This may not be a suitable question for this but I wanted to seek some advice from some of you out there. I came into Florida State University as a PhD student in Financial Mathematics and I am finishing my second year here. I passed my qualification exams and started exploring in areas of Monte Carlo simulation for pricing American options. Although, I have considered putting my PhD on hold and getting some work experience within the field of Quantitative Finance, but I do not have any work experience.
I talked to the director here and he said that I could come back and finish my PhD after if I desired to get some work experience. I am wondering what the difference is in applying as a PhD student or applying as a Masters student since from what I was told working for a 3-5 years coming out of the Masters program would make you just as prepared as a PhD student coming in to the job market depending of course on the experience you get.
Is a PhD really necessary to get a job in the quantitative finance field? Or is a Masters with PhD level training good enough?
I am interested in what you all think. Any comments are greatly appreciated.