Raison d'Etre
Program Structure
Gaining Admission
Costs and Financial Aid
For More Information
Answers to some common questions may help explain the features and requirements of our doctoral program. Please do not hesitate to contact us with other questions.
Raison d'Etre
Q: Why pursue a PhD in Management?
The Vanderbilt PhD in Management Program is designed primarily to prepare students for academic careers in research and teaching at schools of management or other divisions of major colleges and universities. Our graduates will be prepared for positions in prestigious organizations where academic research is highly valued.
Q: What is the demand for university professors in the various fields of management?
Figures compiled in 2000 by AACSB and The International Association for Management Education suggest that demand for PhD faculty in business schools continues to rise, in terms of both existing vacancies and planned growth in faculty positions. As an article in the Chronicle of Higher Education in May 2001 put it, "Business schools are expanding their faculties to cash in on growing student demand for courses, but the supply of available scholars has barely budged over the past decade." A report in Business Week in early 2001 indicated there were more than 400 vacant faculty positions at the nation's top 50 business schools. Demand for faculty is also reflected in salaries paid by business schools, which are substantially higher than in many disciplines in the arts, sciences, and humanities. Business school faculty members frequently receive summer research support over and above an academic year salary, and also encounter opportunities for outside income in consulting and executive education.
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Program Structure
Q: What areas of specialization are offered in the PhD Program in Management?
We have specialized programs in Finance, Marketing and Organization Studies. However, we will not be accepting applications for Fall 2010.
Q: What are the main requirements of the PhD program?
Specific requirements vary by area of specialization. All PhD students acquire "core knowledge," which is certified by taking courses or demonstrating knowledge through prior coursework in the functional business fields (accounting, finance, marketing, operations management, and organization studies), in economics, and in analytical tools appropriate to the student's specialization. Beyond core knowledge, students may be required to pass a preliminary exam in quantitative tools or a basic discipline (this requirement varies by specialization), and must pass a preliminary examination in their chosen specialization within management. A student formally enters "candidacy" by passing the qualifying exam, which entails the successful defense of a dissertation proposal. The degree is awarded when the dissertation is completed and successfully defended before one's dissertation committee.
Q: How many courses do PhD students take? Who offers them?
The PhD program requires 72 semester credit hours, typically including 40 to 50 credit hours of formal coursework, with the rest taken as dissertation credit. Some formal doctoral-level courses are offered at the Owen Graduate School of Management, but given the small size of our program, students inevitably take many of their courses outside Owen. For example, doctoral students in Finance take courses in the Department of Economics and students in Organization Studies frequently take courses in the Departments of Psychology and Sociology. PhD students also sometimes take upper-level MBA courses, particularly in their specialization; it is common in such cases for the professor to require work over and above that expected of MBA students. Transfer credit is also possible for relevant prior coursework.
Q: How long does it take to complete the formal coursework in the PhD Program?
For students without an appropriate masters degree two years of full-time formal coursework is generally necessary. For students with an MBA or other master's degree relevant to their specialization, the number of courses can be reduced by exemption from core knowledge requirements or through transfer credit. Note, however, that graduate credit may be transferred only from graduate schools in accredited institutions; such transfer is not automatic and must be specifically approved by your advisor, the director of the PhD Program and the dean of the Graduate School of Vanderbilt University.
Q: Who would advise me as a PhD student?
If you are offered admission to the program, the letter of admission will identify a faculty member within your area of specialization who has agreed to serve as your initial advisor when you enter the program. This obligates neither you nor the faculty member for a four-year period of supervision; as your interests and research agenda develop toward the preparation of a dissertation proposal, it is certainly possible that a different faculty member will emerge as the appropriate advisor on your dissertation research. Of course, any faculty member can serve as an informal guide; students are encouraged to speak with relevant faculty in the selection of coursework and on other matters of mutual interest.
Q: How much flexibility exists in the PhD Program?
The program offers quite a lot of flexibility because it is small and can respond to interests of individual students. Specific knowledge and exam requirements must be met, but there is flexibility in the particular courses chosen and the particular areas of knowledge to be emphasized. Faculty typically compose exams with each particular student in mind, to test competence in areas where the interests and prior accomplishments of the student indicate that it should exist.
