Hello there:

Anybody doing MBA or PHD in FINANCE in any university in USA?

Just looking for somebody who is already in the program to get informations....

any help is highly appreciated.

liljohny

I am also interested in doing PHD in business subject but then could anyone suggest which are are the good subjects to do PHD programs and some of the good schools. Not the great schools as i am not sure to get admission, but something that is credible and who gives admission ?

Is doing PHD in strategy or business development good option ?

thanks all

A PhD is required if you have any hopes of teaching at the college level or academia in general. Lots of people sacrifice money for fame and their contribution to society. The lucky few who become Harvard professors or such do become wealthy by most people's standards; or at least they live very comfortably. Believe it or not, but no, it's not that rare a thing to want to get a PhD because you love teaching. From all of my experiences with various graduate programs in various schools, many people do start their PhDs because they want to share what they've learned with other interested students. For the longest time, I was the same way too. And teaching the few undergrad courses that I did only made me want to teach more, as there is just something genuinely.. good..for lack of a better descriptive term, about being able to impart what you've spent so much time and energy on to others, and to see in their eyes a similar passion or interest as your own.

The problem that I've found from spending so much time at major research universities with this, is that many of these same people, once they actually do become professors, discover just how much of their job is teaching-oriented and how much is ´scholarship-oriented. At the larger institutions where research is emphasized, chances are the faculty there will likewise be more concerned with their own research then they will with teaching their daily courses. The reason for this is, I think in part, at least, that old-school "publish or perish" mentality, whereby you are measured not by your teaching prowess, but by your scholarship. Plus, scholarship is still the primary criteria by which faculty are evaluated for possible promotion to tenured positions.

And....No, a PhD is no guarantee of anything other than that the person was able to survive the PhD program.

My advice? Run. Run while you still can. Run as fast and as far away as your legs will take you. Having a PhD doesn't mean they are automatically geniuses. However, it probably means they have quite a bit of knowledge in THEIR field. You all disparge these people because they don't know EVERYTHING in EVERY field. :)

ladyinred seems to be in the know. there is certainly a misalignment of incentives. you are evaluated almost entirely on your research. did you get the 8# hits in a top tier journal in the 6-10 yrs of your tenure clock? if so, congrats, professor xyz. if not, goodbye. even if you are a stellar teacher, it's really the research that counts at top institutions. there is absolutely no doubt about that. the other thing is that there is tremendous intertia at schools. the old farts who have been around tend to have their way a lot, and they have so much authority and are usually averse to changing their beliefs that things will take a really long time to change.

liljohnny, seems like you need to do more research before deciding. the mba and phd tracks are completely different. an mba leads to a job in industry. a phd leads to a job in academia if you go to a top tier school if you want. if you don't you can always go to industry. having a phd (compared to an mba) is not valued that much in industyr, unless you go to firms that have a history of hiring phds for either their percieved ability, or the research-specific nature of the job.

btw, i am absolutely in awe of steven levitt, the co-author of freakonomics. the dude got teunured at uchicago in like 2 yrs, and became full prof in 2 yrs. the book also rocks, btw if you have not read it. he's on the speaking circuit rite now, and i heard him talk. he's only OK as a speaker tho.

Gosh:
Can you guys be little encouraging here. I almost freaked out with what i read. I think like you said, i love teaching and i think i really want to be a professor in my life but then at the same time, i would like to have some experience in business as well.

However, how easy it is to get admission in say University of Chicago for your PHD if you have masters from not so great institution in US, is it still possible.

COuld you suggest other similar universities ?

Will be grateful if you could,

getting into a finance phd at uchicago is very hard. ditto for comparable instituions. i dont know about uchicago much, but the admission rate is probably 1-2% or somethign on that range. also keep in mind that people who apply usually think they have a decent shot, so it's usually good applicants. i would say you need to have a stron quant background, with a major in mathematical economics/math/applied math/engineering with a lot of math. a solid gpa (3.9 and above). the gre's don't matter much, because everyone has a 800M/6A. you can apply to lower tier schools like ohio's fisher school.. i'm sure its damn competitive in finance there too, cos ppl who dont get into uchicao, mit, columbia, wharton, stanford will apply there too. i guess other second tier ones are ucla, duke, usc, michican, unc, etc. don't know about htese much, you'll need to look at their websites and faq sections. the other business disciplines, like marketing, accounting, management might be alittle easier.

Graduate degrees come in several different flavors. A Masters Degree can be a 2 or 4 year course, depending on the program it is in. Many Masters Degrees are folded into a Phd, where the first 2 years of the program would earn you a Masters degree and the second 2 (or 4) years would earn your Phd. Many Phd programs are 6 years in length (especially in the sciences). Some Masters programs require a thesis or dissertation, along with oral boards (interview-style question session with faculty comprising your review board). Most Phd programs require a dissertation and/or Oral Boards. Generally, if one started a Phd after completing their Bachelors degree, they would be between 26 and 28 when they completed their program. Often in getting a PhD, the particular professor you choose as your advisor carries just as much weight for many people as the university that you attend. It does so happen that many of the excellent professors teach at top rated universities, but there are still plenty of excellent advisors not located at the "top 20" schools.

