PhD in Economics

Quote from WallStGolfer31:

I'm an undergraduate at a US university. I now plan on getting my PhD afterwards. Most I have found have the masters programs embedded within the PhD program. I've given it alot of thought, and I think this would be what I would find most enjoyable. (I'm majoring in finance and economics minor in mathematics, I was torn). I'd be looking for a position with a private firm, not really interested in government or academics.

I wanted to ask you guys here your advice. Crazy plan? No job market? or does this seem valid?

I've looked, most major banks hire PhD economists, so does GM & Ford and other auto makers, along with numerous consulting groups, and so do private economic forecasting firms lol. I guess If all else fails I could go back and teach lol, professors make like 80-100k a year in this field (at least they do in my school).

But I'd be looking to get into one of the big banks and work along side PM's.......
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Can we get back to this young person's original and well articulated question? Do you guys have anything useful to say about that? Or, else...:)
 
Perhaps you should seriously consider working for GM. It has hundreds of Phds working flat out. The scuttlebut says they are working on a new very hush-hush product. It is rumoured to be a car with only one wheel LOL
 
Quote from Humpy:

Perhaps you should seriously consider working for GM. It has hundreds of Phds working flat out. The scuttlebut says they are working on a new very hush-hush product. It is rumoured to be a car with only one wheel LOL
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Yes, I heard about this project - it's a square wheel for added stability and more efficient storage.

:) :) :)
 
kind of pointless to get phd unless you seriously plan on teaching....the time spent in school can spent working your azz off and networking
 
Quote from otcstockfund:

kind of pointless to get phd unless you seriously plan on teaching....the time spent in school can spent working your azz off and networking
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You can't be an economist unless you get you're PhD.
 
Maveric says >

"You need contacts, you need connections. It's no different in this business then any other business. A lot of guys on here just don't understand that"

Mav, The key is as u say.. its like any other business... sales is a big part of it. how many brokerage firms, how many SALES calls, are the wanna be managers doing? one must see the big picture. those with "trader tunnel vision".. unless they can bootstrap themself up to large equity, are stuck small time... forever.

Great personal example... I met a young fund manager, who took fund from less than one mill to 35+ million in two years... i met him when he was doing a SALES call!! he got sales brokers behind his program, developed contacts, created relationships... he has a platform that is working, because he is a businessman, not "just" a trader. he rided an assistant to do his trading early on, he focused on the building the business. didn't even do his own programming! I see no reason, given even decent results in the program, he cant get several hundred in 3,4,5 (or less??) years.

A good salesman with almost zero knowledge of trading can raise millions in equity!! finding and developing relationships like this, it makes a bid diff.. Tunnel vision keeps many out of the loop.
 
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