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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.

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See the 10 Best Finance MBA Programs

Check out the business schools that topped the U.S. News rankings of finance programs.

Explore the best schools for finance.

Having an MBA can help boost your salary, but having a specialized MBA in a field like finance can really improve your pay and job opportunities. While it might not be for everyone, the world of finance can put students on Wall Street, interacting with some of the most prestigious and high-paying banking and corporate finance firms. Here are the 10 Best Business Schools for Finance .

(Daryl Marshke | Michigan Photography)

10. University of Michigan—Ann Arbor (Ross)

Location: Ann Arbor, Michigan

Overall Best Business Schools rank: 13 (tie)

Acceptance rate (fall 2020): 37%

Key fact: This business school has multiple student-run investment funds and advertises itself as having more of them than any other MBA program. Student investors here have collective control over $10 million, according to the school website.

Learn more about the Stephen M. Ross School of Business .

(UCLA Anderson) |

9. University of California—Los Angeles (Anderson)

Location: Los Angeles

Overall Best Business Schools rank: 18 (tie)

Acceptance rate (fall 2020): 34.4%

Key fact: Four people on the faculty at this business school have been president of the American Finance Association. Academic discoveries at this B-school have helped banks set appropriate interest rates.

Learn more about the Anderson School of Management .

(Amelia Kunhardt | Harvard Business School)

8. Harvard University (MA)

Location: Cambridge, Massachusetts

Overall Best Business Schools rank: 5 (tie)

Acceptance rate (fall 2020): 9.2%

Key fact: Harvard offers its MBA students a variety of finance-related elective courses, including one that focuses on creating value through corporate restructuring and another that concentrates on financial management of smaller firms.

Learn more about Harvard Business School .

(David Schmitz | UC—Berkeley)

7. University of California—Berkeley (Haas)

Location: Berkeley, California

Overall Best Business Schools rank: 7 (tie)

Acceptance rate (fall 2020): 23.3%

Key fact: Berkeley's finance faculty includes experts on asset pricing, credit ratings, financial regulation, exchange rate dynamics and securities trading.

Learn more about the Haas School of Business .

(Stanford Graduate School of Business) |

6. Stanford University (CA)

Location: Stanford, California

Overall Best Business Schools rank: 1

Acceptance rate (fall 2020): 8.9%

Key fact: Stanford's finance faculty aim to publish finance-related scholarship relevant to academic researchers, policymakers and business professionals, its website states.

Learn more about the Stanford Graduate School of Business .

(MIT Sloan School of Management) |

5. Massachusetts Institute of Technology (Sloan)

Location : Cambridge, Massachusetts

Acceptance rate (fall 2020): Not provided

Key fact: MIT offers a finance track certificate program, and MBA students who complete it receive a certificate alongside their MBA degree.

Learn more about the Sloan School of Management .

(Columbia Business School) |

4. Columbia University (NY)

Location: New York City

Acceptance rate (fall 2020): 13.6%

Key fact: Columbia MBA students interested in a particular niche within finance – such as risk management or sales, trading and research – can take a series of classes coordinated with that goal in mind.

Learn more about Columbia Business School .

(Adam Pantozzi) |

3. New York University (Stern)

Overall Best Business Schools rank : 10 (tie)

Acceptance rate (fall 2020): 29%

Key fact: NYU offers an MBA specialization in finance, and the school provides finance classes on topics ranging from valuation to volatility.

Learn more about the Leonard N. Stern School of Business .

(Matthew Gilson | University of Chicago Booth School of Business)

2. University of Chicago (Booth)

Location: Chicago

Overall Best Business Schools rank: 3

Acceptance rate (fall 2020): 27.6%

Key fact: Distinguished service professor Eugene F. Fama is often called the "father of modern finance" and is a 2013 Nobel Prize laureate in economic sciences.

Learn more about the Booth School of Business .

(Pascal Perich) |

1. University of Pennsylvania (Wharton)

Location: Philadelphia

Overall Best Business Schools rank: 2

Key fact : Wharton's finance MBA graduates land jobs in finance departments within nonfinance companies and also find work as investment bankers , asset managers and management consultants.

Learn more about the Wharton School .

(Getty Images) |

Learn more about the Best Business Schools.

