I am wondering about the possiblity of getting into a quantatitive role (probably spelt wrong, lucky I am not looking for a journalistic role !!) without a phd. I have a first class maths & physics degree and a M.Scin Financial Maths. with distinction, both from top tier universities awarded with prizes. I have two years experience of working as a risk analyst with a top US bank. My programming skills are quite good - VBA, c++. I have good theoritical knowledge of stochastic processes and interest rate modelling - HJM, BGM etc. I am keen to get into a more quantative role. Is this possible without a Phd. Is it possible to obtain a phd while working ? Would I find it difficult to get into a top university - MIT, Harvard, Oxford etc.Thanks,Jon.

I would certainly recommend learning how to spell quantitative. Depending on what kind of risk analyst you are, you might be part way there already. Speak to your boss, any quants you come across on a day to day basis, get out there and try. Firms are often far keener to develop a good internal candidate rather than go outside - it costs less both in recruitment fees and salary (there is a premium to pay to make somebody change employer). The downside for you is that you don't get the premium yourself, but on the up side you do get a job for which you might not be considered elsewhere. It is possible to work and do a PhD, but I wouldn't recommend it if you can get the job without. Either you'll be on a sponsored programme, or working full time at the same time. There may be people who disagree - ask them about the plus side. To get a place in a good school for your PhD, you'll need good grades. You might also have to look at how PhD places are funded as this is probably more competitive than the places.

Concidering the opportunity to do PhD while working it is worth taking into account that many don't finish there PhDs in time even working full-time on their theses. Unless you are very devoted to the research and work hard you may expect the part-time PhD to take you 6 years or even more.