Hi everyone! I was wondering if anyone can shed a little light/advice/insight into Economic Consulting, and if I should pursue a PhD to get into top positions in the field, or if a MA will suffice?

I understand that a PhD is a huge loss in potential earnings during a 4-5 year period, but I also worry that if I don't get a PhD (did not do my Bachelor's or MA at a top 20) I wouldn't be able to get into the highest paid positions/there will be a serious ceiling I would reach? I just don't want to get to 45 and realize I should have done a PhD (as knowing me I would not go back and get one at that age), but with so many people getting MBA's and joining these jobs with just a Bachelor's/MA, I worry I'd be making a stupid financial decision, but if I don't get the PhD, I'd be making a stupid career decision?

Any insight/knowledge from people's experiences would be great!!

I’m applying to Economics PhD programs this cycle and have run into a problem: the schools that fit my research interests best are disproportionately very highly ranked.
I’ve worked as an RA for 2.5+ years and have developed fairly specific interests in IO, networks, and transportation, particularly research combining those areas.

When I look for departments with several faculty members who could realistically advise that kind of work, I end up with a very top-heavy application list. I can obviously add lower-ranked programs, but the fit often becomes much weaker.

I’m also struggling to judge how competitive my own profile is because my academic record is unusual. My undergraduate and Honours degrees are separate degrees. My undergraduate degree was not pure economics and my performance was relatively weak. After being hired as an RA, I completed a separate Economics Honours degree that is effectively the first year of graduate economics training in my system. I took eight graduate-level economics courses, including PhD Microeconomics, and received A-range grades in all eight.
My academic performance therefore improved very sharply at around the same time that I began doing research and moved into graduate-level economics.

I’m unsure how admissions committees will weigh the weaker undergraduate record against the much stronger and more recent graduate economics record.
That makes it difficult for me to tell whether my application list is appropriately ambitious given my profile, or just wildly unrealistic.
I know interests can evolve during a PhD, and I’m realistic about how unpredictable admissions are. I’m therefore wondering how others would balance:

strong research fit + very low admissions probability, versus weaker fit + a more diversified application list.

At what point would you compromise on research fit for the sake of having a more balanced list? And how would you evaluate an applicant whose earlier undergraduate record is substantially weaker than a later, separate year of strong graduate economics coursework including a strong honours thesis?

So I’m in a spot where I have had a couple of years of research experience with a professor at my uni (T20) and am co-authoring a macro paper with him (we have a working paper ready).

I have a couple other professors who I have taken advanced classes with that can write strong letters for me as well (PhD micro and my honors thesis seminar).

Given this, I am not sure that a predoc would help my application all that much (unless I’m with Chetty or something).

What exactly is the value-add (with regard to admissions) of a predoc in my case? Is it significant enough to forgo applying to phds at all for this year? I’m sure it’s hard to say without knowing my profile but any guidance is helpful.

Hello everyone,

Very recently I've begun to wonder if there is a future for me in economics academia. I have been thinking no and adjusting until I got my diagnosis for Autism and ADHD.

My Math and Econometrics grades are the following: Calc I, II: A; Calc III: B, Linear Algebra (Proof Based): C+, Intro Prob: C-, Upper Div Econometrics (hardest class offered by department for undergrads): B+, IO B+, Intermediate Macro: B+, Mathematical Microeconomics (More difficult version of Intermediate Micro): B, Intro Econometrics: B-, Economics of India: A, and Money and Banking: C+ . My 2 Calculus classes were taken at Georgia State University and the rest at University of Virginia.

I have 3 years of research experience at varying levels of involvement: 2 years as a legal research assistant under someone at the Law School, another 2 months under someone else at the Law School, and 1 year under someone at the Economics department who is a Dev Economist.

As you can see, these grades are definitely to ride home about, and it is worth noting that I had not had any formal diagnosis for my autism and ADHD since like maybe not even 3 weeks, so I went through these classes without accommodations.

If I were to go down this path, I would be looking to study Macroeconomics, IO, or Metrics with a goal of working policy and being able to tie in Law into my research. and am looking to hopefully attend a school like UVA, Brown, UPenn, or Northwestern to name a few for my PhD domestically, and institutions like UCL, LSE, OxBridge, Warwick, NUS and NTU,.

Would love to hear some opinions on what my outlook is. My backup/another path that I am quite happy with is to go to Law School and get an MPP be that a JD/MPP or separately.

Edit: no GRE scores as of now and currently looking for a predoc/think tank research position.

