Hey Caroll
I am in a similar situation. I got a Master in applied mathematics with emphasis in finite difference treatment of PDEs. I've just been offered admission in a couple of Phd programs in stat. I will sit for the qualifying examinations a week after the beginning of the fall semester.
I want to be a quant as well and I think that as long as you know what beeing a quant is all about (u should do your homework to figure it out) you should choose the right focus for your phd thesis.
This is what I came out with:
1-) Phd in mathematical -statistics with focus in stochastic processes
2-) PhD in statistics with application in risk management
3-) PhD in stat with focus on statistical arbitrage
4-) PhD in stat with application in quantitative finance (univ florida offers such an option)
5-) PhD in statistics with emphasis in financial modeling
6-) learn a lot of
C++ programming and get some nice projects done in
C++ along with an internship before graduation. It wouldn't hurt I guess to lay out there a couple of finance-related publications.
there are many more options when you want to find a smooth transition from statistics to quant.
I've designed my personal plan for the next two or three years in the stat phd program.
- focus in risk management which overlaps heavily with econometrics.
- get a master in financial mathematics with focus in derivative pricing (I've been told I should take no more than a year since I've taken all the required math classes pde,num analysis stochastics calculus,measure and integration etc...)
In a totally different note do not forget that as a statistics pHd you are in good position to complete at least four exams in road to be an actuary. Which is also a well paid job and is consistently ranked among the best jobs in the country.
Statistician have a lot of options out there :dance:
It would be interesting to get an actual quant's opinion about all this anyway.
Cheers !#-o