Tuesday, May 22, 2012

Some interesting info about PhD applications, from online sources (may or may not be accurate).

From the link: http://www.urch.com/forums/phd-economics/70622-mba-phd-economics.html
  • The jobs for economists (in the industry or academia) are research oriented.
  • The coursework required for an MBA is no where near as rigorous as the coursework for a PhD, so I doubt it would help you out in academia. The purpose of an MBA is to help shape leaders in the business world.
  • I've often heard an MBA referred to as "a $100,000 piece of paper that states you completed a two year group project." Ouch!
  • If you want to go into the private sector and work for an investment bank or hedge fund, just get an MBA or MA/MS in econ or finance. A PhD will take too much time
  • After MBA, take some Math courses & then apply to a PhD program.
  • "I was worried that just as an MBA I wouldnt have enough credibility since so many people are pursuing this type of degree these days and felt that if I had something a little extra then I would have the upper hand"
  • For PhD, Economics departments regard business degrees and, in particular, MBA as too soft (in Quants / Math). You basically do not see students with graduate business degrees at regular economics departments and those with undergraduate business degrees usually have Masters in Economics or Maths
  • At higher-level programs (for PhD applications), they have so many good applicants that they essentially look for reasons not to consider candidates just so that they can whittle down the pile of applications. However, good letter of recommendations and good grade in upper-math and grad programs can definitely overcome some of this.
  • Some of the top programs are willing to take students with an unusual background if they have potential - I know I saw a CV at Harvard Econ PhD this year of someone who went there after doing an MBA at a Top 50-100 school.
  • You need to take GRE or GMAT to apply for PhD in Business


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