phd finance programs in texas

Ph.D. Finance

The Ph.D. in Business Administration – Finance offers students a rigorous course of work and the chance to conduct cutting-edge research under the guidance of Mays’ faculty, including some of the world’s leading scholars in their respective fields. The program prepares students for successful careers as academics, industry researchers and/or business consultants.

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Academic Overview

Our Ph.D. in Business Administration – Finance program provides rigorous coursework and research activities for an in-depth understanding of the theoretical, conceptual, and managerial foundations of finance.

Degree Details

Duration: 5 years

Class Type: In-Person

Location: College Station

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Below is a list of application requirements and information for pre-requisites for each applicant.

• Completed Online Application in BusinesCAS
• Completed Essay Questions
• Three Letters of Recommendation
• GMAT/GRE scores
• TOEFL or IELTS (International Candidates)

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Over the course of the program, candidates will aim to develop an extensive repertoire of research, coursework, and publications. We offer a number of resources to aid students in their work such as the workshop program.

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Develop advanced competencies for conducting quality research, directing research of others and communicating research findings through teaching and writing. Learn from our renowned scholars represent thought leaders in; corporate banking, investment banking and banking.

Develop advanced competencies for conducting quality research, directing research of others and communicating research findings through teaching and writing. Learn from our renowned scholars represent thought leaders in; macroeconomics, urban economics, information economics and more.

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Develop advanced competencies for conducting quality research, directing research of others and communicating research findings through teaching and writing. Learn from our renowned scholars represent thought leaders in Real Estate.

Develop advanced competencies for conducting quality research, directing research of others and communicating research findings through teaching and writing. Learn from our renowned scholars represent thought leaders in FinTech.

The Adam C. Sinn ’00 Department of Finance

As one of the country’s top finance departments, our goal is to provide students with the theoretical and empirical tools necessary to achieve high levels of expertise in all areas of finance. Our graduates are well prepared to work in both private and public sectors.

Get prepared for the exciting world of Finance. From Wall Street to Main Street, our programs and strong corporate relationships will provide you with knowledge, skills, and experience for a successful career. Join one of our many programs and become an exceptional candidate, highly sought after by a wide range of firms nationwide.

Adam C. Sinn ’00 Department of Finance 

Ph.D. in Finance

Our Ph.D. in Business Administration offers students a rigorous course of work and the chance to conduct cutting-edge research under the guidance of Mays’ faculty, including some of the world’s leading scholars in their respective fields. The program prepares students for successful careers as academics, industry researchers and/or business consultants.

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Finance PhD

Doctoral Program

The PhD in Finance provides comprehensive study in the areas of corporate finance, investments and asset pricing and financial econometrics. Graduates will be prepared for careers as university professors focused on research and teaching, as well as careers as government researchers and industry experts.

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Why Pursue a PhD in Finance

The PhD in Finance offers classes that are diverse in terms of professional experience, academic experience, cultural influences and international experiences. Commitment to research and a passion for teaching are two of the qualities that distinguish both our doctoral faculty and our graduates. Students work closely with faculty members in small classes, seminars, research projects and other assignments, aimed toward developing the analytical skills competencies to conduct independent quality research.

Research Opportunities

At the Alvarez College of Business, professors are conducting research in their fields to strive for current findings. In turn, this also helps students keep current and aware of trends or changes in the fields of Accounting, Finance, Information Systems & Cyber Security (IT), Marketing, Management & Organization Studies (Management) and Management Science & Statistics.

Careers in Higher Education and Research

The primary focus of a doctoral program is to prepare qualified candidates for academic careers in higher education, teaching, and research. Data predicts a strong demand for business school faculty for the next 15 years. Becoming a university faculty member is a gratifying experience that offers collaboration with students and other faculty, as well as fair compensation.

When you earn your degree, you will be prepared to start your professional career as an assistant professor at an academic institution. Faculty mentors at UTSA can assist you with finding the perfect job upon graduation. Program graduates are also qualified to hold research positions in government and industry.

Register for an Info Session

Interested in learning more about UTSA’s Carlos Alvarez College of Business Finance PhD program? Register to attend an upcoming Information Session where you’ll have the opportunity to review application procedures, learn admissions requirements and ask questions.

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Application Deadlines

Funding opportunities, career options, admission & application requirements.

Applications are submitted through the UTSA Graduate Application . Please upload all required documents (listed below) on your UTSA Graduate Application. It is the applicant’s responsibility to ensure completion and submission of the application, a nonrefundable application fee, and all required supporting documents are on file with UTSA by the appropriate application deadline.

Applicants are encouraged to have their admission file completed as early as possible. All applications, required documents and letters of recommendation, if applicable, must be submitted by 5:00 PM U.S. Central Time on the day of the deadline. Deadlines are subject to change.

PhD’s are generally funded with a financial package which consists of an assistantship in the form of a research or teaching assistantship with paid tuition and fees for up to four (4) years.

For more information about graduate funding, click below.

UTSA prepares you for future careers that are in demand. The possible careers below is data pulled by a third-party tool called Emsi, which pulls information from sources like the U.S. Bureau of Labor Statistics, U.S. Census Bureau, online job postings, other government databases and more to give you regional and national career outlook related to this academic program.

Earning a Master's Degree

While in a doctoral program, a student may earn a master’s degree provided the following conditions are satisfied:

• A student must be admitted to candidacy.
• A student is eligible to receive a master’s degree upon completion of University-wide requirements and any additional degree requirements specific to the program.
• The Doctoral Studies Committee, Department Chair, and the Graduate Associate Dean of the College must recommend students for the degree.
• The student must apply for graduation by the published deadline the semester prior to awarding the doctoral degree.
• All required coursework in the doctoral program at the time of admission to candidacy must have been taken within the previous six years.
• If the master’s degree requires a thesis, the degree cannot be awarded on the basis of the doctoral qualifying examination.
• Students will not be approved for an additional master’s degree in the same field in which an individual has previously received a master’s degree.

Course Offerings & Schedule

This is a full-time program and most courses are offered during the day. Students must enroll for nine hours in the fall semester, nine hours in the spring semester and three hours in the summer semester.

This program is does not offer a hybrid or fully online modality. All PhD programs in the college are in-residence and admitted students are expected to complete the program in-person.

PhD students normally serve as either a teaching assistant or research assistant throughout the program. These experiences are an important part of the training and overall doctoral experience. It would be difficult for someone to manage both a full-time job and the doctoral program’s requirements; therefore, it is not recommended.

Frequently Asked Questions

Admission process, what are the key factors on which admissions are based, and who decides.

Admission is based on

• Undergraduate transcripts (and graduate, if applicable)
• Standardized test scores
• Recommendations from former professors or employers who can speak to your ability to do doctoral-level work at UTSA

The admission committee is looking for evidence that you understand the specific nature of the program that you are applying for, that you can articulate your scholarly intentions that fit with the research interests of current faculty and that you are academically prepared to succeed in the program.

The most important part of your application is your statement of purpose. Although outstanding grades and test scores are important, you should construct a clear, persuasive, well-written statement of purpose in order to be competitive.

I am completing an undergraduate degree. Am I eligible to apply?

Yes; however, you must take additional leveling courses and complete any graduate coursework where your academic background is insufficient. The catalog states that the PhD requirement is “66 hours beyond the master’s degree.” Therefore, the time required to complete a PhD will most likely be much longer for a candidate without a master’s degree than for a candidate with a master’s degree.

When are admission decisions made?

Admission decisions are typically made in March; however, exceptionally qualified candidates are considered earlier.

Can I submit GMAT/GRE test scores after the application deadline?

No. All application documents must be received by the application deadline and incomplete applications will not be considered. You will be required to upload unofficial copies within the Graduate Admissions Application.

Can I wait to submit the foreign credential evaluation (ECE transcript) until after I am accepted to UTSA?

No. Foreign credential evaluations must be received by the application deadline for your application to be processed. Processing time may take up to three weeks, and students should plan accordingly with the admission deadlines of the programs for which they are applying.

Do you accept WES transcript evaluations?

All NACES accredited evaluators are accepted.

Program Expectations

What should i expect as a doctoral student.

Your role and the expectations will change as you progress in the program. Initially, your role will be as a student with the expectation that you attend and participate in doctoral seminars with other students. Expect to read a great deal and write papers.

To prepare to become a university professor, you will work closely with faculty members to learn how to teach. You will start as a teaching assistant and work toward teaching classes independently.

Conducting research is another area of focus where you will work closely with faculty on research projects. Under the direction of a faculty committee, you will conduct original research that will be the basis for your dissertation.

How long does this program take to complete?

Most students will need four years. Plan for at least two years to complete the coursework. Add another year to pass the comprehensive exams, develop a dissertation topic and defend your dissertation proposal. Dedicate your final year(s) to dissertation research.

Are PhD students required to teach?

Teaching is crucial to your academic career and job prospects. Every PhD student should gain teaching experience before graduating. Initially, students may work as research assistants for faculty members and may also assist in teaching various courses. For students who receive stipends, they will most likely teach an undergraduate course at the Carlos Alvarez College of Business during their program.

What are the research requirements of the PhD program?

The PhD program requires students to research while they complete formal coursework and during the summers. As research assistants, students work with faculty members in joint research activities and pursue their research objectives under the supervision of faculty members. The goal is to create papers to present at academic meetings and submit to research publications by the time the student is ready to begin their dissertation research. To be competitive in the academic job market, students should prioritize producing papers and publications while in the program.

As a PhD student, who will advise me?

Your program admission will identify an initial PhD advisor. However, as your interests and research agenda develop toward preparing a dissertation proposal, a different faculty member may emerge as the appropriate advisor for your dissertation research. Your initial advisor will help you assemble a program committee of faculty, who will advise you regarding your dissertation.

Can you waive my application fee?

You may request an application waiver if

• You are a McNair Scholar
• Active-duty military or a veteran of the US Armed Forces
• If you are an applicant who has attended a PhD Project Conference

Please complete the  Request to Waive Doctoral Application Fee  if you meet one or more of the above criteria.

Approved applicants will receive a single-use coupon code to enter into the payment field of the online application.

Can you waive the GMAT/GRE test score requirement?

We do not offer waivers for standardized test scores.

Is there a waiver for the TOEFL/IELTS exam requirement?

TOEFL scores may be waived for international students from countries where English is the official language or for non-citizens of the United States who have earned a regionally accredited bachelor’s degree or higher in the United States (or other countries where English is the official language) as indicated in the Graduate Catalog ( https://catalog.utsa.edu/policies/admission/graduate/internationalgraduatestudents/ ).

Graduate Advisor of Record

Onur Bayar, PhD

210-458-6837

Next MBA application deadline, May 1. You belong here.

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Finance ph.d., earn a ph.d. in business and a major concentration in finance and learn from and work with top faculty members.

