<p>So there is a 0 difference between the salary you get?</p>
<p>I mean, I read somewhere that for other majors besides business, there is quite a bit of difference between a MAster's degree and a Doctorate Degree in terms of what kind of job you get and the starting salary.</p>
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I mean, I read somewhere that for other majors besides business, there is quite a bit of difference between a MAster's degree and a Doctorate Degree in terms of what kind of job you get and the starting salary.
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The masters-doctorate hierarchy isn't the same in professional schools as it is in academic graduate schools.</p>
<p>A Ph.D or DBA is NOT a post-MBA degree or even an MBA substitute. It's a completely different track in academia and will not promote you in the corporate world. However, there are math and science Ph.D's who will do back-office research and quantitative analysis, if that's what you want to do.</p>
<p>"However, there are math and science Ph.D's who will do back-office research and quantitative analysis, if that's what you want to do."</p>
<p>Hahaha No.....PhD Quantitaive analysts don't work in the "back-office." The back-office is primarly the operations and support staff.
They interact and work right next to the traders they build models for (the ones who model for risk-management policies can be said to work in the middle office though)</p>
<p>"However, there are math and science Ph.D's who will do back-office research and quantitative analysis, if that's what you want to do."</p>
<p>I agree with foxdie!. </p>
<p>PhD's do not do backoffice work, in fact most are in the front office. Of course, some positions are considered middle office, for those on the risk management side. Those who get PhD's in math/science who want to get into finance generally want to become quant-traders. The skills and knowledge they aquire in programming, mathematics, and analysis are best suited for these positions. To clarify, they aren't trading bonds - they are trading very advanced exotics that require a lot of modelling and analysis. (Many also just do the 'dirty' for the traders that execute.)</p>
<p>These are for the highly coveted positions in institutions...of course one could get by with an MFE (Master's in Financial Engineering) and still trade exotics on a prop desk or hedge fund. Both are highly respected, high paying jobs, but let it be known - the risk is high.</p>