Unconventional Career Paths For Finance PhDs! #Finance

hello all this is dr. de Maslin talking to you about reciprocity calm the e is written with a three and in this particular CashNews.co and it’s up to you about what can you do with none;">Finance PhD so if you don’t know me I’m associate professor of innovation strategy and entrepreneurship and it created this whole reciprocity project to give back as much as I possibly can there were so many people that helped me out that I want to pay the favor for

and help you out alright so many people ask are asking about doing a Finance PhD and what you can actually do with

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance PhD and I think the reason is why people are really curious and you know a Finance PhD

or a doctorate in Finance or doctor in Accounting and stuff it’s because they think that they’re gonna make a lot of money doing that and you

know I personally would argue that that is not the best sort of way to think about this there’s many sort of things in your life that you should be thinking about I’m not gonna discount it’s really important to think about money and wealth and things like that but I think that

there’s many other things that you can do that matter just as much in your life and you want to be very very concerned about that kind of stuff so um what I would suggest in terms of a none;">Finance PhD in what you’re doing I would look to see what they’re actually doing right so you want to contact some of these folks and talk to them but you know here’s some sort of ways or things that people do when they go into you know a

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Financed PhD or they go and get a doctorate in that particular degree so the first thing is the vast majority of people that are gonna get a

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance PhD and this is true of anybody in Business School at least in North America it’s different in Europe there’s lots more people that go into industry but a lot of

people in North America will end up going into academia and so what does I mean you’re going to do research and it gonna be teaching right so most of them are going to be going in doing some sort of academic thing and the reason is is that a lot of colleges a lot of business schools are going

to sort of select on those individuals that are wanting to go in into the academic game and it’s just because it’s really tough and it’s rigorous and there’s a lot of investment that’s made in those people individuals and so they want them to do really well going

forward some people will work in a policy or think-tank sort of role but often what that is they don’t go and they don’t work at a think-tank sort of full-time what they’re doing is they’re maybe working a little bit at the think-tank or maybe they take a summer off and they

work at the think-tank you know things like NBER for example or you know the Brookings Institute and things like that you know they would just go in work part-time or maybe they have a cross appointment was called across an appointment where you work you know for the most of the met and the

majority of the time at the University where you’re at and then you would go you know maybe a week or two at a particular location or a think-tank and sort of share your ideas with different people that are in policy and in that is that yeah you know that not everybody does that but that is

not unusual but it’s usually more senior folks that are doing that kind of style right so it’s somebody that has built a career there 25 years you know 25 years into the career and they’re looking to have you know policy impact they actually will go into academia and do the normal

route to were either become a tenure track professor before they actually go into a think-tank that’s that’s pretty normal I think you know some people do go and work on a Wall Street and some of them to become traders right not as many as you think do do that kind of stuff but there is

some people that do go into that in there you know people are you know different companies are asking the PhD graduates to go and work at in Wall Street it does happen you know you might be working at things you know some different companies like a hedge fund or a private Equity

firm you know different things like that where you would go and you would be an analyst at the different institutions sometimes you work for a large bank and you would be an analyst and then you’d quickly move up in the ranks you know in the in the bank you could because you have their serve

records and background to move up in the bank but you know not everybody is going to and so you know there is some people that do that kind of stuff and often it is you know you’re doing just for analytical roles it’s definitely a lot more technical so you might think about even doing a

technical PhD if you want to do that right so doing things like statistics economics you know different sort of math areas if you want to go in work in in a bank and have influence in that way or you just don’t do it you do an MBA I’d probably recommend that route build your skills as

an MBA first and then go you know in the bank banking industry and then sort of see whether you can move up or you can go and get some sort of doctorate degree that is a little bit more applied if you want to do that eventually but um definitely maybe the MBA route would be better if you’re

doing that kind of thing it’s gonna save you a lot more money you’re gonna be making more money much more quicker if that’s what your end goal is so I just recommend that rather than doing a doctorate now I’m not a lot of people will go and start their own business with a

Finance PhD it’s just really uncommon you know entrepreneurship it’s not as common as you think it is what they might do is you know in which totally classified

as sort of a business is they just do a little consulting thing on their side you know not a lot of people are gonna be doing this kind of stuff right where you know it’s a YouTube thing it’s just super uncommon to do that kind of stuff it’s kind of more like new new economy sort

of things and you just don’t see a lot of people doing it’s really not Profitable in the short term so I think people are pretty rational that way and it just takes a long time to get to the point where I actually are Profitable with any business that

you have and it’s not to say that people don’t become Profitable and they don’t become successful and they become you know they could be a successful trader and things like that on their own but there’s just many different factors that weigh in it’s

easier to do the sort of normal academic route so if I was you and I was thinking about a Finance PhD you know or an Accounting PhD is you know I would just

definitely just think of it as as academic thing that you’re doing that you want to go into you know Business School and work in Business School to research you know what is research just basically anything that you’re studying something for a long time that is related to so in

Finance and you know Accounting and stuff it’s gonna be related to text-decoration: none;">Markets and firms not different not very different than what people in strategy do in fact there are some people that sort of do you know multiple you know that they would publish in both areas right so bold; color: #1a73e8; text-decoration: none;">Finance or Accounting and as well as strategy and stuff there’s not a lot of there’s differences but it is not as big as you think you know I’m taking some

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance doctoral level Finance courses and stuff myself so I there is there’s overlap

with it it’s just Finances a little bit more mathy for the most part and Accounting i’ve never taken an Accounting course so i

wouldn’t be able to tell you too much about that but basically you know most people are gonna be going in that particular direction and doing research and that is really common right so if you’re thinking of you want to do a bold; color: #1a73e8; text-decoration: none;">Finance PhD to go into a hedge fund or a private Equity or something like that I would recommend instead that you don’t do that you just do you know what color: #1a73e8; text-decoration: none;">Finance specialty MBA or if you want you a lot of banks and this is kind of like an inside tip right so a lot of banks and a lot of trading and stuff like that it’s moving online and it’s becoming a lot more technical right so the

vast majority of trades and in you know the world around us is doing is is online it’s using computers and machines and algorithms all that kind stuff so you know I would if I was you none;">Finance is gonna be a little dated with some of that stuff I would actually go into computer science and do a PhD in computer science and learn some of those skills maybe it’s machine learning for exam maybe you do AI or something like that it’s not to say you

can’t do that in Finance it’s just that you’re gonna get a bigger more depth understanding of some of that stuff and as long as you’re doing a project

or a thesis is related to the Finance industry you can or maybe you do both right so maybe you do bunch of courses in computer science and

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and you sort of create your own program and then you go and launch your career doing that and that would be probably a way that I would prefer to do if you’re doing that

kind of route and so you might want to look at that right so how you can blend those particular things I think there’s a couple programs that do financial engineering as well you know one University of Toronto has that works in an engineering school and you do like

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance stuff as well so you need to do some of those things just be creative with some of it and and you can even give you all sorts of things with it right so that’s what you

can do with a Finance PhD use lots of different options so you could you could do it’s like a any doctorate in in a business school yeah there’s many different

options but most people will go into academia and they’ll they’ll end up pursuing a particular route so if you liked this CashNews.co give me a thumbs up do subscribe to youtube channel take care and have a wonderful day