Am I harming myself by doing a PhD in a less prestigious university than where I did my MSc if I don't want to stay in academia? I did an MSc in an extremely prestigious university, in mathematics and theoretical computer science. I got an offer to stay there for a PhD, but turned it down. Instead, I enrolled on an MRes + PhD programme at a good but far less prestigious university, in a subject I thought I was far more interested in. I will soon have finished the MRes year.

As much as I am enjoying it, I've realised I don't want to stay in academia. What I'd like to go into is probably quantitative finance. What I'm studying at the moment involves a lot of stochastic processes - which would certainly help with quantitative finance. My thinking is that it would be best to finish the PhD, get really good with stochastic processes, and then apply for the kind of job I want. My issue is that, after having read the answers to this question, the less prestigious university might actually harm my career prospects and overshadow the prestige of the university where I got my Master's.

To that extent, I'm wondering: is a MSc from a very prestigious uni + a PhD from a good but less prestigious uni worse than just an MSc from a very prestigious uni (and no PhD)? The jobs I've looked at don't strictly require PhDs. 

I'm in the UK (just in case this makes any difference).



Edit: I ended up writing to a place I would've been very interested in working at. They replied saying that they were more interested in my ability to produce great research than in any league table, and that my MSc at a world-reknowned univeristy already proves my ability in the subject. As such, I will continue with my current programme, seeing as I am enjoying it very much and seeing as I find my supervisor to be extremely supportive.
I don't think anyone will care, especially in industry, unless they are graduates of that more prestigious university and feel a superior attitude about it and let that overwhelm their interest for qualified candidates who can do the job they are hiring for (in which case you probably don't want to work for them anyways).

This all assumes that the lesser university is still a good research and learning environment and still lets you pursue your research goals. In the question you linked, that wasn't clear.

What might be important is that you have an answer to "why did you choose to get a PhD at this university?" which may or may not carry an additional implication of "...and why not at more fancy school?" You have an answer already (emphasis mine):


  Instead, I enrolled on an MRes + PhD programme ... in a subject I thought I was far more interested in.


That said, the networking potential of a particularly well-known school can't be understated. Still, it seems you already made up your mind. I wouldn't worry too much about that decision now that you've made it. You may be able to tap into your old networks from the previous institution when needed for a job, assuming people from that institution also move toward the industry you are interested in.