Welcome to the Ph.D. program in the
Department of Finance
Thank you for your interest in the University of Tennessee's Ph.D.
program in Finance. The following information should answer most of your questions about
our program. The toolbar at left has links to application forms and course
descriptions.
Overview
Our's is a four-year, full-time, research-oriented program.
Although many of our students have already completed an MBA, it is not required for
admission. We do not offer a Masters degree in Finance, and it is not required for
admission. Students begin the program in the Fall, and take courses in the Fall and
Spring semesters. Summer is usually devoted to research and possibly teaching.
Admissions
We admit two to three students every year; two typically receive
financial aid. The GMATs and GPAs of our students vary from year to year, with GMAT scores
ranging in the 600s and 700s. We are interested in attracting talented, motivated students
who have been successful in their careers to date.
Students must apply to BOTH the Graduate School and
the College of Business. There are two separate applications (links are at
left). Also note: We require the GMAT, not the GRE.
Deadlines: The UT Graduate School sets admission deadlines so check with
them, at left, for the most current dates.
Assistantships
Assistantships are about $12,000 per academic year, paid over 12 months,
and include a tuition waiver. In addition, some of our students receive grants. In the
past, summer teaching (and extra pay) has been available, although we cannot guarantee its
availability.
Usually, the first year assistantship is a research
assistantship and subsequent years involve both teaching and research.
Tuition and fees for 2003 are estimated to be $12,628 per year for
out-of-state students and $4,466 for in-state students. Living expenses will vary
depending on your lifestyle and number of dependants. The Graduate School estimates
living expenses for a single student to be $12,400 per year.
International students should see the additional information below, and
the links at left.
Interviews
Campus interviews are not mandatory, but we prefer to have one if
possible. A Ph.D. program is a major undertaking for both the student and the University,
and we want to be sure that we are a good match. If you are planning to be in the area, we
suggest that you make plans to visit. If this is not possible, we require a telephone
interview. However, a personal visit is much better for both of us.
Special information for international applicants
TOEFL
A Test of English as a Foreign Language (TOEFL) score must be submitted for all foreign
applicants except those who have received a degree from an accredited U.S. institution
within the past two years.
Test of Spoken English (TSE)
A TSE score is not required for admission to the Graduate School or to our program.
However, our assistantships involve teaching undergraduates after the first year and so
every student on assistantship must have excellent spoken English skills. In order
for a foreign student to be certified to teach by the University, he or she must score at
least a 50 on the SPEAK test, which is a
locally-administered version of the Test of Spoken English (TSE) (The TSE
is administered by the same organization that administers the TOEFL.
The SPEAK test is administered here at UT, and is free.) This is important:
Because all of our assistantships involve teaching after the
first year, every foreign student in our Ph.D. program MUST score at least a 50 on the
SPEAK test or on the TSE by the end of their first year in order to be eligible for
continued support. Graduating from another U.S.
institution does not satisfy this requirement.
A further note about deadlines
The graduate school deadline for international applications is February 1.
Note, however, that even if you apply by this deadline, your application still might not
be processed in time for you to obtain the proper visa to allow you to enroll. If
transcripts are delayed, or if you take a long time to provide any required financial
information, your admission will be delayed. It takes much more time to have
transcripts translated and verified, to verify financial information, and to process an international
application than it does for a domestic application. We recommend that international
students apply before January 1 if possible, to give you the best chance of enrolling
should you be admitted.
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