uk phd student finance

Studentships and doctoral training

Get a studentship to fund your doctorate.

UKRI studentships offer funding for doctoral research. They also offer you access to training, networking and development opportunities to help you build a research and innovation career.

Our expectations for research organisations, supervisors and students are set out in the statement of expectations for doctoral training .

You could get:

• a minimum stipend of £19,237 per year for your living costs, which is paid to you in regular instalments
• support for your tuition fees (minimum £4,786 per year)

The stipend is usually non-taxable and does not need to be paid back. Some research organisations may offer more if you study in London, or they or one of their collaborators might decide to top up the payment. This will be outlined in the studentship advert from the research organisation.

We normally pay the support for tuition fees directly to your research organisation.

The levels given here are for the academic year 2024 to 2025. UKRI’s approach to doctoral stipend and fee levels will be reviewed through the  new deal for postgraduate research .

Additional support for your doctoral studies

As a UKRI-funded doctoral student, you may be able to access additional funding to cover the cost of other related training and development opportunities.

This could include:

• conference attendance
• language training
• overseas research visits
• internships or placements with a non-academic partner

The availability of support will depend on the research organisation and the training grants they have on offer. You should contact the research organisation you are interested in applying to, to find out what you could get.

Extra support if you have a disability

If you have a disability, you may be entitled to a Disabled Students’ Allowance (DSA) on top of your studentship.

You should speak to your research organisation’s disability advisor to assess your needs. They can help put the right support in place, including a DSA application if necessary. You cannot claim DSA directly from UKRI.

DSA helps to cover the cost of any additional support that a person studying for a doctorate might need as a result of a disability, mental health problem or specific learning difficulty.

The allowance covers:

• non-medical personal assistance
• specialist equipment
• extra travel costs
• general expenses

Find out more about DSA in our framework .

If you are a research organisation you can download claim forms and guidance for DSA .

Who can apply

Any prospective doctoral student wishing to study at a UK research organisation, including prospective international students, can apply for a UKRI studentship.

All UKRI-funded doctoral students will be eligible for the full award, both the stipend to support living costs, and home-level fees at the UK research organisation rate.

How to find opportunities

Many UK research organisations offer some form of studentship funding from UKRI. These opportunities will depend on the subject you want to study and will normally be advertised by the research organisations.

Research organisations may have additional opportunities that do not involve UKRI. UKRI supports around 20% of all UK-based postgraduate researchers. You should speak to the research organisation you are interested in to find out what studentships are available.

You could also consider using a specialist website like   FindaPhD  to look for opportunities.

When to apply

Research organisations set their own deadlines for applications.

Many open for applications early in the academic year and close in January or February. This is not a hard and fast rule. It is important that you check the deadlines for the research organisation where you want to study.

How to apply

You cannot apply to UKRI for a studentship. You must contact the research organisation you are interested in studying with and use their application process.

For doctoral students who are already studying with a studentship, there are opportunities to get additional funding to support placements that are separate from your doctorate.  Find training and development opportunities .

Last updated: 14 February 2024

This is the website for UKRI: our seven research councils, Research England and Innovate UK. Let us know if you have feedback or would like to help improve our online products and services .

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PhD loans 2024

PhD loans are available in 2024/25 to help Doctoral students living in England or Wales pay for their course fees and living expenses

PhD loans at a glance

• Worth up to £29,390 for 2024/25.
• For UK nationals resident in England or Wales.
• Study at any UK university that awards PhDs.
• Repayments combined with Masters loans .

How much can I borrow?

With these government-backed postgraduate Doctoral loans, you can borrow any amount up to £28,673 if your course started between 1 August 2023 and 31 July 2024, or £28,673 if it starts on or after 1 August 2024.

PhD loans are not means-tested, so you can apply for the full amount regardless of your financial background. Also, the loan can be used however you like - to cover fees, other study-related costs or to help with your living expenses.

If you have a disability, you may be entitled to additional support in the form of Disabled Students' Allowances .

Am I eligible for a PhD loan?

• be a UK or Irish national or have settled/pre-settled status under the EU Settlement Scheme 
• be ordinarily resident in England
• have lived in the UK, Channel Islands or the Isle of Man for three years before starting the course
• be under the age of 60 on the first day of the first academic year of your course
• not already hold a PhD or equivalent qualification
• not be receiving a Research Council studentship (including fees-only), NHS funding or other government finance towards your PhD.

You can't get the loan if you began your PhD before the 2022/23 academic year.

To discover whether you qualify for PhD funding, see GOV.UK - Doctoral loan eligibility .

Is my Doctorate eligible?

Most full and part-time PhD programmes, Professional Doctorates and PhDs 'upgraded' from Master of Philosophy (MPhil) are eligible, provided they are hosted by a UK university.

Your programme must last for at least three years and no longer than eight years. There are no restrictions on what subject you can study and your PhD proposal will not be assessed as part of your loan application.

PhDs by publication are not eligible because they do not involve an active period of studying. You also can't get a PhD loan for a research Masters degree such as an MRes or a standalone MPhil - for these you should apply for a postgraduate loan instead.

If you're studying for a PhD within a Doctoral Training Partnership (DTP), Doctoral Training Centre (DTC) or Centre for Doctoral Training (CDT), your eligibility depends on whether your research is funded by a Research Council studentship. If it is, you won't be able to get a loan.

How do I apply?

Visit  GOV.UK - Apply for a Doctoral loan for full details of how to apply for PhD funding via Student Finance England.

The deadline for Doctoral loan applications is nine months after the first day of the final academic year of your PhD - meaning you can still apply after you have started studying.

How will I receive my PhD loan?

Your loan will be paid in three instalments (33%, 33% and 34%) per academic year directly into your bank account by the Student Loans Company (SLC). It will be spread evenly across your studies.

You'll stop receiving your loan if you withdraw from your PhD or transfer to an ineligible programme, but you'll still be liable to repay what you have borrowed.

When do I start repaying my loan?

Repayments will start once you have completed your PhD and you're earning at least £21,000 per year (£1,750 per month before tax and other deductions). You'll pay at a rate of 6% of your income over this threshold.

If you're employed, your repayments will be taken out of your salary automatically on a monthly basis. If you're self-employed, HM Revenue and Customs (HMRC) will calculate how much you must repay on completion of your annual self-assessment tax return.

You'll be charged interest on your loan from the date you receive the first instalment from the SLC. This is calculated at the retail price index (RPI) +3%, meaning that that the interest accrued will typically be the annually reviewed RPI percentage, plus an additional 3%. The interest rate currently stands at 7.8%.

Any outstanding balance will be written off 30 years after your loan first becomes due for repayment.

Be aware that if you have previously taken out a postgraduate loan to fund Masters-level study, this will be combined with your PhD loan. You'll therefore repay a single debt at a rate of 6% of your income over £21,000.

However, debt from your undergraduate student loan is paid concurrently rather than combined. This means you may find yourself repaying up to 15% of your income - 9% for your undergraduate loan and 6% for your postgraduate/PhD loan.

What other PhD funding is available?

• PhD studentships
• Research Council funding
• Scholarships and bursaries
• Employer sponsorship
• Crowdfunding

Remember that PhD loans cannot be combined with other public funding such as Research Council studentships or NHS funding.

PhD loans in Wales

In 2024/25, the Welsh government has confirmed that eligible students ordinarily resident in Wales are able to borrow up to £28,655 to study for a full or part-time PhD. As with the postgraduate Doctoral loan scheme for residents in England, it isn't means-tested.

If your course started in 2023/24, you can apply for a loan of up to £28,395.

Explore how and when to apply by visiting  Student Finance Wales .

Doctoral funding in Scotland and Northern Ireland 

PhD loans are not currently available in Scotland and Northern Ireland, but there are other options you can pursue in order to fund your education.

For instance, organisations such as Student Information Scotland and the Department for the Economy (DfE) provide details of the PhD scholarships available to residents of Scotland and Northern Ireland respectively.

Find out more

• Search for PhDs in the UK .
• Learn about PhD study .

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• PhD Loans – 2023 Guide for Doctoral Students
• Funding a PhD
• A PhD Loan can fund a PhD in any field lasting between three to eight years .
• You can borrow up to £28,673 for courses that started on or after 1st August 2023.
• There are several eligibility restrictions, including that you must be a UK national resident and not receiving other funding (e.g. from Research Council or NHS).
• The repayments will be 6% of your annual income above  £21,000 .

What Is a PhD Loan?

A PhD loan is a form of UK Government loan made available to doctoral students residing in England or Wales. It is designed to help students fund their doctoral programme or equivalent degree, covering basic costs such as the tuition course fees and living costs.