Get advice on applying to business school , and check out all of the 2022 Best Graduate Schools rankings. You can also sign up for a free U.S. News account to receive content like this via email and stay up to date on education news by following U.S. News Education on Facebook ,  Twitter  and LinkedIn .

(David Schmitz) |

Highest-ranked finance MBA programs

• University of Pennsylvania (Wharton)
• University of Chicago (Booth)
• New York University (Stern)
• Columbia University
• Massachusetts Institute of Technology (Sloan)
• Stanford University
• University of California—Berkeley (Haas)
• Harvard University
• University of California—Los Angeles (Anderson)
• University of Michigan—Ann Arbor (Ross)

More From U.S. News

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Finance Graduate Programs in America

1-25 of 216 results

Harvard Business School

• Boston, MA ·
• Harvard University ·
• Graduate School
• · Rating 4.56 out of 5   9 reviews

Harvard University, Graduate School, BOSTON, MA. 9 Niche users give it an average review of 4.6 stars. Featured Review: Other says I wanna complete the "Negotiation Mastery Course" by Harvard Business School Online, where I may develop my advanced negotiation skills through immersive, real-world simulations. The course provided... Read 9 reviews.

Wharton School

• Philadelphia, PA ·
• University of Pennsylvania ·
• · Rating 4.59 out of 5   17 reviews

University of Pennsylvania, Graduate School, PHILADELPHIA, PA. 17 Niche users give it an average review of 4.6 stars. Featured Review: Master's Student says There are plenty of majors and courses to choose from. Course Match, which is the system we use to select classes allows students to create their schedule based on their preferences and class seats... Read 17 reviews.

Kellogg School of Management

• Evanston, IL ·
• Northwestern University ·
• · Rating 4.75 out of 5   20 reviews

Northwestern University, Graduate School, EVANSTON, IL. 20 Niche users give it an average review of 4.8 stars. Featured Review: Master's Student says As mentioned in the previous questions, I have not graduated yet. To this point, I feel as though it has been preparing me to lead teams and develop a successful career. Current stressor is the ROI,... Read 20 reviews.

Joseph M. Katz Graduate School of Business

• University of Pittsburgh ·
• Graduate School ·
• PITTSBURGH, PA
• · Rating 4.75 out of 5   12

Satish & Yasmin Gupta College of Business

• University of Dallas ·
• · Rating 5 out of 5   5

A. B. Freeman School of Business

• Tulane University ·
• NEW ORLEANS, LA
• · Rating 5 out of 5   1

Owen Graduate School of Management

• Nashville, TN ·
• Vanderbilt University ·
• · Rating 4.4 out of 5   5 reviews

Vanderbilt University, Graduate School, NASHVILLE, TN. 5 Niche users give it an average review of 4.4 stars. Featured Review: Master's Student says I attend my first semester in the fall of 2024. My experience so far has been amazing. I cannot wait until I start my experience. Read 5 reviews.

Olin Business School

• St. Louis, MO ·
• Washington University in St. Louis ·
• · Rating 4 out of 5   7 reviews

Washington University in St. Louis, Graduate School, ST. LOUIS, MO. 7 Niche users give it an average review of 4 stars. Featured Review: Master's Student says The enrolment process was an absolute pleasure. Being able to sit in on classes and interact with faculty and students was a fantastic opportunity. It gave me a real feel for the academic dynamic and... Read 7 reviews.

College of Science - University of Notre Dame

• Notre Dame, IN ·
• University of Notre Dame ·

University of Notre Dame, Graduate School, NOTRE DAME, IN.

• Find college scholarships

McDonough School of Business

• Washington, DC ·
• Georgetown University ·
• · Rating 4.8 out of 5   10 reviews

Georgetown University, Graduate School, WASHINGTON, DC. 10 Niche users give it an average review of 4.8 stars. Featured Review: Master's Student says So far, the experience has been great! We had an in-person residency on campus in Washington DC where we learned Tableau and valuable business analysis/presentation skills, and we are underway with... Read 10 reviews.

Carey Business School

• Baltimore, MD ·
• Johns Hopkins University ·
• · Rating 4.63 out of 5   30 reviews

Johns Hopkins University, Graduate School, BALTIMORE, MD. 30 Niche users give it an average review of 4.6 stars. Featured Review: Master's Student says Overall very good, first time for me doing online school so it’s been an adjustment but mostly the professors do a great job of keeping everyone engaged. I like that the school offers opportunities... Read 30 reviews.

