| ADMISSION Q: How many applications do you typically receive in a given year and how many people do you admit? - We receive between 35 and 70 applications per year. On average we make offers to five students and three accept.
Q: May I submit GRE scores rather than GMAT scores? - No. We do not accept GRE scores.
Q: When should I apply? - You should apply by December and have all your information to the Graduate College by January 15th for admission to the program for the following Summer/Fall.
Q: May I transfer in credits from a Master’s degree? - Up to 30 hours from a relevant Master’s degree may transfer into our Ph.D. program.
Q: May I apply to the program via a paper application? - No, all Ph.D. applications are now done online.
Q: How is my application evaluated? - Your application is considered by the Department of Finance Ph.D. committee. In addition to the general requirements of the Graduate College, the committee considers factors such as an applicant’s letters of recommendation, scores from the Graduate Management Admission Test (GMAT), and the applicant’s personal statement of career objectives. Based on the committee’s assessment of an application a recommendation is made to the Associate Dean (for Ph.D. programs) in the W. P. Carey School who in turn makes a recommendation to the Division of Graduate Studies. The Division of Graduate Studies then either admits or denies the application and notifies the applicant in writing.
Q: When can I expect to hear whether I’ve been admitted? - Admission decisions are generally made in March or early April. Applicants will receive written notification from the Division of Graduate Studies—application decisions may not be released by the Department of Finance via phone or e-mail.
Q: Can I start the program at times other than in the end of Summer? - No. Students are required to take FIN 700 prior to their first Fall semester in the Ph.D. program. FIN 700 is offered only once during the academic year (during the second summer session).
Q: Is a Master’s degree required for admission to the Ph.D. program? - A Master’s degree is not required, but students with relevant graduate degrees will be more competitive in the application process.
Q: What sort of previous course work would make me a more competitive applicant? - Graduate course work related to finance tends to make an applicant more competitive. Additionally, course work in calculus, probability, statistics, and linear algebra tends to make a candidate more competitive as well.
Q: What is the average GMAT of students who enroll in the Ph.D. program? - GMAT scores are only one aspect of an application. We consider the complete application and not just GMAT scores. Having said that, the average GMAT scores for students enrolling in the program in the recent past have ranged from 610 to 770 with an average (median) of 716 (730).
PROGRAM INFORMATION Q: What is FIN 700 and why do I take it in the summer prior to my first year in the program? - FIN 700 is an intensive 5-week summer session course to help prepare you for doing research. An overarching goal of our program is to get you involved in the research process as quickly as possible and taking FIN 700 puts you in a position to do so from the very beginning of the program. Because we believe that getting involved in the research process as early possible is critical to the development of our students, FIN 700 is a required course in our Ph.D. program.
Q: How many students are typically enrolled in the Ph.D. program? - Historically, our program has had thirteen students enrolled at any point in time. We expect our program to grow to sixteen students over the next few years, however.
Q: How long will it take me to complete the program? - Although every attempt is made to have a student graduate in four years, it has become increasingly common for students to take five years to complete the program.
Q: Where have recent graduates of the program placed? Q: How much teaching can I expect to do while in the Ph.D. program? - Teaching experience has become an increasing important component to competitiveness in the Ph.D. job market. Over the course of your enrollment in the Ph.D. program, you can expect to teach somewhere between three and five classes (typically different sections of a single class over time). Every attempt is made to defer teaching until the summer after the student’s third year in the program, but staffing requirements may lead to students teaching prior to that time.
INTERNATIONAL APPLICANTS Q: Do I need to submit TOEFEL and Test of Spoken English (TSE) scores? - International applicants whose native language is not English must submit scores from the TOEFL and the Test of Spoken English (TSE) exams. However, if students have completed a degree from a U.S. college or university, they are not required to submit TOEFL scores. Non-native English speaking students will have to take the TSE, however, as it is a requirement for teaching courses here at ASU.
Q: Are foreign applicants eligible for federal aid? - Not necessarily. Foreign applicants may not be eligible for federal aid depending on visa status.
OTHER Q: Who should I contact if I have any other questions? | 
