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SUBJECT LEAGUE TABLE 2025

Accountants record, classify, summarise, interpret, and communicate a business’s financial information. Our Accounting & Finance university rankings are a list of the best universities for Accounting & Finance in the UK and include Banking, Financial Risk, and Investment courses. You can use the various filters on our Accounting & Finance league table to find courses based on the factors you find important. You can search by region, entry standards, student satisfaction, graduate prospects, and more. You can then compare your search results and decide which Accounting & Finance courses you'd like to apply for.

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• 1 2 3 4 5 4 6 1 7 1 8 3 9 1 10 11 1 12 1 13 14 15 1 16 2 17 3 18 3 19 20 3 21 22 1 23 1 24 1 25 1 26 4 27 2 28 2 29 1 30 3 31 32 9 33 34 2 35 3 36 2 37 5 38 2 39 1 40 3 41 2 42 6 43 2 44 45 2 46 47 6 48 16 49 3 50 51 4 52 3 53 5 54 8 55 1 56 2 57 3 58 7 59 4 60 14 61 4 62 19 63 2 64 7 65 25 66 9 67 32 68 5 69 9 70 11 71 2 72 4 73 7 74 4 75 8 76 4 77 4 78 1 79 7 80 5 81 8 82 83 7 84 4 85 8 86 7 87 2 88 10 89 6 90 6 91 92 4 93 1 94 95 4 96 1 97 3 98 3 99 2 100 13 101 1 102 1 103 1
• London School of Economics and Poli... VIEW COURSES University of Bath VIEW COURSES University of Warwick VIEW COURSES University of Glasgow VIEW COURSES Queen's University Belfast VIEW COURSES The University of Edinburgh VIEW COURSES University of Leeds VIEW COURSES University of Manchester VIEW COURSES University of Exeter VIEW COURSES University of Strathclyde VIEW COURSES King's College London, University o... VIEW COURSES Durham University VIEW COURSES City, University of London VIEW COURSES Loughborough University VIEW COURSES University of Bristol VIEW COURSES Newcastle University VIEW COURSES Lancaster University VIEW COURSES University of Liverpool VIEW COURSES Cardiff University VIEW COURSES University of Southampton VIEW COURSES University of Nottingham VIEW COURSES Heriot-Watt University VIEW COURSES University of Aberdeen VIEW COURSES University of East Anglia UEA VIEW COURSES University of Sheffield VIEW COURSES University of Birmingham VIEW COURSES University of Reading VIEW COURSES GET PROSPECTUS Ulster University VIEW COURSES University of Surrey VIEW COURSES Aston University, Birmingham VIEW COURSES Swansea University VIEW COURSES University of Dundee VIEW COURSES Queen Mary University of London VIEW COURSES University of Sussex VIEW COURSES Royal Holloway, University of Londo... VIEW COURSES Nottingham Trent University VIEW COURSES University of Stirling VIEW COURSES University of Kent VIEW COURSES Northumbria University, Newcastle VIEW COURSES University of Leicester VIEW COURSES Aberystwyth University VIEW COURSES SOAS University of London VIEW COURSES University of Portsmouth VIEW COURSES Liverpool John Moores University VIEW COURSES Glasgow Caledonian University VIEW COURSES University of Chester VIEW COURSES Keele University VIEW COURSES Liverpool Hope University VIEW COURSES Manchester Metropolitan University VIEW COURSES University of Worcester VIEW COURSES University of Lincoln VIEW COURSES University of Plymouth VIEW COURSES University of Bradford VIEW COURSES University of Hull VIEW COURSES University of Essex VIEW COURSES Bristol, University of the West of ... VIEW COURSES Oxford Brookes University VIEW COURSES Robert Gordon University VIEW COURSES Bournemouth University VIEW COURSES Edge Hill University VIEW COURSES University of Hertfordshire VIEW COURSES Teesside University, Middlesbrough VIEW COURSES Brunel University London VIEW COURSES University of Salford VIEW COURSES University of Gloucestershire VIEW COURSES Cardiff Metropolitan University VIEW COURSES Bangor University VIEW COURSES University of Huddersfield VIEW COURSES Edinburgh Napier University VIEW COURSES Kingston University VIEW COURSES Leeds Beckett University VIEW COURSES Sheffield Hallam University VIEW COURSES University of Greenwich VIEW COURSES University of Westminster, London VIEW COURSES University of Brighton VIEW COURSES GET PROSPECTUS Birmingham City University VIEW COURSES University of Roehampton VIEW COURSES University of Buckingham VIEW COURSES Abertay University VIEW COURSES Coventry University VIEW COURSES University of Derby VIEW COURSES London South Bank University VIEW COURSES Canterbury Christ Church University VIEW COURSES De Montfort University VIEW COURSES University of Central Lancashire VIEW COURSES York St John University VIEW COURSES University of West London VIEW COURSES University of Bolton VIEW COURSES University of South Wales VIEW COURSES University of East London VIEW COURSES Middlesex University VIEW COURSES University of Winchester VIEW COURSES University of Northampton VIEW COURSES London Metropolitan University VIEW COURSES University of Wolverhampton VIEW COURSES University of Sunderland VIEW COURSES University of the West of Scotland VIEW COURSES University of Bedfordshire VIEW COURSES University of Chichester VIEW COURSES Solent University (Southampton) VIEW COURSES Anglia Ruskin University VIEW COURSES Staffordshire University VIEW COURSES Buckinghamshire New University VIEW COURSES
• 100% 98% 97% 96% 96% 96% 96% 95% 95% 95% 95% 95% 94% 94% 94% 94% 94% 93% 93% 93% 93% 93% 92% 92% 91% 91% 91% 91% 91% 90% 89% 89% 88% 88% 88% 88% 88% 88% 87% 87% 87% 86% 86% 85% 85% 85% 85% 85% 85% 85% 84% 84% 84% 84% 84% 84% 83% 83% 83% 83% 82% 82% 82% 82% 82% 81% 81% 81% 81% 81% 81% 81% 81% 81% 81% 81% 81% 81% 80% 80% 79% 79% 79% 79% 79% 79% 79% 78% 78% 78% 77% 76% 76% 76% 76% 75% 74% 74% 73% 73% 72% 71% 69%
• 80% 74% 75% 100% 73% 90% 71% 73% 68% 91% 75% 65% 68% 66% 69% 67% 62% 64% 67% 65% 68% 85% 79% 60% 62% 65% 60% 57% 58% 60% 56% 70% 67% 55% 58% 55% 77% 52% 63% 54% 53% 55% 52% 53% 78% 54% 50% 49% 56% 52% 51% 50% 51% 52% 51% 49% 47% 69% 48% 56% 49% 44% 52% 53% 53% 50% 45% 52% 64% 48% 50% 49% 50% 51% 45% 53% 46% n/a n/a 50% 47% 46% 44% 45% 51% 44% 48% 52% 48% 48% 45% 51% 46% 35% 42% 52% 56% 46% 49% 50% 41% 41% 30%
• 80% 76% 83% 75% 80% 73% 78% 76% 78% 78% 82% 81% 79% 79% 77% 79% 81% 83% 74% 77% 74% 74% 81% 76% 74% 74% 81% 85% 80% 79% 79% 86% 73% 77% 79% 82% 77% 78% 80% 75% 85% 68% 81% 83% 79% 82% 75% 84% 80% 85% 76% 83% 79% 82% 76% 77% 78% 85% 72% 90% 82% 82% 74% 80% 78% 76% 82% 71% 83% 82% 76% 74% 80% 75% 74% 80% 76% 80% 73% 81% 81% 76% 72% 77% 84% 77% 92% 81% 79% 82% 74% 79% 76% 81% 79% 75% 79% 74% 76% 61% 73% 70% 91%
• 89% 87% 88% 85% 77% 85% 86% 87% 87% 82% 87% 83% 88% 81% 80% 77% 85% 85% 83% 81% 79% 76% 74% 85% 81% 83% 79% 80% 83% 77% 76% 70% 83% 81% 78% 72% 75% 75% 70% 79% 65% 78% 76% 61% 67% 64% 69% 59% 77% 56% 70% 70% 76% 73% 76% 69% 69% 64% 65% 64% 70% 65% 68% 66% 54% 61% 73% 66% 63% 65% 56% 64% 70% 74% 68% 59% 73% n/a n/a 72% 59% 65% 63% 61% 67% 56% n/a 38% 57% 58% 79% n/a 30% 65% 65% n/a 54% n/a 44% n/a 79% n/a n/a
• 91% 89% 87% 81% 91% 84% 89% 86% 92% 85% n/a 85% 82% 87% 88% 86% 80% 74% 86% 75% 86% 79% 80% 79% 81% 78% 82% 81% 75% 75% 72% 69% 62% 71% 66% 66% 71% 76% 70% 71% 67% n/a 60% 67% 65% 73% 72% 59% 52% 68% 65% 62% 51% 62% 62% 66% 67% 53% 71% 58% 55% 73% 53% 49% 71% 54% 50% 61% 66% 62% 61% 62% 52% 56% 65% 46% 53% 71% 65% 56% 49% 41% 57% 57% 49% 67% 58% 71% 71% 48% 53% 66% 42% 58% 44% 60% 47% 51% n/a 45% 41% 48% n/a

This table was updated on 24 May 2024. 

Read the  University and subject tables methodology  to find out where the data comes from, how the tables are compiled and explanations of the measures used. 

All measures used to compile the tables are available on the full table view. Maximum scores for the measures: 

Overall score: maximum score of 1000 

Entry standards: no maximum score  

Student satisfaction: maximum score of 4 

Research quality: maximum score of 4 

Continuation: maximum score of 100 

Graduate prospects – outcomes: maximum score of 100 

Graduate prospects – on track: maximum score of 100 

The following institutions have courses in this subject but insufficient data to be included in the ranking:  

• - Birmingham Newman University
• - Leeds Trinity University
• - Plymouth Marjon University
• - University of York
• - University of the Highlands and Islands (UHI)
• - Wrexham University

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100 Best universities for Finance in the United Kingdom

Updated: February 29, 2024

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Below is a list of best universities in the United Kingdom ranked based on their research performance in Finance. A graph of 7.64M citations received by 325K academic papers made by 133 universities in the United Kingdom was used to calculate publications' ratings, which then were adjusted for release dates and added to final scores.

We don't distinguish between undergraduate and graduate programs nor do we adjust for current majors offered. You can find information about granted degrees on a university page but always double-check with the university website.

1. University of Oxford

For Finance

2. University of Cambridge

3. London School of Economics and Political Science

4. University College London

5. University of Manchester

6. University of Warwick

7. Imperial College London

8. University of Nottingham

9. London Business School

10. University of Edinburgh

11. University of Southampton

12. University of Leeds

13. University of Birmingham

14. University of Sheffield

15. King's College London

16. Durham University

17. University of Sussex

18. University of Reading

19. University of Bristol

20. Lancaster University

21. University of Glasgow

22. University of Strathclyde

23. City, University of London

24. Cardiff University

25. University of York

26. Newcastle University

27. University of Exeter

28. University of Leicester

29. University of East Anglia

30. Queen Mary University of London

31. University of Bath

32. Loughborough University

33. University of Essex

34. University of Liverpool

35. University of London

36. Brunel University London

37. University of St Andrews

38. Cranfield University

39. University of Aberdeen

40. Queen's University Belfast

41. University of Kent

42. University of Surrey

43. University of Wales

44. University of Stirling

45. Ulster University

46. Birkbeck, University of London

47. Swansea University

48. University of Bradford

49. Royal Holloway, University of London

50. University of Hull

51. University of the West of England

52. Aston University

53. University of Portsmouth

54. University of Dundee

55. University of Plymouth

56. Heriot-Watt University

57. Keele University

58. Northumbria University

59. University of Salford

60. Bangor University

61. De Montfort University

62. SOAS, University of London

63. Manchester Metropolitan University

64. University of Westminster

65. University of Huddersfield

66. Nottingham Trent University

67. Coventry University

68. Sheffield Hallam University

69. Middlesex University

70. University of Hertfordshire

71. Oxford Brookes University

72. Bournemouth University

73. Glasgow Caledonian University

74. University of Greenwich

75. Liverpool John Moores University

76. London Metropolitan University

77. Kingston University

78. Leeds Beckett University

79. Aberystwyth University

80. University of Brighton

81. London South Bank University

82. Edinburgh Napier University

83. University of South Wales

84. Goldsmiths, University of London

85. University of Lincoln

86. University of Wolverhampton

87. University of East London

88. Robert Gordon University

89. University of Central Lancashire

90. Staffordshire University

91. Teesside University

92. Anglia Ruskin University

93. University of the West of Scotland

94. Birmingham City University

95. University of Derby

96. University of Bedfordshire

97. Canterbury Christ Church University

98. University of Roehampton

99. University of Chester

100. University of Gloucestershire

The best cities to study Finance in the United Kingdom based on the number of universities and their ranks are Oxford , Cambridge , London , and Manchester .

Economics subfields in the United Kingdom

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PhD/ MPhil/ MSc Finance (Research)

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The PhD/MPhil/MSc in Finance comprises a short taught component followed by a longer research phase. Taught modules allow you to broaden, as well as deepen, your knowledge of research methods as well as conducting your own research and developing transferable professional skills.

The PhD programme in Finance will facilitate the creation and interpretation of new knowledge by the research student, demonstrated through the thesis. The taught component is designed to ensure that doctoral researchers understand the breath of techniques used in modern social science research.

Doctoral researchers will be capable of analysing a range of data using a range of qualitative and quantitative techniques. They will be able to explain theories underlying different approaches to social science research. Doctoral researchers are expected to participate to the fullest possible extent in the life of the Department of Finance and the Business School. This means attending seminars organised by the Department of Finance and more widely in the Business School thereby helping expose doctoral researchers to new ideas emanating from outside their own area of specialisation. It also requires actively participating in PhD workshops and conferences organised by the Department of Finance, the Business School and Graduate School as well as institutions outside the University of Birmingham.

Ultimately all doctoral researchers will have the ability to characterise and solve business and financial problems using advanced research tools. They should be able to derive policy implications from their research and communicate these to policy makers, practitioners and other academics in a manner which is comprehensible. They will also be able to peer review others’ research and offer constructive criticism; and to extend the frontiers of the discipline through their own innovative research.

Doctoral researchers may choose to become academics, work in Government, businesses, supranational organisations or in the research arms of major financial institutions. They are expected to achieve a substantial understanding of contemporaneous financial and business issues enabling them to take a lead in ongoing debates within society. They will be aware of and understand the function of related institutions at both a national and international level.

Fees 2024 - 2025

• Code: 021B - £4,778 (UK) PhD Full time
• Code: 022B - £2,389 (UK) PhD Part time
• Code: 021B - £23,520 (International) PhD Full time
• Code: 023B - £4,778 (UK) MPhil
• Code: 023B - £23,520 (International) MPhil
• Code: 045B - £4,778 (UK) MSc (Research)
• Code 045B - £23,520 (International) MSc (Research)

Learn more about fees and funding

Scholarships and studentships

A limited number of scholarships may be available to outstanding applicants. International students  can often gain funding through overseas research scholarships, Commonwealth scholarships or their home Government.

For further information contact the School directly or visit our helpdesk.

How To Apply

• How to apply

To apply for a postgraduate research programme, you will need to submit your application and supporting documents online. We have put together some helpful information on the research programme application process and supporting documents on our how to apply page . Please read this information carefully before completing your application.

Our Standard Requirements

The Business School's entry requirement is a good honours degree (first or upper second class honours) awarded by a recognised University in an appropriate subject, and a merit in a relevant Master’s degree. We usually ask students for an average of 65 in the taught component of their Masters. All international students also need to show that they have adequate knowledge of written and spoken English.

Learn more about our entry requirements.

Writing your research proposal

Along with your academic record, your references and your curriculum vitae your research proposal plays a critical role in the evaluation of your application.

Your research proposal should illustrate your ability to plan an independent research study and the relevance of your topic to the research interests and expertise of Birmingham Business School.You need to demonstrate that you understand the field that you plan to research, identify an interesting and original research question, and develop a tentative plan of study. It is highly desirable that your research proposal is written to the guidelines specified below.

Guidelines for the Research Proposal

When clicking on the Apply Now button you will be directed to an application specifically designed for the programme you wish to apply for where you will create an account with the University application system and submit your application and supporting documents online. Further information regarding how to apply online can be found on the how to apply pages.

International Requirements

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 14/20 from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of the Licenciado or an equivalent professional title from a recognised Argentinian university, with a promedio of at least 7.5, may be considered for entry to a postgraduate degree programme. Applicants for PhD degrees will normally have a Maestria or equivalent

Applicants who hold a Masters degree will be considered for admission to PhD study.

Holders of a good four-year Diplomstudium/Magister or a Masters degree from a recognised university with a minimum overall grade of 2.5 will be considered for entry to postgraduate research programmes.

Students with a good 5-year Specialist Diploma or 4-year Bachelor degree from a recognised higher education institution in Azerbaijan, with a minimum GPA of 4/5 or 80% will be considered for entry to postgraduate taught programmes at the University of Birmingham.

For postgraduate research programmes applicants should have a good 5-year Specialist Diploma (completed after 1991), with a minimum grade point average of 4/5 or 80%, from a recognised higher education institution or a Masters or “Magistr Diplomu” or “Kandidat Nauk” from a recognised higher education institution in Azerbaijan.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0 or 75% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a CGPA of 3.0-3.3/4.0 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Students who hold a Masters degree from the University of Botswana with a minimum GPA of 3.0/4.0 or 3.5/5.0 (70%/B/'very good') will be considered for Postgraduate Diplomas and Masters degrees.

Please note 4-year bachelor degrees from the University of Botswana are considered equivalent to a Diploma of Higher Education. 5-year bachelor degrees from the University of Botswana are considered equivalent to a British Bachelor (Ordinary) degree.

Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

A Licenciatura or Bacharelado degree from a recognised Brazilian university:

• A grade of 7.5/10 for entry to programmes with a 2:1 requirement
• A grade of 6.5/10for entry to programmes with a 2:2 requirement

Holders of a good Bachelors degree with honours (4 to 6 years) from a recognised university with a upper second class grade or higher will be considered for entry to taught postgraduate programmes.  Holders of a good Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Holders of a good post-2001 Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Students with a minimum average of 14 out of 20 (or 70%) on a 4-year Licence, Bachelor degree or Diplôme d'Etudes Superieures de Commerce (DESC) or Diplôme d'Ingénieur or a Maîtrise will be considered for Postgraduate Diplomas and Masters degrees.

Holders of a bachelor degree with honours from a recognised Canadian university may be considered for entry to a postgraduate degree programme. A GPA of 3.0/4, 7.0/9 or 75% is usually equivalent to a UK 2.1.

Holders of the Licenciado or equivalent Professional Title from a recognised Chilean university will be considered for Postgraduate Diplomas and Masters degrees. Applicants for PhD study will preferably hold a Magister degree or equivalent.

Students with a bachelor’s degree (4 years minimum) may be considered for entry to a postgraduate degree programme. However please note that we will only consider students who meet the entry guidance below.  Please note: for the subject areas below we use the Shanghai Ranking 2022 (full table)  ,  Shanghai Ranking 2023 (full table) , and Shanghai Ranking of Chinese Art Universities 2023 .

