getting into a finance phd at uchicago is very hard. ditto for comparable instituions. i dont know about uchicago much, but the admission rate is probably 1-2% or somethign on that range. also keep in mind that people who apply usually think they have a decent shot, so it's usually good applicants. i would say you need to have a stron quant background, with a major in mathematical economics/math/applied math/engineering with a lot of math. a solid gpa (3.9 and above). the gre's don't matter much, because everyone has a 800M/6A. you can apply to lower tier schools like ohio's fisher school.. i'm sure its damn competitive in finance there too, cos ppl who dont get into uchicao, mit, columbia, wharton, stanford will apply there too. i guess other second tier ones are ucla, duke, usc, michican, unc, etc. don't know about htese much, you'll need to look at their websites and faq sections. the other business disciplines, like marketing, accounting, management might be alittle easier.