Just curious to know if anyone has considered doing this or has done so. I’m looking at various joint-degree programs right now. Am interested in getting into fed/world bank or sovereign debt research focusing on east asia and then transitioning to a macro hedge fund.
Are you a US citizen? If so, then target the Fed. World Bank doesn’t have an official policy, but they don’t like to hire US citizens at low/early career levels (they feel that US influence is already too strong by virtue of being in Washington DC, and having their Presidents basically appointed by the US, so there is a bias against increasing American influence by hiring more of them). It does help if you are a diversifying demographic, though.
Sovereign debt research is probably less interesting but more meritocratic.
Yeah, I’m an American but born in east asia. Immigrated here when I was very young though.
Great point about the world bank. Their IFC (international finance corporation) has a structured post-MBA recruiting process, but from what i gather they mostly hire ex-bankers and private equity people. My experience is in trading so not sure if that’s a good fit. The Fed is definitely something i’m looking into.
Regarding sovereign debt/currency research, do you know if those groups hire MBAs/public policy types? Or is it strictly masters/Phd in economics?
If you have a non-US passport, that can help.
I know that Columbia/SIPA MIA graduates go on to do emerging market work at some banks. There is a not-so-healthy rivalry with the business school because the business school sees every SIPA graduate at a bank or ratings agency as someone from Columbia stealing “their” jobs. But there is definitely some flow.
Obviously Ph.D. in econ helps you get farther at places like the World Bank Group and the Fed. But in rating agencies and banks, it is possible (though still challenging) to get in without a Ph.D… The increase in macro and political factors may make it easier too.
I actually talked to a current student at SIPA, and he echoed similar sentiments. He’s had no problem getting interviews from banks and emerging market hedge funds, but it was harder because SIPA is very large, and their career services aren’t that great. Also the MBA students look down on SIPA, but this true at harvard kennedy as well.
I’m really interested in kennedy and sais. The dream combo would be the joint wharton/kennedy program.
I’m always on the fence with joint degrees. It allows you to finish what you have to do quicker but I’m not sure how that is perceived by the market. maybe an employer can chime in.
It really depends on your goals. I do think for most people, a joint degree is a waste of time and money.