Career advice for a CS/Math PhD who wants to make money

[bettertreatmeright]

Hi all,

I'm asking you for an advice on my future career as I am a bit lost. I'm a PhD student majoring in machine learning (did my bachelor in math/stats, so I have solid math background), and recently I started wondering what career path to choose if I want make lots of money by my mid 30-s, i.e. in a 10 years period. I'm not saying I want to become a billionaire or something, it's just that I have a lot of friends who work in IT as analysts/coders and I don't want to spend my whole life on a 100k paid job (ok maybe with some career opportunities to become a senior engineer / PM in 10 years and get paid 150-200k when you turn 40, right).

If I figured out it correctly, apart from starting your own business, for a person with my background there are basically two options: it's either to go into consulting or to become a quant. Is that correct, or am I missing something?

And also could someone explain to me the actual career opportunities for a quant/consulter, what are the career steps, what are the salaries and how long does it usually take to get promoted on each stage?

Thanks in advance!

 

[pingu]

... and recently I started wondering what career path to choose if I want make lots of money by my mid 30-s, i.e. in a 10 years period...

Create your own company that solves a problem (real or perceived, it really doesn't matter) and people are willing to pay for.

 

[Daniel Duffy]

Go into sales.

 

[bigbadwolf]

The quality of posts on this forum these days ....

 

[Ken Abbott]

Go into sales.

Plastics

 

[Daniel Duffy]

I want to say one word to you. Just one word. Are you listening?
There's a great future in plastics. Think about it. BTMR, will you think about it?

Apologies for highjacking Ken's post.

 

[Geekynoob]

I want an advice too. If I work in a major Investment Bank (6Yr experience) in NY as a structurer, earning a base of 140K, does it make sense to go for MFE just because I want to work in Quant Finance? Evaluating this in terms of finances, is it a good idea at all?

 

[pingu]

I want an advice too. If I work in a major Investment Bank (6Yr experience) in NY as a structurer, earning a base of 140K, does it make sense to go for MFE just because I want to work in Quant Finance? Evaluating this in terms of finances, is it a good idea at all?

no. Parlay your position to better paid job.

 

[Geekynoob]

no. Parlay your position to better paid job.

I have tried bro, it's very difficult to get into Quantitative roles

Either I keep doing what I do OR go for Masters. Such a tough decision.

 

[pingu]

Either I keep doing what I do OR go for Masters. Such a tough decision.

I think you might be wasting money by going to school again. What do you think the school is going to get you? Could you get the same benefit the school is going to offer without going to school?

 

[Geekynoob]

I think you might be wasting money by going to school again. What do you think the school is going to get you? Could you get the same benefit the school is going to offer without going to school?

I understand what you mean.

But I really want to work in Quant Finance. Structuring is just shit.

 

[pingu]

I understand what you mean.

But I really want to work in Quant Finance. Structuring is just shit.

Good luck then. You might find out Quant Finance is as bad as Structuring.