Steve123 Posted October 19, 2014 Share Posted October 19, 2014 Hi guys, I am trying to apply for mid-tier (rank 30-50) US PhD in Finance programs focus in corporate finance and corporate valuation. I would be very grateful if anyone could give me some feedback on my profile. Thank you very much in advance !!! Undergrad: GPA: 3.78, Magna Cum Laude, Major in Finance Grad: GPA: 3.87, MS in Finance, Investment Management Passed the CFA level 2 exam in June 2014 and will take the CFA level 3 next June. GMAT: 690 (Q50, V31, 87 Percentile) Math: Calculus I, Statistic 1 & 2, Financial Econometric, Financial Time Series, Quantitative Portfolio, Asset Pricing. Experience: Lead analyst at my undergrad investment fund, one intern with a private equity firm and one intern with a venture capital firm. Research: Did two researches about the Tech/Media/Telecom industry in my venture capital intern, represented my school to participate in the CFA Research Challenge and was ranked 2nd in my region. Publications: None Letter of Recommendation: one from the academic director of my grad degree, one from the associate professor of my grad school and one from the associate professor in my undergrad ( they all know me very well and I think I can receive good recommendation letters from them) Hope that I didn't miss anything. My current worries are: 1. My GMAT score, which was taken two days ago (Oct 17) and didn't pass the 700 benchmark. Do you guys think that there is a different between a 700 and 690? This is my fifth GMAT exam and it is really a nightmare for me. Though I can take it again, do you think that having 6 GMAT scores on the report will effect my application? 2. I have taken quite a few Stat courses but only Calculus I in math. Will this effect my application even though I am applying for corporate finance PhD programs? 3. I know that my research experience is not academic research but that is all I have. I am very sorry if they are irrelevant. 4. My current programs list incudes Temple University, Drexel University, Georgia State University, University of Georgia, Florida State University, Rutgers University. Do you guys think I have a shot in those schools? Could you please recommend some more programs that fit with my application? That being said, any input would be greatly appreciated. Thank you very much guys !!!:victorious::victorious::victorious: Quote Link to comment Share on other sites More sharing options...
evergreen Posted October 19, 2014 Share Posted October 19, 2014 1. Yes huge difference between 690 and 700. I think there is a strong negative signal from taking 5 GMATs. The marginal negative signal from a sixth one is probably minimal. 2. Not a finance guy, but I do anticipate the fact that you've only taken Calc 1 to be a problem. 3. I'm sorry too. 4. No idea, a finance guy can answer that. Quote Link to comment Share on other sites More sharing options...
XanthusARES Posted October 19, 2014 Share Posted October 19, 2014 1. Yes huge difference between 690 and 700. I think there is a strong negative signal from taking 5 GMATs. The marginal negative signal from a sixth one is probably minimal. 2. Not a finance guy, but I do anticipate the fact that you've only taken Calc 1 to be a problem. 3. I'm sorry too. 4. No idea, a finance guy can answer that. Also not a finance guy, but this is what I would have said. The only thing that I do have to add is GMAT reports only 5 scores (at least that is how they used to do it). So any attempt you make over 5, drops the most distant score off. Although now that I think of it, the report may only show your last 3 attempts. Anyway, my point is this, I don't think that there will be any issues if you take it again (at least not noticeable issues). As for the rest of your questions, someone in finance will have to answer those. Quote Link to comment Share on other sites More sharing options...
daffodil5435 Posted October 19, 2014 Share Posted October 19, 2014 1. My GMAT score, which was taken two days ago (Oct 17) and didn't pass the 700 benchmark. Do you guys think that there is a different between a 700 and 690? This is my fifth GMAT exam and it is really a nightmare for me. Though I can take it again, do you think that having 6 GMAT scores on the report will effect my application? Why don't you try the GRE. Most (about 95%) of schools will accept the GRE. 2. I have taken quite a few Stat courses but only Calculus I in math. Will this effect my application even though I am applying for corporate finance PhD programs? Yes, you'll still have to clear the comps which are pretty quant intensive. 4. My current programs list incudes Temple University, Drexel University, Georgia State University, University of Georgia, Florida State University, Rutgers University. Do you guys think I have a shot in those schools? Could you please recommend some more programs that fit with my application? Unv. of Pittsburgh is corporate finance heavy and will fall in your range of schools. Quote Link to comment Share on other sites More sharing options...
