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pqhai

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Everything posted by pqhai

  1. pqhai
    Many schools just finished recruiting season for new faculties. As in my department, they just sent out job offer last week. This time schools usually send rejections for those who do not pass the first cut. For those who are being considered, you still have big chances. Don't need to worry. A lot of interview emails will be sent in late February and early March.
  2. pqhai
    pigalore, it's hard to suggest. The matter of fit is more important than ranking, please be noted that. If you choose a school that you think is low/safe, but faculties there are not interested in your research interests. Then, it becomes not safe anymore. My advice is to do your own research for schools you feel that you got a chance to get in, search faculties' profile and see if their research fits your interest. Then, eliminate schools that don't fit. It may take time, but I strongly believe it's worth.
  3. pqhai
    I see some applicants applied successfully to some "low" ranking Ph.D. finance programs in the U.S. Please be noted that the definition of "low ranking" is vague. It might be low to someone, but high to the others. You can search on Finance research rankings | W. P. Carey School of Business choose Finance ranking, then click range "All". You might be able to find some schools that fit your profile. Anyway, I don't know why you got 32 GRE? Do you mean 320?
  4. pqhai
    I second BrazilianPhD that if you are comfortable with both GRE and GMAT and have "enough" time, you can try both. I use myself as an example, the highest score I got in the GMAT mock test is 730 with 50 Q. However, I only got 650 in the real test due to low verbal score (I don't remember but it's very low). Of course, I will not pass the first cut in almost every Ph.D. finance programs with 650 GMAT. I changed to GRE and got 56th percentile Verbal and 92nd percentile Quant, which is much better than my GMAT score. The result was I got rejected by only T30 schools. The fact is more people take GMAT than GRE to apply for a Ph.D. in business, thus you have to compete with applicants who have a very high GMAT score (I would say most of them get 700+). Secondly, universities are still not familiar with GRE so they will use percentile as the cut-off criteria. Some will use a convertible GMAT-GRE table from ETS as a cut-off tool, but not too many. As my previous Professor, who serves in the admission committee of the T20 finance program, says the usual rule is 95th percentile in Quant for T30 and 90th percentile for the rest. Verbal will have less weight as long as you pass 50th percentile. Last advice, apply widely, you never know who will give you an acceptance.
  5. pqhai
    I think you should improve at least two points in your application: 1. GMAT score: the total score looks pretty attractive but your quant score is well below the cut-off in Ph.D. finance program, which typically requires at least 90 percentile in quant. We usually forgive low score in verbal (> 50% will pass the cut-off), but definitely not for quant. 2. You love teaching, which is good. But what we look for is research passion and ability to do research (research experience, programming skills, etc). Hope it helps.
  6. pqhai
    Sorry, but Ph.D. in Finance programs do not look for skills you learn from the CFA program. It's a great program but does not add value to your Ph.D. application. It doesn't hurt if you mention in your resume, but do not expect that the adcom will give you more advantage in comparison with those who got a strong background in math, econ, and programming. Especially if you're interested in empirical finance, then programming skills (Python, R, Matlab) would be the edge. Furthermore, what you will study (and do research) at Ph.D. level is very different from what you learn in the CFA program.
  7. pqhai
    RA work experience not only demonstrates your ability to do academic research but also helps you get better recommendation letters. There are many people, who major in engineer and hardly do any research in finance, successfully got admission in very good Ph.D. finance programs. But the point is that they have good reasons explaining why they want to pursue a Ph.D. in finance instead of just research experience. If you can code in STATA, R, or Python, you have advantages. R and STATA are good for statistics and econometrics, but Python is very powerful if you want to do something regarding big data. If you're interested in doing empirical research in finance, then Python is a big plus. It also impresses the admission committee.
  8. pqhai
    If the researchers at your firm usually publish papers in academic journals, then your work is, of course, counted as research experience. But I'm just wondering why researchers at your firm usually publish papers in academic journals as that work requires a lot of time and effort. To me, it does not make sense doing so if one works in the industry. Just my personal opinion. However, if you list your RA experience in the resume or the statement of purpose, you better mention clearly what you contribute to their papers (or working papers). You will likely have this question in the interviews.
  9. pqhai
    Your GRE quant seems not enough for top Ph.D. finance programs. I would say you should try to get AT LEAST 50% in verbal (151) and 94% in quant (168) to get through the first cut in the top Ph.D. finance programs. Moreover, you don't have a grad study in finance, you seem to have disadvantages in the run. Can you get letters from active research finance professors? It will help a lot. As finance is one of the most competitive fields, especially in assets pricing, you will see you have to compete with a pool of high-quality profile applicants all around the world. My last advice is to apply broadly, top 10 in Finance is extremely competitive. But nothing is impossible, try your best. Good luck.
