COMPARE MIT Math PhD vs Princeton ORFE PhD vs NYU Courant Math PhD vs Columbia Stats PhD

[borelsmonkey]

Hello,

I’m curious about which PhD program would be the most beneficial for pursuing a role as a quantitative researcher at a top hedge fund (e.g., Citadel, Two Sigma, Jane Street, Renaissance Technologies, Jump Trading, etc.). I’ve been looking into the following programs:

1. MIT PhD in Mathematics (Probability & Statistics)
2. Princeton University PhD in Operations Research and Financial Engineering (ORFE)
3. NYU PhD in Mathematics (Probability)
4. Columbia PhD in Statistics

Would it be better to focus on probability theory or statistics/ML for these positions? Does it depend on the firm? Also, how do compensation and job roles typically differ across these firms for quantitative research positions?

Any insights, rankings of these programs, or general advice would be greatly appreciated!

Many thanks!

 

[Andy Nguyen]

They are all solid, top programs. If you get into any of them, it becomes more about how you make your coursework and research relevant to the niche field that employers hire. Reach out to alumni of those programs to see where they end up and how they apply the PhD to the work.
The compensation will take care of itself if you are a top candidate.

Thread '2024 Quant Salary Bonus Compensation'

12/25/24

Below is a sample of compensation data collected through r/quant sorted by firms/location/role/YoE/etc. This will be updated over time as more data is available.
Disclaimer: No guarantee of accuracy is given. The data is self-reported so it may result in sample bias.
Nonetheless, these are real-life data that is hard to find.

• Andy Nguyen
• Replies: 10
• Forum: Career Advice

• 

 

[CrossGamma]

Apply to all of them, then see where you get in and how well the research interests of your supervisor aligns with what you want to work on as well as what funding you’re getting. Then ask again.

All of these programs will likely get you past the resume screen for the companies you’re targeting. Having done a PhD myself, it’s extremely important to also make sure you’re working on something you’re really enjoying. Otherwise those years are going to be even more of a grind.

 

[borelsmonkey]

Apply to all of them, then see where you get in and how well the research interests of your supervisor aligns with what you want to work on as well as what funding you’re getting. Then ask again.

I have already received an offer from one of these programs, which is why I am asking this question.

Do you think funding and alignment with research interests are more important than the perceived prestige of the department in the eyes of employers, or does the school's name make a significant difference?

Also, when pursuing a PhD, is the content of your thesis more important, or does the university’s reputation carry more weight?

Thank you.

 

[CrossGamma]

I have already received an offer from one of these programs, which is why I am asking this question.

Do you think funding and alignment with research interests are more important than the perceived prestige of the department in the eyes of employers, or does the school's name make a significant difference?

Also, when pursuing a PhD, is the content of your thesis more important, or does the university’s reputation carry more weight?

Thank you.

I work at one of the firms you’re targeting after your PhD. You would get past the resume screen coming from any of the programs you listed. With a few rare exceptions, we don’t hire PhDs for the particular topic they have worked on as long as it’s in an area generally relevant to us (all of the programs you listed are). Once you make it past the resume screen, it is mostly about your interview performance. Thus my recommendation to not overly focus on optimizing what gives you a tiny edge when you enter the job market in five years but put a bit more weight on your happiness during the PhD by choosing a topic and supervisor you like, if you have that luxury.