The Ph.D. in Business and a Major Concentration in Finance at Rice University prepares doctoral graduates to be superior classroom instructors and research scholars in financial economics upon graduation.

Our emphasis on research productivity, collaboration and collegiality is reflected in the students’ high completion rate in the program and the faculty’s commitment to the success of their students.

Deeply invested in the path their students take, the finance faculty believe in an open-door policy and collegial atmosphere during the program and after graduation. The essence of the finance doctoral program is the opportunity to learn from and work with top quality faculty members on a broad range of topics in modern finance. 

Interested in Rice Business?

Discussing and debating my ideas with professors at Rice Business honed the ideas into specific and testable questions. When time is a person's most precious commodity and people who give it to you believe strongly in what you are doing, you know you're in the right place. Lizzy Berger, Ph.D. in Finance '16 Assistant Professor of Finance, Johnson Graduate School of Management, Cornell University

Program Information

Rice Business offers an outstanding program for doctoral students interested in finance.

Full financial assistance will be offered to each admitted student in the Ph.D. in Finance program in the form of a research assistantship, where the student must work as a research assistant for assigned faculty members. The financial assistance is merit-based and is contingent on continued satisfactory progress (which includes prior satisfactory performance as a research assistant).

Tuition Grants

Full tuition support is available for each year of full-time study, conditional on satisfactory progress in the doctoral program.

Admitted students will be offered stipend support of $40,000 per fiscal year*. This stipend is available for each year of full-time study, conditional on satisfactory progress in the doctoral program.

Research and Academic Support

Each student will be provided with a workspace, a personal computer with office software**, including all necessary (as determined by area faculty) statistical packages and access to the Rice University network, library access, online academic journals access and e-mail. Each student will also have available $1,000 per year for miscellaneous research and academic expenses such as text books required for classes, computer upgrades, conference travel etc. Students may roll over unused monies from one year to the next.

*A condition for such stipend support is that the student must not engage in outside work for pay without prior permission from the Ph.D. program director. An incoming student bringing outside financial support in the form of a merit-based or fellowship will still be eligible to receive the stipend in full in addition to such outside support. If a student in the third year or beyond generates such outside support, the Rice Business stipend will be decreased by 50 percent of the outside support.       

**The computer will be refreshed after successful defense of the dissertation proposal. Instead, students completing their third year of study may be eligible for a computer refresh if needed and with the recommendation of their advisor.

Most coursework is completed in the first three years of the Ph.D. program. Students are expected to be in residence throughout the calendar year. Exceptions to this requirement must be approved by the student's dissertation chairperson, area advisor, and the director of the Ph.D. program.

All Ph.D. students are required to complete a doctoral dissertation and must maintain at least a 3.0 (B) grade point average. Students must defend their dissertation research proposal within a maximum of five years from the time of matriculation and defend their dissertation within a maximum of seven years from the time of matriculation.

Academic Timeline

Your coursework over the first two years, which should cover a minimum of nine courses, will be determined by you in consultation with the finance area faculty advisor.

You must defend your dissertation research proposal within a maximum of five years from the time of matriculation and defend your dissertation within a maximum of seven years from the time of matriculation.

These times represent generous upper limits. Students will be expected to complete their doctoral studies well within these stipulated deadlines.

Requirements

Course, Research Work and Dissertation Advisor

• The student’s course work must be approved by the area faculty advisor.
• The student is expected to attend all research seminars organized in the finance area during the student’s tenure in the Ph.D. program. Moreover, during each semester of the second and third years, the student must write a short summary and critical comments on two papers presented in the research seminar during the semester. These reviews are to be submitted to the area advisor and will be graded by a subset of area faculty for a Pass/Fail grade.
• Students are expected to be fully engaged in research during all the summers, including the summer of their first year, of their tenure in the Ph.D. program.
• Students must have a Rice Business finance faculty member who has agreed to serve as their dissertation advisor by January 1 of their third year in the program.

Exam Requirements

• Students must successfully pass a comprehensive exam administered by the finance faculty at the end of the fall semester of the second year. The exam will be administered and graded by finance faculty, under the supervision of the finance area advisor.  

Third-Year Research Paper Each student must write and present a sole-authored original research paper during their third year in the program. The paper must be presented by October 15 of the student's third year in the program. The specific procedures are as follows:

• By March 1 of the student’s second year in the program, two Rice Business faculty members must agree to serve as readers of the paper.
• A student must submit a detailed outline of the paper and a copy of the  Third-Year Paper Outline Approval Form , signed by the two faculty readers, to the finance area advisor by June 1 following the student's second year in the program. The outline for an empirical paper should include: (1) the research hypothesis, 2) motivation for the research hypothesis, (3) description of the data, (4) description of the empirical tests, and (5) the expected contribution to the literature. The outline for an analytical paper should include: (1) the basic phenomenon under study, (2) the economic setting, (3) the modeling approach, (4) the fundamental assumptions, and (5) the expected contribution to the literature. The outline should also include references to the related literature investigating the research topic and to any studies underpinning the analytical methods to be used.
• A student must submit a copy of the completed third-year paper to the finance faculty advisor and to the two faculty readers by September 15 of the student's third year in the program.
• A student must present the third-year paper at a research workshop at a date chosen by the faculty during the first half of October of the student's third year in the program and at least one of the faculty readers must be present and sign the  Third-Year Paper Presentation Form , stating that the presentation is acceptable.

Failure to complete the Third-Year Paper requirement, as outlined above, will mean that the student is not making satisfactory academic progress in the Ph.D. Program and is grounds for dismissal from the doctoral program.

Sample Course Sequence

The course curriculum is designed around a challenging course of study in both the theory of financial economics and in cutting edge empirical work. Here is a sample course sequence for a doctoral student in finance. BUSI 524, 525, 526, and 527 are half-semester courses on special topics in finance taught biennially. Students should consult the finance area advisor regarding whether to substitute a more advanced math course for Math 321 in the fall of the first year.

Year 1 - Summer (May 23 - August 15) Math Camp and Stat Camp

Year 1 - Fall ECON 501 - Microeconomic Theory I ECON 502 - Macroeconomics I MATH  321 Introduction to Analysis I ECON 510 - Econometrics I   Year 1 - Spring ECON 508 - Microeconomic Theory II ECON 511 Econometrics II BUSI 521 Asset Pricing Theory    Year 2 - Fall BUSI 524 or BUSI 525 BUSI 523 - Empirical Methods in Finance BUSI 522 - Corporate Finance   Year 2 - Spring BUSI 526 or BUSI 527

Year 3 - Fall BUSI 524 or BUSI 525 

Year 3 - Spring BUSI 526 or BUSI 527   Course Descriptions BUSI 521: Asset Pricing Theory This course is an introduction to portfolio choice and asset pricing theory. Topics include expected utility maximization, stochastic discount factors, arbitrage, mean-variance analysis, representative investors, and beta-pricing models. Single-period and dynamic models are studied.

BUSI 522: Corporate Finance The purpose of this course is to provide a background for understanding the major research directions in corporate finance. Topics include theory of the firm, capital structure, external financing decisions, payout policy, agency problems, corporate control and governance, investment decisions, and the role of financial institutions in corporate transactions.

BUSI 523: Empirical Methods in Finance This course is an introduction to empirical research in finance, covering the techniques most often used in the analysis and testing of financial economic theory. The course covers both time-series and cross section methods. Topics include event studies, empirical tests of asset pricing models, forecasting relationships, return predictability in the time-series and cross-section, asset pricing anomalies, and specification and identification issues in corporate finance.

BUSI 524, 525, 526, 527: Advanced Topics in Finance These are half-semester courses covering various topics in financial economics.

Certification of Candidacy indicates that a student has reached the advanced stage of the Ph.D. Program, permitting him/her to devote full time to writing a dissertation. At least eight months must elapse between admission to candidacy and conferral of the degree. The requirements for candidacy are:

• Successful completion of the course work requirements.
• Successful completion of the examination requirements.
• Seyed Mohammad Kazempour, Assistant Professor, Louisiana State University
• Billy Xu, Assistant Professor, University of Rochester
• Lawrence Zhao, Assistant Professor, Texas Tech University
• Yessenia Tellez , Assistant Professor, Virginia Tech
• Livia Yi , Assistant Professor, Boston College
• Emmanuel Yimfor , Assistant Professor, Ross School of Business, University of Michigan
• Michael Dong , Assistant Professor, College of Business, California State University Long Beach
• Justin Balthrop , Assistant Professor, School of Business, University of Kansas
• Jonathan Bitting , Assistant Professor, Walker College of Business, Appalachian State University
• Ron Ruomeng Liu , Assistant Professor, College of Business, University of Nebraska
• Alberto Teguia , Assistant Professor, Sauder School of Business, University of British Columbia
• Erik Mayer , Assistant Professor, Cox School of Business, Southern Methodist University
• Ioannis Spyridopoulos , Assistant Professor, Kogod School of Business, American University
• Lizzy Berger , Assistant Professor, Johnson College of Business, Cornell University
• Morad Zeknini , Assistant Professor, Freeman School of Business, Tulane University
• Edwin Hu, Financial Economist, Office of Markets, Securities and Exchange Commission

Every year, we have a diverse group of applicants for the finance Ph.D. program. Successful applicants have been music majors, engineers, newly graduated undergraduates, MBAs, Ph.D.s in other fields, economists, finance majors, computer scientists, and financial professionals. Although applicants who have strong backgrounds in mathematics, economics, and statistics and demonstrate proficiency in spoken and written English are among the most competitive in our applicant pool, we give all applicants due consideration.

Successful candidates for admission typically have had GMAT scores between 710 and 760. Roughly half of admitted candidates take the GRE instead of the GMAT and have comparable scores. In the spring, we arrange for finalists come to campus to see the school and meet the faculty.

The business school accepts students for full-time study beginning in the fall semester each year.

International applicants whose native language is not English need to submit a TOEFL score. If you applied to Rice Business previously, we ask that you submit the complete application package again regardless of the previous decision. You will be required to use a new e-mail address to start a new application.

An applicant must declare finance as their intended area of study while applying to the Ph.D. in Finance program. Selected candidates will be notified of admission decisions via e-mail no later than April 15. Candidates who submitted an application to the doctoral program and were not offered admission may re-apply for a later year.

Unlike MBA program applicants, Ph.D. program applicants are not required to have work experience. While experience is certainly helpful, evidence of strong intellectual ability is the most important factor.

Online Application: Using the online application , you will create a user account for the creation, submission and status of your application, including receipt of your supplemental documentation.

