phd2017

I wouldn’t worry too much about it unless you are shooting for only going to a top 10 program or something. If you have an accounting bachelors from a decent place, a MAcc AND a CPA, you can most certainly get in somewhere respectable if you ace the GMAT. Just apply broadly across the ranks.

I would explain and include in your personal statement the reasons why you dropped out of your previous program. Its still going to be a problem but if you have a strong enough profile hopefully a couple of admissions committee would overlook it. I would make sure to apply broadly across the rankings and not take for granted lower ranked programs that may admit you. You can do quite well with a PhD in finance even from a lower ranked program.

If you already have a Master’s in Finance, what Master’s degree would you be pursuing next? Another...Master’s in Finance? I don’t think another Master’s would make any sense unless you’re applying to some other PhD discipline. You have the sufficient educational background PLUS work experience to get into Finance PhD programs as-is, assuming your GMAT is good enough. I would just apply to PhD programs this cycle.

As you are probably well aware, Business PhD admissions are tremendously competitive, and especially so for Finance PhD (even lower ranked programs with 5% or lower admission rates). They are going to be even more so now with the current situation. I think your biggest hurdle is going to be just answering for why you dropped out of a Finance PhD program after 1 semester. That would be a big red flag for an admissions committee. Especially reading between the lines which seems to indicate you did the Master’s because you likely felt the LRM PhD wasn’t “good enough” and you wanted to trade up to a better PhD program in the future. Which is fine but will likely eliminate a lot of lower ranked programs from consideration, and the higher in rank you go the harder its going to be to get an admit. I am not sure why you would now want to pursue an additional Master’s, unless you dropped out from your previous master’s program? I am in my early 30s as well, starting a PhD in the fall, and we aren’t getting any younger. I would honestly just apply for PhD and not waste money on another 1-2 years pursuing a master’s. I would be prepared for lots of questions from anyone that would want to interview you as to why you dropped out of your PhD program. Pretty big hurdle IMO.

Consensus from other forums I’ve read seems to be less funding available due to declining university revenues=potentially fewer spots for PhD student cohorts at some schools for the next few years. Combine this with a job market with high unemployment and there will probably be more PhD applicants the next few years. Which will likely lead to lower admission rates.

Depending on the programs you are targeting and GMAT score, I would just apply to PhD programs the same cycle as applying to Master’s and if you get in to PhD, go. If you’ve been working 18 years already you’re probably at or past 40 so I don’t see why you wouldn’t just apply to PhD programs right away. That is coming from an almost 32 year old with 10 years of business experience starting a program this fall. If you crack a 700+ GMAT just apply to PhD programs across a broad spectrum and see if you get some bites. If you don’t get into a good enough program or no programs, then consider the Master’s. But I don’t think its necessary or that an online Master’s will be that beneficial to your application unless you get to do some research or something. It definitely won’t help job prospects post-PhD IMO.

Considering the last recession the market crash happened in late 2008, hiring in the private sector at least didn’t truly pick up until 2012, maybe more like 2013. I am thinking that 2020 is looking to be another 2008 and that by the time 2024-2025 rolls around and we are on the market university budgets will be in better shape than they will be over the next few years, and that there will hopefully be some pent up demand considering a few years of belt tightening of TT hiring. I think it will be a brutal job market over the next few years though.

Anyone have any idea if/how this thing is going to effect entering 1st year PhD’s? Should I be prepared for an email revoking or reducing my stipend? Or even expecting postponement of the program?

You’ll definitely get in somewhere for either Marketing or Strategy if you apply broadly enough. Your GPAs are fine and GRE scores are right around the median for the schools you listed. The work experience and RA experience were helpful for my profile and will be for yours. So it just mostly will come down to a numbers game at that point and “fit”. I was admitted to a lower tier R1 in Strategy with full funding with a worse profile. I would suggest contacting the PhD coordinator for the programs you are interested in applying if possible to try and get on their radar, especially if it is a smaller program. It went a long way in establishing rapport with the program I was accepted to and signals your interest early on if you can convey that to a decision maker.

From what I understand its to get a better university on your CV to place better for the following year’s market instead of having to take a TT position at a lower ranked university or at no university at all if you had previously failed the market.

