being admitted. But like I said, it all depends. Hope this helps. LHF