harvard phd economics stipend

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The Ph.D. Program in the Department of Economics at Harvard is addressed to students of high promise who wish to prepare themselves in teaching and research in academia or for responsible positions in government, research organizations, or business enterprises. Students are expected to devote themselves full-time to their programs of study.

The program prepares students for productive and stimulating careers as economists. Courses and seminars offered by the department foster an intellectually active and stimulating environment. Each week, the department sponsors more than 15 different seminars on such topics as environmental economics, economic growth and development, monetary and fiscal policy, international economics, industrial organization, law and economics, behavioral economics, labor economics, and economic history. Top scholars from both domestic and international communities are often invited speakers at the seminars.  The Harvard community outside of the department functions as a strong and diverse resource. Students in the department are free to pursue research interests with scholars throughout the University. Faculty of the Harvard Law School, Kennedy School of Government, and Harvard Business School, for example, are available to students for consultation, instruction, and research guidance. As a member of the Harvard community, students in the department can register for courses in the various schools and have access to the enormous library resources available through the University. There are over 90 separate library units at Harvard, with the total collections of books and pamphlets numbering over 13 million.  Both the department and the wider University draw some of the brightest students from around the world, which makes for a student body that is culturally diverse and likely unequaled in the range of intellectual interests of its members. These factors combine to add an important dimension to the educational process. Students are able to learn from one another, collaborate on research projects and publications, and form bonds that are not broken by distance once the degree is completed and professional responsibilities lead them in different directions.

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Funding & Scholarship: Graduate Programs

Financial support for ph.d. students, all students admitted into our ph.d. program receive full financial support., this support includes tuition, fees, $1,004 in transportation and dental subsidies (as of ay24-25), and a cost-of-living stipend ($3655 per month in ay23-24 and $4083 per month before taxes in ay24-25)..

Support is independent of need provided a student remains in good academic standing and is making satisfactory progress towards his/her Ph.D. degree. Students are expected to complete their Ph.D. requirements in four to six years. Financial support takes several forms: fellowships, teaching fellowships, and research assistantships. Ordinarily, first-year Ph.D. students are supported with full fellowships so that they can devote their time to coursework.

For the classes entering in Fall 2024 and beyond : SEAS PhD students are expected to complete two sections of teaching in SEAS in their second year or spread across their second and third years. Both sections may be completed concurrently in a single course. Their research assistantship will be adjusted accordingly during the semester(s) in which they are teaching fellow (TF). The academic requirement for the PhD degree is one section of teaching in SEAS. The student and their research advisor may arrange to replace the second section of teaching with a research assistantship. Beyond the first year, when students are in a better position to teach and assist in research, support is ordinarily provided through research assistantships, or a combination of a teaching fellowship and a research assistantship. For more detailed information, please visit the following pages: GSAS Tuition and Fees  G SAS Financial Support for PhD Students

External financial support for Ph.D. students

Applicants and current students are encouraged and expected to apply for all non-Harvard scholarships for which they are eligible, especially those offered by the  National Science Foundation (NSF) Graduate Research Fellowship Program  and  National Defense Science and Engineering Graduate Fellowship (NDSEG) . 

Each year, many SEAS students secure fellowships from external agencies.  Should an incoming student be awarded and accept any fellowship external to Harvard, it is the expectation that the student will utilize these funds in the first year of study in place of Harvard funding.   In advanced (G2+) years in the graduate program, students with external fellowships are advised to have a discussion with their financial aid officers from Harvard Griffin GSAS and SEAS about how to best utilize the remaining years of funding based on their activities and academic requirements.

To ensure equitable treatment of all students, the coordination of external award benefits with a student’s existing funding package is determined by the Harvard Griffin GSAS financial aid officer in consultation with SEAS.

