vix86 Wrote:Irixmark Wrote:Of course, the issue is likely completely different if you're not aiming for an academic position but want a PhD to get a private sector research position.
vileru Wrote:Therefore, it is prudent to check out a university's placement record beforehand.
This is a stupid question, but I've never considered checking something like this. Are placement records usually ranked in the USNews Weekely ranking issues? It could be this is a statistic I simply overlooked whenever looking at some of the best programs or grad schools.
Actually this information isn't easy to come by in many places, which generally means they either don't know or don't care how many of their students they place (this is true even for Oxford). Some places list their recent placement, including private sector positions, on their graduate program's website. If not, you should just email the graduate program director, saying you're considering applying, but you don't want to waste anybody's time and would like to know where the graduates of the last three years have gone. The more vague the answer, the more careful you should be!
vix86 Wrote:IceCream Wrote:a Phd in most subjects is not particularly useful if you're not going into academia.
This needs to be repeated I think, especially when its in relation to the IT industry. Unless you are pursuing a job in R&D, I've heard (repeatedly) that grad school degrees tend to hurt your chances with HR. Most companies tend to view graduates as overqualified for many of the jobs; not to mention the job scene hasn't exactly recovered yet so makes even rougher.
This isn't first-hand information, but my former roommate works for Google and was considering returning to graduate school (he already had a Masters from years back) because practically only people with PhDs would rise to positions where they actually manage projects. His boss even told him that would be a smart move.
A PhD in finance or economics is tremendously useful outside of academia -- there are way more jobs for econ or finance PhDs in the private sector than in universities, and the pay is good, too: usually around $100,000+ starting salary, sometimes a lot more if you're in a major bank. PhDs in maths and physics also get excellent jobs in the financial sector... and in computer game development.
One idea would be to check out the salaries of assistant professors in US universities in different disciplines to see which ones are the highest. In some disciplines you can make more money with a PhD outside of academia, so universities have to pay more to recruit good people. That's apparently true for medicine, life sciences, economics, finance, law, lately maths as well.
Not true for engineering (oddly, a PhD seems to hurt your job chances outside of R&D), any other social science, and humanities. Their starting salaries at universities are pretty much the same and all fairly low. Also doesn't work in the UK where everybody gets paid the same within the same academic rank.
No idea how much of this applies in Japan though... but Japanese banks and insurance companies must employ econ/finance/stats/maths/physics PhDs simply because of the jobs that need to be performed and the skills required.