Tepper School of Business

• Pittsburgh, PA ·
• Carnegie Mellon University ·
• · Rating 4.81 out of 5   16 reviews

Blue checkmark. Carnegie Mellon University, Graduate School, PITTSBURGH, PA. 16 Niche users give it an average review of 4.8 stars. Featured Review: Master's Student says Today I finished my last day of a month-long orientation for my MBA at the Tepper school of Business. I have had a great experience so far, all of the staff and alum that I have connected with have... Read 16 reviews.

Goizueta Business School

• Atlanta, GA ·
• Emory University ·
• · Rating 4.5 out of 5   4 reviews

Blue checkmark. Emory University, Graduate School, ATLANTA, GA. 4 Niche users give it an average review of 4.5 stars. Featured Review: Current Master's student says Goizueta is an incredibly diverse program where the professors have your bet interest at heart. Like most business schools, social life and networking is very important and they really emphasise this... Read 4 reviews.

D'Amore-McKim School of Business

• Northeastern University ·
• · Rating 2.5 out of 5   4 reviews

Northeastern University, Graduate School, BOSTON, MA. 4 Niche users give it an average review of 2.5 stars. Featured Review: Master's Student says Recently began my journey in the GSPA MS in Accounting/ MBA program! So far classes have been tailored to students with nonbusiness/ accounting allowing for any interested parties to join. Teachers... Read 4 reviews.

Leonard N. Stern School of Business

• New York, NY ·
• New York University ·
• · Rating 4.82 out of 5   28 reviews

Blue checkmark. New York University, Graduate School, NEW YORK, NY. 28 Niche users give it an average review of 4.8 stars. Featured Review: Master's Student says As a part-time MBA candidate at NYU Stern, I'm deeply impressed by the program's blend of academic rigor and practical application. The faculty, industry leaders in their own right, provide... Read 28 reviews.

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Carroll School of Management

• Chestnut Hill, MA ·
• Boston College ·
• · Rating 5 out of 5   2 reviews

Boston College, Graduate School, CHESTNUT HILL, MA. 2 Niche users give it an average review of 5 stars. Featured Review: Master's Student says I am currently enrolled in the part time, professional evening MBA program. So far it has brought me to communicate with like minded individuals and the professors truly want to see you succeed so... Read 2 reviews.

Claremont McKenna College

• Claremont, CA ·

Graduate School, CLAREMONT, CA.

McCombs School of Business

• Austin, TX ·
• University of Texas - Austin ·
• · Rating 4.57 out of 5   14 reviews

University of Texas - Austin, Graduate School, AUSTIN, TX. 14 Niche users give it an average review of 4.6 stars. Featured Review: Master's Student says Being in the accounting program at UT Austin has been a remarkable opportunity for me. The best part of being an accounting major at McCombs is the diverse set of classes that students can utilize to... Read 14 reviews.

College of Business - Lehigh University

• Bethlehem, PA ·
• Lehigh University ·

Blue checkmark. Lehigh University, Graduate School, BETHLEHEM, PA.

Hough Graduate School of Business

• Gainesville, FL ·
• University of Florida ·
• · Rating 5 out of 5   4 reviews

Blue checkmark. University of Florida, Graduate School, GAINESVILLE, FL. 4 Niche users give it an average review of 5 stars. Featured Review: Master's Student says The academics at UF are rigorous but prepare you for real life scenarios. The coursework is well rounded for students to be able ready for all aspects of business administration. Read 4 reviews.

Graduate School of Arts & Sciences - Boston University

• Boston University ·

Blue checkmark. Boston University, Graduate School, BOSTON, MA.

Questrom School of Business

• · Rating 4.22 out of 5   9 reviews

Boston University, Graduate School, BOSTON, MA. 9 Niche users give it an average review of 4.2 stars. Featured Review: Master's Student says Most of the professors are very knowledgable and good at teaching. Rare occasion of a professor that does not seem fit for the program. Colleagues are very knowledgable and from diverse backgrounds,... Read 9 reviews.

Wisconsin School of Business at UW Madison

• Madison, WI ·
• University of Wisconsin-Madison ·
• · Rating 5 out of 5   1 review

University of Wisconsin-Madison, Graduate School, MADISON, WI. 1 Niche users give it an average review of 5 stars. Featured Review: Master's Student says Currently, I have only taken one summer course which was well-organized. It was an introduction course to stats and programming but well designed for students with no prior experience to follow... Read 1 reviews.

