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Frequently Asked Questions

This FAQ page complements the Bauer College Doctoral FAQ page.

How many applications do you receive?

Usually, the Department of Finance receives approximately 75 applications for 3-4 slots.

Do you have a minimum GMAT/GRE score?

While there are not fixed thresholds, if your GMAT/GRE score is under 640 (GRE score = [Quant+Verb]/2), and/or you are under the 85% in the quantitative GMAT/GRE part, your chances of admission are low. Admission decisions, however, are not based solely on your GMAT/GRE scores. We look at all parts of your application very carefully.

Do I need to take the TOEFL if I am studying in the U.S.?

If, by the time you enroll in our program, you have a degree from an English speaking country (U.S.A., Canada, U. K., Australia, Belize, etc.), you do not need to submit a TOEFL score.

What is the usual profile of an admitted Ph.D. applicant?

Ph.D. applicants are admitted on the basis of past academic performance. Applicants usually have demonstrated very good quantitative skills. In recent years, the average admitted student to the Department of Finance at the Bauer College of Business had a GMAT score of 698 (lowest score 640, highest score 760), with a 3.74 GPA. The average admitted student had a quantitative GMAT/GRE score of 95% (lowest score 87%, highest score 99%). Also, the average admitted student had a graduate degree.

Do I need work experience to apply to the Ph.D. program in Finance?

The Department of Finance does not have any specific requirement about job experience. The most important qualifications are:

  • GMAT/GRE Scores
  • Past Academic Performance
  • Letters of Recommendation
  • Statement of Purpose.

When is the application deadline for the Department of Finance?

We accept applications for the Fall semester only; the application deadline is March 31. The Department of Finance, however, encourages early applications. Applicants should note that the Department of Finance will only consider complete applications. Therefore, all applicants should mail all the required materials to complete the application in time to reach the Department of Finance by the deadline.

Do you consider late applications?

The Department of Finance may evaluate applications after the deadline. If you are considering a late application, please email the Finance Ph.D. coordinator, Professor Kris Jacobs (

Are applications to the doctoral program accepted for Spring semester?

No. The Department of Finance accepts applications only for Fall semesters.

I'm a Ph.D. student at UCLA. Can I transfer my exams and classes to your program?

We do not have a Ph.D. transfer policy at the University of Houston.

Unfortunately, you will have to apply and take our comprehensive exam like any other new Ph.D. student. Any Ph.D. student can petition to transfer up to four Ph.D. courses taken elsewhere.

Do you take part-time students?

No. The Ph.D. Program is designed for full-time students only.

Can you waive the application fees?

Generally, no. But there are a few exceptions. Please visit this page for more information.

What is the ranking of the Finance Department?

By the number of publications in the top four journals in finance (Journal of Finance, Journal of Financial Economics, The Review of Financial Studies, Journal of Financial and Quantitative Analysis), our Department consistently ranks in the top 50 in the world.

What do your Ph.D. students do after graduation?

Our Ph.D. graduates get jobs in Academia (LSU, Baylor University, Central Florida University, Duquesne University, West Virginia University, University of Massachusetts-Lowell, Sacred Heart University, Wilfred Laurier University, ITAM, National Taiwan University), in the public sector (U.S. Department of the Treasury) or in the private sector (Cornerstone, AIM/Invesco, Blackstone, Barclays, Bank of America, Center Point Energy, Prudential, Russell Investment Group, UBS Securities). Our Ph.D. students have published in the top finance journals: Journal of Finance, Review of Financial Studies, Journal of Business, JFQA, Journal of Empirical Finance, Financial Management, etc.

When will I hear from the Department of Finance about the admission decision?

For the Department of Finance, the application deadline is March 31. To give time for letters of recommendation and other supporting material to arrive to the Bauer College, the Ph.D. Committee will meet fourteen days after the application deadline. It usually takes from 14 to 21 days to sort through the applications and make final admission decisions. In general, we complete our decision process by about two months after the application deadline.

What is the GMAT/GRE/TOEFL code for the University of Houston?

The GRE/TOEFL code is 6870. (It is listed under University of Houston - University Park.) The GMAT for the Ph.D. in Finance is XT1-26-69 (It is listed under C. T. Bauer College of Business, Ph.D. Program).