  10. pqhai
    Since your major is math, I assume your background is good enough for doing Ph.D. However, a Ph.D. in business is not all about the math. I only focus on your concerns: 1. Working at a hedge fund: please note that research at a hedge fund is very different from academic research. If your job doesn't relate to academic research, it won't add more advantages. 2. Research experience: a lot of people here on Urch will agree with me that recommendation letters and research[academic] experience are the most important. So try to grab some research experience with your Professors, show that you can handle large datasets. That said, you should learn some programming languages, R, STATA, Python, for example. 3. Letters: the world of business academia is small, if you can get letters from Finance professors, it would help a lot. If you can get letters from well-known research finance professors, it would be great. To be honest, letters from math Professors don't help too much in Finance. Hope it helps.
  11. pqhai
    I think you should find your research interest, says, finance or accounting, etc, by yourself. Your standardized tests and your undergrad are good. As my research interest is corporate finance with a concentration on corporate governance, when I see your RA experience, I assume you're interested in finance (or accounting). But I don't know. Moreover, you said you didn't take enough math courses, but we don't know what courses you took? Did you finish Cal I, II, III, probability and statistics, or any other proof-based math courses, says, real analysis? So you better take some more courses, talk to your professors, and see what makes you interested in doing original research.
  12. pqhai
    Thanks, hngu178! I always love reading negative side as it would help me make a decision with both eyes open. Please don't get me wrong that I mean your comment is negative. It helps me a lot instead. You seem to have a lot of experience with doing Ph.D. I prefer California and Texas because of family reason. I see that all universities always mention their advantages. They are b-school so, of course, they know how to sell themselves. We cannot have a full picture until we join the program. Moreover, as all of my offers are not from top universities, I don't expect too much from universities' reputation or the like. All I can do is work hard and hope for the best.
  13. pqhai
    I was in the same boat two years ago. I know my research interest is finance not economics. Currently I’m doing my MA econ in a pretty good program in the U.S. (rank 22) and I almost got a guarantee to get a slot at the PhD Econ program at my university with a great support from a senior faculty. But I was so lucky that my Prof, whom I’m doing RA for, told me over and over again that I should apply for PhD in Finance for the same reasons as hngu178 suggested. I decided to apply for PhD in finance at some lower rank universities than my current university as getting acceptance in a PhD in business is very competitive. I think it’s a good decision to me. Of course, our future depends on our real research interests and our efforts but a better job market factor should be considered seriously before we decide which program we want to pursue.
  14. pqhai
    Thank you so much, YaS and hngu178! I very much appreciate your suggestions. I checked on SSRN, sorted by descending oder and saw that several recent papers regarding corporate governance written by faculties at TAMU accounting department. That sounds like they have some overlap in this field. But it’s hard to tell about faculties until we join the program. Some days ago I chat with a Professor at TAMU, they will bring in one more faculty who does research in corporate culture and governance.
  15. pqhai
    Thanks, YaS! My finance Professors, who wrote me recommendation letters, also suggested TAMU or Iowa with an edge to TAMU as he said: "in recent years, TAMU seems to do pretty well". I know they lost some key people in the past but they're very active in bringing in new people in both corporate finance and asset pricing. For more detail about my research interest, I'm interested in corporate finance with a concentration on corporate governance. In fact, I worked as a finance manager for a corporation but my duties focused more on accounting side rather than pure finance. I think there is a convergence in accounting research topics and corporate governance in finance. That's why I will take a minor in accounting if I can.Can you please confirm my italic point?
  16. pqhai
    Hi. I think I'm done with my applying season. My short list includes three Ph.D. finance offers from Texas A&M, University of Iowa, and Georgia State University. I'm interested in doing empirical corporate finance. If anyone has experience with the three programs, especially in corporate finance, please share your opinion. Any advice would be appreciated. Thank you in advance.
  17. pqhai
    Hi Faj91. I will do my Ph.D. in finance this Fall. So I may have something that can help you in the applying process. - First, can you provide more detail about your math background? From my experience, the adcom will check what math courses you took carefully. Real analysis is recommended, Prob and stat (masters or Ph.D. level) is a very positive signal to the adcom that you will do good in the rigorous Ph.D. coursework. I was asked this question in the interviews. - Second, do you code? If you're interested in doing empirical research, programming is a must. - Third, you should improve your research experience. I see that you have not exposed to any academic research except your thesis. - Fourth, your reason to pursue a Ph.D. is not really strong. The adcom wants to see those who have a plan to do original research and stay in academia. - Fifth, who will write your letters? Are they active researchers in the finance field? - Last but not least, your GRE seems to pass the cut-off. But if you aim higher, says Top 20, top 10, you should get a higher quantitative score. My Prof, who used to work in the adcom, told me that for top 20 the cut-off quant is 95th percentile or above. Hope it helps.