The most common degrees they cover are:

• PhD – Doctor of Philosophy
• EngD – Doctor of Engineering
• EdD – Doctor of Education

Note: PhD Loans are formally known as Postgraduate Doctoral Loans, however, many postgraduate students commonly refer to Doctoral Loans as PhD Loans due to their primary use to fund PhDs.

Am I Eligible for a PhD Loan?

There are several requirements you must meet to be an eligible student for a PhD loan, such as your residency status. The eligibility criteria are summarised below into two categories – those that make you eligible and those that make you ineligible for a PhD loan.

Requirements That Make You Eligible:

• Be a UK or Irish citizen or have settled or pre-settled status under the EU Settlement Scheme , and ordinarily a resident of England or Wales.
• Be under the age of 60.
• Undertake a PhD (or another doctoral degree) that is three to eight years long and provided by a university in the UK.

Note: A common misunderstanding amongst university students is that a Doctoral Loan can fund an MPhil degree. As an MPhil is a Master’s degree, it does not meet the ‘Doctoral or equivalent’ requirement for being eligible for a Doctoral Loan. Therefore, if you are considering undertaking an MPhil, you should instead be applying for a Postgraduate Master’s Loan. If more appropriate for your situation, you can find out more information about Postgraduate Loans here .

Requirements That Make You Ineligible:

You must not:

• Already hold a PhD or equivalent doctoral degree.
• Already be receiving funding. This includes grants from the Research Council (studentships, stipends & scholarships etc.), a social work bursary or NHS bursary (note that being eligible for an NHS Bursary even if you’re not receiving one will make you ineligible for a PhD loan).
• Already have had a Doctoral Loan before, unless you left your course due to illness, bereavement or another serious personal reason. You are still eligible if you have received an undergraduate loan in previous study.
• Obtain your PhD through publication (as this won’t have a period of study associated with it)

Aspects That Don’t Affect Your Eligibility:

There are several aspects of your PhD course that do not affect your eligibility to receiving Doctoral Loans. These are:

• Your doctoral course – your PhD can be in any subject or field. The underlying requirement is that it is provided by a university in the UK; i.e. a university in either England, Wales, Scotland or Northern Ireland.
• Full-time or part-time course – you need not pursue your PhD full-time to be eligible. The underlying requirement is that your PhD can be completed within eight years regardless of how you allocate your time.
• Taught, research-based or a combination of both – as long as your PhD has an aspect of studying associated with it, the method of obtainment of your PhD will not affect your eligibility.

How Much Funding Can I Get?

The amount of funding you can obtain isn’t means-tested. This means that it isn’t related to your financial background or household income and therefore you can qualify for the full amount regardless of your situation.

The maximum loan amount you can borrow falls into one of three categories:

• Up to £28,673 if your course starts on or after 1st August 2023 ,
• Up to £27,892 if your course started between 1st August 2022 and 31st July 2023 ,
• Up to £27,265 if your course started between 1st August 2021 and 31 July 2022 .

You may apply for a Postgraduate Doctoral Loan in any year of study, however you may not receive the maximum amount if you apply after the first year of your PhD. For annual costs, you may receive:

• Up to £12,167 per year  if your course starts on or after 1st August 2023 ,
• Up to £11,836 per year  if your course started between 1st August 2022 and 31st July 2023 ,
• Up to £11,570 per year  if your course started between 1st August 2021 and 31 July 2022 .

When Will I Get Paid?

Your loan payments will be spread out across all academic years of your course.

Example: If you undertake a full-time PhD over 5 years and apply for a loan amount of £25,000, you will receive £5,000 in each academic year.

Further to this, the allocation for each academic year will be paid in three even instalments, with each instalment paid at the start of a new term.

Example: Continuing with the above example, the £5,000 per each academic year would be paid in three instalments of £1,667.

Your first instalment will typically be paid immediately after your course start date. This is because your university will first need to confirm to Student Finance England (SFE) or Student Finance Wales that you’ve officially enrolled with them before the student loan can be released to you.

How and When Do I Repay?

Repayment terms – You will need to start repaying your loan once you have completed your PhD and started earning an annual income over £21,000 .

Once both these conditions are met, you will start making your repayments at 6% of your income above £21,000 . This means that for the first £21,000 you earn, you won’t need to make any contributions towards your loan repayment, however, anything above £21,000 will be subject to a 6% deduction for repayment towards your student loan.

It’s worth noting that if you work for an employer after your PhD, your repayments will be automatically deducted from your salary and there isn’t anything you will directly need to do. However, if you decide to work for yourself as opposed for an employer, you will need to make the repayments yourself.

Like undergraduate loans taken for undergraduate degrees, a postgraduate Doctoral Loan is subject to interest, which will need to be paid on top of your original student loan value. The interest rate is the retail price index (RPI) plus 3%.

Example: The average UK RPI for 2019 was approximately 2.4%. This means that besides the mandatory 3% that is owed, the average interest rate on a Doctoral Loan in 2019 would have been 5.4%.

It’s worth noting that if you aren’t able to completely repay your postgraduate loan within 30 years from the date of your first payment, the remaining loan debt will be voided.

How Do I Apply?

You can apply in one of two ways – either online , by setting up an account on Student Finance England’s website, or by post , by filling in a printable form on GOV.UK ‘s website. Click the respective below to be taken directly to their websites where you can find out more. Note that you will only have to apply once for Postgraduate Doctoral Loans; Student Finance England will contact you every year to confirm the amount you will receive.

Online Application – Student Finance England

Postal Application – GOV.UK

Note: While English residents and EU students who will study in England need to apply to Student Finance England, Welsh residents and EU students who will study in Wales will need to apply to Student Finance Wales .

The application deadline is based on when your doctoral programme is due to start; you should apply within 9 months of this start date.

Finding a PhD has never been this easy – search for a PhD by keyword, location or academic area of interest.

Other PhD Funding Options

A PhD Loan is only one of several sources of funding to support your PhD studies and living expenses. The other postgraduate funding options available to you are:

• Research Council funding and studentships
• Scholarships and bursaries
• Employer sponsorship
• Charities and Trusts

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Doctoral loans for 2024-entry

• Eligibility

How to apply

The English and Welsh governments introduced a loan scheme for doctoral courses from 2018/19 entry. If you are a new entrant for 2024/25, find out if you are eligible and how you can take out a loan through the information on this page.

Please note that details for students starting in 2024 have not yet been released in full by the UK government. All figures and eligibility criteria on these pages refer to those who started in 2023, unless stated otherwise, and will be updated when further information is available.

How much is the loan?

You can apply for a loan of up to £29,390 (or £28,655 for students from Wales) towards your course and living costs. These figures have been confirmed for students starting in 2024/25.

The loan will be divided equally across each year of your course in line with the number of years course fees are payable .

The loan is paid into your bank account in three instalments during the academic year.

More information

You can find full details about eligibility, application and repayment in the sections listed across the top of this page. An overview of doctoral loans and details of how to apply is available from your regional funding agency's website:

• Student Finance England
• Student Finance Wales

For courses starting on or after 1 August 2021, the UK government has confirmed that EU, other EEA, and Swiss Nationals will be eligible for student finance from the UK government if they have UK citizens’ rights (i.e. if they have pre-settled or settled status, or if they are an Irish citizen covered by the Common Travel Area arrangement). The support you can access from the government will depend on your residency status. Further details on eligibility can be found on the UK government website .

Who can take out the loan?

The information in this section is presented as a guide only. You should refer to the UK government website for further details.

To take out the doctoral loan, you must be:

• Aged under 60 on the first day of the first academic year of your course (on 1 September 2024 for courses starting in October 2024).
• Starting an eligible doctoral course in the 2018/19 academic year or later (on or after 1 August 2018).
• A UK or Irish national, or have settled or pre-settled status under the EU Settlement Scheme or indefinite leave to remain so there are no restrictions on how long you can stay.
• Normally live in England or Wales.
• Have been ordinarily resident in the UK, Channel Islands, Isle of Man or Ireland for three continuous years before the first day of your course.

You will not be eligible for the doctoral loan if:

• You already have a doctorate or higher level qualification.
• You have received or will receive Research Council funding.
• You are eligible to apply for the NHS bursary.
• You are already receiving funding from Student Finance for the same academic year.
• You have outstanding student loan arrears or have previously been found to be ‘unfit’ for student support (e.g. because of attempted fraud).
• You have received a Postgraduate Doctoral Loan before - unless you left your course due to illness, bereavement or another serious personal reason.
• You have transferred from a Masters to a Doctoral course.

Which courses are covered?

Taught and research standalone doctoral courses in any subject are covered by the loan. Courses must start on or after 1 August 2018, and be 3 to 8 years in duration. Courses can be studied on a full-time or part-time basis.

Doctoral courses that include an integrated master’s degree are eligible for the Postgraduate Doctoral Loan, but you must be admitted to and enrol on the doctoral course. You would not be able to make a separate application for Postgraduate Master’s Finance.

