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Anyone else concerned about all those unemployed finance people?


piffle_dragon

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John List of UChicago started this thread in October: http://www.www.urch.com/forums/phd-economics/102935-thoughts-upcoming-market.html

 

He is also (more) concerned with top undergrads who would normally go into finance choosing to go into EconPhD programs. My opinion was that it's too short a time window since the worst of the shocks (beginning in Sept.) for these people to prepare quality applications, and that PhD would not be the next choice of many of these people. One immediate observation is that I haven't noticed a mass of such people on this forum yet!! (But if you are lurker who is an unemployed finance person or someone deciding to pursue EconPhD within the last couple months, please let us know!!)

 

What would concern me more though is the prospect of schools reducing (or being more conservative with) their class sizes/funding etc. because of budgetary issues, the tight state budgets of public schools and the falling endowments of private schools. I feel this is going to a bigger issue (or more first-order) than crowding out due to those leaving the finance sector.

 

Anyway, come March, we can get some data points on entering class sizes, and on whether fellow admittees are unemployed finance people, and start to figure out who is right here.

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we shall fight in the GRE centers,

we shall fight with growing confidence and growing strength in quantitative methods,

we shall defend our ivory tower, whatever the cost may be,

we shall fight at the fly-outs,

we shall fight in our sob-story essays we write to get funded,

we shall fight in our flimsy claims to Native American ancestry in our diversity statements,

we shall fight in the online PDE classes we take at the zero-hour in order to sure up our profiles;

we shall never surrender

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we shall fight in the GRE centers,

we shall fight with growing confidence and growing strength in quantitative methods,

we shall defend our ivory tower, whatever the cost may be,

we shall fight at the fly-outs,

we shall fight in our sob-story essays we write to get funded,

we shall fight in our flimsy claims to Native American ancestry in our diversity statements,

we shall fight in the online PDE classes we take at the zero-hour in order to sure up our profiles;

we shall never surrender

 

I laughed at this and then felt deeply ashamed of how big of a nerd I am.

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I laughed at this and then felt deeply ashamed of how big of a nerd I am.

I long ago suspended any shame from being amused by such things. If I hadn't, I wouldn't be able to face the world on a daily basis.

 

http://www.phdcomics.com/comics/archive/phd053007s.gif

http://www.phdcomics.com/comics/archive/phd070408s.gif

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Oh man I wanted to post that same graph...anyway I liked that part when we make flimsy claims to native American ancestry lol...

 

On the topic, I agree with Golden Rule as we both posted in the same vien on the JList thread. I think it is not enough time to pack that CV and get those LORs for most people. Maybe next year we will get a lagged effect...

 

Then again, Professor List is actually at the recieving end and has a better idea of just how good (and large) the applicant pool is this year.

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