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shootermcgavin7

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Everything posted by shootermcgavin7

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. It is as important as you think it is, and then some. That said, your post refers to "teaching" at various tiers. It is not particular difficult to jump tiers to "teach", but it is exceptionally difficult if you want a tenure-track research position.
  7. If you are interested in empirical work, OOP like c++ will mostly help in learning statistical software packages. Other than that, not much.
  8. 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.
  9. 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.
  10. 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.
  11. 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.
  12. 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.
  13. 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.
  14. 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.
  15. The reason is that outside of the very top of the market (e.g. Top 10) there is very little demand for PURE theory. Thus, a lot of pure theorists who strike out at the top 10 can fall 50+ spots waiting for as much as a campus visit. A good empiricist may have fewer top offers on the job market, but there is less variance in the job market outcome.
  16. At most schools, there is always a reputation one way or another, given the "famous" (or "best known") faculty at the university. For example, Emory is a great school, great program, great faculty, yet corporate people go there to die. Outside of the Whartons and Stanfords, there will at least be some sort of slight specialization. Best guess? Ask the PhD coordinator.
  17. Most top 15-20 have theory people in almost all fields. Most schools in the top 50 (all 85 of them) have theorists, but not in all fields. You can do theory at any of these schools as long as one (published) professor is working in the area. The biggest problem is that the job market is very tough for theorists.
  18. I am curious; what criteria did you use to select schools?
  19. A lot of theorists like it because, for a long time, it was the easiest way to write complicated mathematics formulas. Now that Word has the math formula add-on, along with the PDF converter, you don't really need it, especially if you do mostly empirical work. However, someone who has been use LaTeX for 30+ years can still write the math formulas a lot faster than plugging them through Word.
  20. Unless you are doing asset pricing theory, both matlab and LaTeX are, on the margin, a waste of time. Most other areas of finance get by fine with SAS/Stata + MS Office.
  21. If UIUC still does the NetMath program it is pretty good.
  22. I am a fifth year PhD student about to go on the job market, so my application profile will be six years old soon. I had taken Real Analysis and a couple of Econ PhD courses at the time of my application, though.
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