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goekhan
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Posts: 0
Joined: January 14th, 2008, 9:09 am

PhD + Job

August 9th, 2008, 3:03 pm

Hi guys,I hold a master in physics and I am currently doing my second master in mathematics within a quantitative research lab of an Investment Bank.We are doing theoretical research on market models and so on. Currently I feel a great drive to go into business right after having finished my master, not because of money in the first place. But I feel very attracted to stat_arb techniques and alpha generating methods, something I am to some extent familiar with since my physics studies . On the other hand there are several reasons for pursueing a PhD as a quant and somebody who enjoys the freedom of academical work.So I wonder If there are possibilities to combine work and PhD in the field of statarb, pattern recognition within a professional investment bank.I think these positions are not advertised that much.Anybody who has an opinion on this?Thanks in advance
 
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ZmeiGorynych
Posts: 6
Joined: July 10th, 2005, 11:46 am

PhD + Job

August 9th, 2008, 9:40 pm

Work in the area you mention is much more fun than academe, if you can get a job in your chosen area after your MSc is finished (which is likely if you're any good), don't bother with a PhD. And PhD parallel to work is an abysmally bad idea - both require your full attention.
 
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TraderJoe
Posts: 1
Joined: February 1st, 2005, 11:21 pm

PhD + Job

August 10th, 2008, 12:40 am

You'll need a PhD to be a quant.But Zmei is right - don't try and do both (PhD + work) together. Really bad idea.
 
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StatGuy
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Joined: November 20th, 2007, 9:03 am

PhD + Job

August 10th, 2008, 1:46 pm

QuoteAnd PhD parallel to work is an abysmally bad idea - both require your full attention. Zmei is right in a way its very tough to do a PhD with a full time job. I started my PhD this way and taken some time off to finish writing-up. It has been a bloody hard process, but it's not impossible. If you enjoy what you doing then it wouldn't seem like more work to you and the time will fly quickly. Just be ready to give up your weekends. Also it will take you at least 5 years to finish a UK part time PhD, but sometimes longer, so you have to have a bit more committed than with a full-time PhD as 5 years or more is a long time and a fair part of your working life. So you have to make sure this is what you really want to do and not just because of a quant job. Also 5 years down the line the quant market could be very different, so you have to make sure you do a PhD because you love the area of research you choose regardless of the financial gains that may result later. If you have any doubts just dont start a part time PhD is my view, you will simply not make it and end up very miserable.Hope that helps.SG
Last edited by StatGuy on August 9th, 2008, 10:00 pm, edited 1 time in total.
 
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Church
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Joined: September 4th, 2007, 10:27 am

PhD + Job

August 11th, 2008, 7:57 pm

I combine a phd with a parttime job and it's great!And because you also work in practice, you can make your academic work more applicable in practice.
 
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quantumar
Posts: 1
Joined: March 26th, 2005, 10:26 am

PhD + Job

August 12th, 2008, 5:56 pm

I finished my graduate degree when I was working too. Even though it's harder to do both at the same time there is also a motivational aspect of applying what you learned in school to work directly. It helps to learn more and motivate yourself to study. If you are planning to stay in stat arb area, make sure you end up working on artificial intelligence, statistics or pattern recognition type of a PhD where you can take advantage of motivational aspects. I wouldn't do pure math or physics unless you are planning to get into structuring quant roles in the future.
 
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goekhan
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Joined: January 14th, 2008, 9:09 am

PhD + Job

August 13th, 2008, 10:24 am

thanks quantumar,This is actually something I thought of as well. The point is for me, it is difficult to find a bank that sponsors a PhD in this field, since these vacancies are not advertised that much.Do you have any idea?thanks
 
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quantumar
Posts: 1
Joined: March 26th, 2005, 10:26 am

PhD + Job

August 14th, 2008, 3:27 pm

I did not hear any bank sponsoring for a PhD, some banks sponsor for masters though. You are very likely to pay for yourself or get a scholarship from the school but it's also though to get full scholarship from school unless you are a fulltime student. It's just not seen as favorable by neither side(bank or academia) so there is really no emphasis on working and getting a PhD at the same time.