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Finance PhD Frequently Asked Questions

Q: How long does it take to complete the Finance PhD degree?
Typically four years consisting of about 2.5 years of course work, if entering with an MBA, and 3 years of course work if entering without an MBA and 1 to 1.5 years of full-time work on the dissertation. Some students take longer.

Q: Can I go part-time?
No. We expect our students to be on campus and working with the faculty on research and teaching.

Q: Do I need an MBA to enter the PhD program?
No. An MBA is desirable but not necessary. About half our PhD students have MBAs and half do not. Students without an MBA are required to take a graduate level course in accounting, marketing, and management.

Q: What salary can I expect with a Finance PhD?
Finance PhD salaries are among the highest for new PhDs. Starting salaries of our recent graduates have averaged approximately $100,000 for nine months with most also receiving guaranteed summer support.

Q: Can I get a job in the private sector with a Finance PhD?
The finance PhD is primarily an academic degree and our program is geared toward preparing students for academic careers. However, one of our recent graduates accepted an attractive Wall Street position.

Q: Will I have an office?
Yes, our PhD students are housed in the Center for Financial Studies. All have offices and computers. Most share an office with one other PhD student though a senior student may have a private office.

Q: What databases do you have for PhD student use?
We have  the major databases and several more specialized ones. CRSP, Compustat, and other major databases are accessed through the WRDS (Wharton Research Data Services) system. This system saves researchers considerable data management time freeing more time for research. Information on WRDS is at http://wrds.wharton.upenn.edu .

Q: Which undergraduate majors provide the best preparation for a Finance PhD program?
Math, economics, accounting, or finance.

Q: How much math do I need to enter your program.
Finance is a mathematics intensive discipline. We prefer for our entering students to have had calculus (both differential and integral), matrix algebra, and mathematical statistics. However we do accept mathematically capable students who do not have these background courses - in which case the math courses are taken early in the PhD program.

Q: Do you have a minimum GMAT or undergraduate GPA?
The Price College normally requires a GMAT of at least 650 and a GPA of at least 3.50. The Finance Division not have set minimums but most of our successful applicants are considerably above these minimums. The average GMAT of our current students is 690 and the average GPA is 3.83. Also important are one's aptitude for and interest in Finance PhD study.

Q: Will you accept GRE scores in lieu of the GMAT?
Yes