ted23
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Everything posted by ted23
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Can confirm this. I am finishing my first quarter as a 1st year PhD in Finance. I just finished my finals and grades are to be released next week. I doubt the faculty at my school has started reviewing applications.
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I'm just coming up to end of math camp and have to say that its been very stressful so far for all of us. I'm at a school with very strict comp requirements so I was wondering if the elder business PhDs here who had to take econ comps in the first year dealt with the stress of the 1st year.
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Having just started a T10 Finance program, I think your stats look competitive. Your GMAT score will clear the filtering hurdle at most T10-T25 schools so I would focus more on your letters of recommendation and your personal statement. Finance programs are more interested in students with a clear delineated research agenda that matches faculty interests. No matter how good you are if you are looking to do asset pricing at a school known for corporate finance, you won't make the cut regardless of your stats.
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I had 2 questions I wanted to ask current/former PhD students 1. What was Math Camp at your school like? What topics did you cover and how relevant did you find them in your coursework? 2. I also wanted to ask current and former PhD students how relevant PhD coursework grades are to your departments. Would faculty members decide to work against a student solely on the basis of bad grades even if they would be otherwise perfectly suited with working with that said student? I'm at a school with a reputation for a strict econ department which is known to be tough when it coming to grading so I am a bit worried how important PhD grades are for nurturing future faculty relationships. Also in your own experience how correlated are PhD grades and future research potential?
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Hi There, I am an incoming Finance PhD who has to take 1st year Econ PhD courses at my school (Northwestern). I've been revising some math to prepare myself for the 1st year courses which include: 1. Calculus and Multivariable Calculus (Calc I, II, III) 2. Linear Algebra 3. Real Analysis 4. Mathematical Statistics I already have exposure to graduate level micro and econometrics through a masters degree but is anything missing from the list of math topics I've listed above? I thought I'd post here instead of the Business forum because people here may have a better idea. Also if there is anyone who has gone through Northwestern Econ courses in the past, any comments on their level of difficulty? Thanks!
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on.a related note, what is the best preparation for PhD? taking a break or doing some intense preparation in the months leading up to a PhD? I'm one of many entering a PhD after finishing a rigorous masters this month, so a break might be good for me. On the other hand being prepared for the 1st year coursework also has merit. Just wondering on everyone's thoughts
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I'm an incoming Finance PhD student so I will be required to take the Micro, Macro and Econometrics sequence with the Econ PhD students. Can you elaborate on why you think Econ professors don't try to fail out students from other disciplines? Also any comments on your prelim exam experiences?
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As an incoming Phd student this fall I was wondering if any of the current PhD students on this forum could give an insight into what their 1st year was like, as well as any tips/advice based on your own experiences? I understand the first year is coursework heavy but is it wise to dip your toe in some research early on? How did you find prelims, etc.... Any feedback would be helpful
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You are right. I just received this email from tax support at NW: Considering you are non-resident of USA for tax purposes all your USA income will be subject to USA tax withholding, since Australia does not have treaty with USA for student income. The scholarship income is subject to 14% federal and 4.95% state taxes. The assistantship income depends on the US federal tax bracket for wages depending on your annual gross income it could be between 10%--20% and additional state tax of 4.95%. Best Regards,
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Wow, my information was to the contrary. That sucks being an Aussie myself. Sort of makes me reconsider my housing decisions...
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why is it so hard for australian/non us phds to work in usa schools?
ted23 replied to littlepink's topic in PhD in Business
I'm Australian and I'm heading to a T10 school for PhD in the US, so this is just not true. There is no bias based on geographical boundaries, its hard for anyone to get in because of the nature of the competition. Just work hard, try your best and hope for the best. -
Your letter writers MUST be from Finance. The admissions process is somewhat network based so if your professors are well-known to the admissions committee members than that will help your application no doubt. From what I understand letter writers from different disciplines (unless its in economics and the letter writer publishes in the big 3 finance journals) is frowned upon and raises further questions about why you want to do your PhD in Finance rather than those other disciplines. RA experience is again important but I would stress it must focus on empirical finance research. I'd also try to tailor any RA experience you get to the type of research you'd like to do. I received a lot of questions about why I did corporate finance stuff in my RA experience whereas what I wanted to do was Asset Pricing as an example. The rest of your profile seems competitive for top Finance PhD programs.
