There are many paths to preparing for an economics PhD. Most students apply for PhD programs soon after finishing their Master’s degree. Some even apply directly after their Bachelor’s degree. Others work first, for example as a research assistant before applying.There are benefits to all of these approaches, and depending on your academic accomplishments and personal goals, some paths may suit you better than others. In this article we look in depth at the merits of a Masters of Research (MRes) as an option for PhD hopefuls. We also compare the MRes path with a direct application for a PhD after your studies, or with a year or two of work experience before applying for a PhD.