Career path out of UT Austin or similarly ranked school

[njskatchmo2]

I have to decide between an econ PhD at UT Austin or a JD at a top law program. For someone with an interest in applied micro (public finance) and antitrust, what are the career prospects for someone graduating from UT Austin (or a similarly ranked program) especially in the world of consulting and government. This is not just about placements, but rather long term career potential.

[njskatchmo2]

I figure someone must know something about this, or are we all just applying without any thoughts passed initial placements?

[setsanto]

Well your question is a little bit difficult to answer. If you're asking "is it possible to go into consulting or government with a PhD Econ", then the answer is yes. There are a lot of PhD economists that go into consulting and government (see, for example, UT's placements). If you are asking "will I get a job in consulting or government", then the answer is no idea. It depends on too many unobservables.

 

You have to remember that almost all unemployment among PhD economists is frictional, and that one of the benefits of the degree is that your possibilities are very open ended. There are job opportunities in research institutes, governments, central banks, consulting firms, investment banks, and, of course, universities. If you work hard in a decently ranked program (such as UT-Austin) and you are somewhat personable, you have a good chance at ending up in economic consulting or in public policy.

 

Given your specific interests, industrial organization is a pretty cool field, though I'm sure you already knew that. Organizations like the FCC and the DoJ (antitrust division) are always hiring economists in this field.