I have a question regarding PhD stipends. I see that many US programs (at least at places I've applied) provide fellowship/assistance for only four years of the program. Given that 6-year time period to graduation is becoming the norm in many schools, I was wondering how do students finance themselves?
4-5 years is standard from what I have heard. Some schools will push you through in 4, others state their program takes 5 years to complete. I have heard that anything that goes beyond 5 years is on the student.... meaning the student is responsible for not finishing "on time" and therefore has to support himself financially.
I would say that for marketing 5 years is the standard at this point. I know a lot of people who went for 6, but the majority is 5 (and I think there will be a push in the near term for a 5 year standard).
As far as funding goes, most programs will fund you through 5 unless otherwise stated. 6 gets a little sketchy, but generally the people I know who stayed for 6 were able to find funding, although it was through alternative forms than the normal PhD stipends (i.e. they had to teach a few classes their last semester). Don't worry about this at this point. If the school wants you to stay for 5 (and honestly the people I know who stayed for 6 did so because the school wanted them to) they'll find funding for you.
They almost always find funding for 5 (for example I plan to graduate in 5 and am not concerned in the least about funding even though my offer letter stated it was only guaranteed for 4).
Third year and have an eye to that sweet sweet Dr. Ares end of the road. Or beginning of the road, however you want to see it.
I was under the impression that 5 year is the norm, but when I look at finance job market candidates at few US schools (UCLA Anderson for example), I see that many of them entered the program in 2011 and are graduating in 2017.
Thank you very much for your responses. That was helpful!
For marketing, if you see the WWW survey, most people go on the market at the end of 4 years and graduate in 5 yrs. Schools generally want to place their students well and they find some sort of funding for you. I was funded by a research center and had to work for them for 7 hrs/week.
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