Hey, basically taking a second masters to go into and would love to do a PhD - but have come to realise that trying to stay in academia beyond that is a joke. My passion is quantum mechanics and and I have an offer for a Msc in theoretical physics at imperial however I wonder about the lack of transferable skills? I also hold an offer for applied maths (my background is physics so this may be hard). I would like to do a PhD for personal satisfaction and then break away into finance or industry. But everything I talk to profs about this kind of route they accuse me of not being committed enough to the cause. I spend my first master at an Ivy league collage in the states and was treated like a PhD student - but with out the pay and less rights, didn't really enjoy it, started to question why I even too physics, worst of all I lost my long term girlfriend due to me always being busy (bearing in mind that I was an undergrad my super experted a lot and minimum input from himself - maybe three hours a month?) So I'm trying to find an area that I will be happy in and lead to something outside academia and even be a benefit - the only area that appears to value your skills is investment banking - but even that's getting hard to break into. So there it is I have no idea what to do any more - follow passion and end up jobless, follow applied Math and end up unsatisfied or no PhD route at all. I have no problem making sacrifices but there comes a time when you have to question weather it will all be worth it, or I will wake up and regret the failed relationship's and missed opportunity's that I let go in the name of research? Everything comes with risk but graduates studies takes the biscuit, Like you said its a tough call :-(

Reading this: http://www.realworldmagazine.com/science I have realised that have fallen into the pitfalls. I can't decide on a career. Academically I'm very interested in theoretical physics - but I worry about the lack of career options and salary. I feel I should push my career towards a less exciting but better paying area. How do I get out of this rut, make a decision and move forward?

Thanks for the repley's so far guys. I really appreciate it. I'm just so depressed at the moment and I have no Idea what I want out of life. Well I know I want a stable career and something that interest me. I'd love to work in an R&D deportment or something. The only non-academic careers for physics students seem to be engineering, programming (data mining ect) or finance. If I wanted to do either of those I would have taken a degree in engineering, computer science and finance respectably!

Ender I can completely relate. I had a really hard time being treated like a PhD student and was going through a lot of personal issues (being 3000 miles from home, family, friends and my girlfriend for a year, while an experience, is not something I would do ever again - this is why the post docs put me off). I have definitely realised that I need to do a PhD. I've had a "normal job" for the last 3 months and its killing me! I use non of my skills and I find my brain slowly shutting down! :(

Finally I have found out that I can do some quantum stuff in the applied maths department - so that may be an option, it not quite the theoretical physics I wanted to do but that could be a good compromise?

Hey DanB, thanks for your reply. I guess that I'm very over cautious when it comes to doing a phd. Can I ask, do you have any regrets after all that sacrifice? I know you wont regret the Phd in terms of its personal intellectual stimulation, but what about in terms of career benefits or personal sacrifice?

I know how busy you can be when doing research and what/who you can lose as a result During my research year I was treated just like the final year post docs, right down to the adviser who expected you to know everything). It does come down to long term happiness, and while I would like to research something I loved I need to make sure my Phd lead to a meaningful career that I not only enjoined but also make enough money to pay of personal bank (and family) loans. I have heard that with a theoretical phd becoming a quant and/or consultant is possible, but what about more scientific based careers in industry and R&D. Also does a lack of computational knowledge not put you at a severe disadvantage? finally did you get your role before or after the credit crisis? Thanks again.

I just finished a research masters at the Harvard Smithsonian centre for astrophysics in the USA. I always wanted to go on to study quantum gravity and particle physics. I have been accepted on a theoretical physics (pure maths) masters course at a top UK uni (I'm originally from the UK). I have also been accepted onto their Applied maths course. I have to decide which on to do.

While the choice seem obviously theoretical course, I should probably state that after my research experience I was put off of becoming an academia, mainly due to the post doc think - you know moving around, not to mention the unstable future. I would still do a theoretical phd involving space-time and quantum mech if it were to get me somewhere, I believe I'm good enough (I graduated top of my class fro a good uni).

I also like maths (though my passion is quantum stuff) and it seems to have more career options. I feel like I going insane with this decision, should I follow my dream of doing a phd in quantum gravity and try and find a decent carer or should I  concentrate on more numerical maths and go into industry? I my dream worth gambling my entire life on.

In years to come I don't want to regret not having done the theoretical PhD and maybe just maybe been apart of something but at the same time I don't want to over-qualify my self in a niche area and have few computational or transferable skills to get me a decent job and end up in a low paid job with little career prospects and have to look my future kids in the eye and live a poor life. The decision is tearing me apart! What would you do!? What are you experiences? Please help!