Masters or Masters + PhD

[Sanket Patel]

I'll be starting a Fin. Math Master's program in the Fall. Ultimately, I would like to get a PhD for multiple reason: a personal goal, more knowledge, and higher likelihood of good job and $$ (I think...).

Is it best of go for the PhD directly after the Master's or work in the industry for a few years? I realize there is no clear cut answer, as it depends on many factors. I think it would be easier to complete a PhD directly after Master's versus waiting a few years while I'm still in an "academic" mindset.

Any and all input is appreciated.

 

[Yuriy]

Ph.D. is not always more money, I know people with only a bachelors degree making more than $100K .
If you want to go for a Ph.D. I would advise to go right after masters so you still remember something.

 

[bigbadwolf]

Ph.D. is not always more money, I know people with only a bachelors degree making more than $100K .
If you want to go for a Ph.D. I would advise to go right after masters so you still remember something.

There are truck drivers, plumbers, and machinists making more than 100K with no degrees. There are school teachers making more than 100K with just a degree and maybe an M.Ed. (which is a joke anyway). And there are Ph.D.s -- part of the overqualified lumpenproletariat -- making 50k or even less. In general, as you say, it's best to do the Ph.D. as soon as possible. But there are other factors to consider as well. How relevant the Ph.D. is to the demands of industry; how good the university or department is; and whether one can snag a good advisor who can direct one to decent research problems, offer meaningful guidance, and is possessed of contacts in the discipline and in industry. A good Ph.D. from a decent department with a hotshot Ph.D. advisor can launch a career; a weak Ph.D., on the other hand, can mean a lfetime spent as a starving community college adjunct. Caveat emptor.

I see a lot of people asking questions about advanced degrees on this forum -- what status a double master's will have; whether to go for a Ph.D.; and the difference between various master's degrees. Advanced degrees are no guarantee of success: it's just that universities have a vested interest in selling them and promising success once obtained.