Marshall (USC) Ph.D. Program Guide.

Question

I am starting the Ph.D. guide series to get you everything about Ph.D. programs at one place. As a matter of accuracy and authenticity, I will use only the school’s official website for any kind of information. This thread will help members at GMAT Club in getting unified information, instead of juggling multiple websites online.

Table of Content

1. Introduction
2. Why Marshall?
3. Application Timeline
4. Application Requirements
5. English Language Requirement
6. Program Materials
7. Research Support & Awards
8. Financial Support
9. Marshall Ph.D. Contact

Introduction

The USC Marshall School of Business fosters an entrepreneurial and global mindset across all disciplines, and this thought-leadership starts in the faculty and student research. The PhD Program is dedicated to developing researchers who will become innovators as faculty at business schools throughout the world. A desire to lead through research, academic potential, and personal discipline are the qualities it takes to succeed as a Marshall PhD student. The new students Marshall enrolls each year embody this spirit.

Why Marshall?

Real-World Learning 
Over its 100-year history, Marshall has forged deep ties with dynamic companies and business leaders, not only in southern California, but across the country and all around the world, creating unlimited opportunities for its students across a broad range of industries.

USC Marshall integrates its core curriculum with a spectrum of hands-on learning opportunities so that our students can take what they learn in the classroom and apply it to the real world, in real time. In the process, they learn more about themselves, the dynamics of teams, and the broader societal context in which business operates.

Human Leadership 
The pace of technological change, globalization, and heightened stakeholder expectations have vastly expanded the business world’s definition of leadership. Through the innovative teaching practices and educational programs, Marshall trains 21st century business leaders to take full advantage of the endless opportunities made possible by technological progress while also managing its far-reaching social consequences.

Tech Fluency 
Marshall has made extraordinary investments to be at the forefront of educating future business leaders to take full advantage of the unprecedented opportunities made possible by technological change, while also responding to the far-reaching societal change innovation often generates.

From blockchain and digital finance to self-driving vehicles and personalized medicine, Marshall has created cutting edge courses to equip both undergraduate and graduate students with the advanced technical skills needed to harness the power of this innovation to improve the quality of life of people all around the globe.

Global Opportunities 
Located in one of the world’s leading business centers and the gateway to the Pacific Rim, USC is among the very best, most global universities in the U.S.—and no part of USC is more global than Marshall. The global community at Marshall creates an exciting atmosphere of learning and discourse. Marshall has made considerable investments in programs, centers, research, experiences, and intellectual capital to broaden student perspectives and career pathways.

Application Timeline

December 15, 2026 : Application Deadline – Data Sciences & Operations and Management & Organization
 January 15, 2027 : Application Deadline - Finance & Business Economics

You can submit your application until 11:59 PM PST on the deadline date. Ensure you allow time to complete the required payment section. You must click Submit and complete the final payment information before the deadline in order to guarantee your submission is accepted.

Application Requirements
  
- Completion of Bachelor’s Degree
- Transcripts
- GRE or GMAT scores
- IELTS or TOEFL scores (international applicants)
- Statement of Purpose
- Resume/CV
- Three Letters of Recommendation
- Passport
- Application Fee ($105)

All required application materials (below) must be submitted. In the online application system, you will be required to fill out four sections. Please refer to the following four sections (Personal Information, Academic History, Supporting Information, and Program Materials) in which to submit your documents. Please refer to the Program Materials section of the Marshall PhD Program Application to specify the program (finance, management, marketing, operations, or statistics) you would like to pursue. Under the questions on the program materials section, you will identify your program track of interest.

Inputting unofficial (student) score reports via the online application system is a requirement to complete the Marshall PhD application. It is understood that you may have requested official score reports be sent to USC when you took your exams, but, unfortunately, these records are not immediately available to the Marshall PhD program. Even if you have requested official score reports to be sent to USC, you still need to input the unofficial (student) score report to the online system to ensure timely review of your application. Official test score reports will be requested of applicants who proceed to Round 2 of applications review. Round 2 decisions are sent in mid- to late-February.

When applying, the program recommends using a personal email address that you will maintain access to for the foreseeable future rather than university or temporary accounts that you may lose access to. The program office is only able to communicate admissions decisions to the email address used at time of application.

Academic History 
Completion of Bachelor's Degree or the Equivalent by Term of Admittance: Applicants must have completed or expect to complete a four-year bachelor's degree (or its equivalent) by the beginning of the Fall 2026 semester with the equivalent of a 3.0 GPA (B average) on the U.S. 4.0 scale. 
Transcripts (unofficial copies of ALL transcripts must be uploaded): Uploading unofficial transcripts via the online application system is a requirement to complete the Marshall PhD application.

Please do not upload protected PDF copies of the transcript to the online application system.

