NYU Stern Ph.D. Program Guide

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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 Contents

1. Why Stern?
2. Key Facts and Figures
3. Stern Ph.D. Community
4. Fields of study
5. Stern Visiting Scholar Program
6. Admissions Overview
7. Application Requirements
8. Application Checklist
9. Application Materials detail
10. Financial Aid
11. Stern Research Resources
12. Stern Ph.D. Degree Requirements
13. Stern Ph.D. FAQs

Why Stern?

A Transformational Experience:  
A number of business schools can boast of excellent PhD programs. However, none has the collaborative culture that the Stern School’s has. Through the cultivation of individual student-faculty and student-student relationships, NYU Stern nurtures students’ innate curiosities while teaching them to use the research tools required to solve the problems they address. By the end of the program, students of the faculty have become colleagues of the faculty, transformed into fully trained scholars capable of doing research on the same level as that of the people who taught them.

NYU Stern’s doctoral students enter a highly select and motivated community of scholars, who thrive in an atmosphere of intellectual rigor and creative collaboration. The PhD student body consists of approximately  110 full-time students  across all departments and stages in the program. With over 200 full-time research faculty, the Stern PhD program has one of the lowest student-to-faculty ratios among top business schools. This results in  a learning environment that is highly collaborative and collegial and in which close, one-on-one mentoring is the norm .

A Collaborative Community 
Student develop collaborative and supportive relationships with faculty and one another. Over the course of the program, students become respected colleagues of the faculty and life-long friends and colleagues with their classmates.

A Global Hub 
In the heart of NYC, Stern’s connection to global business creates the best opportunities for students to develop their research talents and to prepare for academic careers.

Placements 
Stern is proud of the placement record of its Ph.D. graduates. Among U.S. business schools, Stern consistently ranks among the top in doctoral ratings both in the number of graduates and faculty placements at the top 50 business schools.

1-on-1 Access to Faculty 
The formula of success at Stern includes having a 2:1 faculty to student ratio. Over 200 full-time research faculty gives students access to nearly any research question they want to explore.

Key Facts and Figures  
 (as of Fall 2025) 
 
     PhD Program Key Facts  
 
   Number/Description

Faculty 
 520 
 
  Program Enrollment (PhD) 
 103 
 
  Program Enrollment (Pre-Doctoral) 
 1 
 
  Degrees Offered 
 Doctor of Philosophy in Business 
 
  Financial Aid Package 
 Full Tuition Scholarship and Living Stipend

Admissions 
     Admissions Key Facts  
 
   Number

Average Number of Applications Received 
 953 
 
  Average Enrolled Class Size 
 20 
 
  Average GMAT (of enrolled students) 
 720 
 
  Average GRE Quantitative (of enrolled students) 
 168 
 
  Average GRE Verbal (of enrolled students) 
 161 
 
  Average TOEFL (of enrolled students) 
 110

Students 
     Student Body Key Facts (PhD)  
 
   Number/Percentage

Female 
 48% 
 
  Male 
 52% 
 
  Number of Countries Represented 
 17 
 
  International Students 
 70%

Stern Ph.D. Community

Be Part of a Dynamic Community 
NYU Stern's doctoral students constitute a small, but highly dynamic and diverse community of scholars in training who thrive in an atmosphere of intellectual rigor, collaboration and support. Students come from diverse cultural, educational and professional backgrounds, but all of them share a passion for asking and answering important questions.

The small size of the program and culture of mutual support fosters close-knit, supportive friendships among colleagues. Meanwhile, the wider community of NYU and New York City provides almost limitless avenues for PhD students to explore individual interests.

Stern PhD students enter a highly personalized academic environment. With  5 to 25 students per department , and a supportive environment that starts with the faculty, students develop collaborative and supportive relationships with one another. Over the course of the program, students not only become life-long friends and colleagues with their classmates, but they become respected colleagues of the faculty.