Application Requirements:  To be considered for admission, the following documents must be received no later than the posted application deadline: 

• Completed online Ph.D. application including a Statement of Purpose and CV/Résumé.
• Three confidential recommendations (academic strongly preferred). Recommendations should be submitted using the online application recommendation feature. After entering your recommender’s contact information into your application, the application system will immediately send an electronic "Recommendation" form to that individual.
• For reviewing purposes, electronic copies of transcript(s) can be uploaded through the online application system to meet the application requirements. (If you are offered admission to Rice, official paper or electronic transcript(s) will be required and should be sent directly to the Rice Jones Graduate School of Business by the issuing institution. Official transcript(s) are required from all undergraduate and graduate schools you have attended.)
• Your official Graduate Management Admission Test (GMAT) score report, or GRE test score report submitted directly to us (test taker copy not acceptable). This requirement will not be waived.
• To send your official GMAT score report, log on to  http://www.mba.com/mba/ , click “The GMAT” then “GMAT Scores and Score Reports”. The “Rice University Jesse H. Jones Graduate School of Business – PhD Program” code is 3WS-WD-54.
• To send your official GRE score report, log on to  http://www.ets.org , under “Tests” click “GRE”. Under “Test Takers” click “Order Additional Score Reports”. The “Rice U Mgmt PhD Program” code is 6618.

If you did not earn your undergraduate degree in the U.S., English-speaking Canada, Australia, New Zealand, or the United Kingdom, an official score report of your TOEFL (Test of English as a Foreign Language) taken within 2 years of your application date is required (test-taker copy not acceptable). This requirement is waived for international applicants who have received a Master's degree or a Doctorate from an institution within the U.S., English-speaking Canada, Australia, New Zealand, or the United Kingdom by the application deadline.

• To send your official TOEFL score report, log on to  http://www.ets.org , under “Tests” click “TOEFL” and then “Test Scores.” The “Rice University-Management PhD Program” code is 6618. 

A non-refundable application fee of $40 payable via credit card or check. Please make checks payable to Rice University. Applications will not be processed without the required application fee.

Please note that applicants may not apply for, or be considered for, more than one program at a time within the Jones Graduate School.

Minimum GMAT/GRE Score Requirements: While our program is highly competitive, we do not have a minimum GMAT/GRE score requirement.

Supplemental Application Materials:  While most of your application materials will be submitted electronically via our online application, materials that must be mailed should be addressed to:

Melinda Pena Ph.D. Admissions / MS 531  Jones Graduate School of Business  Rice University 6100 Main Street  Houston, TX 77005  

Finance Area Advisor

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Melinda Peña

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Ph.D. Program in Finance

The Ph.D. Program in Finance at the C. T. Bauer College of Business is designed to provide students with the necessary analytical skills to carry out high quality teaching and research in Finance. The program of study leading to the degree of Ph.D. in Finance is designed with these objectives in mind.

Ph.D. students come to the Department of Finance with widely different academic backgrounds. Of the approximately 16 doctoral students in our program, more than half already have a master’s degree. Previous graduate study may include any field; currently represented are business, computer science, economics, engineering, international relations, mathematics, physics, and the natural sciences. Undergraduate majors include a wide array of disciplines. Because training in mathematics and statistics is necessary for all course work, students are required to take an intensive 2-week course in these areas starting in early August, before regular first-year classes begin.

During the first two years in the program, students take courses in finance and in related areas such as economics and statistics. At the end of the first year, students are required to take a comprehensive exam to evaluate their progress and finance knowledge. In addition, students are required to conduct a research project in the summer of their first year and to write a research paper during their second year. This paper, written under the guidance of a faculty advisor, is presented at a workshop early in the Fall semester of the third year. During the third year, students make the transition from course work to full-time dissertation research. A dissertation proposal is held late in the third year or early in the fourth year, and the dissertation is completed during the fourth or fifth year.

The Department of Finance holds seminars throughout the year for the presentation and discussion of current research in finance. Speakers include well-known faculty from top finance and economics departments, along with doctoral students from the University of Houston. These seminars give students at all stages of the program a wonderful exposure to top research and ideas in finance.

Most graduates choose an academic career, but some choose to work in the private sector, working in the consulting, the investments and the oil and gas industries.

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Admission Procedures

• Director's Message

Student Publications

Program overview.

The PhD in Management Science with a concentration in Finance degree is designed for students seeking training in the most advanced issues, both theoretical and applied, in the field of managerial finance and analysis.

Applicants should have at least a bachelor’s degree. Admission is based on grade point average, graduate examination test score (GMAT* or GRE), letters of reference (at least three, with two from academic references), business and professional experience (if applicable), a written statement of personal objectives and compatibility with faculty research activities. Since the school of Management starts making first-round admission decisions on December 9, it is best to complete the entire application process no later than December 8. While applications will be accepted after that date, applying after December 8 may significantly lower your chance of acceptance.

* UT Dallas Naveen Jindal School of Management prefers the GMAT admission test, however, we gladly accept the GRE test as well.

Connect with the Director

Steven Xiao, PhD

Phd area coordinator, finance.

[email protected] | (972) 883-5056 | JSOM 14.504

Our PhD program is designed to produce well-trained researchers. Students take classes that equip them with the latest research tools and expose them to cutting edge research. They have access to a large pool of accomplished faculty who are actively engaged in research on corporate finance, asset pricing and financial intermediation.

Degree Requirements

Students must complete at least 75 semester credit hours of approved graduate work before a degree may be conferred. Credit may be granted for courses taken elsewhere.

Doctoral students in Management Science benefit from an exposure to multiple functional areas in management. To ensure this benefit, students who enter the program without an MBA (or equivalent degree) are required to complete a combined minimum of four courses (at the master’s or doctoral level) in at least three functional areas. This cross-functional exposure is particularly useful for students engaging in cross-functional research, in positioning their research for wider appeal, and for effectively teaching business school students with diverse specializations.

• FIN 6370 Theory of Finance and its Applications
• FIN 6381 Introductory Mathematical Finance.

The Management Science PhD core curriculum consists of a minimum of 9 courses.

Please visit the Management Science Degree Plan page for core and secondary core course requirements.

• Finance Theory Core ( FIN 7330 Asset Pricing Theory and FIN 7340 Theory of Corporate Finance)
• Finance Empirical Core ( FIN 7310 Seminar in Contemporary Finance, FIN 7335 Empirical Asset Pricing and FIN 7345 Empirical Corporate Finance)
• Electives may be from accounting, computer science, economics, finance, mathematics, statistics or other fields. Specific courses must be approved by the Finance PhD advisor.

Students in the program are expected to write research papers each year. Typically, they devote each summer entirely to research. Each fall, they present their research to faculty and their fellow students. Students are encouraged to both collaborate with faculty on research projects as well as develop research independently of faculty.

PhD in Finance students take a written preliminary exam at the end of their first year in the program over a set of core courses (ECON 6309 Econometrics I, MECO 6345 Advanced Managerial Economics). At the end of their fourth semester in the program, students take a written qualifying exam over research core and finance theory core courses, which they must pass before admission for candidacy for the doctorate degree.

The dissertation is written under the supervision of the dissertation committee. The student must identify a committee and a chairperson within one semester following successful completion of the written qualifying examination. Students must present and pass their dissertation proposal before they can proceed to their final oral defense. Twelve to 24 semester hours may be granted for the dissertation toward the minimum 75-hour requirement for the degree.

The PhD program in Finance at Naveen Jindal School of Management, UT Dallas, has a strong record of placing PhD graduates at top universities and corporations.

Below are examples of student publications in 24 leading business journals .

Jie (Jack) He, Lantian Liang , Grace Hui Wang , and Han Xia (2023). Networking Behind the Scenes: Institutional Cross-Industry Holdings and Information Frictions in Corporate Loans. Management Science. Forthcoming.

Umit G Gurun, Jiabin Wu, Steven Chong Xiao, and Serena Wenjing Xiao , 2023. “Do Wall Street Landlords Undermine Renters’ Welfare?”, The Review of Financial Studies , 36(1), pp.70-121.

Jess Cornaggia , Kimberly J Cornaggia, and Ryan Israelsen, Rating Agency Fees: Pay to Play in Public Finance?, The Review of Financial Studies , Volume 36, Issue 5, May 2023, Pages 2004–2045

Fred Bereskin, Seong K. Byun , and Jong-Min Oh . “Technological Fit and the Market for Managerial Talent.” Journal of Financial and Quantitative Analysis 58.2 (2023): 837-874.

Walter Pohl , Karl Schmedders, and Ole Wilms, 2021. “Asset pricing with heterogeneous agents and long-run risk.” Journal of Financial Economics , Vol. 140

Itzhak Ben-David, Francesco Franzoni, Rabih Moussawi , and John Sedunov, 2021, “The Granular Nature of Large Institutional Investors.”, Management Science , vol. 67

Seong K. Byun, Jong-Min Oh , Han Xia, 2021. “Incremental vs. Breakthrough Innovation: The Role of Technology Spillovers.” Management Science , vol. 67.

Jess Cornaggia , Kimberly J. Cornaggia, Ryan Israelsen, 2020. “Where the heart is: information production and the home bias.” Management Science , vol. 66.

Jay Yin Li , Jess Cornaggia , 2019. “The value access to finance: evidence from m&as.” Journal of Financial Economics , vol. 131.

Itzhak Ben-David, Francesco Franzoni, and Rabih Moussawi , 2018. “Do ETFs Increase Volatility.?” Journal of Finance , vol. 73

Ole Wilms, Walt Pohl , Karl Schmedders, 2018. “Higher order effects in asset pricing models with long-run risks.” Journal of Finance , vol. 73.

Ryan Isrealsen, Jess Cornaggia , Kimberly Cornaggia, 2018. “Credit ratings and the cost of municipal financing.” The Review of Financial Studies , vol. 31.

Fabian Ackerman, Karl Schmedders, Walt Pohl , 2017. “Optimal and naïve diversification in currency markets.” Management Science , vol. 63.

Jess Cornaggia , Alexander Butler, Umit Gurun, 2017. “Do local capital market conditions affect consumers’ borrowing decisions?” Management Science , vol. 63.

Valentina Bruno, Jess Cornaggia , Kimberly J. Cornaggia, 2016. “Does Regulatory Certification Affect the Information Content of Credit Ratings?” Management Science, Vol. 62.

Jess Cornaggia , Kimberly J. Cornaggia, Han Xia, 2016. “Revolving doors on Wall Street,” Journal of Financial Economics , Vol. 120.

Jay Yin Li , Dragon Yongjun Tang , 2016. “The leverage externalities of credit default swaps”. Journal of Financial Economics , Vol. 120.

Jess Cornaggia , Yifei Mao, Xuan Tian, Brian Wolfe, 2015. “Does banking competition affect innovation?” Journal of Financial Economics, Vol. 115.

Nina Baranchuk, Robert Kieschnick, Rabih Moussawi , 2014. “Motivating innovation in newly public firms,” Journal of Financial Economics , Vol. 111.

