Frequently Asked Questions
When is your application deadline?
January 15 is the early application deadline.
What time of year do your programs start?
All of our programs begin in September each year; there is no January or May start.
What tests do you require?
A GMAT score report taken within the last five years for all applicants. In lieu of GMAT, we also accept GRE score reports.
Applicants whose primary language is not English, and whose language of instruction from their previous degree was other than English, must submit proof of English language competency. We accept TOEFL, IELTS, CAEL or the Michigan Test as sufficient proof.
Do you require minimum test scores?
To be competitive in the application process, the following are recommended performance levels:
GMAT: 650 total score
GRE: 1100 total score (after August 1, 2011 new scoring system - verbal 130 to 170; quantitative 130 to 170; writing /6.0 - a total score of 305 on the new scale)
TOEFL iBT: total score of 89, with minimum skill scores of 21 in each of the skills tests (speaking, writing, reading and listening)
TOEFL - paper-based: 573 total score
Michigan Test: 90
Can my references just email you their letters?
No; each referee must complete the electronic reference form that is sent to them as part of your online application. Applicants are required to submit a minimum of two references.
Does the writing sample need to be in English?
Yes, we require a writing sample in English.
How can I find out more about faculty research interests?
Applicants are not required to contact faculty members as part of the application process, but may want to review faculty profiles to see who shares their research interests. This information may be included in the personal statement or statement of research interests.
When will I receive a response regarding my application?
The admissions committee will begin meeting in February to review complete applications. Since applications must pass through three levels of review, the earliest applicants will hear a response is March/April, and sometimes later.
If I am admitted, how long do I have to make a decision?
You generally have three weeks to make a decision and secure your spot by mailing in your deposit and signed acceptance of admission form.
What is the average duration of the program?
The PhD program is designed to be completed in four to five years - two years of coursework, and two to three years working on a dissertation.
The MFin: Co-op program consists of five terms, or 20 months, of study - three terms of on-campus coursework, and two paid co-op work terms.
The MSc and MFin programs are three terms, or 12 months, of study.
Do you offer a distance learning degree or a part-time program?
We do not offer a part-time program or distance learning. PhD students who have finished their coursework and comprehensive exam and are working on their dissertation may choose to switch to part-time study, but will no longer receive funding.
Can I work while studying full-time?
Students receiving funding for the PhD and MSc programs are expected to complete teaching and research assistantships. Working outside of the program is strongly discouraged.
Do students receive funding?
Students admitted to study on a full-time basis in doctoral programs are guaranteed a minimum of $20,000 per year for up to four years. The average level of annual funding for eligible doctoral students in our program presently exceeds $24,000 per year. Eligible MSc in Management students admitted to study on a full-time basis are guaranteed financial support averaging $13,000. Such support is made up of teaching assistantships, internal and/or external scholarship awards, and research assistanships, where available.
Master of Finance students are automatically considered for internal scholarships upon admission and are encouraged to apply for external awards. There is no funding for MFin students.
Where can I find more information on other scholarships and awards?
The Faculty of Graduate and Postdoctoral Studies has information on external scholarships and awards on their website.
Read more about admission to our programs.
Read more about tuition and fees.