Q: What is the nature of the research requirements of the PhD Program?
Research is carried out while students are taking formal coursework and during summers. As research assistants, students are involved with faculty in joint research activities and pursue their own research objectives under faculty supervision. These activities should be directed toward authoring or co-authoring papers to be presented at academic meetings and submitted to research publications by the time the student is ready for dissertation research. To compete successfully in the academic job market, students should place a high priority on the development of a research agenda yielding tangible outcomes, such as meeting papers and publications.
Q: Are PhD students required to teach?
PhD students are not formally required to teach, but some teaching experience is highly desirable for anyone expecting to pursue an academic career. Students serve initially as faculty research assistants but also are called on to assist faculty members in teaching certain courses. Students are usually able to take advantage of opportunities to assume responsibility for teaching a full course, either in Vanderbilt undergraduate programs, at nearby colleges and universities, or occasionally in elective courses in the Owen MBA Program. Gaining teaching experience is important for developing an overall portfolio for the academic job market, but doing so for income reasons, beyond that needed for experience, would be undesirable and risks compromising the development of a strong research record.
Q: Is it possible to get the PhD degree on a part-time basis?
No. The PhD degree involves intensive academic study and collaborative research, which cannot be accomplished on a part-time basis. A strength of the Vanderbilt program is its opportunities for joint work and interaction with faculty and fellow students, which would be diluted in a part-time effort. In exceptional circumstances it may be possible for students to take certain preparatory courses on a part-time basis. However, most of the period during which a student is taking courses and working on the dissertation should be devoted to full-time study.
Q: After receiving the PhD degree, how do I find a job?
Academic positions at quality institutions are filled on the basis of the applicant's academic performance, research accomplishments, and teaching skills and interests. Placement is frequently accomplished through the active support of the student's principal dissertation supervisor and/or other area faculty members. Completed research papers authored or co-authored by the student that have been published or accepted for publication are particularly helpful in securing a faculty appointment at a major research-oriented university.
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Gaining Admission
Q: What is the deadline for admission applications?
Our deadline each year is January 15th for Fall admissions. However, we will not be accepting applications for Fall 2010. We do not offer admissions during other semesters. We do not do any pre-qualifying for admissions. We will begin reviewing completed applications after the January 15th deadline.
Q: On what key factors is admission based, and who decides?
Admission is based on undergraduate (and graduate, if applicable) transcripts, scores on standardized tests, and recommendations from former professors or employers who can speak to your ability and motivation to do doctoral-level work at Vanderbilt. With respect to standardized tests, we will accept either the Graduate Management Admissions Test (GMAT), or the Graduate Record Examination (GRE).
A critical factor is the statement of purpose that the candidate provides on the application. We seek evidence that the applicant understands the specific nature of the program to which he or she is applying, can articulate scholarly intentions that fit with the current research interests of current faculty, and is academically prepared to undertake the demands of the program with a high probability of success. This is in many ways the most important aspect of an application. We reject many applications from individuals with fine academic credentials who write a statement of purpose that is vague, generic, or otherwise poorly crafted. Thus, superior academic qualifications (i.e., grades, test scores) are necessary but not sufficient criteria for admission.
Applications are reviewed by faculty in the area in which the applicant proposes to specialize. They provide recommendations to the school's PhD Committee, which makes the final decision.
Q: Is an interview required?
We do not admit an applicant unless faculty members in the area of specialization have spoken personally with him or her, either face-to-face or by phone. We prefer to limit these interviews, however, to applicants who we feel are strong candidates (in other words, applicants who have passed an initial screening of their credentials). Accordingly, we ask that applicants refrain from attempting to schedule an interview or visit until a complete (or nearly complete) application has been received. After initial review, promising applicants will be contacted by area faculty to see if an interview visit (or a series of phone interviews) can be arranged.
