Should I go to this school for a PHD in finance?

Question

Hello

I have been thinking about this for long.
I got the only offer in the finance PHD program of a school in Canada. It has a good reputation as a whole and a good MBA in Canada. However, It is relatively weak in research compared to such B schools as roman , UBC, and Mcgill. I am currently working as a senior analyst in a bank. Should I quit and go for the PHD? It seems that it will be hard for me to find an academic job after I get my PHD( if I can) out of this school from the research reputation's perspective. If that is the case, how much help is the finance PHD for my future career in industry? I am already 37 year-old.

Any ideas?

Thanks

air1980 · Answer

This is a tough one. I am not sure which school you are referring to, what province is it in?

I guess it depends on what you are looking for afterward, even a lower tier research university can place you at a teaching university. The quality of life is quite good and the pressure (so long as you can survive the teaching part) is low.The salary, would likely be around the 100K mark for a place like that.

Good luck.

dongsoong · Answer

it's Queen in ontario

cabro57 · Answer

What's your ultimate objective? Queen's is a good school.

dongsoong · Answer

I want to switch to academia.Queen is a good school overall. But its finance research is weak.

air1980 · Answer

My thoughts are that from Queens you could get a job at an average university in Canada. By this I mean, you will likely not get a Job at UBC, UofT, (it is not impossible, but unlikely ) but places such as U Ottawa (just off the top of my head) and others (or the equivalent in the US) in Canada would be more than possible.

Good luck.

BTW, I think Queens has a fairly strong econ department, which is an asset as a finance student.

Good luck.

BTW, I think Queens has a fairly strong econ department, which is an asset as a finance student.

cabro57 · Answer

I guess that bears repeating -- what's your ultimate objective? Of your if you apply for a PhD program you want to switch to academia; the question is what type of academia?

dongsoong · Answer

I want to publish papers in the leading journals with contribution to finance.

air1980 · Answer

If you want to hit top 3 finance journals, you had better wait and try to get in somewhere else. There is nothing wrong with Queens, it is a good school, but if your goal is JoF, JFE and RFS, you need to end up at a school that has a strong research culture. This is not likely (but not impossible) if you graduate from Queens.

Just my 2 cents.

Just my 2 cents.

dongsoong · Answer

The thing is that I cannot wait to reapply due to my age. And also I am less likely to leave Canada for a degree for 4 or more years.

dongsoong · Answer

And, I don't only aim at the top 3 journals because my research interest is to try to apply market friction to financial market(fixed income,equity...) and real problems(hedging, risk management...) journal of financial market...is OK for me.

air1980 · Answer

Well if age is a binding constraint and you don't have any other options, then go to Queens (if you really want to do a PhD). As we have said it is a good school, certainty good enough to get a 'good' job. Good luck with your decision.

cabro57 · Answer

If your research is good, there's no reason why you wouldn't be able to publish in that type of journal, and get a job at a place like York, Concordia.. The only question is whether any of the faculty members at Queen's have any interest in the topics you brought up. If they don't, that could be a real problem, but if they do, I think you should go for it (unless you give up the PhD idea altogether) -- regardless of how weak you think those guys are, I'm sure they could blow you away on their turf.

Should I go to this school for a PHD in finance?

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