If your DPhil course commences in Hilary or Trinity Term please contact the Student Fees and Funding team and we can arrange for a Hilary or Trinity Term start version of your course to be set up within the Student Finance application portal if it has not been added previously.

Applications for students starting in 2024/25 are expected to open in May 2024. You are encouraged to apply as early as possible via your regional funding agency's website to ensure that funding is in place for the start of your course.

The information below is the University's best understanding of the current position. Any changes the government make to repayment arrangements are outside the control of the University.

Will I be charged interest on my loan?

Interest is charged at the Retail Price Index (RPI) plus 3% from the day your first payment is made until your loan is repaid in full.

How do I repay my loan?

You have to repay any loan you borrow, but not until your income is over £21,000 a year. Repayments will be based on your income, not what you borrow.

You will start making repayments the April after you finish or leave your course, or the April four years after the start of your course.

You will only start making repayments once your income is over the current threshold of £403 a week, £1,750 a month or £21,000 a year. You will repay 6% of what you earn over the threshold. So if you are paid monthly and earn £2,500 before tax you’ll repay 6% of the difference between what you earn and the threshold (£1,750):

£2,500 - £1,750 = £750

6% of £750 = £45

So your Postgraduate Loan repayment would be £45 that month.

What if I already have a student loan?

If you already have a Postgraduate Master’s Loan then you’ll make a combined repayment of 6% over the income threshold of £21,000 covering both postgraduate loans.

If you have had any other loan from the Student Loans Company then you will continue to make separate repayments alongside those for your postgraduate loan.

You can find further information on repayments at the  GOV.UK Repayments website .

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PhD/ MPhil/ MSc Finance (Research)

• Visit an Open Day
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• Course details
• Entry Requirements
• Teaching and assessment
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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

Accounting and Finance

PhD Accounting and Finance

Research is central to the activities of the University of Bristol Business School. The school comprises several groups of academic staff with a variety of interests and a focus on research that has practical relevance. The results of the most recent UK-wide research assessment, the Research Excellence Framework (REF) 2021 , rated 88% of the research activity in business and management as 'world leading' or 'internationally excellent'.

The Business School encourages interdisciplinary research, drawing on a range of theories and methodologies. We welcome students from a variety of backgrounds and experiences. You will be joining a thriving PhD community. We run a programme of activities to enable PhD students to network with each other.

Candidates entering the PhD programme are required to take 60 credit points of taught units in their first year and to participate in PhD workshops and reading groups. Students are also encouraged to undertake further training in agreement with their supervisor for the duration of their studies.

The main research training is taken from among two categories of units, with separate lists for Accounting and for Finance students. The units are chosen in consultation with the supervisors to suit the student's PhD research. The pass mark set by the University for any level 7(M) unit is 50 out of 100.

World-leading research

The University of Bristol is ranked fifth for research in the UK ( Times Higher Education ).

94% of our research assessed as world-leading or internationally excellent.

Entry requirements

The applicant must have an upper second-class honours degree in a relevant subject or an equivalent qualification, and either have completed or be completing a master's qualification from a UK university (or equivalent).

The master's requirement does not apply to applications made to SWDTP-funded scholarships although commencement of the PhD remains conditional on the completion of the associated master's. Applicants without a master's qualification may be considered on an exceptional basis.

Aptitude test results such as GMAT and GRE can be submitted as evidence of PhD-level analytical and verbal abilities.

See international equivalent qualifications on the International Office website.

Read the programme admissions statement for important information on entry requirements, the application process and supporting documents required.

If English is not your first language, you will need to reach the requirements outlined in our  profile level B.

Further information about  English language requirements and profile levels .

Fees and funding

Fees are subject to an annual review. For programmes that last longer than one year, please budget for up to an 8% increase in fees each year.

More about tuition fees, living costs and financial support .

Alumni discount

University of Bristol students and graduates can benefit from a 25% reduction in tuition fees for postgraduate study.  Check your eligibility for an alumni discount.

Funding for 2024/25

Students applying to research programmes in the Faculty of Social Sciences and Law may apply for funding from a range of sources. Applicants can find details about applying to these scholarships and deadlines for applications on our Faculty of Social Sciences and Law webpage .

Applicants can also find the latest funding information on the Business School website , via Business School PGR contacts ( [email protected] ) or through the Business School's social media channels ( Facebook | Instagram | LinkedIn | Twitter ).

Further information on funding for prospective UK and international postgraduate students.

Career prospects

The primary purpose of this qualification is to prepare for a career in research.

Research groups

Find out more about the University of Bristol Business School research groups .

Details of the current research and supervision interests of individual members of staff are available on the school website .

When writing the research statement to accompany your application, the primary requirement is to define and situate your research within an academic/disciplinary context. You should remember that people in the academic community are the main audience or readership for postgraduate research.

This means that you will need to identify:

1. The research questions or problems that you intend to address; 2. The research context for your project/programme of work; 3. The methods you think you will use to pursue the key questions; 4. Two potential supervisors for your research - please refer to the staff profiles as listed by the school website .

In considering your application, significant weight will be given to the extent to which you can demonstrate a clearly thought out and specific interest in research.

How to apply

Apply via our online application system. For further information, please see the guidance for how to apply on our webpages.

Applicants need to make sure that they submit all required documents (see admissions statement), incomplete applications will not be considered.

Applicants must contact prospective PhD supervisors in advance of applying for a programme. Please refer to the staff profiles as listed by Academic Groups . If the supervisor you seek cannot offer supervision, try to identify alternative supervisors.

The supervisor's details should then be included in the application form, or the application process may be delayed. You may also submit an application without identification of supervisors, and we will try our best to find a match, although we cannot guarantee supervision. Early applications are strongly encouraged.

Applications open on 2 October 2023 and will be considered in four rounds, with round one closing on 1st December 2023; round two on 1st February 2024 and round three on 31st March 2024. Round four closes on 1st June 2024.

Applications to begin study in September 2024 will not be accepted after this date. Applications should be submitted electronically by no later than 4pm on the day of the deadline for the round in which you apply.

Business School PGR Team

Faculty of Social Sciences and Law

University of Bristol Business School

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Find out about the bristol doctoral college.

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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: £4,829 for the first year (provisional) 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

Request a prospectus

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Finance and Technology MPhil/PhD

London, Stratford (UCL East)

In a rapidly evolving world, new technologies present both challenges and opportunities that require innovative solutions. The Institute of Finance & Technology (IFT) is dedicated to meeting these challenges and harnessing the power of finance in addressing pressing societal issues and is committed to shaping the future of finance through cutting-edge research and education. Our PhD programme is designed to empower the next generation of academics to develop novel financial models that seamlessly integrate technical, environmental, and social dimensions into financial mechanisms. At IFT, we nurture visionaries who will lead the way in transforming finance for the betterment of society.

UK tuition fees (2024/25)

Overseas tuition fees (2024/25), programme starts, applications accepted.

Applications open

• Entry requirements

A minimum of an upper second-class Bachelor’s degree from a UK university in a subject appropriate to the chosen field, or an overseas qualification of an equivalent standard.

The English language level for this programme is: Level 1

UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level.

Further information can be found on our English language requirements page.

Equivalent qualifications

Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website .

International applicants can find out the equivalent qualification for their country by selecting from the list below. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.

About this degree

The Institute of Finance & Technology (IFT) stands at the forefront of addressing the evolving landscape of finance in the 21st century. In an era characterised by the convergence of finance and technology, we recognise the need for innovative approaches and interdisciplinary analyses to harness the potential of this transformation.

Our vision is to reposition finance as a potent tool in addressing pressing societal challenges. We achieve this by cultivating the next generation of academic leaders through our cutting-edge PhD programme. This programme is not just about finance; it's about pioneering new financial models that integrate technical, environmental, and social dimensions into financial mechanisms, equipping our scholars with the skills and knowledge needed to reshape the financial industry.

The global financial sector is undergoing a profound revolution driven by disruptive innovations and rapid technological advancements. As the finance landscape continues to evolve at breakneck speed, it's imperative that academic institutions adapt and align their programmes with these dynamic changes. IFT has emerged as a beacon of excellence in this regard.

Our commitment to staying at the forefront of financial innovation led us to collaborate closely with industry and government professionals from renowned institutions. These partnerships have played a pivotal role in shaping our programmes, ensuring that our students not only keep pace with the financial industry's advancements but also become pioneers who set new standards.

At IFT, our educational philosophy transcends traditional classroom learning. We believe in the integration of practical experiences, research endeavours, and industrial insights to foster the development of students' commercial competencies. Our programmes are carefully crafted to offer a holistic educational experience that equips students with the skills to navigate complex financial environments, develop innovative solutions, and make a positive impact on society.