需要具备学士学位（4年制）的申请人可申请研究生课程。请根据所申请的课程查看相应的入学要求。 请注意，中国院校名单参考 软科中国大学排名2022（总榜） ，  软科中国大学排名2023（总榜） ，以及 软科中国艺术类高校名单2023 。  

Business School    - MSc programmes (excluding MBA)  

商学院硕士课程（MBA除外）入学要求

School of Computer Science – all MSc programmes 计算机学院硕士课程入学要求

College of Social Sciences – courses listed below 社会科学 学院部分硕士课程入学要求 MA Education  (including all pathways) MSc TESOL Education MSc Public Management MA Global Public Policy MA Social Policy MA Sociology Department of Political Science and International Studies  全部硕士课程 International Development Department  全部硕士课程

  All other programmes (including MBA)   所有其他 硕士课程（包括 MBA）入学要求

Please note:

• Borderline cases: We may consider students with lower average score (within 5%) on a case-by-case basis if you have a relevant degree and very excellent grades in relevant subjects and/or relevant work experience. 如申请人均分低于相应录取要求（5%以内），但具有出色学术背景，优异的专业成绩，以及（或）相关的工作经验，部分课程将有可能单独酌情考虑。
• Please contact the China Recruitment Team for any questions on the above entry requirements. 如果您对录取要求有疑问，请联系伯明翰大学中国办公室   [email protected]

Holders of the Licenciado/Professional Title from a recognised Colombian university will be considered for our Postgraduate Diploma and Masters degrees. Applicants for PhD degrees will normally have a Maestria or equivalent.

Holders of a good bachelor degree with honours (4 to 6 years) from a recognised university with a upper second class grade or higher will be considered for entry to taught postgraduate programmes.  Holders of a good Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Holders of a good Bacclaureus (Bachelors) from a recognised Croatian Higher Education institution with a minimum overall grade of 4.0 out of 5.0, vrlo dobar ‘very good’, or a Masters degree, will be considered for entry to postgraduate research programmes.

Holders of a Bachelors degree(from the University of the West Indies or the University of Technology) may be considered for entry to a postgraduate degree programme. A Class II Upper Division degree is usually equivalent to a UK 2.1. For further details on particular institutions please refer to the list below.  Applicants for PhD level study will preferably hold a Masters degree or Mphil from the University of the West Indies.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum overall grade of 6.5 out of 10, or a GPA of 3 out of 4, and will usually be required to have completed a good Masters degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bakalár from a recognised Czech Higher Education institution with a minimum overall grade of 1.5, B, velmi dobre ‘very good’ (post-2004) or 2, velmi dobre ‘good’ (pre-2004), or a good post-2002 Magistr (Masters), will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum overall grade of 7-10 out of 12 (or 8 out of 13) or higher for 2:1 equivalence and will usually be required to have completed a good Masters/ Magisterkonfereus/Magister Artium degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Holders of the Licenciado or an equivalent professional title from a recognised Ecuadorian university may be considered for entry to a postgraduate degree programme. Grades of 70% or higher can be considered as UK 2.1 equivalent.  Applicants for PhD level study will preferably hold a Magister/Masterado or equivalent qualification, but holders of the Licenciado with excellent grades can be considered.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0 or 75% from a recognised institution. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bakalaurusekraad from a recognised university with a minimum overall grade of 4/5 or B, or a good one- or two-year Magistrikraad from a recognised university, will be considered for entry to postgraduate research programmes.

Students who hold a Masters degree with very good grades (grade B, 3.5/4 GPA or 85%) will be considered for Postgraduate Diplomas and Masters degrees. 

Holders of a good Kandidaatti / Kandidat (old system), a professional title such as Ekonomi, Diplomi-insinööri, Arkkitehti, Lisensiaatti (in Medicine, Dentistry and Vetinary Medicine), or a Maisteri / Magister (new system), Lisensiaatti / Licenciat, Oikeustieteen Kandidaatti / Juris Kandidat (new system) or Proviisori / Provisor from a recognised Finnish Higher Education institution, with a minimum overall grade of 2/3 or 4/5, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a should hold a Bachelors degree and will usually be required to have completed a Masters/Maîtrise with a minimum overall grade of 13 out of 20, or a Magistère / Diplôme d'Etudes Approfondies / Diplôme d'Etudes Supérieures Specialisées / Mastère Specialis, from a recognised French university or Grande École to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Magister Artium, a Diplom or an Erstes Staatsexamen from a recognised university with a minimum overall grade of 2.5, or a good two-year Lizentiat / Aufbaustudium / Zweites Staatsexamen or a Masters degree from a recognised university, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/5.0 Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

Applicants for postgraduate research programmes should hold a good four-year Ptychio (Bachelor degree) with a minimum overall grade of 6.5 out of 10, from a recognised Greek university (AEI), and will usually be required to have completed a good Metaptychiako Diploma Eidikefsis (Masters degree) from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

4-year Licenciado is deemed equivalent to a UK bachelors degree. A score of 75 or higher from Universidad de San Carlos de Guatemala (USAC) can be considered comparable to a UK 2.1, 60 is comparable to a UK 2.2.  Private universities have a higher pass mark, so 80 or higher should be considered comparable to a UK 2.1, 70 is comparable to a UK 2.2

The Hong Kong Bachelor degree is considered comparable to British Bachelor degree standard. Students with bachelor degrees awarded by universities in Hong Kong may be considered for entry to one of our postgraduate degree programmes.

Students with Masters degrees may be considered for PhD study.

Holders of a good Alapfokozat / Alapképzés or Egyetemi Oklevel from a recognised university with a minimum overall grade of 3.5, or a good Mesterfokozat (Masters degree) or Egyetemi Doktor (university doctorate), will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a 60% or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of the 4 year Sarjana (S1) from a recognised Indonesian institution will be considered for postgraduate study. Entry requirements vary with a minimum requirement of a GPA of 2.8.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a score of 14/20 or 70% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree from a recognised institution, with 100 out of 110 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Students who hold the Maitrise, Diplome d'Etude Approfondies, Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees will be considered for Postgraduate Diplomas and Masters degrees (14-15/20 or Bien from a well ranked institution is considered comparable to a UK 2.1, while a score of 12-13/20 or Assez Bien is considered comparable to a UK 2.2).

Students with a Bachelor degree from a recognised university in Japan will be considered for entry to a postgraduate Masters degree provided they achieve a sufficiently high overall score in their first (Bachelor) degree. A GPA of 3.0/4.0 or a B average from a good Japanese university is usually considered equivalent to a UK 2:1.

Students with a Masters degree from a recognised university in Japan will be considered for PhD study. A high overall grade will be necessary to be considered.

Students who have completed their Specialist Diploma Мамаң дипломы/Диплом специалиста) or "Magistr" (Магистр дипломы/Диплом магистра) degree (completed after 1991) from a recognised higher education institution, with a minimum GPA of 2.67/4.00 for courses requiring a UK lower second and 3.00/4.00 for courses requiring a UK upper second class degree, will be considered for entry to postgraduate Masters degrees and, occasionally, directly for PhD degrees.  Holders of a Bachelor "Bakalavr" degree (Бакалавр дипломы/Диплом бакалавра) from a recognised higher education institution, with a minimum GPA of  2.67/4.00 for courses requiring a UK lower second and 3.00/4.00 for courses requiring a UK upper second class degree, may also be considered for entry to taught postgraduate programmes.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/50

Holders of a good Postgraduate Diploma (professional programme) from a recognised university or institution of Higher Education, with a minimum overall grade of 7.5 out of 10, or a post-2000 Magistrs, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a score of 16/20 or 80% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Bachelors degree from a recognised university in Libya will be considered for postgraduate study. Holders of a Bachelors degree will normally be expected to have achieved score of 70% for 2:1 equivalency or 65% for 2:2 equivalency. Alternatively students will require a minimum of 3.0/4.0 or BB to be considered.

Holders of a good pre-2001 Magistras from a recognised university with a minimum overall grade of 8 out of 10, or a good post-2001 Magistras, will be considered for entry to postgraduate research programmes

Holders of a good Bachelors degree from a recognised Luxembourgish Higher Education institution with a minimum overall grade of 16 out of 20, or a Diplôme d'Études Supérieures Spécialisées (comparable to a UK PGDip) or Masters degree from a recognised Luxembourgish Higher Education institution will be considered for entry to postgraduate research programmes.

Students who hold a Masters degree will be considered for Postgraduate Diplomas and Masters degrees (70-74% or A or Marginal Distinction from a well ranked institution is considered comparable to a UK 2.1, while a score of 60-69% or B or Bare Distinction/Credit is considered comparable to a UK 2.2).

Holders of a Bachelors degree from a recognised Malaysian institution (usually achieved with the equivalent of a second class upper or a grade point average minimum of 3.0) will be considered for postgraduate study at Diploma or Masters level.

Holders of a good Bachelors degree from the University of Malta with a minimum grade of 2:1 (Hons), and/or a Masters degree, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree (Honours) from a recognised institution (including the University of Mauritius) will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2:1).

Students who hold the Licenciado/Professional Titulo from a recognised Mexican university with a promedio of at least 8 will be considered for Postgraduate Diplomas and Masters degrees.

Students who have completed a Maestria from a recognised institution will be considered for PhD study.

Applicants for postgraduate research programmes should hold a Bachelors degree, licence or Maîtrise and a Masters degree, with a score of 14/20 or 70% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Students with a good four year honours degree from a recognised university will be considered for postgraduate study at the University of Birmingham. PhD applications will be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 60-74% or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Doctoraal from a recognised Dutch university with a minimum overall grade of 7 out of 10, and/or a good Masters degree, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree (minimum 4 years and/or level 400) from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/5.0

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum GPA of B/Very Good or 1.6-2.5 for a 2.1 equivalency, and will usually be required to have completed a good Masters, Mastergrad, Magister. Artium, Sivilingeniør, Candidatus realium or Candidatus philologiae degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a CGPA of 3.0/4 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Bachelors degree from a recognised university in the Palestinian Territories will be considered for postgraduate study. Holders of Bachelors degree will normally be expected to have achieved a GPA of 3/4 or 80% for 2:1 equivalency or a GPA of 2.5/4 or 70% for 2:2 equivalency.    

Holders of the Título de Licenciado /Título de (4-6 years) or an equivalent professional title from a recognised Paraguayan university may be considered for entry to a postgraduate degree programme. Grades of 4/5 or higher can be considered as UK 2.1 equivalent.  The Título Intermedio is a 2-3 year degree and is equivalent to a HNC, it is not suitable for postgraduate entry but holders of this award could be considered for second year undergraduate entry or pre-Masters.  Applicants for PhD level study will preferably hold a Título de Maestría / Magister or equivalent qualification, but holders of the Título/Grado de Licenciado/a with excellent grades can be considered.

Holders of the Licenciado, with at least 13/20 may be considered as UK 2.1 equivalent. The Grado de Bachiller is equivalent to an ordinary degree, so grades of 15+/20 are required.  Applicants for PhD level study will preferably hold a Título de Maestría or equivalent qualification.

Holders of a good pre-2001 Magister from a recognised Polish university with a minimum overall grade of 4 out of 5, dobry ‘good’, and/or a good Swiadectwo Ukonczenia Studiów Podyplomowych (Certificate of Postgraduate Study) or post-2001 Magister from a recognised Polish university with a minimum overall grade of 4.5/4+ out of 5, dobry plus 'better than good', will be considered for entry to postgraduate research programmes.

Holders of a good Licenciado from a recognised university, or a Diploma de Estudos Superiores Especializados (DESE) from a recognised Polytechnic Institution, with a minimum overall grade of 16 out of 20, and/or a good Mestrado / Mestre (Masters) from a recognised university, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised Romanian Higher Education institution with a minimum overall grade of 8 out of 10, and will usually be required to have completed a Masters degree/Diploma de Master/Diploma de Studii Academice Postuniversitare (Postgraduate Diploma - Academic Studies) or Diploma de Studii Postuniversitare de Specializare (Postgraduate Diploma - Specialised Studies) to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Диплом Специалиста (Specialist Diploma) or Диплом Магистра (Magistr) degree from recognised universities in Russia (minimum GPA of 4.0) will be considered for entry to taught postgraduate programmes/PhD study.

Students who hold a 4-year Bachelor degree with at least 16/20 or 70% will be considered for Postgraduate Diplomas and Masters degrees.   

Students who hold a Maitrise, Diplome d'Etude Approfondies,Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees will be considered for Postgraduate Diplomas and Masters degrees. A score of 14-15/20 or Bien from a well ranked institution is considered comparable to a UK 2.1, while a score of 12-13/20 or Assez Bien is considered comparable to a UK 2.2

Students who hold a Bachelor (Honours) degree from a recognised institution with a minimum GPA of 3.0/4.0 or 3.5/5.0 (or a score of 60-69% or B+) from a well ranked institution will be considered for most our Postgraduate Diplomas and Masters degrees with a 2:1 requirement.

Students holding a good Bachelors Honours degree will be considered for postgraduate study at Diploma or Masters level.

Holders of a good three-year Bakalár or pre-2002 Magister from a recognised Slovakian Higher Education institution with a minimum overall grade of 1.5, B, Vel’mi dobrý ‘very good’, and/or a good Inžinier or a post-2002 Magister from a recognised Slovakian Higher Education institution will be considered for entry to postgraduate research programmes.

Holders of a good Diploma o pridobljeni univerzitetni izobrazbi (Bachelors degree), Diplomant (Professionally oriented first degree), Univerzitetni diplomant (Academically oriented first degree) or Visoko Obrazovanja (until 1999) from a recognised Slovenian Higher Education institution with a minimum overall grade of 8.0 out of 10, and/or a good Diploma specializacija (Postgraduate Diploma) or Magister (Masters) will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor Honours degree (also known as Baccalaureus Honores / Baccalaureus Cum Honoribus) from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most Masters programmes will require a second class upper (70%) or a distinction (75%).

Holders of a Masters degree will be considered for entry to postgraduate research programmes.

Holders of a Bachelor degree from a recognised South Korean institution (usually with the equivalent of a second class upper or a grade point average 3.0/4.0 or 3.2/4.5) will be considered for Masters programmes.

Holders of a good Masters degree from a recognised institution will be considered for PhD study on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 7 out of 10 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 60-74% or a CGPA 3.30/4.0 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Kandidatexamen (Bachelors degree) or Yrkesexamen (Professional Bachelors degree) from a recognised Swedish Higher Education institution with the majority of subjects with a grade of VG (Val godkänd), and/or a good Magisterexamen (Masters degree), International Masters degree or Licentiatexamen (comparable to a UK Mphil), will be considered for entry to postgraduate research programmes.

Holders of a good "PostGraduate Certificate" or "PostGraduate Diploma" or a Masters degree from a recognised Swiss higher education institution (with a minimum GPA of 5/6 or 8/10 or 2/5 (gut-bien-bene/good) for a 2.1 equivalence) may be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0, 3.5/5 or 75% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bachelor degree (from 75% to 85% depending upon the university in Taiwan) from a recognised institution will be considered for postgraduate Masters study. Holders of a good Masters degree from a recognised institution will be considered for PhD study.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2.1) Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

Holders of a good Masters degree from a recognised institution will be considered for entry to our postgraduate research programmes.

Holders of a good Masters degree or Mphil from a recognised university will be considered for entry to postgraduate research programmes.

Students with a Bachelors degree from the following universities may be considered for entry to postgraduate programmes:

• Ateneo de Manila University - Quezon City
• De La Salle University - Manila
• University of Santo Tomas
• University of the Philippines - Diliman

Students from all other institutions with a Bachelors and a Masters degree or relevant work experience may be considered for postgraduate programmes.

Grading Schemes

1-5 where 1 is the highest 2.1 = 1.75 2.2 = 2.25 

Out of 4.0 where 4 is the highest 2.1 = 3.0 2.2 = 2.5

Letter grades and percentages 2.1 = B / 3.00 / 83% 2.2 = C+ / 2.5 / 77%

Holders of a postdoctoral qualification from a recognised institution will be considered for PhD study.  Students may be considered for PhD study if they have a Masters from one of the above listed universities.

Holders of a Lisans Diplomasi with a minimum grade point average (GPA) of 3.0/4.0 from a recognised university will be considered for postgraduate study at Diploma or Masters level.

Holders of a Yuksek Diplomasi from a recognised university will be considered for PhD study.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most Masters programmes will require a second class upper (2.1) or GPA of 3.5/5.0

Applicants for postgraduate research programmes should hold a good Bachelors degree / Диплом бакалавра (Dyplom Bakalavra), Диплом спеціаліста (Specialist Diploma) or a Dyplom Magistra from a recognised Ukrainian higher education institution with a minimum GPA of 4.0/5.0, 3.5/4, 8/12 or 80% or higher for 2:1 equivalence and will usually be required to have completed a good Masters degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

The University will consider students who hold an Honours degree from a recognised institution in the USA with a GPA of:

• 2.8 GPA (on a 4.0 scale) for entry to programmes with a 2:2 requirement 
• 3.2 GPA (on a 4.0 scale) for entry to programmes with a 2:1 requirement 

Please note that some subjects which are studied at postgraduate level in the USA, eg. Medicine and Law, are traditionally studied at undergraduate level in the UK.

Holders of the Magistr Diplomi (Master's degree) or Diplomi (Specialist Diploma), awarded by prestigious universities, who have attained high grades in their studies will be considered for postgraduate study.  Holders of the Fanlari Nomzodi (Candidate of Science), where appropriate, will be considered for PhD study.

Holders of the Licenciatura/Título or an equivalent professional title from a recognised Venezuelan university may be considered for entry to a postgraduate degree programme. Scales of 1-5, 1-10 and 1-20 are used, an overall score of 70% or equivalent can be considered equivalent to a UK 2.1.  Applicants for PhD level study will preferably hold a Maestria or equivalent qualification

Holders of a Bachelors degree from a recognised Vietnamese institution (usually achieved with the equivalent of a second class upper or a grade point average minimum GPA of 7.0 and above) will be considered for postgraduate study at Diploma or Masters level.  Holders of a Masters degree (thac si) will be considered for entry to PhD programmes.

Students who hold a Masters degree with a minimum GPA of 3.5/5.0 or a mark of 2.0/2.5 (A) will be considered for Postgraduate Diplomas and Masters degrees.   

Students who hold a good Bachelor Honours degree will be considered for Postgraduate Diplomas and Masters degrees. 

International Students

English requirements are IELTS 7.0 with no less than 6.5 in any band or equivalent.

Members of the Department of Finance can offer supervision within the following areas.

Corporate Finance

Capital structure decision making including interactions between corporate investment and dividend/capital structure decisions. Issues relating to capital structure and firm performance and the study of agency costs. The examination of corporate events such as  stock repurchases, corporate restructuring, mergers and acquisitions ,IPOs, delistings and financial distress & bankruptcy. Entrepreneurial finance, debt and equity gaps, venture capital and private equity, financial flexibility in firms and R&D smoothing.

Capital  Markets

Within the field of capital markets we can offer supervision which examines debt maturity, and a wide range of market microstructure topics including those relating to liquidity and liquidity risk, market architecture and the trading environment, as well as microstructure effects associated with the international cross-listing of securities.  The use of derivatives for risk management. Islamic Finance. Institutional investment, portfolio investment, risk and investment volatility

Financial Regulation and Corporate Governance

Corporate governance – including shareholder voting, engagement, stock lending, communication within the board of directors, and board behaviour and performance, executive compensation. Agency conflicts. The use of the interbank market as a regulatory device, Basel III and new rules for global finance,.

Banking and Financial Services

Doctoral researchers in Finance are registered for a full time 3-year PhD or a part-time 6-year PhD. In the first year of the programme doctoral researchers are required to take Econometrics with Financial Applications module from the Department of Economics (30 credit module). They also need to take at least one of the existing MSc Investments and MSc Accounting and Finance courses and one other module to successfully complete 60 credits of study. The MSc module and one other appropriate M or D level module should be chosen in agreement with the doctorial researcher’s supervisor, as appropriate for the their research topic.  Modules available include: Financial Modelling and Forecasting Techniques (20 credits), Empirical Topics in Accounting and Finance (20 credits) and Quantitative Methods in Finance (10 credits). Doctoral researchers are also recommended to take Advanced Training Modules from the MA Social Research Programme or other modules (e.g. Qualitative Methods) as appropriate to their research and training needs.

By the end of their first year doctoral students will have completed an 8,000 word research proposal that they will present and be evaluated on at the first annual review. This forms the basis for supervised research over the remaining two years of the programme and the production of an 80,000 word thesis.

