Journey to an Economics PhD at US from a non-traditional background from outside US-Part 4:Choosing PhD Programs+ My personal Journey
Check the previous posts at:
Journey to an Economics PhD at US from a non-traditional background from outside US-Part
Before I start on the process of how I chose my PhD program .I want to give a brief background of what I was doing before I started to choose my PhD programs.
I had just completed MSc Econometrics and Mathematical Economics from LSE. It was the month of July and I had time till January when I had to accept a job offer back in India. So I has 6 months time in my hand. I got a part time RA job at Oxford thanks to some internal networking. I decided that I would apply for a full time RA job for next year so as to maximise my chance for a Phd program at a top ranked university. I started applying everywhere. I was shortlisted and got Stata and Python data tasks .I managed to pass a few and was even interviewed .Alas ,I was rejected at most of them-Harvard, JPAL-India, UCLA, UChicago’s BFI, UChicago’s Epic, Chicago Booth and University of Zurich.
At this point, the Fall cycle of RA applications were almost over. It was November and I had also completed my part time RA .I had to hear back from two other places that I had interviewed (one in Chicago Booth and another in Oxford) but I was expected to hear from them in January. I was panicking at time as the spring cycle for research applications is much harder and I did not want to take a risk.
My friend -William Liu (one of the smartest human being I have ever meet and my classmate at LSE ,who is currently working as an RA at Harvard Business School) advised to me to apply for PhD programs. I was underconfident as I was not able to get even a good RA position but he said comparatively there are more probability of getting a Phd place than a RA position as the later were fewer in number.
Thus on November 10 ,approximately 1 month before applications deadline .I started to formulate a list of programs that I would like to apply.
7)Selecting PhD Programs
My strategy
I thought clearly what my goals were. I divided it into four parts-
Where do I see myself at 40 -
I evaluated myself and decided on a certain career point that I see myself when I was 40 in my mind .I then shortlisted those programs where the job placements in my research interest leads towards that goal.
Research Interest-
I had a specific topic in my mind on which I wished to pursue my PhD and tried to identify at least 3 professors who are well known in the field and could guide me the same. This crossed off a few names from my list. People generally make a mistake of applying to top Phd programs .I think one should apply to Phd programs with top faculties in the research that you are interested in who are well connected and well known in their field so that their recommendation would help while applying for jobs after the Phd.
Location must be happening-
Yes you heard that right! I am a generally an outgoing person who like to party ,socialize and go for treks! So if I have to survive the next 5 years ,the location must be fun and exciting for me (So sorry Duke and Cornell went out !).You may think that this is trivial but honestly ,if you are going to spend 5 years, spend in a place where you will enjoy the most. I want to go out regularly in the weekend to blow off the steam of the pressures of the PhD.So yes, Location must be very Urban and cool!
Realistic Expectations
I obviously wont get into Harvard with my profile but also I did not consider any program whose ranking was below 30 .Make realistic assumptions about the places where you can get in by comparing profiles of people similar to you who got into Phd programs.
Few other strategies that other people follow:
Apply to 30–40 programs -This maximises the chances of getting a program where people apply to their high risk ,medium risk and safety schools. If you have the money go for it(Each application costs 100 dollars and you also have to send GRE and TOEFLS/IELTS which requires money…so keep that mind)
Apply to only top 10 programs-These people usually have RA for 2–3 years with well connected professors in top departments. There are even some who have worked as RAs for 4–5 years. For example: I know a person with a degree from Harvard who was an RA at Harvard for 4 years after which that person was finally admitted there.
If you feel you have to study at a top Phd program and are willing to invest for 4 -5 years. Then go for it.
Apply to 15–20 programs- with a mixed weightage on expectations, research interest and ranking. This is the more popular and also a smart way to go .Decide on the expectation and outcomes that you want from your PhD .Then make a list of probable schools that will meet those goals and also with a possibility for you to get in and then apply to those programs.
Back to my story:
After selecting and applying for 11 PhD programs ,I received a surprise in January when I got selected for a research assistantship at Chicago Booth.
At this point ,I decided to wait to hear from Phd admission committees before agreeing to accept the offer. I also had to interview for a few of the Phd programs which kept me busy till February end. Unexpectedly, this year the results started to trickle quite late -First week of March!
The results were:
Boston College(Economics)-Accepted
Stockholm(Finance) -Accepted
Toronto(Economics)-Accepted
Zurich(Economics)-Waitlisted
Bocconi(Economics)-Waitlisted
INSEAD(Economics and Decision Science)-Interviewed and then waitlisted
Caltech(Social and Decision Neuroscience)-Interviewed and then waitlisted
Oxford Business(Finance) -Interviewed and then Rejected
Columbia Business(DRO)-Interviewed and then Rejected
USC (Economics)-Rejected
UC San Diego(Economics)-Rejected
I was now in a dilemma .Should I accept my PhD offer or do an RA for 1–2 years and then try again for maybe higher ranked department.
I then decided to take up my PhD offer. The reasons were:
I do not know what the situation will be in the next two years as the admission process has become highly volatile due to the COVID situation.
Moreover, I have a clear plan on where I see myself in 40 and I realised that I would be able to achieve that while having a PhD from Boston College. So why waste time and let me seize the opportunity.
So ,as I am embarking on the next journey of my life ,I hope my account helps .I had shared almost everything that was possible for me to share .
Undergrads regularly ask me for advice but honestly the only advice that I can give however corny may it sound-
I come from a developing country where there are too many smart minds and too less opportunities to accommodate all of them. I am also someone who can be described as above average -I had good grades but have never topped in school, undergrad and I was in the bottom half of my brilliant cohort at LSE. But if I can do it , so can you .Be confident and shameless to search for opportunities . Connect more with peers and professors. I have seen many brilliant people who think negatively and complain .No doubt, there will be frustration and self doubt but it is pointless and a waste of energy to complain ,be ambitious( yet realistic)and have the go-getter attitude. For us the marginal utility increases as we gain a Phd. Remember for us , a place to a fully funded good PhD program in US from India (or any developing country) is not only a way to get better research and job opportunities but also a ticket for us to lead a better life for us and our next generation. As many people say Dekhte hein(Hindi ,for “We shall see”) ,instead try to follow the motto Dekhna hi hoga(Hindi ,for “We have to see”)
