MS Statistics to Prepare for PhD in Finance: Please Guide Me

[babubangla]

I am interested in doing PhD in Finance. To strengthen my quantitative background, I want to study in a MS Statistics program. I was looking at the MS Statistics program at a third-tier university (Texas Tech University). Will MS in Statistics from Texas Tech be helpful in getting admission to a Top 30 to 50 ranked Finance PhD program?

I am also confused whether I should go for MS Statistics in Texas Tech or try for a better second-tier out of state school (University of Connecticut or Michigan State or University of Nebraska-Lincoln). Texas Tech is beneficial to me due to in-state tuition opportunity. Does it make any difference for PhD Finance admission if I get MS Statistics from a second-tier university instead of a third-tier one?

MS Statistics in a first-tier school is not an option for me at this moment. My quantitative background is very weak and I am out of school for 5/6 years now. At this moment, I do not even have the mathematical background required for MS Statistics program. However, some schools allow applicants to make-up prerequisite deficiencies after admission into their MS Statistics Program. I am planning to take that path.

I would highly appreciate your feedback on this.

[EE570]

My suggestion would be to try to find a research based masters program. I believe a MS in stats will probably help you, but if you can get into a program that has say a MS thesis option or some other research based component then you should do that. I think that if you can get some research XP along with some advanced quantitative courses, then you should be in good shape.

Good luck.