Finish MSc in Physics, work for 3 years in finance, do PhD?

[Stalafin]

Currently I am doing my MSc in Physics with a focus on Condensed Matter Theory. I have about one more year to go, after which I will have to decide how to carry on. By the time I finish my Masters I will be 23 years old.

This summer I will do a well-paid internship in the financial sector at a firm that is doing consulting in the areas of risk assessment and financial mathematical modelling.

Now, in case I like the position, I am strongly considering going into the industry for a couple of years of work experience. The entry salary is quite good, with a nice annual increase in salary as well as a bonus payment (depending on the firm's performance). There is also the option of making partner in 10 years time.

I can't deny that the money is one of the reasons I am in for this, but also I am intrigued by the chance to work in a rather mathy environment (I guess "Quant" is what you would call this?). The firm has projects dealing with complex models and option assessment. So this is not too removed from what I am doing now...


But my question is: is it at all possible to have a couple of years of work experience in this sector and then do a PhD thereafter? What I am referring to is a PhD in (theoretical) Physics, not Finance.

Do you have experience with this? Or do you know people who attempted something like this?

 

[Stalafin]

Since I did not receive any reply yet albeit this post having 62 views, I will put my question differently:
1) Are there any significant advantages of obtaining a PhD first and then going into industry, assuming one would get a job either way?
2) Is it feasible to return to academia having worked in industry (given that I am willing to go back)?

 

[twofish-quant]

But my question is: is it at all possible to have a couple of years of work experience in this sector and then do a PhD thereafter? What I am referring to is a PhD in (theoretical) Physics, not Finance.

Highly unlikely. The problem is that after three years of work, you will likely be too far removed from academia to want to go back. If you want to get a Ph.D., it's better if after the summer internship, you finish it up and then go get it done.

 

[twofish-quant]

1) Are there any significant advantages of obtaining a PhD first and then going into industry, assuming one would get a job either way?

Yes. You have the Ph.D., and it's likely that the thing that you studied will have some application to industry. Also, the physics Ph.D. system is just not set up for people coming back in the system.

2) Is it feasible to return to academia having worked in industry (given that I am willing to go back)?

It depends on what you define as academia. If you want to teach people, community colleges and the University of Phoenix are always looking for adjuncts, but it's best if you view this as paid charity work. I do know of one or two particle physicists that went into finance and then ended up teaching in a B-school.

 

[sfs01]

Would say after 2-3 years you probably still have a decent chance of getting back into academia, if you keep in contact with people and really want to.

But the problem is more that there is a good chance you won't want to go back at that stage anymore, 2-3 years is also often the time when you start getting more established at work, get given wider responsibilities/more pay, if you're sufficiently good, so there are quite a few incentives not to go back.

I know quite a few people who went exactly this way, started working with the certain intention of starting a Ph.D after a few years, but then didn't ... not because they couldn't but because it just didn't make sense for them anymore.

 

[Stalafin]

And how did they feel about that?