I would check out some of the profiles from current PhD students in the programs you are interested in attending to see what kind of degrees they have and where they got them from. Overall though I think its a mix of both. A strong masters GPA may help make up for a weak bachelor’s GPA, as it did in my case. Also I was able to teach and was a research assistant during my masters which I think was effective in signaling my interest in doing a PhD. It also allowed me to get some strong recommendation letters from academics that I would otherwise not have had.

You say that their school is #1 in your heart and mind and that you would immediately accept their offer if given one.

Thanks! When they sent the offer letter for acceptance/stipend they said I was being considered for the University wide fellowships that are available. Not sure if that is something that they submit for only 1 applicant or they do that for everyone.

I have been recently accepted into my target program, but my stipend is much lower than yours, in the low 20s. I am being considered for some University fellowships I won’t know about for a couple more months, but I am also looking at external funding to make the transition easier financially. Luckily my wife has a good job and I have savings from working in industry for awhile, but would rather not dig into that if I don’t have to.

I've started to do some research looking at faculty background at non-research schools and it seems to me like it can be all over the board. I see full time faculty with maybe an MBA and a PhD in a non-business related field like psychology, or MBA/CPAs. And you'll see some DBAs. What I've realized is because there are not that many business PhD's from AACSB institutions coming out every year, there is a big gap between the qualifications of faculty at the big AACSB research schools and smaller teaching schools that may not be accredited or just have regional accreditation. And among the teaching schools the qualifications for faculty can vary widely.

Thanks, sounds like a DBA may not be that bad of a way for me to go then, and may be a better fit than if I had done a full time PhD. One of my biggest concerns about the full time PhD programs I applied to this cycle was the fact that I would have significantly less income coming in for 5-6 years which was a bit daunting at this point in my life. And as much as I like the business research I am conducting in my current MBA program, the amount you guys do in full time business PhD programs seems a bit overwhelming to even think about. As far as DBA costs, I would limit my choices to those programs that would cost no more than 50-60k total in tuition, which limits my options significantly. One of the programs in that price range is about a 2 hour drive one way but is in the evenings on weekdays which may make it hard with work even with my very flexible schedule. This would probably be my best option though because the program could be completed over a longer 5-6 year time frame so program costs would be spread out so that I would only be paying around 10-12k per year for the program, while I continue to work and bring in a good income. The others would require flying and lodging costs which would probably run around 15-20k on top of tuition. Yeah I'll definitely give an update if I decide to pursue it. I can't seem to find anywhere else where DBA programs are discussed so may as well start it up here.

Thanks for the input. Yeah I am talking DBAs at lower ranked schools like Kennesaw State, Southern Alabama, Cleveland State, Louisiana Tech, Creighton. These programs are all AACSB accredited whereas I see a lot of unaccredited DBA's being offered by University of Phoenix type places, which I would not consider. From looking around at faculty online, it seems like the general minimum requirement to be an assistant non-TT professor on up at a lower ranked teaching school is "MBA+terminal degree in any somewhat related concentration". More than likely its MBA+EdD. I don't think I would do an EdD, and I have doubts that my MBA alone would get me into an assistant professor or better role at any point in the near future. I don't think I'll be able to give up my day job anytime soon now so this is why the DBA seems like it would make sense to me since it would qualify me to work at a teaching school without having to give up my day job like a PhD would require.

Its only been a few weeks since I submitted my applications for a few local Management PhD programs, and I've heard crickets so far. Which isn't surprising considering my GMAT and undergrad GPA weren't the best. Anyway, presuming I am all but dinged, I have given some thought to pursuing a DBA instead, which there are a couple of these programs somewhat nearby me (I am staying "local" which is why the PhD programs I applied to were limited as well) that seem like they may place ok at non-research oriented AACSB business schools. What is the reputation of AACSB accredited DBA programs? I imagine they are viewed as inferior to business PhD's in academia at research universities. But if the goal would be to go work at a teaching school at some point down the line, would a DBA make you a competitive applicant? One thing that I do like about the DBA from what I have read is that they are more geared toward working professionals so that they can be pursued while holding down a full time job. Which my current career is very flexible and pays well, so it may be doable. Thanks for your input.

