Choosing between offers from PhD in FinMath from BU and from European two Master Programs. What would you advise? What are the pro's and con's of choosing PhD over Msc? Do people get Msc degree if they leave PhD after two years?
Phd is funded, otherwise I wouldn't talk about it.do you want to work in the US or Europe?
if not sure, do the phd.
- save money (assuming your phd is funded)
- opens more doors (academia, consulting)
- 4~6 years instead of 1~2 years for MFE. but i think it will be well worth it
Not trying to be funny ! I wouldnt worry much about nice girls, if i was smart and make ton of money on wallstreet. It is possible you can steal some of the nice girls in future from men who are unemployed or rude. Also, you can pick some girls who have kids already after your Phd so you dont have to worry about babies aggravating you when they are 3 months. Some babies cry alot more than the others.Several nice girls will be married and will have kids by that time
I have a PhD (or rather, I will have one....I'm defending in 2 weeks) in mathematics (not financial math, but whatever ). I think the best advice I can give anyone regarding a PhD is this: do it because YOU want to. Don't do it because of a job, or because you think it'll open job doors for you. Until you've done one, you really have no idea how hard a PhD program is. It's easy to say that 5 years is ok (by the way, lots of PhD programs in the hard sciences are turning into 6 years, not 5 years, so don't be surprised if you might even need a 6th year), but it might be harder for you to say to yourself when you're finishing up year #2 and realize you could've been done already. Also, I actually understand your point about girls being taken by the time you're done (you basically put your life on hold for the PhD and expect any man/woman that comes into your life to accept that you've made this giant commitment), but I wouldn't worry as much about that. More people are accepting of this than you might believe.Choosing between offers from PhD in FinMath from BU and from European two Master Programs. What would you advise? What are the pro's and con's of choosing PhD over Msc? Do people get Msc degree if they leave PhD after two years?
And concerning the attrition rates... How badly does an unfinished PhD (different things can happen in 5-6 years) spoil the CV and does completed coursework guarantee "masters en route"?If your end goal is a job in finance industry, go where it will prepare you for the job you want in the location you want. I feel many people put too much weight on a PhD. Just having one does not guarantee an interview among the sea of applicants with similar qualification.
You are best served finding out your unique strength and niche and find the program that can utilize it.
An unfinished PhD would just not go on the CV as far as I'm aware, but I'm not certain so maybe someone else knows? But this second question I definitely know the answer to. It's a definite "no" at least insofar as "guarantee." But to be more specific it depends on the school and the department. If your department allows people to earn a masters as a terminal degree, then you could earn the masters on the way and if you leave the PhD program later they will still let you keep the masters. However, if the department does not allow you to have a masters as a terminal degree, they may award you a masters on the way to a PhD, but if you fail to finish the PhD they will rescind the masters degree.And concerning the attrition rates... How badly does an unfinished PhD (different things can happen in 5-6 years) spoil the CV and does completed coursework guarantee "masters en route"?
An important question is: will salary of three years of work after MAFN outbeat MAFN price + four years of BU stipend?Try to find out how career services at PhD BU is. My understanding is that the MS FinMath at BU has gone through some big changes in last few years and they are now under the business school so there is some push for marketing the program better than when it was still under the Math dept.
Find out how that has translated into better career services and internship/opportunities to the students (both master and PhD).
I do not believe the Columbia MAFN program has a dedicated career services.
When you enter this field, it's all about the jobs and the opportunities it provides you. So go where your options and opportunities are optimal for you.
Well, I don't have potential big buck earning that much in mind - I wonder, how to explain the financial part of any decision like choosing expensive MSc program over PhD with scholarship to my DadYou are making a decision based on a lot of missing information. What accurate and comprehensive salary/placement data you have from the MAFN program?
Also, potential big buck earning in mind is not going to make your PhD years any more productive or enjoyable.
Point is, study something that will benefit you long in the future and you will enjoy the process. Money is something that comes with being very good at what you do.