Industrial Engineering PhD or statistics PhD

[Nyan]

Hello,

I am a senior this year, majoring in physics and math. I go to a small liberal arts college in Michigan. I think I would like to be a quant. I do not have any fund to go to master programs in financial engineering or computational finance. So, I think my only option is to apply Ph.D. Some of the industrial engineering programs has financial engineering aspect. So, please let me know your opinions on whether I should apply industrial engineering or statistics for phd program. Which program would make me more competitive to get a good job in financial industry ?

Thanks in advance .....

 

[Andy Nguyen]

PhD programs are tailored for people who want to devote their career for research/academic so going that route because of lack of fund is suboptimal and highly not-recommended
Get the books/guides from the master reading list and pick up the technical skills and finance knowledge and then find internship/jobs.

 

[Nyan]

Thank for the comment. So, you don't think having a phd in statistics would prepare for a job in wall street ?

 

[Andy Nguyen]

No, I'm saying having a Phd in Stats may be necessary but not sufficient to get that type of job. The type of degree is only a part of the question and we have gone way past the point where a PhD will guarantee an entry level job on Wall Street. Just look at the number of PhD in Math/Physics/etc in MFE programs.
Are you open and OK to the idea of doing your PhD for something other than working in finance?