{ "media_type": "text", "post_content": "Serious question: What is the perceived value of a PhD in industry? Have a buddy who is a PhD in Economics at a top 10 who wants to go to industry afterwards. She’s a third year and is debating opting for the Master’s option and going to work or just sticking it out and getting the degree and recruiting MBB with a maybe successful chance. She doesn’t want to be a data scientist or anything that really needs a PhD. I say go work since that’s valued more in industry. Welcome your thoughts.", "post_id": "61ef4bcc87789f003767dd76", "reply_count": 8, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

Serious question: What is the perceived value of a PhD in industry? Have a buddy who is a PhD in Economics at a top 10 who wants to go to industry afterwards. She’s a third year and is debating opting for the Master’s option and going to work or just sticking it out and getting the degree and recruiting MBB with a maybe successful chance. She doesn’t want to be a data scientist or anything that really needs a PhD. I say go work since that’s valued more in industry. Welcome your thoughts.

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If you’re already in a PhD program the real question is how long will it take to finish (answer: always longer than you think), but generally PhDs are not worth getting if you don’t plan to be an academic. Source: I have a PhD

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PhD will hold more weight even outside of data science. If she is two years out I would stick it out. If she has another 4 years to go then exiting with an MA isn't terrible.

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Agree with this. If she doesn’t care about academia then she should get a deadwood advisor who will let her graduate with a half ass dissertation

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I have a PhD in economics. Feel free to pm me

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It’s unfortunate industry places more emphasis on a masters versus PhD, but here we are. Anything can certainly happen, but it’s either academia or an internal research group.

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True in consulting but not at FAANG

Fun fact: Ken Lay had a PhD in Economics from the University of Missouri, my alma mater. 🐯 Seriously though, some fields value economists, especially any industry that deals with commodities or specific market-making. (e.g. Enron 🙃) However, it's hard to jump in at the top. Your friend should prepare now by doing research in a field or industry they want to eventually work in, do consulting contracts on the side where possible, and presentations at industry conferences in addition to academic conferences.

This is good advice. Industrial organization and causal inference (labor or health) are the best choices.

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