shootermcgavin7
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shootermcgavin7 last won the day on August 5 2008
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In essence, Compustat is a database transcribing financial statements. If you need firm-level financial information, this is the best database you can go for.
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Phd Finance, please evaluate my prospects
shootermcgavin7 replied to koob123's topic in PhD in Business
This is especially true if the goal is theoretical asset pricing/derivatives. Much of the modern corporate finance theory is game theory, although this too is starting to change with the growing popularity of structural models. -
I suspect that with your math background your only real shots on this list are UT-San Antonio, and maybe Simon Fraser. If you mention to these schools that your end goal is to go back to industry, those two options might also disappear.
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- phd finance
- phd in finance/business
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Finance Phd - Chances and suggestions?
shootermcgavin7 replied to aero419's topic in PhD in Business
Are you trying to get into any PhD program, or a PhD program which will let you place into a research school? I think you can get into "a" PhD program, but your math background and GRE scores will hurt you. If you want to research for a career, I would also recommend starting with the Msc option as well. -
Let me offer a couple of other points, some of which have been touched on in some manner. First, on average, your advisors have a much better feel for the job market than you do. They likely sit on recruiting committees (assuming your school has hired in the recent past) and network with people at conferences. If they say you should stay, you probably should. Most students stay five (and even six) years nowadays, if you leave early you lose a year on your tenure clock as well. Second, as already pointed out, your advisors will write your recommendation letters. These are arguably the most important part of your application. If they want you to stay five and you piss them off by disregarding their advice and leaving early, this will significantly affect your job market.
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I am finance so five years is the norm. But sure: First year: easiest and most boring. Almost entirely Econ coursework + menial GRA work. When I am stupid enough to open my mouth and give suggestions I get harder data work. By the end of the first year I have run my mouth enough to be considered as a 190th option as a coauthor for some people. Second year: hardest. No question. In fact, I probably wouldn't do it again. Asstons of difficult seminar series, multiple ra assignments, and more coursework. Research paper and comps welcoming you at the end of it. Also most productive. No question. No life, no question, and almost no wife, no question. Third year: ho hum. Besides that, tied for second year as worst. Same reasons. Fourth year: teaching and proposal defense. Also hit an A pub out of blind luck. Great year. Most stress is off because the faculty generally tolerate me. I can drink beers with them and call them at 3 am. They are frequently happy to return the favor. Essentially you can be an "assistant assistant" faculty if aren't a screw up. Fifth year: job market. Will elaborate if I am employed this time next year.
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Master in Financial Engineering --> Phd in Finance
shootermcgavin7 replied to yellowrose's topic in PhD in Economics
It isn't needed. As the above posters reference, it is more of an applied degree and won't significantly improve your chances. Unless you land some major references that you won't have access to in your current program. -
About to head to the market and I have enjoyed my time thoroughly. There were a lot of nights with 3-4 hours of sleep in between, of course.
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Please evaluate my profile for Phd. in finance
shootermcgavin7 replied to a topic in PhD in Business
I think what the poster is referring to is that the theory in this area is somewhat played out. In the theoretical areas, one can slightly improve some derivative models by adding some industry-specific factor or yield or carrying cost to the traditional models. However, in top journals there is little taste for this research. the state of empirical work is slightly worse than that of empirical asset pricing. -
UC State Funding Reduced-- Effect on admissions?
shootermcgavin7 replied to aecon641's topic in PhD in Economics
Schools will likely adjust in other areas to maintain/attract top faculty. A day after the budget deal passed, UC Davis posted a job listing. -
As you are discussing, OP, potential applicants don't care about the demand now, they should care about the demand five-six years from now. This is virtually impossible to predict. They were saying the same things about Finance PhDs five years ago and the job market now is lukewarm at best. However, if someone enjoys research, go for it. Trying to predict and then worrying about the job market in the future is a fool's game.
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Which Finance PhD programs are more theory oriented?
shootermcgavin7 replied to sj855's topic in PhD in Business
I was going off of my own observations; seeing job market candidates come and go over the past 4-5 years. Elite theorist candidates tend to do better than the most prized empirical candidates, but there tends to be a huge drop-off after that. I don't have placement data, but the world of academic finance is small.....and the number of well-known job market candidates in any given year is even smaller.