Department of Finance

PhD Programme in Finance

The PhD programme in Finance at Aalto University School of Business is intended for candidates of excellent academic background and intellectual ambition who are motivated in producing research at the highest international level and pursuing careers in the academic and business world.

The placement record of Aalto Finance PhDs is excellent. Our academic placements include Vrije Universiteit Amsterdam, ESCP Paris, Ohio State University, Erasmus University Rotterdam, Hong Kong University of Science and Technology, University of Miami, Imperial College Business School, Luxembourg School of Finance, Catholic University of Lisbon and London Business School. The Aalto Finance PhD programme provides a solid basis for starting an international academic career.
PhD lecture in Finance, photo: Roope Kiviranta

Structure of the programme

The 4-year Aalto Finance PhD programme resembles the US-style programme. One and a half years at the beginning of the studies are devoted mostly to intensive course work that is followed by research for the PhD dissertation. Aalto Finance PhD students follow the course curriculum of the Graduate School of Finance (GSF), the national PhD programme in Finance. GSF offers yearly 5-7 core PhD Finance courses. In addition, students take Economics PhD courses offered by the Helsinki Graduate School of Economics.

Course Curriculum of PhD studies in FinanceThe local courses are complemented by intensive Finance PhD courses organized within the Nordic Finance Network (NFN), which is a collaborative Nordic network for research and doctoral training among the Finance departments in the Nordic countries. All teaching in the PhD programme is in English and there are no tuition fees.

List of former PhD students' academic placements.

Read about Assistant Professor Petra Vokatá's experiences as a Finance PhD student at Aalto University School of Business 


New students will be accepted once a year. Application period will open on December 11, 2023 and the deadline for applications is January 11, 2024.

Details about the application process (under "How to Apply?")


There are no tuition fees for the PhD programme at Aalto University School of Business. The School commits to providing funding for at least the first two years for accepted Doctoral Candidates who proceed successfully with their doctoral studies and research. From year three onwards the studies are funded by research projects, grants from foundations, the finance department or a combination of these. All Finance PhD students have received funding throughout their studies, subject to performance.

For more information about the Aalto Finance PhD Programme, please download our brochure (PDF) below.

For your questions regarding the PhD programme, please e-mail [email protected]

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