With a focus on cutting-edge technologies and interdisciplinary collaboration, the UCL Institute of Finance & Technology is the ideal destination for those who aspire to shape the future of finance and address the world's most pressing challenges through innovative financial models and approaches. Join us on this transformative journey in finance and technology.

Who this course is for

Before registering for this MPhil/PhD programme, you must initially have successfully a minimum of an upper second-class Bachelor’s degree from a UK university in a subject appropriate to the chosen field, or an overseas qualification of an equivalent standard.

What this course will give you

At the Institute of Finance & Technology (IFT), our degree programmes offer a wealth of benefits that prepare students for a dynamic and ever-changing future. Our visionary approach to finance focuses on addressing significant societal challenges through the development of cutting-edge financial models that incorporate technical, environmental, and social considerations. 

Throughout the academic year, we facilitate numerous social events to foster a sense of community among our students. Additionally, our upcoming Agora financial research seminar series promises to provide valuable insights and networking opportunities. In the third term, we host a special event where all PhD students showcase their research and development, creating a platform for intellectual exchange and growth.

At IFT, students will have the opportunity to learn from a distinguished staff comprising industry professionals and leading academics from UCL. These experts are actively engaged in innovative research, ensuring that our students receive a well-rounded education that combines theoretical knowledge with real-world insights. 

Graduates of our programmes are uniquely positioned to serve a wide array of institutions, from universal banks and mutual funds to investment banks, governments, central banks, and advisory organisations. Regardless of your prior experience or background, an IFT degree equips you with the tools and knowledge to excel in your chosen field.

In addition to the exceptional academic resources at IFT, students benefit from a comprehensive Doctoral Skills Development Programme and our affiliation with the Bloomsbury Postgraduate Skills Network. These programmes are designed to enrich your research and transferable skills, enhancing your capacity to excel in your research endeavours, advance professionally, and improve your employability. At IFT, we're dedicated to not only providing top-notch education but also fostering personal and professional growth that will enable you to make a meaningful impact in the world of finance and technology.

The foundation of your career

Upon completing our programme, graduates unlock a multitude of promising pathways. They seamlessly integrate into the workforce, finding placements in esteemed finance and technology giants.

With a comprehensive skill set and in-depth knowledge, graduates are poised to excel across various sectors, spearheading projects, influencing decisions, and contributing to the advancement of the finance and technology landscape. This degree not only opens doors to an array of prestigious employment opportunities but also sets a well-defined trajectory for a fulfilling and impactful career.

The core skill set you would obtain during your MPhil/PhD varies depending on your specific research project but the department provides a wide range of opportunities so that you are not limited to what your research projects offers.

Employability

Each of our students will be prepared for the future by learning from industry professors, as well as leading UCL academics active in innovative research. Our programmes produce graduates that will serve the needs of universal banks, mutual and pension funds, investment banks, governments, central banks and advisory organisations. Whatever your experience or background, you will leave UCL equipped with the tools to become a high achiever in your chosen field.

There are many training opportunities available via the Doctoral Skills Development Programme and UCL is part of the Bloomsbury Postgraduate Skills Network. The purpose of the programme is to give you the opportunity to expand your research and transferable skills in order to support your research, professional development and employability.

UCL Careers   is a one-stop-shop where you can find jobs, sign up for Careers alerts and register for new opportunities and events. You can also  contact the UCL Careers Office here  to get tailored advice in a one-to-one guidance session. Help with job application processes and guidance on how to build a portfolio of experience is also offered, enabling you to better access opportunities in your chosen field.

UCL offers an enriching environment for networking and professional growth. Engage with peers, industry experts, and faculty members who share your passion for excellence. Through collaborative group projects, seminars, workshops, and industry partnerships, you'll forge connections that extend beyond the classroom. 

These networking opportunities provide insights into real-world challenges, offer chances to learn from industry leaders, and pave the way for potential internships and job placements. Your interactions within this vibrant community will not only enrich your learning experience but also establish a valuable network that can shape your future in the finance and technology arena.

Many academics in our institute are working with industry partners. Applicants can ask about potential inputs from, or collaboration with, industry partners when they approach potential supervisors.

Teaching and learning

Throughout the programme, a diverse range of teaching and learning strategies foster comprehensive skill development and intellectual growth and imbue graduates with the prowess to thrive in research, industry, and various professional domains.

The programme employs a diverse range of assessment methods to ensure a comprehensive evaluation of students' capabilities, understanding, and comprehension across various dimensions, fostering a well-rounded learning experience.

MPhil upgrade viva. Final PhD viva.

Students can expect a well-balanced division of their time between various learning activities such as tutorials, lectures, seminars, practical sessions, and personal guidance.

The majority of the student's time, the remaining portion, is dedicated to independent study, allowing for in-depth exploration and self-directed learning. This balanced approach to time allocation ensures that students have ample opportunities for collaborative learning, direct instruction, and autonomous exploration, fostering a comprehensive and well-rounded educational experience.

Research areas and structure

Research environment.

We have a very inclusive and collaborative research environment. Our aim is to foster a very interdisciplinary approach and curiosity in research, and to explore different disciplines and challenging paradigms.

Humbleness and willingness to learn from each other is another feature of the group. We try to go to conferences in teams of three/four in order to support each other and to have a greater critical mass in terms of networking and contribution.

We have several social events during the year, including our financial research seminar series. In term 3 we also hold an event where all PhD students present their research and development.

Depending on the terms of any funding arrangements, upon successful completion of your approved period of registration you may be able to register as a completing research student (CRS) while you write up your thesis.

Within three months of joining the programme, you are expected to agree with your supervisor the basic structure of your research project, an appropriate research methodology and a realistic plan of work. You will produce and submit a detailed outline of your proposed research to your supervisor for their comments and feedback.

During your registration, you will be able to participate in conferences and research showcase events, which provide you with an opportunity to present your research findings before an audience of academics, industry and your fellow doctoral students. In the second year or part-time equivalent, you will be expected to complete the process of upgrading from MPhil to PhD status.

To progress, you are required to submit a short upgrade report, which must be presented and successfully defended in an upgrade viva. In your final year, you will submit your thesis and defend it to a panel in a viva exam.

Within three months of joining the programme, you are expected to agree with your supervisor the basic structure of your research project, an appropriate research methodology and a realistic plan of work. You will produce and submit a detailed outline of your proposed research to your supervisor for their comments and feedback. During your registration, you will be able to participate in conferences and research showcase events, which provide you with an opportunity to present your research findings before an audience of academics, industry and your fellow doctoral students.  

In the second year or part-time equivalent, you will be expected to complete the upgrade progression process. To progress, you are required to submit a short upgrade report, which must be presented and successfully defended in an upgrade viva. In your final year, you will submit your thesis and defend it to a panel in a viva exam.

Accessibility

Details of the accessibility of UCL buildings can be obtained from AccessAble accessable.co.uk . Further information can also be obtained from the UCL Student Support and Wellbeing team .

Fees and funding

Fees for this course.

The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees .

Additional costs

Some projects may require additional costs. These will be clearly advertised and/or confirmed through discussions with prospective supervisors at the point of any offer being made.

For more information on additional costs for prospective students please go to our estimated cost of essential expenditure at Accommodation and living costs .

Funding your studies

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website .

CSC-UCL Joint Research Scholarship

Value: Fees, maintenance and travel (Duration of programme) Criteria Based on academic merit Eligibility: EU, Overseas

You are encouraged to identify and contact potential supervisors before submitting a formal application. It is important that you find a supervisor who shares the same research interest and expectations and is available to take a new student. Supervisors in our institute welcome emails enquiring about your potential MPhil/PhD study.

Please note that you may submit applications for a maximum of two graduate programmes (or one application for the Law LLM) in any application cycle.

Choose your programme

Please read the Application Guidance before proceeding with your application.

Year of entry: 2024-2025

Got questions get in touch.

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[email protected]

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PhD with Integrated Study in Finance

Our Accounting and Finance subject group is one of the largest in the Business School, with approximately 50 academic colleagues providing high quality teaching and research, and a range of research centres and networks which create real-world influence in business, government, and the public sector.

This programme is currently undergoing the final approval process. We anticipate applications will open in January 2024.

The programme offers credited research training for those researching a financial topic, such as behavioural finance, asset pricing, corporate finance and governance, and aspects affecting financial markets and institutions. Supported by experts within the field, you will have the opportunity to develop a doctoral thesis based on original and relevant research.

PhD with Integrated Study in Finance at a glance

• Study over four years full time, with an additional 'writing-up' year available to all
• During your first year, undertake 180 credits of taught courses designed to train you in the theory and methods necessary to conduct high-quality research
• Access numerous database subscriptions to support your research, such as Bloomberg, Capital IQ, Datastream, Eikon, Morningstar Direct, SNL Financial, and Wharton Research Data Service (WRDS) which features, among others, access to Boardex, Compustat, CRSP, and Sustainalytics data
• Support and access to a wide range of professional and personal development opportunities during your studies
• We encourage our students to aim higher, presenting papers at prestigious conferences and submit articles for publication

Entry requirements

Find out our academic, English language, and application requirements for the PhD in Finance.

