Advice for improving profile (finance Phd)

[lebrute]

I am planning on applying this winter for fall 2010 admission.

Undergrad: dual major in Business Admin and Economics from regional state university - GPA around 3.6, GPA in business admin and econ major between 3.8 and 3.9 - took all the standard business and econ courses, including intermediate micro/macro

Grad: MBA with finance emphasis from regional state university. Two classes left before graduation. Courses in financial markets, portfolio theory, capital budgeting, international finance. 4.0 GPA to date

Math courses: Calc I (A), Calc II (A), Calc III (A), Linear Algebra (in progress), calc based probability (next semester) - all through UIUC netmath program. undergrad GPA does not include these math courses.

GMAT - took in 2006 prior to MBA admission without any preparation. Scored 690, 90+% in verbal but only 75th% in quant. Took GRE in summer 2007 after preparation and scored 760 on quant portion. Will retake GMAT this fall yet with prep and should score significantly higher (mid 700s).

letter of reference - one business and two economic professors, should be solid but no big name recognition

My goal schools right now are a mix of Oregon, Kentucky, Colorado, Arizona State, UNC, Wisconsin, Minnesota, etc. Looking at middle of the pack. I am a bit older (will be 29 when enrolling) and have a family as well, so cost of living, stipend, insurance, etc. is a big factor as well. Preferably west coast/east cost.

Any suggestions on my profile and how I could improve it (beyond retaking GMAT, finishing math classes, and securing my LORs)? I won't be submitting my GRE scores - I did well on Q but bombed verbal (which is funny since it was the opposite on the GMAT).

[longshot]

You'll need to narrow down what you want to do in a PhD program. UNC, for example, is big in asset pricing, so they'll prefer applicants with more advanced math skills. I'm not really familiar with the rest of your choices, but keep in mind that Minnesota, Wisconsin, ASU, and UNC are top 30 programs in finance. That's not really "middle of the pack." I'd stack up more schools like Colorado, Oregon, and Kentucky (Alabama, Missouri, Oklahoma, FSU, UGA, S. Carolina, Kansas, TAMU, TTU, Tennessee, VT, etc)

[phdhope]

As noted elsewhere, I am not a finance phd so take my improvement ideas with a grain of salt. I would recommend trying to get a research opportunity or simply reading up on finance research. Make sure to maintain good ties with your letter of reference, name is not as important as what they write about you sometimes. Other than that I would try to find out as much abou the schools and professors at the school as possible.

[lebrute]

Thanks for the feedback.

Longshot - I should have been more clear. I would have put WI/MN as my reach schools. I didn't realize UNC was ranked that high, but it would probably be a reach as well.

phdhope - Since there is only about 3 months until applications are due, and I work full time (plus finishing my masters), I don't think I'll have the opportunity to do anything relevant research-wise. But the rest of your advice is very helpful. Thanks!

[rupantor]

You may want to look at a few articles (just the abstract, intro and conclusions sections). It will help you to talk about your research interests in statement of purpose.

[lebrute]

Will schools factor in my old GMAT score if I improve (or even go down)?

690 isn't a bad score, but I'm very comfortable I can pull it up a bit (I did not study at all the first time).

Based on my target schools, is it worth re-taking? As I mentioned, my quant score was lower (somewhere around 76th percentile).

[lebrute]

ShooterMcGavin - not sure if you still post around here, but if so I would really enjoy the benefit of your thoughts.


I would like everyone to note that I am not a recent convert to the idea of the finance phd and have been prepping to go for a few years now.