At Boston University Questrom School of Business, PhD candidates are researchers, collaborators, students, and teachers.

It’s a tight-knit community where world-class faculty members partner with students, helping them to master research methods, learn across disciplines, and analyze data. Above all, they work together to tackle the most challenging management problems impacting society.

The community expands beyond Questrom, into Boston, the city we call home. With it’s top universities, leading research centers, and brilliant business minds, you won’t find a better city to be a scholar.

BU provides generous support to its PhD students. This support includes a full tuition scholarship, fully covered student fees, payment of the premium for you to participate in BU’s student health insurance plan, and a stipend to cover living expenses.

We offer two PhD in business programs: PhD in Business Administration and PhD in Mathematical Finance. The PhD in Business Administration offers seven academic disciplines. Our PhD community is small, we seek candidates who will thrive in an open environment where collaboration and collegiality are key.

When we review applicants we consider analytical skills, GMAT and GRE scores, academic background, and research fit—we want to ensure that your research goals are a good match with our faculty, who provide exceptional support and expertise. Our aim is to create a class of diverse and dedicated researchers. PhD candidates at Questrom come from a variety of impressive backgrounds, not just in academics, but in culture, life experience, and professional work.

We want to get to know you better through your application, beyond the numbers. Ready to take the next step? We encourage applicants from all backgrounds—not just business—to apply to Questrom. We look forward to hearing from you!


PhD ProgramAdmissions

Admissi0ns Deadlines

Entry Date Application Deadline
August 2024 December 1, 2023
PhD ProgramAdmissions

Admissions Checklist

We know the application process can take a lot of time and effort.

The Graduate Admissions team is here to help, feel free to email or call us with any questions. Below, you’ll find our admissions checklist—keep it handy and bookmark it in your browser.

Remember: You may submit one application per entry term, and you can check the status of an existing application at any time. The Graduate Admissions and Financial Aid Office keeps all records on file for one year. Once you’ve applied, we’ll begin the review process.

PhD in Business Administration Checklist
Materials Submission Options
Online Application Form Required Online only
Application fee ($125) Required, unless waived Credit/debit cards only.
Online only at time of application submission.
Waiver request form.
Personal Statement Required Online only
Resume Required Online only
3 Letters of Recommendation Required Online only
University-Level Transcripts Required
Transcripts for any coursework completed, including study abroad, transfer credits, and post-graduate work. Unofficial documents will be accepted for admission consideration. Official copies will be required for incoming students prior to matriculation.
Online preferred
Email
GMAT and/or GRE Results Required
BU’s codes vary by program, so please see the GMAT and GRE Code chart below for your degree.
Electronic Preferred
Email
Request Official Scores
English Language Exam Required for international applicants, unless waived
See more information on accepted exams and the waiver policy in the “Information for International Students” section outlined below.
Electronic Preferred
Email
PhD in Mathematical Finance Checklist
Materials Submission Options
Online Application Form Required Online only
Application fee ($125) Required unless waived. Credit/debit cards only.
Online only at time of application submission.
Waiver Request Form
Personal Statement Required Online only
Resume Required Online only
3 Letters of Recommendation Required Online only
University-Level Transcripts Required
Transcripts for any coursework completed, including study abroad and post graduate work. Unofficial documents will be accepted for admission consideration. Official copies will be required for incoming students prior to matriculation.
Online preferred
Email
GMAT and/or GRE Results Required
BU’s codes vary by program, so please see the GMAT and GRE Code chart below for your degree.
Electronic Preferred
Email
Request Official Scores
GRE Math Subject Test Optional
BU’s codes vary by program, so please see the GMAT and GRE Code chart below for your degree
Electronic Preferred
Email
Request Official Scores
Prerequisite Coursework Required
Specifics on prerequisite coursework can be found in the FAQs section below.
Online only
English Language Exam Required for international applicants, unless waived
See more information on accepted exams and the waiver policy in the “Information for International Students” section outlined below.
Electronic Preferred
Email

Please note: our ability to process mailed application materials may be significantly delayed. Because of this, we encourage applicants to plan to also send electronic copies of all necessary documents to questromappdocs@bu.edu.

The Boston University Questrom School of Business Graduate Admissions Committee conducts a rigorous and holistic review of each application. Students admitted to our graduate degree programs must provide proof of an earned bachelor’s degree or equivalent international credential. Boston University does not require official transcripts with the submission of an application. Should a student decide to enroll at Boston University Questrom School of Business, official transcripts must be submitted and verified prior to the point of matriculation. We are an equal opportunity, affirmative action institution.


GRE and GMAT Codes

GMAT and GRE test scores are valid for 5 years and you should upload an unofficial copy with your online application. You can register for the GMAT exam at mba.com, and the GRE at ets.org. You may also wish to familiarize yourself with these tests by viewing free GMAT sample questions and practice tests, as well as free GRE preparation materials, though we do not endorse any particular prep source and encourage you to do your own research.

