Ask Any Question

What is the average GMAT score accepted by PhD programs in the US?

Beau - 2010-07-23 08:54:28 - Higher Education (University +)

I'm a Finance major at Western Kentucky University with a 3.8 GPA looking to get into the best PhD program that I can afford. In the spring I plan on taking the GMAT and I am wondering what the average score is for admittance into a good/great Finance PhD program. I am aware that having an MSF and some corporate experience are often requirements, but am simply interested in how the GMAT factors into the admission process.

Best Answer:

An MSF and work experience are never requirements, in fact the best preparation for a PhD in finance is a statistics master's degree. Anywho, I hope you know that all finance PhDs are fully funded, so getting into the best program you can afford means just getting into the best program you can. For the top programs the average GMAT is probably around 750, and the cutoff is around 700. Score lower than 700 and you don't make it past first round of admissions. For the rest of the schools in the top 50 I would say the average is slightly lower, bit still with no one under 700 (maybe a few...). In my program we have yet to have a kid come in with lower than a 710 GMAT. I would check out the TestMagic.com business forums to get more info, since lots of finance doctoral students hang out there and can answer your questions. With just a finance degree, though, you won't get into any programs (or it will be very hard), unless you have taken enough courses for a math degree, as well. I would recommend a master's in something very quantitative. Good luck!

Answers:

An MSF and work experience are never requirements, in fact the best preparation for a PhD in finance is a statistics master's degree. Anywho, I hope you know that all finance PhDs are fully funded, so getting into the best program you can afford means just getting into the best program you can. For the top programs the average GMAT is probably around 750, and the cutoff is around 700. Score lower than 700 and you don't make it past first round of admissions. For the rest of the schools in the top 50 I would say the average is slightly lower, bit still with no one under 700 (maybe a few...). In my program we have yet to have a kid come in with lower than a 710 GMAT. I would check out the TestMagic.com business forums to get more info, since lots of finance doctoral students hang out there and can answer your questions. With just a finance degree, though, you won't get into any programs (or it will be very hard), unless you have taken enough courses for a math degree, as well. I would recommend a master's in something very quantitative. Good luck!