Itzhak Ben-David, Francesco Franzoni, Augustin Landier, Rabih Moussawi, 2013. “Do hedge funds manipulate stock prices?” Journal of Finance, Vol. 68.

Jess Cornaggia, 2013. “Does risk management matter? Evidence from the U.S. agricultural industry,” Journal of Financial Economics, Vol. 109.

Jess Cornaggia and Kimberly Cornaggia, 2013. “Estimating the costs of issuer-paid credit ratings,” The Review of Financial Studies, Vol. 26.

Zhonglan Dai, Douglas Shackelford, Harold Zhang, Chongyang Chen, 2013. “Does financial constraint affect the relation between shareholder taxes and the cost of equity capital?” The Accounting Review, Vol. 88.

Itzhak Ben-David, Francessco Franzoni, Rabih Moussawi, 2012. “Hedge fund stock trading in the financial crisis of 2007-2009,” The Review of Financial Studies, Vol. 25.

Theodore Day, George Li, Yexiao Xu, 2011. “Dividend distributions and closed-end fund discounts,” Journal of Financial Economics, Vol. 100.

Alexander Butler and Jess Cornaggia, 2011. “Does access to external finance improve productivity? evidence from a natural experiment,” Journal of Financial Economics, Vol. 99.

Aleandar Butler, Jess Cornaggia, Gustavo Grullon, James Weston, 2011. “Corporate financing decisions, managerial market timing, and real investment,” Journal of Financial Economics, Vol. 101.

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Finance Graduate Programs in Texas

1-17 of 17 results

McCombs School of Business

Austin, TX •

University of Texas - Austin •

Graduate School

• • Rating 4.67 out of 5   12 reviews

Master's Student: Being in the accounting program at UT Austin has been a remarkable opportunity for me. The best part of being an accounting major at McCombs is the diverse set of classes that students can utilize to explore different interests within business and broaden their career opportunities. The worst part of being at McCombs is the competitive environment, although it incentivizes students to work harder, it can be mentally draining to constantly try to outperform one's peers. ... Read 12 reviews

University of Texas - Austin ,

Graduate School ,

AUSTIN, TX ,

12 Niche users give it an average review of 4.7 stars.

Featured Review: Master's Student says Being in the accounting program at UT Austin has been a remarkable opportunity for me. The best part of being an accounting major at McCombs is the diverse set of classes that students can utilize to... .

Read 12 reviews.

Cox School of Business

Dallas, TX •

Southern Methodist University •

• • Rating 4.43 out of 5   14 reviews

Master's Student: While acting as a Divisional CISO at Bank of America, I had colleagues and mentors that recommended that I attend a graduate college. With my near decade of supporting military operations with the Department of Defense and my nearly 10 years of financial experience I felt that a MBA would be the logical next step. When searching for programs at SMU I met with the admissions staff who helped me find that the Executive MBA would be the best program for me and provide me with all of the knowledge, skill sets and experience to succeed in my future business endeavors. ... Read 14 reviews

Southern Methodist University ,

DALLAS, TX ,

14 Niche users give it an average review of 4.4 stars.

Featured Review: Master's Student says While acting as a Divisional CISO at Bank of America, I had colleagues and mentors that recommended that I attend a graduate college. With my near decade of supporting military operations with the... .

Read 14 reviews.

Mays Business School

College Station, TX •

Texas A&M University •

• • Rating 2 out of 5   3 reviews

Graduate Student: Im starting in the summer and my experience has been great. I will be entering as an MD/MBA student starting with the MBA. ... Read 3 reviews

Texas A&M University ,

COLLEGE STATION, TX ,

3 Niche users give it an average review of 2 stars.

Featured Review: Graduate Student says Im starting in the summer and my experience has been great. I will be entering as an MD/MBA student starting with the MBA. .

Read 3 reviews.

Houston Christian University School of Nursing and Allied Health

Houston Christian University •

Graduate School •

HOUSTON, TX

Kogod School of Business

American University •

WASHINGTON, DC

• • Rating 4.56 out of 5   9

Florida International University

• • Rating 4.63 out of 5   287

Naveen Jindal School of Management

Richardson, TX •

University of Texas - Dallas •

• • Rating 4.86 out of 5   7 reviews

Master's Student: I recently completed my IT program at the University of Texas at Dallas, and I must say it has been an incredibly enriching academic experience. From the moment I stepped onto campus, I felt welcomed and supported, which set the tone for the rest of my journey. The curriculum is thoughtfully designed to cover a wide range of topics in information technology, ensuring that students receive a well-rounded education. The professors are experts in their respective fields and are passionate about what they teach. They not only provide valuable insights but also make themselves readily available for one-on-one assistance and mentorship. One of the best parts of my academic experience at UTD has been the abundance of resources available to students. UTD has a strong network of alumni who are actively involved in the program, offering valuable connections and internship opportunities. ... Read 7 reviews

University of Texas - Dallas ,

RICHARDSON, TX ,

7 Niche users give it an average review of 4.9 stars.

Featured Review: Master's Student says I recently completed my IT program at the University of Texas at Dallas, and I must say it has been an incredibly enriching academic experience. From the moment I stepped onto campus, I felt welcomed... The curriculum is thoughtfully designed to cover a wide range of topics in information technology, ensuring that students receive a well-rounded education. The professors are experts in their... One of the best parts of my academic experience at UTD has been the abundance of resources available to students. UTD has a strong network of alumni who are actively involved in the program, offering... .

Read 7 reviews.

Jerry S. Rawls College of Business Administration

Lubbock, TX •

Texas Tech University •

• • Rating 5 out of 5   2 reviews

Master's Student: The masters program is layed out so when you graduate you are ready for the cpa exam and to work in accounting. ... Read 2 reviews

Texas Tech University ,

LUBBOCK, TX ,

2 Niche users give it an average review of 5 stars.

Featured Review: Master's Student says The masters program is layed out so when you graduate you are ready for the cpa exam and to work in accounting. .

Read 2 reviews.

LeTourneau University School of Business

Longview, TX •

LeTourneau University •

LeTourneau University ,

LONGVIEW, TX ,

• Find college scholarships

C. T. Bauer College of Business

Houston, TX •

University of Houston •

• • Rating 3.71 out of 5   7 reviews

Master's Student: I love my experience at UH so far. It has a nice campus downtown with a lot of changes coming. Also have a good amount of amenities you can take advantage of and great places to eat. ... Read 7 reviews

University of Houston ,

HOUSTON, TX ,

7 Niche users give it an average review of 3.7 stars.

Featured Review: Master's Student says I love my experience at UH so far. It has a nice campus downtown with a lot of changes coming. Also have a good amount of amenities you can take advantage of and great places to eat. .

Satish & Yasmin Gupta College of Business

Irving, TX •

University of Dallas •

• • Rating 5 out of 5   5 reviews

Doctoral Student: This is the most challenging experience of my life, but the hybrid set-up for this degree program is THE BEST. As a student who has done on-line only programs throughout my scholastic career, this program makes sense. You need the on-campus time to assure your working knowledge of the information you're reviewing and to keep the pulse of your cohort so that they know they're not alone in this journey. The education received is top notch. ... Read 5 reviews

University of Dallas ,

IRVING, TX ,

5 Niche users give it an average review of 5 stars.

Featured Review: Doctoral Student says This is the most challenging experience of my life, but the hybrid set-up for this degree program is THE BEST. As a student who has done on-line only programs throughout my scholastic career, this... .

Read 5 reviews.

G. Brint Ryan College of Business

Denton, TX •

University of North Texas •

• • Rating 5 out of 5   3 reviews

Master's Student: The University of North Texas offers a flexible and manageable experience for students like me. I'm able to take classes part-time while working full-time. Especially since the classes I'm taking are online, they are accessible to me without having to commute to a brick-and-mortar setting. The MBA program is also excellent for students like me who did not have an undergraduate degree related to business, accounting, finance, or other related majors. ... Read 3 reviews

Blue checkmark.

University of North Texas ,

DENTON, TX ,

3 Niche users give it an average review of 5 stars.

Featured Review: Master's Student says The University of North Texas offers a flexible and manageable experience for students like me. I'm able to take classes part-time while working full-time. Especially since the classes I'm taking are... .

Cameron School of Business - University of St. Thomas - Texas

University of St. Thomas - Texas •

University of St. Thomas - Texas ,

Paul and Virginia Engler College of Business

Canyon, TX •

West Texas A&M University •

West Texas A&M University ,

CANYON, TX ,

College of Business - Texas A&M University - Commerce

Commerce, TX •

Texas A&M University - Commerce •

Master's Student: Excellent online program for an online Masters of Business Administration. All Professors were helpful and material was relevant. I was able to do it all while still working a full time job and being a mom to 2 elementary aged kids. I truly felt like the material prepared me for the real world. The program is also not very expensive. I was able to get promoted shortly after receiving my Masters of Business Administration. ... Read 2 reviews

Texas A&M University - Commerce ,

COMMERCE, TX ,

Featured Review: Master's Student says Excellent online program for an online Masters of Business Administration. All Professors were helpful and material was relevant. I was able to do it all while still working a full time job and being... .

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College of Business - University of Texas - San Antonio

San Antonio, TX •

University of Texas - San Antonio •

• • Rating 5 out of 5   1 review

Master's Student: I first attended UTSA in 2007 and graduated with my bachelors in 2009. My education opened up opportunities for me in the healthcare field. While at UTSA I felt the environment was conducive to learning and there were resources available to me to help me succeed. I've worked my way through school as an undergraduate and will do so as a graduate student. UTSA has classes available to fit my schedule and it is affordable. I hope attending graduate school will open up new opportunities for me and help me to fulfil my dreams of becoming a hospital executive. ... Read 1 review

University of Texas - San Antonio ,

SAN ANTONIO, TX ,

1 Niche users give it an average review of 5 stars.

Featured Review: Master's Student says I first attended UTSA in 2007 and graduated with my bachelors in 2009. My education opened up opportunities for me in the healthcare field. While at UTSA I felt the environment was conducive to... .

Read 1 reviews.

School of Business and Leadership - Our Lady of the Lake University

Our Lady of the Lake University •

Our Lady of the Lake University ,

College of Business - University of Houston - Clear Lake

University of Houston - Clear Lake •

• • Rating 4 out of 5   2 reviews

Current Master's student: I'm in the Master of Science in Finance program. One thing that is unique is that most of the courses for the degree are 8-weeks long, instead of the typical 15-16 week course. There are pros and cons to this. Pro is that you can finish quite fast if you want, but the 8-week course length can be challenging and is easy to fall behind. The College of Business offers many opportunities to network and get experience in your desired career field. ... Read 2 reviews

University of Houston - Clear Lake ,

2 Niche users give it an average review of 4 stars.

Featured Review: Current Master's student says I'm in the Master of Science in Finance program. One thing that is unique is that most of the courses for the degree are 8-weeks long, instead of the typical 15-16 week course. There are pros and... .