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To give a bit more context, my school (Northwestern) is in Evanston which is about 20 minutes away from Chicago. I have a choice of picking on-campus housing on Campus vs finding an apartment in Chicago. Is it worth paying more (approximately 40-45% of my stipend) for the on-campus accommodation? I can find cheaper apartments in Chicago but ideally I'd like to be closer to the campus. Is 40-45% of my stipend too much to dedicate on housing? All of this is ignoring taxation so it could be even higher.
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Thanks, this is very helpful. Also, as I understand it, the fellowship component of the stipend is not taxed, but work requirements via RA and TA experiences are. Is this correct?
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I understand the issue of housing is dependent on the cost of living, but in general does anyone have an idea what is the norm regarding how much of a stipend should be dedicated towards rent? Any current PhD student able to weigh in on this?
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Finance PhD admissions are very random having gone through this myself. There is no guarantee your odds will improve next year and from what I understand you cannot defer funding for the Simon offer for a year. So I would stick with Rochester, it is a good school in Finance and it controls the JFE, one of the top journals in Finance.
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I wouldn't worry about finance grad courses. In any PhD Finance program, second year coursework covers all the finance that you need. I think the more important thing is economics coursework and economic intuition that emanates from that. Finance is an applied field that uses tools from economics and statistics to conduct empirical research in finance, so knowing the economic tools up to the Econ graduate level is important. So if you can take more grad courses (particularly micro and macro) that can only be to your advantage. As for specific masters programs, the best ones I would look at are LSE's MSc Finance and Economics Program, Cambridge's MPhil in Finance Program or Oxford's Msc in Financial Economics program. Those programs are marketed as masters preparation for PhD inclined students. Also Duke's MA Econ program is also highly regarded. I am starting my Finance PhD at a T10 school so hope all this helps.
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You should retake the GRE though I would not stress too much. In my experience, most Finance PhD programs have the same 85-90th percentile cut-off rule as Econ programs: so long as you are above it they don't care what your score was. Getting a 170 in Quant adds no utility above a 166 in this regard. I would aim to get your verbal to at least 85th percentile as well (160). By far the most important part of the application is your LORs and your personal essay. Make sure you make clear what your research interest is and how it relates to the school's expertise. I would even namedrop faculty you would be interested in working with. Asset Pricing is a very broad field, so it would be very good to narrow down your selection interest of school based on that. I would not recommend applying to all the schools in the top 10. Rather focus on the schools within that range that are strong in the area of asset pricing you are interested in.
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I'm from Australia originally and am starting a US PhD this fall. I can tell you that the way the Aussie job market is going it is very likely that many of the top Australian universities will no longer hire local graduates anymore. I can tell you in my field (Finance), many of the top schools have already moved that way.If I were you I'd pick the foreign option- HK or if you have the time to think about reapplying next year to US programs.
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2018 Business PhD Interview/Admission/Rejection Results
ted23 replied to tm_associate's topic in PhD in Business
I have just accepted this offer. Will be headed to Kellogg this fall. -
To add my own experience, I was on the waiting list for Northwestern (Finance) for a month. I received the offer yesterday. So waiting lists do lead to offers.
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2018 Business PhD Interview/Admission/Rejection Results
ted23 replied to tm_associate's topic in PhD in Business
Notification Type: Acceptance Institution Name: Northwestern (Kellogg) Concentration Applying to: Finance Date of Notification: 19/03/2018 Type of Notification: Email Note: got off the waitlist -
I considered as much. Also, what sort of questions do they ask at a campus interview? Are they any different to the skype interviews?
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For those who have done campus interviews, what is the implicit dress code?
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I also see you posted this on econjobmarket rumours. I'd take comments there with a grain of salt.