Official transcripts may be requested of applicants who proceed to Round 2 of applications review. Round 2 decisions are sent in  mid- to late-February.  GRE or GMAT scores (valid scores must be submitted; no exceptions):

All applicants, regardless of academic history and work experience, must submit a valid GMAT or GRE score. The program is now accepting GMAT Focus in addition to the traditional GMAT score.

Submitting official scores: 
 GRE:  Code is 4852. No department code is required.
 GMAT:  Code 389-9C-89

English Language Requirement
  
International applicants must demonstrate English-language proficiency by submitting TOEFL or IELTS scores.

Minimum Requirement for PhD Programs 
TOEFL: Total 100; each band 20
IELTS: Overall 7; each band 6

Code: 
 TOEFL:  4852 (no department code is required)
 IELTS:  Choose “University of Southern California, Graduate Programs” from the list of available institutions.

As a reminder, inputting unofficial (student) score reports via the online application system is a requirement to complete the Marshall Ph.D. application.

Personal Information 
In this section of the online application, you will be required to provide your personal information such as First and Last (Family) Name, Date of Birth, Gender, Phone Number, Email Address, Mailing Address, etc.

Supporting Information 
 
 CV/Resume

Program Materials

Three Letters of Recommendation: 
 Letters of recommendations are submitted via the online application system. In the online application, you will submit the names and email addresses of three recommenders. The system will send them an email that provides instructions on how to submit the recommendation letter on your behalf.
 
 The admissions committee prefers recommendations from academics familiar with your scholastic and research capabilities; those from faculty members with whom you have worked in a research capacity are particularly valued. 
  Personal Statement:  Please upload a personal statement addressing the following two prompts:  
 
1) Statement of Purpose:  Please describe why you wish to pursue a PhD degree in Business Administration in your chosen field of specialization. Please also explain why you believe that the Marshall School of Business would be a good fit for you.

2) Research Experience/Interest:  Please describe any significant academic research experience you have had, if any. Indicate who you worked with, the topic you studied, the skills you developed, activities you engaged in and the output from the project (e.g., conference paper, publication, etc.). You can also describe your research interest as well. If desired, you can upload additional documents pertaining to your research experience. For example, if your previous research experience culminated in a conference paper or journal publication, you can upload it under  "Optional Documents"  below. Again, this is not required.

International Students Only:  Financial documentation and Passport
It is not necessary to submit financial documents or a copy of a valid passport for your application to be reviewed or for an admission decision to be rendered. However, a passport is required for certified students to  request I-20  in  Trojan International .
The PhD Program will provide funding admission to Graduate Admission for admitted students.

English Language requirements

TOEFL (Test of English as a Foreign Language) 
USC accepts the TOEFL iBT Home Edition, iBT Paper Edition, and the standard in-person TOEFL iBT administered in official test centers. Admitted students are exempt from taking the ISE Exam with the following scores:*
For exams taken  prior  to January 21, 2026:

PhD programs  
 100 or above, with 20 or above in each section. 
 
   Master’s degree programs  
 90 or above, with 20 or above in each section.

For exams taken  on or after  January 21, 2026: 
    PhD programs  
 5 or above, with 4 or above in each section.  
 
   Master’s degree programs  
 4.5 or above, with 4 or above in each section.

*As of January 21, 2026, ETS uses an updated scoring system for the TOEFL.

Sending official scores to USC:
 USC must receive scores electronically from the testing service for them to be considered official. Photocopies or paper copies of scores are not acceptable.
USC’s institution code is  4852 . No department code is required. IELTS (International English Language Testing System).

USC accepts IELTS Academic and IELTS Online scores. Admitted students are exempt from taking the ISE Exam with the following scores:

PhD programs  
 
  7 or above, with 6 or above on each band.

Master’s degree programs  
 
  6.5 or above, with 6 or above on each band.

Sending official scores to USC:  
Select “University of Southern California — Graduate Admission” from the list of available institutions when you register to take the IELTS test. Alternatively, provide this information to your testing center after you have taken the test. Contact information for the USC department to which you are applying is not required.

USC must receive scores electronically from the testing service for them to be considered official. Photocopies or paper copies of scores from the testing service are not acceptable.

Cambridge English Qualifications 
USC accepts the Cambridge English C1 Advanced Exam. Admitted students are exempt from taking the ISE Exam with the following scores:

PhD programs  
 
  185 or above, with 169 or above on each skill.

Master’s degree programs  
 
  176 or above, with 169 or above on each skill.

Sending official scores to USC:  
Select “University of Southern California” from the list of available institutions when you register to take the C1 Advanced Exam. Alternatively, provide this information to your testing center after you have taken the test. Contact information for the USC department to which you are applying is not required.

USC must receive scores electronically from the testing service for them to be considered official. Photocopies or paper copies of scores from the testing service are not acceptable.

