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Good Reasons to go for a Ph.D in Business

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Good Reasons to go for a Ph.D in Business [#permalink] New post 11 Apr 2004, 16:53
1. You are good at mathematics. Especially, if you want a finance ph.d, i am talking linear algebra, differential equations and brownian motion. if you have a math or physics or engineering major, you will be a strong candidate. Plus, if you are good at math, rather than spending all your time learning math, you will spend more time learning about applications of math to your research. You might be able to complete your research faster and publish it.

2. Research Experience. if you completed a masters thesis in your masters, you will atleast have a faint idea about what it would take to do a original piece of research. if you dont have research experience, it wont hurt too much, but you will need to study some papers in your field to get a better idea of a good dissertation.

3. You CAN survive on the stipend for atleast 4 years. this is a big question for most students. if you are married and your spouse is earning , it is a big relief. On the other hand, schools generally provide generous stipends. Some schools will offer teaching appointments in the third or fourth year and that brings in more money. the bottom line: it will help if you have some savings before you start your Ph.D.


These are only some of the Top reasons. feel free to add to my list
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 [#permalink] New post 25 Apr 2004, 03:25
Hello Anupag

Would you like to add to the above list.?

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Praet
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Why PhD ? [#permalink] New post 25 Apr 2004, 04:07
I could add as follows

1. INTEREST - you are really really interested in teaching, learning and discovering. This is perhaps the most important since it will keep you in the program.

2. CAREER - The academic career is one of the better alternatives for a high quality of life. The academic schedule allows you to take time off - In summers, you can go bungee jumping or visit pyramids in Egypt or even visit your home country. There are also sabbaticals - you go to work in industry or teach in another university.

3. FUTURE - Business schools and their MBA programs as well as Exec Education programs have very high demand and this will continue. The second point is that very few people go in for doctoral studies in business. One only needs to look at response to this thread at GMATclub to know the interest levels in PhD programs. Therefore --> there is a strong demand for Ph.D. graduates.

4. SALARIES - in US and in Europe - but not in Asia - are often higher than post-MBA starting salaries.
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 [#permalink] New post 25 Apr 2004, 04:21
Yes, i agree.

i have a question

I have an option of Ph.D in Industrial Engineering ( almost like a Ops Ph.D). Plus i can finish the degree within 2-2.5 years beyond my masters in IE.

Some profs i have talked to say that IE Ph.D is probably the closest to Ops and thus would be a good option. My masters thesis is in supply chains and i have the option to do some research in financial engineering too

your comments please? Should i try for a Ops. Phd in that case? i will take another 4-5 years for that.

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 [#permalink] New post 25 Apr 2004, 04:51
Wow. I am not the right person to answer that very tough question. As far as Ops go, your Profs are right of course. Many schools (Carnegie Mellon for example) have straight Industrial Engineering PhD's and yes, the PhD curriculum at your current school will be much less. But, I thought you were going in for a Finance PhD !!
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 [#permalink] New post 25 Apr 2004, 05:20
Yes, I was interested in doing some work in stochastic programming in finance. But I did not get into the schools i applied to. I might try again next fall at other universities that i could not apply as the deadlines had passed.(took my GMAT in Jan).

I always have an option of continuing my IE degree and doing some work in operations and financial engineering too. I didnt say i was going for a IE Ph.D. I was looking at this option as i did not get into any finance programs. I know its nowhere near a Top school Ph.D, but I might save three or more years and can still do some work in finance.:)

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Praet

PS: Universities like UF (Gainesville) and Columbia offer a IE Ph.D with a concentration in financial engineering/quantitative finance.
  [#permalink] 25 Apr 2004, 05:20
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