MS vs PhD, accepted to two programs, need advice

[nanoman1]

Hi all,

So I wast just admitted to two great programs. This is one of the toughest things I've had to deal with...ever.

Caltech - PhD Civil Eng., tuition waved full fellowship funding

Stanford - MS Civil Eng., no funding offer yet

Now, if I were heart-set on getting my PhD, Caltech would be a no-brainer. However, I'm not 100% certain this is the path I'm wanting to take. Below are my personal pros and cons I'm dealing with, and I just want to know if any have gone through the same decision and have any advice.

I hit it off with my POI at Caltech and believe he really wants me to work with him, however Pasadena is REALLY close to home, I'm currently in OC, and wanted to be somewhere new. Also, as I'm not 100% convinced on a PhD (I've always been a bit of a business /entrepreneur type) and I do not want to waste the school's time or my time if I do not end up enjoying this route.

On the other hand, Stanford having a more business/industry approach (that I think) may allow me more flexibility in classes and research. After going through my MS I may have a better handle on whether a PhD is right for me. But I have no word on funding, and doubt I will get any help there.

Finances are obviously a big consideration as I will have to take out loans--if anyone can lend a voice of wisdom and reason to help me make the most informed choice, it would be really appreciated.

Edited March 3, 2012 by nanoman1

[nanoman1]

Bump!

[CarlieE]

It sounds like you're not under any time constraint ie. "Give us an answer by Friday or we revoke your offer" so I guess you can wait until you hear about funding from Stanford. Are you expecting funding to be offered? If they don't offer you anything, I would take the PhD since a lack of funding may signal that Stanford is interested but not THAT interested in working with you... So that might make for an uncomfortable working relationship (even if its only for a couple of years)...

[electrochoc]

It sounds like you're not under any time constraint ie. "Give us an answer by Friday or we revoke your offer" so I guess you can wait until you hear about funding from Stanford. Are you expecting funding to be offered? If they don't offer you anything, I would take the PhD since a lack of funding may signal that Stanford is interested but not THAT interested in working with you... So that might make for an uncomfortable working relationship (even if its only for a couple of years)...

I second that. Plus, many PhD programs still have room for you to exercise your entrepreneur side (and some amazing networking that may be very useful in the future).

Did Stanford give you an estimate on when you'd find out about funding?

[ktel]

Keep in mind it is often possible to leave a PhD program with a Master's if you end up deciding that's not the route you want to take. Now I wouldn't ethically suggest going in with that plan, but it doesn't sound like you are 100% against a PhD. I think in the engineering field you would be silly to take an unfunded offer.

[juilletmercredi]

I'm going to tell you what people told me when I was choosing between a fully-funded PhD program and a half-funded MPH program - if you take the PhD offer and decide that you don't want to continue, you can just leave after you've earned your MS. This is not unethical. It'd be different if you knew 100% that you didn't want to continue onto the PhD and took the offer just because it was funded. But the truth is, you aren't sure, and most people aren't 100% that they can stick it out for the long haul when they go to programs. Although I will say that you need to gear yourself up for that possibility and keep your eye on the prize because leaving a PhD program is a lot harder than it seems.

Don't pick your program based on location - choose that last. You can always move somewhere new when you finish your program.

A lot of engineering PhD holders end up going into business and industry. I talked to an electrical engineering PhD holder who is now a consultant at Boston Consulting Group. Many begin startups or go to work for top agencies like Google or Apple with their PhDs.

If you really want to go to Stanford, I would wait for Stanford first, and see if they offer any funding. But personally, I'd take the Caltech offer.

[nanoman1]

Thanks for all the replies, they're really helpful. I expect funding decisions from Stanford won't come until after the March 16 visit, but I haven't been given any reason to assume they will make an offer. But anyway, I am not being pushed to make a decision before April 15, so I can wait until all unanswered questions get answered. Appreciate all your responses!

[nanoman1]

After visiting Stanford and falling in love with the facilities, the vibe, and my POI, this decision has just become a lot harder. I think at this point I have to wait on Stanford's offer and decide. Although these two schools feel very different, it seems to make the decision between the two that much harder :/

My POI at Caltech has called a couple times now wondering if I had made a decision (for the sake of wait listed applicants), but I feel like I can't rush myself. What is the best way to say, "hey, you're offer is great, but I just need to get all the information I can, i.e. funding decisions, before I can say for sure."

Edited March 21, 2012 by nanoman1

[gromit]

I don't know much about caltech, but it sounds to me that Phd study at caltech is boring and the campus in depressing. (If I am wrong, please point it out, cause I also applied for caltech.) Therefore, if I were you and if funding is guaranteed, I'd definitely go to stanford.

Good luck with your future plan~