Conference & Research Funding
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Connect with current students, alumni, and faculty from Questrom’s PhD Program.
Overview
PhD in Business Administration students are invited and welcomed to apply for conference and research funding in years 1-5. PhD in Mathematical Finance students are invited and welcomed to apply for conference funding in years 3-5, only after have passed all qualifying exams.
Each academic year there are four funding cycles deadlines, September 1st, December 1st, March 1st, and June 1st. Applications will be accepted up until 5PM on the 1st of each cycle month.
Prior to applying for funding, review the funding guidelines and spending policies. In your funding proposal you will be required to upload a faculty support letter to your online application. Be sure to allow faculty three weeks to write this letter. Please, never pay out of pocket for research until you have discussed with the Specialty Master’s and PhD Center the appropriate method for payment. We cannot guarantee you will be reimbursed for unauthorized out of pocket spending.
In order to be reimbursed for out of pocket expenses, the reimbursement form must be submitted within 20 days of conference travel, and every 90 days for research-related expenses. The university has rigid policies on how funds can be spent, and they vary depending on the type of spending. Prior to submitting your proposal, or using funds, students are advised to review the spending policies each cycle, as there may be changes, and the university cannot guarantee reimbursement for funds used incorrectly.
PhD in Business Administration
During a student’s first year, the committee will fund reasonable travel requests to one conference, most likely one that is central to the student’s field without requiring the student to submit, author, or present a paper.
By a student’s second year, it is expected that students will be contributing to research projects in authoring roles. The committee will fund travel to a conference where a paper that is either solely or jointly authored by the student is being presented. The student need not be the presenter.
Third and fourth year students will receive conference travel funds for presenting research at conferences that is either sole or coauthored. The student must be a presenter to be eligible for funding. As a general rule the doctoral program can only fund one such conference trip per year. Any additional conferences should be funded from other sources.
As students enter the job search process, the committee is also willing to consider requests for attendance at conferences where interviews are scheduled and consortiums allow them to make substantial contacts that will lead to successful placement. Travel related support may be extended for job-market related conferences, particularly in cases where the student is scheduled to present their research at such a conference.
Conference travel proposals must be submitted before travel commences. Proposals are reviewed four times per year: September 1st, December 1st, March 1st, and June 1st. Decisions are typically made within two weeks of those dates. Longer term projects can be designed, but will be funded semester by semester, subject to research progress.
In order to be reimbursed for out of pocket expenses, the Reimbursement Form must be submitted within 20 days of travel.
PhD in Mathematical Finance
PhD in Mathematical Finance Students may apply for funding in their third year, if all qualifying exams have been passed.
Third and fourth year students will receive conference travel funds for presenting research at conferences that is either sole or coauthored. The student must be a presenter to be eligible for funding. As a general rule the doctoral program can only fund one such conference trip per year. Any additional conferences should be funded from other sources.
As students enter the job search process, the committee is also willing to consider requests for attendance at conferences where interviews are scheduled and consortiums allow them to make substantial contacts that will lead to successful placement. Travel related support may be extended for job-market related conferences, particularly in cases where the student is scheduled to present their research at such a conference.
Conference travel proposals must be submitted before travel commences. Please note that in order for your proposal to be considered you need to submit ALL required materials on time by the deadline specified with appropriate supporting documentation (faculty support letter, IT approvals if applicable, etc.). It is imperative that all of these materials be submitted together on or before the deadline as we will not be able to accepted partially complete proposals. Decisions are typically made within two weeks of the proposal deadline.
Faculty often travel and have many demands placed on their time. Since the faculty support letter is an integral part of this process, it requires some advance planning, so please give sufficient notice to the faculty member whom you’d like to write this for you (3 weeks is recommended).
In order to be reimbursed for out of pocket expenses, the Reimbursement Form must be submitted within 20 days of travel.
PhD in Business Administration
The committee will fund doctoral students’ efforts to launch original, independent primary research where the student is the Principal Investigator (PI). These funds can be used to collect primary data and for the limited processing of that data. Students are responsible for keeping records of their spending transactions, and must submit a report once the funds have been exhausted or expired. Research-related expenses must be submitted every 90 days.
The committee is interested in supporting doctoral students who take the initiative to collect novel primary source data and will fund these activities at 100% if funds are available, traditionally up to $2,000. This could include data gathering activities such as designing web surveys, purchasing data sets, running experiments, and conducting interviews. A Questrom faculty member must co-sponsor the grant request.
Some data collected may need additional processing before analysis can begin. This would include the transcription of interviews and programming (web screen scraping, text searching, software coding) needed to create or clean data sets for analysis. This type of activity will be funded at 50%, if funds are available. The logic is that it is a good idea for students to gain some understanding of the mechanics behind this type of work before they graduate from the program.
