Finance/Business School (PhD level) applicants - profiles/stats

**vqlong** · 03-01-2006, 02:36 AM

I wonder how people view Yale finance department (SOM). I know they are not in the tops, but Yale is a pretty big name. Do you think what ranking that department should be ?

**don_ny01** · 03-01-2006, 02:57 AM

Originally Posted by vqlong

I wonder how people view Yale finance department (SOM). I know they are not in the tops, but Yale is a pretty big name. Do you think what ranking that department should be ?

It's among the top program always, some big names there. Btw, getting to Ph.D. in Finace at top 50 is extremly competitive given the number of admits <=6 and good track placement after graduation. For Yale, it seems that the intake is around 5. Most other school outside top 15 like Cornell or Purdue just takes from 1 to 2. Do you apply to this program ?

**associate** · 03-01-2006, 03:11 AM

I get the impression that the most important/commonly used math in finance doctoral programs is statistics. So it's great if you already have a six credit course in that, especially if you've done well in it.

I also get a strong sense that doctoral programs in business schools are looking for individuals who can apply mathematical analysis to real world problems in new and practical ways. At least this is what many of them say on their webpages, and it's consistent with being halfway between business and academia. So to that end, I think the adcoms will be looking over applications trying to get a sense of who can apply math at a graduate level in their research. For those purposes, I think DiffEq, Linear Algebra, and Calculus II probably qualifies you at a minimum but sufficient level.

FYI, I also get the impression that some departments are more mathematical than others. You can get a sense of this for any given department by considering how many econ and math PhDs are on the departmental faculty, what courses they offer, checking doctoral students' papers online (if available) to check what percentage are math-intensive, etc. Although some schools, like NYU's Stern, insist that they'd like all of their doctoral candidates to apply math in their dissertations, there may very well be others whose philosophy is to graduate students whose work is math-intensive as well as others who apply math in their work but only to a lesser degree. Although I'm applying to one finance prog myself, I'm not familiar enough with all of these schools to know. The best way to tell is to look at the faculty's research and/or to contact them.

Other relevant classes include numerical analysis (which is more applied but may be easier than Diff Eq), Advanced Calculus, Probability Theory, Stochastic Processes, and Real Analysis (which requires Calc II). These classes would probably make you very well-qualified in terms of math. Econometrics, and Asset Pricing (Intro Investment *Theory*) are also applicable. It *might* be worth considering one of these math courses instead of Diff Eq. Definitely try to glance at textbooks or some course webpages for these courses just to get an idea of what they are about, if you can.

But honestly, if you take the classes you mentioned, I think the graduate programs will see you as someone who understands that math is an important component of a finance doctorate and who has the initiative to pursue that. They will definitely see that you've taken these classes while working, and since they are likely not applicable to your job, it will be indicative of a strong interest in math and finance.

**vqlong** · 03-01-2006, 08:45 AM

I did not apply to Yale, however in an article on admission in econphd.com, Christian wrote that Yale SOM is "like some others, more of an afterthought than a serious undertaking in its own right" , and apparently he consider it is not equal to even Simon, Ohlin and Michigan GSB.
Since there is no ranking for PhD in GSB, I just want to know how others perceive the issue.
I personally applied only to 1 business school: Columbia. Have not heard anything yet, wondering it is a good or bad sign.

**don_ny01** · 03-01-2006, 06:11 PM

Any one in the forum got any news from Ph.D. Financial Econ. from Tepper CMU.

Gradcafe shows 1 reject for Econ and 1 for Fin. Econ. (the same Tepper).

**yuppiecon** · 03-03-2006, 05:49 PM

1a) Which b-schools have we not heard from, yet?
1b) With respect to those, does anyone have information on decision dates?

**yuppiecon** · 03-03-2006, 05:49 PM

1a) Which b-schools have we not heard from, yet?
1b) With respect to those, does anyone have information on decision dates?

**Bamboochiken** · 03-03-2006, 06:06 PM

I spoke with the Sloan people early this week, and it appears that the finance group is a little behind schedule and is pretty early in the process... So as far as MIT Sloan Finance hopefuls, it appears we'll have to wait a little longer...

**Bamboochiken** · 03-03-2006, 06:11 PM

I spoke with the Sloan people early this week, and it appears that the finance group is a little behind schedule and is pretty early in the process... So as far as MIT Sloan Finance hopefuls, it appears we'll have to wait a little longer...

Has anyone heard anything from Wharton? It seems like there've been some admits as well as rejects... but I haven't heard a word.

**ramlau** · 03-03-2006, 10:03 PM

Illinois seems to be quite generous on funding. $20k for the fellowship and another $4.5k for the summer TA/RAship.

But, alas, Champaign is in the middle of nowhere.

Ram