University of Phoenix - Texas

• • Rating 4.13 out of 5   8 reviews

Alum: Phoenix was an interesting school, the professors, although virtual really made themselves available to you when you need it. I enjoyed my classmates and the group assignments designed to mimic the working environment. I learned alot about international, problem solving and creative thinking. ... Read 8 reviews

8 Niche users give it an average review of 4.1 stars.

Featured Review: Alum says Phoenix was an interesting school, the professors, although virtual really made themselves available to you when you need it. I enjoyed my classmates and the group assignments designed to mimic the... .

Read 8 reviews.

College of Business - University of Texas - Permian Basin

Odessa, TX •

University of Texas - Permian Basin •

• • Rating 2.8 out of 5   5 reviews

Master's Student: I have enjoyed my experience at the university. The staff is knowledgeable and helpful, going out of their way to ensure students are achieving their goals. ... Read 5 reviews

University of Texas - Permian Basin ,

ODESSA, TX ,

5 Niche users give it an average review of 2.8 stars.

Featured Review: Master's Student says I have enjoyed my experience at the university. The staff is knowledgeable and helpful, going out of their way to ensure students are achieving their goals. .

Mississippi College

CLINTON, MS

• • Rating 4.37 out of 5   35

Mississippi State University

MISSISSIPPI STATE, MS

• • Rating 4.51 out of 5   49

Jack Welch College of Business and Technology

Sacred Heart University •

FAIRFIELD, CT

• • Rating 5 out of 5   2

Showing results 1 through 17 of 17

FINANCE DEGREE PROGRAMS

Your career starts today.

We have tailored the finance program at Texas McCombs to match your unique path in the professional world. Take charge now, and we will ensure you have the skills to excel.

BBA FINANCE: SO MANY CHOICES

Who said making up your mind should be easy? BBA finance students start with one required course (FIN 357), followed by a mind-boggling array of options to fit their personal goals. Choose a general finance major, or focus on one of six tracks: corporate finance and investments, banking, energy finance, investment management, financial markets/banking, or real estate finance.

Texas BBA>

Wealth Management Minor>

Finance BBA Advisor>

MBA FINANCE: RACETRACK-READY MBA

Grab the wheel of an MBA fueled by the academic equivalent of nitro. Our program starts hot, with two required finance courses in the MBA core, BA 380S, and BA 385T. If you love the thrill, you can concentrate in finance with electives in corporate finance, investments, financial institutions and markets, energy finance, real estate finance, private equity, and venture capital.

This program strives to prepare students for financial positions with financial services industry, private equity firms, energy companies, commercial real estate firms, and non-financial corporations. This program builds on the existing faculty expertise in the Department of Finance and the McCombs School of Business. Students select a multidisciplinary set of courses in one of six Finance concentrations: General Finance, Corporate Finance, Investment Management, Energy Finance, Real Estate Finance, and Private Equity Finance.

MBA Program Office>

MS FINANCE: ONE-YEAR DEEP DIVE IN FINANCE

The Texas Master of Science in Finance (MSF) is for students with a four-year degree in any discipline and the analytical skills to thrive in finance. Earn a Master's degree in less than one year with support from MSF Career Services, providing career counseling, interview preparation, and a link to industry recruiters. 

Texas MSF Program>

DOCTORAL FINANCE: GENIUS MINDS OF FINANCE

The Ph.D. program in finance prepares students for academic and professional careers at prestigious schools and institutions focused on teaching and research. Specialize in one or more of the following areas: corporate finance, investments, financial intermediaries, international finance, and real estate.

Learn More>

PhD Contact Email>

LEARN FROM NATIONALLY PROMINENT SCHOLARS

Our faculty is ranked among the best globally as recognized by Financial Times and other ranking and grant organizations. They publish research and books and speak at top academic conferences such as the American Finance Association, European Finance Association, Western Finance Association, and the Financial Management Association.

College of Business

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• Alumni & Internships
• Request Information

Ph.D. Business Administration In Finance and Real Estate

Finance and real estate major field of study: overview.

The Department of Finance and Real Estate admits a cohort batch of doctoral students in finance in the fall semester of every year. The size of the batch depends on funding as well as the competitive pool of applicants. The students take predefined coursework in major and supporting fields for approximately two years followed by a written and oral comprehensive examination.

FINANCE AND REAL ESTATE FIELD COORDINATOR

Dr. david rakowski.

Finance & Real Estate

[email protected]

Phone #: 817-272-3840

Department of Finance & Real Estate: P.O. Box 19449, The University of Texas at Arlington, Arlington, TX 76019

• Admission Requirements
• Application Procedure

Application Deadlines

• English Proficiency Requirements

Ph.D. Program Admission Requirements

To be considered for admission, an applicant must submit:.

• The general Office of Graduate Studies online application .
• A resume that highlights professional and personal accomplishments, linguistic abilities, computer expertise and leadership experience.
• An official score on the Graduate Management Admission Test (GMAT) or Graduate Record Exam (GRE).
• Official transcripts from undergraduate and master's studies
• GMAT Institutional Code 90BFN70
• GRE Institutional Code 6013
• TOEFL Graduate School Institutional Code 6013

Criteria used to make admission decisions:

• There are no set minimum scores for GMAT or GRE required for admission.
• There are no cutoff scores on grade point averages required for admission.
• Quantitative measures are evaluated (GMAT or GRE score and grade point averages on undergraduate and master's level work as calculated by the Office of Graduate Studies).
• Interviews with prospective students are encouraged and given consideration in the decision process. Prospective students are encouraged to contact their track's major field coordinator to work through the admission process.
• The Ph.D. Graduate Studies Committee and the major field coordinator for the student's track in the Ph.D. program give consideration to these and other factors (educational objectives, letters of recommendation, etc.) in the entire applicant's file to arrive at a decision.

How the Admission Decision is Made:

• Applicants must be accepted for admission by the departmental Ph.D. committee headed by the Major Field Coordinator. The early application deadline is January 15 for the fall semester. However, late applications can be considered at the discretion of the Major Field Coordinator.
• An applicant may be unconditionally admitted when all factors for consideration indicate a very strong potential for academic success as a business doctoral student and faculty resources are available.
• When multiple factors indicate lack of potential or resources are constrained, admission will be denied.
• Probationary admission is not available for the doctoral program.

University and College Fellowship/Scholarship Awards

International applicants must achieve a TOEFL iBT of at least 79, with at least a 23 in spoken English if a Graduate Teaching Assistantship is desired. International applicants that score below minimum acceptable levels on the verbal portion of entrance examinations may be admitted under the condition that they pass an English proficiency exam or complete UT Arlington's Graduate English Skills Program prior to beginning graduate course work. For general admission, an official test score must be submitted as proof of English language ability. If an international applicant earned their undergraduate degree from a university in the United States, this requirement is waived.

Doctoral students who are unconditionally admitted, have a minimum undergraduate and graduate grade point average of 3.25 as calculated by the Office of Graduate Studies and enroll for a minimum of nine semester credit hours may be eligible for available fellowship and/or scholarship support. A standardized test score (GMAT or GRE) will not be used as the sole criterion for determining fellowship and/or scholarship eligibility.

Use the following checklist as you complete the application process.

I.  for office of graduate studies:.

The following REQUIRED items should be sent DIRECTLY to the Office of Graduate Studies by the application deadline:

II.  For Graduate Business Services:

Graduate Business Services UT Arlington Box 19376 Arlington, TX 76019-0376

Subsequent Steps:

If admitted to the Ph.D. program, the student will receive a letter from the College of Business instructing the student to contact the appropriate major field coordinator to discuss the chosen degree plan and semester registration.

A doctoral student orientation, "Ph.D. Boot Camp", is scheduled for incoming students the two weeks prior to the beginning of the fall semester. Students will be notified of the exact dates and requirements for this orientation. The Boot Camp will cover topics such as program specifics, teaching and research, professional ethics, and academic integrity. The Boot Camp will also give new students the opportunity to meet and interact with returning Ph.D. students and graduate faculty.

Fall Applicants:

January 15 is the early application deadline for Fall applicants. Applicants are encouraged to submit all materials no later than December to ensure that all items have been received and processed prior to January 15.

Spring Applicants:

Most fields of study do not accept Spring applicants. Information Systems may accept students for Spring enrollment. Early application deadline for Spring consideration is October 31.

Summer Applicants:

We do not accept students for a summer start in the program.

Additional Admission Information by Department:

• The Accounting Department will accept applications for new students for Fall 2024. The early application deadline is January 15, 2024.
• The Finance Department will accept applications for new students for Fall 2024.
• The Information Systems Department will accept applications for Fall 2024.
• The Management Department will accept applications for Fall 2024.
• The Management Sciences Department will accept applications for Fall 2024.
• The Marketing Department will accept applications for new students for Fall 2024.

Answers to Prospective Ph.D. Student - Frequently Asked Questions

What materials should be submitted as part of my application to the phd program.

• Official GMAT or GRE scores
• Official TOEFL scores (if an International student)
• Completed official application and application fee
• Official transcripts from all previous universities attended
• 3 letters of recommendation
• Statement of purpose

What is the early application deadline?

Most fields of study only accept students for a fall semester start. The early application deadline is January 15 of the year in which the applicant wishes to enter the program. It is suggested that all documents be submitted in advance of the deadline as it can take up to a month for the applicant's documents to be processed and their file to actually be received by the College of Business. Some major areas will consider applications after the deadline for self-funded students.

How do I submit letters of recommendation?

The Request Recommendation form may be used. It may be submitted electronically to the Ph.D. Programs Coordinator or via postal mail to:

Do any fields of study accept students for the spring semester?

Information Systems may do so. Please contact the field coordinator for the particular field to confirm before you apply.

Do you accept students to begin in the summer semester?

We do not accept students to begin the Ph.D. program in the summer.

When will a decision be made about my application?

Most decisions are made by April. You can contact the Major Field Coordinator for an update on your application status.

Who evaluates my application?

Applications are reviewed by a committee of professors from the applicant's chosen field of study.

Is the applicant required to take the GMAT (or GRE) before they can be accepted into the Ph.D. program?

Yes, a valid GMAT or GRE score for an exam within the past 5 years is required for admission to the Ph.D. program.

Is the applicant required to take the TOEFL exam to be accepted into the Ph.D. program?

If your native language is not English, you must demonstrate a level of skill with the English language to assure success in the Ph.D. program. An official TOEFL or IELTS score is required.

Is there any way to get an exception to taking the TOEFL exam?

The only exception is if the non-native speaking applicant has earned their undergraduate degree from an accredited U.S. college or university.