AppInfo Posted October 19, 2014 Share Posted October 19, 2014 Why don't you try the GRE. Most (about 95%) of schools will accept the GRE. This is probably a very good idea. Quote Link to comment Share on other sites More sharing options...
wittmic Posted October 19, 2014 Share Posted October 19, 2014 I think you're getting good advice. I would add a few things. First, if you want to matriculate next year, I'm not sure you have time to retake the GMAT, and I definitely don't think you have time to prepare for the GRE (which has a much more difficult verbal section with all the vocabulary you need to know) and take it before you need to get your apps in. Next, I think this list encompasses my thoughts about your application: 1. Apply very broadly, even to programs outside the "top 50" (if you definitely want to matriculate next academic year) that have faculty that do research you are interested in. 2. Not crossing the 700 mark will be a barrier some places, but if you follow point number 1 here, you should be ok with that score. 3. Not having anything above calc 1 will make your life very challenging. Even at a department tilted toward corporate (I am in such a department), you will take the entire micro and metrics series, as well as all of the asset pricing seminars, have to take core exams that have asset pricing questions and most importantly, have to understand asset pricing papers (even though you want to do corporate finance research). Also, some people might not know this, but corporate theory has plenty of optimization in it as well, so you better know calculus/math in general. (Corporate finance research isn't just a piece of cake.) So either take these courses online or self study, because you will need the material. There's also a strong chance that an admission committee is not going to feel super strongly about an applicant that doesn't have calc 2 or 3. Again this leads to point number 1. Quote Link to comment Share on other sites More sharing options...
Steve123 Posted October 20, 2014 Author Share Posted October 20, 2014 Thank you very much guys! I will definitely take the GMAT again. I think I can do better in Verbal next time since I was very distracted in the last test and got tumble in the last 15 minutes. I don't think I have time to study another test all over again (GRE) since the death lines of most of the school that I apply for are around Jan 15th. Therefore, I believe my best shot would be take the GMAT again at the end of Oct and start to apply afterward. FYI, this is the first time I take the GMAT this year, the other time was mostly last year, when I was trying to apply for my Master degree. I think you're getting good advice. I would add a few things. First, if you want to matriculate next year, I'm not sure you have time to retake the GMAT, and I definitely don't think you have time to prepare for the GRE (which has a much more difficult verbal section with all the vocabulary you need to know) and take it before you need to get your apps in. Next, I think this list encompasses my thoughts about your application: 1. Apply very broadly, even to programs outside the "top 50" (if you definitely want to matriculate next academic year) that have faculty that do research you are interested in. 2. Not crossing the 700 mark will be a barrier some places, but if you follow point number 1 here, you should be ok with that score. 3. Not having anything above calc 1 will make your life very challenging. Even at a department tilted toward corporate (I am in such a department), you will take the entire micro and metrics series, as well as all of the asset pricing seminars, have to take core exams that have asset pricing questions and most importantly, have to understand asset pricing papers (even though you want to do corporate finance research). Also, some people might not know this, but corporate theory has plenty of optimization in it as well, so you better know calculus/math in general. (Corporate finance research isn't just a piece of cake.) So either take these courses online or self study, because you will need the material. There's also a strong chance that an admission committee is not going to feel super strongly about an applicant that doesn't have calc 2 or 3. Again this leads to point number 1. Hi wittmic, thank you very much for such helpful tips. By self study or taking those math courses online, is there anyway I can prove to the adcom that I am taking them? or it is just for my benefit later in the program. The reason I am asking is because if I take them from an online institution (so that I have proof of my grade), that will take a lot of time to clear Cal 2, Cal 3, Linear Algebra and Differential Cal. I guess my best bet is self study those courses and mention about it in my SOP. Will that be ok? Quote Link to comment Share on other sites More sharing options...
wittmic Posted October 20, 2014 Share Posted October 20, 2014 Hi wittmic, thank you very much for such helpful tips. By self study or taking those math courses online, is there anyway I can prove to the adcom that I am taking them? or it is just for my benefit later in the program. The reason I am asking is because if I take them from an online institution (so that I have proof of my grade), that will take a lot of time to clear Cal 2, Cal 3, Linear Algebra and Differential Cal. I guess my best bet is self study those courses and mention about it in my SOP. Will that be ok? I think that's all you can do. I meant you just want to have a grasp on the material before you start, otherwise it will be a very uphill battle. Good luck! Quote Link to comment Share on other sites More sharing options...
Steve123 Posted October 20, 2014 Author Share Posted October 20, 2014 Guys, thank you very much for all the replies !!! Quote Link to comment Share on other sites More sharing options...
TraderJoe Posted October 21, 2014 Share Posted October 21, 2014 Your education and GPA looks good for the schools ranked 20 - 50. However, with your Math background, you will have a really tough time with the Economics courses. You have to take Micro sequence, Macro sequence, and Econometrics sequence. Plus probably also a couple of courses in Game Theory. You would be in day-to-day survival mode for the first two years of the PhD program even if you do get in a good school. Try to beef up your Math as much as possible in the few months you have left before you start the PhD program. I am not kidding. You will go into deep shock once you are in the program. Quote Link to comment Share on other sites More sharing options...
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