Question about Finance PhD

[kuejai]

I start thinking about applying to finance Phd. I don't really know where to start. This is my profile so far:
Undergrad: Economic, Finance, and math minor (U of Northern Iowa)
Undergrad gpa: 3.98
Grad:Economics (Iowa State U)
Grad gpa: 3.38 (I know, it looks really badddddddddd)
Certificate: CFA level2 candidate (keep my finger cross that I will pass level 2)
Teaching Excellence Award from Iowa State
GRE: math 800 verbal 370(very bad) writing 3.5
I guess my problem is my verbal score and low verbal GRE. I do speak english fluently, but the score shows otherwise. I do not know if I should take TOEFL to show that(I took this 5 years ago,and i got 577).
Also, do you think what kind of school I should apply for, ranking about 30-50? Does PhD in Finance usually have full scholarship?
Please help me where should I start. Do I have a chance to get in Phd with scholarship?

[as9416]

Good news - nearly all Finance PhD programs are fully funded. It's not a "scholarship", but you won't be paying tuition, and I have a feeling that's what you were concerned about. Normally, you'll perform research assistant duties in the finance department of the school you attend, and as compensation, the school will provide you with a stipend of somewhere between $15k-$30k per year on top of the fact that you won't be paying tuition.

You definitely have some things about your application working in your favor. You had an excellent undergrad GPA, and you were a math minor. In addition, you have a great quant GRE score. These both show that you can most likely handle the math coursework you'll see in a finance PhD program.

In terms of things you'll need to work on...the verbal score. Your math scores are definitely more highly weighted than the verbal score, but you will need to score in at least the 500s to look respectable. As you mentioned, your GPA in your grad program will probably be the clincher in keeping you out of a top 20 program, but the good news is you've already mentioned you're looking at programs from 30-50. The rankings, especially when you leave the top 20, become very debatable, so I would take a look at each of the rankings listed in the link below. Think about what topics within finance you'd like to study, and perhaps you can find a fit with a current professor at a school. Also, think about where each school is located, and if that geography works for you. For instance, if you enjoy the small college town lifestyle, you may not want to look at programs in New York City or Los Angeles. Good luck with the decision!

Financial Rounds: Rankings of Finance Doctoral Programs

[kuejai]

I probably should add list of classes that I have taken so far also:
Math: Cal 1-3, linear algebra, real analysis 1-2, prob and stat, bus stat, time series (I got all As for my math classes)
Econ undergrad: int micro, int macro, econometrics, money and banking, developmental econ (all As)
Econ grad: micro (B+), macro(B), quant method (B), econometrics(A), public econ (B+), commodity market(B+), Agent base theory(audit),
Finance: corp fin, investment, intermediate finance, advanced finance, security analysis, international finance, portfolio management (all As)

Can anyone suggest some school names that I should look at? I would love to be in the big city if I can.

[longshot]

take a look around at some other threads, you should find everything you need

[Matrin Zong]

Why you want to do a PhD in Finance if you have almost CFA already?
CFA would be much better for money making...

[EE570]

Originally Posted by Matrin Zong

Why you want to do a PhD in Finance if you have almost CFA already?
CFA would be much better for money making...

I think that, besides being an incorrect statement (at least in my experience), being done or close to done a CFA is somewhat irrelevant to whether one wants to do a PhD. One does not do a PhD for money, there are much more efficient paths to the big bucks. Also a CFA and a PhD are far from being equivalent.

[kuejai]

When I start taking CFA exam, it was just a backup in case I cannot get in grad school. I don't really know what I want to do yet, so I just leave my option open. In this case, I can either work or doing PhD. I enjoy doing research, that's why I am still thinking about getting PhD. Also, I really like working more than studying. If I start working now, then I will never pursue PhD, so I want to try to make sure that I didn't miss out anything.

[longshot]

You're GRE Q score is great, but that verbal score may scare some schools off. If you've got some free time this summer, you may want to take a practice GMAT and see how you do. Some find the verbal section on that exam easier than the GRE. If you can do 730+ on the GMAT, you may be better suited to apply with that.

[kuejai]

thanks guys for your suggestions

[kuejai]

Here is the list I have so far, can someone give me some suggestion?

Carnigie Mellon???
Iowa
Penn state
Colorado
Georgetown
Boston

Backup
U conn
UNC
Umass
Florida State Univ
UC Irvine