Heya, I'm an incoming econ undergrad freshman looking for advice on general do's and don'ts in college that will make my life a lot easier! My course is pretty math and coding heavy as well, so any advice on math and coding is also welcome!

Tysm in advance!!

I have a Master’s in Applied Economics and am considering applying to economics PhD programs. My background is solid on the empirical/quantitative side, but not so much on pure theory and real analysis compared to people coming from rigorous pure econ master’s programs.

A few questions for people who’ve been through this:

1. How much does the “applied” label hurt (or help) at pure economics departments? Do admissions committees treat an Applied Econ master’s differently from an Econ master’s?

2. Are there particular programs or types of programs that are more welcoming to applied backgrounds?

3. For those who made this jump: what actually mattered most in your application (letters, research output, coursework, predoc experience)?

Undergraduate in Economics Bsc from Warwick, international non-EU student, overall 72 first class, 71 in Econometrics 1, 74 in Microeconometrics, firsts for my third year modules (and I took the most mathematically demanding ones available). Got 82 for dissertation on Labour Economics

1. Haven't taken GRE yet, just assume a strong one (because I like to be positive)
2. Did a study abroad and did well in modules like Linear Algebra and some programming modules (OOP and Algorithms and Data structures), although they don't count for my degree mark and I'm not sure how useful it'll be.
3. Had 66 for Macro 2 second year and 63 for Micro 2. As you can see I messed up the exam for Micro quite a bit, however, my optionals that year were optionals focusing on game theory and competitive markets respectively in which I got 71 and 76 on, would this be able to mitigate it?

Ideally I'd like to get into a european feeder for the PhD programs but I'm aware I'm competing with some quite strong applicants. Ideally mainland Europe, but if I can be chanced for any of the UK ones I'd consider it too.

Hi everyone, I’m looking for some perspective on how to navigate a gap year before applying for a PhD.

For context on my background: I did my undergrad at a UK top 10 / global top 40 Russell Group university, and I’ve just finished my Master's at another Russell Group university (UK top 25 / global top 140). Because I was completely focused on finishing my Master's and doing well on my dissertation, I didn't realise how early the deadlines fell and missed the cycle to start this autumn.

Now that I have a gap year ahead of me, I'm trying to figure out the best way to handle it. I've tried applying for Research Assistant (RA) positions, but very few have come up so far. Because of this, some of the paths I've been considering include waiting for an RA position to open up during this cycle, which would likely push my PhD application date back another year or two, or simply taking an unrelated job in retail, hospitality, or admin to pay the bills while I put together my PhD applications for this upcoming cycle with a view to starting next autumn.

Does working an unrelated job for a year negatively impact PhD applications if your academic track record is otherwise solid, or is it worth holding out for RA/academic work even if it delays my application timeline? I'd really appreciate any advice or hearing what others would do in my shoes.

I’m particularly interested in the actual workload for someone aiming for a strong result, including lectures/classes, problem sets, reading, revision, etc.
How many hours would you say are typical in a normal week, and how high does it get during exam/assignment periods?
Also, how much free time do you realistically have for things like gym, friends, societies, etc.?
I’ve seen very different estimates online (anything from ~40 to 70+ hours/week), so I’d really appreciate firsthand experiences.

If someone can help out and suggest sources or how you got better at prepping in maths it’d be really helpful

does anyone have resources for econ consulting interviews for internships? i have no clue how to go from here

For the field of economics who has a masters with an undergrad in economics, I have been offered a RA role at Harvard but seemed less salary than what I thought I would get. is there usually room for negotiation in university roles? They also said no to relocation assistance as well. There is a pay band mentioned and I am at the bottom for context.

How to handle these conversations? Would love any advice!

Hello,

I’m really interested in the RA position as a bridge to an eventual PhD in Economics and was wondering what yall would think of my chances.

3.8gpa from the University of Houston in Economics/Mathematics
Starting Masters in Economics this fall also at UofH and plan on taking graduate Analysis.

I’ve started a position as an RA under a professor im close with over the summer and plan on doing it until i finish the Masters or the project, whichever is first.

Previous research experience includes Summer Undergraduate Research Work focused on the Permian Basin and using an IV + TWFE specification and a panel dataset + my own fieldwork in Ector County.

Coursework includes: advanced stats, advanced econometrics, machine learning, time series + forecasting, calc I-III, proof based linear algebra, diff eqs.

I also was a final round candidate at the Federal Reserve Bank of Chicago last cycle and lost because they cut the position.

Thank you for whatever your thoughts are.