Career prospects

PhD graduates from Birmingham Business School are working in central banks, Government departments, a variety of financial institutions, accountancy firms, supranational organisations and multinational corporations. Many of our PhD graduates also go on to forge successful academic careers in other top Universities.

Doctoral Research career assistance

The University of Birmingham has invested heavily in careers and employability support. The Careers Team have been praised for enhanced developments within their team and for adopting a model of integrated employability and internship support; something that has been rolled out and implemented across all Schools and Colleges at the University.

Doctoral researchers at Birmingham Business School benefit from its own well qualified dedicated Careers Team to support students with employment opportunities, work placements, internships and how to succeed at interview. In addition, a range of career management, personal development and employer events are run each year by the Careers in Business Team to help you make the most of the opportunities available.

The University also has dedicated careers advisors for international students  who run workshops and networking opportunities with potential employers. These are especially popular with international postgraduate researchers.

• Online chat events

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Accounting and Finance

• Entry year 2024
• Duration Full time 4 - 5 years

The Department of Accounting and Finance at Lancaster University Management School (LUMS) invites applications for PhD program in Accounting and Finance . You will be working alongside world-leading academics in a busy, exciting and innovative department.

We are looking for highly motivated candidates who have an excellent first degree and outstanding Master's level degree performance. Qualifications should be in a related discipline to your intended PhD studies. You should also be committed to pursuing an academic career. We are offering full-time studentships to commence in October 2024. All studentships pay a generous living allowance (the 2023 ESRC award was £18,622 per annum) and offer a fee waiver for four years.

The department offers an excellent research environment, with a high level of collegiality, subscriptions to state-of-the-art databases, a strong seminar series, and a senior visitors program. The Department of Accounting and Finance is one of the largest departments within LUMS – a world-ranked international business school that is highly regarded by the Financial Times, QS, The Economist and more. In the 2014 and 2021 Research Excellence Framework , LUMS was ranked first in the UK in research power and is one of few business schools whose programs are accredited by the three major international business school accreditation bodies: AMBA, EQUIS and AACSB.

The Department offers a PhD Program in Accounting and Finance. PhD students are required to complete a portfolio of PhD level courses and seminars covering finance theory, econometric and statistical methods, and research methodology. Upon successfully completing the coursework, you will then research and write a thesis on a topic which you are passionate about. Two subject experts will offer detailed supervision to ensure it will contribute new knowledge to the academic community. You will also have the opportunity to gain international experience by visiting a leading US/European school with expertise in a relevant research area. We offer an excellent environment for PhD studies, including dedicated office space, generous funding of conference and research visits, access to many specialised databases, as well as scientific computing facilities and IT support.

The Department has been consistently building the strength of a doctoral program for many years. It has developed comprehensive PhD training to enable our PhD graduates to succeed in the job market. Apart from training delivered by our own excellent faculty, our department regularly invites distinguished visiting professors from the best universities in the world to deliver doctoral tutorials on specialised research topics. Our PhD students have the privilege of being trained by world-leading scholars every summer and have extensive opportunities to consult external experts.

In recent years, our PhD graduates have successfully joined many excellent universities, research centres and institutions, including Australian National University, Bocconi University, Chinese University of Hong Kong, Durham University, LSE, Liverpool, Manchester, Monash, and Warwick Universities.

Your department

• Accounting and Finance Lancaster University Management School
• Make an enquiry form
• Telephone +44 (0)1524 592938

Research Excellence Framework 2021

Lancaster University Management School: 100% of research environment rated 'world-leading' and rated number 1 business school in the UK for 'research power' in REF 2021 .

Jackie talks about why she chose Lancaster University Management School for her PhD in Accounting and Finance

Programme structure

During your first year, you will be required to complete modules including accounting and finance theory, econometric and statistical methods and research methodology. Explore our module listings in the tabs below.

• PhD in Accounting
• PhD in Finance
• Research Training Seminars

Below is an overview of the modules you will study in your first year:

Below is an overview of the modules you will study in your first year.

There are two compulsory seminars in the first term which include an online test

• Ethics and Research

The Department of Accounting and Finance provides you with access to a number of leading financial databases. This valuable resource enables you to acquire crucial skills that are highly desirable to employers, making you stand out in the competitive job market.

For more information, please contact Justin Chircop

Entry requirements

Academic requirements.

A relevant Master's degree (UK or equivalent) with Distinction level performance, both overall and in the dissertation. In exceptional circumstances, applicants with an upper second class honours degree and relevant research experience may be considered.

If you have studied outside of the UK, we would advise you to check our list of international qualifications before submitting your application.

Additional Requirements

As part of your application you will also need to provide a viable research proposal of up to 5000 words which has potential to make a significant contribution to prior literature. Guidance can be found on our writing a research proposal webpage.

English Language Requirements

We may ask you to provide a recognised English language qualification, dependent upon your nationality and where you have studied previously.

We normally require an IELTS (Academic) Test with an overall score of at least 7.5 and a minimum of 6.0 in each element of the test. We also consider other English language qualifications .

If your score is below our requirements, you may be eligible for one of our pre-sessional English language programmes .

Contact: Admissions Team +44 (0) 1524 592032 or email [email protected]

Course structure

You will study a range of modules as part of your course, some examples of which are listed below.

Information contained on the website with respect to modules is correct at the time of publication, but changes may be necessary, for example as a result of student feedback, Professional Statutory and Regulatory Bodies' (PSRB) requirements, staff changes, and new research. Not all optional modules are available every year.

Our research seminars with external speakers attract leading academics that present their current research. Attending such seminars exposes participants to current research trends and allows them to expand their network. We encourage active student participation in seminars and their contact with seminar speakers. To facilitate better understanding of seminar papers, we will conduct regular pre-seminar meetings that are going to discuss in detail presented papers. The objective of pre-seminar meetings are:

• Facilitate better understanding of current research streams and presented papers;
• Provide a platform for exchanging ideas and opinions on current research streams;
• Help you provide informed feedback on presented research;
• Improve your writing skills and critical thinking;
• Further connect PhD students and our faculty by conducting regular meetings with different faculty members.

The course covers key theoretical areas of financial accounting research. It provides a crucial link to the literature for students seeking to strengthen the theoretical foundations of their empirical research. The underlying perspective is an economic one and implicitly assumes a stock market setting defines the corporate financial information environment.

By the end of the course, students will be able to understand four fundamental theoretical areas that underpin research in financial accounting, namely mandatory financial disclosure, voluntary financial disclosure, the politics of accounting regulation, and agency and contracting theory.

The course covers four topics as follows:

• The social value of (mandatory) financial disclosure
• Voluntary financial disclosure
• The role of regulation in accounting research
• Agency and contracting theory

This module is designed to introduce students to some of the core issues associated with empirical accounting research through the review of recent trends in accounting research. The module will discuss the importance of incremental contribution, basic research design issues, issues with analysing data and tabulating results, and extending extant research. The module will comprise a mixture of faculty-led lectures, interactive student-led presentations and discussions.

• Accounting conservatism
• Recognition vs. disclosure
• IFRS adoption
• Bank accounting
• Financial instruments and fair value accounting
• Economic consequences of financial reporting and disclosure

This is a module in accounting research for first-year doctoral students. The module comprises nine weekly sessions, each based on a published academic paper (or suite of papers). Each session involves a student-led discussion of the paper(s), with faculty providing a facilitating role for the discussion. The aim is to understand key research contributions, methods, and opportunities for further research.

• The determinants and consequences of accounting choice
• Various measures of earnings quality and their determinants and consequences
• Accounting anomalies and the use of accounting information in fundamental analysis
• The role of auditors as a corporate governance mechanism
• • The application of experimental methods to examine accounting issues
• • Understanding of behavioural theory in accounting research

The course covers various aspects of equilibrium asset prices in dynamic economies. The aims of this course are to introduce students to the main asset pricing theories that are fundamental to research development in finance and to provide an understanding of how asset pricing models are formally constructed.

On completion of this unit successful students will be able to have

• an understanding of key elements in the mainstream asset pricing theories,
• systematic knowledge in both implications of asset pricing models and empirical implementations.

Topics covered

• Utility preferences 2
• Mean-variance theory and the CAPM
• Stochastic discount factor
• Arrow-Debreu economy and state prices
• Dynamic programming
• Consumption-based asset pricing
• Production-based asset pricing.

This course takes place in the second term and builds upon the Manchester taught module AcF853, which is an advanced dominantly theoretical asset pricing course. Spillover effects from AcF851 Advanced Quantitative Methods are also anticipated.

In the first part of the module recent advances in cross-sectional asset pricing will be covered. This will include an empirical treatment of the classical asset pricing model and its extensions and related testing and model specification approaches. This part will cover the critical assessment of existing models in the light of risk-based and behaviour explanations as well as multi-factor models related to profitability and investment patterns across firms.

In the second part of the module will focus and the consumption-based model both from a theoretical and empirical perspective.

In the third part of the module asset pricing with option implied information will be covered. This includes the theoretical coverage, and understanding of the options data structure as well as the empirical implementation in advanced software packages.

The last part of the module will focus on mutual and hedge funds. This includes their performance evaluation and performance attribution from a mainly empirical perspective. Unique characteristics of hedge funds and various hedge fund strategies will be covered.

The topics covered in this module will be fine-tuned to the specific decomposition of each year's PhD student cohort.

This course is designed to help students understand how to operationalize empirical research on topics that are central to corporate finance. The overarching goal is to expose students to “state-of-the-art” empirical research methods and prepare them to conduct their own work using new tools. All students with an interest in finance, economics, accounting, human resources, and related disciplines are welcome to take the course.

The course will include:

• Endogeneity and Basic Identification Strategies
• Difference Estimators
• LATE and Regression Discontinuity Design
• Matching Estimators

This course introduces doctoral students to the knowledge and skills in empirical research on corporate finance. Topics include capital structure, corporate liquidity management, payout policies, and executive compensation. Selected papers in relevant literature will be discussed, with a focus on research ideas, data sources, and empirical methodologies. This course aims to help students identify and formulate research questions that may lead to dissertation topics.

After successfully completing the course students are expected to have:

• A broader knowledge of empirical research in corporate finance;
• A better understanding of how empirical techniques can be used to answer research questions in the areas covered in the course;
• More confidence in presenting and defending their own research;
• Formulate one research idea with concrete research agenda.

This course will cover econometric techniques on an advanced level that form the basis for quantitative and empirical research in Finance and Accounting. It will also cover the related necessary programming skills in advanced econometrics and statistical software packages such as MatLab and GAUSS. The course will start with covering two key areas: i) Generalized Methods of Moments and ii) Maximum Likelihood Techniques in a) time series models, b) multiple equations models and c) panel frameworks.

Depending on the composition of the students’ cohort additional advanced methods that will be covered in the course may include: Simulated Maximum Likelihood, Efficient Important Sampling, Indirect Inference, Bayesian Methods, High-Frequency Financial Econometrics, Point Processes, Count Data Models, Limited Dependent Variable models.

The success of developing and publishing accounting research critically depends on the knowledge of the data and programming skills to manage large datasets. The course will introduce students to key databases in accounting research, will train students how to use these data, and will develop students’ programming skills and applied econometrics. This module is designed to introduce students to the main research design choices and methods in empirical accounting research. The areas covered by the module include data collection and main financial databases, handling large datasets using STATA, analysing data and tabulating results. The module provides a broad overview of major data operations and statistical techniques used in accounting research and shows how to effectively program using STATA and other software packages. Further the module, introduces students to the Python and R programming languages.

This module covers the econometric theory and application of selected econometric methods. The first part (Weeks 1-5) covers Time Series Econometrics, Panel Data Econometrics and Financial Econometrics. The second part (Weeks 6-10) covers Panel Data extensions, Discrete choice models and Tobit models.

• Time Series Econometrics: Statistical Inference, Time Series Modelling, Modes of Convergence, Spurious regression, Nonparametric Methods
• Panel Data Econometrics: Pooled Regression, Fixed Effects/Random Effects, Dynamic Panel Models
• Introduction to Financial Econometrics: Asset Returns, Expectations, Volatility, ICAM, Realized Volatility, High-Frequency Methods
• Panel Data extensions: Endogeneity, IV estimation, Treatment effects, Diff-in-Diff estimators
• Discrete Choice Models: Binary models (Probit/Logit), Ordered Probit/Logit, Multinominal Probit/Logit
• Tobit and Selection Models

The Pilot study/Research proposal for the PhD scheme continues on from the research undertaken in the literature review and is the final preparation before their initial paper. It is intended to help provide the student to expand their knowledge of the appropriate theoretical and empirical literature and attempt to plan a project that would make an incremental contribution to the research area. This may consist of collecting an appropriate data set that will be analysed at a later date, or constructing a theoretical framework that can be built on at a later date.

The aim of this course is to equip students with the tools necessary to enable them to make the core investment management decisions that managers face on a daily basis as well as the knowledge as to where they can find the information necessary to apply those tools. This course covers fundamental concepts and key issues in factor investing; equilibrium theories of asset pricing; mutual funds, ETFs and hedge funds; Environmental, Social and Governance; textual analysis in empirical asset pricing.

This module is designed to provide students who have no or little programming experience with introduction to Python programming in the context of academic research and real-life problem solving in accounting and finance. This module aims to develop students’ interests and confidence in financial programming and analysing big financial data, and to equip students with programming skills and data-driven problem-solving abilities.

This module will enable you to understand the key concepts and methods in data science, econometrics, and quantitative finance to carry out independent empirical work required for the job market, more advanced modules in accounting and finance and the MSc dissertation streams.

Fees and funding

General fees and funding information

There may be extra costs related to your course for items such as books, stationery, printing, photocopying, binding and general subsistence on trips and visits. Following graduation, you may need to pay a subscription to a professional body for some chosen careers.

Specific additional costs for studying at Lancaster are listed below.

College fees

Lancaster is proud to be one of only a handful of UK universities to have a collegiate system. Every student belongs to a college, and all students pay a small College Membership Fee  which supports the running of college events and activities. Students on some distance-learning courses are not liable to pay a college fee.

For students starting in 2023 and 2024, the fee is £40 for undergraduates and research students and £15 for students on one-year courses. Fees for students starting in 2025 have not yet been set.

Computer equipment and internet access

To support your studies, you will also require access to a computer, along with reliable internet access. You will be able to access a range of software and services from a Windows, Mac, Chromebook or Linux device. For certain degree programmes, you may need a specific device, or we may provide you with a laptop and appropriate software - details of which will be available on relevant programme pages. A dedicated  IT support helpdesk  is available in the event of any problems.

The University provides limited financial support to assist students who do not have the required IT equipment or broadband support in place.

For most taught postgraduate applications there is a non-refundable application fee of £40. We cannot consider applications until this fee has been paid, as advised on our online secure payment system. There is no application fee for postgraduate research applications.

For some of our courses you will need to pay a deposit to accept your offer and secure your place. We will let you know in your offer letter if a deposit is required and you will be given a deadline date when this is due to be paid.

The fee that you pay will depend on whether you are considered to be a home or international student. Read more about how we assign your  fee status .

If you are studying on a programme of more than one year’s duration, tuition fees are reviewed annually and are not fixed for the duration of your studies. Read more about  fees in subsequent years .

Scholarships and bursaries

You may be eligible for the following funding opportunities, depending on your fee status and course. You will be automatically considered for our main scholarships and bursaries when you apply, so there's nothing extra that you need to do.

Unfortunately no scholarships and bursaries match your selection, but there are more listed on scholarships and bursaries page.

If you're considering postgraduate research you should look at our funded PhD opportunities .

We also have other, more specialised scholarships and bursaries - such as those for students from specific countries.

Browse Lancaster University's scholarships and bursaries .

Similar courses

• Accounting and Financial Management MSc
• Finance MSc
• Financial Management MSc
• Investment Management and Financial Analysis MSc

Find a PhD Topic

Discover the research interests of our academics to find a synergy with your desired area of research.

Studentships and Funding

Find out more about our range of options to help you fund your postgraduate studies.

Job market candidates

Our Accounting and Finance job market candidates are listed below. Please visit PhD Job Market Candidates for a full list of LUMS candidates.

For further details, please contact the Doctoral Office .

Accounting and Finance job market candidates

Mohamed Badawy

Adina Yelekenova

Centre for Financial Econometrics, Asset Markets and Macroeconomic Policy

Visiting PhD Scholars Program

Eligibility.

• The Visiting PhD Scholars program is intended for current doctoral students who are sufficiently fluent in English and proficient in their disciplines to make a positive contribution to the research culture of Lancaster University Management School (LUMS).
• Applicants must be doctoral students. Individuals who have already obtained their PhD are not eligible for this program.
• The Visiting PhD Scholars program and its requirements and procedures are subject to change without notice.

Visiting PhD Scholars are charged a registration levy of £500 for visits of up to 3 months.

For visits more than 3 months, visiting PhD Scholars are charged a tuition fee at the standard rate (e.g., £19,520 per year at the 2023/24 rate) or on a pro-rata basis. The department is a member of the EAA ARC International PhD Visit Scheme that provides funding for visiting PhD Scholars.

Application

In order to apply for this PhD Visiting Scholar Program, students must first find a LUMS faculty supervisor. A directory of Accounting and Finance faculty along with a description of their research interests and contact information can be found in the Faculty pages .

To be considered, applicants must submit the following documents to PhD Director in Accounting, Dr Justin Chircorp or PhD Director in Finance, Dr Chelsea Yao .

• Academic transcripts (including PhD coursework transcript)
• A request for a specific time to visit (begin date and end date)
• A brief statement (not to exceed two pages) written by the applicant explaining the purpose and goals of the visit, including the details of the research project that the applicant plans to work on while in Lancaster
• A recommendation letter from a faculty member at the applicant’s home institution.

Interested students should apply at least three months prior to the start of their intended visit.

=75th in the world for Accounting and Finance

Lancaster is ranked 13th in the UK and joint 75th in the world for Accounting and Finance according to the QS World Rankings by Subject 2024, one of 11 subjects at Lancaster to be featured in the top 100 in these prestigious listings.

Alumni Profiles

Jacqui Munro

PhD Accounting and Finance , 2019

PhD Accounting & Finance , 2018

Zhifang Zhang

PhD Accounting & Finance , 2017

PhD Accounting & Finance, 2016

Joana Cardoso Fontes

PhD Accounting & Finance, 2014

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Important Information

The information on this site relates primarily to 2024/2025 entry to the University and every effort has been taken to ensure the information is correct at the time of publication.

The University will use all reasonable effort to deliver the courses as described, but the University reserves the right to make changes to advertised courses. In exceptional circumstances that are beyond the University’s reasonable control (Force Majeure Events), we may need to amend the programmes and provision advertised. In this event, the University will take reasonable steps to minimise the disruption to your studies. If a course is withdrawn or if there are any fundamental changes to your course, we will give you reasonable notice and you will be entitled to request that you are considered for an alternative course or withdraw your application. You are advised to revisit our website for up-to-date course information before you submit your application.

More information on limits to the University’s liability can be found in our legal information .

Our Students’ Charter

We believe in the importance of a strong and productive partnership between our students and staff. In order to ensure your time at Lancaster is a positive experience we have worked with the Students’ Union to articulate this relationship and the standards to which the University and its students aspire. View our Charter and other policies .

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Your college will be your home away from home.

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Career support for our students through university and beyond.

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MRes/PhD Finance

• Graduate research
• Department of Finance
• Application code N4ZC
• Starting 2024
• Home full-time: Closed
• Overseas full-time: Closed
• Location: Houghton Street, London

This programme offers the chance to undertake a substantial piece of work that is worthy of publication and which makes an original contribution to the field of finance. You will begin on the MRes, and will need to meet certain requirements to progress to the PhD.

Our programme is unique in its integration of finance and economics. During the first year, you will take microeconomics, macroeconomics, and econometrics courses alongside PhD students in Economics. However, in the second year you will differentiate by taking advanced courses in asset pricing and corporate finance. You will leave with a broad understanding of finance and its relations to other fields in economics.