Students interact regularly with students in other Stern departments through classes, reading groups, and program-wide social events, like PhD office-sponsored happy hours at local pubs and PhD student-organized athletics events. Students are also integral members of the Stern School as a whole, as full members of their academic department, participants in conferences, and instructors or TAs for Stern undergraduate and MBA students.
 
 The Community at NYU 
Stern PhD students are integrated in the wider NYU community as well. Through attending classes, conferences, and speakers at the NYU Graduate School of Arts and Sciences and the Courant Institute for Mathematical Sciences, Stern PhD students are part of the larger community of more than  25,000 graduate students university-wide . And with NYU's 300+ cultural and social clubs, sports activities and performing arts opportunities, NYU offers many ways for graduate students to find a sense of community and social life.
 
 The New York City Community 
New York City, of course, is also one of the world's premier destinations. From its Washington Square campus in the heart of Greenwich Village, NYU Stern is within easy reach of everything that makes the city such an exciting and inspiring place to call home. Whether it's cultural diversity, art, theater, dining, music, sports, or sight-seeing, New York's treasures and pleasures are hard to exhaust.

Fields of study

Be Part of an Experience 
The  excellence and dedication of Stern's faculty  form the core of the PhD program. Stern doctoral students begin the program learning the tools and state-of-the-art literature of their field from the very faculty who are defining the forefront of their disciplines. Stern offer  eight areas of study  all leading to a  Doctorate of Philosophy in Business , where each student’s course of study is tailored to his or her own interests.
From day one,  Stern doctoral students actively engage in the research process . One-on-one research experiences with multiple faculty members give students wide exposure to different areas of research.

Over the course of the program, students deepen their interests and engage in joint research projects with a smaller number of professors, eventually  becoming equal partners in the research process .

By The Numbers

Fields of Study:  8  
 Full-Time Research Faculty:  200+  
 Average Years to Completion:  6

The following  Eight (08)  Ph.D. fields of study are offered at NYU Stern

Accounting 
 Economics 
 Finance 
 Information Systems (IS) 
 Management 
 Marketing 
 Operations Management (OM) 
 Statistics

Accounting 
The accounting curriculum is designed to provide a thorough understanding of current accounting theory, practice, and research, taught within the framework of modern economic and finance theories as applied to the behavior of today’s corporations and financial markets.

Economics 
The research interests of Stern economics faculty span many areas, with particular strengths in industrial organization and applied micro theory, including applications to strategy, and macroeconomics, including applications to finance and international economics.

Finance 
The finance faculty is comprised of  more than 40 researchers , including a Nobel-prize-winning economist, who are active in all areas of finance—asset pricing, corporate finance, derivatives, market microstructure, and behavioral finance.

Information Systems (IS) 
PhD students at Stern have the advantage of working with IS faculty who also maintain close research ties with the digital, banking, advertising and media industries, which gives students access to unique  “big data”  for research as well as opportunities for experiential learning.

Management 
Management’s areas of focus include strategy, the study of the competitive dynamics of firm performance, organizational behavior, the study of the behavior of individual employees and managers within organizations, organization theory, and the study of organizational structures.

Marketing 
Stern’s PhD program in marketing trains students to perform research in a broad array of behavioral areas such as consumer psychology, information processing, and judgment and decision making, while also teaches students how to conduct research that develops mathematical models.

Operations Management (OM) 
Research topics in Operations Management are drawn from several disciplines, including operations research, management and organizational behavior, economics and information systems, and banking and finance.

Statistics 
Stern, one of the few top business schools that offers a PhD in statistics, combines the theoretical and methodological orientation of a traditional statistics department with a focus on the applications that are central to the concerns of a business school.

Stern Visiting Scholar Program

Each year, outstanding doctoral students from distinguished universities abroad are invited to engage in research and scholarly interaction at Stern for one or two semesters. Visiting Scholar PhD students are given the opportunity to collaborate with Stern faculty and PhD students, participate in departmental seminars, and access NYU's library and research resources.

