Ok if possible I would like to direct this at twofishquant, however if you have any experience please do post. I have seen that he has quite a bit of experience in this area and would really like to hear his opinion. I am going onto second year undergrad from September in Physics, I plan on getting a PHD. So here are my questions, with a PHD in physics what areas of finance are open to me? From what I have seen its basically quantitative analysis but I hear this is quite a broad range of jobs, also what area of physics should my PHD be in to have the most relevance, I see theoretical physics with heavy programming in C++ seems to be quite hot, but in specific what? My last question, will your career take you as far as an MBA for instance? What is the progression like, can you reach the salary of an investment banker and how does your career develop, you start as some fresh off the boat quant analyst and develop into. . . ? Forgive me if that sounds like nonsense but my current finance knowledge is zero. Oh and one more thing, what is starting salary like? I imagine at the start I would have to commute into London or NYC depending on where I work because to finance in-city living comfortably you need like £90,000 or $180,000 respectively. (That is based purely on forum threads I have read through).