<p>*.... how does that square with Interestdad's earlier statement that Deloitte and Goldman Sachs were the two largest employers of Swarthmore undergrads- many of whom, presumably, are econ majors? *</p>
<p>I don't understand the contradiction? Some students get hired by Goldman Sachs when they graduate. Some students persue a PhD. </p>
<p>It is even quite possible for the SAME student to take a job with Goldman Sachs and then get a PhD in Economics, particularly if they get deeply into Economics analysis.</p>
<p>I see that at least one Swarthmore grad this year was hired as a research analyst for the Federal Reserve Board, one by the Fed Reserve Bank in NY, and one by the Congressional Budget Office. I could easily imagine those kinds of positions leading to a subsequent return to university for a PhD. as those are the kinds of "think-tank" career paths that are incestuously intertwined with academia.</p>