A desk may be provided if one is available, but it is not guaranteed. Visiting Scholars are not provided with housing or housing services. Additionally, Visiting Scholars are not permitted to function as employees at NYU.

The PhD Visiting Scholars program is intended for current PhD students who are sufficiently proficient in their disciplines to engage in scholarly interaction that would benefit both Stern as well as the Visiting Scholar. As such, applicants must be doctoral students who are near the end of their required coursework or in the dissertation phase.

By The Numbers

Visiting Scholars Per Year:  20-25  
 Average # Semesters at Stern:  1  
 # of Disciplines:  8

Admissions Overview

Admission to the NYU Stern Doctoral Program is highly selective. Stern enrolls on average  20-24 new students each year , across Stern’s eight different fields of study. Students are admitted for the fall semester only. The program is full-time and requires students to be in residence for 11 months of the year. Admitted students receive  full financial support  from Stern for five years, unless they have funding from other scholarships or grants.

What Makes a Good Applicant?

The Stern doctoral program seeks to admit students from a diverse range of backgrounds, who have a passion to learn and ask interesting questions, demonstrate a high level of academic ability, and exhibit the motivation to develop into top quality researchers.

The program looks carefully at applicants’ academic performance as evidenced by courses taken, grades earned, academic references, and the rigor of the institutions attended. Motivation for doctoral studies may be demonstrated through an applicant’s academic, work, and personal experiences, and the personal statement. Applicants should also have thought about questions or problems within their chosen field of study that they wish to explore.

Application Requirements

Who is Eligible?

Students who will have completed their bachelor’s degrees before the Fall enrollment date are eligible to apply. 
 Students from all academic majors are eligible to apply. Having a strong foundation in the basic social sciences, math or engineering, depending on the discipline to which one applies, is preferred. 
 Previous graduate work and professional work experience are not admissions requirements.

All applicants to the NYU Stern School of Business PhD Program are required to submit a complete  application for admission . A complete application includes the online application,  statement of purpose ,  optional essay ,  educational history and resume or CV ,  letters of recommendation ,  test scores ,  academic transcripts , and an  application fee .

Application Checklist

Each year, Stern Ph.D. program welcomes a select group of students to the NYU Stern PhD Program. The following is the application check list:

Statement of Purpose 
 Optional Essay 
 Education and Resume or CV 
 Two Letters of Recommendation 
 GMAT or GRE Score (submitted electronically) 
 TOEFL/IELTS, if applicable 
 Uploaded Official Transcripts 
 Submitted Online Application 
 Application Fee 
 Deadlines

Application Materials detail

Statement of Purpose 
You should write a brief and cohesive essay that addresses the following topics:

Why you have chosen the area of study for which you are applying. 
 What interests you most about this field, and how did your interests develop? 
 Your professional objectives and how your past experiences contributed to defining those objectives. 
 Possible areas of research you might pursue, including any faculty member's research that is of interest to you. 
 Any research projects that you have completed with faculty.

Your essay should be a maximum of  2-3 double-spaced pages  in a 12-point font. Label the top of each essay with the following: Name, Date of Birth (month, day, year), and Page Number.  Your essays should be authored entirely by you. An offer of admission will be revoked if any form of plagiarism is discovered.

Optional Essay 
The purpose of the optional essay is to get to know you as an individual and as a potential PhD student, and to understand how your background will add to the diversity of the school. Please describe how your personal background has motivated you to pursue a graduate degree. You may discuss educational, familial, cultural, socioeconomic, or personal experiences or challenges; gender identity; community services, outreach services, first-generation college status or other matters relevant to your decision to pursue graduate education.  Please note that the Personal History Statement is not meant to be a general autobiography.

You may alternatively use this essay to bring to the Admissions Committee's attention any additional information of a personal or academic nature that should be known in order to ensure a complete and fair evaluation of your application.

This statement is optional and should be limited to one single-spaced page. It should not duplicate the Statement of Purpose.

