Econ phd for non academic career

**ekonomiks** · 07-03-2007, 10:47 PM

Finance professors make more money than economics professors. But one must not confuse finance professors with finance PhD's. In fact, there are perhaps more finance professors with econ PhD's than with finance PhD's. At least, that seems to be true at the top schools.

**jjmann** · 07-04-2007, 04:33 AM

I actually agree with what Bayern said, and I am not an econphd. But I dont think the finance phds will agree anyway.

**jjmann** · 07-04-2007, 04:48 AM

Sometimes, demand and supply curve does not represent everything. That is why there is still space for qualitative research. The data might say that finance phd is as competitive as the med schools, but we should understand that usually the top students "aspire" to go to med school. The same also works for econphds. Those who do not agree with me do not need to post another comment, because you have already made your point. For me, according to the profs my profile is not strong enough for top econ depts, that is why I am applying for finance phds. And why do I think I will be able to get into finance programs? because that is what the profs in finance dept adviced me. They acknowledge that econ phd is more competitive than finance, so I would have better shot at the top 30-40 schools in finance. Again, someone disagreeing does not need to give a strong comment against it. This is just what me and my profs of both econ and finance believe.

**dwigt** · 07-04-2007, 05:45 AM

Originally Posted by ekonomiks

Finance professors make more money than economics professors. But one must not confuse finance professors with finance PhD's. In fact, there are perhaps more finance professors with econ PhD's than with finance PhD's. At least, that seems to be true at the top schools.

The percentage of finance professors who are economics phds doesn't determine which type of PhD earns more. Only a small percent (<20% I'd guess) of Economics PhDs are given finance assistant professor offers. Otherwise, they make significantly less. Finance phds typically either accept finance assistant professor positions or go to industry and make roughly the same or more. (There are some exceptions, such as Feds, but the salary here is the close to the same as econ academic offers)

**ekonomiks** · 07-04-2007, 04:19 PM

Originally Posted by dwigt

The percentage of finance professors who are economics phds doesn't determine which type of PhD earns more. Only a small percent (<20% I'd guess) of Economics PhDs are given finance assistant professor offers. Otherwise, they make significantly less. Finance phds typically either accept finance assistant professor positions or go to industry and make roughly the same or more. (There are some exceptions, such as Feds, but the salary here is the close to the same as econ academic offers)

That's a fair point. It'd be useful to know what percentage of econ PhD's with a finance specialization became finance professors.

**gangstarap** · 07-10-2007, 11:36 PM

Originally Posted by jjmann

according to the profs my profile is not strong enough for top econ depts, that is why I am applying for finance phds. And why do I think I will be able to get into finance programs? because that is what the profs in finance dept adviced me. They acknowledge that econ phd is more competitive than finance, so I would have better shot at the top 30-40 schools in finance

What does "top econ departments" mean? I wouldn't classify the top 30-40 Econ or Finance departments as "top departments" anyway...

Not getting into Harvard or MIT for Econ PhD, but then getting into Arizona State for Finance PhD doesn't equate to Finance PhD admission being easier, dude. You should compare schools at the same level in the rankings...

If you can get into a Top 30-40 Finance department, you can get into a Top 30-40 Econ department as well... your profs are wrong if they say you can't, and so you should apply for Econ if that's what you're really interested in...

**jjmann** · 07-11-2007, 06:23 AM

gangstarap, i was comparing the schools at the same level of the rankings. And from what i was told, it is not necessarily true that if you can get into top 30-40 finance dept, you can get into a top 30-40 econ dept. I personally know of a student who got rejected from all the top 10 econ schools he applied, but got in a finance school in the top 10 in finance (and its an ivy). So clearly i have to disagree with you and agree with my profs who are definitel more experienced and knowledgable. And you are also a relative newcomer to TM like me. So I definitely believe their advice is more reliable and CORRECT

**gangstarap** · 07-12-2007, 04:35 PM

I am a newcomer to TM, like you. However, unlike you, I have already gained admission to Top 10 Finance AND Econ PhD programs. I know what I am talking about, and I believe my advice to be CORRECT.

**gangstarap** · 07-12-2007, 04:38 PM

Originally Posted by jjmann

So clearly i have to disagree with you and agree with my profs who are definitel more experienced and knowledgable. And you are also a relative newcomer to TM like me. So I definitely believe their advice is more reliable and CORRECT

I am a newcomer to TM, like you. However, unlike you, I have already gained admission to Top 10 Finance AND Econ PhD programs. I know what I am talking about, and I believe my advice to be CORRECT. Keep fighting it, champ...

**jjmann** · 07-12-2007, 06:18 PM

Its great that you got into the top 10 in both the programs. This shows that you are a very good student and your achievement satisfies both type of schools. Let me say this again, you did everything to satisfy everyone. So you are kind of the ideal student in social science who got in both types of program... por favor, el señor bear with me.

Now tell me how did your accomplishment show that finance and econ phd programs are of the same competitive level. If you had been accepted from same type of school and rejected from same, then we would have been the case. But you are kind of the ideal case, and an outlier to calculations

If you had come to me and said, "Hey, I got rejected from the top 10 programs in econ and finance, but got accepted in schools 10-30 in both types of school". Then, my friend we would have a case. Also what do you have to say about my example (given all my respected econ and finance profs are dumb except you), I didnt just manufacture it from thin air. So, my friend, your example doesnt necessarily prove anything. If you still dont believe me, send me a msg, rather fighting in the public. I should also say that I am not some econ maniac who thinks of econ as a holy subject. I dont have any problem with them being in thee same level (in fact I will be happy that I could apply to some good econ programs