Previous Graduate Work

[WallStGolfer31]

I'm looking to do a PhD in Finance

Holding all else constant, how much will graduate work (let's say a masters in economics) add to the competitiveness of my finance phd application?

[Teazer]

It depends on the rest of your profile. For instance if you have some dodgy undergraduate grades, have been out of education for a while, are coming from a less mathematical field or were at some unknown U/G program it can be helpful, particularly if it involves research opportunities and may get access to academic LOR's if you don't have those.

Keep in mind though that for eg economics, it may be considered that other than as an opportunity to show ability, you won't be bringing much extra to their program since pretty much the same material gets taught over the first year in greater detail.
Given the chance to start all over I'd go for an MS in engineering or physics, or failing that, statistics or mathematics.

[shootermcgavin7]

Originally Posted by WallStGolfer31

I'm looking to do a PhD in Finance

Holding all else constant, how much will graduate work (let's say a masters in economics) add to the competitiveness of my finance phd application?

Some sort of economics background helps with a Finance PhD, the first year classes are virtually indentical.

As another poster has said, it depends on the rest of your profile - if you don't have much of a math background, that would be a priority.

[babubangla]

Originally Posted by Teazer

Given the chance to start all over I'd go for an MS in engineering or physics, or failing that, statistics or mathematics.

"Program A" provides option to take a good number of math courses (6 undergrad and 5 grad level), but ranked fourth tier.

"Program B" provides option to take some math courses (3 undergrad and 3 grad level) and ranked second tier.

For a student with very weak math background, which MS would be the better option for future Finance PhD admission?

[shootermcgavin7]

Depends on the math background. If you have an Intro Linear class, and Calc I - III; you really only need two more to get into a decent school (an proof-level Linear Class, and Real Analysis I).

I would take a better program as long as they let me take 2-3 classes. Depending on the quality of the MS program, you will pick up any additional stochastic calc, partial DiffEq, etc along the way.


NB: If you need a lot more math then this advice is not relevant.

[Teazer]

C.P., I would go for the 2nd tier school + take a bunch of additional U/G or grad math classes during the summer before/during the program. If need be, look into online programs for these courses. That'll make up the difference in numbers easily & you'll get better prestige & quality of teaching.

A few other ideas if you're really certain you want to do a phd:
I would also suggest before starting an MS, to read the LOR forms at a few phd programs to see what they are expecting your references to say about you. It's easier to get them all to think highly of you at the start of the program.
Wherever you go to, try & get a research assistantship, & be proactive talking to faculty about any other research xp available. It's a far better use of time than grading papers!