<p>There’s a guy who got a PhD in political science. He did so after getting a bachelor’s degree not in poli sci or any social science, but in math. {Strange, huh?} It took him 11 years, on and off, to complete that PhD, as he withdrew a few times along the way. Upon graduation, he still hadn’t landed any academic positions He then bounced around in several low-paid post-docs for a few years, and still couldn’t land any academic positions. </p>
<p>So then he decided to become a technology consultant. After only a few years, his clientele included the most senior management of such firms as Apple, Motorola, and Texas Instruments, and he was making half-a-million dollars a year (and this was during the early 90’s, so that would have been equivalent to about $750k a year these days). But he wasn’t through yet. He decided to form a software startup company that specialized in making web development tools. 2 years later he sold that company for a 9 figure sum, making him a millionaire many times over.</p>
<p>Am I making this up? Don’t believe me? The guy’s name is Charles Ferguson. His startup company, Vermeer Technologies, is now known as Microsoft FrontPage; Ferguson having sold his company 2 years after it was founded to Microsoft for $133 million, and which obviously made Ferguson into a multi-millionaire. {In fact, even to this day, 7 years after the acquisition, if you ever use Frontpage, you may notice some of the files that you create will be prefixed with the initials “vti”, which is an artifact that stands for ‘Vermeer Technologies’. } You can read all about it in his autobiography ‘High Stakes, No Prisoners’. </p>
<p><a href=“http://www.amazon.com/High-Stakes-No-Prisoners-Internet/dp/0812931432[/url]”>http://www.amazon.com/High-Stakes-No-Prisoners-Internet/dp/0812931432</a> </p>
<p>Now, in case you’re wondering how the heck all of this happens - i.e., how does a guy with a PhD in political just “become” an extremely highly regarded and well-paid technology consultant, well, let me fill in some details. He didn’t get his poli-sci PhD at just ANY school, and not even necessarily from the usual highly-ranked school. He got it at MIT. MIT is (perhaps surprising to some) a quite good poli-sci school, being ranked #10 according to USNews. But more importantly, one of MIT’s greatest strengths in the political science dept.- and Ferguson’s dissertation topic - is technology policy. Specifically, Ferguson’s topic of study was high-technology competition between the US and Japan, and in the course of completing his PhD. While completing his PhD, he worked part-time for Congress in formulating technology policy, in high-level consulting roles at various tech companies, and played an important role in the formation of SEMATECH (the alliance of US semiconductor firms that was created at behest of the Federal government to meet the strategic challenge from the Japanese). Before he had even graduated, he had already been published or quoted in such periodicals as Harvard Business Review, Time Magazine, and Foreign Policy. </p>
<p>{What makes Ferguson’s story all the more ironic is that his entire research agenda - and most of his early publications - were completely and utterly wrong. For example, in his infamous 1988 HBR article, Ferguson wrote that the US technology industry would inevitably be swamped from the competition without heavy government aid and intervention, as the Silicon Valley-style entrepreneurial style of capitalism was bound to fail agains the deep-pocketed oligarchies of Asia that were heavily backed by their governments. In fact, * the exact opposite* happened. The Silicon Valley style of entrepreneurialism proved to be completely triumphant, not only against Asia, but against the rest of the world, with companies like Cisco, Yahoo, Google, Ebay, Sun, Electronic Arts, etc. turning back the challenge from Asia to become dominant throughout the world. In fact, Ferguson later admitted that he had badly underestimated the potency of the Silicon Valley-style entrepreneurial model. Yet that didn’t stop him from becoming an extremely highly paid consultant and then software entrepreneur himself. } </p>
<p>So, why am I talking about Ferguson? What does he have to do with this thread. Simple. I am talking about him to show you that * your future is in your hands*. One might say that getting a PhD in political science will provide you with no marketability in the real world, or at least not in the business world. But Ferguson made himself marketable. Specifically, he chose to study a specific topic that was highly marketable. Morever, the way he went about pursuing his PhD - meeting members of Congress, working in high-level business consortia, publishing in high-level business journals like HBR and getting quoted in mass-market publications like Time Magazine, hobnobbing with the business school students and faculty at Harvard Business School and the MIT Sloan School of Management - made him even more marketable. And the first book - Computer Wars - that was published right after his post-doc became a highly popular book in industry (even though, like I said, much of it turned out to be wrong). Hence, even before Ferguson had even really entered industry, he had already established himself as a leading tech pundit, with a deep and distinguished network of contacts he could call upon.</p>
<p>If you’re a PhD student, or thinking about becoming one, you can do the same. Obviously I don’t expect you to be like Ferguson. What I am saying is that there many things you can do to improve your marketability. For example, if you are indifferent between 2 research topics, then choose the one that is more marketable. For example, instead of researching some obscure poetry genre from hundreds of years ago, research modern literature, especially on those authors that are still alive and actively writing, and even better, those that are popular to the masses. </p>
<p>For example, I’m quite certain that one could perform some quite impressive research on, say, the works of Toni Morrison, an author that is not only respected by academia, but is also highly popular with the mass market. You could contrast her work with that of other up-and-coming authors who have been influenced by her. It would be even better if you could actually MEET these authors and interview them as part of your research. That helps you to build your network of contacts. You could then also investigate the commercialization of these authors’ works. For example, instead of just presenting papers that are of interest only to academics within your particular field, write some publications that are of interest to the business community, i.e. the commercialization and marketing of Toni Morrison’s novels. Join the Media/Entertainment club of your university’s business school and hobnob with future publishing/media executives. </p>
<p>Look, that’s just one example. But my point is this. Universities offer fantastic resources that you can leverage to shore up your marketability. But you have to be willing to leverage those resources. You have to be creative. You have to look for opportunities and seize them when you find them. Ferguson certainly did. You don’t even necessarily have to graduate. Sergey Brin and Larry Page decided to drop out of grad school to commercialize their research. We know it now as Google. </p>
<p>The OP said that he would only consider schools of the caliber of Harvard and Yale. Well, schools like that offer such a breadth of resources that if you spend 4-6 years there, you should be very marketable indeed. It is, if nothing else, a stellar networking opportunity. Think of it this way. MBA students at both Harvard and Yale pay a small fortune in part to be able to take advantage of the networking available at those schools. You’re able to go to Harvard and Yale * for free<a href=“on%20your%20stipend”>/i</a>.</p>