Programme overview

View the learning outcomes and a typical training course schedule for a first-year student.

Fees and living expenses

When budgeting please consider associated administration fees and expenses as well as our funding support.

Ready to apply?

Review our application checklist and make your application to the PhD in Finance.

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Finance PhD students

• Finance PhD Students
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Artur Anschukov

PhD Student at Imperial College London

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PhD Student at Imperail College Lonodn

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David licher, giulio carlo venturi, jiarui wang, paige weisman, faculty contact for student placements.

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Universities warn of fall in number of international student applications

The warning comes ahead of a report expected this week on the graduate visa route.

Universities have reported a fall in the number of applications from international students, as they urged the Government against any further changes to its migration policy.

The warning comes ahead of a report expected this week on the graduate visa route amid concern from the university sector that the Government may introduce further restrictions on overseas students.

Of 75 universities responding to a survey this month, 88% reported a decrease in postgraduate applications from international students for the September 2024 intake compared to a year ago – with an aggregated decrease of 27%.

For undergraduate applications, 62% reported a reduction to the British Universities International Liaison Association (BUILA) survey – with an aggregated decrease of 5%.

The fall in applications follows the introduction of restrictions on students bringing family over to the UK, as well as higher salary thresholds for work visas.

The Government also commissioned a rapid review of the graduate visa route – which enables international students to work in the UK for two to three years after completing their course – raising fears from the sector that this could lead to further changes.

In a joint letter to the Home Secretary, university bodies including BUILA and the Russell Group said further changes risked undermining the success of the UK’s higher education sector.

They also expressed concern that the current restrictions are having a detrimental effect on the UK’s reputation as a leading study destination and said the provision of education to international students was one of the country’s most successful export sectors.

Other signatories of the letter included Independent Higher Education, MillionPlus, the UK Council for International Student Affairs, University Alliance and Universities UK International.

Figures from the Home Office published last month found that the number of dependents accompanying students to the UK has fallen by almost 80%, with more than 26,000 fewer student visa applications made from January to March 2024 compared to the same period in 2023.

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UNF grad student: Adult illiteracy in the dyslexic population is the invisible enemy

In a world where reading is often taken for granted, there exists an invisible enemy that is often overlooked among the dyslexic community — adult illiteracy.

Dyslexia is a learning disorder that impacts 1 in 5 people, or 20% of the population. A neurobiological condition like dyslexia presents difficulty in the areas of reading, spelling and learning such things as foreign languages. People often think of dyslexia as only affecting children but the disorder greatly impacts those adults who never received proper instruction and accommodations.

Of the adults in the United States, 54% have below a sixth-grade reading level . Dyslexia is not an indication of intelligence level, and most students who get specialized education and tutoring can excel in school as well as life. What often stops students or adults from getting the help they need is the social stigma and lack of individualized instruction .

Traditional teaching methods often fail to address the specific challenges faced by dyslexic individuals, leaving them feeling frustrated and discouraged. These individuals often feel like their worth is tied to their ability to read and write, so they would rather avoid the subject than admit they need help. This leads to an adult leaving the school system with a low literacy rate and a future of problems.

Dyslexic adults who have a low reading level may have difficulty getting a job and often feel too self-conscious to apply for growth within the company. They often find it difficult to complete medical forms and learn of medical services in their community, which can lead to worse health outcomes.

Reading is required to be successful in America, and if something stops that development, the person cannot reach their full potential. In the United States, two out of every three students with low reading proficiency by the end of fourth grade will likely end up on welfare or in jail. Adult illiteracy can be prevented with policy and educational changes.

Educators must work on developing specialized literacy programs tailored to the needs of dyslexic adults and children. Educational leaders and policymakers need to implement strategies that focus on empathy and breaking down any stigma surrounding the dyslexia diagnosis.

Letters: Competition with charters may improve education in Duval County schools

Evidence-based programs, such as the Orton-Gillingham approach — an explicit, systematic, data-driven, multisensory approach to phonics — should be implemented in classrooms. Educators and support personnel need professional development opportunities on how to identify and address dyslexia.

They can then provide early interventions, empowering dyslexics to reach their full potential and participate fully in society .

Community organizations and dyslexia advocacy groups need to make early intervention a priority, focus attention on policymakers and school board members to implement specialized dyslexia-focused curriculums. That scenario allows dyslexics to become literate adults, ready for the reading world, when they leave school.

By recognizing the unique challenges faced by dyslexic individuals and implementing targeted interventions, we can break the cycle of adult illiteracy and fight the invisible enemy.

Sarah Powell holds a public health degree with a minor in health education and is pursuing a Master of Public Health at the University of North Florida. With three years of experience as an early educator, she also volunteers with the dyslexic population and is dyslexic herself.

This guest column is the opinion of the author and does not necessarily represent the views of the Times-Union. We welcome a diversity of opinions .

This article originally appeared on Florida Times-Union: Dyslexics become literate adults with policy, educational changes

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Leave your mark in LT1

The iconic Lecture Theatre 1 (LT1) is due for a refurbishment, and with it comes the opportunity for alumni, friends and other supporters of Cambridge Judge Business School to claim their seat in LT1.

Pedro Saffi

Professor of financial economics.

Director of the  Master of Finance (MFin) Programme

BA (IBMEC Business School), MSc (Fundação Getulio Vargas (EPGE)), PhD (London Business School)

My research interests include security lending markets, short selling, liquidity risk, and how differences of beliefs affect trading volume. My consulting experience is centred on valuation, including work as an expert to international arbitration courts, and the analysis of pharmaceutical firms’ value.

I’m a member of the Finance subject group at Cambridge Judge Business School, which focuses on the investment and financial decisions of firms and institutions.

Download Pedro's CV

Contact details

+44 (0)1223 768491

[email protected]

www.pedrosaffi.com

Academic area

• Professional experience Previous appointments Publications Awards and honours
• Previous appointments Professional experience Publications Awards and honours
• Publications Professional experience Previous appointments Awards and honours
• Awards and honours Professional experience Previous appointments Publications

Professional experience

Professor Saffi’s previous teaching experience includes courses for MBA, EMBA, MPhil and Executive Education students at Cambridge Judge Business School, IESE, London Business School, Reykjavik University (Iceland), Fundação Getulio Vargas (Brazil) and Nile University (Egypt). His consulting experience is centred on valuation, including work as an expert to international arbitration courts, and the analysis of pharmaceutical firms’ value. He has presented his work in the most prestigious academic conferences and contributed with articles to popular press. Dr Saffi is a member of the  Cambridge Corporate Governance Network (CCGN) .

Previous appointments

From 2007 Professor Saffi was Assistant Professor of Finance at IESE Business School in Barcelona, Spain.

Selected publications

• Reed, A.V., Saffi, P.A.C. and Van Wesep, E.D. (2021)  “Short-sales constraints and the diversification puzzle.”   Management Science , 67(2): 1159-1182 (DOI: 10.1287/mnsc.2019.3467)
• Saffi, P.A.C. and Vergara-Alert, C. (2020)  “The big short: short selling activity and predictability in house prices.”   Real Estate Economics , 48(4): 1030-1073 (DOI: 10.1111/1540-6229.12219)
• Richardson, S., Saffi, P.A.C. and Sigurdsson, K. (2017)  “Deleveraging risk.”   Journal of Financial and Quantitative Analysis , 52(6): 2491-2522 (DOI: 10.1017/S0022109017001077)
• Porras Prado, M., Saffi, P.A.C. and Sturgess, J. (2016)  “Ownership structure, limits to arbitrage and stock returns: evidence from equity lending markets.”   Review of Financial Studies , 29(12): 3211-3244 (DOI: 10.1093/rfs/hhw058)
• Aggarwal, R., Saffi, P.A.C. and Sturgess, J. (2015)  “The role of institutional investors in voting: evidence from the securities lending market.”   Journal of Finance , 70(5): 2309-2346 (DOI: 10.1111/jofi.12284)
• Saffi, P.A.C. and Sigurdsson, K. (2011)  “Price efficiency and short selling.”   Review of Financial Studies , 24(3): 821-852 (DOI: 10.1093/rfs/hhq124)

Visit Professor Saffi’s website for a more comprehensive list of his publications.