May an applicant receive a probationary admission decision without a GMAT (or GRE) score, and then take the GMAT after being admitted?

An applicant may not enter the Ph.D. program on a probationary or provisional admission without the GMAT or GRE.

I have (5, 10, 15) years of experience in the field. Do I still need to take the GMAT (or GRE)?

Yes, an official test score must be received before your application can be considered.

What is the approximate cost to get my Ph.D.?

Feel free to use the UTA Cost Estimator for an approximate cost.

What is the duration of the Ph.D. Program?

Four years is the anticipated full-time timeframe, to earn a Ph.D.

• Coursework - 2 years
• Comprehensive exams - 1 year
• Dissertation writing, Proposal and defense - 1 year

How do I change the semester I am enrolling?

Contact the Major Field Coordinator in your area to discuss this.

Where do I submit my application?

Is funding available.

Funding in the form of teaching assistantships (TAs) is limited and highly competitive. All teaching assistantships include a stipend. Some TAs allow in-state tuition rates, and others waive tuition. A few College of Business Scholarships are available.

What may have prevented me from getting admitted?

The Major Field Coordinator may be able to share information on this. However, common reasons for being denied admission include:

• Not meeting the application deadline
• Applying for a semester in which the major field is not accepting students
• Incomplete application
• Competitive qualifications of other applicants
• Combined academic record and test scores not acceptable

General Admission Criteria

Admission to the PhD Program is competitive and the attainment of a specific set of minimum qualifications does not assure admission. Admission is granted to candidates deemed to be most qualified to achieve success from within the applicant pool in a given application cycle. If no candidates are deemed sufficiently qualified to be successful in the PhD program in given pool of applicants, it is possible that no candidates will be admitted during the cycle. In general, all applicants must:

• Hold a baccalaureate degree from an accredited college or university with a satisfactory grade point average.
• Have completed a master’s degree or at least 30 semester credit hours of graduate level work with a satisfactory grade point average.
• Have an acceptable score on the Graduate Management Admission Test or the Graduate Record Exam.
• Applicants whose native language is not English must submit an acceptable TOEFL, TSE or IELTS score if he or she does not hold a bachelor’s degree from an accredited U.S. institution.
• Provide three letters of recommendation.
• Provide a statement of purpose indicating the application’s chief academic interests, strengths, and limitations, reasons for selecting their major field, and for choosing The University of Texas at Arlington.

English Proficiently

Assistantship

• TSE(Test Spoken English) > 45
• TOEFL IBT Spoken > 23
• IELTS Spoken > 7
• Spoken English Assessment (SEA) > 45
• (or) ELI(English Lang Inst) score = P
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• Graduate Business Services
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• Graduate International Students

Finance and Real Estate

Application Acceptance Policy

School of Financial Planning

• Human Sciences

Personal Financial Planning Ph.D.

Personal Financial Planning Doctoral Degree

Earn your ph.d. in personal financial planning from a national leader in financial education., study on-campus or online.

The Wall Street website MarketWatch calls Texas Tech University “the headquarters” of personal financial planning education, and for good reason. As the first U.S. university to offer a Ph.D. in Personal Financial Planning, we have a proven record of leadership in financial planning scholarship.

Establish Your Career Excellence in Our Financial Planning Ph.D. Program

Texas Tech's personal financial planning Ph.D. program enjoys a national reputation for excellence, so your work will draw serious attention from journal editors, conference programmers, and industry professionals.

Our financial planning doctoral program stands out for its:

• World-class faculty. You will work with leading authorities in personal financial planning. Texas Tech has the nation's largest personal financial planning faculty , with experts in a broad range of specialties.
• Outstanding career outcomes. Graduates from our personal financial planning program have earned tenure-track faculty placements throughout the U.S., including numerous departmental leadership positions. In addition, many graduates have used the Ph.D. as a springboard to non-academic careers in financial planning or entrepreneurship.
• Rigorous theoretical foundation. You will examine the most current research in personal financial planning, including specialized aspects such as the psychology of financial planning, behavioral finance, risk management, and household economics.
• Practical training in research and teaching. Our Ph.D. students get practical training and mentorship in teaching and research from the top researchers in the field and well-established practitioners. This guidance strengthens your curriculum vita and makes you the ideal candidate for faculty positions or industry careers. 

Read about what our current students are doing.

Careers in Personal Financial Planning

Graduates from our Personal Financial Planning Ph.D. degree program have a job placement rate of virtually 100 percent.

More than 30 alumni of our doctoral program currently hold personal financial planning faculty positions at universities throughout the United States. If you choose a non-academic career path, you will have excellent preparation for high-level employment at a wide range of financial institutions, including:

• Financial services firms
• Mutual fund companies
• Brokerage firms
• Insurance companies

Personal Financial Planning professional certification

Some students in our personal financial planning Ph.D. degree program have already passed the CFP® Certification Examination. If you have not already done so, our Ph.D. degree in personal financial planning will qualify you to take the exam.

For more information about the Ph.D. in Personal Financial Planning

Request information online, for more information contact:.

• Name: Dr. Stuart Heckman
• Phone: (806) 834-0979
• Email: [email protected]

Contact TTU

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Engage-menu, finance and managerial economics programs at ut dallas.

Master the specialized training and skills for your finance career.

Finance is a growing field with a need for specialized training and skills. In this fast-paced career, you need technical and decision-making skills to gather and evaluate information in a rapidly-changing business environment.

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Bachelor’s, master’s or phd in finance, bachelor’s degree program.

Build the skills to do rigorous analysis of financial information through various courses in managerial economics and financial analysis. These skills are in high demand across the corporate world and prized in government and not-for-profit sectors.

Master’s Degree Programs

Find the finance graduate degree that matches your interests. See a brief summary of each degree or click a program below for more information.

PhD Concentration in Finance

Develop strong research skills that are especially relevant for students interested in an academic career. Research seminars are held weekly, and each year the finance area sponsors a speaker series to bring researchers from other universities to UT Dallas.

Finance Area Master’s Degrees

All Finance Area master’s degrees are STEM-certified.

Master’s in Finance

The Master’s in Finance is offered for graduate students who have an interest in such areas as corporate finance, investment banking, financial analysis, private equity or real estate. Students can select alternatives designed to meet the educational requirements for the Chartered Financial Analyst (CFA®) or the CCIM designation.

Master’s in Finance Technology and Analytics

The Master’s in Finance Technology and Analytics (FTEC) is for graduate students who have an interest in financial technology (fintech) and financial data analytics.

Master’s in Energy Management

The Master’s in Energy Management is for graduate students who have an interest in such areas as energy economics and finance, operations across energy sectors and other energy issues. Students can prepare for the Energy Risk Professional (ERP) examinations.

Finance Area Faculty

The Finance and Managerial Economics faculty bring state-of-the-art knowledge to the classroom and are actively engaged in research. Currently, they are studying:

• Asset Pricing and investment performance
• Financial markets
• Corporate financing
• The economics of intellectual property and information goods
• Experimental and behavioral economics

Faculty research has been published in leading academic and practitioner journals including: Journal of Finance , Journal of Financial Economics , Review of Financial Studies , American Economic Review , Journal of Political Economy , Journal of Portfolio Management and Journal of Derivatives .

View Finance Area Faculty

Student Experiences

Takeaways From the Master’s in Finance Program

Nidhi Khetan, Class of 2020

As a child, I grew up listening to dinner-table conversations between my father, uncle and grandfather, discussing strategies to expand our business and overcome financial hurdles along the way. This struck a spark in me to understand how business and finance work.

How a CEO Pitched to Wall Street Added Value to My Degree

As part of my degree, one of the electives that I took was energy economics. We got to see different CEOs and CFOs Wall Street pitch. We got to see their whole process.

Policentric Revolutionizes Democratic Participation

Kamiar Kordi hopes to revolutionize politics by increasing awareness and connection between constituents and their representatives. In his interview, Kamiar shares how UT Dallas helped him reach for success and make a change.

Dapo Ogunfeitimi’s Summer Internship at Ernst & Young

As an accounting and finance major at the Naveen Jindal School of Management, Dapo Ogunfeitimi landed a summer internship to gain experience in the field. In this interview, Dapo doesn’t leave out any details of his summer-long experience — even if it means revealing some embarrassing information.

Learning From Site Visits to Solar and Coal Plants

We saw solar plants, coal plants, and we actually got lectures from people who are there inside. And you got a very good idea about how they run and a very practical approach, which was very important.

Everything I Needed From a Master’s in Finance

Hui (Vivienne) Zhi, Class of 2020

The job market in the DFW area is growing rapidly, and the area was ranked No. 1 Best City for Jobs by Forbes in 2020. The job opportunities are always out there if you are ready with the necessary skill set.

A Petroleum Engineer Who Found a New Path in Energy Management

We learned from the energy management course that a lot of economic things in finance about contracts and some technologies are related to the energy industry, including the solar, wind, oil and gas — even the nuclear energy.

Ankita’s Internship at KPMG in the Tax Department

Ankita Kapoor, a junior accounting and finance major at the Jindal School, recently interned with the tax department at KPMG, an international audit, tax and advisory company, to learn more about the work and see if it was right for her. In her interview, Ankita discusses the importance of an internship in ensuring your field is right for you before you graduate

Inspired to Pursue a Second Master’s

I am an electrical engineer and worked as an assistant professor for six-plus years. While working as a professor, I felt that it is equally important to learn the business side of the industry. And that thought inspired me to pursue my second master’s in energy management.

What Does a Master’s in Finance Teach You?

Noah Harness, Class of 2020

My biggest takeaway from the MSF program is my improved knowledge of statistical and quantitative methods and their applications to solving business and financial problems.

Fernanda Muñoz’s Internship at Top Golf International

Fernanda Muñoz, a global business and finance student at the Jindal School of Management, accepted an internship at Top Golf International to dive into the field of finance. In this interview, Fernanda shares details of her experience, including how essential it is to network.

My Path To Success in MS Finance

Jiaojiao Li, Class of 2020

Looking back, the most important thing I want to share with you is: Be open-minded, reach out to veteran students, your professors, your program advisors and the Career Management Center. Be proactive.

Finance Articles

10 Reasons to Study Real Estate!

Working in real estate is a satisfying, enjoyable, rewarding, hands-on career option. Individuals and businesses are buying, selling and leasing property every day and they need well-educated, out-going professionals to help them meet their goals.

Working Full-Time While in the MS in Energy Management Program

Written by Dan Sibley

The program requires completion of 36 semester credit hours. The curriculum was designed to be completed in as little as 12 months (four courses per semester, including the summer semester).

Benefits of Having Faculty With Industry Experience

Written by Stephen Molina

Texas boasts some of the largest energy-related companies in the world. The MS in Energy Management curriculum offers a practical learning component through projects developed by industry members.

