Higher Education

This article marks the end of this rather long series on considering applying to graduate school in Economics or Finance. This has been a rather long journey, and I thank you, the reader, for sticking with me. As I write this on April 15th, I hope this series can serve to help those who will walk a similar path next year or in the years to follow.

So far, this series has focused on improving the application for a PhD in Finance or Economics. However, this last article covers the obvious question: “Where should I apply?”

Going to a PhD directly after receiving a bachelor’s is a possibility; however, for many, it is not probable. Unlike some other fields, Finance and Economics do not require graduate-level education prior to starting a PhD. However, nearly every admissions website will list that it can be a boost to applicants’ profiles. This article will talk about a few paths to a PhD after receiving a bachelor’s degree.

As the application approaches, the statement of purpose and personal statement is one of the last parts of the application that can be changed. Grades, letters, GRE scores, etc., are solidified a few months before the application. This piece is one of the only chances for PhD programs to hear from the applicant directly. It is important, but not nearly as important as most other parts of the application. But as economists, optimizing everything is the goal and these parts are no exception.

The time has finally come to talk about the final stretch, the application. This article covers applying to schools starting from the summer before you apply. If you are applying directly out of undergraduate, this is the summer before your senior year. At this point, what’s done is done; now it is just time to get it all together.

While coursework and grades will undoubtedly boost PhD applications, thinking that learning stops at the classroom door is a terrible mistake. To survive in what is essentially a professor apprenticeship program requires lots of passion, motivation, and dedication.

Now that we have gotten through the math hurdle, it is time to talk about why we are here: economics and finance. As previously mentioned, while an extensive math course load is almost a universal requirement even to be considered for a PhD program, a significant number of students who have not taken a single economics course are admitted each year to programs nationwide and internationally.

In this first article, I will discuss whether the academic route is right for you. Getting a Ph.D. is a long journey. It takes dedication, resilience, and most importantly passion to survive and thrive in this choice. But nonetheless, for those for whom this is the right choice, there is nothing that compares in the end.