amrodfelafas Posted August 12, 2017 Share Posted August 12, 2017 I'm a recent college grad ready to apply for PhD programs in the fall. I have my 3 rec letters, my GRE, and I think I have a shot at a school at least in the top 10. The one caveat is that my goal in getting a PhD was always to work eventually at the Fed, the IMF, the World Bank, or as a research economist in the private sector -- i.e., to do econ research, but not strictly as an academic. But some people I've talked to on the PhD track have told me that in order to be successful as a PhD student, I should really want to be a professor in the LR -- especially considering the 5-7 year-long commitment that is a PhD. Do any of the current PhD students on the forum have a perspective on this? Is anyone in a PhD program with similar goals in mind? Quote Link to comment Share on other sites More sharing options...
Kaysa Posted August 13, 2017 Share Posted August 13, 2017 There is nothing wrong with getting a PhD with non-academia in mind. You need a PhD to get the best jobs at the IMF, World Bank, and Fed. A masters is all you need for industry. Although I ended up in academia, it was never my goal when I entered my PhD program. I originally wanted to do what you want to do. Quote Link to comment Share on other sites More sharing options...
CanadianEcon Posted August 19, 2017 Share Posted August 19, 2017 yes, if you want to work at the Fed, the IMF, or World Bank a PhD is usually required for senior/ research positions, although I assume they have many without PhDs working in other capacities alongside. I've noticed the BOC often will hire either a PhD or masters graduate with X years experience. Outside of these few career paths I wouldn't recommend a PhD, a masters and CFA or another professional designation would be valued more and is more cost effective. As a last note, im sure you already have, but, i would recommend reading into what its like being a PhD student and if the life style is for you. Quote Link to comment Share on other sites More sharing options...
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