This is a 5 year program. Funding for research in the 6th year is a low priority for the program office.
Further funding for research or conference attendance will not be considered until a full report is received on the disposition by the approved budget by line item and a report on the project including papers and presentations resulting from the work, how it helped the professional development of the student and how it will lead to further work in the defined area.
Approved funds are good for six months. The student will forfeit funding if it is not used in that time frame and it is non-transferable to another project without the committee’s approval. If the timeline of the project and/or the expenditures are anticipated to vary substantially from the approved project, the student should contact the Specialty Master’s and PhD Center to discuss process for seeking approval.
In order to be reimbursed for out of pocket expenses, the Reimbursement Form must be submitted within 20 days of travel.
All expenses, regardless of how they are paid (reimbursement to you, payment of an invoice directly to a vendor, payment through requisition, paycheck to an employee, etc.), will be deducted from your research funding budget. You must keep track of all expenses incurred and track it against the total money you were granted by the PhD Program. Once the amount of funding that you were granted has been spent, you will not be granted additional monies. Should you find yourself in this situation, you may apply in the next round of funding applications (September 1st, December 1st, March 1st, June 1st) for additional funding, but you will need to explain why funds beyond that which you were originally approved are now necessary. This additional funding is not guaranteed, and is contingent upon the Committee’s approval of your new proposal.
PhD in Mathematical Finance
Mathematical Finance PhD students are welcome to apply, however funding is limited and will be determined on a case-by-case basis.
Application Requirements
There are four funding cycles each academic year; September, December, March, and June. Applications will be accepted up until 5PM on the 1st of each cycle month.
In order for your proposal(s) to be considered you must submit ALL required materials on time by the deadline specified with appropriate supporting documentation (faculty support letter, IT approvals if applicable, etc.). It is imperative that all of these materials be submitted together on or before the deadline as we will not be able to accept partially complete proposals. Faculty often travel and have many demands placed on their time, and since the faculty support letter is an integral part of this process, it requires some advance planning. Please give sufficient notice to the faculty member whom you’d like to write this for you (3 weeks is recommended).
You may apply for funding for conferences no more than 6 months in advance of the dates of the conference for which you plan to use the funding.
April 2023 Update:
*Research funding is available for use within six months. If your award is not fully used after six months, it will go back into the pot to be made available for others.
*Soft caps
- $2,500 per student per cycle
- $1,000 for research funding per cycle
- $2,000 for conference funding per cycle
Reimbursement Form
In order to be reimbursed for out of pocket expenses this form must be submitted within 20 days of conference travel, and every 90 days for research-related expenses. Prior to submitting your proposal, or using funds, students are advised to review BU’s PhD Student spending policies, below, as there may be changes, and the university cannot guarantee reimbursement for funds used incorrectly.
Prior to uploading your receipts, please make sure there is only one file per transaction (combine itemized, proof of purchase, any additional materials), and label the file as DATE_EXPENSE_$$$.
PhD Research Funding Report
Please submit one form for each award/project. Further funding for research or conference attendance will not be considered until a full report is received within two weeks of the expiration of funds. This document is important for the PhD Program to reconcile our budget, so please use accurate dates and amounts. A copy of this submission will be sent to your academic advisor in the Specialty Master’s and PhD Center and your faculty advisor. Research funding expires six months from the award date, and is non-transferable.
Spending Policies Overview
You are responsible for tracking all expenses incurred against the total money you were awarded. If you are traveling to a conference for the first time or have been awarded research funding in any year, please contact the Specialty Master’s and PhD Center for an overview on the do’s and don’ts of spending prior to making any purchases. Please do not make any out of pocket purchases prior to meeting, as we cannot guarantee that they will be reimbursed.
Students will not be reimbursed for more than was awarded. Once the amount of funding that you were granted has been spent, you will not be granted additional monies. You may apply in the next round of research funding applications for additional funding, but you will need to explain why funds beyond that which you were originally approved are now necessary. This additional funding is not guaranteed, and is contingent upon the Committee’s approval of your new proposal.
Students requesting reimbursement will not be reimbursed for more than was awarded. In order to be reimbursed for out of pocket expenses, the reimbursement form must be submitted within 20 days of conference travel, and every 90 days for research-related expenses. The university has rigid policies, which are outlined below, on how funds can be spent, and they vary depending on the type of spending. Prior to submitting your proposal, or using funds, students are advised to review the spending policies each cycle, as there may be changes, and the university cannot guarantee reimbursement for funds used incorrectly.
