Please provide your sincere advice:

[PhD-world]

Dear Experienced Profile evaluators/Admission Consultants/forum members:

I want to get into a PhD program in any of following areas:

-Management
-Organizational Behavior
-Strategy or strategic management
-Economics or financial economics or Business economics
-Finance (I know this is most competitive and high-demand program)

My profile is, I would say after looking at some of the candidates, very ordinary. It is here:
-Four years of experience in Management Consulting with Fortune 500 clients where mostly clients were Banks and Financial Institutions
-Masters of Business Admisntration (One year completed only-Left MBA incomplete because got job)
-Bachelor of Business; A grade
-GMAT: 760
-GRE: 1450 (Verbal: 700-Quant: 750)

Nowdays taking Maths courses to strenthen my profile and show competency to admission officers in Maths. These courses are from a state university. Following are the courses:

-Analytic Geometry and Calculus I
-Analytic Geometry and Calculus II
-Multidimensional Calculus
-Linear Algebra
-Partial Differentiation

After review of my profile, experience, scores, please advice which universities are most likely to consider me. Thanks you so much in advance.

[zzleeper]

I can only speak regarding finance, and not that much:
- Getting into a top finance program is quite difficult to say the least, and a 750 GRE probably looks bad.
- You forgot the most important variable, the letters of recommendation. Who are they? You need 2-3 professors to vouch enthusiastically for you. Even better, having LoR's from well known professors (at least to the AdCom.) is almost a must.
- It's good to take math courses, but try to take something like graduate level real analysis or stochastic proc., specially for finance.
- What are your research interests? What topic do you want to analyze and research about?

Now, a honest question you need to ask yourself is why do you want a PhD. This question is REALLY important and many people fail to think it well. You are going to invest 5 years of your life doing research, learn new skills that are almost only applicable in academia, and even then, with an uphill battle for tenure. I know that my reply seems a bit harsh, but I'm just trying to be helpful (not trying to discourage you from pursuing a phd if that is what you really want).

Best,
zz

[PhD-world]

I can only speak regarding finance, and not that much:
- Getting into a top finance program is quite difficult to say the least, and a 750 GRE probably looks bad.
- You forgot the most important variable, the letters of recommendation. Who are they? You need 2-3 professors to vouch enthusiastically for you. Even better, having LoR's from well known professors (at least to the AdCom.) is almost a must.
- It's good to take math courses, but try to take something like graduate level real analysis or stochastic proc., specially for finance.
- What are your research interests? What topic do you want to analyze and research about?

Now, a honest question you need to ask yourself is why do you want a PhD. This question is REALLY important and many people fail to think it well. You are going to invest 5 years of your life doing research, learn new skills that are almost only applicable in academia, and even then, with an uphill battle for tenure. I know that my reply seems a bit harsh, but I'm just trying to be helpful (not trying to discourage you from pursuing a phd if that is what you really want).

Best,
zz

First of all, I will thank you for paying attention on my situation. I forgot to mention about statement of purpose and recemondation letters. I have three recemondation letters and a great SOP. Recemondation letters are average but from reputed faculty members (not from a economist or nobel prize winner)

WHY I WANT TO GET IN PhD PROGRAM?

-Deep interest in research: During my undergrad and partial MBA, there were lots of areas where I wanted to explore further but because of the limitation of curriculam I couldn't further explore those areas. For example, in finance classes, The topic "Capital restructuring" talks about a famous method known as Miller-Modigiliani Approach, as it was founded by a person with last name Miller. In this apprach certain variables are given in a situation but in my opinion certain tests must be apply on this approach in perspective of BASEL II and other capital regulatory requirements especially after the Collapse of Lehman Brothers and Mortgage banking crisis which happend in last 2-3 years, primarily in United States and other parts of the World. This is just one area and I feel there are dozens of areas where I couldn't explore further due to limited curriculam of MBA and undergraduate studies.

-Great Acedemic interest in areas of Business ranging from Strategy to Finance: I am passionately interested in working acdemically on various topics and areas and learn how to develop a well reasoned are of knowldege.

