Admissions

Criteria:

Admission to our doctoral program is highly selective. We only admit a few select students each year and look for applicants that have research interests that align with those of our faculty.

Typically, successful applicants have a strong undergraduate record (3.5 GPA or higher) and high GMAT or GRE scores (90th percentile and above).  In addition, we value applicants who have a strong interest in academic research, are highly motivated, possess strong communication and analytical skills, and have demonstrated the ability to think creatively and work independently. We value these skills and traits because experience has shown that they are essential for successful completion of a PhD in finance as well as later career success as a finance academic. If you feel that you possess these qualities, we strongly encourage you to apply to our PhD program. For additional information please visit our PhD Programs site.

To be considered for the program, a candidate must complete an application, even if he or she is already enrolled in another program at the University of Wisconsin - Madison. Early or preliminary assessments of a candidate's chance of admission are not provided.

Candidates are evaluated on their full record. This includes the quality of their undergraduate and/or graduate institution, the courses they have taken, GPA, GMAT or GRE score, TOEFL if applicable, statement of purpose, and recommendations. Either the GMAT or GRE is acceptable; we do not require that applicants complete both. In addition, TOEFL is required for applicants whose native language is not English, unless the applicant has a degree from a university where all courses are taught in English. There is no explicit minimum acceptable level for an applicant's GPA, GMAT or GRE; however, in keeping with the graduate school guidelines we do not accept applicants with a TOEFL below 250 (600 on the paper version).  Prospective students may be interviewed either in person or by telephone.

Please note that the application deadline for prospective students seeking financial aid is January 6. The final deadline for all applications is February 1. Typically, admissions decisions are made by the first week of April each year.

Background:

Successful candidates usually have completed and performed well in basic undergraduate microeconomics, macroeconomics, corporate finance, accounting, and investments. In addition, they will have taken three semesters of calculus, two semesters of mathematical statistics, one semester of real analysis, and one semester of linear algebra.  We admit students from a wide variety of backgrounds, and we do not require that a candidate have majored in business or economics. However, the candidate must have taken sufficient preliminary coursework prior to entering. One of our most successful graduates was an English major.