Is there anyone who studies Finance or Accounting PHD?
I am really interested in doing some study again, is that anyone who would like to share your ideas and also Pros and Cons about PHD study?
Really appreciated!
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Id just like to express my hypothesis on the usefulness of doing PHD in those.
Suppose u have "hirable" eng and superior interpersonal & communication skill level and ur responsive and act like a normal person.. Lol ,
and Suppose u have relevant proper experience in finance and accounting.
It's definitely a BIG BIG PLUS for you if you are going to do PHD in Finance. This open doors for you in all sorts of areas and high paying roles ($80 -$100K /yr, bonus could be upto another $100K/yr). But for sure needs good eng together with the other soft skills.
PHD in accounting, hmm...cant give u the same advantage, you might just end up being a researcher or in policy in accounting std board or at uni...or a lecturer or tutor if you are not one yet. (Still really good money though). It is because in the industry (i.e. commercial world) except for big 4 and std setting bodies, they don't really need people with crazy accounting or accounting research knowledge. ...phd in acct could be good if u like facing accounting research and analysing policy all day or if u like to be a lecturer.
With PHD in Finance and a few internship or even work experience (!! 1 yr before you finished PHD!! ) in IB or Big4 or management consultants like Boston Consulting, this will put u straight into wherever u wana go in ur career after PHD.
U could be a i-banker in equities or capital market e.g. Equities Research/trader or Quant Analyst or Fixed Income Trader...all r 100K+ roles (with bonus, can be $200K). Private Equity (PE) or Hedge Fund can even give u 200K base salary. Anyway everywhere.
Or maybe easier job such as in equities, capital markets in the bank or smaller places.
But if you don't have much relevant experience, you've gotta get good grades still for your PHD. That means all day research and study and you've gotta be creative and PC savvy cos u gona need them.
Then after PHD in finance, you can be an associate in IBs. Associate is a higher level entry pos for MBAs and PHDs.
But life in IBs or the like is not easy. You gotta bang bang bang, work like PC , smart, diligent, responsive and entertaining ppl at the same time.
Absolutely can't make any stupid mistakes or else ur gone (since they think it becos u didnt exercise ur strategy properly that leads to that.
Now Pros and Cons in general :
Cons:
it's quite worthless if you didnt do it at a good uni like UNSW or Melb. Cos internationally only these 2 can be compared with the Ivy-leagues in the US. Locally, of course the group of eight.
$$: .
have u got scholarship or paid casual work at uni too? or a good payin part time job?
Time:
Don't forget to get involved in uni like as a committee for the student society and a casual tutor or sth.. all u have to do is to make urself look really busy on ur CV during study period. THis is very important for grads without experience and HD average. I'didnt do this so im coppin in now. So regret
Married or in a relationship yet? :
If not, you probably wont get any partner in the next few years unless ur good looking. This pressumes u wana have crazy grades and easy to find a matching job after PHD.
Pros:
assume you are very discipline and finally get ur cert with "lookable" results and some exp.
U gona have a real RICH but stressful future.
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Hi diaoni,
Thank you very much for your superior analytical about the Pros and Cons.
You know what; I think you could be the best educational consultants I had ever seen.
Worked in the Uni(I think you are brilliant because of the experience assist with educational consultants before), private firms, bank; government and now back to government again. Apart of the volume noting is that special and attractive.
I am entitling to the paid study leave and other entitlements of educational benefits that’s why I am starting to think about it.
Once again, I am really appreciated with your brilliant analysis.
Keep in touch!
Cheers,
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Thanks Kce....
I was just freely visualise my tot on that....i've just had a Bbus Acct and waiting on my second last cpa subj results....
sounds like uv got heaps of exp....should be helpful if u have the capacity to do it...
Go Kce...~!
yea i think i should be a career consultant in uni....policing those lazy chinese students including myself....we dun know dun we cant just get a job that we want with just a pass average.... .now come to think of it...had to many excuses not to study..... ..stupid self....
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Good on you Diaoni,
Is that what you think about Chinese students? LAZY?
Most of Chinese are brilliant students and they overcome their language, cultural background, religion, environmental, and other all sort of barriers study oversees with the second languages. The most important is that some of them are on the top of the list!
You could be right regarding minority of Chinese students and I am glad that you are willing to help and change.
By the way, I am a Chinese, too.
Regards,
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Fees for domestic students*
Under the Australian Government's Research Training Scheme (RTS), Australian research degree students are exempt from tuition fees for a limited time only. Students who exceed these times are liable to pay tuition fees.
Doctoral students are exempt from tuition fees for up to the equivalent of 4 years full time.
Masters by Research students are exempt from tuition fees for up to the equivalent of 2 years full time.
http://www.unisa.edu.au/research ... e/fees.asp#domestic
Guys, all think about it! It's free in UniSA, why not!
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Nah...i reckon only less than half of us are lazy... hehe....but at least we've had our hardworking past or else we wont be chatting on this side of the forum....
Just free fees alone does not make much difference....cos we can get FEE-HELP.... loan upto roughly 100K from govt...and only need to pay off ..bit by bit.... i.e. from ur tax returns and maybe tiny amount withheld from your regular wages...and only compulsory repayment once your earning over 60K per yr....
hope this is still the case...
If they offer me scholarship or living allowance..then i'll kill to study.... hohoho
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wow...it seems u guys had very a good conversation, lol
i did not read them, but if u wanna stay in academia, go for phd in accounting coz it's easier to publish papers. now it's becoming very hard to publish papers in the finance field, especially publish to a good journal. if u are going into industry, that's another story:)
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Hmm...no wonder my ex mentor at uni told me they are only allowed to do double A grades research which takes a few years to complete....
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If not mistaken the next enrollment is on Oct. so there are plenty of time to think about it.
Year-end again, it is time going to be nightmare…
There are so many audits each year especially year-end audit. The auditors are not that easy to deal with. Therefore, I have to verify my financial reports before pass everything to the auditors.
I saw the few complains about study CPA and especially regarding the ethics and financial reporting. Personally, I found it is very important typically the financial reporting. Most of my work is related to the financial reporting. Like balance sheet, general clearing account, asset impairment, leasing and etc. there is only one part which I am not interested is the business combination. But it was very useful for the previous job I worked with.
Apart of that, ethic is important too. There are so many day by day transactions never been written neither the study frame nor CPA standard? Therefore, it item of decision making, professional judgment and ethic have to consider fist.
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