PhD finance : School feedback

[imran626]

@PhdFinanceAspi

I think Tippie and Smeal have good programs followed by Wisconsin.They are not top of the league but they are definitely under 50.

[shootermcgavin7]

Originally Posted by imran626

I have emailed and spoken to some people who have been related to the Phd program and the overwhelming opinion is that work ex don't count.

May I ask if this is the exact feedback you've received from the admissions committees at the five listed schools in the original post?
If not, your advice is particularly strong. Claiming, ad hoc, that work experience is useless is dangerous. Drop Alex Edmans an email and ask him to confirm this advice. My guess is that one of the top young theorists in finance will throw some praise towards "work experience".

[joetheplumber]

Originally Posted by shootermcgavin7

May I ask if this is the exact feedback you've received from the admissions committees at the five listed schools in the original post?
If not, your advice is particularly strong. Claiming, ad hoc, that work experience is useless is dangerous. Drop Alex Edmans an email and ask him to confirm this advice. My guess is that one of the top young theorists in finance will throw some praise towards "work experience".

I checked out his CV...looks like Edman's was an IB analyst at MS for 2 years. These jobs usually involve slaving over excel and powerpoint for 18 hours a day. Although a testament to work ethic, I think that such a position doesn't really prepare you much for academic research.

[longshot]

Originally Posted by joetheplumber

I checked out his CV...looks like Edman's was an IB analyst at MS for 2 years. These jobs usually involve slaving over excel and powerpoint for 18 hours a day. Although a testament to work ethic, I think that such a position doesn't really prepare you much for academic research.

The dates are what's crucial, Edman's took a summer associate position AFTER his first year at Sloan. Interesting approach, I wonder what his opinion is looking back.

[shootermcgavin7]

Originally Posted by joetheplumber

I checked out his CV...looks like Edman's was an IB analyst at MS for 2 years. These jobs usually involve slaving over excel and powerpoint for 18 hours a day. Although a testament to work ethic, I think that such a position doesn't really prepare you much for academic research.

Disclaimers & elaborations:

1) Alex was one of the most sought-after people on the job market two years ago. (maybe three years, my memory gets worse as I become an old man)

2) His job market experience, at least by his words, greatly benefits his academic research.






In the end, who knows? Obviously, the personal experience of Alex, a foreign national who was admitted at MIT, placed at Wharton, published in JF, and is a great conversation is irrelevant to some TM members.

I don't have such credentials, nor do many (or anyone) on testmagic, no matter how some members would prefer to trash a CV.
I'd pause before dismissing work experience, even if it is not directly related. Also, 18 hour days of monotonous work is not bad prep for the first two years of a PhD program.

[shootermcgavin7]

Originally Posted by longshot

The dates are what's crucial, Edman's took a summer associate position AFTER his first year at Sloan. Interesting approach, I wonder what his opinion is looking back.

He told me that his work exp was incredibly valuable.

[imran626]

Yea but this guy is an outlier..A good no. of people who are admitted into Phd programs have technology or engineering backgrounds ...A good no. of students come straight from undergrad...There are few opportunities of doing good research work in professional job...Not to say that there aren't people who have done some solid research while working..but most jobs are plain 9-5 money making ventures.

[shootermcgavin7]

Originally Posted by imran626

Yea but this guy is an outlier..A good no. of people who are admitted into Phd programs have technology or engineering backgrounds ..

So Top5 admissions committees have told you that work experience is worthless?

This was my original question.

[imran626]

Well I never said I have spoken to the people at Top5..I just emailed some people related to certain Phd programs and tried to find some info related to work-ex on the internet....and the "overwhelming opinion" and not the universal opinion is that work ex hardly count.The reason is that a lot of people who work in say technology or even finance are not doing any mathematical and theoretical work.They just doing good professional work. This is why we see a lot of Ivy league people straight out of school who are being accepted at some of the top Finance programs. Unfortunately, an Ivy league seems to matter the most if you look at the recent pool of admitted candidates.

Schools do accept a lot of people with work experience, but that's because these guys get a top league MBA after their professional life and they are accepted on the basis of their MBA.

Nevertheless, exceptional professional experience would always add weight to your application.

[Elisa Pandey]

imran626,

One more question I would like to ask u and hope u would reply.

Do you see any possibilities that I get admitted in Phd Finance Program in any of the US universities If I score 700+ in GMAT? And what about 650-700 score in GMAT?