PhD advice

[tushar jain]

Hi my profile is as below:
Undergrad:Mumbai University:Computer Engg GPA:3.9
Masters:University of SOuthern California,MS Mathematical Finance, GPA:3.85
CFA Level 1 cleared
GRE: 630(V) +800(Q)=1430

I want to apply for finance phds once i graduate from usc next may....my ideal would be NYU,Columbia,Cornell,Uni of Toronto,CMU
What are my realistic chances ...also is it easier to get into the Math Phd programs of any of these...obv I want to pursue math finance either ways....
What can be my safety schools...I want to be on the east coast(NY)

Pls help me with any advice u can...thx

 

[IlyaKEightSix]

Odds are finance is easier both to get into, and to do.

 

[WilliamY]

I beg to differ with both charges. Finance is quantitative by definition* and the dissertation/research can be extremely mathematical. Contrary to your disparaging view, admissions to programs in social sciences and the arts are very competitive.

---------- Post added at 02:26 AM ---------- Previous post was at 12:55 AM ----------

Hi Tushar,

Traditionally, two items.

First, you should have solid recommendation letters. S-O-L-I-D. I hope you have forged great relationships with your mentors and professors.

Second, you better show a disposition to engage in research, whether with extensive projects, working papers, or experiences in corporate and government agencies.

The top doctoral programs in finance do not admit you simply because you have high GPAs. I assure you that most applicants will be and are perfectly qualified in that regard. GPA/CFA/GRE and any three letter word organizations are relevantly immaterial and should not even be part of your daily conversation. It only shows that you haven't done enough homework (or "soul searching") about this path.

My advice are applicable to doctoral programs in mathematics. Natural sciences, however, have a slightly higher intake than social sciences. I am sure you will find unorthodox and unconventional stories (Persi Diaconis) but I can't judge talent with your single post/message. If one of the two items above is weak, your application probably will be discarded immediately.

GPA/CFA/GRE will suffice for a less ambitious alternative to those top programs.

 

[GoIllini]

I beg to differ with both charges. Finance is quantitative by definition* and the dissertation/research can be extremely mathematical. Contrary to your view, admissions to programs in social sciences and the arts are very competitive.

+1

Simply by the numbers, there are much fewer spots for finance PhDs than math majors. The University of Wisconsin admits a number of Math PhDs every year and has 50,000 graduate and undergraduate students but has seven Finance PhDs TOTAL. I thought about going directly to a Finance PhD program, then gave up on the statistical impossibility of getting in anywhere without a lot more research and academic references.

Econ is also very difficult to get into, but the top five programs admit closer to 100 students in the aggregate rather than seven or eight. Most Econ PhDs- including a few quants I've talked to, however, will tell you not to do it unless you want to go into academia. It's not worth six years of your life unless you're absolutely sure you want to spend the rest of your life doing research.