Decisions, Decisions

Yesterday I got my financial aid offer for the PhD in Public Policy at IU (a joint program between the School of Public and Environmental Affairs and the Poli Sci department).

I ALSO found out that I'm a Presidential Management Fellowship finalist, which basically means that I have easy access to a federal government job, with fast-track promotions, if I want it.

I have two weeks to decide.

let's do...Pros and Cons!!!!!!!!!!!!!!

PhD in Public Policy at IU

Pros:

1. Opens up the chance to be a college professor.
a. flexible hours
b. unjustifiable but palpable sense of superiority
c. being my own boss
d. using my brain for work

2. Might be interesting

3. Is in Bloomington, which is a place I like for it preponderance of people I know.

4. Opens up the chance of working for a private research firm if the professor thing doesn't work out.

5. Does not preclude getting a PMF, or otherwise working in government, if the professor thing doesn't work out.

Cons:

1. I will be very, very, very poor for the next three or four years.

2. I will be probably be stressed and overworked for the next three or four yea (less time for other hobbies and recreation).

3. I might wash out, in which case it was a waste.

4. Might not be interesting

5. Being a college professor might suck:
a. hanging around college kids and socially inept academics all the time
b. Have to publish or perish
c. Might not make much money
d. Can't choose where I live
e. Might not find a tenure track (or any) academic job
f. won't have as much real world impact as non-academic jobs

Ok, now on to the PMF:

Pros:

1. Will make pretty decent money (solidly middle class), perhaps leading to slightly more solidly middle class)

2. Might be interesting work.

3. Might have palpable real-world impact

4. Will have clear hours, leaving time for other hobbies.

5. Will work with wider range of people than in academia.

5. I know some folks in D.C.

6. Good job security and promotion potential

Cons:

1. Might be boring
2. Hours aren't very flexible, and no summers off
3. Might not feel like I'm saving the world
4. Will have a boss
5. Might not like D.C.
6. Might experience soul-crushing suburban bureaucratic despair
7. probably can't live in Indiana

There it is: advice anyone?