Academia or Investment Bank

Rajub · November 7th, 2005, 11:20 am

HiI'm a final year PhD studnet in mathematics (related to mathematical finance), and I'm having this big dilema. I like theoretical research very much, and doing it as a job would be perfect. But on the other hand, in ivestemnt banking they pay at least twice as much as at a university position. Doing practical tasks I don't mind, but its not my preferred work.Now the dilema is what to go for, an academic position or a position in an investment bank. In case you have a similar dilema, or had one ans solved it, please share it with us.Rajub

TraderJoe · November 7th, 2005, 11:25 am

If you're really good at math, stay in academia - the corporate world will literally kill you. If you're so so in math, join the rat race and make a fortune!

Rajub · November 7th, 2005, 11:34 am

Thats what I was afraid of. I have some friends in banking and they are encourageing me to join them. From the profesional point of view one gains vary valuable knowledge, which on does not get in university. I haven't heard the term 'rat race' before. Could you guide me a bit on what is it. Thanks.

TraderJoe · November 7th, 2005, 11:53 am

Rajub, a good question. The proverbial rat race is the one whereby one joins all one's fellow rats and races for the biggest bit of cheese one can find. Other euphimisms for the working world in the West is the "treadmill" (as in a hamster running on its little wheel in its cage - I'm not cynical), and "a dog eat dog world" whereby one guards one's back rather closely and at all times. In fact its not all as bad as this and at times infinitely worse. Go figure. If & when you leave the Ivory Tower, I'm sure all of this will become alot more clear to you.

DominicConnor · November 7th, 2005, 1:29 pm

Some people do consultancy of course, but you need to have a good "story".That allows something midway between the two.Also it is the case of course that teaching math/finance is quite lucrative within academia, hell what you could do is teach finance, write a book about it and become a headhunter... But more seriously, it's a personality thing. Some of the most structually miserable people I know are academics.If you've got friends encouraging you in, then talk to them about some sort of internship. Then you can make a better judgement.