why not get a 2nd PhD Finance if the first one is in Physics/Math?

I know people who have done that. Jiang Wang and Bob Goldstein, to mention a couple of successful finance academics. I also know people who started a finance PhD after doing a physics PhD but who diverted themselves into quant jobs before finishing. Probably not how you would plan an education from scratch, but it can make perfect sense along the way.

QuoteOriginally posted by: quantmehwhy not get a 2nd PhD Finance if the first one is in Physics/Math?because it is not needed, unless you want to teach in finance.

QuoteOriginally posted by: quantmehwhy not get a 2nd PhD Finance if the first one is in Physics/Math?Actually, a lot of Math and Physics PhDs apply for Finance PhD because they hear about the $300 K salaries which the Finance professors are earning. The Finance departments do accept some Math and Physics PhDs. They will all end up doing modeling work. Obviously not empirical Finance (prefer Economics / Stats people) or Behavioral Finance (prefer Psychology people).Two key things to keep in mind:1. They will treat you the same as a PhD student who enters the Finance PhD program with a B.S. degree from Stanford / Wharton who is 22 years old. Don't expect any special treatment because you already have a PhD.2. It will still take an additional 5-6 years to get the Finance PhD, even though you already have a Math PhD. The shortest time I have seen is one Romanian guy who took 4 years to get the Math PhD, then immediately entered the Finance PhD program and completed it in 4 years. I think 5 + 5 years is much more common.

QuoteOriginally posted by: traderjoe1976QuoteOriginally posted by: quantmehwhy not get a 2nd PhD Finance if the first one is in Physics/Math?Actually, a lot of Math and Physics PhDs apply for Finance PhD because they hear about the $300 K salaries which the Finance professors are earning. i still didn't see the argument for 'why not' in your post.

QuoteOriginally posted by: quantmehwhy not get a 2nd PhD Finance if the first one is in Physics/Math?I think it is generally overkill. If you have a PhD in physics/math you _should_ be able to get yourself tothe PhD level in finance by some combo of self-study/taking some classes/job experience/research.As a different example, many physics PhD's have moved into biology -- you can find stories on the webabout how they did it. The stories I have seen don't usually involve a second PhD.

QuoteOriginally posted by: AlanAs a different example, many physics PhD's have moved into biology -- you can find stories on the webabout how they did it. The stories I have seen don't usually involve a second PhD.i have many friends in Bio sciences, incl bioinform, mol biology, genetics. I haven't seen a single Physicist among them so far. obviously, my sample is biased, still... even med/bio PhDs are often struggling with employment and/or grants.

QuoteOriginally posted by: quantmehQuoteOriginally posted by: AlanAs a different example, many physics PhD's have moved into biology -- you can find stories on the webabout how they did it. The stories I have seen don't usually involve a second PhD.i have many friends in Bio sciences, incl bioinform, mol biology, genetics. I haven't seen a single Physicist among them so far. obviously, my sample is biased, still... even med/bio PhDs are often struggling with employment and/or grants.Before your time Way before your time

Why not study medicine. You will be contributing something tangible to society. Plus, there are 70 million people walking around with medicare cards, which the government is obligated to pay $17,000 per year per person for medical expenses. It is easy money with no retirement age.

QuoteOriginally posted by: AlanWay before your timemy advisor's first job was in biophysics, where he worked until earning his first condo he likes to tell funny stories about that part of his life, but he went back to nuclear physics as soon as the opportunity came

because it'll feel a bit like going back to high school.

it's not about that it is the 2nd or 3rd or 10'th PhD, it is about that if you are passionate about doing research in that field or not and if you know what exactly you want to work on,doing a PhD to find a job in the market is a stupid idea even if it is one's 1st PhD

QuoteOriginally posted by: startoverit's not about that it is the 2nd or 3rd or 10'th PhD, it is about that if you are passionate about doing research in that field or not and if you know what exactly you want to work on,doing a PhD to find a job in the market is a stupid idea even if it is one's 1st PhDAnd what if the jobs in the market you are interested in requires you to do phd level research?

QuoteOriginally posted by: rmb623QuoteOriginally posted by: startoverit's not about that it is the 2nd or 3rd or 10'th PhD, it is about that if you are passionate about doing research in that field or not and if you know what exactly you want to work on,doing a PhD to find a job in the market is a stupid idea even if it is one's 1st PhDAnd what if the jobs in the market you are interested in requires you to do phd level research?Depends on what you are trying to achieve. Making a lot of money is not equivalent to doing PhD level research.Ask any of these PhDs if they began their PhD thinking that they wanted to work on Wall Street. The most common reason would give doing research for self-satisfaction. Once out of their PhD they figured out that academia was not for them and opted for next best lucrative option - working in Finance. You simply cannot re-engineer the process.The real quants (where PhD is a necessity and not a luxury) in Finance constitute a minority. A good percentage of people are actually utilising Masters level skill-set.

QuoteOriginally posted by: AbhiJThe real quants (where PhD is a necessity and not a luxury) in Finance constitute a minority. A good percentage of people are actually utilising Masters level skill-set.is the differentiation a real factor? if there's too many masters, maybe PhD would give a slight advantage