Ph.D. vs Other Stuff

Questions BS, MS, MBA, or PhD? Graduate school right after BS graduation? Where should I go to graduate school?

Approximate Time BS MS MBA Ph.D. 4 years New Associates 1-2 years after BS New Bachelors MBA 2 years after BS Usually work for a couple of years first Ph.D. Less predictable About 4-6 years after BS Not just for Professors anymore

B.S. and M.S. What will I make? Starting salary of $55 - $75K 18-year salary of $90 - $130K Unless you go into management, or are one of the lucky few to transition into higher-level research/strategy positions without a Ph.D. ...

B.S. and M.S. Lifestyle Typically quite predictable Often a fair amount of travel (to visit suppliers, collaborators, etc.) Crunch periods of intense work near product deadlines Typically a decent work/life balance

What is a Ph.D. all about? Exclusivity: The highest academic degree anyone can earn (less than 1% of the population attains the degree) Mastering a Subject Extending Knowledge Explore, investigate, contemplate Research Industry? Relationship to products? Sometimes research leads to new products or improvements, startups, patents, licensing deals, etc. Not typically the measure of success for your work http://www.cs.purdue.edu/homes/dec/essay.phd.html

Questions to ask yourself Do you want a research career? Do you want to direct scientific research and set the agenda for scientific studies? Do you want an academic position? Do you have what it takes? Intelligence Time Creativity Adaptability Self-motivation Competitiveness Maturity

Some potentially wrong reasons to start a Ph.D. • Prestige: Don’t think it’s such a great accomplishment. Once you get a Ph.D., all of your friends will have one too... :) A goal in itself A job guarantee Trying it out to see how it goes: Ph.D. requires total commitment Easier than entering the work force Wealth: While most science and engineering Ph.D.s make very good livings, there are other more secure and optimal paths to wealth.

What can you do with a Ph.D.? (In your area of study) Research position at a corporation (large or small) Intel, Micron, Microsoft, National Semiconductor, HP, Agilent, GE, Siemens, Philips, Toshiba, etc. Start-up Research position at a National Lab Los Alamos, Sandia, Berkeley, Livermore, INL, NRL, etc. Academic position Professor Teaching Professor Research Professor Staff Scientist

What can you do with a Ph.D.? (Outside your area of study) Consulting In your area of expertise Management consulting (McKinsey, Bain, BCG, Monitor, Accenture) • Finance/Banking Investment banks (Goldman Sachs, Merrill Lynch, etc.) Hedge funds Asset management Management

What does it pay? Research position at a corporation (large or small) Starting cash compensation range: $90 - $110K 18-year compensation range: $130 - $200K Research position at a National Lab Starting cash compensation range: $85 - $105K 18-year compensation range: $120 - $180K Academic position (engineering) Professor: Starting academic year (9 month): $75 - $95K 18-year: $110-$150K Teaching Professor: Lower Research Professor: Full year: $90-110K 18-year: $130 - $180K

What does it pay? Consulting In your area of expertise: $0 - $400K (high end is extreme success, low end is much more common) Management consulting (McKinsey, Bain, BCG, Monitor, Accenture) Start: $120 - $160K 18-year: $400K - $2.5M Finance/Banking Investment banks (Goldman Sachs, Merrill Lynch, etc.) Hedge funds Asset management Start: $110-$160K 18-year: $400K - $4M

When should you go to Graduate School? Immediately after completing BS Best option You are use to working long hours and being poor After working Sometimes companies will pay for graduate school Much harder and take longer

Financing Your Education Education is worth some debt Most Electrical Engineering Ph.D. programs Pay your tuition Pay a stipend BYU $18k - $24k/year

WHERE TO GO Can depend on whether you are interested in academia

BYU VS. SOMEWHERE ELSE Reasons to go to BYU Head start – can finish faster Social reasons – love it here, still looking for spouse Like advisor, project you are involved in Reasons to go elsewhere Other schools have better reputations Broaden your technical network Diversity important for academic jobs Other schools are doing specific research you like

YOUR ADVISOR Choice of research topics happens before graduate school You choose your school and advisor Advisor is often locked into long research cycles dictated by money and momentum