phd in finance faq

This FAQ page complements the Bauer College Application FAQ page.

How many applications do you receive?
Usually, the Department of Finance receives over 50 applications for 3-5 slots. On average, we make 6.5 offers per year. Around 70% of the offers are accepted.

Do you have a minimum GMAT/GRE score?
While there are not fixed thresholds, if your GMAT/GRE score is under 640 (GRE score = [Quant+Verb]/2), and/or you are under the 85% in the quantitative GMAT/GRE part, your chances of admission are low. Admission decisions, however, are not based solely on your GMAT/GRE scores. We look at all parts of your application very carefully.

Do I need to take the TOEFL if I am studying in the U.S.?
If, by the time you enroll in our program, you have a degree from an English speaking country (U.S.A., Australia, Belize, Canada, Jamaica, U.K., etc.), you do not need to submit a TOEFL score.

Do you have a minimum TOEFL score?
Yes, the Bauer College of Business requires a 105 minimum TOEFL score (internet-based test). Some students, however, decide to apply with a lower TOEFL score. These applications, unfortunately, have a low chance of admission. Students that come from a non-English speaking country but are educated in English may be exempted from the minimum TOEFL score rule.

What is the usual profile of an admitted Ph.D. applicant?
Ph.D. applicants are admitted on the basis of past academic performance. Applicants usually have demonstrated very good quantitative skills. During the past three years, the average admitted student to the Department of Finance at the Bauer College of Business had a GMAT score of 698 (lowest score 640, highest score 760), with a 3.74 GPA. The average admitted student had a quantitative GMAT/GRE score of 95% (lowest score 87%, highest score 99%). Also, the average admitted student had a graduate degree.

Do I need work experience to apply to the Ph.D. program in Finance?
The Department of Finance does not have any specific requirement about job experience. The most important qualifications are:

GMAT/GRE Scores
Past Academic Performance
Letters of Recommendation
Statement of Purpose.

When is the application deadline for the Department of Finance?
For Fall admission, the application deadline is February 1st. The Department of Finance, however, encourages early applications. Applicants should note that the Department of Finance will only consider complete applications. Therefore, all applicants should mail all the required materials to complete the application in time to reach the Department of Finance by February 1st.

Do you consider late applications?
The Department of Finance may evaluate applications as late as February 28th. You should check with the Finance Ph.D. Coordinator first if you are considering a late application. Chances are that the 3-5 available slots will be already filled.

Are applications to the doctoral program accepted for Spring semester?
No. The Department of Finance accepts applications only for Fall semesters.

I'm a Ph.D. student at UCLA. Can I transfer my exams and classes to your program?
We do not have a Ph.D. transfer policy at the University of Houston. Unfortunately, you will have to apply and take our comprehensive and qualifying exams like any other new Ph.D. student. Any Ph.D. student can petition to transfer up to four Ph.D. courses taken elsewhere.

Do you take part-time students?
No. The Ph.D. Program is designed for full-time students only.

Can you waive the application fees?
No. The Department of Finance cannot waive the application fees. These are set by the University of Houston Central Administration.

What is the ranking of the Finance Department?
In July 2003, the Department of Finance at Arizona State University ranked 375 university finance departments, from around the world, by the number of publications in the top four journals in finance. Our Department ranked in the top 50.

Do your Ph.D. student publish quality work?
Our Ph.D. graduates have published in the main finance journals: Financial Management, Journal of Finance, Journal of Finance and Quantitative Analysis (JFQA), Journal of Empirical Finance, Review of Financial Studies, among others.

When will I hear from the Department of Finance about the admission decision?
For the Department of Finance, the application deadline is February 1st. To give time for letters of recommendation and other supporting material to arrive to the Bauer College, the Ph.D. Committee will meet two weeks after the application deadline (around February 15th). It usually takes from 14 to 21 days to sort through the applications and make final admission decisions. In general, we will mail you our decision by March 15.

What is the GMAT/GRE/TOEFL code for the University of Houston?
The GRE/TOEFL code is 6870. (It is listed under University of Houston - University Park.) The GMAT for the Ph.D. in Finance is XT1-26-69 (It is listed under C.T. Bauer College of Business, Ph.D. Program).