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standard2785 · 02-12-2007, 08:41 PM

Hello all...my professor actually mentioned this forum in class today

I wanted to ask the advice of those who have done what I hope to do, and that is get a PhD in Finance.

I go to a mid liberal art school, not reseach oriented. However, I have helped out with two research projects since I have been here at my university.

Overall GPA - 3.8
Finance GPA - 3.7

I hope to work for 2-3 years and then apply to a PhD program in Finance. I, like many here it seems, do not have the proper mathematics background but I will have an undergraduate degree in Finance.

In Math I have only taken Calc I-III and Linear Algebra. I plan on taking the Stanford Math Online (http://epgy.stanford.edu/courses/math/) namely these courses:

M53A Differential Equations
M106 Complex Analysis
M109 Modern Algebra
M115 Real Analysis
M131 Partial Differential Equations
M146 Point-Set Topology

I have taken the GMAT and have gotten a 770.

I also hope over these 2-3 years to work on some orginal research. I am very interested in topics ranging from behavorial toppics such as: Why do people tip? to corporate topics such as Why do firms issue equity?

The list of schools I would like to apply to in the order I like them:

HBS
Wharton
MIT (sloan) Financial Economics
Northwestern
U Maryland (MD)
NYU (Economics & Finance)
Boston College
Chicago (Finance & Economics)
Columbia (Finance/Economics)
Cornell
Duke
Virginia
Yale
Carnegie (Economics & Finance)
UNC
U Rohcester

My question is can I get into these programs and what can I do over the next couple of years to ensure I have a good shot. Do I have to add more schools for saefty or with my background should I at least get into some, if so which.

WallStGolfer31 · 02-12-2007, 09:40 PM

Your background looks very good. With a 770 GMAT and your GPA alone, I would say that's enough to get you into a top program. Just make sure you get good letters of reccomendation.

standard2785 · 02-12-2007, 11:26 PM

Thanks so much...what is meant buy a "good" letter of reference. My teacher is going to write on how I am indispenisble and he and she loves me more than their first born. I am analyticaly better prepared than they would be, etc. Is that good?

Also, which of those are my reach, good chance, and safety?

Also, what else can I do in the interim?

apropos · 02-12-2007, 11:57 PM

Why take all of those math courses unless they're required for your major. If you're not a math major, you should drop courses that give you only a marginal benefit for Finance Ph.D. study such as Abstract Algebra, Complex Analysis, or Point-Set Topology (a good Real Analysis course should cover the essential p.s.t. concepts). The math course selection should be fine as is, but if you have time, take analysis II (specially measure and intergration), optimization (linear and non-linear programming), some probability theory, and statistics.

BTW, I would also consider applying to UMN (both Economics and Finance Ph.D. programs) as they seem to have a decent program and an impressive placement record in Finance. For most applicants, it's probably hardly a safety school though.

tbroker · 02-13-2007, 12:15 AM

good profile

standard2785 · 02-13-2007, 12:36 AM

Quote:

Originally Posted by apropos

Why take all of those math courses unless they're required for your major. If you're not a math major, you should drop courses that give you only a marginal benefit for Finance Ph.D. study such as Abstract Algebra, Complex Analysis, or Point-Set Topology (a good Real Analysis course should cover the essential p.s.t. concepts). The math course selection should be fine as is, but if you have time, take analysis II (specially measure and intergration), optimization (linear and non-linear programming), some probability theory, and statistics.

BTW, I would also consider applying to UMN (both Economics and Finance Ph.D. programs) as they seem to have a decent program and an impressive placement record in Finance. For most applicants, it's probably hardly a safety school though.

those listed math courses are to be taken...which ones should I take out or add from the website from stanford...also would I have any chance at an econ phd? also which of those schools are my long shot, good shot out and safety

apropos · 02-13-2007, 12:37 AM

I have no idea regarding your chances. Ideally, ask someone who has worked on a Finance Ph.D. admissions committee. Regarding the math courses, I don't have the time and inclination to look through the catalogs of random universities. This is something you can do. But I can tell you measure and Lebesgue integration theory is important in theoretical finance and econometrics, and some Finance programs assume you have taken it or that you can learn it as you go. Statistics and probability are equally important to prepare for econometrics courses. Linear and non-linear programming is used a lot across many fields in economics, including first year theory courses.

standard2785 · 02-13-2007, 04:34 AM

Any one else have ideas?

Teazer · 02-13-2007, 09:47 AM

I think the general understanding is: Finance phds are very hard to get into. I am currently waiting with baited breath! Econ has more applicants but more places so perhaps a little less randomness in the results, perhaps more!
Certainly, take all the math you can, but analysis (compare what the course text is to Rudin's 'Principles' as a standard), linear algebra and PDE's jump out as the most useful. In fact, as you have some time, if you want to get fancy, you might take a look at physics/engineering courses too since they are more about applying the math and modeling. Looking around for some probability theory might be nice too. If you're going to the trouble of all those extra math classes, in the evening, try and get a masters degree while you're at it.