As one of the largest finance departments in the world, we are able to offer opportunities for research in virtually any field in finance. We have strengths in theory and empirics, asset pricing and corporate finance, as well as financial econometrics, behavioural finance, macro-finance, and microeconomic analysis of financial markets and institutions.

You are expected to participate in the regular departmental seminars (weekly), as well as occasional workshops and conferences given by internationally renowned speakers. This is viewed as an important part of the learning process on the MRes/PhD in Finance.

Programme details

For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.

Entry requirements

Minimum entry requirements for mres/phd finance.

Merit in a taught master's degree in finance, economics or another subject with a strong quantitative component.

Competition for places at the School is high. This means that even if you meet our minimum entry requirement, this does not guarantee you an offer of admission. 

If you have studied or are studying outside of the UK then have a look at our  Information for International Students  to find out the entry requirements that apply to you.

GRE/GMAT requirement

GRE or GMAT is required from all applicants (GRE is preferred)

Find out more about GRE/GMAT

Assessing your application

We welcome applications for research programmes that complement the academic interests of members of staff at the School, and we recommend that you investigate  staff research interests  before applying. However, please do not get in touch with faculty at this stage, 

We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:

• academic achievement (including existing and pending qualifications)
• statement of academic purpose 
• outline research proposal
• sample of written work.

See further information on supporting documents

You may also have to provide evidence of your English proficiency. You do not need to provide this at the time of your application to LSE, but we recommend that you do.  See our English language requirements .

When to apply

The application deadline for this programme is 25 April 2024 . However, to be considered for any LSE funding opportunity, you must have submitted your application and all supporting documents by the funding deadline. See the fees and funding section for more details.

Statement of Academic Purpose

Your Statement of Academic Purpose should clearly explain the below:

• Why you want to do research in finance
• How your studies and experience make you suitable to do research in finance

Research interests

Your Research Interests should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system.

• Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why? (max. 200 words)
• Tell us about your favourite paper in financial economics. What do you like about it? How would you improve it? (max. 400 words)
• Write a comment for a general audience on a topic/question that interests you in finance: (max. 400 words).
• Is CEO compensation excessive?
• Markets function well as information is aggregated efficiently through prices.
• What are the benefits of shareholder activism?

Fees and funding

Fees and funding.

Every research student is charged a fee in line with the fee structure for their programme.  The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees 2024/25 for MRes/PhD in Finance

Home students: £4,786 for the first year Overseas students: £22,632 for the first year

The fee is likely to rise over subsequent years of the programme. The School charges home research students in line with the level of fee that the Research Councils recommend. The fees for overseas students are likely to rise in line with the assumed percentage increase in pay costs (ie, 4 per cent per annum).

The Table of Fees shows the latest tuition amounts for all programmes offered by the School.

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification.

Scholarships and other funding

The School recognises that the  cost of living in London  may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.

This programme is eligible for  LSE PhD Studentships , and  Economic and Social Research Council (ESRC) funding . Selection for the PhD Studentships and ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.  

Funding deadline for LSE PhD Studentships and ESRC funding: 15 January 2024 Second funding deadline for LSE PhD Studentships: 25 April 2024

The Finance Department may also offer departmental scholarships.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas.  Find out more about financial support.

External funding 

There may be other funding opportunities available through other organisations or governments and we recommend you investigate these options as well.

Further information

Fees and funding opportunities

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students . 

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page). 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Programme structure and courses

Programme structure and courses.

A PhD in Finance from LSE consists of six coursework units, completed over two years, followed by a thesis which is usually expected to take a further three or four years.

We encourage our research students to participate fully in the intellectual life of the Department, and in the research seminar and workshop programmes of the Department and related research centres such as the Financial Markets Group (FMG). The weekly Capital Markets Workshops provide exposure to the work of leading academics from the UK and overseas. In addition, the FMG hosts a number of conferences each year with leading researchers and practitioners.

Students will normally commence in late August, by attending an introductory course before the start of the academic year.

Introductory Course in Mathematics and Statistics Provides students with the essential mathematical, statistical, economic and econometric background for the core Economics courses of these programmes.

During their first year, students take courses in Advanced Microeconomics, Advanced Macroeconomics and Advanced Financial Econometrics to build their core knowledge in these areas. They will also take two transferable skills courses which are not examined.

There is also the option to attend non-examined research workshops or seminars in finance given by faculty and internationally renowned scholars. Students also attend a PhD seminar in Finance throughout their MRes/PhD studies.

Microeconomics for MRes Students Introduces the basic analytical tools that are necessary to conduct research in any field in economics.

Macroeconomics for MRes Students Covers topics in advanced macroeconomics with emphasis on fundamentals and applications to recent theoretical advances.

Econometrics for MRes students Covers probability, mathematical statistics, and asymptotic theory, and theory and application of regression analysis. Provides a survey of the theory and application of time series methods in econometrics.

Financial Economics This non-examined course provides an in-depth introduction to the theories of asset pricing and corporate finance.

Capital Markets Workshop   

Second year

Students take courses in Corporate Finance and Asset Pricing, in addition to completing a research paper. They are also expected to attend research workshops or seminars in finance given by faculty and internationally renowned scholars.

Corporate Finance for Research Students The first half of this course focuses on the theory of corporate finance. The second half of the course will consider empirical research in corporate finance.  

Asset Pricing for Research Students Covers asset pricing theory, empirical asset pricing, as well as empirical evaluation of asset-pricing models.

Research Paper in Finance A research paper of between 6,000 and 8,000 words, related to your designated major field, to be submitted at the end of August of the second year.

PhD Seminar in Finance A seminar course for PhD students in the early stages of their research to present their work in progress.

Capital Markets Workshop

PhD programme

After meeting the progression requirements, students progress to PhD registration and begin to work on their thesis

For the most up-to-date list of optional courses please visit the relevant   School Calendar page. 

You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises. 

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s  Calendar , or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the  updated graduate course and programme information  page.

Supervision, progression and assessment

Supervision.

You will be assigned a lead supervisor (and a second supervisor/adviser) who is a specialist in your chosen research field, though not necessarily in your topic. Lead supervisors guide you through your studies.

Progression and assessment

To progress at the end of each year, students must pass their examined courses at grades specified by the Department and make satisfactory progress in their research. Progress is regularly monitored by the Department's Postgraduate Assessment Review Panel.

You will also need to meet certain criteria to progress to PhD registration, such as achieving certain grades in your coursework, and earning a minimum mark on your research paper.

Your final award will be determined by the completion of an original research thesis and a viva oral examination.

More about progression requirements.  

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.  

Department librarians   – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service  – they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders  – they will be able to assist with queries relating to specific courses. 

Disability and Wellbeing Service  – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as  student counselling,  a  peer support scheme  and arranging  exam adjustments.  They run groups and workshops.  

IT help  – support is available 24 hours a day to assist with all your technology queries.   

LSE Faith Centre  – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.   

Language Centre  – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.

LSE Careers  ­ – with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library   –   founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE  – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’). 

LSE Students’ Union (LSESU)  – they offer academic, personal and financial advice and funding.  

PhD Academy   – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice   – this   offers discounted private dental services to LSE students.  

St Philips Medical Centre  – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.

Student Services Centre  – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advisers   – we have a  Deputy Head of Student Services (Advice and Policy)  and an  Adviser to Women Students  who can help with academic and pastoral matters.

Student life

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective. 

Student societies and activities

Your time at LSE is not just about studying, there are plenty of ways to get involved in  extracurricular activities . From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from. 

The campus 

LSE is based on one  campus  in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community. 

Life in London 

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more. 

Want to find out more? Read why we think  London is a fantastic student city , find out about  key sights, places and experiences for new Londoners . Don't fear, London doesn't have to be super expensive: hear about  London on a budget . 

The programme is aimed at training students to become an academic. Students who successfully complete the programme often embark on a career in academic institutions, or international organisations such as central banks or the IMF. See a list of past placements.

Further information on graduate destinations for this programme

Support for your career

LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the  support available to students through LSE Careers .

Find out more about LSE

Discover more about being an LSE student - meet us in a city near you, visit our campus or experience LSE from home. 

Experience LSE from home

Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus.  Experience LSE from home . 

Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour.  Find out about opportunities to visit LSE . 

LSE visits you

Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders.  Find details on LSE's upcoming visits . 

How to apply

Virtual Graduate Open Day

Register your interest

Related programmes, mres/phd economics.

Code(s) L1U4

MSc Finance and Economics

Code(s) LN43

MPhil/PhD Statistics

Code(s) G4ZS

MRes/PhD Accounting (Accounting, Organisations and Institutions)

Code(s) N2ZD (AOI track)

MPhil/PhD Social Research Methods

Code(s) L9ZM

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Finance PhD

Key information.

• 1st  in the UK for annual research income in  2019-2022   (Chartered Association of Business Schools)
• 8th  in the UK for Economics and Finance (Research.com Best Universities by Discipline 2023)
• 8th  in the UK for citations in Business and Economics   (The Times Higher Education World University Rankings 2023)

Find solutions to the practical problems that market practitioners and policy-makers face.

You’ll work with researches who have strong academic backgrounds. Some also have significant industry experience, having held various roles in top-tier investment banks, hedge funds and relevant industries. Our research is mainly conducted within two research groups: 

• Our crossdisciplinary  Business Finance Research Group  focuses on corporate finance and governance in both public and private companies, as well the roles of private equity firms, banks and other financial intermediaries. The group publishes on areas such as financial misconduct, banking regulation, entrepreneurial finance and the impact of global crises on corporate finance. 
• Our Quantitative FinTech (QFin) research group includes experts in quantitative finance, FinTech and climate finance. The group collaborates with business and industry on numerous research initiatives with direct relevance to important problems in global financial markets. 

Both groups hold regular research seminars with internal and external speakers.

Find out more about research at the University of Sussex Business School

We expect successful applicants to be admitted to the Integrated PhD. This provides the rigorous research training you need to become a skilled practitioner. If you’re unsure which route to apply for, please apply for the Integrated PhD .

Accreditation

You’ll join the EQUIS and AMBA-accredited University of Sussex Business School. Learn more about all of our course accreditations here. Find out more

We understand that deciding where and what to study is a very important decision. We’ll make all reasonable efforts to provide you with the courses, services and facilities described in this prospectus. However, if we need to make material changes, for example due to government or regulatory requirements, or unanticipated staff changes, we’ll let you know as soon as possible.

Masters and P h D events

Meet us on campus or online

Book your place

Entry requirements

• UK requirements
• International requirements

Please select your country from the list.

Philippines

Saudi Arabia

South Africa

South Korea

Switzerland

United Arab Emirates

My country is not listed

If your country is not listed, you need to contact us and find out the qualification level you should have for this course. Contact us

English language requirements

Ielts (academic).

High level (6.5 overall, including at least 6.0 in each component).

IELTS scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course.  Find out more about IELTS

We accept IELTS One Skills Retake.

We do not accept IELTS Online.

Check full details of our English Language requirements and find out more about some of the alternative English language qualifications listed below

Alternative English language qualifications

Proficiency tests, cambridge advanced certificate in english (cae).

169 overall, including at least 162 in each skill.

We would normally expect the CAE test to have been taken within two years before the start of your course.

You cannot combine scores from more than one sitting of the test. Find out more about Cambridge English: Advanced

Cambridge Certificate of Proficiency in English (CPE)

We would normally expect the CPE test to have been taken within two years before the start of your course.

You cannot combine scores from more than one sitting of the test. Find out more about Cambridge English: Proficiency

LanguageCert Academic SELT

High level (70 overall, including at least 65 in each component).

LanguageCert Academic SELT scores are valid for two years from the test date. Your score must be valid when you begin your Sussex course.  Find out more about LanguageCert Academic SELT

We only accept LanguageCert when taken at SELT Test Centres.

We do not accept the online version.  We also do not accept the non-SELT version.

LanguageCert International ESOL SELT

High level (International ESOL SELT B2 with a minimum of 39 in each component)

LanguageCert International ESOL scores are valid for two years from the test date. Your score must be valid when you begin your Sussex course. Find out more about LanguageCert SELT

We only accept LanguageCert when taken at SELT Test Centres. We do not accept the online version.

Pearson PTE Academic

High level (62 overall, including at least 59 in all four skills)

PTE (Academic) scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course. Find out more about Pearson (PTE Academic)

We do not accept the PTE Academic Online test.

TOEFL (iBT)

High level 88 overall, including at least 20 Listening, 19 in Reading, 21 in Speaking, 23 in Writing.

TOEFL (iBT) scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course. Find out more about TOEFL (iBT)

We do not accept TOEFL (iBT) Home Edition.

The TOEFL Institution Code for the University of Sussex is 9166.

English language qualifications

As/a-level (gce).

Grade C or above in English Language.

Hong Kong Advanced Level Examination (HKALE)/ AS or A Level: grade C or above in Use of English.

GCE O-level

Grade C or above in English.

Brunei/Cambridge GCE O-level in English: grades 1-6.

Singapore/Cambridge GCE O-level in English: grades 1-6.

GCSE or IGCSE

Grade C or above in English as a First Language (Grade 4 or above in GCSE from 2017).

Grade B or above in English as a Second Language.

Ghana Senior Secondary School Certificate

If awarded before 1993: grades 1-6 in English language.

If awarded between 1993 and 2005: grades A-D in English language.

Hong Kong Diploma of Secondary Education (HKDSE)

 Level 4, including at least 3 in each component in English Language.

Indian School Certificate (Standard XII)

The Indian School Certificate is accepted at the grades below when awarded by the following examination boards:

Central Board of Secondary Education (CBSE) – English Core only: 70%

Council for Indian School Certificate Examinations (CISCE) - English: 70% 

International Baccalaureate Diploma (IB)

English A or English B at grade 5 or above.

Kenya Certificate of Secondary Education

Grades A - C in English language

Malaysian Certificate of Education (SPM) 1119/GCE O-level

If taken before the end of 2008: grades 1-6 in English Language.

If taken from 2009 onwards: grade C or above in English Language.

The qualification must be jointly awarded by the University of Cambridge Local Examinations Syndicate (UCLES).

West African Senior School Certificate

Grades A1-C6 (1-6) in English language when awarded by the West African Examinations Council (WAEC) or the National Examinations Council (NECO).

Country exceptions

Select to see the list of exempt english-speaking countries.

If you are a national of one of the countries below, or if you have recently completed a qualification equivalent to a UK Bachelors degree or higher in one of these countries, you will normally meet our English requirement. Note that qualifications obtained by distance learning or awarded by studying outside these countries cannot be accepted for English language purposes.

You will normally be expected to have completed the qualification within two years before starting your course at Sussex. If the qualification was obtained earlier than this, we would expect you to be able to demonstrate that you have maintained a good level of English, for example by living in an English-speaking country or working in an occupation that required you to use English regularly and to a high level.

Please note that this list is determined by the UK’s Home Office, not by the University of Sussex.

List of exempt countries: 

• Antigua and Barbuda
• New Zealand
• St Kitts and Nevis
• St Vincent and the Grenadines
• The British Overseas Territories
• Trinidad and Tobago
• United Kingdom

** Canada: you must be a national of Canada; other nationals not on this list who have a degree from a Canadian institution will not normally be exempt from needing to provide evidence of English.

English language support

If you don’t meet the English language requirements for your degree, you may be able to take a pre-sessional course

• Visas and immigration

Admissions information for applicants

If your qualifications aren’t listed or you have a question about entry requirements, contact us

• How to apply

If you’d like to join us as a research student, there are two main routes:

• browse funded projects in this subject area
• browse our potential supervisors and propose your own research project.

Find out how to apply for a PhD at Sussex

Full-time and part-time study

Choose to work on your research full time or part time, to fit around your work and personal life. For details about part-time study, contact us at [email protected]

PhD or MPhil?

You can choose to study for a PhD or an MPhil. PhD and MPhil degrees differ in duration and in the extent of your research work.

• For a PhD, your research work makes a substantial original contribution to knowledge or understanding in your chosen field.
• For an MPhil, your work is an independent piece of research but in less depth than for a PhD. You’ll graduate with the degree title Master of Philosophy. You might be able to change to a PhD while you study for an MPhil.

Our supervisors

Dr Mostak Ahamed

Senior Lecturer in Finance

[email protected]

View profile of Mostak Ahamed

Lecturer in Finance

[email protected]

View profile of Xi Chen

Prof Ranko Jelic

Professor of Finance

[email protected]

View profile of Ranko Jelic

Prof Andreas Kaeck

[email protected]

View profile of Andreas Kaeck

Dr Xiaochun Meng

[email protected]

View profile of Xiaochun Meng

Dr Faek Menla Ali

[email protected]

View profile of Faek Menla Ali

Prof Radu Tunaru

Professor of Finance & Risk Management

[email protected]

View profile of Radu Tunaru

Dr Xiaoxiang Zhang

Reader in Finance and Corporate Governan

[email protected]

View profile of Xiaoxiang Zhang

Funding and fees

How can i fund my course, funded projects and scholarships.

Our aim is to ensure that every student who wants to study with us is able to despite financial barriers, so that we continue to attract talented and unique individuals. Don’t miss out on scholarships – check the specific application deadlines for funding opportunities. Note that funded projects aren’t available for all our PhDs.

£3,000 scholarships available to environmental influencers bringing about real-world behaviour change

Find out more

£800 scholarship available to reward talented organ player studying on any course at Sussex.

Scholarships of £800 are available to reward talented musicians studying on any course at Sussex

Cash scholarships available for students who have demonstrated sporting excellence

University of Sussex Stuart Hall Doctoral Scholarship

Applying for USA Federal Student Aid?

If any part of your funding, at any time, is through USA federal Direct Loan funds, you will be registered on a separate version of this degree which does not include the possibility of distance learning which is prohibited under USA federal regulations. Find out more about American Student Loans and Federal Student Aid .

Part-time work

We advertise around 2,500 part-time jobs a year so you can make money and gain work experience. We have a special scheme to employ students on campus, wherever possible.

Find out more about careers and employability

How much does it cost?

Fees for self-funding students.

Home students: £4,786 per year for full-time students

Channel Islands and Isle of Man students: £4,786 per year for full-time students

International students: £21,500 per year for full-time students

Home PhD student fees are set at the level recommended by United Kingdom Research and Innovation (UKRI) annually, rising in line with inflation. Overseas fees are subject to an annual increase - see details on our tuition fees page

Additional costs

Note about additional costs.

Please note that all costs are best estimates based on current market values. Activities may be subject to unavoidable change in response to Government advice. We’ll let you know at the earliest opportunity. We review estimates every year and they may vary with inflation. Find out how to budget for student life .

Empirical research costs

On top of your PhD fees and living costs, you may also need to cover some research and training costs, relevant to your research project. These costs will depend on your research topic and training needs, but may include: - travel (to archives, collections or scientific facilities) - a laptop - overseas fieldwork costs (travel and accommodation, and language training) - conference costs (travel, registration fees and accommodation) - laboratory consumables and workshop materials - participant costs - transcription or translation costs - open-access publication costs. If you have a scholarship from one of the UK Research Councils, your scholarship should cover these types of costs. You'll receive details of how to claim this additional funding. If you're self funded, or if your scholarship doesn’t cover these costs, check with the Research and Enterprise Co-ordinator in your School for details of School or Doctoral School funding that may be available.

• Living costs

Find out typical living costs for studying at Sussex

Find out about our terms and conditions

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Experience Sussex life in our virtual tour.

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PhD Information Sessions

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Online PhD Sessions

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International

Meet us in your country

Course enquiries

+44 (0)1273 876787

Send us a message

Admissions enquiries

If you haven’t applied yet:

+44 (0)1273 678169 business-researchstudents@​sussex.ac.uk

Find out about the University of Sussex Business School

After you’ve applied:

+44 (0)1273 877773 [email protected]

Find out how to apply

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• Postgraduate Research

Accounting and Finance PhD

• Part time available: yes

Studying in:

• Management School
• Faculty of Humanities and Social Sciences

Our Accounting and Finance PhD aims to develop world-class researchers, specialised in building theory and producing valuable insight into current issues in accounting and finance.

