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Message: <blockquote data-quote="Barny" data-source="post: 133615" data-attributes="member: 1584"><p>I think people confuse cause and effect here. People do not hire PhD's because they have the letters after their name. Getting a PhD for the sake of having a PhD is pointless. People hire people for their skills. It just so happens that you can learn incredible data analysis and modelling skills during a PhD, and these are the people who go on to good roles in banks. You can also not learn much in the way of data analysis. I know from personal experience, I am orders of magnitude better at modelling and data analysis now, in the final year of my PhD, than after my masters, and I did the world's top ranked masters in maths at the world's best university. This is mainly because of the rigour and high standards you are held to when publishing cutting edge science. Passing hard exams is one thing: pushing the boundaries of human knowledge is quite another. You learn the latter in a good PhD, which is why it can be useful for quant work.</p></blockquote><p></p>