Education and Resume or CV 
You should provide information for each college and university you have attended full-time for one year or more. You should not list any study abroad programs you have completed while enrolled at the home institution if grades for these programs are included on your transcript.

Reporting Your GPA 
Please make sure to report your GPA for every institution you have attended full-time for one year or more. You do not need to recalculate your GPA if it is not based on a 4.0 scale, however, you are required to report the grading scale used by the institution (e.g. out of 4.3, 5.0, 15, 100).

Prerequisite Coursework 
In your application, please list how you have satisfied the prerequisite coursework, including calculus, matrix/linear algebra, microeconomics, macroeconomics, and probability and statistics.

Honors, Awards and Significant Contributions 
In your application, please list any significant articles, books, research or other creative works you have produced, as well as professional organizations to which you belong. You may also list any awards, scholarships or other types of academic recognition you have received.

Resume or CV 
Please upload your most recent resume or CV to the online application. The resume or CV can be used to summarize all of your qualifications, including your education, qualifications, honors, and interests.

Two Letters of Recommendation 
You are required to submit two letters of recommendation with your application. Please make sure to choose letter writers who are able to evaluate your potential to succeed as a researcher. The admissions committee prefers that all letters be written by academics, however, if you have been out of school for some time, you may alternatively use non-academic letter writers.

Individuals writing your letters of recommendation are required to submit them through the online application. During the application process, you will have the opportunity to register your letter writer, and he, she, or they will receive an email with further instructions.

All letters of reference must be received by the application deadline, December 15.

GMAT or GRE Score 
All applicants are required to take either the GRE or GMAT and must submit test scores electronically. Stern does not accept hard copy test scores. No exceptions will be granted. GRE and GMAT scores are valid for five years from the date taken (from the date you officially submit your application). Expired test scores will not be considered. In addition to the GRE General Test and GMAT, Stern accepts the GRE At Home and the GMAT Online test. Please note that GRE subject tests are not accepted. Applicants should list all test scores from the past five years they wish the admissions committee to consider.  Please do not enter super-scores (entries that contain the highest score from each part of the examination).

Area of Study  
 
   Preferred Test  
 
   Accepted Test

Accounting 
  GMAT 
 
  GRE or GMAT

Economics 
  GRE 
 
  GRE or GMAT

Finance 
  GRE 
 
  GRE or GMAT

Information Systems 
  GRE 
 
  GRE or GMAT

Management 
  GRE 
 
  GRE or GMAT

Marketing 
  GRE 
 
  GRE or GMAT

Operations Management 
  GRE 
 
  GRE or GMAT

Statistics 
  GRE 
 
  GRE or GMAT

All applicants must submit electronic, official test scores to NYU Stern's PhD Program Office using the code below. If you previously applied, you must ask the testing agency to resubmit your official test scores. If you applied to a different degree program at NYU, you must still submit your test scores to the PhD Program Office. Due to the volume of applications received, the program cannot confirm receipt of official test scores. If school needed any additional information they will reach out to you directly.

Test  
 
   Testing Agency  
 
   School Code

GRE 
 
  Educational Testing Service (ETS) 
 
  2582

GMAT 
 
  Pearson Vue 
 
  5TF-HW-82

TOEFL or IELTS, if applicable 
You are required to submit TOEFL or IELTS scores if your native language is not English. TOEFL or IELTS scores must be submitted electronically, and must be from within the last two years to be considered valid (from the date you officially submit your application). Hard copy test scores are not accepted. In addition to the TOEFL iBT, the TOEFL iBT Home Edition is accepted if you are unable to take the traditional TOEFL iBT in a test center. If you take the Home Edition, you may be required to take some English coursework prior to enrolling.

Waivers/Exemptions 
Applicants will be granted an exemption to the TOEFL or IELTS requirement if they  have earned  a U.S. Bachelor's, Master's, or Doctoral degree from an accredited college or university in the United States, or the international equivalent degree from a university of recognized standing in a country in which all instruction is provided in English. In order to be eligible for the TOEFL or IELTS exemption, the degree must be conferred by the time of enrollment in NYU Stern's PhD Program or by June 1st (whichever date comes first). Waivers will not be granted if the courses were completed in a country where English is spoken but not all coursework was completed in English.

