Is a PhD Worth Pursuing After My Master's Degree?

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Discussion Overview

The discussion revolves around the considerations of pursuing a PhD after completing a Master's degree in mathematics, particularly in relation to career opportunities in academia and the financial industry. Participants explore the implications of continuing education versus entering the workforce, as well as the potential long-term impacts on career paths.

Discussion Character

  • Debate/contested
  • Exploratory
  • Technical explanation

Main Points Raised

  • One participant expresses concern about financial burdens associated with pursuing a PhD immediately after their Master's, weighing options between continuing education and entering the workforce.
  • Another participant shares their experience, suggesting that obtaining a PhD can provide more career options, especially for those interested in academic research, but acknowledges the significant time and energy commitment involved.
  • A different viewpoint suggests that while a PhD may enhance earning potential in the financial industry, it did not significantly broaden opportunities for someone not pursuing an academic career.
  • One participant advises that if one is already engaged in academia, it may be beneficial to continue towards a doctorate, while cautioning that transitioning back to academia later can be challenging due to life changes.

Areas of Agreement / Disagreement

Participants express a range of opinions on the value of pursuing a PhD, with some advocating for immediate continuation of studies and others cautioning against it based on personal circumstances. There is no consensus on whether a PhD is definitively worth pursuing, as perspectives vary based on individual career goals and life situations.

Contextual Notes

Participants mention various personal circumstances, such as financial obligations and career aspirations, which influence their views on pursuing a PhD. The discussion reflects a diversity of experiences and opinions without resolving the complexities involved in the decision-making process.

leon1127
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I have been thinking a lot about this lately. I am a master student in maths. I will get my master hopefully in spring next year. After this degree I should be able to get a decent job in financial institution. As you might know, financial industry demands MS or PhD degree from their applicants. So I don't worry about getting a job after PhD.I also like doing maths very much. If I continue, I will study Variational Analysis, Stochastic Analysis, Ergodic Theory, etc. Something related to optimisation and probability.
The following are my "options":
1. Go on right after my master. I will try to get accepted by school in Northeast region because of their reputation in probability and applied maths field. This problem is that I have quite a bit of loan from my undergrad and this master degree. 4-5 years of PhD might cause some financial problem (I believe money should be spent at where is worth it.)
2. Work in industry, pay for my load, and go back a few years later. But I am afriad that is too late when I lost my interest in academic.
3. Not getting one at all. No actually cost but I might end up doing very routine work in the industry.

Other options or detailed opinions are welcome.

Leon
 
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a phd gave me a lot more options, especially since i wanted to do academic research.

getting one did not get any easier as i git older. it requiures a huge outlay of time and energy. young people have an advantage. it is very hard to go back and get it later.

it was perhaps the hardest thing i ever did.
 
Ditto mathwonk. For one thing, even if your motivations are primarily financial, if you ask your mentor in the financial industries (do you have one, don't you?), I am fairly confident he/she will tell you that math Ph.D.s have a much greater earning potential in that industry. More generally, if you poke around the website of the AMS, somewhere I bet you can find a document which addresses the question in the title of this thread, and gives the answer: you shouldn't postpone it.
 
Agreed...

A PhD didn't open up too many more oportunities for me since I wasn't planning on an academic career. If I was going to do it again, I'd work on a degree part-time and let my let my employer foot part of the tab it that was available.
 
If you're settled into academia and accustomed to the grind, stick with it and get the doctorate. If you get out into the business world, and get a career (and/or a family) going, you may find it tough to rearrange your life and get the advanced degree later.
 

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