The discussion centers on a physics PhD student contemplating a career change to increase earning potential. The individual expresses a desire to transition into fields such as quantitative analysis, data science, or finance, while acknowledging the challenges of balancing high-paying roles with personal interests and hobbies. Insights reveal that while a PhD in physics can open doors to lucrative positions, particularly in tech and finance, the path often requires significant sacrifices, including long hours and potential relocation to high-cost areas. The conversation highlights the importance of strategic career planning and the potential for roles in management or software engineering as viable alternatives.
PREREQUISITESIndividuals with a background in physics considering a career shift, especially those interested in high-paying roles in finance, data science, or technology management.
As with many things in life, striking the right balance is key. On the one hand, you don't want to put off some activities until after retirement, just to find out that you are no longer physically capable of doing them. On the other hand, if Present-You burns through too much savings, then Future-You might face an intractable scenario (not be able to take care of the big problem that Present-You saddled him with), and not be able to enjoy a retirement at all.aa said:I don't want to say exactly what my mid-life crisis goal is because it's a bit compromising, but like most it is purely a way to enjoy the remainder of my life. I'm thinking about what to do up til about 60, and not worry so much about money - let the Future Me take care of that little problem. Let Future-Me be servant to the Present-Me for once. That's my current thinking at least, and all this only relates to those lucky enough to have this choice.
When I started my college-teaching career (at a definitely non-elite institution) 40 years ago this fall, if someone had told me that I would have the amount of money I ended up with when I retired (six years ago), I would have thought he was crazy. However, the cumulative inflation factor since then (in the US) has been about 3x.haushofer said:If you want to become a millionaire, you should start teaching. But starting as a billionaire.