Why Get a Master’s in Energy Management?

The energy and power industries are global businesses with strategic assets in both developed and developing countries, and they require an international approach.

Professional Development Opportunities in Energy Management

The program provides professional development opportunities through the student-run clubs, the Energy Association and the Association of International Petroleum Negotiators, and through a mentor program.

Why a Global Perspective Is Important

We strive to prepare our graduates to work for private energy companies and in governments to manage their assets.

Finance Blogs & News

Financial Executives International Honor Late JSOM Professor with Scholarship

A new Jindal School scholarship funded by the Dallas chapter of Financial Executives International honors the late Dr. Constantine Konstans, a former chapter president and founder of the Institute for Excellence in Corporate Governance.

Phi Beta Lambda Turns in Strong Performance at Texas State Leadership Conference

Based in the Naveen Jindal School of Management, the UT Dallas chapter of the student organization Phi Beta Lambda brought home 26 first-, second, and third-place awards from the Texas State Leadership Conference.

2019 Scholarship Breakfast: Former Dallas Mayor Emphasizes Need for Education

Former Dallas Mayor Mike Rawlings tied education to economic viability in a keynote conversation at the Jindal School’s major annual fundraiser, the Scholarship Breakfast. The event raised enough to provide scholarships for more than 40 students.

Panelists Study the Business Value of Emerging Technologies at CFSI/IBM Event

The Jindal School’s Center for Finance Strategy and Innovation teamed with the IBM Global Solutions Center to present a half-day event studying how to unlock the business value of artificial intelligence, blockchain and other new technologies.

Senior Earns Internship Along With International Real Estate Scholarship

Studying real estate and joining the Real Estate Club at UT Dallas sparked senior Arden Pray’s enthusiasm and put her on a path to winning a $5,000 scholarship — and an internship — from the Commercial Real Estate Women Network Foundation.

Alumna Judy Hendrick Earns Women in Business Award

Jindal School alumna Judy Hendrick is a 2019 Women in Business Award recipient Given annually, the recognition honors women who are leaders in the North Texas business community. Hendrick has served as a mentor and established a finance scholarship.

Undergraduate Team Wins Real Estate Competition Despite Pandemic Challenges

The financially feasible creative thinking a team of Jindal School undergraduates used to win a real estate case competition stayed a step ahead of the COVID-19 effect on the market.

Disruptive Digital Technologies Drive the Need for Innovation

Recent disruptive digital innovations have changed the relative cost calculus and thus the best business structures and best business models in most industries. Digital transformation is underway.

Leadership Workshop Series Designed for JSOM Real Estate Students

A roundtable for real estate students is being hosted by commercial real estate VIP Herb Weitzman, eponym and benefactor of the Herbert D. Weitzman Institute for Real Estate at the Jindal School.

Seminar Focuses On How Blockchain Can Deliver Consumer Trust

The Jindal School’s Center for Finance Strategy Innovation and IBM partnered in a seminar that studied how the food and pharmaceutical industries can use the technology of blockchain to help make their supply chains more transparent and more secure.

Restaurateur Talks About Successful Entrepreneurship at Weitzman Institute Event

The Herbert D. Weitzman Institute for Real Estate at the Jindal School hosted restaurateur Phil Romano at a special event. Romano, creator of EatZi’s, Trinity Groves and other eateries, spoke about his new book and his journey as an entrepreneur.

Fall Finance Conference Gaining Momentum

Interest and participation in the Jindal School’s annual Fall Finance Conference are growing. The academic gathering this year attracted about 70 conferees and 200 research paper submissions.

Jindal School Dean Names Director of New Weitzman Institute

Jindal School Dean Hasan Pirkul has appointed Dr. Randall S. Guttery director of the new Herbert D. Weitzman Institute for Real Estate. The institute has been created thanks to a generous gift from real estate icon Herb Weitzman and his wife, Donna.

UT Dallas Undergrads Earn Scholarships for Exemplifying Entrepreneurial Spirit

Three UT Dallas undergraduates will each pick up a $15,000 scholarship from the Texas Business Hall of Fame Foundation at a Nov. 1 luncheon, where business entrepreneurship, resourcefulness and leadership will be lauded.

JSOM Internship Expo Creates Opportunities for Students and Employers

The Jindal School’s Undergraduate Internship Expo brought together 1,500 students and recruiters from more than 50 companies. The expo helped students practice networking skills, and it helped employers find students to fill internships.

Introducing the CMA Review Course

The Jindal School introduces the first Certified Management Accountant (CMA) review course of its kind. Read more about the details of the course and how it can accelerate your career in accounting.

Fernanda Muñoz accepted an internship at Top Golf International to dive into the field of finance. In this interview, Fernanda shares details of her experience, including how essential it is to network.

CAFÉ Hosts Evening With Political Satirist P. J. O’ Rourke

Veteran journalist and satirist P.J. O’Rourke offered a humorous but plain-spoken interpretation of economics for a students, professors and community members who attended a Jindal School event hosted by CAFÉ and featuring his latest book.

New Research Shows Anti-Counterfeiting Enforcements Effective

Jindal School Announces Fellowship at CFSI

The Center for Finance Strategy Innovation at the Naveen Jindal School of Management has appointed Rodney J. Thomas III to an Encore Fellowship, Thomas, a former IBM business unit executive, will promote the center’s visibility and programs.

Finance Program Resources

Finance program resources at the jindal school, academic programs – primary.

The finance area offers on bachelor’s, three master’s and one PhD program.

• Bachelor’s in Finance
• Master’s in Finance (STEM)
• Master’s in Finance Technology and Analytics (STEM)
• Master’s in Energy Management (STEM)
• PhD in Finance Concentration

Academic Programs – Additional

The finance area also offers accelerated pathways to adding more degrees as well as areas of concentration.

• Professional Program in Finance (PPF)
• Risk Management and Cyber Security Concentration
• Real Estate Concentration
• Undergraduate Real Estate
• Graduate Real Estate
• MBA Real Estate

Faculty and Community Activity

Discover how finance faculty are researching, publishing, speaking and engaging in the business community.

• Fall Finance Conference
• Advisory Board
• Newsletters
• Centers of Excellence
• Center and Laboratory for Behavioral Operations and Economics (LBOE)
• Center for Analysis of Property Rights and Innovation (CAPRI)
• Center for Finance Strategy Innovation (CFSI)

Career, Certificates and CFA Exam Prep

Find out about the career resources available to you as a finance student and learn more about the CFA exam and how the Jindal School prepares you for it. There are also two academic certificates for graduate students that anyone can apply for.

• Careers in Finance
• Certificate in Financial Data Science
• Certificate in FinTech

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Ph.D. Program

Advancing to Doctoral Candidacy

When you’re ready to advance to doctoral candidacy, review the policies and procedures.

Doctoral students are required to review the degree plans for their program, along with information about specific degree requirements and estimated timelines to reach various benchmarks for the different degree plan specializations.

Oral Examinations

Once your dissertation is nearing completion, it’s time to schedule your defense—your final oral examination.

• Accelerated Career Awareness Program
• Fintech Certificate
• TCU Global University Entrepreneurship Research Productivity Rankings
• Management and Leadership
• Supply and Value Chain Management

Interested in a career in investment banking, corporate finance, financial services, banking, insurance or real estate? Finance is the major for you – integrating concepts from economics, accounting and more, with a central focus on the relationship between risk and return.

BBA  Finance Major 

BBA  Finance Minor

BBA  Finance & Real Estate Major

MBA Finance Concentration 

Course already closed?

Request a Permission Number

What Sets Us Apart

TCU provides CFA exam prep so you can obtain the ultimate credential in the financial world. More than 100 TCU Neeley graduates have earned CFA charters and gone on to highly successful careers around the globe.

Meet the best investment minds in the world. DFW finance professionals, alumni and students gain insights from the most brilliant minds in the business at this annual conference held at TCU each spring. Learn more .

Join the TCU Financial Management Association and the TCU Real Estate Club and hear from speakers from the best companies in the Metroplex, get tutoring for finance classes, enjoy networking opportunities and more.

The DFW Metroplex is one of the foremost real estate hubs in the country, making TCU the perfect place to provide research, training and partnerships for real estate students and professionals. Networking, experiential learning opportunities and events put you in touch with dynamic, successful real estate professionals. Learn more .

Our professors are foremost experts on capital markets and financial instruments. Our students consistently rank them highly for mentorship, academic experience and teaching quality. 

Meet our Faculty

Finance Conference

The Department of Finance and the Luther King Center for Financial Studies is pleased to invite submissions for the 3rd TCU Finance conference to be held on the TCU Campus October 26-27, 2023. 

Support the EIF

Established by the William C. Conner Foundation, the TCU Neeley Educational Investment Fund has been leading the way for 50 years, developing talented professionals prepared to break new ground through sound training and innovation. In celebration of our 50th anniversary, please consider making a gift today.

Upcoming Events

News and research.

Tandy Executive Speaker Series: Elaine Paul Describes Strategic Shift in Modern Finance, Leadership for CFO Role

January 25, 2024

• Certificate
• Pennsylvania

Finance Programs and Careers in Texas

• Author: Laura McPherson
• Expert Reviewer: Rob Voce
• Editorial Process

The information in this guide can help students decide between the many finance degree programs in the state of Texas. Finance degree graduates can find a variety of opportunities to work within the state’s growing financial services industry. Students can pursue business and finance undergraduate degrees as well as Master of Business Administration (MBA) degrees and quantitatively-focused Master of Science in Finance (MSF) degrees. For working professionals or students who need a more flexible format for other reasons, online degrees and part-time programs are available. Below you will find details on the different types of degrees and post-graduation career opportunities for finance students in Texas.

Quick Facts

• There are 55 colleges and universities with finance degree programs in Texas. 1
• No schools offer a certificate in finance. 1
• No schools offer an associate’s degree in finance. 1
• 54 schools offer a bachelor’s degree in finance. 1
• 14 schools offer a master’s or advanced degree in finance. 1
• 5 schools ranked in Forbes’ Best Business Schools 2019 . 2
• 6 schools ranked in Princeton Review’s Great Schools for Business and Finance Majors 2020 . 3
• 2 schools ranked in US News & World Report’s Best Undergraduate Finance Programs 2021 . 4
• 1 school ranked in US News & World Report’s Best Graduate Finance Programs 2021 . 5

For not-for-profit colleges and universities with finance degree programs.

Table of Contents

• Comparison of Finance Programs

Top-Ranked Schools with Finance Programs in Texas

Select schools in texas with finance degrees, texas finance careers and salary outlook, finance associations in texas, texas finance program comparison.

We have developed the following table to help you compare all of the finance programs in Texas from not-for-profit schools that offer programs with a concentration in finance. In addition to allowing you to compare the business school’s accreditation , finance degrees that appear in bold are Chartered Financial Analyst (CFA) Institute University Affiliation Programs , those that have been recognized for curricula aligned to preparing for the CFA Exam.