Test  
 
   Testing Agency  
 
   School Code

TOEFL 
 
  Educational Testing Service (ETS) 
 
  2586

IELTS 
 
 International English Language Testing System 
 For the IELTS Academic, search for:
 Account Name : New York University Stern School of Business (PhD Program)
  Address : 40 West 4th Street, Suite 826
  City : New York
  State : NY

Uploaded Unofficial Transcripts 
You are required to upload copies of your unofficial transcript from each institution that you list in your online application. All transcripts must be legible, and should include the institution's name, degree conferred, and degree conferral date (if applicable).

If your transcript is in a language other than English, you must also upload a certified English translation. The translation must be a literal and complete version of the original document. School requires both the original transcript in its native language and the English translation for evaluation.

Do not: 
 
 Mail a hard copy of your transcript to the office. 
 Provide separate transcripts for credits that were transferred from a previous institution if the credits and grades are included on the transcript you submit.

If you are admitted to the PhD Program, you will be required to provide an official transcript to Stern offices. Any discrepancy between the uploaded transcript and official transcript may result in the denial of your application or withdrawal of your offer of admission.

Submitted Online Application 
All applicants must apply through online application.  Do not  mail NYU Stern School of Business a duplicate paper copy of your online application.

Application Fee 
The  application fee is $100  and is paid online at the time you submit an application. There is no application fee for the Pre-Doctoral Program. For information on fee waivers, please see the  FAQ section . Fee waiver requests need to be received at least 4 weeks prior to the application deadline.

Deadlines 
All application materials (including test scores and letters of recommendation) must be submitted by December 15 deadline, 11:59 PM Eastern Time. No exceptions to this deadline will be granted.

Pre-Doctoral Applicants 
Pre-Doctoral Program applicants must apply online using the same online application as applicants to the PhD Program. In the application, select “Pre-Doctoral” under “Intended Area of Study.” There is no application fee for the Pre-Doctoral Program. The application deadline is December 15, 11:59 PM Eastern Time.

Financial Aid

The PhD Program at NYU Stern provides all qualified doctoral students with a financial aid package consisting of a living stipend, tuition coverage, health insurance coverage, and an opportunity to hold research or teaching assistantships.

All incoming doctoral students can expect to receive a financial aid package for five years, provided that students maintain satisfactory academic standing. All financial aid awards require residency for 11 months (September through July).

Students also receive financial support for research, conference travel, and research computing needs.

Outside Employment 
The NYU Stern PhD Program is a full-time commitment. Students should not plan to rely on part-time work to cover expenses they may incur.

Stern Research Resources

PhD students at Stern have access to a wide variety of research resources across the school and University.

Computing and Data Resources 
PhD students are equipped with state-of-the-art computing and data resources. Each student receives a one-time hardware stipend to purchase a computer or laptop of their choice, personal workstation in the department, and necessary computing and statistical software upon request. Stern’s high-end servers facilitate large volume data processing and analysis, and Stern's Center for Research Computing supports PhD students with advanced computing needs, and provides access to a number of syndicated datasets.

Behavioral Lab 
Stern’s Center for Behavioral Research provides access to a Behavioral Lab including over 25 computer work stations, and a variety of break-out rooms for conducting research on individuals and groups. In addition, the Behavioral Lab offers services related to all aspects of carrying out behavioral research, including assistance with participant recruitment, study design, implementation, and human subjects approval.

Bobst Library 
Additionally, the NYU Bobst Library’s Business Center houses a general and international business reference collection that includes material on US and international business, investment services, periodical indexes and numerous electronic services that keep the literature at the students’ fingertips.  More than 70 business and social sciences databases,  such as ABI-Inform, Dow Jones, Ebsco, Econ Lit, Global Access, Lexis-Nexis, The Wall Street Journal, Stat-USA and EIU Viewswire are available through the Web-based Virtual Business Library. Other Business Center resources include Datastream and Bloomberg terminals and depository collections of both US government and UN documents containing a wealth of business information.

