Even though I am wait-listed at UMN and becoming an economist has been my goal for many many years, I sometimes start having emotional outbursts and start wishing that they reject me so that I don't have to make some very hard choices. My significant other and the person with whom I have been obsessed for over a year already told me that she does not want to take our relationship further because she has no plans to leave this city, her career is here. Is she too selfish? I don't know. Her culture does value a successful career a lot. I am so sad. I don't know what to do. I feel that by opting for a PhD, I will be forfeiting my best chance to being happy. At the same time UMN is the best chance of reaching the goal of my life. It'd be an honor to attend their program. In addition, getting into the Economics Ph.D. programs at the nearby universities next year is hopeless (they already dinged me). Besides losing her, going to UMN means leading a sad, poor, quiet, and lonely life of desperation for many years. I fear that even if I succeed in obtaining a Ph.D. I'll be 30something, single, and at the bottom of the economics job market food chain. Another fear is that no interesting woman in her early 20s would want to date me at that point, or at least my choices will be very limited. What should I do? I am also applying to some terminal Masters programs in quantitative finance which seem like a good compromise. She said that she could wait for me if it could take just one year. I am sure there are quant jobs in this area. It almost seems like a miracle that this wonderful person _and_ UMN haven't rejected me yet, but I known I can't have them both :-(
I already thought about the possibility of applying to Ph.D. program nearby AFTER I become a quant and I concluded that it will be too late to start a PhD then. I'll be relatively old (1-2 years older), with a huge education loan, and I won't feel like working on a degree until I am 35.