Why study with us?

of our School's research classified as 'world leading' (4*) or 'internationally excellent' (3*) in the latest Research Excellence Framework (2021)

international experts shape world-class academic thought

of our research environment classified 'world leading' (4*) or 'internationally excellent' (3*) in the latest Research Excellence Framework (2021)

The University of Liverpool Management School’s (ULMS) Accounting and Finance PhD programme covers a wide range of areas for investigation, with special emphasis on the role accounting and finance play on organisational success, risk management and dealing with uncertainties.

The training offered is tailored, with specific modules aimed at facilitating the development of your individual research project:

• Corporate Finance and Accounting
• Theory Asset Pricing Theory
• Empirical Corporate Finance
• Accounting Empirical Asset Pricing.

To ensure you receive the most relevant support during the thesis development stage, you will work with a primary supervisor, who is a leading expert in their field.

Additionally, you will be supported by a secondary supervisor, who is typically promising early career researcher, specialising in your specific area of study.

Research themes

The University of Liverpool Management School   is a UK triple accredited ( AACSB , AMBA , and EQUIS ) leading and internationally recognised research institution, with outstanding REF 2021 results against 108 ranked Business and Management Schools across the country:

• 12th for submissions judged as World Leading (4*) or Internationally Excellent (3*)
• 16th for research outputs classified as World Leading (4*)
• 9th place for Research Power (17 places higher than in 2014)
• 100% of research supported by a World Leading (4*) or Internationally Excellent (3*) environment.

The School’s Accounting and Finance group is one of largest in the UK, with members regularly publishing in a range of top scholarly journals, including the Review of Financial Studies, Journal of Financial Economics, Journal of Accounting and Economics, Management Science, etc.

The School also has five research centres and one cluster , specialised in contemporary issues in business and society, and aimed at bringing together expertise across the School and University.

As a PhD student you are welcome to join any of these centres, as they present excellent opportunities to access internal and external research networks around cutting-edge themes.

Research interests

We welcome research proposals including, but not limited to:

• Asset pricing and investment
• Corporate finance and accounting
• International financial markets and the macroeconomy
• Financial technology (Fintech).

Please, make sure your application adheres to the following structure (maximum 3,000 words):

• Title of the proposal
• Introduction and expected contribution and its significance
• Literature review
• Proposed research questions
• Proposed methodology (fit with research/experience/need for training)
• Gantt chart
• References.

As a PhD student at the Management School you will enjoy access to a ‘Hot Desk’ working environment.

In addition to printing/photocopying/scanning facilities, the Management School has two dedicated computer suites located on the ground floor:

• The  McKenzie Trading Room offers 40 PCs with Bloomberg access. Each PC has a dual monitor and a Bloomberg keyboard
• The Grove Wing Computer Room has 28 PCs running on the standard University of Liverpool Network, with DataStream available on several computers.

You will gain access to globally recognised databases for business research, including:

• China Stock Market and Accounting (CSMAR)
• Refinitiv Eikon
• TickHistory
• Wharton Research Data Services (WRDS) .

Research groups

Research by subject groups

We have six groups which form homes for both research and teaching, providing the management and infrastructure to ensure vitality and sustainability of our research environment.

• Accounting and Finance
• Operations and Supply Chain Management
• Strategy, International Business and Entrepreneurship
• Work, Organisation and Management

Research centres and clusters

Research centres develop the School's contribution to established themes with a strong focus on applying ideas through funding and impact-related work.

Research clusters are grass-roots driven and interdisciplinary, focussing on the development of new theoretical and empirical work, typically at the early stages of the knowledge production/impact cycle.

• The Brett Centre for Entrepreneurship
• Centre for Supply Chain Research
• Centre for Sports Business
• Centre for Sustainable Business
• Centre for Organisational and Employee Wellbeing
• Liverpool Advanced Methods for Big Data Analytics (LAMBDA) Research Cluster

Study options and fees

The fees below reflect one year of study during the 2024/25 academic year

The fees stated in the table above exclude potential research support fees also known as ‘bench fees’. You will be notified of any fee which may apply in your offer letter.

* Please note that if you are undertaking a PhD within the Faculty of Science and Engineering the fee you pay, Band A or Band B, will reflect the nature of your research project. Some research projects incur a higher fee than others e.g. if you are required to undertake laboratory work. You will be informed of the fee for your programme in your offer letter.

^ Self-funded, full-time international students studying a PhD programme classified as Band A will receive a £2,000 reduction in their fees for the first year only.

Entry requirements

Applications are welcomed and will be considered in our highly competitive programme from well qualified graduates who would typically hold a UK first degree or equivalent in the first or 2:1 class, in a relevant subject.

English language requirements

How to apply

Research degree applications can be made online.  You'll also need to ensure that you have funding to cover all fees.

Applications are  open all year round .

More about applying for research degrees

Apply online

Before you apply, we recommend that you identify a supervisor and develop a research proposal

Find a supervisor

View staff list

Need help finding a supervisor? Contact us

• Dr Yang Zhao
• Email: [email protected]

Related studentships: self-funded and funded PhD projects

Related doctoral training partnerships.

Doctoral Training Partnerships support future researchers with funding and a rewarding learning environment where you can collaborate with leading researchers.

• ESRC - NW Social Science DTP

Find a scholarship

We offer a range of scholarships to help you meet the costs of studying a research degree.

See scholarships

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We have 25 Finance PhD Projects, Programmes & Scholarships in the UK

United Kingdom

Institution

All Institutions

All PhD Types

All Funding

Finance PhD Projects, Programmes & Scholarships in the UK

Phd studentship in ai and collective intelligence: theory and applications in financial payment and lending cases, phd research project.

PhD Research Projects are advertised opportunities to examine a pre-defined topic or answer a stated research question. Some projects may also provide scope for you to propose your own ideas and approaches.

Funded PhD Project (Students Worldwide)

This project has funding attached, subject to eligibility criteria. Applications for the project are welcome from all suitably qualified candidates, but its funding may be restricted to a limited set of nationalities. You should check the project and department details for more information.

De Montfort University PhD Scholarships

Funded phd programme (uk students only).

Some or all of the PhD opportunities in this programme have funding attached. It is only available to UK citizens or those who have been resident in the UK for a period of 3 years or more. Some projects, which are funded by charities or by the universities themselves may have more stringent restrictions.

PhD Opportunities

PhD Opportunities highlight some of the specific PhD projects, programmes or other information currently available from a university.

Leeds University Business School

Funded phd programme (students worldwide).

Some or all of the PhD opportunities in this programme have funding attached. Applications for this programme are welcome from suitably qualified candidates worldwide. Funding may only be available to a limited set of nationalities and you should read the full programme details for further information.

Business Research Programme

Business Research Programmes present a range of research opportunities, shaped by a university’s particular expertise, facilities and resources. You will usually identify a suitable topic for your PhD and propose your own project. Additional training and development opportunities may also be offered as part of your programme.

Investigating Progress and Implementation of Female Leadership among FTSE 350 Companies by 2025

Self-funded phd students only.

This project does not have funding attached. You will need to have your own means of paying fees and living costs and / or seek separate funding from student finance, charities or trusts.

UK Stock Market, Monetary Policy, and the Real Economy

Leveraging business models for investment due diligence in the venture capital, financial literacy as a barrier to entrepreneurial ambitions students from disadvantaged backgrounds, swansea university international postgraduate research excellence scholarships 2024, empirical modeling in financial engineering, mathematical modelling: real estate finance and investment, financial engineering: modelling and methods, pgr opportunities at university of strathclyde 2024, awaiting funding decision/possible external funding.

This programme is waiting to confirm funding from a university or external source. This may depend on attracting suitable students and applications are welcome. Please see the programme details for more information.

Warwick Business School: PhD Programme

Phd/msc+phd in economics, social sciences research programme.

Social Sciences Research Programmes present a range of research opportunities, shaped by a university’s particular expertise, facilities and resources. You will usually identify a suitable topic for your PhD and propose your own project. Additional training and development opportunities may also be offered as part of your programme.

PhD Programme in Accounting and Finance

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PhD Accounting and Finance / Overview

Year of entry: 2024

• View full page
• Bachelor's (Honours) degree at 2:1 or above (or overseas equivalent); and
• Master's degree in a relevant cognate subject - with an overall average of 70% or above (or overseas equivalent)
• Professional qualifications other than a Bachelors Degree and/or relevant and appropriate experience may be taken into account for entry to a PhD programme.

Full entry requirements

Apply online

Please ensure you include all required supporting documents at the time of submission, as incomplete applications may not be considered.

Application Deadlines

The current deadline for consideration in internal funding competitions is 15 March 2024.

If you are applying for or have secured external funding (for example, from an employer or government) or are self-funding, you must submit your application before the below deadline to be considered. You will not be able to apply after this date has passed.

• For September 2024 entry: 30 June 2024

Programme options

Programme overview

• Develop leading research in Accounting and Finance.
• Join one of the world's most innovative and ambitious doctoral research schools.
• Ranked 3rd in the UK for research power in 'Business and Management Studies' (REF2021).

Please enable JavaScript to watch this video.

To find out what studying on a postgraduate research programme at Manchester is like, visit our Open days and study fairs page and explore our virtual open week or future on-campus and international events.

We will be conducting our Humanities PGR virtual open week in October 2024. Find out about future events and postgraduate research sessions by signing up to our email alerts.

For entry in the academic year beginning September 2024, the tuition fees are as follows:

• PhD (full-time) UK students (per annum): £4,786 International, including EU, students (per annum): £21,000
• PhD (part-time) UK students (per annum): £2,393 International, including EU, students (per annum): £10,500

Further information for EU students can be found on our dedicated EU page.

Scholarships/sponsorships

To apply University of Manchester funding, you must indicate in your application the competitions for which you wish to be considered. The current deadline for most internal competitions, including Alliance Manchester Business School studentships is 15 March 2024.

All external funding competitions have a specified deadline for submitting your funding application and a separate (earlier) deadline for submitting the online programme application form, both of which will be stated in the funding competition details below.

For more information about funding, visit our funding page to browse for scholarships, studentships and awards you may be eligible for.

• ESRC North West Social Science Doctoral Training Partnership (NWSSDTP) PhD Studentships - Competition Closed for 2024 Entry
• China Scholarship Council - The University of Manchester (CSC-UoM) Joint Scholarship Programme - Competition Closed for 2024 Entry
• Alliance Manchester Business School PhD Studentships 2024 Entry - Competition Closed for 2024 Entry
• President's Doctoral Scholar (PDS) Awards - Competition Closed for 2024 Entry
• Engineering and Physical Sciences Research Council Doctoral Training Partnership Studentship (EPSRC DTP)
• Commonwealth PhD Scholarships (High Income Countries)
• Humanities Doctoral Academy Humanitarian Scholarship 2024 Entry
• Commonwealth PhD Scholarships (Least Developed Countries and Fragile States)
• RADMA Doctoral Studies Funding 2024 Entry - Competition Closed for 2024 Entry
• PhD Scholarship for Research into Productivity

Contact details

Programmes in related subject areas.

Use the links below to view lists of programmes in related subject areas.

• Accounting and Finance

Regulated by the Office for Students

The University of Manchester is regulated by the Office for Students (OfS). The OfS aims to help students succeed in Higher Education by ensuring they receive excellent information and guidance, get high quality education that prepares them for the future and by protecting their interests. More information can be found at the OfS website .

You can find regulations and policies relating to student life at The University of Manchester, including our Degree Regulations and Complaints Procedure, on our regulations website .

Choose start date: Start date: September 2024 Duration: Five to six years Deadline: Applications are now closed Fee: Fully funded Location: London, UK Admissions Funding and scholarships

A fully-funded PhD for aspiring scholars seeking an academic career 

We believe that rigorous academic analysis can provide practical solutions to complex problems in society. Our fully-funded PhD programme provides students with the opportunity to conduct their own research in a world-leading university, finding solutions to key challenges in modern business. As a Business School, we rank first in the UK for research environment and second for management and business students, while Imperial College London ranks first in the UK overall for research (REF 2021). 

Starting with a one or two-year Master’s in Research (MRes), depending on your chosen research area, you will gain a strong theoretical grounding and thorough research training to prepare you for the PhD. As a doctoral student you will have the benefit of supervision from leading world scholars. You will develop the expertise and research skills necessary to pursue a career in academia with previous Imperial doctoral graduates finding success in other leading universities such as Copenhagen Business School, Tsinghua University, University of Amsterdam, University College London, and The Wharton School of the University of Pennsylvania.

97% world-leading or internationally excellent research (REF 2021) #1 in the UK for research (Imperial College London, REF 2021) 1% top one per cent of business schools worldwide to have achieved triple accreditation 6 research areas Explore the programme

Advance your academic success at a world class research institution

2nd in the world (Imperial College London, QS World University Rankings 2025)

3rd in Europe (Imperial College London, Times Higher Education World University Rankings 2024)

#1 city for students (London, QS Best Student City Rankings 2024)

Build your career with our global reputation

With particular expertise in finance, entrepreneurship, health, and sustainable business, the Business School is recognised as leading the field. Benefit from strong industry partnerships and a diverse alumni network. 

A fully-funded programme

Every student on our Doctoral programme is offered full funding, including a full tuition fee waiver (Home/EU or Overseas fees) plus a living stipend for up to five years. Funding for a 6th year can be considered on a case-by-case basis, with the potential to undertake a teaching or research assistant studentship with one of the Business Schools research centres.  

World-class faculty

Our internationally admired faculty are leaders in their respective fields, bringing a wealth of experience and academic distinction. They are deeply invested in developing the research interests of our PhD students, fostering an environment of intellectual growth and innovation. 

Impact on industry

Working closely with businesses and governments, we drive policy and practice through inspiring collaboration and research excellence, giving you the opportunity to observe the impact of research on business and society. 

Inspiring intellectual community

Engage with a diverse cohort of fellow PhD students and researchers, creating an inspiring and collaborative environment that encourages intellectual development and professional connections. 

Programme content

The Business School Master’s in Research (MRes) is an integral part of the PhD, introducing theory and research methods in Finance, Economics and Management, providing you with a solid foundation for your doctoral studies. Depending on the research area you choose to specialise in, you will embark on a one or two-year MRes programme as shown below. 

*Please note programme content is subject to change. The modules mentioned below are just a sample of what is available in the programme.

Data Analysis Tools

This course provides students with a basic foundation in mathematics and statistics required to undertake further quantitative research methods courses. This course consists of two parts, statistics and mathematics. Topics covered include: matrix algebra; optimization; differential equations; random variables and probability distributions; moments of a random variable; probability distributions; joint, marginal and conditional distributions; functions and transformation of a random variable; hypothesis testing; univariate regression.

Systematic Reviews

When starting new research, the first step is usually a literature review: scanning what is already known about a given topic and figuring out where the gaps are. However, novice researchers tend to be anything but systematic in their literature review: they have no method for scanning the literature, and they usually have little idea of what is relevant and what is not. The Systematic Review method opens a way to create research syntheses that add real value and novel insight – in a way that is potentially publishable in its own right.

Specialist Modules

Optimisation

Stochastic Processes - This module introduces you to basic tools for modelling stochastic phenomena. The focus of the module is the theory of stochastic processes, but applications will be drawn from operations research, analytics / ML, and finance to illustrate the usage of the models for studying real-world business problems

Machine Learning for Analytics - This module gives you an overview of machine learning methods for analytics. Applications in the module will be drawn from various sources including medical applications (e.g. patient discharge from hospitals), recommender systems and the Netflix prize, advertising and marketing, estimating scofflaw rates, reputations systems and Google's PageRank algorithm, filtering, text mining, sports analytics etc.

Decision Making Under Uncertainty - This module gives you an overview of different paradigms of decision making in dynamic uncertain environments, including dynamic programming, stochastic optimisation and robust optimisation. Along with theory, applications in operations management and analytics will be introduced, with the aim of preparing you for research in these areas.

Industrial Organisation

Sustainable Behaviour - This module aims to provide you with an in-depth exposure to the emerging academic field of sustainable behaviour. You will be presented with the main methodological tool used in behavioural research (lab and field experiments) as well with the multiple articles and journals which have published cutting-edge experimental research on sustainable behaviour across a wide variety of contexts.

Consumer Behaviour - This module aims to give you a robust foundation in consumer behaviour and how it relates to marketing. The module covers topics such as how consumers process marketing communications, how consumer involvement affects decision making, and how external factors impact consumer behaviour.

Microeconomics 1

Microeconomics 2

Research methods modules

Applied Microeconometrics

Applied Microeconometrics 2

Econometrics 1

Econometrics 2

Qualitative Methods 1

Qualitative Methods 2

Quantitative Methods 2

Other elective modules

You can choose from a range of elective modules relevant to your pathway.

Asset Pricing Theory 

Corporate Finance

Consumer Behaviour

Empirical Asset Pricing

Entrepreneurship 

Financial Economics of Climate Sustainability

Machine Learning for Analytics

Machine Learning for Economic Analysis

Macroeconomics

Macro-Finance

Micro Development Economics

Organisational Behaviour

Organisation Theory 

Topics in Empirical Banking 

Topics in Environmental Resource Economics 

Topics in Health Economics

Topics in Household Finance 

Business Models and Intellectual Property*

Contemporary Topics in Health Policy*

Digital Marketing Analytics*

Healthcare and Medical Analytics*

Logistics and Supply Chain Analytics*

Optimisation and Decision Models*

Retail and Marketing Analysis*

Workforce Analytics*

*These modules are available subject to capacity and timetabling constraints in other faculties and are differently weighted to the MRes Business electives

Year one compulsory modules for Economics and Public Policy pathway

Applied Microeconometrics I  - This module will provide an introduction to the practice of applied microeconometrics. Students will learn the standard empirical methods in current use by applied researchers and be exposed to a handful of frontier approaches. The focus will be on implementation beyond simply estimating a parameter of interest: getting the standard errors right, validation and conducting appropriate robustness exercises, and adapting methods to fit new contexts.

Applied Microeconometrics II  - This module will be an introduction to some of the most important themes for students wishing to conduct their own research in Empirical Corporate Finance. For other students, this module will help students gain a better understanding of research related to your own field. Topics covered include: regression refresher, causality and randomized experiments, instrumental variables, difference-in-difference, regression discontinuity, standard errors, event studies, discrete response models, matching methods, and non-parametric methods

Econometrics I  - The module has the objective to provide the students with econometric tools necessary to conduct their empirical research and discuss fundamentals of econometric theory behind them. Students will learn how to conduct - and how to critique - empirical studies in finance, economics and related fields.

Macroeconomics II  - This course covers research issues that arise in the intersection of macroeconomics and finance. Topics include portfolio choice, general equilibrium models with heterogeneous agents and dynamic asset pricing models.

Microeconomics I  - The module covers the main tools of microeconomic theory and focuses on preferences, consumer theory, choice under uncertainty, producer theory, and game theory. Time permitting, it introduces general equilibrium in competitive markets. The emphasis is on economic intuition as well as techniques. The fundamental concepts of microeconomic theory are discussed.

Microeconomics II  -   This module covers competitive equilibrium, markets with imperfect, competition and asymmetric information, general equilibrium, Social choice and mechanism design

Research Experience  – This module is intended to give students practical experience of research preparation for their dissertation the following year.  They will undertake research tasks under the supervision of a faculty member on a topic chosen by the faculty member.  Students can select those projects that fit their research interests.

Year one compulsory modules for Finance pathway

Econometrics II    - This module will be an introduction to some of the most important themes for students wishing to conduct their own research in Empirical Corporate Finance. For other students, this module will help students gain a better understanding of research related to your own field. Topics covered include: regression refresher, causality and randomized experiments, instrumental variables, difference-in-difference, regression discontinuity, standard errors, event studies, discrete response models, matching methods, and non-parametric methods. 

Econometrics I  - The module has the objective to provide the students with econometric tools necessary to conduct their empirical research and discuss fundamentals of econometric theory behind them. Students will learn how to conduct - and how to critique - empirical studies in finance, economics and related fields.

