<p>Hey, I'm only in high school so perhaps some would say this question is premature but I really thoroughly enjoy math + finance for like ever and so I always assumed Wall Street was where I should go. Because I like math and economics so much I wanted to do a PhD in either maths or in maths + economics. I don't want to do a Science related PhD but as I said above a math or math + economics PhD. Which PhD and university would look best for Wall Street? Because I'm really confused. Is it called a doctorate in econometrics or finance math or what? And what universities specialize in it? I always thought it would be Wharton, Harvard, MIT, Princeton but I heard Carnegie Mellon was great for it so I have no idea...</p>
<p>This is still wayyyyyyyyyyyyyyyy toooooooooooooo earlyyyyyyyyyyyyy.
You havn't set foot in college yet (or graduated high school) and worrying about PhD programs and what jobs they can get you. Worry about PhD programs junior year of college. Worry about exit opportunities after your 4th or 5th year as a PhD.</p>
<p>Having said that, do you want a PhD in business, economics, or applied math (you won't know this answer for a few years)? Whether you go to Wharton, Harvard, Chicago, MIT, CMU, etc. it really wont make <em>that</em> much of a difference in the grad scheme of things for getting into a good BB on wall street.</p>
<p>It depends on what you want to do. If you just want to do Ibanking, a PhD in Math would be a waste of like 6 years of your life. If you are looking into Quant Finance then a PhD is almost a must, but don't worry about that until you are in college, take upper level math classes and still like/understand them.</p>
<p>It is waaay to early to be thinking about a PhD. Go to university and major in Finance, Economics or Math and as you progress, try a gradaute class or two. If you are still interest at that time, then look at graduate schools.</p>
<p>Okay, thanks guys. And just for the record I'd like to do Quant Finance but to be honest the only reasons I chose that was:</p>
<p>1) I know it involves math and I enjoy math and I wasn't sure banking can fulfill my interests in math fully
2) They both (Regular ibanking and quant) include my passion for economics (I am assuming Quant does...)
3) Quant pays more (They both pay more then enough so thats not a real consideration)
4) Quant jobs are more secure - Thats a huge reason as I'm a hugely neurotic guy and I'd be kinda freaked out I'd panic too much (Not sure though as never been in such a scenario)</p>
<p>So does Quant incorporate finance as well? And btw, what does BB stand for? Big bank? Or like bulge bank? Either way I'm guessing its like Morgan Stanley, Goldman Sachs etc...</p>
<p>BB=Bulge Bracket: Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, Credit Suisse, Citigroup, Deutsche Bank, J. P. Morgan & Co., and UBS.</p>
<p>you don't need a PhD for quant finance. you'll be fine with a 1 year masters degree in financial engineering/mathematical finance. It teaches you all you need to know for quant trading, structured finance etc. I heard that PhDs were a requirement for quant positions in the past, but that changed after programs in financial engineering/quant finance started being offered</p>
<p>So you just need a 1 year masters in math finance/finance engineering?</p>
<p>I believe you but that seems too good to be true for a 300,000 dollar job which is more secure then a regular Ibanking job I assume? I guess the hard bit is getting into a top school for it? Will that cover the computer side as I don't know much about computers to be honest? </p>
<p>Would a PhD boost those chances though? Because in such a competitive market you'd think getting a MBA or a PhD would at the very least augment it...</p>
<p>I have no idea honestly though but basically I'd like to get a great job at Wall Street because of my love for economics and math and the money (I feel really bad saying that) and I always thought a math PhD would be the best way to guarantee the job plus I'd enjoy the math. </p>
<p>So I need a MBA with an extra year for math finance and I'm good to go to be a quant? What degree do the quants at BBs get generally? </p>
<p>Really sorry for all this..Hopefully this thread helps others in my shoes...</p>
<p>Don't forget that to get into those masters programs for Fin Eng/Comp Fin/Math Fin it is really difficult. Getting accepted is by no no no means a walk in the park. I think a lot of the top programs are like 10% admissions, and thats including those who already have PhDs. Its some really qualified people you're up against, so don't necessarily think its easy. IMO though, a PhD is still generally wanted, though a masters can suffice in most circumstances.</p>
<p>As C-Revs said, getting into one of the top PhD Math/Economics programs such as Harvard, UChicago or MIT, is quite a feat in itself. Often the applicants to such programs want to go into Academia and therefore have impressive publishing or award records (Putnams) and it will be pretty stiff competition.</p>
<p>If you are looking for a PhD program that is tailor made for Wall Street, try Princeton or Cornell for a PhD in Financial Engineering.</p>
<p>You'd think so as Wall Street is considered a more desirable profession by most. What really are the ECs that PhD applicants are recommended? Does one need anything for it apart from GPA and math scores? </p>
<p>You get published by performing research at a high level and discovering new things. A high schooler doesn't know enough math to publish anything in Math, Econ, or Finance.</p>
<p>I would suggest the earliest you'd think about it is Senior Year of College for most people. The math is just too high a level and there are too many courses to take beforehand. (This is not true for the geniuses I guess... but that's just a case on its own)</p>