"Immediately out of high school I enrolled into a local 4 year school at the persuasion of my parents, rarely showed up for class and was academically suspended after 4 semesters." "2.8 UGPA" Those would be the two things that would stick out to me, particularly the academic suspension which I'm guessing came along with a bad GPA. You would think that most schools would overlook the bad GPA, or the academic suspension at a young age. But much like any other competitive program, they are just looking for reasons to disqualify you so the combo of those two may give you issues. Most of the programs you listed are pretty competitive; I would just make sure to apply to some "safety schools" that are ranked in the lower tier as well. With a 730 GMAT and an MBA from a top 50 you should be competitive for most of those programs, but I would guess it would be hit or miss getting into some them based on if they are willing to look past some of the blemishes on your resume.

This particular side job would undoubtedly make up for any lost income if I had to stay an extra year, which is why I would be tempted to do it. Thanks for your input.

Hi all, I just finished my apps and was wondering if it is possible to keep a side job while in a business PhD program. First, do any programs officially allow their students to work outside their GA duties? Second, even if you were allowed to work a second job, would there be any time for it? Say if it was a position that could be worked in the evenings around 15-20 hours a week and was very flexible, could work any time, etc. Thank you for your input!

Accgirl, Honestly a big problem for me is trying to pick a concentration. Needless to say, I need to do my research. I was a finance major in UG, only had one Marketing course and a couple courses in Operations so its hard for me to even know what I'd be getting into with either of those concentrations. But I will have the opportunity to specialize during my MBA so maybe the choice will become more clear once I take some more classes in those topics. Yeah the GMAT score is worrisome but I think I could've done better with the Quant section. A lot of those problems I just didn't fully grasp the mathematics behind them so it made it a struggle to get problems done quickly. Stats questions were probably the most challenging. I'm taking a Stats class right now so maybe I could retake the GMAT after this semester or next. I'm limited geographically because I have a house here and my gf has a good job here. Thanks again for the advice!

Hi all, I'm new to this forum, I'd very appreciate if you give me some evaluation and feedback. I have a bachelor's in Business Finance from a Big Ten school, and just very recently started an MBA program at a sub-100 ranked MBA program. I chose that program basically because I was offered a graduate assistantship that pays 100% of my tuition, and because I was told that I'd be doing research for a professor as part of the assistantship. So far, the "research" has been just doing menial administrative tasks, but the professor I'd be working for has been on vacation so that may change soon. The only schools I will be applying to are local to my area, namely Pitt (which I have serious doubts I could get into) and WVU (which seems more in line with my profile stats). Interested in Management or Marketing concentration. Test Scores (GMAT/GRE): 640 GMAT, 55th percentile quant, 76th verbal. Undergrad GPA: Major: 3.0 from UG business school ranked about 50. Research Experience: None to date but should be doing research for a Marketing professor during my MBA program. Teaching Experience: None, but told I may get the opportunity to teach some intro level undergrad business classes where I'm doing my MBA Work Experience: 5 years of working in the oil and gas industry negotiating contracts for oil and gas drilling operations. Concentration Applying to: Management or Marketing. I'd prefer Management but still considering Marketing if my profile would be stronger for admission considering I'll be doing research for a Marketing Professor. Honestly could see myself enjoying either specialization. Number of programs planned to apply to: 2 (limited to the greater Pittsburgh area) Dream Schools: WVU or Pitt What made you want to pursue a PhD: I've worked in industry for 5 years and would rather do something more academic for a living. I know the workload would suck, but the workload sucks in the business world too, and I'd rather be doing something enjoyable during the workday instead of the same pointless mundane tasks that have been my experience with the day-to-day of working a corporate job. Concerns you have about your profile: Low GMAT score. Will probably take that again to try to bump it to a target of 680+, though I think I may have trouble moving the quant score any higher than it already is. I think most lower rank programs including WVU want to see a 650, so I guess getting it above that would be the main goal. Also, low GPA. Hopefully I can mask the low UG GPA with a 3.5+ in my MBA program. If I can't break a 3.5 in the MBA then I probably wouldn't bother applying to PhD programs. Also concerned about the fact that I'm geographically limited and putting my eggs in basically one basket/program. Any additional specific questions you may have: Anyone ever apply to WVU's PhD program? Any tips on getting in? How competitive are admissions there? Thanks!