Awards and honours

• Crowell Third Prize for the paper “Deleveraging risk” (with Scott Richardson and Kari Sigurdsson), Quantitative Research Group at PanAgora Asset Management, 2015
• Best Paper Award for the paper “Deleveraging risk” (with Scott Richardson and Kari Sigurdsson), Financial Management Association International (FMA) Consortium for European Finance Faculty, 2014
• Inquire Europe Award, 2013
• Outstanding Teaching Award, Cambridge Judge Business School, 2012
• Research Award, Q Group, 2012

News and insights

Do short sellers care about Environment, Social and Governance?

CERF Fellow Oğuzhan Karakaş, and research collaborators Pedro Saffi (a former CERF fellow) and Mehrshad Motahari (a former CERF Research Associate), analyse whether the short sellers can anticipate negative ESG incidences of firms, and make money from the negative price reactions to the news announcement of such incidences.

How do activist hedge funds and short sellers interact?

Study co-authored by Pedro Saffi of Cambridge Judge Business School wins Best Paper in Corporate Finance Award at the Society for Financial Studies Asia-Pacific conference.

Making connections in Mexico: MFin Director meets alumni in Mexico City

MFin Director, Professor Pedro Saffi, travelled to Mexico City in August. During his visit he had the chance to meet and connect with some of our Mexican alumni and new students.

Market Watch | 24 February 2023

Do happier workers lead to better investment returns?

PhD candidate Elias Ohneberg and Pedro Saffi, Professor of Financial Economics and Director of the Master of Finance (MFin) Programme at Cambridge Judge Business School, are featured in this article about how much impact employee happiness has on investment returns.

Institutional Investing | 7 April 2021

Large short sellers in the area? Activist campaigns are more likely to succeed

A study on hedge fund activism co-authored by Dr Pedro Saffi, Reader in Financial Economics at Cambridge Judge Business School, featured in the article. The study found that “activist investors are more likely to start new campaigns in companies that have already attracted the interest of large short sellers.” Dr Saffi commented: “Often, it’s much more difficult to be a short seller than an activist. The typical position of a hedge fund activist tends to be larger than the larger short sellers. Often, activists create a kind of coalition, called wolfpacks, to try to implement changes with management.”

BBC | 19 February 2021

World Business Report

Dr Pedro Saffi, Reader in Financial Economics and Director of the Master of Finance at Cambridge Judge Business School, recently appeared on BBC commenting on US congressional hearings on GameStock share trading. Dr Saffi went on to say that lots of professional investors are going to start paying much more attention than they do at the moment in the market sentiment that is coming from those small investors on Reddit. “People were very surprised by the fact that the hedge funds and other large investors were kind of beaten up by the small traders that were following that Reddit forum.”

50 Best Finance Dissertation Topics For Research Students

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Finance Dissertation Made Easier!

Embarking on your dissertation adventure? Look no further! Choosing the right finance dissertation topics is like laying the foundation for your research journey in Finance, and we're here to light up your path. In this blog, we're diving deep into why dissertation topics in finance matter so much. We've got some golden writing tips to share with you! We're also unveiling the secret recipe for structuring a stellar finance dissertation and exploring intriguing topics across various finance sub-fields. Whether you're captivated by cryptocurrency, risk management strategies, or exploring the wonders of Internet banking, microfinance, retail and commercial banking - our buffet of Finance dissertation topics will surely set your research spirit on fire!

What is a Finance Dissertation?

Finance dissertations are academic papers that delve into specific finance topics chosen by students, covering areas such as stock markets, banking, risk management, and healthcare finance. These dissertations require extensive research to create a compelling report and contribute to the student's confidence and satisfaction in the field of Finance. Now, let's understand why these dissertations are so important and why choosing the right Finance dissertation topics is crucial!

Why Are Finance Dissertation Topics Important?

Choosing the dissertation topics for Finance students is essential as it will influence the course of your research. It determines the direction and scope of your study. You must make sure that the Finance dissertation topics you choose are relevant to your field of interest, or you may end up finding it more challenging to write. Here are a few reasons why finance thesis topics are important:

1. Relevance

Opting for relevant finance thesis topics ensures that your research contributes to the existing body of knowledge and addresses contemporary issues in the field of Finance. Choosing a dissertation topic in Finance that is relevant to the industry can make a meaningful impact and advance understanding in your chosen area.

2. Personal Interest

Selecting Finance dissertation topics that align with your interests and career goals is vital. When genuinely passionate about your research area, you are more likely to stay motivated during the dissertation process. Your interest will drive you to explore the subject thoroughly and produce high-quality work.

3. Future Opportunities

Well-chosen Finance dissertation topics can open doors to various future opportunities. It can enhance your employability by showcasing your expertise in a specific finance area. It may lead to potential research collaborations and invitations to conferences in your field of interest.

4. Academic Supervision

Your choice of topics for dissertation in Finance also influences the availability of academic supervisors with expertise in your chosen area. Selecting a well-defined research area increases the likelihood of finding a supervisor to guide you effectively throughout the dissertation. Their knowledge and guidance will greatly contribute to the success of your research.

Writing Tips for Finance Dissertation

A lot of planning, formatting, and structuring goes into writing a dissertation. It starts with deciding on topics for a dissertation in Finance and conducting tons of research, deciding on methods, and so on. However, you can navigate the process more effectively with proper planning and organisation. Below are some tips to assist you along the way, and here is a blog on the 10 tips on writing a dissertation that can give you more information, should you need it!

1. Select a Manageable Topic

Choosing Finance research topics within the given timeframe and resources is important. Select a research area that interests you and aligns with your career goals. It will help you stay inspired throughout the dissertation process.

2. Conduct a Thorough Literature Review

A comprehensive literature review forms the backbone of your research. After choosing the Finance dissertation topics, dive deep into academic papers, books, and industry reports, gaining a solid understanding of your chosen area to identify research gaps and establish the significance of your study.

3. Define Clear Research Objectives

Clearly define your dissertation's research questions and objectives. It will provide a clear direction for your research and guide your data collection, analysis, and overall structure. Ensure your objectives are specific, measurable, achievable, relevant, and time-bound (SMART).

4. Collect and Analyse Data

Depending on your research methodology and your Finance dissertation topics, collect and analyze relevant data to support your findings. It may involve conducting surveys, interviews, experiments, and analyzing existing datasets. Choose appropriate statistical techniques and qualitative methods to derive meaningful insights from your data.

5. Structure and Organization

Pay attention to the structure and organization of your dissertation. Follow a logical progression of chapters and sections, ensuring that each chapter contributes to the overall coherence of your study. Use headings, subheadings, and clear signposts to guide the reader through your work.

6. Proofread and Edit

Once you have completed the writing process, take the time to proofread and edit your dissertation carefully. Check for clarity, coherence, and proper grammar. Ensure that your arguments are well-supported, and eliminate any inconsistencies or repetitions. Pay attention to formatting, citation styles, and consistency in referencing throughout your dissertation.

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Finance Dissertation Topics

Now that you know what a finance dissertation is and why they are important, it's time to have a look at some of the best Finance dissertation topics. For your convenience, we have segregated these topics into categories, including cryptocurrency, risk management, internet banking, and so many more. So, let's dive right in and explore the best Finance dissertation topics:

Dissertation topics in Finance related to Cryptocurrency

1. The Impact of Regulatory Frameworks on the Volatility and Liquidity of Cryptocurrencies.

2. Exploring the Factors Influencing Cryptocurrency Adoption: A Comparative Study.

3. Assessing the Efficiency and Market Integration of Cryptocurrency Exchanges.

4. An Analysis of the Relationship between Cryptocurrency Prices and Macroeconomic Factors.

5. The Role of Initial Coin Offerings (ICOs) in Financing Startups: Opportunities and Challenges.

Dissertation topics in Finance related to Risk Management

1. The Effectiveness of Different Risk Management Strategies in Mitigating Financial Risks in Banking Institutions.

2. The Role of Derivatives in Hedging Financial Risks: A Comparative Study.

3. Analyzing the Impact of Risk Management Practices on Firm Performance: A Case Study of a Specific Industry.

4. The Use of Stress Testing in Evaluating Systemic Risk: Lessons from the Global Financial Crisis.

5. Assessing the Relationship between Corporate Governance and Risk Management in Financial Institutions.

Dissertation topics in Finance related to Internet Banking

1. Customer Adoption of Internet Banking: An Empirical Study on Factors Influencing Usage.

Enhancing Security in Internet Banking: Exploring Biometric Authentication Technologies.