GMAT Codes

PhD in Management: P42-5K-06
PhD in Mathematical Finance: P42-5K-96

GRE Code

PhD Programs: 3087


Information for International Students
ENGLISH LANGUAGE PROFICIENCY:

Candidates who have earned or will have completed at least two years of a bachelor’s or master’s degree at an institution in which the language of instruction was solely based in English are eligible for an automatic TOEFL/IELTS/PTE waiver. Candidates must present evidence of language of instruction with the application for admission. Appropriate documentation includes a transcript coversheet, an official statement from the university, or a link to the institution’s website that specifies that the mode of instruction is English. Additionally, candidates who have or will have worked for at least two years in a full-time, post-bachelor’s degree position in the US are eligible for an automatic waiver. If you do not meet this criteria but would like to be considered for a waiver, you can submit a written request highlighting your experience with and proficiency in the English language to questromphd@bu.edu prior to the submission of your application. The admissions committee will consider these requests on a case by case basis. If you are submitting test results with your application, please be advised that tests are valid for two years.

We are currently accepting Duolingo scores in addition to TOEFL and IELTS.

To access the Duolingo test, go to https://englishtest.duolingo.com/applicants.  Select Boston University Graduate & Professional Programs as a score recipient, and email questromappdocs@bu.edu with your name and the date you have taken the Duolingo test.

  • TOEFL: BU’s TOEFL code is 3087. Minimum Scores of 600 on the PBT or 90 on the iBT are recommended.
  • IELTS: Competitive applicants typically score a minimum of 6.5 on each band.
  • PTE: As more candidates submit the PTE, we are developing updated standards for our requirements. As new information becomes available, it will be posted here.
  • Duolingo: A minimum score of 120 is recommended.
UNDERGRADUATE DEGREES:

We require that applicants hold a four-year bachelor’s degree from an accredited US institution or its international equivalent. If you have earned a three-year degree that is the equivalent of a four-year degree in the US, it will be accepted in the admissions process.

Diplomas, the Higher National Diploma (H.N.D.), certificates, memberships or associate memberships in some professional organizations, and some bachelor’s and technical degrees are not considered equivalent to a U.S. bachelor’s degree for the purpose of gaining admission to Questrom School of Business.

For example, if you earned a three-year degree in India, your degree will qualify you to be considered for admission. Regardless of program length, if you are uncertain whether your undergraduate degree meets our qualifications, please contact mba@bu.edu before starting the application process.

PhD ProgramAdmissions

Doctoral Fellowships

We offer a highly competitive, fully funded doctoral fellowship to all admitted doctoral students. It is available for five years.

Questrom Doctoral Fellowship

The fellowship includes:

  • a full tuition scholarship
  • individual health insurance
  • a graduate assistantship ($45,000 for 2024-2025) towards your living expenses.

In addition, there are four cycles annually to apply for research and conference funds.

  • PhD in Management students are invited and welcomed to apply for conference and research funding in years 1-5.
  • PhD in Mathematical Finance students are invited and welcomed to apply for conference funding in years 3-5, only after having passed all qualifying exams.

You must remain in good standing and be actively pursuing your degree to continue to receive this fellowship. Specifics can be found here.

International students must meet proper visa requirements where appropriate and arrive on-time to begin the program.

Graduate Assistantship

The graduate assistantship is based on a full calendar year. You will be expected to be in residence during the summer, pursuing your research agenda and preparing for your teaching assignments. The requirements are different for the PhD in Management and the PhD in Mathematical Finance.

PhD in Management

  • Years one and two you will be required to serve as a research assistant (RA). Working with faculty as an RA is an integral part of your doctoral experience and will provide you an opportunity to quickly gain first-hand experience.
  • Years three through five you will be required to teach at least one course and sometimes, consistent with preparing a viable academic record, your department may require you to teach a second course. As determined by your department, you will continue with your RA responsibilities on non-teaching semesters.

PhD in Mathematical Finance  

  • Years one through five, you will be required to work as a Teaching Assistant (TA), Research Assistant (RA) or teach every semester. Active involvement with faculty acting as mentors in both research and teaching is a critical part of the doctoral experience, designed to complement and add to what is covered in the course work.
ADDITIONAL FINANCING

Should you require additional funding including federal financial aid, private loans, private scholarships, and/or veterans benefits we are happy to guide you through the financial aid process and provide any assistance along the way.

For more information

Reach out to the Graduate Admissions and Financial Aid Office:

PhD in Management: questromphd@bu.edu
PhD in Mathematical Finance: questromphd@bu.edu (617) 353-2670

PhD ProgramAdmissions

Additional Financial Aid

Should you be interested in additional funding sources we’re happy to guide you through the financial aid process and provide any assistance along the way.

