Finance Track - PhD
About the Program
The Finance track is one of the three tracks offered through College of Management’s PhD in Business Administration at UMass Boston. The College of Management admits a handful of candidates in fall and the program is projected to be completed in four to five years. It is a full-time, in-residence program that is designed to prepare students to be both competent academic researchers as well as instructors at comprehensive universities.
Applicants are assessed based on a combination of their prior academic credentials, GMAT scores and evidence of orientation towards both academic research and teaching.
- While there is no minimum requirement for the Graduate Management Admissions Test (GMAT), scores over 650 are desired. In some cases, the Graduate Record Examination (GRE) will also be accepted.
- Students may be admitted with a bachelor’s degree from an accredited university, but a master’s degree is preferred.
- Non-native speakers of English who have earned their bachelor’s degree from a college or university outside the United States must take either the Test of English as a Foreign Language (TOEFL) or the International English Language Testing System Exam (IELTS). Minimum requirements can be found on our admissions page.
- The deadline for completed applications is February 28th, 2018. A completed application consists of the following:
- Completed online application
- Official Transcripts from all higher education institutions attended
- Test scores for either the GMAT or GRE
- Three letters of recommendation
- Current Resume or Curriculum Vitae
- Two essays (details can be found on our admissions page):
- A tentative research proposal.
- Writing sample.
- International Applicants only: TOEFL/ IELTS scores.
Faculty and student interaction
The Finance track provides a unique curriculum that leverages research and teaching from both accounting and finance faculty. This, along with a small cohort, stimulates development of research across both the fields. Rigorous seminar courses allow students to learn and apply econometric techniques used in both fields in their research, as well as engage in interdisciplinary research.
One example of this interdisciplinary research is the application of accounting econometric techniques to Corporate Social Responsibility (CSR). As students go through rigorous coursework in both accounting and finance as well as a seminar course dedicated entirely to CSR, they are engaged in topics at the forefront of research.
Students are assigned faculty as mentors in their first year. Interaction with other faculty members is encouraged by the program through multiple brown bag seminars scheduled over the semesters, as well as seminars that feature external speakers. Through participation in regional seminars such as the Boston Finance Symposium, students are given the opportunity to network with faculty at surrounding universities in order to stimulate research across institutions. Students’ research progress is closely monitored to encourage conference participation as well as ensure that there is a steady stream of working papers in the student’s pipeline.
To see current working projects between faculty and students, please go here.
Coursework and seminar courses
The program is designed to give students a solid foundation in finance, economics, accounting and econometrics in the first year through coursework. The intensity of the coursework takes into consideration that applicants come from multiple disciplines. Students take a qualifying exam in the summer of their first year to proceed. The second year is dedicated solely to seminar courses, with some covering investments, asset pricing, corporate finance, and accounting. Additionally, a course is designed to prepare students for taking on instructor duties in their third year. At the end of the second year, students give their second and final qualifying exam to proceed as ABD (All but Dissertation). The third year onwards is usually dedicated to research, with no coursework.
Students that are accepted in the program generally qualify for both a stipend ($25,000 per year for four years subject to satisfactory academic progress) as well as full tuition credits to cover their educational expenses and help defray living costs. In addition to that, teaching opportunities over summer as well as internships at financial institutions are encouraged to complement the stipend.
For more information on the program, please download our brochure.