Evaluate please chances in accounting

[TaxGal]

Hey all, as I'm trying to get everything perfect for this fall and application season I need some advice to give me the best shot at getting an acceptance next year so I will give all info I can think of.

Caucasian female from US

gmat: 690 (retaking in may since took under bad conditions)

gpa: 3.78

undergrad: bs accounting BBA finance

Work: will have nearly 3yrs as tax accountant by time program starts. Small partnership.

Certs: CPA

Classes: elementary calc( bad I know) , micro and macro Econ, finance classes using regressions, elementary econometrics?(wasn't called this was called stats for finance)

 

My biggest weaknesses are no research or TA or written papers so I'm worried about getting recs. My school didn't offer RA or TA for undergrads despite being a flagship university and having a top 50 phd program. And my other glaring weakness is math. For math I was wondering if anyone knows how coursera certificates are viewed or if I need to suck it up and pay $1,200 for an online calc class. I should be able to get through calc 1 before applications are due and calc 2 before I start.

 

I also feel feel confident in increasing my gmat above 700 and am aiming for 730. I took it under terrible conditions since the procter made me take off my sweater making me so cold I couldn't concentrate and then not realeasing me for a break until 4 minutes into the first one and not even releasing me at all for my second break. So I ask that I be evaluated on the 690 and a 720 at least.

 

I'm still deciding on a research topic but am leaning toward mainly empirical financial with some analytical and maybe tax relating to financial statements. I like shareholder questions and how events effect how corps prepare public financial documents. My dream school is Cornell then I'm looking at Indiana, Illinois, Florida, Pittsburg, Penn State, Rochester, OSU. Trying to stay east and low cost of living since having 4 dogs means I'll 99% need to buy instead of rent.

[taxPhD]

You've already pointed out a lot of the pros and cons...but here is how I'd summarize, and then I provide some specific advice below.

 

Pros: GMAT (if you get it 700+ as anticipated, given you're at 690 in bad conditions I think you'll get there), solid undergrad GPA, accounting work experience, CPA

 

Cons: Quantitative prep and research experience

 

Suggestions for quant and research:

Quantitative prep: I certainly wouldn't pay $1,200 for an online course. I think coursera and such is viewed just fine for showing that you are committed to improving your quant skills. If you want something more structured/formal maybe look at your local community college. I'd think you can find a formal course for far less than $1,200 is that's the route you are wanting to go. Also, try to think about other courses in college that could also signal your quantitative ability. Did you take something like a calc based physics class or something that can also help highlight that you can manage quantitative rigor?

 

Research: This is the biggest perceived (from the applicants perspective) weakness in most folk's applications. The vast vast majority of PhD in accounting applicants have zero meaningful exposure to accounting research. So you aren't all that far behind the eight ball here. You say you studied at a flagship university with a solid PhD program. Not sure if you still live around your alma mater, but I would recommend reaching out to some of the professors you had there and see if any of them would be willing to sit down for coffee or something to talk about doing a PhD. If you aren't geographically close, then see if someone would maybe be willing to talk on the phone. This will get you back into their minds (which will help your recommendation letters) and could also potentially get you an "in" for getting some research exposure. Again, if you still live in the area of your alma mater, maybe you can start attending some of their research workshops. Also, start digging around in the top journals (JAE, JAR, TAR as top 3s...then also CAR, RAST, AOS, plus JATA and NTJ if interested in tax). You aren't expected to fully comprehend what all of these papers are doing, but reading some introductions will help to start formulate some more concrete research interests.

 

Where to apply: Cornell doesn't fit with what you've said so far. If you wanted to do behavioral/experimental work, Cornell would be your place. But if you're thinking archival and maybe analytical, then Cornell is not a good fit. Likewise, Cornell is not a good fit for tax. Indiana and Illinois have good folks in pretty much all areas and methods, their faculties are huge. Pitt is more well-known for experimental work. Penn State is primarily financial archival. Rochester is almost exclusively financial archival. Ohio State is mostly financial archival.

[TaxGal]

I should've been more clear my main interest is experimenta but I'm also an analytical person and would like to go somewhere that doesn't completely shut that out. So Cornell as my top fits because of their awesome experimental group they are worth not having analytical focuses. The others each have professors or research that interest me in some way and I know I need to apply broadly so that's why the list is kinda big.

 

I'm 3 hours away from my alma mater or any school that does research for that matter so getting a small gig is hard. I would like to reach out to professors though and get some advice plus rapport for a letter later on but I've been told that I shouldn't do that and I should just email them around October asking for letters because professors don't want to be buggged months ahead and 2 months is standard so what's your take on that advice? Also do I have a shot at these schools or am I aiming too high I don't want to get shut out.

[taxPhD]

I think contacting some folks in October would be too late if you are looking for anything more than just a letter. If you are hoping to get some advice on preparing your for the PhD program, selecting schools to apply to, etc. then you will want to reach out to people before October of your application year.

 

That said, I certainly wouldn't blast off an email to every accounting professor at your undergrad institution looking for advice. Are there 1 or 2 that you think would at least remember you? Or 1 or 2 that have research interests that align with what you are thinking you want to do right now? If there are, I would try and reach out and let them know that you did undergrad at that school, etc etc and that you are thinking about pursuing a PhD. Tell them you want to prepare as much as possible, so you would like their advice on preparing for the quantitative rigor, getting some insight into research, etc.

 

In terms of schools...if you get a 700+ on the GMAT, I think you are at least competitive at most schools. That 700 GMAT is what a lot of schools look at as their first cut of the applicant pool. I tell people to plan on applying to 10-15 schools. I recommend that people try and maybe pick 2-3 "dream" schools, 6-10 schools you are a competitive applicant for, and 2-3 "safety" schools. I say "safety" because even the less prestigious doctoral programs are still very competitive. Others may differ on their advice here.