Please note that when purchasing supplies or supply type items, Boston University will not reimburse you for tax. Please stop by the Specialty Master’s and PhD Center to pick up the necessary tax-exempt forms before purchasing these items. If you will be purchasing poster material at a conference, this applies.
Funds are Non-Transferable
Our policy is that funds are approved for a specific conference and may not be used for other conferences or research expenses without approval of the Doctoral Research Committee. In addition, you are expected to include a review of your participation, papers presented, symposium attended, etc. in your annual report due in August of each year.
Coming in Under or Over Budget
The Dean’s office provides the PhD Program a set amount of money to support PhD students attending conferences and for research. Our students do a fabulous job keeping costs low, spending wisely, and not spending too much on meals and travel/research expenses. BU does not keep leftover funds if you come in under budget. That money just goes back into the conference/research fund and frees up more money to support you.
If you submit a reimbursement request for more than you were awarded, you will be reimbursed only up to the amount you were awarded.
Funding Report
Students who have received conference funding are expected to include a brief summary of any conference participation, papers presented, symposium attended, etc. in their reimbursement request. In addition, at the end of each academic year, you will complete annual report due in August.
Upon expiration or exhaustion of funds, students who have received research funding are expected to submit a PhD Research Funding Report to report the results of their research, and document their spending. We are particularly interested in the presentations you were able to make and papers submitted based on this research.
Air Travel
Students should purchase airfare at the lowest cost in economy seating. BU is unable to reimburse for in-flight wifi, upgrades, or additional baggage fees above one bag. You will be reimbursed for your flight upon return from travel once you submit your reimbursement form and it is processed by the University. If you are unable to purchase your flight due to financial restraints, please contact us in the Specialty Master’s and PhD Center.
Air travel is reimbursable for economy airfare only and traveler should use best efforts to ensure that all airfare bookings are completed at least 14 days prior to scheduled trip departure. If you choose to purchase travel insurance, you may pay out of pocket, but the university will not reimburse for this expense.
The traveler is personally responsible for airline upgrade fees. A traveler who is requesting an exception due to a medical issue must submit supporting medical documentation to the Boston University Occupational Health Center, which will provide a recommendation on the request to the Provost or President for final determination.
The University will not reimburse or pay for a flight that is purchased with a traveler’s own rewards (i.e. Frequent Flier Miles). The use of reward miles should not impact a traveler’s choice of airline for booking travel, when other equivalent air travel options present lower cost alternatives to the University. Reward miles may be used to upgrade a flight purchased for University travel beyond economy airfare. The use of these reward miles will not be reimbursed. Read BU’s full travel policy.
Accommodations
Students should enter the shared rate of the conference hotel in your proposal. Students will be reimbursed up to the amount listed in your original proposal, no matter where you stay. For example, if the single and shared room are the same, or you stay at a less expensive hotel, or you find an AirBnB you will be reimbursed up to the amount entered in your proposal.
The school will reimburse accommodation up to the cost calculated based on shared hotel room in the conference area. For accommodations purchased with your own credit cards or cash, please save the receipts that indicate the total cost as well as an indication of the payment you made. For example, please do not submit an initial hotel bill that simply shows the reservation; you must submit a bill that shows not only the charges, but your payment of said charges. In addition, the hotel receipt must show the individual charges per day, which typically include daily rate, taxes and additional fees.
Meals
One area that is particularly problematic is the failure to include ITEMIZED (rather than just the credit card slip) receipts for meals. Travelers must submit BOTH original itemized receipts and proof of payment (credit card slip). If another person is included on the meal receipt, please indicate the name, business relationship and purpose. The Dean’s office has told us they will not reimburse for meals that do not include an itemized receipt. Hotel room service may be used only in cases where the restaurants are closed/not close to the hotel. See the next FAQ for questions relating to alcohol.
Please check to determine if gratuity has already been added to bill. The Program expects students to budget within reason to their approved daily breakdown from their per diem proposal breakdown. Meal costs should not exceed $20 breakfast; $30 lunch; $50 dinner — restaurants should be chosen accordingly. Refer to these per diem guidelines when building the budget in your proposal.
Alcohol
Alcohol at breakfast or lunch will not be reimbursed by the university. The university will reimburse one drink per person with a meal. Bar tabs are not a reimbursable expense. Some students have asked if it is ok to have meals at a bar/pub. This is fine if a bar or pub serves food, however similar to above, we require an itemized receipt showing each individual item purchased, which should include a meal.
Ground Transport
You must save all receipts that indicate the total cost and proof of payment purchased with your own credit cards or cash, for gas, taxi rides, or any other travel-related expenses you incur for which you have been approved as a part of your funding proposal. In order to provide more funding for more conferences to you and your colleagues, it is encouraged that public transport is taken when available.
