Whether to apply to grad school

[lbretz]

I have always intended to continue straight to the workforce after undergrad (I'm a junior), but very recently I've been realizing that I might want to continue studying economics, both because it's an intellectual passion for me and because many high-level data analytics positions require doctorates in econometrics/statistics. If you wouldn't mind reviewing my profile below and estimating my chances of getting into a good program, I would really appreciate it. I have very little concept of the requirements, so I'm adapting templates that I've seen others post here.

 

GRE: Will take this summer. I typically do very well (99th percentile) on all standardized tests. Shooting for an 800 in quant.

GPA: ~3.4, hopefully slightly higher by the time I apply

Majors: Economics, Statistics, and Finance (three separate degrees) with minors in Computer Science & Actuarial Science

Undergad: Michigan State (Honors College)

Math: Calc 2 (2.5), Calc 3 (3.0), Linalg (3.0), Abstract Algebra & Num Theory (3.0), Real Analysis (2.0) (can't retake)

Research: data work for a series of papers in the Journal of Income Distribution, coding work for a stochastic frontier model paper (unsure of journal name), co-author of several peer-reviewed reports and hedonic analyses from the MSU Land Policy Institute

Work Experience: research assistant at Land Policy Institute, coding for tech startup in CA, teaching assistant for six semesters at MSU for intro microeconomics, paid research assistant for two professors, risk analytics internship this summer with Deloitte & Touche, thousands of hours as a private econ/math/ACT tutor and paid econ helproom staff at MSU

Skills: can code in Python, C++, some HTML/HAML/SQL; experience with Stata, Matlab, SPSS, and a little R; fluent in French; really strong with Excel

Extra-curriculars: Student Economics Association, Women In Computing, International Corporate Tour (Europe, summer 2013), Honors Students Actively Recruiting, Honors Times Two (mentored two gifted elementary school students), Honors College First Year Council, Honors College Programming Board, Alumni Distinguished Scholarship Competition Student Leader

Awards: Professorial Assistantship, Honors College Scholarship, Lewis W. Kaminga Scholarship (for high test scores), Department of Economics Scholarship for Outstanding Achievement

 

My GPA is clearly a very weak point. I never considered grad school, so studying was never really a priority for me over my jobs and research. Will this preclude my admittance to competitive programs?

 

Thank you very much for your input!

[dania201]

I think the right way to approach this might be to ask what you would do next if not grad school. A lot of great grad students didn't organize their life around grad applications when they were freshmen in college.

 

Are you considering work after undergrad in a very competitive marquee-type job? Working in banking or big-3 consulting is a route many econ majors take that will soon overtake any 'blemishes' you feel are on your undergrad resume. And, frankly, often will increase your chances of getting into a better institution. 

[lbretz]

Thank you for your response! 

 

If I don't go to grad school immediately, I will most likely work for Deloitte & Touche after undergrad. While the analytics work seems interesting and well-compensated, I feel that I might be missing out by not aiming higher, such as applying at Google Analytics, which requires a PhD. I am also reluctant to end my higher education here in undergrad, as economics is a passion of mine and I know that I probably won't want to leave the workforce once I enter it. 

 

Deloitte does offer to pay for some employees' graduate educations, although this would probably be something more akin to an MBA or a Master's degree in applied economics. I fear that I might be permanently closing the door on many fascinating positions by not pursuing my PhD. Of course, there is an opportunity cost to every decision. I was just curious as to whether I have a chance at getting into a decent program, or even staying at MSU (which I adore) for grad school.

[ferd]

Thank you for your response! 

 

If I don't go to grad school immediately, I will most likely work for Deloitte & Touche after undergrad. While the analytics work seems interesting and well-compensated, I feel that I might be missing out by not aiming higher, such as applying at Google Analytics, which requires a PhD. I am also reluctant to end my higher education here in undergrad, as economics is a passion of mine and I know that I probably won't want to leave the workforce once I enter it. 

 

Deloitte does offer to pay for some employees' graduate educations, although this would probably be something more akin to an MBA or a Master's degree in applied economics. I fear that I might be permanently closing the door on many fascinating positions by not pursuing my PhD. Of course, there is an opportunity cost to every decision. I was just curious as to whether I have a chance at getting into a decent program, or even staying at MSU (which I adore) for grad school.

You seem to have the math background required, so you could probably make it into a pretty good program. But it comes down to having a clear rationale for pursuing doctoral work. And I wouldn't make too much of going straight from undergrad. I am going back for my PhD this fall, 9 years after finishing my undergrad. My work experiences were valuable in helping me define my grad school goals, instill good work habits, etc. I would encourage everyone to have at least a year outside school...