Business School - University of Miami

• Coral Gables, FL ·
• University of Miami ·
• · Rating 4.45 out of 5   11 reviews

University of Miami, Graduate School, CORAL GABLES, FL. 11 Niche users give it an average review of 4.5 stars. Featured Review: Master's Student says The University of Miami’s MBA program offers a top-tier educational experience that blends rigorous academics, real-world application, and a global network. Located in Miami, a thriving international... Read 11 reviews.

Simon Business School

• Rochester, NY ·
• University of Rochester ·
• · Rating 4.6 out of 5   5 reviews

Blue checkmark. University of Rochester, Graduate School, ROCHESTER, NY. 5 Niche users give it an average review of 4.6 stars. Featured Review: Master's Student says Academic at Simon in the business analycitcs program is quite rigorous and we hit the ground running with a July start for the fall semester. Very good program. Benet Career services are outstanding... Read 5 reviews.

Cox School of Business

• Dallas, TX ·
• Southern Methodist University ·
• · Rating 4.47 out of 5   15 reviews

Southern Methodist University, Graduate School, DALLAS, TX. 15 Niche users give it an average review of 4.5 stars. Featured Review: Alum says The SMU Real Estate program offers a rigorous and comprehensive education, providing students with a strong foundation in the field. One of the best aspects of the program is its emphasis on... Read 15 reviews.

Weatherhead School of Management

• Cleveland, OH ·
• Case Western Reserve University ·
• · Rating 2.8 out of 5   5 reviews

Blue checkmark. Case Western Reserve University, Graduate School, CLEVELAND, OH. 5 Niche users give it an average review of 2.8 stars. Featured Review: Current Master's student says My time so far at the Weatherhead School of Management has been challenging, yet it has also been extremely rewarding and has opened up so many doors for me in terms of networking and expanding my... Read 5 reviews.

• New Orleans, LA ·

Blue checkmark. Tulane University, Graduate School, NEW ORLEANS, LA. 1 Niche users give it an average review of 5 stars. Featured Review: Master's Student says The Master of Finance program is a well-rounded program to help prepare you for the world of finance. It is great whether you have previous finance or business knowledge or if you are starting from... Read 1 reviews.

School of Business - Mississippi College

• Mississippi College ·
• CLINTON, MS
• · Rating 4.81 out of 5   16

University of Houston - Clear Lake

• HOUSTON, TX
• · Rating 4.65 out of 5   75

Showing results 1 through 25 of 216

Master of Finance: Is This The Right Degree For You?

Choosing a graduate program is a major decision. After all, it can be considered the final stepping stone to your dream career ! If you've been curious about a Master of Finance degree, stick around as we answer all of your questions. We'll also provide you with the tools you need to be on your way to completing a Master of Finance program.

How long does it take to complete a Master of Finance program?

Assuming that you've completed your undergraduate studies, a Master of Finance program takes an average of three years to complete. Like other schooling programs, this timeline often depends on your specific situation. If you plan on enrolling as a full-time student and can pass all your courses, you can complete this program in two years.

When deciding which institution to complete your Master of Finance degree at, it is important to consider their options for this program. Some grad schools offer accelerated programs that can be completed in as little as 18 months and online courses to better fit your schedule.

Is it hard to earn a master's in finance?

Like all graduate programs, earning a master's in finance can vary in difficulty depending on a student's skill level, understanding of courses, and study habits. If you're wondering if a master's in finance will be difficult for you, you should first look at what the program entails and assess your ability to perform well in those areas.

A major aspect of all Master of Finance programs is that they are interdisciplinary, touching on various topics like:

If you enjoy these subjects, chances are you will enjoy this graduate program! That is not to say that it won't be challenging — however, with the right tools and study habits , we are confident that you will find success.

What career can I have with a master's in finance?

A graduate program is a great way to set you up for your future career and help you accelerate your job growth. With a growing economy, the finance industry offers many opportunities. According to the U.S. Bureau of Labor Statistics, occupations in the financial sector are expected to see an 8% growth from 2020 to 2030, making this your prime time to complete your grad program and join the workforce. Obtaining your master's in finance will also give you the competitive edge you need to land a rewarding position with competitive pay.