Research Centers and Institutes 
Stern’s research centers and research institutes also enhance students’ academic experience through hosting frequent conferences that attract international scholars and practitioners, providing research grants, fostering collaboration with other schools at NYU, and providing access to unique data.

Funding 
Students receive necessary funding for data collection expenses by submitting a formal research funding proposal that is reviewed by the Doctoral Program Office.

Stern Ph.D. Degree Requirements

Students are transformed into fully trained scholars, capable of doing research on the same level as that of the people who taught them.

Overview 
NYU Stern’s PhD program is full time, with students admitted only for the fall semester. Students will focus their research and academic experiences in one of the eight fields of study. The typical completion time is five to six years.

Prerequisites 
Before beginning the doctoral program, students must satisfy prerequisites in calculus, matrix/linear algebra, microeconomics, macroeconomics, probability and statistics.

Coursework 
The program begins with coursework consisting of foundational tools (e.g., probability, statistics, economics, econometrics) along with courses in the major area of study. Each student's course of study is designed by the student and an advisor with the student's specific interests in mind, and there is plenty of room for electives in related areas (e.g., psychology, sociology, computer science, economics, etc.).

Field Examinations 
After completing core coursework in the major field, students must pass comprehensive examinations measuring their depth of knowledge in their field of study. These examinations are typically given at the end of the first or second year, depending on the department. Passing these examinations show faculty that students are ready to become active independent researchers.

Teaching 
Students are required to teach just one undergraduate course during their course of study. Teaching provides students with an opportunity to contribute to their department's academic community, while also improving their pedagogical and communication skills. Prior to teaching, all students will attend a teaching workshop to learn best practices.

Research Papers 
Most departments require students to have a working paper by the end of summer as a rising third year student. Students will have access to faculty for guidance on their papers, and will find the experience advances their growth as a researcher.

Advancement to Candidacy 
By the middle of the fourth year of study, students must initiate a major piece of original research -- the dissertation proposal. Students will work closely with faculty in preparing and developing an idea. In addition to the proposal, students must successfully complete all coursework, field examinations, teaching requirements, and research papers in order to advance to candidacy for the PhD.

Dissertation 
Working closely with faculty in their field and potentially across disciplines, the dissertation is the final research project produced by the student. It is the extension and completion of the dissertation proposal.

Stern Ph.D. FAQs

Click here  for Stern Ph.D. FAQs.
 
 Good Luck!

NYU Stern Ph.D. Program Guide

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PhD Program Key Facts	Number/Description
Faculty	520
Program Enrollment (PhD)	103
Program Enrollment (Pre-Doctoral)	1
Degrees Offered	Doctor of Philosophy in Business
Financial Aid Package	Full Tuition Scholarship and Living Stipend

Admissions Key Facts	Number
Average Number of Applications Received	953
Average Enrolled Class Size	20
Average GMAT (of enrolled students)	720
Average GRE Quantitative (of enrolled students)	168
Average GRE Verbal (of enrolled students)	161
Average TOEFL (of enrolled students)	110

Student Body Key Facts (PhD)	Number/Percentage
Female	48%
Male	52%
Number of Countries Represented	17
International Students	70%

Area of Study	Preferred Test	Accepted Test
Accounting	GMAT	GRE or GMAT
Economics	GRE	GRE or GMAT
Finance	GRE	GRE or GMAT
Information Systems	GRE	GRE or GMAT
Management	GRE	GRE or GMAT
Marketing	GRE	GRE or GMAT
Operations Management	GRE	GRE or GMAT
Statistics	GRE	GRE or GMAT

Test	Testing Agency	School Code
GRE	Educational Testing Service (ETS)	2582
GMAT	Pearson Vue	5TF-HW-82