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Applicants to the Stevens Program must hold a four-year bachelor’s degree from an accredited university (or expect to receive one by the time they enter the program).

Non-US residents should consult the International Applicants page to learn more about eligibility requirements. Please note that all international applicants must determine if they meet the University of Chicago's English-language requirements before applying. You can find that information in the fluency determination section.

Chicago Booth prides itself on a fair and impartial selection process. To find out more, read the Nondiscrimination Statement.

Admissions Timeline

Please note the application for Fall 2024 is now closed. Our application for Fall 2025 admission will open in September 2024 and be available through December 15, 2024.

The Stevens Program matriculates new students once a year, in the Autumn Quarter. The application deadline is December 15, and applicants are notified of their admissions decision by email. Generally speaking, all applicants should have their decisions by early March. Reviews in each area will begin at different times, after the December 15 deadline, which will impact the timing of the release of admissions decisions for each area. In advanced stages of the review process, some areas will require an interview. Applicants will be notified directly by email if they are invited to interview.

Application Checklist

To apply, please submit the following.

  • Application for admission. The application for Fall 2024 is now closed. Our application for Fall 2025 admission will open in September 2024 and be available through December 15, 2024.  
  • Nonrefundable application fee ($80). If you're interested in applying for a fee waiver, please see below for eligibility requirements and instructions.
  • Official GMAT or GRE scores: The GRE or GMAT is required of every applicant for admission to the Stevens Program in Fall 2025.
    • It is the responsibility of all applicants to ensure that test scores are submitted to the Stevens Doctoral Program by December 15. We will accept test scores received after the application deadline; however, if you submit them after December 15, your application may be reviewed before your scores arrive.To meet the application deadline, we recommend that you take the required test by early October. GMAT and GRE scores are valid for five years. Prior coursework or degrees at the graduate level (e.g., MBA or master’s degrees) do not exempt applicants from submitting the GRE/GMAT as part of their application.  
    • Please see below for area-specific score requirements:
      Economics: GRE is required.
      Finance: GRE is strongly preferred, but GMAT is acceptable.
      Joint Program in Financial Economics: GRE is required.
      Joint Program in Psychology and Business: GRE is preferred, but GMAT is acceptable.

    • Scores should be sent directly to the Chicago Booth Stevens Doctoral Program by listing the institutional codes below when taking the exam:
      GMAT: H9X-9F-05
      GRE: 1501
      TOEFL (if applicable): 1819
      IELTS (if applicable): send TRF number to

    • You may apply for a hardship request for delayed test scores if you are in an area where disruptions may be taking place. You will still have to submit your application by the deadline regardless of if you've been granted more time to submit individual scores. Please note that we can't make a formal offer of admission to an applicant until they've submitted their test scores. You can find more information below in the section titled "Hardship Requests for Delayed Test Scores."

  • Official TOEFL/IELTS scores (international applicants only)
    • It is the responsibility of all applicants to ensure that test scores are submitted to the Stevens Doctoral Program by December 15. We will accept test scores received after the application deadline; however, if you submit them after December 15, your application may be reviewed before your scores arrive.
    • Please see the international applicants page for valid score instructions (including minimum score requirements)
  • Transcripts from all institutions attended after high school
  • Two letters of recommendation
    • Letters can be submitted after the deadline, particularly if your recommenders are in an area where disruptions may be taking place. Please note that we do accept letters through Interfolio.
  • Resume/CV
  • Essay (topics in application):
    • Applicants will respond to writing prompts as instructed in the application. The response(s) may take the form of a statement of purpose, but a formal statement is not required to fulfill the component. For reference, you can find the application instructions below:

Please write a short essay that describes your basic research interests. Describe your exposure, if any, to research in your field of interest. Include non-academic personal or work experiences only if they are directly relevant to the formation of your research interests. Please briefly describe your long-term professional objectives.

  • Optional writing sample

Hardship Requests for Delayed Test Scores:

Applicants for whom a recent natural disaster or other major, widespread disruption has affected their ability to submit required components may submit a Hardship Request as described below. Please note all applicants have to submit their application by the deadline regardless of if they've been granted more time to fulfill an individual component.

If the impact of the incident or disruption makes it difficult for you to submit one or more required components – such as GRE scores,TOEFL scores, transcripts, etc.– by the deadline, please complete your application to the best of your ability and then submit a formal hardship request here. If deemed eligible, we may approve a temporary delay of test scores and allow you to submit your application without one or more required application materials (e.g. GRE or TOEFL scores), although it does not waive the requirement(s).

You will still be required to submit the missing item(s) as soon as circumstances allow. Please note we cannot extend an offer of admission before official test scores have been submitted.