By the way dont worry you having masters from not so known unviversity. Have confidence and apply. If you get great if not try again... :)

Good Luck.......

also, go to the businessweek.com forum on business schools. you'll find useful information there. good luck.

Dear LilJohnny and Sheetalb,
First off, accept my congratulations for having made the decision of doing a Phd. I am sure your decision is an outcome of a thorough understanding of the journey you are about to pursue by getting the degree of apex of the educational pyramid.

When I think of a Phd, I think of a passion- a passion to resist, a passion to perspire, a passion to persist and a passion to conquer. I have always believed that getting a Phd is all about realizing and practicing the characters of passion in you. Needless to say, one needs a talent and an in-depth understanding of the area for success.

If you want a Phd, don't think of anything else. Don't let the thinking come to your mind that perhaps I could have been better off financially if I had gone for jobs, life could have been more easier, less challenging etc. The thing is, if you are passionate about Phd, those distractions will never take over you. Also don't think about the possibilitiies that you may end up struggling for a good reaearch career in industries and/or fighting for a tenure track position in the university you are going to attend for teaching and research in the future.

When you are going to pursue a challenging life, you have got to be positive so think of the positives. You will get to lead the research direction of an industry after a Phd. You can make a genuine contribution to the educational sector of Nepal. You will get a sure stamp licence to unfold the mysteries of your area of interest by researching in the top-notch industries around the world. Moreover, Phd is not a destination, think about it as a journey.You tend to think less about the outcome in a journey, you just enjoy its moments.

Enough of blabberings, let's come to your major query. Not being a management student myself, I have little idea about good schools and good research areas in it. However, I will suggest you to go through the latest US news bulletin for the top graduate school in management. Then go through their websites to find out the professors who are doing active research in your area of interest. Contact those proffessors and try to see if there is a good match between you, your interest, proffessor and his ongoing research. If yes, go ahead and apply. As a matter of fact, the proffessor himself will encourage you to apply if there is a match. Remember, while getting into a top notch university is important, equally or even more important thing is to find out the suitable advisor for you. So I think contacting the professors is the best bet for getting into the Phd program.

HTH.

All the best.

Hunk in Grave:

I think my state will be like your name after i actually start Phd program. I mean it is a long process and getting application itself seem very dreadful.

after zalim posted, i went online to see some of the top universities and their students and after reading their bios and profiles, i felt like Phd for me seem just a never possible dream with my present qualification and also my knowledge on the subject. What are those people made up of, i do not understand at all.

Well, my interest of Phd is kind of cross between sociology and business strategy that impacts it and hopefully i will find a good enough university to do it. But i have time i think.

My question to those who did maters in one uni and Phd in another, did you guys took a break in between to work for a year under OPT, before doing your Phd or did it straigt away and could you also share the application process a little bit and help me. I have almost a year left of my Masters and i am in a dilema whether to work first or do my Phd straight away.

Really appreciated your comments and hope that you will give more valuable suggestions.

thanks

For me if i am supposed to do Phd ..i will work for a whilel after finishing masters...by the time you will have enough experience and after doing Phd it will boost..I don't know Phd in management..so far knowing some of my friends diong Phd straight from masters or bachelors..i have seen them going for postdoctorate...which includes research only..
I think without any experience and doing straight Phd ..it is some kind of hard to find job because it is higher level of education..I am not saying it is bad...but if one wants to do Phd just go ahead.....one needs to have patience.... you guys can do it.....

Sheetalb,
my advice is not to underestimate yourself. It is not important which unknown university you went to but rather what YOU DID in that unknown university and how well you present it to the admission committee.

...Hunk_in_grave, I admire your passion for Ph.D's but not everyone has that passion and the trend of thoughts and the same zeal...at least not me...not yet. In my case, the stipend offered for the Ph.D was higher than the salary I was offered in a job, and hence, my incentive to shoot some rounds in the dark, unexplored territory! How I awfully regret sometimes. As the saying goes "careful what you wish for. It might just come true " :)

Apply to University of Memphis if you want to get into for this Fall (2006). It is not that fancy school though. As other top universities are very competitive, UMemphis can be a good option to earn your PhD, guys.

hey lady in red, i liked your responses, being far younger than yourself (don't wanna make u feel old, sorry), id like some advice. would it be a good idea to get a bachelors in mathematical finance or get a finance degree only? Since both derivatives modelling and simple analysts jobs spend aimilar hours with derivatives professionals making far more money, which would be the best way to go? I'm after money right now because my family needs it, but latyer on id like to teach because it is my passion as well.
- i'm assuming you have business background.
nice thread though, keep it up fellers.

Sheetalb,
I am sorry if my reply offended you but believe me I was not trying to intimidate or discourage you. If you feel like going for a Phd, just go for it. That's what I was trying to convey.