  18. pqhai
    Thanks Xanthus and elsenot! For more update, I had some chats yesterday to those universities. I was open and the Profs also gave me their advice how to choose the school that fits me best. They said the same that unless I were too rude and declined the offers unpolitely, they would not remember me after one year. After some careful consideration, I declined some offers that I’m sure I won’t go and emailed to those Profs about my decision. The Profs emailed me back, said thanks and good luck to me. Now I feel a lot better.
  19. pqhai
    Thanks YaS! Your advice really helps as always. Back to my situation, I said they are my top choices in the interviews because at the time I did my interviews I didn’t have any offers in hands. I would never think I have more than two offers. But PhD Admissions are more random than I expected. As choosing a university to do my PhD is a big decision and there are many factors (research Profile of universities, Profs, stipend, location, etc) we need to consider, I wanted to have all possible options before making a final decision. But it seems not to be a good strategy in the long run. Yes, I think I should decline politely and quickly. It will help others in the waitlist. Any other thoughts are very welcome!
  20. pqhai
    Hi Urch fellows. This thread is old but I would like to bring it back. I think my applying season is almost done. I have some offers and would like to decline some this week. I really don't want to keep all offers until Apr 15. Some universities contacted me to get updates. I was straightforward about all my offers and said that I would decide quickly after I have all options. I feel not very good as in all the interviews I always mentioned that those universities are my top choices and Profs seemed to appreciate. (That's why they gave me offers!??). But now I will decline their offers. When I responded to universities to update my offers status, some Profs seem to appreciate (and congrats me) but some really don't. As the world of academia in the business field is pretty small, I was wondering whether there is an issue if I meet them again in a conference or on the job market later? I'm not sure if I overthink or not.
  21. pqhai
    Notification Type: Acceptance Institution Name: Texas A&M (Mays) Concentration: Finance Date of Notification: Mar 5 Type of Notification: Email Comments: 2 interviews last week.
  22. pqhai
    Hi Raja. I understand your feelings. First, age doesn’t matter (I’m 33 now). Your UG profile is impressive. Your scores seem to pass all the cut off but I don’t see your research experience and letters of recommendation. To be honest, all interviews and acceptances I got for now are due to the great letters. The adcoms told me that they know all my Professors, that’s why they trust the letters and interview me. The third and very important factor is Programming skill. Do you code? If not, you got a disadvantage in the run. I hope you will get good information by early next week. PS: I only know about PhD in Finance. My answer may not be correct for other fields, says Marketing, Accounting, ect. I got only 318 GRE (92% quant) and 104 Toefl, which are at the lower end of the cut off scores. But the adcom said to me that if you pass the cut off, nobody cares about test scores. I assume the cut off is 90 percentile in quantitative (GMAT/GRE) and 100 for Toefl.
  23. pqhai
    I elaborate finanzguy: U of Oregon sent out two Finance Ph.D. offers in the first week of Feb. Profs said the accepted students are likely to enroll.
  24. pqhai
    @ConfusedAsprant: I think there is not a perfect way to select a college. There are many factors and ranking is just one of them. I agree that the first criterium is the fit between you and the Profs as well as the university. The second factor I would consider is how active the Profs do research. You can see the research activities and outputs from the website. Last but NOT least is the placement record, which is very important. Almost all Ph.D. students want to find a job in academia. A good placement record raises a positive signal to our decision. However, our future depends on our effort, number and ranking are just for reference. No one can say which university is 100% fit to you. Let's write down all contributing factors and weight. If you really like one specific university, let trust your gut and try hard in the next five years. You'll be in good shape.
  25. pqhai
    I second ted23. I'm an old applicant with 10 years working experience as finance manager and a bachelor degree from outside the U.S. But I would say my practical experience doesn't count. My bachelor GPA if converted to U.S. scale would be a disadvantage to me. I understand my weaknesses and try to cover up by research experience and programming skills. I decided to prolong my second master in economics to 2 years instead of 1 year (I got my first finance master degree 6 years ago, so I don't think it counts too much). While doing my MA Econ, I've been working as an RA for a Professor, took 2 elective courses in finance. That helps me get three excellent letters. In addition, I learn several programming languages to do my RA job better. I would say research experience, programming skills, and letters are the most important in my application. It depends on person to person, if you know your weaknesses, you can improve by something else.
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