Application Fee: Waiver Eligibility Requirements and Instructions

Upon submission of an application, applicants will be prompted to pay the $80 processing fee. Some applicants may be eligible to receive an application fee waiver. In order to request a waiver, please review the five categories below to determine if you meet the eligibility criteria. Note that you'll only be able to submit a waiver request within the application. You'll upload the supplementary documentation there as well. We will only reach out to individuals whose request for a fee waiver has been declined. If you do not receive a confirmation of determination from us, that means you've been deemed eligible to receive the waiver and it'll be applied to your application once we've processed it. Please do not reach out to confirm the status of your waiver and note that there are often delays in it showing up on your application checklist. Be advised that application fees are non-refundable, regardless if you're later determined to be eligible for a waiver or not.

Fee Waiver Categories:

Category A: Current University of Chicago student or University of Chicago alumni from degree programs (includes current non-degree visiting students and past non-degree visiting students).
You'll be instructed to upload your transcripts as verification.

Category B: Current University of Chicago Staff (including full-time research professionals).

Category C: Current/recent participants in a qualifying program.

Documentation certifying participation is required. Acceptable forms of documentation include award or acceptance letters, letters from program directors, program completion certificates, etc. Qualifying programs are:

AEA Summer Programs attendees
Big Ten Alliance FreeApp Recipients
Bill and Melinda Gates Millennium Scholars
California Forum on Diversity
Expanding Diversity in Economics (EDE) Summer Institute attendees
Fulbright/IIE Fellowship recipient
GRE fee reduction voucher recipients
IDDEAS participants (IDDEAS@Booth/Kellogg or IDDEAS programs hosted by other schools)
Institute for the Recruitment of Teachers (IRT)
Leadership Alliance
Mellon Mays Undergraduate Fellowship
National Name Exchange
Next-Gen Psych Scholars Program (NPSP)
Peace Corps
PhD Project Annual Conference attendees
Posse Foundation Scholars
Project SHORT
Public Policy and International Affairs Program (PPIA)
Ronald McNair Scholars and/or Post Baccalaureate Achievement Program
Sadie Collective
Summer Institute for Social Science Research Methods
Teach for America
U.S. Armed Forces or uniformed services: Currently serving (active duty or reserves) or honorably discharged

Category D: Current undergraduates receiving need-based financial aid from a U.S. institution:
If you are currently (as of the date of the application deadline for this program, i.e. December 15, 2024) enrolled as an undergraduate student at an institution within the United States and are receiving need-based financial aid from your current institution, you may be eligible for an application fee waiver. A copy of the institution’s financial aid letter or a letter from the institution’s financial aid office is required.

Category E: Individuals experiencing financial hardship:
Applicants who are experiencing financial hardship and are not eligible for a fee waiver under any of the other categories may be considered for a fee waiver. Applicants requesting an application fee waiver on the basis of financial hardship must upload a brief written statement which explains their financial hardship and how they intend to cover their pre-matriculation expenses (e.g. moving expenses) if admitted. You will also be prompted to complete a hardship request form within the application.

Application fees are non-refundable. If you are requesting an application fee waiver, do not pay the application fee while your request is under review. You should only pay the fee if you receive an email from us indicating that your fee waiver request has been denied. All applicants are automatically prompted to pay the application fee upon final submission of their Stevens Doctoral Program application whether an application fee waiver was requested or not, so please disregard this request for payment unless/until the fee waiver request has been denied. If your request is approved, we will manually waive the fee once we have determined your eligibility.

Application fee payment will not be refunded if:
-You pay the application fee before receiving our fee waiver request decision, and later have your waiver request approved.
-You do not complete the fee waiver request form inside the application and pay the fee, then later realize you were eligible for a fee waiver.

Fee Waiver Decision Notification
We will not be reaching out to applicants whose request for a fee waiver has been approved. You will only be notified via email if your request has been denied. We do not make any determinations before your application to the Stevens Doctoral Program has been submitted, so please make sure to do so by the application deadline. Fee waiver requests are subject to review, are not guaranteed, and are not automated. Because reviews and waivers are done manually, it may take up to several weeks after the submission of your Stevens Doctoral Program application before you receive a decline notification or see your approved waiver show up on your account (fee waiver requests will not be reviewed until the full application has been submitted). Only applicants who select one of the categories above, provide the requested information/documentation, and qualify for the waiver under that category may receive a fee waiver. Fee waiver approvals are subject to the criteria listed above.

Admission to Joint PhD Programs

US Military Personnel

Admitted students who are called to active duty prior to matriculation will be granted a deferral of admission and Chicago Booth financial aid to the following year. Deferrals will be reviewed/extended on an annual basis.

The Stevens Program at Chicago Booth accepts up to three courses in transfer credit from other approved institutions. These credits can only be used toward the coordinated sequence requirement. The Stevens Program does not grant credit for experiential learning or online courses.

For details on readmission, taking a leave of absence, resuming studies, academic grievance policies, and add/drop requirements, please see this Guidebook.

Contact Us

If you still have questions after reviewing our doctorate in business FAQ, please contact us. We look forward to hearing from you!

Phone: 773.702.7298
Email Us