$360k/year starting salary - Unrealistic?

[MMF]

I visited SBU last week as I have been accepted into their computational applied math PhD track, and as part of the visit I got to speak with a few faculty and students. One faculty claimed a student made $360k first year after graduation working for a bank. Now granted that includes things such as sign on bonuses, that seems awfully high to believe. Another student claimed a friend of his (also in the program) graduated last year and now makes $250k/year, also first year. Both of these students graduated from the computational applied math program rather than their quant finance program. What do you guys think, are these numbers fluffed in anyway? Unrealistic?

 

[Michsund]

I visited SBU last week as I have been accepted into their computational applied math PhD track, and as part of the visit I got to speak with a few faculty and students. One faculty claimed a student made $360k first year after graduation working for a bank. Now granted that includes things such as sign on bonuses, that seems awfully high to believe. Another student claimed a friend of his (also in the program) graduated last year and now makes $250k/year, also first year. Both of these students graduated from the computational applied math program rather than their quant finance program. What do you guys think, are these numbers fluffed in anyway? Unrealistic?

Working at a recruiting firm I’ve heard of some cases where exceptional PhD students have made up to 400k but I would be skeptical to believe such numbers. Sbu is a good university which I myself attended but it is hard for me to believe that statement is true from my experience with PhD students here.

 

[MMF]

Working at a recruiting firm I’ve heard of some cases where exceptional PhD students have made up to 400k but I would be skeptical to believe such numbers. Sbu is a good university which I myself attended but it is hard for me to believe that statement is true from my experience with PhD students here.

Thank you for your response. If you don't mind me asking, given that you're familiar with SBU, what is a more realistic entry and also mid level salary? Also, in terms of employment, it make a difference going into their quant track compared to their CAM track if the goal is finance?

 

[Michsund]

Thank you for your response. If you don't mind me asking, given that you're familiar with SBU, what is a more realistic entry and also mid level salary? Also, in terms of employment, it make a difference going into their quant track compared to their CAM track if the goal is finance?

Well I think, and am not sure, that Raphael Douady the former head of the formula has now left. This is a big blow if true as he was someone who had a large impact on the program. I know that the masters is pretty trash but the PhD students end up in some good sell side and buy side positions. To be honest I’m not so sure but I can talk to some people and find out if you want.

 

[ApolloChariot]

Unverifiable anecdotal evidence with a sample size of 2. I wouldn't think too much of it tbh. And a faculty member would be incentivized to bring up successful outcomes which tend to be outliers; they would never bring up anyone who is struggling to find employment or now working in an unrelated industry.

 

[MMF]

Well I think, and am not sure, that Raphael Douady the former head of the formula has now left. This is a big blow if true as he was someone who had a large impact on the program. I know that the masters is pretty trash but the PhD students end up in some good sell side and buy side positions. To be honest I’m not so sure but I can talk to some people and find out if you want.

That would be great and much appreciated! I have a month to make a decision so I'm trying to do as much research as I can before committing. Thanks again!