Macroeconomics   II  - This course covers research issues that arise in the intersection of macroeconomics and finance. Topics include portfolio choice, general equilibrium models with heterogeneous agents and dynamic asset pricing models.

Microeconomics I  - The module covers the main tools of microeconomic theory and focuses on preferences, consumer theory, choice under uncertainty, producer theory, and game theory. Time permitting, it introduces general equilibrium in competitive markets. The emphasis is on economic intuition as well as techniques. The fundamental concepts of microeconomic theory are discussed.

Corporate Finance  - This module is taught in two parts, starting with a historical background, and then considering the theory of investment decisions, capital structure, financial innovation, and corporate governance.

Asset Pricing Theory  - The first part of this module deals with representative investors, portfolio choice and dynamic securities markets in discrete time before covering portfolio choice in continuous time and option pricing. The second part starts from the asset pricing implications of a general equilibrium Lucas-tree economy. Then, it discusses the main asset pricing puzzles implied by these economies. Finally, we will explore optimal portfolio choice, multiple trees economies and some of the latest attempts in the asset pricing literature to solve some of these puzzles.

Research Experience  - This module is intended to give students practical experience of research preparation for their dissertation the following year.  They will undertake research tasks under the supervision of a faculty member on a topic chosen by the faculty member.  Students can select those projects that fit their research interests.

Year one compulsory modules for Innovation and Entrepreneurship pathway

Introduction to the Practice of Research  - This module will introduce you to the craft of research. You will develop the skills and knowledge you need to effectively produce research questions and hypotheses, ensuring consistency between theory, research design, methods and measures, and developing a clear and compelling argument.

Qualitative Methods I  - This module covers research methods required in qualitative research. You will develop skills in all aspects of the research process, including research design, data collection, data analysis, theory building, writing up as well as reviewing papers and responding to referees. The module is essential for those who wish to author qualitative research but will also be useful for quantitative researchers.

Quantitative Methods I  - This module provides an overview of the primary quantitative methods employed in management research. It will enable you to develop the ability to interpret the results of your own research as well as to critically assess the findings presented in other studies. The emphasis will be on the practical application of different estimation models using STATA rather than on the econometrics and mathematical specification.

Organisational Behaviour  - In this module you will be introduced to a selection of most seminal papers in organisational behaviour with a particular focus on classic and contemporary theories, ongoing controversies, and ground-breaking empirical studies. The emphasis is on providing a foundational overview of the field.

Organisational Theory  - This module will expose you to the major theoretical perspectives and issues studied in organisation theory research. You will also be exposed to a set of approaches to understanding how and why organisations form, survive and grow.

Strategy  - In this module you will develop the fundamentals of strategy including the theories of competitive advantage, industry analysis, understanding of resource based view/knowledge based view, and corporate strategy.

Innovation Management  - This module will offer a thorough theoretical understanding of the key themes of innovation research, combined with practical insights into the challenges of innovation management in organisations. You will address topics ranging from technological change, creativity, the role of networks in innovation, and appropriability/value capture from innovation.

Entrepreneurship  - This module introduces students to the major theoretical threads and debates in the field of entrepreneurship. Students will learn to make connections between theory and empirical research, practice critiquing and identifying insight in research, engage with fundamental debates in the field and formulate directions how the field may be further advanced.

Year one compulsory modules for Strategy and Organisational Behaviour pathway

Elective modules for economics and public policy pathway.

Asset Pricing Theory

Decision Making Under Certainty

Econometrics I

Econometrics II 

Financial Economics of Climate and Sustainability

Machine Learning for Economics Analysis

Macroeconomics 

Microeconomics I

Microeconomics II 

Sustainable Behaviour

Topics in Empirical Banking

Topics in Environmental Resource Economics

Topics in Household Finance

Elective modules for Finance pathway

Advanced Financial Statistics

Asset Allocation and Investment Strategies

Big Data in Finance I

Big Data in Finance II

Decision Making Under Uncertainty

Econometrics II

Financial Economics for Climate Sustainability

Microeconomics II

Elective modules for Innovation and Entrepreneurship pathway

Advanced Topics in Organisational Behaviour

Corporate Sustainability

Interdisciplinary Research

Qualitative Methods II

Readings in Digital Business

Readings in Social Networks/Social Capital

Social Network Analysis

Social Data Science

Special Topics in Organisational Theory/Strategy

Elective modules for Strategy and Organisational behaviour pathway

Advanced Topics in Organisational Behaviour 

Social Network Analysis 

Research Project

During the second year, students work on their MRes project which is formally assessed and counts towards the overall MRes mark. Students are expected to approach potential supervisors from within the department’s academic staff. Students submit their proposed research project title and a brief outline by the end of September of Year two. Students submit a Progress Report in February, outlining their progress to date with the thesis. During the Summer Term, students will submit their MRes dissertation. This will be followed by an oral exam

Research plan 

When you progress from the MRes to the PhD, you will work with your supervisors, chosen based on your research interests. Your supervisors will help you develop your research question, identify research and teaching opportunities and support you through your studies and the academic job application process.  

Seminars and conferences

Being part of the School’s inspirational research community is a crucial aspect of the doctoral experience – as is gaining familiarity with cutting edge research from world-leading academics. Each department runs seminars where internal and external academics discuss their latest work.  

As well as providing insight into yet-to-be-published research, the seminars offer networking opportunities and visiting academics often lead special topic workshops for research students. The Doctoral programme also supports the participation of research students in international conferences where you can present your own research and participate in doctoral consortia. 

Early Stage Assessment 

The Early Stage Assessment (ESA) takes place in the summer of year one of the PhD and is assessed by a panel of faculty. The ESA outlines the research question, the work you have done to date and the future research activities to be carried out to complete the project. 

It consists of a written report and presentation to which all PhD students and research department faculty are invited. The purpose of the ESA is not only to assess your personal progress but it also gives you the opportunity to discuss your work at its early stages and get feedback and ideas from faculty to improve your research. 

Armed with feedback from the Early Stage Assessment, you will work intensely on your thesis, focusing on the collection and analysis of empirical data and developing theoretical frameworks. Under the guidance of your supervisors, the thesis gives you the opportunity to conduct a substantial piece of original research. 

Late stage review

The Late Stage Review (LSR) takes place in the summer of year two of the PhD and follows the same principle as the Early Stage Assessment, in that its purpose is to assess your progress and provide you with feedback and advice on the direction and scope of your research. 

Our research areas

What our students say

“The programme structure is different from many other business schools because during the first year at Imperial we study the Master’s of Research (MRes), which is focused on developing strong foundations before continuing to the PhD programme. This also gives us additional time to discover opportunities and find the right paths for our research.”

Class profile 2022

20 new students per year

51% female students

20 nationalities represented

Funding and scholarships

Request a brochure, career impact.

In recent years, our PhD students have joined leading universities, research centres and institutions such as Tsinghua University, University College London, Copenhagen Business School, the Bank of England, the University of Bath, King’s College London, National Chengchi University, the University of Sussex and Renmin University in China. Others have sought top positions in industry or founded successful start-ups.

The doctoral programme has been re-structured in recent years to focus more on academic development and it is anticipated that over the coming years placements will focus more on academia than industry.

Find out more about career outcomes

Meet your faculty

Our PhD programme provides close collaboration between leading Analytics & Operations faculty and doctoral students, developing your research interests and providing continuous support and guidance throughout the programme.  

Alexander Michaelides

Kalyan Talluri

Wolfram Wiesemann

Edward Anderson

Martin Haugh

Xiaocheng Li

Reza Skandari

Jiankun Sun

Carol Propper

Franco Sassi

Jonathan Haskel

Marisa Miraldo

Richard Green

Pedro Rosa Dias

Esther Bøler

Franklin Allen

Patrick Bolton

Ramana Nanda

Lara Cathcart

Enrico Biffis

Christopher Hansman

Clara Martinez-Toledano

Alan Hughes

Celia Moore

Markus Perkmann

Christopher Tucci

James Barlow

Ileana Stigliani

Mark Kennedy

James Eteen

Eduardo B. Andrade

Andreas Eisingerich

Rajesh Bhargave

Sven Mikolon

Michelle Rogan

Frequently asked questions, how long does it take to complete the doctoral programme.

The Doctoral programme is structured to take between four to six years full-time. In the first year, all students undertake a one or two year MRes programme depending on their chosen research area specialism. Subject to satisfactory academic progress, students then progress to the PhD which takes between 3-4 years.

When does the academic year start?

The Doctoral programme has one intake each year in September and is spread over four to six years.

Do you offer any distance learning or part-time research programmes?

It is not possible to enrol on the Doctoral programme on a part-time or distance learning basis. Students must be in attendance throughout the full period of study.

Can I transfer from my current Doctoral programme to Imperial College Business School's Doctoral programme?

It is not usually possible to transfer onto the Doctoral programme as it is unlikely that previous studies would perfectly overlap with the School’s expertise.

Can I come to Imperial College Business School as a visiting student?

Please visit Imperial College London's visiting students page .

Can I have a part-time job whilst enrolled in the programme?

The Doctoral programme is full time. Students are able to undertake part-time work if this does not break any relevant visa and/or scholarship conditions, however the programme offers a living stipend to support students during their studies.

How many students do you accept onto the Doctoral programme every year?

Admission onto the Doctoral programme is highly competitive as we accept around 15 students each year, from a total of approximately 200 applications.

Is there a workspace assigned to Doctoral students?

There is a designated workspace which includes a computer and relevant software assigned to all enrolled Doctoral students. You will share working space with other PhD students in your cohort.

How do I apply and what documents do I need to submit with my application?

All applications to the Doctoral programme are made via our online platform. You will either need to select 'Business (MRes 1YFT)' or 'Business (MRes 2YFT)' based on your research area of interest. Further information can be found on our  Doctoral programme page.

Please refer to the  How to apply page  to see application deadlines, what documents you are required to submit with your application and to view the selection process.

When is the application deadline?

To find out more about application deadlines for our Doctoral programme please  visit the How to apply page .

What do I need to include in my statement of purpose?

One of the most important parts of our application form is the ‘statement of purpose’ section. It should be no more than one or two A4 pages and should cover the following points:

Your motivation for undertaking the programme

A discussion of possible research areas that you might pursue and how these are a good fit for Imperial College Business School

What interests you most about your chosen field of study

Relevant past study, industry, or research projects

Long-term career goals

I haven't decided what area I want to specialise in for my PhD, what should I do?

You should browse the description of the different research groups in the Business School and the webpages of faculty members. This will give an overview of their research interests and current projects. The MRes gives you an opportunity to pursue potential interests through courses and a project prior to committing to the PhD

Do I need a willing supervisor prior to application?

No, although in your application you should list a member of  faculty  you have identified as a potential supervisor. You can demonstrate in your statement of purpose how your research interests are aligned to a potential supervisor and the Business School.

Checking the research profiles of faculty members and Business School projects will give you an indication of whether the Business School is a good fit for you. If no faculty are working in your area of interest it is unlikely that you would be shortlisted, as we may not be able to provide supervisory support during your PhD.

During the MRes year, you will become part of the research community at Imperial College Business School and interact with faculty and other PhD students during taught courses and at seminars, which we hope will influence and help shape your research ideas for the PhD.

Are all applicants interviewed?

Not all applications progress to the interview stage of the selection process, however we interview all shortlisted candidates before making an offer. In the case of overseas candidates we will arrange an interview by telephone or via Skype.

Is GMAT/GRE a compulsory requirement?

Yes. A GMAT/GRE score must be submitted before we will consider an application. Any applications submitted without a GMAT/GRE score will be considered incomplete until we receive a score. Please note that we do not make offers on the condition that a candidate achieves a satisfactory GMAT/GRE score. To see the GMAT/GRE scores we look for, please refer to the  Entry Requirements page .

Do you offer Doctoral funding and stipend?

We offer a fully funded Doctoral programme at Imperial College Business School – this includes a tuition fee waiver and a stipend for up to five years. The 2024-25 rate of the Graduate Teaching Assistant scholarship stipend is £25,000. Rates are reviewed annually and are expected to increase for 2025-26 in line with Research Council UK rates. Stipends are tax-free and the continuation of the stipend will depend on your satisfactory progress on the programme.

What living costs should I allow for in London?

Living costs vary considerably depending on the area of London you choose to live in and your choice of accommodation.

Read more about  estimated London living costs  and  accommodation for postgraduates .

Do you offer Doctoral scholarships?

Within Imperial, we also have funding opportunities from various external studentships, including EPSRC, ESRC, and the Imperial College President’s PhD Scholarships .

Students who are eligible for other PhD  funding opportunities  that may be available to them are expected to apply for them.

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The Finance PhD…

The Finance PhD pathway

• Why a CJBS PhD?
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Master of Research (MRes)

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The Finance group at Cambridge Judge Business School covers a broad spectrum of issues in finance. We define finance as more than a set of financial transactions – it is the glue that holds together corporations, capital markets and the real economy. 

We pursue research on empirical and theoretical corporate finance, asset pricing, and financial accounting as well as the intersections of finance and economics. In doing so, we treat finance as both an art and a science.

Professor Raghavendra Rau talks about the Finance pathway.

Hello. My name is Raghu Rau, and I’m the Head of the Finance and Accounting group here at Cambridge Judge Business School. Finance is actually an area which deals with four different groups of people.

We are looking at investors. Investors are people who give money to corporations and to reinvest in investment project and so on. We’re looking at corporations who take money from individuals and use that to invest in different types of projects. We have financial intermediaries, who sit between the corporations and individuals trying to make sure they have the best match between projects which the companies are offering and the individuals who want to invest in these projects. And finally, you have government and regulators who make sure the whole process is fair.

Here at Cambridge Judge Business School, we focus mostly on corporate finance. So in particular, we look at empirical corporate finance. What that means is most of our research uses actual data from companies. We look at why companies use particular types of financial policy.

We look at why individuals make certain types of decisions, whether they do this rationally, whether they’re driven by behavioural biases, and so on. We look at what conflicts of interest might make financial intermediaries advocate one type of action rather than another, for example, why they might ask firms to issue equity in place of debt and other factors like that. Overall, our focus is on trying to get actual data, hard data, which tells us exactly– allows us to get at the truth, allows us to figure out what it is that individuals, managers, and financial intermediaries are really thinking when they make financial decisions.

A lot of the data we use comes from deep engagement with companies. So in fact, here at Cambridge Judge Business School, we engage a lot with individuals who are at high level positions at firms. And because we are the University of Cambridge, we have been able to get access to a lot of unique data sets, which are not available typically at most universities across the world. And we use these to answer these types of questions.

What type of student are we looking for? Basically, someone who is interested in finding out the truth. The problem with industry is that you cannot really spend much time digging into to issues and figure out what is really going on.

We don’t just have the time. You need to talk to your clients. You need to talk to your company. These are short-frame, short-term projects, which typically last more than less than about three to six months.

Three to six months is a very, very short time for an academic. If you’re interested in truly figuring out how things work, you really have to go in-depth into these matters. And that might take a year, maybe two years. At the end of the day, we’re looking for someone who is at heart interested in the truth, someone who is, well, for better words, an academic.

View video with transcript

The pathway

To start on the Finance pathway you must take one of the following 9-month masters programmes:

Master of Research (MRes) (for students with a Cambridge MPhil in Economic Research)

Essential reading

Download detailed information about the 9-month + 4-year programme structure and content.

• Research areas What we expect from you What you can expect from us PhD supervisors
• What we expect from you Research areas What you can expect from us PhD supervisors
• What you can expect from us Research areas What we expect from you PhD supervisors
• PhD supervisors Research areas What we expect from you What you can expect from us

Research areas

Our faculty research is based around empirical and theoretical corporate finance, asset pricing, and financial accounting as well as the intersections of finance and economics. You will have the opportunity to conduct cutting-edge research on the multi-faceted linkages between investors, intermediaries and corporations. While the questions are academic in nature, we strive for solutions that can inform the practice of finance, and we incorporate this spirit into our teaching and other classroom interactions. 

Application of econometric methods and theoretical tools from contract theory and financial economics

• Provides the methodical rigour to infer causal statements about the way the world works.
• Allows us to shed light on questions that we, and businesses in the real world, deemed to be interesting and important at this time.
• Leads to key new understandings, eg the importance of the role of financial intermediation for growth and welfare.

Analysing the ‘black box’ that is financial institutions

• Work on topics and papers related to the study of commercial banks, investment banks, universal banks, mutual funds, hedge funds and other providers of financial services.
• Market failures and inefficiencies as a result of what happens within firms, not just between financial institutions and those seeking their services.
• Analysis of how firms work – how are compensation contracts written, and why do companies pay bribes to politicians?
• Analysis of investors that invest in firms through a set of financial intermediaries. How do these investors understand risk? Can managers and intermediaries consistently fool them into paying too much for securities or assets?

We pay close attention to human decision-making and behavioural anomalies, both of which also apply to the broader context of capital markets and financial accounting.  

What we expect from you

You will need to have earned a first class undergraduate degree or equivalent. In some cases you will need to have a graduate degree from a highly regarded university in financial, mathematical or business economics, and to have performed within the top 5% in your class.

You will also be able to demonstrate a high level of commitment to an academic career in a business school, to this end your academic preparation is key. Finance research is quantitative in nature and your background will reflect quantitative and methodological rigour. 

For more details, please see the academic requirements for the:

What you can expect from us

• You will be considered a junior colleague rather than a student from the outset of the programme. 
• Work with faculty on joint research projects for publication in leading academic journals.  
• Learn from a series of courses focused on research methodology and the foundations of the discipline. 
• Attend seminars given by the top researchers in the field. 
• Benefit from close interactions both within the Finance subject group and beyond including external researchers, meetings with speakers and research visits to some of the finest finance departments outside Cambridge. 
• You will be fully funded during your years on the programme. 
• Access researchers across the University of Cambridge, studying a huge variety of topics at a world-class level. 
• Take advantage of the specialised interdisciplinary centres established by the Finance group, and access unique data found nowhere else in the world. 

PhD supervisors

Your principal supervisor will be a senior academic, often Professor or Associate Professor, from within the Finance group. You will benefit from their guidance and counsel throughout the programme, and beyond: in helping you to succeed in the job market and in gaining a faculty position at a leading business school. Your principal supervisor will take an active role in your research programme and will assemble a group of faculty (your advisory committee) who will co-author papers with you. 

Take a look at the faculty who may serve as your principal supervisor and view their research interests:

David Chambers

Invesco professor of finance, read more about david.

Research interests

David Chambers researches investment management; financial history; endowment asset management; IPOs; law and finance.

View David's profile

Elroy Dimson

Professor of finance, not available to take incoming phd students in october 2024., read more about elroy.

Elroy Dimson researches investment management; financial market history; endowment asset management; sustainable and responsible investing.

View Elroy's profile

Oğuzhan Karakaş

Associate professor in finance, read more about oğuzhan.

Oguzhan Karakas researches corporate governance; ownership and control; corporate social responsibility; private equity; dynamic investment strategies.

View Oğuzhan's profile

Andrei Kirilenko

Read more about andrei.

Andrei Kirilenko researches the intersection of finance, technology and regulation; fintech; asset pricing, data, and digital technologies; the design of automated financial markets and instruments.

View Andrei's profile

Bart Lambrecht

Read more about bart.

Bart Lambrecht researches various aspects of corporate finance such as real options and investment under uncertainty; mergers and acquisitions; payout policy; managerial agency and the role of asymmetric information; bankruptcy; and the financing of firms; housing and household finance; bank lending and bank capital structure.

View Bart's profile

Bang Dang Nguyen

Read more about bang.

Bang Dang Nguyen researches corporate finance; empirical finance; corporate governance.

View Bang's profile

Raghavendra Rau

Sir evelyn de rothschild professor of finance, read more about raghavendra.

Raghu Rau researches empirical corporate finance; empirical behavioural finance.

View Raghavendra's profile

Pedro Saffi

Professor of financial economics, read more about pedro.

