Statement of Purpose: PhD Program in Finance
I have a nice job with incredible advancement opportunities. I do enjoy productive work experiences. In my current job, the employer recognizes and lauds my finance and economics skills. In addition to that, I receive token of appreciations from my supervising managers, I enjoy intellectual relationships with my PhD associates and have many good friends. But I feel I have not yet reached my destination where I want to be. Indeed, my colleagues and friends are surprised by my choice to leave my well-paying job for further studies, but I have to pursue and achieve my high school career dream: research and teaching. The present career falls short of my long term goal of teaching, and carrying out research. Money and excellent career are not the only things that give me a sense of satisfaction, I am also driven to contribute to the community and my specialization and I would be able to achieve this after earning a PhD. I want to use my position as a lecturer to hone talents, and nurture new crop of scientists. Besides transferring curriculum knowledge, I like to inspire others.
I gained solid background in finance and economics in my undergraduate studies and got exposed to theories and concepts of finance. I learned about the application of concepts of economics in finance and the essential of math in finance. The interest in finance motivated me to learn more. I have realized how much I stand to benefit from advancing my studies. While I have heard many say that it is not worth it to sacrifice assured career advancement for unessential training, I am fully convinced this is the right decision I have ever made. I know and understand myself better that I gain greater fulfillment by pursuing a PhD program in Finance than by advancing and earning a huge salary in my current career.
The thirst for learning provides me with a sense of fulfillment and satisfaction. My desire to learn more is driven by the search for knowledge to learn more and motivated by the challenge presented in learning. A PhD program in Finance will offer me the opportunity to continue in my search for knowledge.
My decision to attend a PhD program emerges from the realization that both my undergraduate and graduate studies were only starting points and stepping stone respectively in learning important financial and economics skills. Though my finance and economic education, has laid the foundation in the quest for knowledge and enabled me to understand technical elements of finance, still I lack the analytical and critical skills in the application of finance theories. I want to be able to use my finance knowledge to comprehend corporate finance, portfolio management, asset pricing, the behavior and structure of financial markets, financial decision making and international finance. The PhD program in Finance gives me a strong foundation in the empirical and theoretical tools of finance.
I chose finance because I want to use it to understand how human behavior is reflected in financial markets. It is easy to explain the notion of minimizing risks and maximizing returns but also amazing to explain asset pricing and evaluation. There is no denying that modern innovations and research in theories of saving and portfolio choice have incredibly influenced the methods of asset pricing used by policy makers and researchers. I believe the PhD program would enable me to analysis markets and financial institutions, which are core to understanding the tradeoffs between modern economic systems and their ramifications for financial crisis and fragility. I would like to learn about various economic variables like interest rates, inflation and currency returns.
My goal in attending a PhD program is to acquire applicable research capabilities and theoretical knowledge at a higher rank. One line of finance I would like to pursue is international finance. The inclination towards the global economy and promotion of free trade has opened up enormous opportunities to innovate newer methodologies, instruments and tools in the finance management. For this reason, I want to gain in-depth knowledge so that I could develop analytical approaches and methods to finance management.
In research, the area I would like to focus on is the financial market development, especially of emerging markets of developing countries. I hope to learn how finance theories apply to the market behavior of the least developed countries and also to explore alternative theoretical frameworks to account for such behavior.
With my strong background and training in mathematics, statistics and economics, these quantitative disciplines give me a perfect background to pursue PhD in Finance. I strongly hope that the PhD program would give me the knowledge I long for to understand finance theories and concepts, which I would incorporate in my research and teaching career. Through determination and commitment, I believe I would succeed in the program.