Currently, PhD students with external support are eligible for a SEAS-sponsored academic incentive.  PhD students who bring in open, competitive external fellowships that are equal to 50% or more of total their support (tuition/fees + stipend) will receive a supplemental award of $3,000 in the first year of the external fellowship.  PhD students who bring in open external competitive external fellowships that are not 50% or more of their total support and are at least $10,000 (tuition/fees + stipend or salary) will receive a supplemental award of $1,000.  The full $3,000 bonus may also be awarded in certain cases of multi-year fellowships depending on the total amount of support provided.This policy is subject to review and change.

Financial support for terminal masters students (M.E. & S.M.)

While financial aid is not available for master’s students in our M.E. and S.M. programs, there are a variety of funding opportunities available. Prospective students are encouraged to apply for independent grants and fellowships to fund their studies.  Information about tuition and fees can be found here . Students in our Computational Science & Engineering or Data Science programs-should visit this page and also may contact the  GSAS Financial Aid Office  to learn more.

Students in the  MS/MBA:Engineering Sciences program  are eligible to apply for need-based  HBS Fellowships  and student loans in both years of the program.

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Direct Deposit is the most efficient way for you to receive your stipend. Once hired, you will receive an email from [email protected] prompting you to login to PeopleSoft and enter your direct deposit details. Once you receive this email, enter your bank account information online by going to HARVie and clicking on the PeopleSoft link at the top right. Once in PeopleSoft, within the Self Service menu, click on My Pay and then Deposit. If you want to review any paystubs, you can also do that through the Self Service menu in PeopleSoft by clicking on the Paychecks option. Attempting to enter this information before receiving the email from our office will result in an error.  Stipends are paid by the first of each month.

Nonresident Alien Stipend/ Scholarship Recipients

If you are a Nonresident Alien stipend/scholarship recipient   and you are on a F or J visa, your stipend/scholarship payment will be taxed at 14% in the absence of a previously claimed tax treaty benefit. All other visa types will be taxed at 30%. At the end of the tax calendar year, you will receive an IRS Form 1042-S from Harvard detailing your scholarship income and any tax withholding or treaty benefits claimed.  You will use this form when you file your US Tax Return with the IRS. If you have questions or need further information, please contact International Payee Tax Compliance .   The Harvard International Office  also has information on taxes.

Stipend/ Scholarship Recipients that are US Citizens or Permanent Residents

Harvard is not required to report or withhold taxes on your stipend/ scholarship, and no tax document will be issued to you. However, you are required to report any taxable amounts of your worldwide income to the IRS when you file your taxes.

Due to the impact of the pandemic, Harvard University is reevaluating all payment processes for students. As new information is assessed, you may receive additional updates that relate to stipend/scholarship payments throughout the fall semester.

This webpage is for informational purposes only, and should not be considered tax, financial or legal advice. Please consult your own tax or financial advisor with any questions.

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PhD Stipend Survey Results

The living wage ratio (LW ratio) normalizes each gross pay entry to the local living wage. The purpose is to allow you to quickly compare the pay received by students at universities in different cost-of-living areas. See the FAQ for more information.

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8 Best PhDs That Offer The Highest Stipends

Table of Contents

Choosing a PhD program is an important decision

Whether pursuing higher education for personal or professional goals, the PhD program you choose can significantly impact your career outcomes and financial investment. Each program has different areas of focus, resources, and funding structures to consider. As a prospective student, researching program details like average stipend amounts is essential for determining the best fit.

This article explores 8 top PhD programs that routinely offer among the highest stipends in their respective fields. By outlining each program’s funding details and career prospects, readers gain a balanced understanding to inform their decision. Let’s examine these highly ranked, well-funded options to uncover which may be the ideal choice.

Computer Science PhD at Stanford University

– Average Annual Stipend: $35,000+

– Stanford is ranked #1 for Computer Science and offers generous funding for all admitted PhD students. The prestigious program attracts top faculty and industry partnerships, providing career opportunities at major tech companies.

– The five-year program emphasizes both practical and theoretical learning through research apprenticeships. Students gain expertise across fields like artificial intelligence, databases, networking, and more.