Pedro Saffi researches security lending markets; short selling; liquidity risk; and how differences of beliefs affect trading volume.

View Pedro's profile

Lucio Sarno

Read more about lucio.

Lucio Sarno researches empirical asset pricing; international finance, and especially foreign exchange markets; macro-finance; microstructure of financial markets.

View Lucio's profile

Finance faculty

Learn more about the faculty that teach on this pathway.

Learn more about the Finance subject group

Learn more about the application process and deadlines

Explore fees and funding options

Contact the admissions team

PhD in Finance UK

Key information, about the phd in finance programme.

On the PhD in Finance programme, you have the opportunity to join a thriving and international faculty.

The faculty comprises over 50 scholars conducting state-of-the-art research in all key areas of finance and it is located within the City of London, the world's most prominent financial centre. No other PhD programme in Finance gives you such access to the City of London. The unique and direct access to leading figures from the real world of finance enables us to blend the latest theory and thinking with the latest real-world experience and developments within the PhD in Finance.

Research Excellence Framework (REF) 2021

The Research Excellence Framework (REF) 2021 rated Bayes 5 th in the UK for Business and Management research. In total, 92% of our research was rated as world-leading (4*) or internationally excellent (3*) – up from 84% in REF 2014.

Research Areas

Our research covers all the core areas of finance, including:

• Asset Pricing
• Banking and FinTech
• Commodity, Shipping Finance and Risk Management
• Corporate Finance
• Corporate Governance and ESG
• Finance and the Real Economy
• Financial Econometrics
• International Finance
• Market Microstructure
• Mathematical Finance

As such, our Finance PhD students carry out research in a wide variety of areas and receive feedback from an outstanding array of scholars, all of them at the forefront of the academic debate. The faculty fosters an engaging approach to research where collaborations across areas are encouraged.

We encourage you to learn more about the programme’s faculty or previous students’ achievements by visiting the links below.

We take pride in producing research of the highest academic standard, and our research is published routinely in the top finance journals.

• Faculty members involved in different research areas
• Recent publications from the Faculty of Finance

Programme structure

The Finance PhD is usually a four year programme. You are registered on the MPhil degree for the first two years during which you will follow a programme of taught courses and prepare your first research paper.

Year 1 - Theory and Methods

In the first year you will attend a comprehensive set of courses designed to train you in the theory and methods necessary to conduct high quality finance research. These courses are academically rigorous and you will be examined in each of them. Upon successful completion of all first year courses you will progress to year two.

First term:

• Corporate Finance Theory
• Topics in Finance

Second term:

• Empirical Corporate Finance
• Topics in Banking

Third term:

• Research Project
• Faculty workshop & seminars

Year 2 - Research and Teaching Skills

Your research training continues in this second year with workshops focused on developing specific skills such as academic writing, advanced level reading groups where we delve deeply into key current research papers, and courses introducing you to the practice of learning, teaching and assessment.

Alongside this, you will commence research in your chosen topics and the year culminates with the defense of your first research paper before a transfer panel committee. After the successful defense of your transfer panel paper you will move onto the final two years of the PhD programme.

• Literature reviews
• Reading groups
• Learning, teaching and assessment
• Academic writing
• Advanced seminars

Year 3 - Professional and Career Skills

You complete your remaining research papers in years three and four, and will defend your work in the viva voce exam soon after completion of your thesis. Training continues in the final two years but the focus shifts towards preparing you for an academic career.

You will attend workshops designed to help you to publish your work and to introduce you to the academic job market.

• Reviewing and publishing
• The job market

In the final year we devote a lot of time to both viva and job market preparation with the aim of you successfully defending your thesis and taking up academic positions in leading business schools or universities, or research jobs in policy institutions.

• Career talks
• Job market preparation
• Viva preparation

Fees and Funding

Uk (home) students.

• Full-time: £4,880 per year

Non UK (Overseas) / EU Students

• Full-time: £12,250 per year

Contact us and Find Bayes

Contact details.

Abdul Momin +44 (0)20 7040 8618   [email protected]

Bayes Business School

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Postgraduate research project

Phd scholarships in banking and finance, about the project.

Southampton Business School has an ambitious quality-driven strategy of growth and our research is recognised throughout the global academic community. 

We are seeking talented and motivated individuals with expertise in Big Data Modelling to develop new approaches to identifying patterns in Big Data.

We welcome applications that will develop an interdisciplinary approach to addressing real-world challenges. For example, enhancing organisational sustainability might require a combination of leadership, finance, governance, accounting, and strategy. 

You are invited to propose transformative research that challenges conventional disciplinary boundaries to help solve real-world problems. This will contribute to addressing the evolving challenges of business. 

You will have a creative and a collaborative spirit and create positive outcomes by bridging practice and intersectionality of disciplines. This will help prepare leaders and members of organisations for the future of work, business and entrepreneurship.

Potential supervisors

You are also advised to contact prospective supervisors with aligned research interests in advance. 

Lead supervisor

Professor Tapas Mishra

Research interests.

• Long memory; Green finance and corporate culture; Mergers and Acquisition, Stochastic economic growth; Macroprudential policy and stress testing; Environmental and demographic volatility; Cryptocurrency modelling; Climate finance, Small Business Economics, and Innovation-diffusion modelling.
• Demography-growth-environmental interdependence
• Spatio-temporal models

Entry requirements

A UK Masters with Merit or its international equivalent in one of the following:

• Financial Mathematics
• Quantitative Finance

If English isn't your first language, you'll need an International English Language Testing System (IELTS) minimum score of 7.0, with all component scores of 6.5 or above (Band G) or an equivalent qualification .

Fees and funding

For UK and international students, tuition fees will be paid and you'll receive a stipend (living allowance) of £19,237 tax-free per year for up to 3 years.

You need to:

• choose programme type (Research), 2024/25, Faculty of Social Sciences
• choose PhD in Business Studies and Management (Full time)
• add your supervisor, if known, in section 2
• specify in the Funding section you wish to be considered for one of these Scholarships

Applications should include:

• a research proposal ( Guidance on how to develop a proposal )
• your CV (resumé)
• 2 reference letters
• degree transcripts to date

If you have any general queries, please contact the PhD Director Dr David Baxter:

• Email: [email protected]
• Telephone: +44 (0) 23 8059 7273

For any subject-specific queries, please contact Professor Tapas Mishra:

• Email: [email protected]
• Course modules
• Acoustical engineering
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• Every day I’m completely immersed in an environment that’s creative in all aspects
• Everything I learn feels so relevant, even If it’s a subject rooted in the past
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• A missing link between continental shelves and the deep sea: Have we underestimated the importance of land-detached canyons?
• A seismic study of the continent-ocean transition southwest of the UK
• A study of rolling contact fatigue in electric vehicles (EVs)
• Acoustic monitoring of forest exploitation to establish community perspectives of sustainable hunting
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• Advancing intersectional geographies of diaspora-led development in times of multiple crises
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• Against Climate Change (DACC): improving the estimates of forest fire smoke emissions
• All-in-one Mars in-situ resource utilisation (ISRU) system and life-supporting using non-thermal plasma
• An electromagnetic study of the continent-ocean transition southwest of the UK
• An investigation of the relationship between health, home and law in the context of poor and precarious housing, and complex and advanced illness
• Antibiotic resistance genes in chalk streams
• Being autistic in care: Understanding differences in care experiences including breakdowns in placements for autistic and non-autistic children
• Biogeochemical cycling in the critical coastal zone: Developing novel methods to make reliable measurements of geochemical fluxes in permeable sediments
• Bloom and bust: seasonal cycles of phytoplankton and carbon flux
• British Black Lives Matter: The emergence of a modern civil rights movement
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• Business studies and management: accounting
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• Characterisation of cast austenitic stainless steels using ultrasonic backscatter and artificial intelligence
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• Flexible hybrid thermoelectric materials for wearable energy harvesting
• Floating hydrokinetic power converter
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• How do neutrophils alter T cell metabolism?
• How well can we predict future changes in biodiversity using machine learning?
• Hydrant dynamics for acoustic leak detection in water pipes
• If ‘Black Lives Matter’, do ‘Asian Lives Matter’ too? Impact trajectories of organisation activism on wellbeing of ethnic minority communities
• Illuminating luciferin bioluminescence in dinoflagellates
• Imaging quantum materials with an XFEL
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• The Mayflower Studentship: a prestigious fully funded PhD studentship in bioscience
• The calming effect of group living in social fishes
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• The evolution of symmetry in echinoderms
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• The oceanic fingerprints on changing monsoons over South and Southeast Asia
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• The role of singlet oxygen signaling in plant responses to heat and drought stress
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• Wideband fibre optical parametric amplifiers for Space Division Multiplexing technology
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Further reading

Business Education: Financial Training

The FT’s 2024 ranking of the world’s top masters in finance programmes with analysis on the latest trends, data and key findings

Salaries for masters graduates in finance sector power ahead

Alumni earn $98,000 three years after course completion, latest FT data show

Business school teaching case study: executive pay and shareholder democracy

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Financial Mathematics in United Kingdom

Why Study Financial Mathematics in United Kingdom

• Studying Financial Mathematics in United Kingdom is a great choice, as there are 8 universities that offer PhD degrees on our portal.
• Over 551,000 international students choose United Kingdom for their studies, which suggests you’ll enjoy a vibrant and culturally diverse learning experience and make friends from all over the world.
• We counted 17 affordable PhD degrees in United Kingdom , allowing you to access quality higher education without breaking the bank. Moreover, there are 332 available scholarships you can apply to.

6  Financial Mathematics PhDs in United Kingdom

Pure Mathematics and Mathematical Statistics This Pure Mathematics and Mathematical Statistics course at University of Cambridge is a three to four... University of Cambridge Cambridge, England, United Kingdom

Financial Mathematics Opportunities for PhD research are available in a wide range of topics in Financial Mathematics. This degree... The University of Manchester Manchester, England, United Kingdom

Business - Finance and Law In the Business - Finance and Law programme from Anglia Ruskin University, you will Join an international... Anglia Ruskin University Cambridge, England, United Kingdom

Finance by Professional Practice Do you want to advance or change your career, deepen your expertise in a topic, or expand your research and... Manchester Metropolitan University Manchester, England, United Kingdom

Study in United Kingdom

Universities in the UK are some of the most highly regarded in the world, and for good reasons. Some of the world's most highly regarded research takes place in British universities, which are regularly featured in international rankings. While studying in the UK, you will be able to develop in a highly multicultural environment with high chances of pursuing lucrative careers after graduation. The teaching in the UK is designed to encourage new idea generation, encouraging individual research and group cooperation, through class discussions and creative assignments.

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Explore your Financial Mathematics degree

Financial Mathematics degrees prepare students for applying mathematical methods for solving problems in the field of Finance. Financial Math students use tools like Probability, Statistics, Stochastic Processes, and Economic Theory to predict and plan for the dynamics of financial markets. Graduate careers include investment banking, hedge funds, consulting, brokerage houses, and more.

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The 10 Best PhD Programs in Finance

In essence, finance is the study of economics and the claims on resources. The best PhD programs in finance help you develop professionally so you can make difficult decisions around fund allocation, financial planning, and corporate financial management. This qualification will also equip you for a career in teaching or research at top universities.

Which of the 10 best finance PhDs is best for you?

Read on to learn everything you need to know.

Table of Contents

Why Get a Doctorate in Finance?

According to the Bureau of Labor Statistics (BLS), finance managerial professionals have an average salary of $131,710  per year, and jobs are estimated to grow by 17%  from 2020 to 2030. This is much more than the average across all occupations. With a PhD in finance, you may work as a finance manager or even become a CEO of a large corporation.

Jobs and Salaries for Doctors of Finance

After earning a PhD in finance, you can find well-paid jobs as a professor or in various corporate finance roles.

Here are some of the most common finance professions with the average annual salaries for each:

• Financial Manager ( $96,255 )
• Financial Analyst ( $63,295 )
• Finance Professor ( $73,776 )
• Chief Financial Officer ( $140,694 )
• Investment Analyst ( $67,730 )

Read More:   The Highest Paying PhD Programs

What’s the average cost of a phd program in finance.

The tuition for a PhD in finance can vary depending on the university, with public institutions generally being much more affordable than private ones.

Across all schools, the average tuition is around $30,000 per year.

However, on top of this, you need to factor in other expenses, which could add up to another $30,000 a year. Some top universities offer full funding, including tuition and a stipend for all students who are successfully admitted to the program.

Read Next: The Average Cost of a Master’s Degree in Finance

Top finance phd programs and schools, stanford university, graduate school of business.

PhD in Finance

Stanford University is one of the most prestigious business schools in the world. Its PhD in finance programs has an emphasis on theoretical modeling and empirical testing of financial and economic principles.

• Courses include: Financial markets, empirical asset pricing, macroeconomics, and financial markets.
• Duration: 5 years
• Tuition : Full funding
• Financial aid: Research & teaching assistantship, grants, outside employment, and outside support.
• Delivery: On-campus
• Acceptance rate: 5%
• Location: Stanford, California

The University of Pennsylvania, The Wharton School

The University of Pennsylvania’s renowned Wharton School of Business is home to faculty who are well-known in the field of business research. The school boasts a low student-faculty ratio in an atmosphere that allows you to work with faculty members as peers. This doctor of finance program emphasizes subjects like asset pricing, corporate finance, and portfolio management. This helps students become experts in research and teaching in these areas.

• Courses include: Topics in asset pricing, financial economics, and international finance.
• Credits: 18 courses
• Financial aid: Fellowships, grants, student employment, health insurance, stipend, and loans.
• Acceptance rate: 9%
• Location: Philadelphia, Pennsylvania

The University of Chicago, Booth School of Business

Booth School of Business is a major center for finance education because its faculty includes Eugene F. Fama, Nobel laureate and the father of modern empirical finance. This finance doctoral degree has an option for a joint PhD in collaboration with the university’s economics department.

• Courses: Financial economics, financial markets in the macroeconomy, and behavioral finance.
• Tuition : Refer tuition page
• Financial aid: Grants, stipends, health insurance, scholarships, fellowships, teaching assistantships, research assistantships, and loans.
• Acceptance rate: 7%
• Location: Chicago, Illinois

The University of Illinois at Urbana-Champaign, Gies College of Business

The University of Illinois at Urbana Champaign is one of the best places for studying and conducting research in finance. Its finance research faculty was ranked #4  in the UTD Top 100 Business School Research Rankings between 2016-2019. In this PhD in finance program, students can take the qualifying examination at the end of the first year and, if successful. They’ll be able to start their research project earlier and complete the degree sooner.

• Courses include: Empirical analysis in finance, corporate finance, and statistics & probability.
• Duration: 4-5 years
• Financial aid: Full tuition waiver, stipends, scholarships, grants, student employment, and loans.
• Acceptance rate: 63%
• Location: Champaign, Illinois

Massachusetts Institute of Technology, Sloan School of Management

The Sloan School is one of the top research centers in the world, which aims to transform students into experts who can handle real-world problems in a wide range of spheres, from business and healthcare to climate change. This PhD program in finance gives students the flexibility to choose between a wide range of electives and even study some courses at Harvard.

• Courses include: Current research in financial economics, statistics/applied econometrics, and corporate finance.
• Duration: 6 years
• Financial aid: Full tuition, stipend, teaching assistantships, research assistantships, health insurance, fellowships, scholarships, and loans.
• Location: Cambridge, Massachusetts

Northwestern University, Kellogg School of Management

The Kellogg School of Management allows students to conduct independent research under the supervision of faculty who’ve made significant contributions to the field and have earned numerous prestigious awards. This doctorate of finance program’s admission process has a dual application option. You can also apply to the Economics PhD simultaneously, so if you are not selected for the finance program, you may be considered for economics.

• Courses include: Econometrics, corporate finance, and asset pricing.
• Duration: 5.5 years
• Financial aid: Tuition scholarship, stipends, health insurance, moving allowance, and subsidies.
• Location: Evanston, Illinois

The University of California Berkeley, Haas School of Business

The Haas School of Business in Berkeley is an innovative institution that questions the status quo, takes intelligent risks, and accepts sensible failures in its path to progress. This finance PhD program offers students opportunities to learn about cutting-edge research from faculty from around the world.

• Courses include: Corporate finance theory, stochastic calculus, and applications of psychology & economics.
• Tuition : Refer cost page
• Financial aid: Fellowships, grants, tuition allowance, stipends, teaching assistantships, and research assistantships.
• Acceptance rate: 17%
• Location: Berkeley, California

The University of Texas at San Antonio, Alvarez College of Business

The Alvarez College of Business is one of the forty largest business schools in the USA. It follows a comprehensive and practical approach to education that allows students to apply the knowledge they gain directly in the workplace. This PhD in finance encourages students to do collaborative research with the faculty, which helps them publish their own academic papers before they even complete the program.

• Courses include: Corporate finance, international financial markets, and microeconomic theory.
• Credits: 84 (post-bachelors)
• Financial aid: Scholarships, grants, work-study, teaching assistantships, research assistantships, research fellowships, and loans.
• Acceptance rate: 84%
• Location: San Antonio, Texas

Liberty University, School of Business

Doctor of Business Administration (DBA) in Finance

Liberty University is a non-profit institution among the top five online schools in the USA and has been offering fixed tuition fees for the past seven years. This is one of the best PhD in Finance programs you can do completely online. It aims to prepare students to address issues in business finance through research, best practices, and relevant literature.

• Courses: Managerial Finance, Investments & Derivatives, Business Valuation, etc.
• Credits: 60
• Duration: 3 years average
• Tuition : $595 per credit
• Financial aid: Grants, scholarships, work-study, veteran benefits, and loans.
• Delivery: Online
• Acceptance rate: 50%
• Location: Lynchburg, Virginia

Northcentral University

PhD in Business Administration (PhD-BA) – Finance Management

Northcentral University was founded with the objective of offering flexible, fully-online programs to working professionals around the world. This doctorate degree in finance online is flexible and allows you to design your own schedule. You will also get one-on-one personal mentoring from qualified faculty.

• Courses include: Business financial systems, business statistics, and business leadership & strategy.
• Duration: 84 months average
• Tuition: $1,105 per credit
• Financial aid: Grants, scholarships, and military scholarships.
• Acceptance rate: NA
• Location: Scottsdale, Arizona

Things To Consider When Choosing a Finance PhD Program

The right PhD program for you is a very personal decision and will depend on several individual factors.

However, these general questions will help you to make the right choice:

• Is the university properly accredited?
• Does the university conduct innovative and cutting-edge research?
• Are there renowned faculty members who you’ll want to work with?
• Do they offer subjects or specializations that match your career goals?
• What is the school’s placement history?
• What are the tuition fees, costs, and options for scholarships and financial aid?
• Does the program offer online study options?

It’s also important to consider if you want to pursue a career in academia or work in organizations as a senior finance professional. A PhD degree will generally set you up for a career in research or academia, while a DBA is more suited to a career in business or government.

Preparing for a Finance Doctorate Program

It’s important to start preparing early if you want to be selected for one of the best finance PhD programs.

These handy tips can help you put your best foot forward:

• Research the requirements of the best universities offering PhD in finance degrees, including pre-requisite subjects and qualifying grades. Keep these in mind when completing your bachelor’s or master’s degree.
• Understand your strengths and weaknesses in relation to the program’s requirements. Work on your weaknesses and continue to hone relevant skills.
• Read extensively in the field and keep up-to-date on regional and global developments.
• Join communities of finance professionals to build your network and be exposed to the latest knowledge in the discipline.

Skills You Gain from Earning a PhD in Finance

The most important skills you learn as a doctor of finance include:

• Communication skills, including writing and presentation skills
• Data analytical skills
• Economics and accounting skills
• Critical thinking skills
• Mathematical skills
• Analytical software skills
• Management and leadership skills
• Problem-solving skills

PhD Programs in Finance FAQs

How long does a phd in finance take.

PhD programs in finance usually take between three and eight years to complete.

Is It Worth Getting a PhD in Finance?

