Choice of Program (among NCSU, UNC, TAMU, and UT Austin)

[Cavalerius]

I had posted this question as a follow-up to a previous post that I made about Texas PhD programs specifically, but it likely deserved its own post.

 

I have now concluded my visits to all the schools to which I was admitted, and I have narrowed down my choices to UT Austin, NCSU, UNC-STOR, and TAMU. Assuming that the funding is relatively equal after accounting for the cost of living, that the surrounding environment itself is relatively inconsequential to one’s quality of life, and that one works with a top professor within the given department, would choosing any one of these programs over the others provide better opportunities for the future, especially as regards the obtainment of academic jobs after graduation?

 

Some of my thoughts are as follows:

 

I really like the small size and research focus of UT Austin, but given its newness, it is hard to tell what kind of program it will ultimately turn out to be, whereas NCSU and TAMU, though larger--with NCSU being considerably larger--are already established as top statistics departments and UNC-STOR's focus on applied probability and theoretical statistics appeals to my mathematical inclinations--yet in talking with certain professors, I got the sense that these theoretical subjects are not as favored as others these days within the statistics community and of course, as compared with the others, UNC-STOR does not really offer the opportunity to do research in Bayesian statistics, at least not in the department proper.

 

Any further insights into what might distinguish these programs from one another are greatly appreciated.

 

[omicrontrabb]

I’m only familiar with NCSU, but I will say that compared to other similarly ranked programs, the vast majority of their graduates go into industry.

I got my undergraduate degree in statistics from NCSU, so I’d be happy to answer questions about the department/area.

[Stat Assistant Professor]

I don't think it is that probability/stochastic processes/etc. isn't as favored in the academic job market, it's just that it is much more competitive to get an academic job if those are your primary research areas (you may need to do two postdocs, and you need to be *really* good at it). As for theoretical statistics, there actually is a great deal of interest in statistical theory (as well as methodology and applications), but the subject matter that you do research on matters. Just as with computer science, the field of statistics changes pretty rapidly these days, so if you are researching something that is relatively obsolete, that has been "beaten to death," and/or is not of much current interest in the statistics community, then it will be hard to publish on it in good journals (and thus harder to get good academic jobs).

[Cavalerius]

Thanks for the clarification, @Stat PhD Now Postdoc. It just seemed that there are fewer academic and industry job prospects, as well as less interest in general among the students with whom I have met, when it comes to applied probability and stochastic processes, and some of the developments in other areas of statistics seem more promising, and I want to keep some options open since I have not committed to doing research in a particular area and had only picked schools initially that fit the type of research and projects that I had done up to this point, which were more in the applied probability vein. I am, however, mainly interested in developing statistical methodology with a focus on applications to finance where possible. (That is why UT Austin was particularly intriguing to me since the university excels in finance, and a few of the professors in the statistics department have dual appointments in the finance department or collaborate therewith to develop methodology for financial data analysis in particular.)

Edited March 22, 2019 by Cavalerius

[Bayesian1701]

It looks like you have settled on UT but you are sort of asking for permission if that’s a good idea. I say if that’s what you want go for it. 

[Stat Assistant Professor]

12 hours ago, Cavalerius said:

Thanks for the clarification, @Stat PhD Now Postdoc. It just seemed that there are fewer academic and industry job prospects, as well as less interest in general among the students with whom I have met, when it comes to applied probability and stochastic processes, and some of the developments in other areas of statistics seem more promising, and I want to keep some options open since I have not committed to doing research in a particular area and had only picked schools initially that fit the type of research and projects that I had done up to this point, which were more in the applied probability vein. I am, however, mainly interested in developing statistical methodology with a focus on applications to finance where possible. (That is why UT Austin was particularly intriguing to me since the university excels in finance, and a few of the professors in the statistics department have dual appointments in the finance department or collaborate therewith to develop methodology for financial data analysis in particular.)

I do not think you would be at a disadvantage if you attended UT Austin if you are interested in academia (and if you change your mind, there should be no difficulty finding a job in industry with that degree). The Statistics department at UT Austin has placed graduates in postdocs at UC Berkeley (in Michael Jordan's lab no less) and Princeton: https://stat.utexas.edu/people/phd-alumni

That is encouraging for someone interested in academia. You also mentioned in your original post that you like UT Austin's research focus and smaller size. Those are quite important factors to consider.

[Cavalerius]

Thanks for the astute observation and encouragement, @Bayesian1701, and for the additional information and comments, @Stat PhD Now Postdoc. I guess now that I have basically all the information that I need to make my decision, I just wanted to make sure that my reasoning made sense. 

You have all been very helpful through the whole process, and thanks again for all the insights! 

Edited March 23, 2019 by Cavalerius