Might be handy to pick up some skills in eg Matlab, Maple if you haven't already, and as you say, get as much research xp as possible. Remember, you'll need 3 LORs, so you need to work on 2 more academics, preferably who will say how great you are at research!

wrt analysis again, have a go at Wharton's Summer course/admission requirement of analysis for Finance/Econ phds. That's an indication of what such programs expect you to know going in. There are a couple of practice tests on the waiver documents. http://www.econ.upenn.edu/Graduate/C.../897/2006_897/

02-12-2007, 08:41 PM	#1 (permalink)
standard2785 Eager! Join Date: Feb 2007 Posts: 59	PhD in Finance Hello all...my professor actually mentioned this forum in class today I wanted to ask the advice of those who have done what I hope to do, and that is get a PhD in Finance. I go to a mid liberal art school, not reseach oriented. However, I have helped out with two research projects since I have been here at my university. Overall GPA - 3.8 Finance GPA - 3.7 I hope to work for 2-3 years and then apply to a PhD program in Finance. I, like many here it seems, do not have the proper mathematics background but I will have an undergraduate degree in Finance. In Math I have only taken Calc I-III and Linear Algebra. I plan on taking the Stanford Math Online (http://epgy.stanford.edu/courses/math/) namely these courses: M53A Differential Equations M106 Complex Analysis M109 Modern Algebra M115 Real Analysis M131 Partial Differential Equations M146 Point-Set Topology I have taken the GMAT and have gotten a 770. I also hope over these 2-3 years to work on some orginal research. I am very interested in topics ranging from behavorial toppics such as: Why do people tip? to corporate topics such as Why do firms issue equity? The list of schools I would like to apply to in the order I like them: HBS Wharton MIT (sloan) Financial Economics Northwestern U Maryland (MD) NYU (Economics & Finance) Boston College Chicago (Finance & Economics) Columbia (Finance/Economics) Cornell Duke Virginia Yale Carnegie (Economics & Finance) UNC U Rohcester My question is can I get into these programs and what can I do over the next couple of years to ensure I have a good shot. Do I have to add more schools for saefty or with my background should I at least get into some, if so which.

02-13-2007, 12:15 AM	#5 (permalink)
tbroker Within my grasp! Join Date: Feb 2007 Posts: 147	good profile Last edited by tbroker : 02-13-2007 at 12:32 AM.

02-13-2007, 12:37 AM	#7 (permalink)
apropos TestMagic Guru-in-Training Join Date: Jan 2007 Posts: 766	I have no idea regarding your chances. Ideally, ask someone who has worked on a Finance Ph.D. admissions committee. Regarding the math courses, I don't have the time and inclination to look through the catalogs of random universities. This is something you can do. But I can tell you measure and Lebesgue integration theory is important in theoretical finance and econometrics, and some Finance programs assume you have taken it or that you can learn it as you go. Statistics and probability are equally important to prepare for econometrics courses. Linear and non-linear programming is used a lot across many fields in economics, including first year theory courses. Last edited by apropos : 02-13-2007 at 01:10 AM.

02-13-2007, 09:47 AM	#9 (permalink)
Teazer Eager! Join Date: Dec 2006 Location: USA Posts: 68	I think the general understanding is: Finance phds are very hard to get into. I am currently waiting with baited breath! Econ has more applicants but more places so perhaps a little less randomness in the results, perhaps more! Certainly, take all the math you can, but analysis (compare what the course text is to Rudin's 'Principles' as a standard), linear algebra and PDE's jump out as the most useful. In fact, as you have some time, if you want to get fancy, you might take a look at physics/engineering courses too since they are more about applying the math and modeling. Looking around for some probability theory might be nice too. If you're going to the trouble of all those extra math classes, in the evening, try and get a masters degree while you're at it. Might be handy to pick up some skills in eg Matlab, Maple if you haven't already, and as you say, get as much research xp as possible. Remember, you'll need 3 LORs, so you need to work on 2 more academics, preferably who will say how great you are at research! wrt analysis again, have a go at Wharton's Summer course/admission requirement of analysis for Finance/Econ phds. That's an indication of what such programs expect you to know going in. There are a couple of practice tests on the waiver documents. http://www.econ.upenn.edu/Graduate/C.../897/2006_897/ Last edited by Teazer : 02-13-2007 at 10:13 AM.

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02-12-2007, 09:40 PM	#2 (permalink)
WallStGolfer31 Trying to make mom and pop proud Join Date: Dec 2006 Posts: 18	Your background looks *very good*. With a 770 GMAT and your GPA alone, I would say that's enough to get you into a top program. Just make sure you get good letters of reccomendation.

02-12-2007, 11:26 PM	#3 (permalink)
standard2785 Eager! Join Date: Feb 2007 Posts: 59	Thanks so much...what is meant buy a "good" letter of reference. My teacher is going to write on how I am indispenisble and he and she loves me more than their first born. I am analyticaly better prepared than they would be, etc. Is that good? Also, which of those are my reach, good chance, and safety? Also, what else can I do in the interim?

02-12-2007, 11:57 PM	#4 (permalink)
apropos TestMagic Guru-in-Training Join Date: Jan 2007 Posts: 766	Why take all of those math courses unless they're required for your major. If you're not a math major, you should drop courses that give you only a marginal benefit for Finance Ph.D. study such as Abstract Algebra, Complex Analysis, or Point-Set Topology (a good Real Analysis course should cover the essential p.s.t. concepts). The math course selection should be fine as is, but if you have time, take analysis II (specially measure and intergration), optimization (linear and non-linear programming), some probability theory, and statistics. BTW, I would also consider applying to UMN (both Economics and Finance Ph.D. programs) as they seem to have a decent program and an impressive placement record in Finance. For most applicants, it's probably hardly a safety school though.

02-13-2007, 04:34 AM	#8 (permalink)
standard2785 Eager! Join Date: Feb 2007 Posts: 59	Any one else have ideas?

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