– In addition to the competitive stipend, Stanfords offers tuition remission and student health insurance. Graduates commonly land highly paid jobs in software engineering, data science, machine learning, and more at employers recruiting on campus each year.

Economics PhD at Harvard University

– Average Annual Stipend: $34,000

– Ranked #1 globally for Economics, Harvard guarantees five years of full funding including stipend, tuition, fees and health insurance for admitted PhD candidates.

– The program focuses on advanced quantitative and empirical training. Students take coursework in various subfields and conduct original research under top faculty.

– Beyond the prestigious degree, Harvard Economics provides extensive career services and networking opportunities. Alumni frequently secure posts as professors, economists at banks/consulting firms, data analysts and more with starting salaries over $150k.

Physics PhD at California Institute of Technology

– Average Annual Stipend: $32,000

– Caltech’s Physics department consistently ranks #1 in the nation and world. Their doctoral program offers admit students full funding for five years.

– Small class sizes allow for close mentorship from renowned researchers. Studentsdelve into theoretical and experimental work across various focus areas like astrophysics, particle physics and more.

– In addition to research, the program emphasizes communication, leadership and entrepreneurial skills. Graduates easily find work in academia, national labs, and private sector R&D roles with companies like SpaceX, Amazon and more.

Neuroscience PhD at Columbia University

– Ranked among the top neuroscience programs globally, Columbia offers full funding packages including stipend, tuition, fees and health insurance for all admitted PhD candidates.

– Interdisciplinary training incorporates coursework across fields from molecular/cellular neurobiology to cognitive neuroscience and computational modeling.

– State-of-the-art research facilities and collaborative opportunities with affiliated hospitals enrich learning. Graduates pursue careers in academia, biotech/pharma research, medical centers and more.

Biomedical Engineering PhD at Johns Hopkins University

– Average Annual Stipend: $31,000

– Top-ranked for Biomedical Engineering, Johns Hopkins guarantees 5 years of full funding for admitted PhD students including stipend and tuition remission.

– Cutting-edge research spans areas such as tissue engineering, bioimaging, nanomedicine and more. Interdisciplinary training prepares graduates for a diverse range of career paths.

– Networking events, career advising and proximity to local life sciences clusters ease transition to private sector roles in medtech startups, medical device corporations and more.

Chemistry PhD at University of California, Berkeley

– Average Annual Stipend: $30,500

– Consistently ranked #1 globally for Chemistry, UC Berkeley’s PhD program offers competitive stipends and full tuition waivers renewable for 5-6 years.

– Wide array of research groups allows in-depth focus on areas including organic, inorganic, physical, analytical and biochemistry subfields.

– Outstanding placement rates into prestigious academic positions, national labs, and pharmaceutical/materials industry careers leveraging strong alumni network.

Materials Science PhD at Massachusetts Institute of Technology

– Average Annual Stipend: $30,000

– Ranked #1 globally, MIT’s Materials Science and Engineering department guarantees 5 years of full funding including competitive stipend.

– Interdisciplinary program emphasizes experimentation and computational modeling across nanoscience, biomaterials and more.

– Graduates pursue roles in semiconductor fabrication, clean energy, medtech, aerospace and other industries drawn to MIT’s culture of innovation and entrepreneurship.

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Mechanical Engineering PhD at Stanford University

– Top-ranked Mechanical Engineering PhD, Stanford provides full funding packages including stipend, tuition, fees and health insurance.

– Broad research portfolio from robotics and controls to energy systems and biomechanics. Collaborations with neighboring departments enrich learning.

– Career outcomes range from academia to roles at major tech companies, aerospace corporations, national labs and more leveraging access to Silicon Valley network and recruiting.

Here are a few additional sections that could be added:

Additional Well-Funded PhD Programs

– Chemical Engineering PhD at MIT – Average Stipend: $29,000 – Prestigious program with cutting-edge research across energy, nanotech, biomedical fields. Graduates pursue careers in tech industry, national labs, academia.