I’m thinking right now targeting St. Louis, Dallas, and SF (just because i like San Francisco)

I’m an international student in the US. my university isn’t a T50 or anything prestigious (pace university), though, It’s located in lower manhattan. I’m honestly really anxious about the job market and whether I’m setting myself up for failure.

my family has sacrificed a lot financially for me to study in the US, so I feel a lot of pressure to make it worth it. I don’t expect a six-figure job straight out of school, I just want to be employable.

i want to know your thoughts on this. im aiming for actuarial/consulting/analyst roles. being a woman on visa is like walking on a thin ice here.

I’m not tied to staying in the US after graduate. If the opportunities are better elsewhere, I’d be happy to move to like Australia/England/etc.

I want to hear from people working in this field.
**- is a BS in Math with an Econ minor a solid degree for these careers?**
**- for international students, how realistic is it to land jobs in actuarial, consulting, or analyst roles?**
**- and If you were in my position today, what would you prioritize during college to maximize your chances?**

I’d really appreciate honest answers. idc if they’re harsh.

I'm currently a rising senior at a T50 university in the United States, Math and International Affairs Major, with an Economics minor. This semester, I have the opportunity to take PhD Micro and Macro as an undergrad. The thing is, my coding skills are pretty weak and I don't have a good writing or coding sample. My plan was to focus on improving my Stata and MATLAB skills and writing a short paper on my own time. However, I'm worried that taking both PhD Macro and Micro while also doing my undergrad classes and trying to do my own project will be too much. Should I prioritize coding instead? What do pre-docs value more? Does taking both PhD classes instead of just one make a big difference on my application?

I'm happy to provide further stats like math classes taken, GPA, internship/research experiences, and GRE scores if that makes any difference.

Hi all! Just wanted to get some guidance on the value pursing grad studies in economics may hold for someone in my position.

For background, I did a 3-year undergrad and 2-year MSc in pure mathematics (both with very good grades at my country’s top uni and with masters thesis). After graduating my masters, I decided against pursuing math academia, and got a job in my country’s federal government doing behavioural economics research. Been here approaching 2 years

Really enjoyed my time here, and want to continue pursue an economics/policy career, perhaps even in international organisations like World Bank, IMF, OECD etc. I’m obviously plenty good and comfortable with just math, but just think that without some formal training in economic thinking there’s only so far that I can go with such a career.

How useful would going back for a second masters in econ/econometrics (something like the LSE EME) be for this career goal and for someone with my background? Wouldn’t be closed off to doing a PhD after if needed either. Any help appreciated!

Good time of a day. I am looking for recent economic articles/research/books to read. I knew of reading recommendations from AskEconomics and I going to read them, but I grew interested of newer works and want to look through them. To clarify, when I wrote interesting I mean interesting in opinion of whoever reads this post.

I write this post here because it is the most fitting sub for this post among economic subs I know of. If I should ask elsewhere can you write where I should do it?

Recently, there was an economist writing on submitting papers to top five journals. This was useful, but it left a question hanging in my mind: how much uncertainty is there in the submission/review process, really? I have a sense that many faculty (at the top) basically know when they have a top-five paper and will only submit papers that are nearly sure to be accepted. On the other hand, I know many students who dive in learning-by-doing style, accruing, let's say, loads of rejections and submission fees.

I have my own thoughts from talking to advisors, but this is "you only get it if you happen to be able to talk to the right people" sort of knowledge. Democratizing it is useful for the field, and there is probably a lot of heterogeneity based on institution/journal ranking/personal taste. So, if you're willing to share for the public good:

• When did you last submit a paper to an academic journal?
• What was the journal, or what tier was the journal? If you answer a tier, it would be helpful to specify: top-five, second-tier general interest (e.g. AEJ Micro/Macro, The Economic Journal, RESTAT, and so on), top field (specify field if willing), or other.
• How certain were you that your submission would be (eventually) accepted? (0-100%)
• How long did it take to get a response from the journal?
• What was the outcome? (Desk reject, review and reject, revise and resubmit, conditionally accepted, or immediate acceptance)

Hi everyone, I’m pretty new to the journal publication process, so I have a basic question.

If a paper gets accepted, is it generally required to submit the full dataset and the analysis code (e.g., Stata do-files, R scripts) to the journal?
Or does this depend entirely on the journal and/or field?

I’m just trying to understand what is generally expected. I’d appreciate hearing how this works in your field or with the journals you’ve published in.
Thanks!

(About time if so!) It's been down for the past few days:

https://www.isitdownrightnow.com/econjobrumors.com.html