- Attitude to be successful in Acedemia: Teaching something has been my favorite skill. I always showed keen interest to teach others about the areas where I am working or area which they need to know certain things.

Above are three most important reasons that why I want to get it PhD program and spend five most imporatnt years of my life.

If it is finance PhD then area will be Asset pricing and Corporate finance or one of them.

[zzleeper]

I just got admitted into a quite good finance program, and I learned a few things down the road. Let my try to share them with you:

• Be careful about teaching. Academia is NOT about teaching but about research. I also love to teach, but you kinda need to downplay that stuff in the SoPs.
• Pay a lot of attention to details. For instance, your SoP and CV need to be immaculate; and even stuff like your AWA matters. If I were you, I would retake my GRE and try to reach at least 780.
• Be realistic with your chances. Competition for top finance programs is very hard, specially if you don't come from the US. Aiming for some good European places may be a good way to hedge your bets.
• The usual question will arise: why are you trying to get into academia after four years of consulting? Specially in downturns, the adcom will suspect that its because of a difficult job market. They may also question your perseverance regarding the incomplete MBA.
• Regarding your SoP: Be frank. The adcom will spot any BS from a mile away. They won't be unimpressed by your knowledge of the M&M Theorem or of Basel II. Also, be aware that academic papers tend to be very dry and full of math, they are VERY different from what you read at an MBA (eg: Bodie-Kane-Marcus). When I did my masters in finance, a few friends with business/accounting undergrad got really burned out with the amount of math and technicalities.

Anyways, good luck with your search; I just want you to be aware that the road ahead is hard and that you should be prepared. In any case, always consider other alternatives, such as masters program (specially in Europe as they are cheaper here. Eg: BGSE).

Cheers,
zz

[PhD-world]

I just got admitted into a quite good finance program, and I learned a few things down the road. Let my try to share them with you:

• Be careful about teaching. Academia is NOT about teaching but about research. I also love to teach, but you kinda need to downplay that stuff in the SoPs.
• Pay a lot of attention to details. For instance, your SoP and CV need to be immaculate; and even stuff like your AWA matters. If I were you, I would retake my GRE and try to reach at least 780.
• Be realistic with your chances. Competition for top finance programs is very hard, specially if you don't come from the US. Aiming for some good European places may be a good way to hedge your bets.
• The usual question will arise: why are you trying to get into academia after four years of consulting? Specially in downturns, the adcom will suspect that its because of a difficult job market. They may also question your perseverance regarding the incomplete MBA.
• Regarding your SoP: Be frank. The adcom will spot any BS from a mile away. They won't be unimpressed by your knowledge of the M&M Theorem or of Basel II. Also, be aware that academic papers tend to be very dry and full of math, they are VERY different from what you read at an MBA (eg: Bodie-Kane-Marcus). When I did my masters in finance, a few friends with business/accounting undergrad got really burned out with the amount of math and technicalities.

Anyways, good luck with your search; I just want you to be aware that the road ahead is hard and that you should be prepared. In any case, always consider other alternatives, such as masters program (specially in Europe as they are cheaper here. Eg: BGSE).

Cheers,
zz

Thank you so much for you sincere advice. I am also hedging my career risk through considering some masters program. Recently I got admitted on an Executive MS program (weekend classes) at George Washington University, Washington, D.C. though that admission letter was valid for a specific semester but I am confident that in case of no other option such as PhD, The George Washington University's MS option will be an option for me. Good thing is that I will be able to keep my job due to the nature of this program but it is a last option for me. I don't know much more about the ranking, reputation of George Washington University but I do know that this is a GOOD university in case if nobody welcomes me for PhD. As far as the GRE/GMAT score is concerned, I am also thinking to retake and score better in quant; like you said it very well-at least 780. But my concern is - Which universities are most likely to welcome me for Business research program?