PTE (Pearson Test of English) Academic 
USC accepts PTE Academic and PTE Academic Online scores. Admitted students are exempt from taking the ISE Exam with the following scores:

PhD programs  
 
  68 or above, with 53 or above on each band.

Master’s degree programs  
 
  61 or above, with 53 or above on each band.

Sending official scores to USC:  
Select “University of Southern California” from the list of available institutions when you register to take the PTE Academic test. Alternatively, provide this information to your testing center after you have taken the test. Contact information for the USC department to which you are applying is not required.
USC must receive scores electronically from the testing service for them to be considered official. Photocopies or paper copies of scores from the testing service are not acceptable.

English-Language Test Waiver 
International applicants are exempt from submitting English-proficiency scores under the following circumstances:

You hold a degree (bachelor’s, master’s, or doctorate) from USC or are currently enrolled in a USC degree program. 
 You hold a bachelor’s degree completed in its entirety in the United States or the equivalent of a U.S. bachelor’s degree in a qualifying Anglophone country (as defined below). To determine degree equivalency, please refer to the  country requirements page . The bachelor’s degree should be earned at a regionally accredited university located in the United States, or at an officially recognized university in another country where English is both the language of instruction and the only officially recognized language of the country. The entire program needs to have been completed in the qualifying country. Dual-degree holders who completed just part of their degree in the U.S. or other qualifying country, and students who have transferred credits from a non-Anglophone country, do not qualify for this waiver. 
 You have  completed  a master’s or doctoral degree from a country in which English is both the language of instruction and the only official language. The degree needs to have already been completed at the time you submit your USC application. Applicants who have not yet completed a qualifying master’s or doctoral program at the time they apply will still need to submit English-proficiency scores. 
 Your native language is English. This applies to native English speakers from countries such as the United Kingdom, Australia, New Zealand, and Canada (except Quebec), where English is both the only official language of the country and the language of instruction.

USC does not waive the English-proficiency requirement based on any other consideration such as work experience, ESL enrollment, amount of time spent in the U.S., etc. It also cannot be waived on the basis of programs taught in English in non-Anglophone countries. To determine if USC requires TOEFL/IELTS/PTE scores for your country of study, please check the  Country Requirements  page.

Exceptions:  The Office of Graduate Admission does not have the authority to grant exemptions to the university’s English-proficiency policies on the basis of applicant requests. Exemption requests submitted directly to our office by applicants themselves are automatically denied. If you have extraordinary circumstances that you believe may merit an individualized exemption, please contact your intended graduate program to discuss available options.

Research Support & Awards  
Marshall Ph.D. students are provided with a discretionary account for teaching and research activities. The annual funding increases as the student progresses in the program into more research activities in the later years.

After advancing to candidacy, students become eligible for competitive research awards open exclusively to USC Marshall Ph.D. students. Past awards have been sponsored by the Ford Foundation, USC Marshall Lloyd Greif Center for Entrepreneurship and other awards sponsored by Marshall or the USC Graduate School.

Financial Support

The USC Marshall School of Business provides full financial support to PhD students for five years in the form of a fellowship or assistantship. After a student has advanced to candidacy (typically in the third year), the student becomes eligible for additional research awards.

Funding Package: Fellowships & Graduate Assistantships 
All applicants who apply by the deadline(s) are automatically considered for competitive funding package each year. Accepted students receive a funding package that includes a full tuition waiver, generous stipend, individual health and dental insurance, coverage of student health center fees, and mandatory university fees each year. The total financial support provided is  approximately $130,000 per year , depending on a student's course-load.

Fellowship recipients are guaranteed funding through either the continuation of the fellowship or through an assistantship for five years provided they maintain satisfactory academic progress.

Outside Funding 
Occasionally a student brings outside funding to replace or supplement the funding from the USC Marshall School of Business. Examples of outside funding sources include the foreign governments and the National Science Foundation program. Such funding is acceptable, but applicants should understand that funding source is not considered in the evaluation process. Marshall accepts only the top applicants regardless of the source of funding.

Marshall Ph.D. Contact

Ph.D. Program
Marshall School of Business
University of Southern California
3670 Trousdale Parkway, BRI 306
Los Angeles, California 90089-0809
 phd@marshall.usc.edu

Good Luck!

Marshall (USC) Ph.D. Program Guide.

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My Rewards

PhD programs	100 or above, with 20 or above in each section.
Master’s degree programs	90 or above, with 20 or above in each section.

PhD programs	5 or above, with 4 or above in each section.
Master’s degree programs	4.5 or above, with 4 or above in each section.

PhD programs	7 or above, with 6 or above on each band.
Master’s degree programs	6.5 or above, with 6 or above on each band.

PhD programs	185 or above, with 169 or above on each skill.
Master’s degree programs	176 or above, with 169 or above on each skill.

PhD programs	68 or above, with 53 or above on each band.
Master’s degree programs	61 or above, with 53 or above on each band.