PhD Finance - Profile Evaluation

[Icecold]

PhD Finance Profile Evaluation

PROFILE:
Type of Undergrad: B.S. Industrial Engineering, top university (Bogazici) in Turkey
Undergrad GPA: 3.14
Math Courses: Tons of them. Calculus I- II, Linear Algebra, Diff.Equation, Probability, Statistics, Linear-NonLinear Programming, Stochastic.
Relevant Courses: Micro-Macro Econ, Intermediate Micro, Accounting, Intro to Financial Enginnering (Modern Portfolio Theory, CAPM, Single Index, Derivatives Pricing)
GMAT: 730
Grad: N/A
Letters of Recommendation: Not solid, mostly on grades
Research Experience: Senior project -not published
Teaching Experience: N/A
Related Work Experience: Options Market Maker for a Trading House, research and trading algorithm development for a local FX Brokerage
Statement of Purpose: Standard, it conveys why I want to pursue a PhD degree, what my reasearch interests are and why I am fit for the program.
Research Interests: Derivatives Pricing, Behavioural Finance, Asset Management

Schools Applying: Harvard, Stanford, Chicago ...Kiddin' I don't believe I have a chance for admission into top 20 finance program. I may consider admission to European Schools - most of them requires a Master degree, however the priority is given to US/Canadian programs.

I appreciate any advice for schools in which I may have a good shot. To improve my profile, I am also looking for Msc/MA programs which may grant full funding(including stipend or RA-TA).

[Hadiran]

GPA 3.14? Without solid letters? Sorry to be harsh, but you need to adjust your expectation...

[Icecold]

Alright, what is your advice? I thought my expectation is already low, however you may help me to be more realistic.

[Hadiran]

You should really think about your 3.14 GPA, it is too low.. I think 3.9+ is perfect, 3.8 is very good, 3.6+is ok, 3.4+ is reluctant, 3.14... I don't know.
Maybe a master program is more reasonable, but keep in mind they will still look at your undergraduate record even when you have a master degree.

[phdhope]

I would agree with Hadrian. Adcomm groups look at the school and the GPA. I don't know anything about Bogazici, but I think most schools are going to discount the fact that it isn't a US college in the US. Your GPA is pretty low. GMAT is good. Coursework in engineering is ok not great. I would really strongly argue against applying to a finance phd program in the US. I would follow Hadrian's recommendation of getting a masters in the US to show that you can get good grades and perform well in the US college system and get letters of rec and boost your business background. I don't think finding full funding for a masters program is realistic however.

[longshot]

I think you could get funded from a decent MBA program. That's really all you need, as you already have the requisite math. Apply to a bunch of schools with low MBA GMAT averages (like 500-600) and see who funds you. Complete the program, do well, get some good letters, and you're golden.