Having said all of the above, we do understand that if you live far away you might have a window of opportunity to visit Nashville at a time of year that doesn't match our preferred admissions sequence or make it possible for you to submit your application before visiting. In such cases the faculty will probably ask you in advance for a synopsis of your credentials and interests before they agree to schedule interviews. Contact the director of the PhD Program or the faculty member who serves as PhD coordinator for your intended area of specialization (see For More Info section below) to discuss such a visit.
Q: How selective is Owen with respect to admitting PhD students?
The PhD program is small and highly selective. The only criteria for admission are the applicant's credentials. We are under no pressure to admit any specific number of PhD candidates.
Q: Does it help to have an MBA degree before entering the PhD program?
Not really. It speeds the time-to-degree a little because students with an MBA degree are likely to meet the requirements for core knowledge in the five functional business fields. They may be able to transfer a few courses for graduate credit. However, students interested in the PhD degree should consider applying immediately to the doctoral program, rather than taking the time to complete an MBA first. The principle purpose of the PhD program is to train students to carry out research in a functional field of business, while the MBA program is directed at communicating existing principles of managerial behavior. Prior graduate work that is research-oriented and related to one’s intended field of doctoral study is far more useful (some examples: prior study in economics or mathematics for a Finance applicant, or in psychology or sociology for an Organization Studies applicant).
Q: Can I earn an MBA degree as part of my studies toward the PhD?
We strongly advise against it. The MBA is earned through a separate professional degree program that is not formally related to the PhD Program. In order to pursue an MBA, a PhD student would have to obtain permission from his or her advisor and the director of the PhD Program, apply to the MBA program and gain admission, and pay the full cost of tuition for the additional courses required. PhD fellowships do not cover tuition for MBA courses not required for doctoral study.
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Costs and Financial Aid
Q: How much does it cost to attend Vanderbilt, and what financial aid is available?
Students admitted to the PhD Program are usually awarded fellowships that include a full tuition waiver, health insurance, and a stipend covering living expenses. During the 2009-2010 academic year, the tuition waiver and health insurance waiver will be worth approximately $37,900, and the amount of the stipend will be $20,500 for a 12-month period. Owen fellowships carry an expectation that the student will devote 12 hours per week serving as a research assistant or engaging in research collaboration with faculty. For outstanding candidates, the Graduate School of Vanderbilt University awards a limited number of fellowships that add $6,000 to $10,000 to the amount of the Owen School Fellowship award. Fellowship awards are typically renewable for four years, as long as the student remains in good standing and continues to make progress toward completion of the degree.
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For More Info . . .
Q: Where can I go for more information about the Vanderbilt PhD in Management Program?
For answers to specific questions about a particular specialization within the PhD Program, contact the faculty member who serves as the area PhD coordinator:
Finance
Ronald Masulis
ronald.masulis@owen.vanderbilt.edu
615.322.3687
Organization Studies
Bruce Barry
bruce.barry@owen.vanderbilt.edu
615.322.3489
Marketing
Steve Hoeffler
steve.hoeffler@owen.vanderbilt.edu
615.322.2995
Q: How do I apply to the Vanderbilt PhD in Management Program?
We will not be accepting applications for Fall 2010.
Applications to the Vanderbilt PhD in Management Program may be completed online through the Graduate School's website. Choose "Management" (in the "Social Sciences" group) as the program to which you are applying. Within the application, specify your chosen major field of study (Finance, Marketing, or Organization Studies) as the area of specialization.
Q: Explain the administrative division of labor. Why do I get information from the Owen Graduate School of Management but make application to the Graduate School of Vanderbilt University?
It is an Owen program, but administratively the Vanderbilt PhD in Management (like all PhD Programs at Vanderbilt) is part of the Graduate School of Vanderbilt University. Thus, you make application to our program through the Graduate School, although the decision whether or not to admit you rests with faculty within Owen. Once enrolled, students in the program are subject to the academic regulations and requirements of the Graduate School as well as those in the Owen promulgate. In addition, certain key milestones, such as the qualifying examination and the dissertation defense, are administered through the Vanderbilt Graduate School.
To inquire about the status of an application or other administrative matters, please contact the Owen PhD Program administrator:
Janet Sisco
Email (preferably) PhDProgram@owen.vanderbilt.edu
Telephone 615.322.5652
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