Travel or Car Insurance
Students are NOT included in the university’s liability insurance unless a university employee has booked the rental on their behalf and added the student as an additional driver. Because of this, guest account reports for students that include car rental insurance will no longer be returned by Questrom or the travel office. View the latest information on car rental insurance policies.
Foreign Transaction Fees
You may submit a bank statement with your reimbursement request to be reimbursed for these fees. Please mark out any personal information, such as accounting numbers.
Software or Hardware
If you have been awarded research funding, contact the Specialty Master’s and PhD Center for an overview on the do’s and don’ts of spending prior to making any purchases, as we cannot guarantee that they will be reimbursed.
Software or hardware must be purchased through Questrom IT. You will not be reimbursed for out of pocket purchases, even if these were made before you received your award.
Purchases at BU Offices
Prior to making purchases at BU offices that charge a fee (the Questrom Copy Center, for example), you should contact the Specialty Masters and PhD Center for instructions.
Outside Vendors (transcriptionists, data coders, etc.)
If you have been awarded research funding, contact the Specialty Master’s and PhD Center for an overview on the do’s and don’ts of spending prior to making any purchases, as we cannot guarantee that they will be reimbursed.
If you plan to use an outside vendor for something such as transcription, you must speak with the Specialty Master’s and PhD Center prior to entering into an agreement with the vendor. This way, we can walk you through the process (outlined below).
If you wish to hire a person or company outside of BU for services such as transcription, data coding, etc., they must be formally set up as a vendor so that they are paid directly by Questrom. You should not pay these individuals or companies directly with the intention of turning in a receipt for reimbursement. There are some transcriptionists and data coders already set up as BU vendors. Contact the Specialty Master’s and PhD Center to determine whether there is an appropriate vendor already set up. We can tell you what vendors students have used in the past. If an acceptable vendor is not already set up, we will initiate the process of setting up an appropriate company as a BU vendor. The vendor will first be asked to complete BU’s online supplier registration survey, and they will need to be pre-approved by the university before entering into a contract with BU.
Please note that setting up a new BU vendor can be a complicated and time-consuming process that must go through several offices at BU, so we strongly encourage students to use already established vendors if at all possible. In order to start using an outside vendor, you must request a quote from the vendor (including a cost estimate and a description of the work to be completed) and submit it to the Specialty Master’s and PhD Center. These must be set up in the system before work begins. Upon completion of work and for the vendor to receive payment, they must provide you with an invoice, which you should submit to the Specialty Master’s and PhD Center. Invoices will be paid directly by the Questrom.
Payments to Research Subjects
Please visit the BU subjects payments page to review the guidelines. In addition, there are specific rules for using the PhD Program budget to pay research subjects, so please contact the Specialty Master’s and PhD Center to learn more prior to spending any funds.
Amazon Mechanical Turk
If you have been awarded research funding, contact the Specialty Master’s and PhD Center for an overview on the do’s and don’ts of spending prior to making any purchases, as we cannot guarantee that they will be reimbursed.
Per BU policy, all Amazon Mechanical Turk funds must be paid using a BU PCard. Students will not be reimbursed for out-of-pocket spending. Once you have received your award, please contact us in the Specialty Masters and PhD Center to load your MTurk account with a PCard. The full amount estimated in your proposal will be paid during this meeting, and is available to use for six months from the award date. Keep in mind that should you pre-pay more than is used, you will owe the university the difference. Please provide at least one-week notice to the Specialty Master’s and PhD Center for this meeting in the case that we are out of the office or cannot meet with you immediately due to other priorities.
Once your prepayment has been purchased using the PCard, you will receive a confirmation receipt – please forward this to the Specialty Master’s and PhD Center for their records. When you meet with a staff member, you will be asked to login to your personal Amazon shopping account and, if applicable, to remove the credit card from your account. After all funds have been used, students are required to submit a research report, which will ask you to verify that you’ve used the entirety of the pre-paid amount. If there is a different in the pre-payment amount, and the total number of HITS, you will be required to submit payment to BU for the difference.
Hiring a Research Assistant
If you have been awarded research funding, contact the Specialty Master’s and PhD Center for an overview on the do’s and don’ts of spending prior to making any purchases, as we cannot guarantee that they will be reimbursed.
If you would like use research funds to hire a research assistant, you must contact the Specialty Master’s and PhD Center to get the most recent Student Assistantship Form. When completing this form, please make sure to:
- write both your name, and a faculty member’s name on the Professor/Department line;
- have your faculty advisor listed and sign as the Supervisor;
- have the PhD Program Director listed and sign as the Department Authorization;
- make sure to fill in all fields.
Once this is completed, the Specialty Master’s and PhD Center will add the Account/Cost Center number and submit this form.
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