To help you plan for your graduate education, take a look at the information we’ve laid out for you below.

Federal Financial Aid

If you are a US citizen or permanent resident, you are eligible to apply for a Federal Direct Stafford Loan, which provides low-interest loans to students pursuing graduate education.

To apply for federal financial assistance, you must submit the following:

  1. Obtain an FSA ID from the Department of Education website. You will need a PIN to complete the FAFSA.
  2. Complete the 2021-2022 Questrom Application for Federal Financial Aid (FAFSA) online. Boston University’s school code is 002130.
  3. Complete the Questrom Application for Federal Financial Aid and submit it to the Graduate Programs Office via drop off, mail, fax, or scan and e-mail.
Private Loans

US citizens, permanent residents, and international students can finance business school with private education loans. US citizens and permanent residents who qualify as creditworthy do not require cosigners. International students, however, must apply with a creditworthy US citizen or permanent resident with a US-based address. For more information about lenders in the rapidly changing loan environment, please visit BU’s Alternative Financing Options website.

Private Scholarships

Many State and private organizations offer scholarships to students who demonstrate academic excellence. The Graduate Academic & Career Development Center encourages you to apply for all external scholarship opportunities. For your convenience we have included a list of outside scholarships.

External Resources:

  • Fast Web: Database of over 1.3 million scholarships, fellowships, and grants
  • FinAid: Information on scholarships, loans, saving plans, and military aid
  • Scholarships and Grants: Free US College Scholarships, Grants, Competitions and Awards Resources
  • Unigo: Database of over 2.5 million scholarship awards
  • CollegeBoard: College Board’s scholarship search from a database of over 2,300 sources
  • CollegeNet: CollegeNet’s scholarship search
  • GradLoans: The Student Loan Network provides answers to financial aid questions and links to free scholarship searches
  • The Scholarship Page: Scholarship search engine
  • AAUW: American Association of University Women offers awards, grants, scholarships and fellowship opportunities to women
  • Government Finance Officers Association: Offers accounting, finance and business graduate scholarships
  • The Independent Institute: Essay contest
  • OP Loftbed Scholarship
  • AACE International Competitive Scholarships: Scholarships to qualified students who are enrolled or planning to participate in an accredited college or university program.
  • Government Grant programs (Costs money for the information)
  • Grants for Single Mothers: Grants for Single Mothers is among the web’s top educational resource focused on helping single moms. Topics include single mom financial aid, scholarship resources, food and housing programs, parenting advice, and related information. The site is maintained by a single mom, Lindsay Blanche, in hopes to help and educate other single moms in need.
Veteran Benefits

Veterans and military personnel are eligible for educational assistance. If you are interested in taking advantage of this assistance, please contact 1-888-GI-BILL (1-888-442-4551) and speak with a Veterans Benefits Counselor or visit the GI Bill website. Boston University is proud to participate in the Yellow Ribbon Program, an agreement with the Veterans Administration (VA) to fund tuition expenses that exceed the highest public in-state undergraduate tuition rate. Individuals with active duty service since September 11, 2001, may be eligible for this benefit and can apply online at United States Department of Veterans Affairs. As a 2010-2011 academic year participant in the Post-9/11 GI Bill’s Yellow Ribbon Program (YRP), Boston University will provide 20 students with Yellow Ribbon scholarships on a first-come, first-served basis. The University will contribute up to $2,600 per student per semester (fall, spring, and summer) that will be matched by the Veterans Administration. Please click here for more information.

PhD ProgramAdmissions

Class Profile

Unless otherwise specified, all metrics are for admits to the Fall 2021, 2022, and 2023 entry terms.
10

Incoming Students, PHD IN BUSINESS ADMINISTRATION (Fall 2023)

2

Incoming Students, PHD IN MATHEMATICAL FINANCE (Fall 2023)

9.8%

ACCEPTANCE RATE, PHD IN BUSINESS ADMINISTRATION (Fall 2023)

14.8%

ACCEPTANCE RATE, PHD IN MATHEMATICAL FINANCE (Fall 2023)

166

AVERAGE GRE QUANT, PhD in Business Administration

170

AVERAGE GRE QUANT, PhD in Mathematical Finance

712

AVERAGE GMAT

3.76

AVERAGE GPA (on a 4.0 scale)

26

AVERAGE Age, at start of the program

2 years

AVERAGE Work Experience, prior to applying


NATIONALITIES REPRESENTED IN COHORTS ENTERING IN 2021-2023

BANGLADESH
CANADA
CHINA
FRANCE
INDONESIA
IRAN

ITALY
KOREA
PHILIPPINES
SINGAPORE
UNITED STATES
HONG KONG

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