A PhD in Finance is a qualification that’s in high demand today. It is a terminal degree and can help you get top-level jobs with lucrative salaries in corporate or large organizations.

How Much Can You Make With a PhD in Finance?

With a finance doctorate, you can expect to earn a salary anywhere from around $45,000 to $150,000, depending on your experience, role, and the organization you work for. According to the BLS, the average salary for finance PhD holders is $131,710 .

What Do You Need To Get a PhD in Finance?

The admissions requirements vary depending on the program, but you’ll typically need a bachelor’s or master’s degree in finance. The programs can take three to eight years of coursework and research.

To apply, you’ll usually need to submit:

• Application
• Academic resume
• Academic transcripts
• Recommendation letters
• GRE or GMAT score
• Personal essay

Final Thoughts

With a doctorate in finance, you can build a rewarding career in academia, research, or the business sector. Like any doctorate, these programs ask for dedication and hard work. By planning early, you’ll set yourself up to pursue one of the best PhD programs in finance.

For more on how to build your career in the field, take a look at our guides to the best master’s degree in finance , the highest paying PhDs , and fully-funded PhD programs .

Lisa Marlin

Lisa is a full-time writer specializing in career advice, further education, and personal development. She works from all over the world, and when not writing you'll find her hiking, practicing yoga, or enjoying a glass of Malbec.

• Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ 12 Best Laptops for Computer Science Students
• Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ ACBSP Vs AACSB: Which Business Program Accreditations is Better?
• Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ BA vs BS: What You Need to Know [2024 Guide]
• Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ The 19 Best MBA Scholarships to Apply for [2024-2025]

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Money blog: Energy bills 'to rise 10% in October' as wholesale costs head up again

Welcome to the Money blog, your place for personal finance and consumer news and tips. Enjoy our Weekend Money content below and we'll be back with live updates on Monday - when we'll also have a Q&A on energy prices. Submit a question below.

Sunday 30 June 2024 09:34, UK

Weekend Money

• Winter energy bills projected to rise for millions of households - submit a question for Q&A on Monday above
• How to split housework fairly with your partner
• Ofgem urged not to lift ban on acquisition-only energy tariffs
• Your comments : Paying off a mortgage into retirement and new cars turning faulty

Essential reads

• A week when probable future of mortgage rates became clearer
• Women in Business : How accident in cafe and £400 turned into a genius business idea that's about to go global
• Money Problem : 'I bought a new car but it's been back six times with same fault - what can I do?'
• How to stop your car from being stolen - or even 'cannibalised'
• Best of the Money blog - an archive

Ask a question or make a comment

Winter energy bills are projected to rise significantly due to an uptick in the wholesale market, according to a closely watched forecast.

Market specialist Cornwall Insight released an updated winter forecast ahead of the latest price cap change kicking in on Monday.

Britons who pay by direct debit will see their typical annual bill for gas and electricity go down 7%, or £122, to £1,568 this week until 1 October.

However, a 10% rise is then expected, taking the annual bill for a typical household back up to £1,763, Cornwall predicts.

This is actually slightly lower than its previous forecast - but still represents bad news for Britons who may have thought energy bills were on a linear path down following two years of sky-high prices.

"The drop in forecasts for October are positive, but we need to keep this in perspective," the Cornwall report says.

"We are still facing an average 10% increase in bills from October, and as winter approaches this will put a strain on many household finances."

We'll have experts from Cornwall Insights and consumer group Which? answering your energy-related questions here in the Money blog on Monday afternoon - so whether it's about why bills could rise again or if now is a good time to switch, submit your query above.

By Jess Sharp , Money team

Splitting up household jobs, whether that be cleaning, washing or life admin, is an issue that affects a lot of couples. 

Starling Bank found women do a total of 36 hours of household tasks and admin per week - equivalent to a full-time job. 

This is nine hours more than men - and yet men believe they do the majority in their household. The average man estimates they do 52% of work overall.

It's the discrepancy between perception and reality (and, of course, this can work both ways) that leads to arguments.

Couples who don't divide the housework equally have roughly five arguments about housework each month - rising to eight for couples who rely on just one person for the work.

We spoke to relationship expert Hayley Quinn about the best ways to split household work - and how to deal with arguments should they arise with your partner. 

She explained that it's necessary to be "transparent" when deciding how to split the workload - but also to be flexible in order to find a solution that suits all involved. 

While a 50/50 split might be your idea of perfection, Hayley said it was "almost inevitable that one partner may take on slightly more of the load" at different periods of time. 

"Striving for perfect 50/50 fairness at all times is a really nice ideal, but it just may not be that practical for modern life," she said. 

She said some jobs may be more visible than others, like cleaning, sorting out the washing, and taking the bins out.

Other jobs can take up just as much time and resource, but will fly under the radar. She gave the examples or sorting out travel insurance or changing over internet provider. 

How should you approach a conversation with your partner about splitting the work? 

To start off, Hayley said you should enter the conversation with a positive mindset - think how you are both contributing to the relationship in different ways.

"When you're having these conversations, it's not that many people are sitting around feeling like they're not contributing," Hayley said. 

"In fact, I think if there's a discrepancy in how people contribute, it's just due to a lack of awareness as to what the other partner does, and some chores are just more obviously visible than others."

Try to avoid starting the chat with the perspective that you are working a lot harder than your partner and they're not pulling their weight. 

"That way, you start from a place of we're all on the same team," she said. 

"When you're doing that as well, it's really important not to make statements which assume what the other partner is thinking, feeling, or contributing. 

"So, for instance, saying something like 'I'm always the one that's picking the kids up from school and you never do anything',  becomes easily very accusational, and this is when arguments start.

"Instead, most partners will be much more receptive if you simply ask for more help and assistance." 

When asking for help, Hayley said it's important to ask in a way that's verbal and clear - don't assume your partner is going to intuitively know what share of household chores to take on if you just complain. 

"In a nice way, explicitly ask for what you want. It could be something like saying, 'Look, I know that we're both working a long week, but I feel like there's so much to do. It would be really helpful if... I'd really appreciate it if you take over lunch,'" she explained. 

"Again, start from a place of appreciation. Acknowledge what your partner contributes already, and be explicitly clear as to what you would like them to do. Phrase it as a request for their help." 

She also said some people can feel protective of how jobs are completed, and learning to relinquish that control can be helpful. 

"If you want it to feel more equitable, you have to let your partner do things in their own way," she said. 

What happens if that doesn't work? 

If you find the conversations aren't helping, you can always try organising a rota, Hayley said. 

She recommended using Starling Bank's Share the Load tool to work out your chore split. 

However, she said if you feel there are constant conversations and nothing is changing then the issue is becoming more about communication than sharing the workload. 

"It's actually about someone not hearing what you're trying to communicate to them, so it's more of a relationship-wide issue," she said. 

She advised sitting down and trying to have another transparent verbal conversation, making it clear that you have spoken about this before and how it's making you feel in a factual way, without placing blame. 

Using phrases like "I've noticed" or "I've observed" can help, she said. 

If after all that, the situation still isn't getting better, she said it's time to consider confiding in friends or family for support, or seeing a relationship counsellor. 

The oldest and most prestigious tennis event in the world returns on Monday, with the best of the best players to battle over two weeks to be named champion.

Crowds in their thousands will flock to Wimbledon to enjoy a spot of sport - as well as the range of food and drink on offer.

It's not the cheapest day out, with a cool cup of Pimms setting you back just under £10 and a bottle of water coming in at nearly £3.

But did you know that despite souring inflation in recent years sending food prices through the roof, one fan favourite - the quintessentially British strawberries and cream combo - has stayed at the same price since 2010?

A pot of the sweet snack costs just £2.50, making it one of the more affordable offerings at the All England Club. It has been served up there since the very first Wimbledon tournament in 1877.

Perdita Sedov, Wimbledon's head of food and beverage, previously told The Telegraph the price freeze "goes back to a long-standing tradition" of strawberries and cream being associated with the championship.

"It's about being accessible to all," she said.

According to the Wimbledon website, each year more than 38.4 tonnes of strawberries are picked and consumed during the tournament.

Ofgem is being urged not to lift a ban on acquisition-only energy tariffs (deals that are available only to new customers, not existing ones).

A coalition of consumer organisations and energy companies led by Which? has penned a letter to the government regulator for electricity and gas warning it of the risk of a "return to a market which discriminates against loyal customers". 

They have also raised the potential impact on customers in debt, who may not be able to switch but could also find themselves struggling to access a better deal with their current supplier under the plans. 

The letter also notes the "very recent history" when more than 30 suppliers went bust - many after trying to win customers with unsustainably cheap tariffs.

Ofgem has said it could remove the ban on acquisition-only tariffs from 1 October but consumer choice website Which?  has research that shows the public are opposed to cheap deals that exclude existing customers, with 81% feeling it would be unfair if their supplier was offering cheaper deals to new customers only. 

The consumer champion has signed the letter to Ofgem alongside E.ON, Octopus, So Energy, Rebel Energy, End Fuel Poverty Coalition, Citizens Advice and Fair by Design.

Two topics dominated our inbox this week.

Many readers got in touch about our Weekend Money feature on older Britons who face having to work past pension age to pay off long-term mortgages.

Lots of you share the fears of those we spoke to in the feature...

I am in my 70s with still about five years to go on my mortgage. It stands at 30k on a 300k house. The mortgage repayments are £800 a month, this doesn't sound much but on a static pension it is massive and I am literally on the point of not having sufficient money to pay it. Red

I was supposed to retire in 2.5 years at 66 and 4 months, my mortgage finishes when I'm 70. I was paying off extra (double) on my previous rate to reduce an interest only mortgage, but the recent increases in mortgage rates have meant I'm paying off hardly any. AVB

I'm 67 and still trying to pay off a mortgage that has another five years to run. I can't stop working and do over 10 hours a day, 5 days a week. Keith

My problem is going to be paying off an interest-only mortgage. More than anything I wish I hadn't changed when I had my twins but we couldn't make ends meet at the time. Sazavan

Six years ago I reached the age of 70 and my interest-only mortgage ended - to extend it was impossible with the conditions attached. This then threw me into the rental market, paying more than my mortgage. Now I am facing eviction from the rental due to it being sold. Marianj

We also heard from a mortgage adviser, whose recommendations matched those of Gerard Boon, the managing director of online mortgage broker Boon Brokers, who we spoke to for the feature...

I am a mortgage adviser in Leicestershire and have found an increasing number of people asking to go as long as possible past normal retirement age. I always point out that it's great to have lower payments in the short term but you will need to work to 75. There's no choice. Semaine

Onto the second topic that dominated your correspondence, and we were sorry to learn that lots of you face similar issues as reader Adam, who has had to take his faulty car back to the garage six times - and is still not convinced it is fixed. 

Scott Dixon, from The Complaints Resolver , was on hand to help break down what Adam could do for our Money Problem feature - read his advice here:

Same thing happened to me, except that they didn't let me refund the vehicle and claimed it was my fault even though I told them about the issue during the six months' warranty multiple times... they barely replied. K

I have bought a used car and there is an engine management light on. The garage where I bought it from has since changed name and moved premises (found out by accident). When I call to book in I am told to expect a call back or the mechanic will ring me but they never do. Andy D

I have taken my car to Halfords four times in the last 14 months. Each time they guarantee me it's fixed and within a week it's back to normal. Can I get it repaired elsewhere and bill Halfords? Simon

I have a JAG SVR that's been faulty since day one, the garage sent me home with it faulty and not working correctly. I have tried to reject it but the finance company are playing David versus Goliath... we can prove issues from day one, we have two vehicle reports to back it up. Jezza

Have a Nissan Juke, which has a seat issue where it sinks on its own… Nissan saying it's not a manufacturing fault, but "user error". Where do I stand in getting it fixed? Technical team keeps fobbing it off as our fault. Esmith97

If you're in a position like this, do check out Scott Dixon's advice in the feature above.

The Money blog is your place for consumer news, economic analysis and everything you need to know about the cost of living - bookmark news.sky.com/money.

It runs with live updates every weekday - while on Saturdays we scale back and offer you a selection of weekend reads.

Check them out this morning and we'll be back on Monday with rolling news and features.

The Money team is Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young, Ollie Cooper and Mark Wyatt, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.

Starting from next month, gamers will be able to play Xbox titles like Fallout 4, Starfield and Fortnite using Amazon Fire TV.

A new upgrade coming to the Fire TV 4K devices transforms your television into a console, thanks to Xbox Cloud Gaming.

You'll need to be a member of Xbox Game Pass Ultimate to take advantage, plus you'll need a compatible controller and a solid internet connection.

"One of the biggest benefits of cloud gaming is the ability to play premium games without needing a console," Amazon explained.

"The Fire TV Stick may be compact, but it can stream and run graphically intense Xbox games like Senua's Saga: Hellblade II.

"This portability also means you can easily move your cloud gaming setup from the living room TV to a different room or even take it on the road.

"As long as you have a solid internet connection and your compatible Fire TV Stick, and a compatible controller, you can take your Xbox Game Pass games and saved progress travels with you."

Once downloaded, the Xbox app is designed to offer a smooth and seamless experience. Here’s how it works:

• Install and launch the Xbox app from your Fire TV device;
• Sign in with your Microsoft account to play. If you’re an Xbox Game Pass Ultimate member, you’ll have instant access to hundreds of cloud-enabled games;
• Connect a Bluetooth-enabled wireless controller. Controllers like the Xbox Wireless Controller, Xbox Adaptive Controller, PlayStation DualSense, or DualShock 4 controller are all compatible.

A new Amazon Fire TV Stick 4K will set you back £59.99 on Amazon, while a new Xbox Wireless Controller costs £49.59.

Xbox Game Pass Ultimate currently costs £1 for the first 14 days for new members, then is billed at £12.99 per month.

House prices are overvalued by thousands of pounds, according to a major property company.

The typical property is £20,000 more than is affordable to the average household, says Zoopla.

But rising incomes and longer mortgage terms mean the "over-valuation" is expected to disappear by the end of the year.

Zoopla's report said: "House prices still look expensive on various measures of affordability.

"We expect house price inflation to remain muted, likely to rise more slowly than household incomes over the next one to two years."

The average house price is around £264,900 – but according to Zoopla's calculations, the affordable price is £245,200.

"A new government will add a dimension of political stability when the autumn market starts in September and even if the [Bank of England base] rate is not lower by then, a cut will be imminent," said Tom Bill, head of UK residential research at estate agent Knight Frank.

"Given that mortgage rates will steadily reduce as services inflation comes under control, we expect UK house prices to rise by 3% this year."

Zoopla's over-valuation estimate was reached by comparing the actual average house price in its index with an "affordable" price, which was calculated based on households' disposable incomes, average mortgage rates and average deposit sizes for home buyers.

It's one of the most iconic and popular music festivals in the world, and it's notoriously hard to get a ticket.

Glastonbury has rolled around once again and roughly 210,000 people have flocked to Somerset this year as Dua Lipa, Coldplay and SZA headline the UK's biggest festival this weekend.

Those in the crowd are in the lucky minority — an estimated 2.5 million people tried to get tickets for this year's event, meaning the odds really aren't in your favour if you fancy going.

Tickets routinely sell out within an hour of going on sale, and that demand is unlikely to decrease next year, given the festival will likely take a fallow year in 2026.

So, if you're feeling jealous this year, how do you get tickets for Glastonbury 2025, and how can you give yourself the best possible chance?

We've run through all the available details as well as some tips so you're best prepared when the time comes.

Registration details:  Before potential festivalgoers get the chance to buy tickets, they must register on the official website.

One of the reasons this is done is to stop ticket touting, with all tickets non-transferable. Each ticket features the photograph of the registered ticket holder, with security checks carried out to ensure that only the person in the photograph is admitted to the festival.

Registration is free and only takes a few minutes. You will be asked to provide basic contact details and to upload a passport-standard photo.

Registration closes a few weeks before tickets are released.

Where to buy tickets:  Tickets can be bought exclusively at  glastonbury.seetickets.com   once they become available.

No other site or agency will be allocated tickets, so if you see anyone else claiming to have Glastonbury tickets available for purchase, it's most likely a scam.

When tickets go on sale: We don't know the details for next year yet - but Glastonbury ticket sales usually take place in October or November of the year before the festival. 

This year's ticket sales began, following a delay, in November 2023. Coach tickets typically go on sale a few days before (traditionally on a Thursday), with general admission tickets following on the Sunday morning a few days later.

For those that miss out, there's also a resale that takes place in April for tickets that have been returned or for those with a balance that has not been paid.

This year's April resale took place on 18 April (for ticket and coach travel options) and 21 April (general admission tickets and accommodation options).

How much it costs:  General admission tickets for this year's festival cost £355 each, plus a £5 booking fee. That's an increase on last year's price of £335 each, which was also an increase on the 2022 price of around £280.

So, we can probably assume that ticket prices will go up once again for next year's festival. 

Remember, there are options to pay for your ticket in instalments, so you won't have to pay the full price in one go if you don't want to. All tickets are subject to a £75 deposit, with the remaining balance payable by the first week of April.

It's also worth noting that Glastonbury is a family festival, and that's reflected in the fact that children aged 12 and under when the festival takes place are admitted free of charge.

TIPS FOR THE BIG TICKET SALE DAY

The scramble for tickets when they go on general sale is nothing short of painstaking, with demand far outweighing supply.

Here are some tips to give you the best possible chance of bagging tickets:

Familiarise yourself with the website: You may see a reduced, bare-looking version of the booking page once you gain entry. The organisers say this is intentional to cope with high traffic and does not mean the site has crashed, so be sure not to refresh or leave the page.

Once you reach the first page of the booking site, you will need to enter the registration number and registered postcode for yourself and the other people you are attempting to book tickets for.

When you proceed, the details you have provided will be displayed on the next page.

Once you have double checked all of your information is correct, click 'confirm' to enter the payment page, where you will need to check/amend your billing address, confirm your payment information, accept the terms and conditions, and complete the checkout within the allocated time.

Timekeeping: You can get timed out if you don't act fast, so it's a good idea to have your details saved on a separate document so you can copy and paste them over quickly.

You might also have to approve your payment, which could mean answering security questions from your card issuer. Have a device on hand to ensure you're ready for this.

Internet connection: This should go without saying, but you won't stand a chance without a solid internet connection.

Avoid trying to rely on your mobile phone signal, and politely ask those you might share the internet with to delay any online activity that might slow your connection.

Don't give up: Until the page tells you that tickets have sold out, you still have a chance. 

Shortly before that point, there will be a message saying 'all available tickets have now been allocated,' which users often think means their chances are up. 

What it actually means is that orders are being processed for all the tickets that are available. But if somebody whose order is being processed doesn't take our previous advice and runs out of time, their loss could be your gain.

Multiple tabs and devices: Glastonbury advises against its customers trying to run multiple tabs and devices to boost their chances of getting a ticket.

Glastonbury's website says running multiple devices simultaneously is "a waste of valuable resources, and doesn't reflect the ethos of the festival".

"Please stick to one device and one tab," it adds, "so that you can focus on entering your details without confusing your browser and help us make the ticket sale as quick and stress free as possible for all."

Shoppers have been buying bigger TVs to enjoy this summer's European Championships, according to the electrical retailer Currys.

The chain said UK sales were up by more than 30% in the past month, with "supersize" screens — 85-inch and above — selling well in the run-up to the Euros.

"Having a third of the TV market and the Euros being a big event for many people, we're seeing that super-sizing trend keep on giving," said Currys chief executive Alex Baldock.

The most popular, and also cheapest, 85-inch TV on the Currys website costs £999. 

The most expensive super-size TV is a 98-inch offering from Samsung that will set you back £9,499.

Currys reported adjusted pre-tax profits of £118m for the year to 27 April. That represented a 10% increase from the previous year's profits of £107m.

Like-for-like sales for Currys UK and Ireland declined by 2% to £4.97bn in the 12 months to 27 April, with consumer confidence knocked by high inflation levels and rising interest rates.

"We can see our progress in ever-more engaged colleagues, more satisfied customers and better financial performance," Mr Baldock added.

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