2. The Impact of Mobile Banking Applications on Customer Engagement and Satisfaction.

3. Evaluating the Efficiency and Effectiveness of Internet Banking Services in Emerging Markets.

4. The Role of Social Media in Shaping Customer Perception and Adoption of Internet Banking.

Dissertation topics in Finance related to Microfinance

1. The Impact of Microfinance on Poverty Alleviation: A Comparative Study of Different Models.

2. Exploring the Role of Microfinance in Empowering Women Entrepreneurs.

3. Assessing the Financial Sustainability of Microfinance Institutions in Developing Countries.

4. The Effectiveness of Microfinance in Promoting Rural Development: Evidence from a Specific Region.

5. Analyzing the Relationship between Microfinance and Entrepreneurial Success: A Longitudinal Study.

Dissertation topics in Finance related to Retail and Commercial Banking

1. The Impact of Digital Transformation on Retail and Commercial Banking: A Case Study of a Specific Bank.

2. Customer Satisfaction and Loyalty in Retail Banking: An Analysis of Service Quality Dimensions.

3. Analyzing the Relationship between Bank Branch Expansion and Financial Performance.

4. The Role of Fintech Startups in Disrupting Retail and Commercial Banking: Opportunities and Challenges.

5. Assessing the Impact of Mergers and Acquisitions on the Performance of Retail and Commercial Banks.

Dissertation topics in Finance related to Alternative Investment

1. The Performance and Risk Characteristics of Hedge Funds: A Comparative Analysis.

2. Exploring the Role of Private Equity in Financing and Growing Small and Medium-Sized Enterprises.

3. Analyzing the Relationship between Real Estate Investments and Portfolio Diversification.

4. The Potential of Impact Investing: Evaluating the Social and Financial Returns.

5. Assessing the Risk-Return Tradeoff in Cryptocurrency Investments: A Comparative Study.

Dissertation topics in Finance related to International Affairs

1. The Impact of Exchange Rate Volatility on International Trade: A Case Study of a Specific Industry.

2. Analyzing the Effectiveness of Capital Controls in Managing Financial Crises: Comparative Study of Different Countries.

3. The Role of International Financial Institutions in Promoting Economic Development in Developing Countries.

4. Evaluating the Implications of Trade Wars on Global Financial Markets.

5. Assessing the Role of Central Banks in Managing Financial Stability in a Globalized Economy.

Dissertation topics in Finance related to Sustainable Finance

1. The impact of sustainable investing on financial performance.

2. The role of green bonds in financing climate change mitigation and adaptation.

3. The development of carbon markets.

4. The use of environmental, social, and governance (ESG) factors in investment decision-making.

5. The challenges and opportunities of sustainable Finance in emerging markets.

Dissertation topics in Finance related to Investment Banking

1. The valuation of distressed assets.

2. The pricing of derivatives.

3. The risk management of financial institutions.

4. The regulation of investment banks.

5. The impact of technology on the investment banking industry.

Dissertation topics in Finance related to Actuarial Science

1. The development of new actuarial models for pricing insurance products.

2. The use of big data in actuarial analysis.

3. The impact of climate change on insurance risk.

4. The design of pension plans that are sustainable in the long term.

5. The use of actuarial science to manage risk in other industries, such as healthcare and Finance.

Tips To Find Good Finance Dissertation Topics 

Embarking on a financial dissertation journey requires careful consideration of various factors. Your choice of topic in finance research topics is pivotal, as it sets the stage for the entire research process. Finding a good financial dissertation topic is essential to blend your interests with the current trends in the financial landscape. We suggest the following tips that can help you pick the perfect dissertation topic:

1. Identify your interests and strengths 

2. Check for current relevance

3. Feedback from your superiors

4. Finalise the research methods

5. Gather the data

6. Work on the outline of your dissertation

7. Make a draft and proofread it

In this blog, we have discussed the importance of finance thesis topics and provided valuable writing tips and tips for finding the right topic, too. We have also presented a list of topics within various subfields of Finance. With this, we hope you have great ideas for finance dissertations. Good luck with your finance research journey!

Frequently Asked Questions

How do i research for my dissertation project topics in finance, what is the best topic for dissertation topics for mba finance, what is the hardest finance topic, how do i choose the right topic for my dissertation in finance, where can i find a dissertation topic in finance.

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PhD students from Nigeria can still bring dependents to UK, says British High Commissioner

Dr. Richard Montgomery, the British High Commissioner to Nigeria, stated that although some international students are prohibited from bringing dependents, those enrolled in PhD programs are still allowed to bring dependents into the country.

Montgomery shared this information during an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.

He mentioned that the policy change, which was implemented earlier this year, prohibits international students in higher education from bringing dependents to the UK.

Related Stories

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According to him, this decision was made to address the growing issue of many foreign students bringing dependents.

He noted that the unsustainable pressure on numerous universities due to the influx of dependents led to the introduction of these policy changes.

He pointed out that university Chancellors had raised concerns about the large student populations, specifically noting challenges such as limited accommodation, access to medical services through the National Health Service, and schooling for dependents.

Recommended reading: Canada: International students now allowed to work 24 hours per week to fund studies

Montgomery explained that the restrictions are not universal, highlighting that those pursuing long-term research degrees, such as PhDs or doctorates, are exempt from these limitations.

• “Those coming to the UK for doctorate can still bring their dependency but if you are coming to the UK with a study visa for an undergraduate degree, or short term master’s degree am afraid the rules have been changed.
• “People need to understand why this change was brought in, and it is a sensible change because we have a large higher education sector and most of these universities are in towns across the country.
• “I really like the demand but there are other factors at play in terms of schooling in the UK , the value of the Naira in the coming months will also determine how easy or hard it will be for many people to afford our education.
• “But I really hope that the number of people who bring dependents in UK may actually not be a majority, but a minority of people have tried to study in the UK so am hoping that the demand will be sustained,” he said.
• Earlier in January, Nairametrics reported that The UK government has recently introduced measures to restrict Nigerian and other international students from bringing their families as dependents while studying in the country, except in specific circumstances.
• It stated that these students will no longer be able to bring dependants with them unless they are on postgraduate courses that are currently designated as research programmes.
• The government under the new package said that it also removed the ability for international students to switch out of the student route and into work routes before their studies have been completed “to prevent misuse of the visa system.
• According to Sky News, this was made known by the UK Home Secretary, Suella Braverman, who said that this is part of the mechanism to reduce net migration.

Recommended reading: Only UK’s top-performing universities should sponsor international students – Report 

Cyrus Ademola

• Cyrus Ademola is a political and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and political analysis. His works have been featured on different media outlets, covering from politics to business trends, to crime and security as well as the real estate sector.

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Ethereum blockchain adds 267,000 fresh wallets beating two year record

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• Discover Student Loans Details

How to Apply For Discover Student Loans

Types of student loans offered by discover, discover student loans frequently asked questions.

• How Discover Student Loans compare
• Why you should trust us

Discover Student Loans Review 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate student loans to write unbiased product reviews.

Discover Student Loans is a solid student loan lender with a cash reward for borrowers who receive at least a 3.0 GPA. The lender has no fees — but you can find more competitive APRs with the best private student loans . 

0.25% discount on regular rates with automatic payments

6.49% - 17.37% variable and 5.24% - 15.99% fixed

Undisclosed

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No origination fee
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No prepayment penalty
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No late fee
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cash reward for 3.0 GPA
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. International students eligible with an eligible cosigner
• con icon Two crossed lines that form an 'X'. Credit check required
• con icon Two crossed lines that form an 'X'. One standard repayment term
• con icon Two crossed lines that form an 'X'. High APR
• con icon Two crossed lines that form an 'X'. Only one branch location

Discover is a solid student loan lender with a cash reward for borrowers who receive at least a 3.0 GPA. The lender has no fees — but you can find more competitive APRs elsewhere.

• Apply by phone or through your computer or mobile device
• 100% US-based customer service available 24/7
• $1,000 loan minimum
• 15 years standard repayment term length
• Loan amounts available: $1,000 minimum, up to 100% cost of attendance
• Repayment options available:
• Deferred: No payments for up to six months after leaving school
• Interest only: Only make payments on the loan's interest while in school and during grace period
• Fixed payments: Pay $25 per month while in school and during grace period

Discover Student Loans

To qualify for a Discover Student loan, you must:

• Be enrolled at least half-time in a program (undergraduate, graduate, law school, MBA, health program) at an eligible school
• Be pursuing a degree
• Be making adequate academic progress as determined by your school
• Be a US citizen, permanent resident, or international student (international students need to have a cosigner who is a US citizen or permanent resident)
• Be 16 years or older when you apply
• Pass a credit check

Before applying for any private student loan, including with Discover, make sure to consider your federal student loan options, as you can often find more favorable terms and better protections through the government.

To contact customer support, call the lender 24 hours a day, seven days a week. The company has both a US number and an international number. If calling isn't the best work for you, you can also send mail to Discover's Utah address. 

Discover has a well-reviewed app that has received 4.8 out of 5 stars on the Apple store and 4.6 out of  5 stars on the Google Play store. If you want to manage your loan on the go, this could be helpful. 