– Mathematics PhD at Princeton University – Average Stipend: $28,500 – Ranked #1, Princeton Math PhD offers full funding packages. Students gain strong foundations in pure/applied mathematics. Leads to careers in data science, quant finance, education and more.

– Electrical Engineering PhD at Caltech – Average Stipend: $28,000 – Interdisciplinary focus areas include communications, computation, nanophotonics. Graduates thrive in Silicon Valley roles at major tech companies pursuing innovations.

– Statistics PhD at University of Washington – Average Stipend: $27,500 – Highly ranked program offers generous funding and proximity to local data science roles. Graduates pursue analytic careers in healthcare, finance, tech with competitive salaries.

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Factors to Consider Beyond Stipends

While stipend amounts are an important consideration, other factors like program prestige, research opportunities, career outcomes, and cultural fit should also be evaluated:

– Research portfolio – Does the program align with your academic interests?

– Faculty reputation – Will renowned professors/mentors enhance your learning?

– Career services – How well does the university assist with professional development and job placement?

– Location – Are you comfortable with the cost of living and overall environment?

– Culture – Will the program atmosphere motivate your success and enjoyment?

Weighing all relevant factors will help identify the ideal PhD fit beyond starting stipend amounts alone. Top programs provide excellent training and funding to set students up for rewarding career paths.

What factors determine PhD stipend amounts?

PhD stipends vary based on several factors like program prestige/rankings, cost of living in location, and hard sciences typically receiving higher funding. Top institutions providing full funding packages aim to attract top talent globally with competitive stipends covering basic living expenses.

Is the stipend taxable income?

Yes, PhD stipends are considered taxable income by the IRS. However, students do not pay Social Security or Medicare taxes. You’ll need to file annual tax returns reporting your stipend amounts.

What other expenses are covered besides stipend?

Most programs providing full funding also cover tuition/fees, student health insurance and in some cases offer additional bonuses. However, stipends are intended for basic living costs only—students often take out loans or outside funding to cover additional expenses like computers, books and travel.

How long does PhD funding typically last?

The standard duration that top programs guarantee full funding is 5 years. However, many soft-capping PhD funding at 5-6 years total. Timelines can vary depending on dissertation progress, with possibilities for scholarships/assistantships to extend for a 7th year in some cases.

Are there other PhD funding sources besides stipends?

Yes, students can seek outside scholarships, fellowships, traineeships or grants to supplement living costs during PhD studies. These additional sources range from private foundations, government programs like the NSF to university/department level opportunities. Strong applicants can stack multiple funding packages.

What career outcomes can PhD holders expect?

Top PhD graduates enjoy wide career options across industries and sectors. Common paths include academic research careers as professors or national lab scientists. PhDs also find roles in government, non-profits, management consulting, pharmaceutical/biotech R&D, data science and more with highly competitive starting salaries well over $100k.

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As the founder and content strategist of Subteller, Subchief oversees all aspects of content creation and website management. He works closely with freelance writers and editors to develop valuable, informative articles on topics related to immigration, careers, legal issues and more.

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PhD student funding packages may include stipends for living expenses, as indicated in their Notice of Financial Support. Questions regarding the disbursement schedule for stipends should be directed to the student’s assigned  financial aid officer .

Please note that Harvard stipends cannot be disbursed unless the student has formally accepted the award and completed all required forms in the Admissions Portal (incoming students) or the Student Aid Portal (continuing students).

Stipends are disbursed to students on or around the first day of each month. For those students enrolled in the University’s  direct deposit  program, stipend disbursements are deposited into the designated bank account. Those without an active direct deposit agreement in place will receive stipend disbursements via paper checks, which are sent to the mailing address of record in the  my.harvard student information system. It is essential that students keep the contact information in my.harvard current at all times.

Stipends are subject to US federal income tax. US citizens and permanent residents should note that their stipends are not subject to income tax withholding, so it may be necessary to make estimated tax payments over the course of the year. For more information about taxes, see the  Student Financial Services  website. 

There are restrictions on holding teaching appointments while receiving stipend support. Please refer to the teaching policies for more information.

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