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

Admissions Timeline

The PhD 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 in early March.

The application for Fall 2021 is now available.

Application Checklist

To apply, please submit the following.

  • Application for admission. Our application typically opens in September and is available through December 15.
  • Nonrefundable application fee ($80)
  • Official GMAT or GRE scores
    Chicago Booth is not requiring the GRE/GMAT for admission to the PhD Program in Fall 2021 due to the ongoing pandemic. Applicants without a GRE/GMAT will be given full consideration. Applicants who do not submit a GRE/GMAT score for the Fall 2021 application do not need to seek a waiver or submit a request, as submission of these scores is strictly optional for Fall 2021. If you are planning to apply to the Joint Program in Financial Economics, you are still required to submit your GRE score.  

    If you do decide to submit your test scores, most dissertation areas accept either the GMAT or the GRE, with the following exceptions:
    • Economics: GRE only (GMAT not accepted) for those submitting optional scores 
    • Finance: for those submitting optional scores, GRE is strongly preferred; GMAT is acceptable
    • Joint Program in Financial Economics: GRE is required
    • Joint Program in Psychology and Business: for those submitting optional scores, GRE is preferred; GMAT is acceptable

    For Joint Program in Financial Economics applicants and those who decide to submit optional test scores, scores should be sent directly to the Chicago Booth PhD Program by listing the institution code when taking the exam:

    • GMAT: H9X-9F-05
    • GRE: 1501
    • TOEFL (if applicable): 1819
    • IELTS (if applicable): send TRF number to phd@chicagobooth.edu

    It is the responsibility of Joint Program in Financial Economics applicants and those submitting optional scores to ensure that test scores are submitted to Chicago Booth's doctoral program before December 15. 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 Joint Program in Financial Economics applicants from submitting the GRE as part of their application.

  • Official TOEFL/IELTS scores (international applicants only)
  • Transcripts from all institutions attended after high school
  • Two letters of recommendation
  • Resume/CV
  • Essays
  • Optional writing sample (maximum 10 pages)

If your application is incomplete on the application deadline, it will not be considered for admission.

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 PhD 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 PhD 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 the PhD Program Guidebook.

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Begin Your PhD Journey

The first step in joining our PhD Program is to apply for admission.

Start Your PhD Application

Contact Us

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

Phone: 773.702.7298
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