Some career options you have upon completing your Master of Finance degree are:

• Budget Analyst
• HR Specialist
• Purchasing Manager

If you want to explore the different career opportunities offered in the finance industry, be sure to use our Places to Work tool. You will be able to view stats on different companies and hear from employees' personal experiences.

Where do I start a master's in finance?

If you're ready to begin your journey in earning your Master of Finance degree, look no further! At Niche, we are your one-stop shop for all things college, graduate school, and post-grad life. Check out our list of the best finance graduate programs and start narrowing your search to a school that fits your needs as a student. If you find yourself having questions along the way, visit our blog, where we offer you all of the best guidance for navigating life as a student.

External Sources:

https://www.bls.gov/ooh/business-and-financial/home.htm

PhD Handbook

PhD in Finance in USA: Best Universities for PhD in Finance in USA

USA happens to be one of the most sought after destinations for a PhD. The program structure here allows you to get a lot of training alongside research which is not common in the European countries or UK is what makes it desirable. Usually, master of finance graduates plan to get a PhD but it is also a good option for MBA in USA graduates to advance their careers. After a PhD in finance in USA, you can either go on the path to become a professor or take the road to work with global companies.

We have prepared a guide including best universities for PhD in finance in USA, eligibility criteria, admission process, cost of studying, scholarships, future opportunities and a lot more to help you grab the best opportunities to pursue PhD in finance from USA.

Why Study PhD in Finance in USA?

• US universities dominate almost all major rankings. If we talk about the QS World University Rankings by Subject for Accounting and Finance, 73 universities are included in the list of top universities.
• USA spends enormous amounts on research and development and is said to be ahead of several other countries in terms of innovation.
• The rigor of curriculum offered at US universities is much higher in standard than research programs at other institutions.
• US universities offer state-of-art research infrastructure which attracts aspirants from all around the world.

Best Universities for PhD in Finance in USA

A PhD is a long duration course so be assured that you choose your university wisely considering accreditation, co-curricular factors, facilities, faculty, location, etc. Here is a list of the 5 best universities for PhD in finance in USA:

• Massachusetts Institute of Technology
• University of Chicago
• Stanford University
• University of California, Berkeley

University of Pennsylvania

Discussed below are the insights of these 5 universities including ranking, specializations and tuition fees can be seen below:

1.  Massachusetts Institute of Technology

PhD in finance at Massachusetts Institute of Technology is offered under the MIT finance group. The program duration can be categorized into coursework, seminar, general examination, research paper and dissertation.

2.  University of Chicago

For pursuing PhD in finance at University of Chicago , you will get full tuition support for 5-6 years of your full-time study. Additionally, the university gives you the opportunity to work as a teaching assistant in the third and fourth year.

3.  Stanford University

At Stanford University , your PhD program will come with a five year funding guarantee which includes tuition, assistantship salary and fellowship stipend. Phd programs have been a constant preference for most international students to pursue here.

4.  University of California, Berkeley

The Haas School of Business at University of California, Berkeley offers a five year, fully funded PhD in finance program that aims to integrate modern developments in the field of finance. The course expects the student to have a strong background in mathematics and statistics.

5.  University of Pennsylvania

The finance faculty at the Wharton School of Business is one of the most renowned faculties of University of Pennsylvania . The ideal candidate for a PhD at Wharton should have a background in economics, mathematics, statistics, engineering and other quantitative disciplines.

Course Curriculum for PhD in Finance in USA

Although a US PhD degree is longer than a UK degree, it has its own benefits and gives candidates the time to get a better hold and develop expertise in the subject area. Discuss in the table below the course curriculum for PhD in finance in USA:

Eligibility Criteria for PhD in Finance from USA

The PhD in finance in USA requirements may vary from one university to another. Before looking at the cost of studying PhD in USA, let us understand the basic eligibility criteria for the same:

• Completed master’s degree
• English language proficiency requirements
• Entrance test scores

Take a look at the detailed discussion on eligibility criteria to study PhD in finance in US:

1.  Completed master’s degree

To pursue PhD in finance in USA, you must have a master’s degree in finance from a recognized institution equivalent to a US master’s degree. A minimum GPA of 3.0 or above is required.

Suggested: MS in finance in USA

2.  English language proficiency requirements

As international students, you will have to provide proof of English language proficiency if your native language is not English. IELTS and TOEFL are among the most widely accepted test scores. A minimum IELTS score of 6.5 or a TOEFL-iBT score of 90 or above is recommended.

