Now that you have made the decision to pursue a finance PhD, submit your admission materials to the ASU Graduate College and complete the online application. This page includes helpful details to inform your next steps.
Finance PhD admissions
Application deadlines and elements
Applications can be submitted beginning September 9, and the deadline for receipt of all application materials is January 1. We encourage applicants to apply as early as possible to ensure ASU Graduate College receives all elements by the deadline.
The ASU Graduate College will notify applicants in writing of the admissions committee's decisions. While there is no guarantee you will receive a response on or before a specific date, admission decisions are generally made by late March or early April.
- Online application deadline is January 1
- Supporting documents deadline is January 1
- Admission is granted only for the program starting in the next upcoming second summer session (July of the current year)
- Offers cannot be deferred to another year
Applicants for the PhD program in business administration with a concentration in finance must submit the following to the ASU Graduate College. Note that some elements will be in the general sections of the online Graduate College application or the Supplemental or Additional Info tabs.
- ASU Graduate College online application
- GMAT or GRE score
- Official transcripts from all previous institutions attended
- Letters of recommendation – recommender contact information uploaded through the ASU Graduate College online application (via application tab titled “Supplemental”)
- Personal statement & career objective – uploaded through the ASU Graduate College online application (via the application tab titled “Supplemental)
- Employment summary/resume – uploaded through the ASU Graduate College (supplemental application tab)
- Answers to additional questions about computer competency and calculus/statistical competency – entered through the ASU Graduate College online application (via the application tab titled “Additional Info”)
- Application fee
Evaluation criteria
Strong academic credentials, intellectual curiosity, and commitment are important criteria for admission to the PhD in business administration with a concentration in finance. The evaluation for admission is on a competitive basis. Candidates with previous work experience and a master’s degree are preferred.
The Department of Finance PhD admissions committee reviews applications early each year, and selected students begin their doctoral programs in the second summer session (beginning in July).
Admission FAQs
We receive between 50 and 100 applications per year. On average, we make offers to five students and three accept.
Yes, we accept both the GMAT and the GRE.
You can apply beginning in mid-September until January 1. All your information must be received by ASU Graduate Education by January 1 for you to be considered for admission to the program for the following summer-fall (beginning in the second summer session). There is no option for a spring semester start.
The application process is completed online through the ASU Graduate Education. Please refer to ASU Graduate Education for the online application as well as additional information about graduate studies. Do not send any documents directly to the Department of Finance.
Please comply with the January 1 deadline for application and document receipt by ASU Graduate Education. We cannot consider any applications received after this date. In addition, applications that are not complete (i.e., missing letters of recommendation, GRE/GMAT scores, and TOEFL results for international students) by the deadline cannot be considered.
Up to 30 hours from a relevant master's degree can be transferred into our PhD program.
No, all PhD applications must be completed online.
Your application is considered by the Department of Finance Ph.D. committee. In addition to the general requirements of ASU Graduate Education, the committee considers other factors, including your letters of recommendation, scores from the Graduate Management Admission Test (GMAT) and/or the Graduate Record Exam (GRE), and personal statement of career objectives.
Based on the committee's assessment, a recommendation is made to the Associate Dean (for PhD programs) in the W. P. Carey School, who makes a recommendation to the Division of Graduate Studies. The Division of Graduate Studies then either approves or denies your application and notifies you in writing.
Admission decisions are generally made in late March or early April. Applicants will receive written notification from the Division of Graduate Studies. Application decisions cannot be released by the Department of Finance via phone or email.
No. Students are required to take FIN 700 prior to their first fall semester in the PhD program. FIN 700 is offered only once during the academic year (during the second summer session). Students are not accepted to start the program in the spring semester.
A master's degree is not required, but students with relevant graduate degrees will be more competitive in the application process.
Graduate coursework related to finance tends to make an applicant more competitive. Coursework in calculus, probability, statistics, economics, and linear algebra tends to make a candidate more competitive as well.
No, only the ASU Graduate Education can consider or grant TOEFL waivers.
International applicants
International students applying for doctoral program admission must review and respond to the requirements provided in the Graduate Admissions Information.
All graduate teaching assistants/associates (TAs) whose primary language is not English must take the SPEAK test or the speaking portion of the TOEFL iBT. Global Launch will certify all TAs who take the SPEAK test.
- International transcripts
- SPEAK and iBT scores
If admitted, international applicants should be aware that they could be expected to provide the following additional information:
International student FAQs
Most international applicants, particularly those for whom English is not their first language, are required to submit evidence of English language proficiency by providing the Test of English as a Foreign Language (TOEFL) score. The minimum TOEFL requirement is 550 (PBT) or 80 (iBT). Some international applicants are exempt from having to submit TOEFL scores. For more official information, including the dates after which the English Proficiency Test must be taken to be valid, refer to the English proficiency information.
Applications will not be processed until official TOEFL scores have been received or waived by ASU Graduate Education Admissions. We do not accept IELTS examination scores.
More information on the TOEFL can be found at www.toefl.org or by email at [email protected]. ASU's Institutional Code is 4007. If the Department Code is required for TOEFL, use 99.
Not necessarily. Foreign applicants may not be eligible for federal aid depending on their visa status.