I will be applying to do a PhD in Applied Mathematics, and have been advised by some professors to consider doing a second masters degree if I do not get in. I have also approached researchers about collaborating on projects with them to improve my profile, and is currently working on one.
I was wondering: if I fail to get into a PhD program, would it be more beneficial for my next application if I enroll in a second masters degree, or would it be better to continue doing research projects?
Edit: Both Suresh and JeffE gave good advice, but I have some points to add.
I am already actively doing research with the possibility of publication (will submit but peer review process is iffy).
Of course, if I am already doing research with well-known faculty collaborators who will write strong letters of recommendation, there is no need to go for a second masters. But would it be realistic to count on a second masters for the opportunity to work with well-known faculty? (IMHO finding supervisors is quite a crapshoot)
I suppose there are quite a few PhD applicants like me: did a masters, but did not excel. Should they try to get research experience with academic collaborators or go for second masters? (there might not be a right or clear cut answer)