3.  Entrance test scores

Before enrolling for a PhD in finance in USA, you may be asked for your GMAT or GRE scores. You may not have to take the test again as you must have already taken it before applying for your master’s degree.

Suggested: MS in USA

Documents Required to Study PhD in Finance from USA

It is crucial to understand the PhD in finance in USA requirements to complete the application process hassle-free. Listed below are the documents that most institutions will ask you to submit:

• Transcripts of academic records from all previous post-secondary institutions
• Test scores of GMAT/ GRE
• English language proficiency test scores
• Research proposal
• Writing sample
• Letters of recommendation
• Personal statement
• Copy of passport
• Proof of finances

Admission Process for PhD in Finance in USA

Here is the step-by-step process to apply for PhD in finance in US:

• Check the eligibility criteria for your chosen institution before applying.
• Visit the official university website and look for the upcoming intake and application deadlines.
• Complete the online application for admission and pay the necessary application fee, which usually ranges between 100 USD-150 USD.
• Gather all documents to be submitted along with the application.
• Once you complete the application and submit all relevant documents, keep an eye on the university website to get updates on your application.
• You may be called for an interview and be asked about your research proposal before getting the acceptance letter.
• If you are accepted, fulfill the enrollment requirements and apply for a visa to study in USA.

Suggested: USA student visa guide

How Much Does it Cost to Study for a PhD in Finance in USA?

Getting a PhD in USA requires a huge sum of investment. The cost of studying for a PhD in finance in USA can be categorized into tuition fees and cost of living. Let us consider the costs for each of these components.

Tuition Fees

The tuition fees for PhD in finance in USA ranges between 35,000 USD - 70,000 USD per year. You can find programs with lower tuition fees at public universities.

Suggested: Phd in USA cost for Indian students

Cost of Living

An international student’s cost of living in USA is estimated at around 12,000 USD-18,000 USD per year i.e. 1000 USD-1,500 USD per month, varying according to the student’s budget. It is true that the living expenses in USA are higher compared to many other study abroad destinations. However, affordable options are available to choose from, such as various accommodation options, public transport, personal expenses, etc.

Scholarships for PhD in Finance in USA

You will find multiple funding options for pursuing research in USA. Most US universities offer fully funded PhD programs , so you do not have to fret about the huge tuition fees. Take a look at the table below to learn about the various university-provided scholarships for international students:

Career Opportunities After PhD in Finance in US

Accounting and finance professionals in USA earn 97,600 USD per year on average. With a PhD in finance from USA, you can expect 23% higher salaries than a master’s degree. New York, Houston, Los Angeles, Philadelphia are some of the states offering the highest salaries compared to other cities in USA.

Take a look at the popular job titles and average salaries for PhD in finance from USA:

Suggested: How to find jobs in USA?

A PhD in finance in USA is worth considering to advance your career and boost your earning potential. Get in touch with our Yocket counsellors today and get answers to all your questions related to PhD in finance in USA and a roadmap to secure a seat in one of the best universities for a PhD in finance in USA.

Frequently Asked Questions about PhD in Finance in USA

How many years is a PhD in finance in USA?

A PhD in finance in USA takes 4 to 6 years depending on the candidate’s knowledge level. Generally, an individual spends around 2-4 years in the coursework and another 2-4 years on the dissertation.

How much does it cost to do a PhD in finance in USA?

The annual fees for PhD in finance in USA is somewhere between 30,000 USD-55,000 USD per year which may vary across universities.

Can Indian students get a scholarship to pursue PhD in finance in USA?

Yes, there are several scholarships for Indian students to pursue PhD in finance in USA, such as Fulbright Scholarship, Knight-Hennessy Scholars program, Aga Khan Foundation International Scholarship program and several other university-specific scholarships.

Can I apply for PhD in finance with an MBA in finance?

Yes, you can apply for a PhD in finance with an MBA in finance.

Is it better to do PhD in finance in USA from a private or public university?

Both types of universities have equally good options to pursue PhD in finance in USA. If you wish to apply to public universities in USA some of the best options are University of California - Berkeley, Georgia Institute of Technology, University of Illinois - Urbana, etc. Top private universities include Stanford University, Massachusetts Institute of Technology, Yale University, among others.

Sumeet Jain

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