In my first year...still have time to switch...what is the best PhD for industry from the following: Finance, Statistics, Economics, Econometrics.
Aside from the monetary aspect, what types of careers accord with each field at the doctoral level (i.e. please don't tell me what a masters in finance does)?
So far, this is my intuition (please help me correct my biases):
Finance is all stocks and stochastic stuff. Intangible, but extremely lucrative. Work after a fenance PhD is in the back room of a hedgefund.
Stat PhD is all about models and data and subscripts. Very dense. Lucrative in tech, but not applicable to any social projects because they don't pay attention to endogeneity. Also, learn techniques that—compared to metrics—are highly advanced but not applicable to economic data.
Econometrics PhD is measure theory on steroids with a bunch of extremely complicated math that doesn't help in industry. Not much focus on application, more theory. Not sure where these guys work outside of academia.
Economics PhD is miserable life researching and wishing you did something else.
Stata PhD + some economics background so that you understand endogeneity would be a lucrative combo according to your analysis
Finance phd seems cool but a bit too pigeonholed
If you have some stats already from your econ background, why not consider a comp Sci PhD as mentioned already? You get very broad options
Lemme reiterate -- math or physics. 90% of the people I have seen have that background, a finance phd is useless unless it is heavy in derivatives or the right kind of theory. If you think fama macbeth or time series economtrics or panel data are going to help, the joke is on you. In some places that draw heavily from academic research like aqr things may be a bit different, but that's not the norm. Feel free to ignore at hour own risk (unless you want to end up in consulting)
I have been on the sell-side for several years. The most successful and highest paid quants I have seen, in both banks and hedge funds, have usually had degrees in math, physics or engineering (ee or much). Do know of people from other fields who have done quite well as well, but that is the exception rather than the norm.
This only applies if by industry you mean a job in finance.
I have been on the sell-side for several years. The most successful and highest paid quants I have seen, in both banks and hedge funds, have usually had degrees in math, physics or engineering (ee or much). Do know of people from other fields who have done quite well as well, but that is the exception rather than the norm.This only applies if by industry you mean a job in finance.
emphasis on sell-side. I don't think these guys would do well on buy side.
I have been on the sell-side for several years. The most successful and highest paid quants I have seen, in both banks and hedge funds, have usually had degrees in math, physics or engineering (ee or much). Do know of people from other fields who have done quite well as well, but that is the exception rather than the norm.
This only applies if by industry you mean a job in finance.
This is because no one with a good Econ or finance phd would even consider working as a sell side quant. The reason why it's math and ohysics guys doing these jobs is because there are zero academic jobs, and almost nothing else the y can do on industry