Discover Student Loan Pros and Cons

• Cash reward for good grades . You may qualify for Discover's one-time 1% cash reward on its student loans if you get a GPA of 3.0 or higher for any academic term covered by the loan. You'll need to redeem your reward within six months after the loan's disbursement or six months after the academic term has ended, whichever is later.  
• No origination fee . Other lenders charge origination fees which are deducted from your overall loan proceeds. 
• No late fees . If you fall behind on your payments, Discover won't hit you with any unexpected charges. 
• Relatively high APRs compared to competitors . You may qualify for lower rates if you pick a different lender and your credit score is in excellent shape.
• Only one term length for undergraduate and graduate loans . When you take out a loan with Discover, you'll get a 15-year term length. This limits your flexibility in how you repay the loan — though you can always pay it off early with no penalty. 
• One physical branch . Borrowers looking for in person support will be hard pressed to find it with Discover. 

Who Is Discover Best For?

Discover student loans are a great option for borrowers looking to avoid fees — you won't pay any with the company. Additionally, the lender has 24/7 support if you have any questions about your loans.

However, borrowers with excellent credit may find better rates elsewhere. 

1. Gather required information . This includes your Social Security number, your school of enrollment, the loan amount you need, your address, and certain financial documents.

2. Fill out the online application . You're apply to complete the application in just several minutes, and after doing so you'll get your rates. 

3. Submit required supplementary documents . Discover may need to see financial documents including proof of income and residency. 

4.  Sign your loan agreement . After you get all your documents in order, Discover will send you a formal loan agreement. Discover will fund your loan after you sign on the dotted line. 

Discover offers student loans for a variety of different types of degrees, including:

• Undergraduate
• Health professions

Discover Undergraduate Student Loans

You may like Discover's undergraduate student loans if you want to avoid fees, as the lender doesn't have any prepayment penalties, origination fees, or late charges. However, you may be able to find lower fixed rates with competitors.

You might be eligible for a one-time 1% cash reward available on Discover student loans if you get a GPA of 3.0 or higher for any academic term covered by the loan. You'll need to redeem your reward within six months after the loan's disbursement or six months after the academic term has ended, whichever is later.  

Discover Graduate Student Loans

Discover's graduate student loans function similarly to the lender's undergraduate loans. The major difference between the two is the repayment term length; the graduate loans are for 20 years, while the undergraduate loans are for 15 years. You'll still get a loan with no fees and will be eligible for Discover's one-time 1% cash reward on its student loans.

Yes, Discover offers student loans at competitive rates and has around the clock customer service for any questions you have.

Discover does not disclose the minimum credit score it will consider for student loans.

You can borrow up to 100% of the cost of attendance. 

While there is always a possibility the company could decide to forgive student loans, the chances are extremely slim. No private loans will likely be forgiven. 

The Better Business Bureau rates Discover with an A+ grade , indicating that the BBB has determined that the is company honest in how it handles business, responds effectively to consumer complaints, and is truthful in its advertising. 

Discover Student Loans Competitors

Compare Discover Student Loans against the competition.

Discover Student Loans vs. College Ave Student Loans

You can get a lower minimum APR on your loan with College Ave than with Discover, so if your credit is in good shape, College Ave might be the better choice. 

College Ave has a quicker application process than Discover, as you can get a rate in a few minutes with College Ave, and it will take roughly 15 minutes with Discover. This may not be a dealbreaker, but if you want to speedily compare multiple rates, College Ave could be a better place to start. 

Discover student loans offer a unique perk that College Ave does not. Discover has a one-time 1% cash reward on its student loans if you achieve a GPA of 3.0 or higher during any academic term covered by the loan. You have to redeem your reward within six months after your loan is disbursed or six months after your academic term is over, whichever is later.  

You won't pay any origination fees, prepayment penalties, or late fees with either company.

College Ave Student Loans Review

Discover Student Loans vs. Ascent Student Loans 

Ascent has five repayment terms available with co-signed loans, five, seven, 10, 12, or 15 years. Discover has only one standard term available, 15 years. 

You may be eligible for a 1% cash reward with Ascent and Discover. Neither company charges origination fees or prepayment penalties, but Ascent may charge a late fee while Discover does not. 

Ascent Student Loans Review

Why you should trust us: How we rated Discover student loans

We rate all student loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:

• Interest rate (20% of rating)
• Fees (20% of rating)
• Term lengths (15% of rating)
• Repayment options while in school (15% of rating)
• Borrower accessibility (15% of rating)
• Customer support (7.5% of rating)
• Ethics (7.5% of rating)

Each category's weighting is determined based on its importance to your borrowing experience. Rates and fees have the most significant impact on the total cost of your loan, so we weigh those the most heavily. Customer support and ethics are still crucial parts of the borrowing experience, but do not directly tie to a student loan's terms, so they have less of an impact on the overall rating.

When considering whether or not Discover is right for you, consider its additional product lines:

• Best Discover Credit Cards
• Discover Personal Loan Review
• Discover Bank Review
• Discover Savings Account Review
• Discover CD Rates
• Discover Home Loans Review

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

**Enrollment required.

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Student finance for undergraduates

You may be able to borrow money to help pay for university or college tuition fees and to help with living costs.

You might get extra money on top of this, for example if you’re on a low income, are disabled or have children.

You may be able to get student finance even if you’re not from the UK.

Find out if you’re eligible .

If you’re a continuing student or you’ve already created an account, log in to your account .

Before you apply

You start repaying once you earn over a certain amount. The size of your monthly repayments will depend on how much you earn, not what you owe.

You’ll be charged interest on the loan from the day you take it out. The terms and conditions can change.

Student loans: a guide to terms and conditions 2023 to 2024

Student loans: a guide to terms and conditions 2024 to 2025

The rules are different if your course started before September 2016 .

Read the student finance privacy notice to find out how the information you provide will be used.

You can give someone permission to act on your behalf (for example using Power of Attorney) if you want them to apply for you.

How to apply

Find out how to apply for student finance.

If you’re under 25 and have no contact with your parents, you might be able to apply as an ‘ estranged student ’.

If you spent at least 13 weeks in the care of your local authority before you turned 16, you might be able to apply as a care leaver .

If you’re not from England

There’s a different process if you’re:

• a student from Scotland
• a student from Wales
• a student from Northern Ireland
• a student from Jersey
• a student from Guernsey
• a student from Isle of Man

Part of Get undergraduate student finance: step by step

Step 1 : check if you're eligible.

• Check if you're eligible for student finance

There’s a different process if you’re a student from:

• Northern Ireland
• Isle of Man

Step 2 : Find out how much loan you could get

Find out the maximum tuition fee and maintenance loan you could get if you're a:

• new full-time student
• continuing full-time student
• part-time student
• student who started before 1 August 2016

How much maintenance loan you get depends on where you'll study and your household income.

• Use the student finance calculator to estimate your maintenance loan

You'll have to pay back any loan you get.

• Find out how much you'll repay
• Find out when you'll start repaying

and Check if you can get extra help

You might be able to get extra money if you:

• are under 25, have no contact with your parents and support yourself
• pay for childcare
• are a full-time student with children
• have an adult who depends on you financially
• have a disability, mental or physical health problem or learning difficulty like dyslexia

You might also be able to get other financial help, for example from your university or the government.

• Find out about extra help

Step 3 : Prepare your application

• Check when you can apply
• Check what ID you'll need
• Check if you need to give proof of your household income

Step 4 : Apply online

• Apply online

If you're eligible for Tuition Fee Loans, Maintenance Loans, or Maintenance Grants, you can apply online.

You'll need to create a student finance account if you're a new student or sign into an existing account if you're a returning student.

It can take up to 6 weeks to process your application. You might have to provide extra evidence.

or Apply by post

• Apply by post

If you’re eligible for tuition fee-only funding, you must complete a form and send it by post instead. You cannot apply online.

You can also apply by post if you're unable to apply online.

Step 5 : Update your details if your circumstances change

You must update your application if your circumstances change. For example if you:

• change your course through clearing
• change where you're going to live - for example with your parents instead of halls
• Find out how to update your application

Step 6 : Make sure you can be paid

After you register at your university or college you'll usually get your maintenance loan paid directly into your bank account at the start of each term.

Use your student finance account to:

• update your bank details - for example if you open a student account
• check how much you'll be paid
• check when you'll be paid
• Sign in to your student finance account

Step 7 : Check what to do while you're studying

You'll need to reapply for student finance for each year of your course.

You must keep your details up to date throughout your course because some changes can affect your loan payments, for example if your household income or bank details change.

• Check how to update your details
• Find out what to do if you suspend or leave your course

Step 8 : Check what to do when you stop studying

When you stop studying the Student Loans Company (SLC) will create a student loans repayment account for you.

Make sure your contact details are up to date in your repayment account. The log in details will be the same as for your student finance account.

• Sign in to your student loan repayment account
• Update your employment details

Step 9 : Repay your loan

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