Coming to your question about taking a break after MS before going for a Phd straightaway, I would encourage you to do so. Go for a job and get some practical experience of the coroporate world and then come back to school for a Phd. It is always good to have a practical hands on experience of your field before starting a serious research. Having said that I would like to mention two things. Firstly, there is no point going for not so good jobs defering your Phd. Secondly, there is a high possibility that once you are into corporate world and getting paid handsomely, you tend to enjoy the luxuries you may get and not come back for Phd at all. It happens to most of the people especially when their conviction towards Phd is not so strong. So just be aware of that. In my case, I had to go through a semester break before the start of my Phd in a different university, hence I did work for a company for 6 months during my OPT. Fortunately/unfortunately, it did not change my mind of coming back to school. My two years of work experience before MS is proving to be useful in my research though.

If you are seeking to pursue your Phd in a different university, let me tell you that the application process for Phd works almost the same way as that for MS. If you are doing a research in MS (thesis) and/or perhaps have published or planning to publish papers, that would be great. It always helps to get into top schools if you have journals or conference papers from your work in MS. One more thing I would encourage you to do is, make a short trip to the university and see the lab and reasearch work going on in there to get a feel of the department, the program and your professor. It gives an indication of your seriousness about the program to the professor and will always help in your advantage.

Good luck again!!

Oys,
Hehe. The passion thing is an idealistic scenario. I am always sort of zeal and have to recharge myself everytime. Research has taught me to cope up with failures in life better than to enjoy the miniscule success that I manage to get once in a while.

Hello there again:

I started the tread but dissappeared............. you all might be thinking that way. But not, of course not!

I was just going through all of the responses about the programs that i mentioned. Most of the people really did expressed their experience and feelings abt the phd or masters program.

Honestly, i am an undergrad student majoring in accounting and finance. But i found myself strong and interested in finance than accounting. so, i am planning to go for finance in master or phd (whater i can get into). i will be done with in 2 semesters (maybe less).

Reasons for PHD the first target: The first thing is--- as we know (most of us international students) we always have financial problem in paying tuition. Working 60hrs a week and going to school is not easy ( i have an experience of 3 yrs). so, if i get in phd program ( assuming that phd candidate will get the TA or GA or whatever funding) i can concentrate on studies and do good. secondly, once i (anybody) get admitted for phd there wont be anything (status, visas , financial situations) worry abt but studies. however, masters will be my other option (again the same assumption of GA or TA ). third option will be apply for H1 ( which i am not really interested in ). the place where i work (been working for more than 3 yrs) will help me on getting H1 visa.

Besides, i don't have the best GPA in the world. ( if i make 4.0 every remaining semesters the overall will be about 3.40). i used be A1 student back home but we enjoyed first semester pretty good which is the main cause of my wonderful GPA. but right now i am on track, i always regret my early days in USA. anyway, past is past and we can't recover and present is the most important time. so, i am working hard these days. JUST MY FEELINGS & EXPERIENCE guys.

i am preparing for GMAT. (please suggest me for preparation of GMAT)

so, i am really looking for some suggestions from those people who are doing masters or phd in any university. or anybody who can recommand me a decent university where i don't have to pay for my further studies.

informations will always be appreciated.

johny

TimeT...since when do people have that luxery? :) Mathematical finance will definitely earn you more money and a better respect. But in order to achieve the degree you got to concentrate more of your attention in study. If you pursue pure finance now, you might afford some more time for work from the beginning and help your parents right away. So its up to you to decide the priority. Noone knows your needs better than yourself. But if practicality permits, go for mathematical finance. Its a better degree between the two. Initial hardhip will reward you better, not sooner but definitely later. Its really upto you to decide what you really want. Explore and do what you enjoy the most. I dont know about others but I took 2 years to figure out what I really wanted to do. Phewww first i wanted to go for Hotel Managaemnt, the way I am ofcourse I tried for few months and figured out its not my thing, then wanted to be a dentist, tried for few months, then again realised not my thing, then tried informatics again realised I am not a type of person who can sit for 8 to 12 hrs on the same place and work. Good thing education is free here hehe. Anyways, even though all were bitching me for wasting my time, I didnt care and went exploring more, till I found what I really wanted and do the best. Money was never my first option but something I could even work for free... :) Basically, you need to balance out the effect the degree will have on your career few years from now, versus what you can do with your time otherwise.

Good Luck.....

Please ignore the typos... :)

Thanks goes to ladyinred & Hunk in Grave and all others:

Thanks for the encouraging words that motivates me more for the phd program. I always wanted to do phd and i will do it (sooner or later). Thats why i started looking for the universities right away. But i made up the mind for a particular university. As i mentioned in earlier, i am looking somewhere i can get TA or some grant to pursue further. I am not too much worried about the luxuary life right now. I am just worried about my further studies... (like where should i go? should i go for masters or phd? ). I was always a hard worker. I know i can do it given the chances.

Now the concentration in finance. ladyinred you seem to be more clued-up about the concentrations in finance degree, can you please write more about mathematical finance and some others? what is the difference? the universities that offer those courses? i am just doing undergrad in finance and accounting so, i am not well-informed about the finance concentrations in depth...... will you please drop more paragraphs abt it? i hope i am not asking too much.

hunk in grave can you write about this matter in depth?

how abt the GMAT guys? how tough it is? how to prepare for it?

thanks once again.