Dropping out of a Statistics PhD

[statsphd2020]

What are the pros or cons of dropping out of a Statistics PhD (possibly with or without a masters) to go to the private sector? How many people do it at a top 10 program? Is it looked down upon?

[statsday]

Are you planning on attending with the intention of dropping out, or are you in a program now and you are thinking of dropping out? 

[statsphd2020]

I'm in a program right now. While I am enjoying the coursework, I have come to the conclusion that writing a dissertation would not be my cup of tea given the research I have worked on so far. I have interned in the tech space and I am pretty confident they would give me a full time offer were I to ask. I am just a little worried about how it looks internally and in terms of letter of recommendations.

[Stat Assistant Professor]

My sense is that the attrition is definitely lower at top programs. But top programs are more likely to accept more advanced students (i.e. those who already have taken Casella & Berger Masters level statistics, measure theory and tons of other advanced math, etc.),  so they will be able to hit the ground running on research faster.  Top programs also do more to ensure that their students can focus on their research and complete their degrees in a timely manner (for example, giving the students more reasonable teaching loads and higher stipends). 

The pros of Master'ing out of a PhD program are: lower opportunity costs (4-6 years is a long time to be out of the "regular" job market), you can make a decent amount of money right away, and if you really aren't that interested in an academic career or a career where a PhD is needed/preferred, then you will have less sunk cost. The con is that if you do that, certain careers (e.g. academia, leading your own R&D group in big pharma, etc.) will probably be closed off to you and your pay ceiling may not be as high as if you had a PhD. For example, Distinguished Professors often make more than their industry counterparts. 

There are also more cons if you're not an American citizen/permanent resident (it's much easier for foreign nationals to get an H1-B work visa if they have a PhD, particularly in STEM). 

 

[Stat Assistant Professor]

29 minutes ago, statsphd2020 said:

I'm in a program right now. While I am enjoying the coursework, I have come to the conclusion that writing a dissertation would not be my cup of tea given the research I have worked on so far. I have interned in the tech space and I am pretty confident they would give me a full time offer were I to ask. I am just a little worried about how it looks internally and in terms of letter of recommendations.

As long as you don't burn any major bridges, there shouldn't be any issue with leaving your program. I wouldn't worry about what other people think, e.g. whether or not they would be "disappointed" if you left. Most likely, if you are cordial about it, you can still use your professors as potential references for future jobs (though you probably won't need to resort to this if you have an industry job...). It's far more important to consider how YOU would feel if you exited. The main questions I would ask yourself are: how much will you regret it or feel like you're "missing out" if you don't earn a PhD? Is the PhD really necessary for what you want to do? Or even if it isn't necessary to achieve your career goals (seeing as most PhD's end up leaving academia), will earning a doctorate enrich your personal well-being? 

Edited March 27, 2020 by Stat Postdoc Soon Faculty

[insert_name_here]

In top 10 programs, I'd ballpark that ~10-15% of people drop out, so it is uncommon but by no means unheard of. PhD's aren't for everyone, and people get that.

Basically, if you're not happy and don't think that will change you should probably drop out. Otherwise, you'll end up in your late 20s, poor, with a mediocre PhD (if you don't enjoy it, it won't be great), and a ton of residual stress/anxiety to work through. A few caveats

- If you are far enough along - say 1, maybe 2, years from graduating, there may be an argument for gutting it out - there is a tangible benefit to graduating.

- If you don't get a PhD, you won't work in academia, so I wouldn't worry about letters of rec (side note - you should have a frank conversation about this with your advisor if you haven't already)

- If at all possible, you should do the work to get a masters. If you've stuck around for a year or so, I think most schools will give you one without too much work (maybe a couple extra courses).