Admission chances!!

Question

Hi!!

I am applying for PhD in finance. Can someone please comment on my chances.

GMAT 770, AWA-6/6 (earlier I scored 710)

GPA - 5.7 on a scale of 10 (IIT Bombay)

Experience - 2 years as an Analyst (Capital Market).

SOP - I guess I have presented myself very well

As you can see my GPA makes my application weak, even for a 100th rank Univ.

I am applying to 5 schools

1/ Simon, Rochester
2/ Vanderbilt
3/ Ohio State
4/ USC
5/ Carlson, Minnesota

I don't believe in PhD from a low ranked Univ. So, in case I am rejected I will be looking for some MS in Finance from some good Europian Univs. Can someone suggest me good MS in finance, outside US?

Sameer · Answer

I do not see why a not so good GPA would ruin your chances - provided you spread yourself more. Sure, you won't get in at Harvard and/or Berkeley - who do not like people with even one major weakness in overall app - But other univs are ok.

I suggest two things
(a) For PhD - Apply to more univs. There is nothing like a bad PhD as along as you are within top 50 univs. Most good Schools who offer PhD's are pretty serious about that - they better be, it takes too much of a school's resources. Talk to current PhD students, email to profs. I think there is still time to apply.
(b) Did you manage to get strong recos from Profs at IIT/B ? That would be actually important, given GPA. -"Potential to do research". For example, did you excel in a particular project work, BTech project etc - if so, get that reco.

And for MS outside US - look at LSE. Insead has just started its MS in management program, that would also be very good.

And don't worry from the start

shinny · Answer

Thanks Anupag,

That was really a GOOD feedback!! The main reason why I am not applying to many programs is that the Profs at IIT B don't usually give many recos. They take the letters seriously and for them it is very time consuming. In my case they made it clear that they can give at max 5 recos. So, I am applying to only 5 schools, as applying without reco from IIT B is not a good idea.

I have talked to almost all Schools before shorlisting them. Some of them straighaway told that I will be wasting my time by applying. Some of them were very encouraging.

BumbleBee · Answer

Shiny:

It's unfortunate that profs at IITB just give 5 recos. In fact, I feel that this is not enough support for students who are applying for PhD programs at Business Schools. I am applying to 10+ business schools, and all of my 3 professors (two of them are big name profs in the US) are supporting me whole heartedly in recommending me. I have just realized how fortunate I am to have just unflinching help from my recommenders. 

I hope, you can talk to your professors at IITB and get them to give you more recommendations. As Anup is suggesting, it is truly important that you hedge your risks by applying to around 10 programs. 

Best wishes.
BB

Hjort · Answer

I agree - you have already included some of the best finance programs in the US (if one can survive the cut, Rochester is probably superior to UC Berkeley in finance). I would be more comfortable if you would diversify to some less well known programs that still interest you.

Hjort

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