Advice/Input needed on Finance PhD Applications

[kicpatl17]

Hi guys,

 

I am a non US-citizen interested in applying for Finance PhD programs in the US and need some advice, I’ll try to make this no longer than needed.

 

I have a B.S. Electrical Engineering with a Minor in Economics from a top 10 Engineering School in the US. Currently I am midway (nearing the end of the first year) of a two year Masters in Finance program in a European University. The specific program is relatively highly ranked (top 25 Master of Finance FT rankings) but the university itself is not as well known.

 

My undergraduate GPA is very low (slightly above 2.5) for a variety of reasons including being in the wrong major and not switching (I won’t get into why for the time being). Specifically on my math and statistics classes however, my grades are A’s in 4/6 such classes (including a grad level mathematical statistics class, and a game theory class). My econ class grades are mixed ranging from C’s to highest performance in class.

 

I currently have an honors level GPA in my Masters Program and a tuition waiver scholarship, which I expect to maintain. I am also a research assistant with one of the professors. The program has a thesis requirement which I will be writing in the final semester (Spring 2017), and also allows the option to study abroad for the last semester.

 

My GMAT score is 730 and my GRE is 165M/153V (taken a year ago with very little preparation, confident I can improve if needed).

 

I’d like some input on the following:

- Do I stand any chance if I apply this fall (to start Fall 2017) or should I wait one more year in order to have a more extensive record of high performance (GPA-wise) to counterbalance my poor undergrad GPA, plus a thesis paper under my belt? (will this improve my chances of being accepted or am I misjudging?).

- If I apply this year and get rejected, does reapplying at the same places I got rejected, the following year affect positively/negatively my then chances?

- Do these programs have a preference over GRE vs GMAT and should I retake the respective one?

- What’s the relative importance of Test Scores vs Undergrad GPA vs Masters GPA vs Recommendation letters vs Research Experience?

- Would doing the study abroad option my program offers (at a US university), affect positively my chances?

- In case you think I have a decent chance (either for applying this year or the next) what caliber schools would you be talking about?

And finally

- Since I am specifically interested in Financial Economics, do my chances (given my background) of getting accepted in a Finance PhD program differ significantly from my chances of getting accepted in an Economics PhD program?

 

Thank you for your time reading, I would greatly appreciate input from anyone in a position to give an opinion on any of the above

 

-C