• — indicates none.
• N.Av. indicates no data available.

Forbes’ Best Business Schools 2019

• Rice University (#26)
• Texas A&M University (#33)
• Southern Methodist University (#45)
• University of Texas-Dallas (#46)

Georgetown CEW’s ROI Ranking by Long-Term Net Present Value 2019

The Georgetown University Center on Education and the Workforce (CEW) has compared 4,500 colleges and universities on graduates’ return on investment (ROI). We use their net present value (NPV) ranking, which is the current dollar value of earning a four-year degree from the school over a 40-year horizon.

• Rice University (#76; $1,393,000)
• University of Texas at Austin (#163; $1,233,000)
• Southern Methodist University (#167; $1,229,000)
• Texas A&M University-College Station (#178; $$1,222,000)
• Trinity University (#266; $1,140,000)
• University of Texas at Dallas (#274; $1,134,000)
• University of Houston (#327; $1,096,000)
• Texas Tech University (#343; $1,086,000)
• University of Texas at Arlington (#433; $1,043,000)
• University of St. Thomas (#445; $1,039,000)
• University of Houston-Clear Lake (#449; $1,036,000) 7

Princeton Review’s Great Schools for Business and Finance Majors 2020

Rice university.

• Southwestern University
• Texas State University
• University of Houston
• University of Texas-Austin
• University of Texas-Dallas

US News & World Report’s Best Undergraduate Finance Programs 2021

• University of Texas-Austin (#5)
• Texas A&M University-College Station (#35 tie)

US News & World Report’s Best Graduate Finance Programs 2021

• University of Texas-Austin (#13 tie)

Traditional Undergraduate Programs

Angelo state university.

Angelo State University (ASU) offers a Bachelor of Business Administration (BBA) in Finance. Students are prepared to pursue entry-level finance careers as well as graduate school. Banking and insurance topics are integrated into the curriculum along with corporate finance and investment topics. Courses offered include Money and Banking; Corporate Financial Practices; Financial Institution Administration; and Applied Financial Planning. Students have access to the school’s Center for Economic Education, which provides seminars, workshops, and other experiential learning opportunities with a focus on economic education. Finance students may pursue minors in Business Administration; Accounting; Leadership Studies; Management; or Marketing. Non-Finance majors may take a minor in Finance. ASU also offers an integrated BBA in Finance/Master of Business Administration (MBA) program, which allows students to earn both degrees in five years.

Prairie View A&M University

Students can earn a Bachelor of Business Administration (BBA) in Finance through Prairie View A&M University’s (PVAMU) College of Business. The BBA-Finance program emphasizes dynamic markets and modern financial theory along with innovation and ethical conduct. Required courses include Financial Planning with a Global Perspective; Financial Accounting; Quantitative Business Analysis; and Managerial Finance. Minors available to Finance students include Personal Financial Planning, Management Information Systems, Real Estate, and Accounting. Students also take several elective finance and business courses, which allows opportunities to customize the degree program towards personal career interests and goals. Students who select another major may choose to minor in Finance. PVAMU also offers on-campus, online, and executive Master of Business Administration (MBA) programs that include study in finance topics.

Traditional Master’s Programs

At Rice University’s Jones Graduate School of Business, students can earn a Master of Business Administration (MBA) in two years. The first year of the program is devoted to core classes that focus on financial foundations like data analysis, financial management, strategic thinking, and organizational behavior. In their second year, students can choose electives to earn an academic concentration such as accounting, entrepreneurship, finance, or strategic management. Students also learn experientially outside the classroom through internships and experiences with real companies. Located in Houston, the largest city in Texas, Rice offers connections to alumni and other professionals in the finance field. The Jones Graduate School of Business also offers an online MBA and a Professional MBA available in a part-time extended format.

Texas A&M University

Texas A&M University’s full-time Master of Business Administration (MBA) with a track in Finance can be completed in 18 months. The program focuses on applied learning through internship and study abroad opportunities, and students can also personalize their education through electives and specializations. The program is accelerated during the first year so students complete 75% of their coursework prior to their summer internships. The core curriculum focuses on financial and business foundations such as accounting, investment strategies, organizational behavior, and leadership strategies. All students select an academic track from data analytics, entrepreneurship, finance, healthcare, marketing, or supply chain operations. For post-graduation career opportunities, students can access the resources of the career development center and a global alumni network.

University of Texas at Austin

The University of Texas at Austin McCombs School of Business offers a Master of Science in Finance (MSF) degree for those interested in acquiring the quantitative skills and real-world knowledge needed in the world of finance. The program starts in July and takes place over an accelerated 10-month academic year. Students study finance theory and technical, statistical models to understand the international finance industry. Students have the option to specialize in subjects such as energy finance, corporate finance, consulting, asset management, and investment banking. The curriculum is designed with input from an advisory council of executives in the finance field to ensure the content is relevant and useful for graduates, and courses are led by highly experienced faculty with distinguished records in teaching and research.

Online and Hybrid Programs

University of texas at dallas.

The Naveen Jindal School of Management at the University of Texas at Dallas (UT-Dallas) offers a Professional Master of Business Administration (PMBA) degree with a concentration in Finance designed for working professionals looking to move up in their careers. The program is designed to teach strategic thinking and planning in a competitive global economy. Students at UT Dallas can complete the program entirely online at their own pace. Students can also take evening classes in an accelerated 24-month program or pursue a hybrid format with courses on-campus and online. Working knowledge of calculus is required for the program. The business core focuses on subjects such as financial accounting, management, statistics, and global business. UT-Dallas also offers on-campus Master of Science (MS) programs in Finance and Financial Technology and Analytics.

West Texas A&M University

At the Paul and Virginia Engler College of Business at West Texas A&M University, students can earn a Master of Business Administration (MBA) degree completely online or in conjunction with on-campus courses. Though a formal Finance concentration is not offered, students can take finance-related electives to focus their studies. Most students complete the program in around two years, although students can choose their own accelerated or flexible format. Students start with foundational courses in financial accounting, statistics, and corporate finance, and those with an undergraduate in business administration may be able to skip some of these prerequisites. The curriculum focuses on financial knowledge in organizational behavior, international business, and quantitative analysis. After completing the core classes, students can choose an emphasis area such as general business, computer information systems, management, marketing, or healthcare management.

Graduates from finance schools in Texas may find numerous opportunities to work for financial institutions and other companies within the state. There are many statewide banks, such as Texas Capital Bank and the Bank of Texas, as well as corporate centers for larger banks like Bank of America and Wells Fargo Bank. National and international companies such as AT&T, Kimberly-Clark, Whole Foods Market, and American Airlines are headquartered in the state in addition to many of the nation’s largest oil companies. Major companies that rely on finance professionals such as Halliburton, USAA, and Lone Star Funds are located in Texas. Texas is also a hub for the oil and gas industry, serving as the headquarters for companies including ExxonMobil and ConocoPhillips. Students with master’s in finance degrees may have an advantage in finding employment opportunities with these companies and in the large economy of Texas.

The finance industry in Texas is growing and graduates with degrees in finance may have an advantage in finding related employment opportunities. Financial analyst positions in Texas are expected to grow by 19% over the 10-year period between 2018 and 2028, with 3,160 annual job openings including replacements expected. 8 Texas is one of the top locales for financial managers, employing the second-highest number of these professionals (46,710) of any US state. 9 The Houston-Woodlands-Sugar Land metro area has the highest concentration of financial managers (12,700) in Texas, and one of the highest concentrations for this career of all metro areas in the US. 9 Personal financial advisor positions in Texas are similarly projected to grow rapidly in the next ten years, by 25.3% through 2028, with 1,650 average annual openings projected. 8

Texas Finance Salary Information

• Dallas Association for Financial Professionals (DAFP) : Professional organization for those in treasury and financial careers that hosts professional development events as well as networking gatherings. Similar chapters of the Association for Financial professionals are also in Austin, Houston, and San Antonio.
• Texas Consumer Finance Association (TCFA) : Group providing educational opportunities and networking events for financial professionals working with regulated lenders.
• Texas Bankers Association (TBA) : Association of small and large banking institutions that advocates for policy and regulation on behalf of the banking industry in Texas and also provides continued education opportunities for Texas bankers.

References: 1. National Center for Education Statistics College Navigator: https://nces.ed.gov/collegenavigator/ 2. Forbes Best Business Schools 2019: https://www.forbes.com/business-schools/list/ 3. The Princeton Review. The Best 382 Colleges, 2020 Edition. The Princeton Review, 2019. 4. US News & World Report Best Undergraduate Finance Schools 2021: https://www.usnews.com/best-colleges/rankings/business-finance 5. US News & World Report Best Graduate Finance Schools 2021: https://www.usnews.com/best-graduate-schools/top-business-schools/finance-rankings 6. US News & World Report Best Business Schools 2021: https://www.usnews.com/best-graduate-schools/top-business-schools 7. Georgetown University Center on Education and the Workforce, Ranking ROI of 4,500 US Colleges and Universities: https://cew.georgetown.edu/cew-reports/CollegeROI/ 8. Projections Central Long Term Occupational Projections: https://projectionscentral.org/projections/longterm 9. Bureau of Labor Statistics Occupational Employment and Wages, Financial Managers: https://www.bls.gov/oes/current/oes113031.htm 10. Bureau of Labor Statistics Occupational Employment Statistics State Occupational Employment and Wage Estimates, Texas: https://www.bls.gov/oes/current/oes_tx.htm

• Degree Options
• Trading Lab
• Internships

Department of Finance and Economics

The Department of Finance and Economics offers three degrees that provide the foundation you need to prepare for a career in finance, securities, real estate, law, and beyond, including a BA with a major in economics, a BBA with a major in finance or economics, and a minor in international business. Extend your classroom learning in our state-of-the-art T. Paul Bulmahn Research and Trading Lab, and join of our four student organizations, such as our 2018 Future of Energy Challenge-winning Net Impact Team, for even more opportunities for real-world applications of the skills you need to become a leader in finance and economics here in Central Texas or around the world.

Programs that fit your goals

• BBA in Economics
• BBA in Finance
• MS in Quantitative Finance & Economics

Recent News

SMIF team wins 2nd place in the Fixed Income division at Quinnipiac University in Global Asset Management Education (GAME) forum, March 24-25, 2022.

CFA team recently competed in Southwest US Research Challenge and won the first place trophy. Mentored by Dr. Janet Payne. 

The Department of Finance and Economics wants to send out a big congratulations to our Texas State University SMIF team, mentored by Dr.Toles. They recently competed in the Global Asset Management Education (GAME) competition and walked away with the 1 st place trophy in the Fixed Income Division. 

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