[capital_structure]

George Washington Univeristy "Excecutive Ms Program" will get you almost nowhere in PhD Finance applications to good schools UNLESS it is STRONGLY quant oriented like financial engineering and financial mathematics programs. Those programs are very expensive. Also, executive programs are not looked well since they are easier in general. A good masters would be MA Economics, MA Math/Stats, Masters Finance- Quant focus, Masters in Engineering (if you had a engineering undergrad-maybe).
Your GRE quant score will hurt you. Use your GMAT score, it's good assuming your quant score was high. There is a very good review of the GWU Ms Finance program (not executive) on QuantNet website.
The other point that will hurt you is the incomplete MBA. The reason it will hurt you a lot is because you left it for a job. You need some really strong math classes with high grades in them at the post-graduate and high undergraduate level.

I am not saying you WON'T get into a PhD Finance program, I am just saying getting into a top program will be very hard if not impossible considering the competition. There will be students with 3-4 publications, MS Math/Stats/Econ/Financial Engineering, Undergrad Stats/Math/Engineering/Econ from big name schools.

If just you want a PhD Finance, apply to low tier schools and european/canadian schools. I think you will get in somewhere. The consulting experience won't help either as it will almost be completely discounted.

Sorry don't mean to sound harsh, but that is the truth and I am sure majority will agree with me.

[PhD-world]

George Washington Univeristy "Excecutive Ms Program" will get you almost nowhere in PhD Finance applications to good schools UNLESS it is STRONGLY quant oriented like financial engineering and financial mathematics programs. Those programs are very expensive. Also, executive programs are not looked well since they are easier in general. A good masters would be MA Economics, MA Math/Stats, Masters Finance- Quant focus, Masters in Engineering (if you had a engineering undergrad-maybe).
Your GRE quant score will hurt you. Use your GMAT score, it's good assuming your quant score was high. There is a very good review of the GWU Ms Finance program (not executive) on QuantNet website.
The other point that will hurt you is the incomplete MBA. The reason it will hurt you a lot is because you left it for a job. You need some really strong math classes with high grades in them at the post-graduate and high undergraduate level.

I am not saying you WON'T get into a PhD Finance program, I am just saying getting into a top program will be very hard if not impossible considering the competition. There will be students with 3-4 publications, MS Math/Stats/Econ/Financial Engineering, Undergrad Stats/Math/Engineering/Econ from big name schools.

If just you want a PhD Finance, apply to low tier schools and european/canadian schools. I think you will get in somewhere. The consulting experience won't help either as it will almost be completely discounted.

Sorry don't mean to sound harsh, but that is the truth and I am sure majority will agree with me.

Thank you so much for your attention on my situation. Don't be sorry about whatever you said. I needed a critical evaluation and that's the purpose to be on forum. I completely agree with you about competition, view of Admission comittee while evaluating candidates fo PhD finance and profile of other applicants. The only GAP is that GW-MS program is an option in case of failure to get into PhD program. In my post I NEVER said that this GW-MS program will help me to get into PhD program. Your post was based on faulty assumption as if I said that GW-MS program will become my strength in PhD application rather I said that this is one option in case of failure to get admission into PhD.

[capital_structure]

Understandable. I figured you might want to at some point after.

Here is a review of the GW-Ms Program from a graduate. It will give you an idea of the program. I would suggest with your experience you would qualify for stronger MS Finance programs actually if that is a route you're also thinking about.

Review of George Washington University’s Master in Finance program | Quant Network

[phdhope]

May I ask where you went for your undergrad and mba and where you got your work experience?

[PhD-world]

May I ask where you went for your undergrad and mba and where you got your work experience?

Work experience:
The World Bank, Washington, D.C.
International Finance Corporation, Washington, D.C.
Inter-American Development Bank, Washington, D.C.
District of Columbia Government, Washington, D.C.
National Community reinvestment Coalition, Washington, DC
The Royal Bank of Scotland (Citizens Bank) Providence, R.I

Masters of Business Adminsitration (Georgetown University, Washington, D.C.)
Bachelor of Business (Georgetown University, Washington, D.C.)