Profile Evaluation - PhD Stat/Econ Programs

[stat_applicant_2018]

Hello,

I am planning to apply to PhD programs in Economics and Statistics for admission in Fall 2018. I was hoping that I could get feedback on my applicant profile because I am having trouble determining how difficult it is to get into various PhD programs. I have been working for 3 years after college at a large financial institution so I would probably not go to a school that is not top-ranked given I have a lot of other opportunities I could pursue besides a PhD program. My research interests are to use novel statistical techniques to understand complex, interconnected financial markets.

 

Appreciate the help in advance!

 

Institution: Top 20 Private

Majors: Mathematical Economics, Statistics

Minor: Financial Modeling

GPA: Cumulative - 3.49.

Type of Student: Domestic Caucasian Male

GRE General Test:

Q: 167

V: 164

W: 5

GRE Math Subject Test: Took it, but results are unknown.

Research Experience:

Two summers of research experience with rising star applied mathematics professor. Developed an algorithm to predict election outcomes with very little data in the 1st summer and worked towards developing an algorithm that could create improvised music in real-time.

Earned a university-wide distinction in research for some work I did with another professor analyzing the market microstructure of the bond market of India.

Invited to a national conference for undergraduates to present a proposal on how to improve the American healthcare system.

Work Experience (after graduation):

Work at an top, well-known financial institution known for its analytical rigor in credit decisions. I use loan-level competing hazard survival models to predict credit risk and I have over 3 years of experience after undergrad. While my work experience is generally not very applicable to base research I would be doing in a PhD program, I have had extensive experience in developing frameworks to solve open-ended problems independently and in short timeframes, which I think is critical for doing research. Often these frameworks have to be implemented in code, so I have become a very competent programmer.

Courses (Chronologically):

Differential Equations - B-

Microeconomics I - A-

Multivariable Calculus - B

Microeconomics - B+

Introduction to Engineering Computation - B

Macroeconomics - C+

Probability and Statistics - B

Econometrics - B-

Money and Financial Markets - A-

Economic Modeling and Public Policy - A

Elements of Analysis - B+

Mathematical Economics - C+

International Development - B

Honors Linear Algebra - B

Statistical Computing and Graphics - A

Methods for Data Analysis - A-

Energy Economics - B

Intro to Regression and Statistical Computing - C+

Applied Time Series/Forecasting - A-

Quantitative Financial Analytics - A+

Business, Law, and Economics - A

Religion, Ethics, and Economics - A

Statistical Design in Practice - A+

Market Models - A+

Real Analysis (at another university) - A+

Letters of Recommendation:

Economics professor who is published in top professional journals and studied with Nobel Prize winners.

From the applied math professor I did research with two summers in a row.

From the Economics professor I did the market microstructure research with; currently working at a top NGO in Economics.

Other Notes:

Taught 3 different student-taught courses in economics

Wrote several popular press economics articles for campus publications

Passed the CFA Level I exam (Chartered Financial Analyst)

SAS Certified Base Programmer

Programs:

I only have a few right now, but I would appreciate the feedback.

University of Chicago (Economics and Statistics)

University of California - Berkeley (Statistics)

Duke University (Statistics)

Rice University (Economics and Statistics)

University of Washington (Statistics)

I will be looking at a few others as well.

Concerns:

I would like to attend a top-ranked PhD program because I believe the level of competition at those programs will help me stretch my ability further than the competition at a lesser-ranked program. My main concern is the hit-and-miss grades earlier in my college career, and while I would do anything to prove that I can do better than what those grades say, I can't do that right now. While pointing out that I was taking hours of music classes along with the challenging courses could partially explain the results, it is no excuse for them. If a school needs to see better grades, I am strongly considering earning a master’s degree in statistics or applied mathematics along with school to prove that I can earn top grades from a good university.

My take is that other than my grades, the rest of the application is strong - I will have strong recommendation letters from great professors, work experience at a top company, and research experience that will help me stand out among the applicant pool.