Graduate Program in Statistics: Master or PhD?

[Dang Hong Trinh]

Hi all,

I just want to ask for everyone's opinion on which type of program I should apply to. An upfront disclaimer is that I won't be applying for at least the next two years as I am joining one of the top Economics Consulting firms in June after graduation and intend to stay there for at least two years.

In any case, here are my stats:

School: One of the top liberal arts schools in the US

Major: Mathematics and Economics; Pursuing honors thesis with the Mathematics department. My thesis focus on the statistical analysis of the long memory property in stock volatilities.

Cumulative GPA: 3.94. Major GPA: 4.00

Relevant Coursework in Math:

• Introduction to Analysis A+
  
• Mathematical Statistics A+ (placed out of Probability Theory)
  
• Time Series Analysis A+ (Placed out of Intermediate Statistics (Regression Analysis))
  
• Mathematical Finance A+
  
• Applied DE for Finance A
  
• Currently taking Measure Theory
  
  Relevant Coursework in Economics:
  • Advanced Econometrics A
    
  • Dynamic Macroeconomics (essentially Macroeconometrics) A
    
  • Currently taking Evaluating Social Policy (essentially Microeconometrics)
    

  I haven't taken the GRE yet but plan to do so in early June before I start work. As is probably obvious, my interest lies in the intersection between statistics and finance. What school tier should I aim for? How much chance do you think I will have if I apply for a PhD? I am leaning towards the Master now just because I don't have much academic research experience. In all of my past summers I've been working in various capacities for the investment banks.

  Would appreciate any advice & feedback.

  Best regards,

  Anthony

[ANDS!]

Do you want to do independent research or do you want to "work". That's generally the difference.

As for your courses, you'll need Linear Algebra (upper division) and second semester analysis.

[Dang Hong Trinh]

@ANDS: Thank you for your answer. At this point I have preference to do work, so I guess that's tipping more towards a Masters.

And yes, I completely forgot about Linear Algebra (got an A+) . I did take the upper level Linear Algebra course at my school. Measure Theory is considered the second semester analysis at my school.

Thanks

Edited February 15, 2012 by Dang Hong Trinh

[Dang Hong Trinh]

Any help guys? I would also appreciate any advice on which Master programs I might have a better chance of getting in.

Thank you.

Anthony