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Ph.D. in Finance

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Distinguish yourself as a leading finance scholar.

Our Ph.D. in Finance program educates and empowers students as they develop into leading industry scholars. We deliver a comprehensive curriculum paired with a hands-on research approach that involves doctoral students in research projects with faculty members early in their degree program.

 

Curriculum Overview

The research interests of the department cover all of the major areas of finance, including corporate finance, behavioral finance, international finance, financial intermediation, financial markets, portfolio theory, empirical investments and theoretical asset pricing.

All students who enter the Ph.D. in Finance program choose a program of study in consultation with the department’s doctoral program director. A typical student’s program covers a broad range of topics, including microeconomics, econometrics, corporate finance and investments (outlined below).

Semester 1 (Fall)

Semester 2 (Spring)

 

First Summer Research

  • Research-related activity under supervision of faculty.

Semester 3 (Fall)

Semester 4 (Spring)

Second Summer

Comprehensive exams are taken during late spring. After passing this exam, the student can begin working on the doctoral dissertation under the supervision of an individual faculty member.

Years 3 and 4 (and 5, if necessary)

Student conducts individual research, culminating in a doctoral dissertation. The dissertation proposal and defense are oral presentations made before the student’s dissertation committee.

Dive Deeper

Students are admitted to the finance doctoral program only for the fall semester and on a full-time basis. Find out more about admission criteria and the application process.

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Faculty-student collaboration is a significant part of the Broad experience. Finance doctoral students have the opportunity to work with some of the top researchers across multiple disciplines. Find out more about the research opportunities for finance doctoral students at MSU.

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The finance faculty at Michigan State University are outstanding in their field and have diverse research interests. Meet our faculty currently working with Ph.D. students in the finance doctoral program.

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See a roster of current doctoral students in the program as well as a listing of our graduates’ placements at research institutions across the globe over the last decade.

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Tuition and Financial Aid

All admitted students (domestic and international) are eligible for a graduate assistantship. In the past all admitted students have been guaranteed four years of financial support, including a tuition credit and a monthly stipend. Students typically find that the stipend is sufficient to cover their living expenses. Eligible students may receive a fifth year of support, if required.

 

Contact Information

  • Department of Finance
  • Eppley Center
  • 667 N Shaw Ln Rm 315
  • East Lansing, MI 48824
  • Phone: (517) 353-1745
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Frequently Asked Questions

Program Overview

  • What are you looking for in a student?

    We are looking for students who have strong analytical minds, yet who are also creative thinkers. We find that some of these students have come from traditional business programs, but many others come from more quantitative fields, including engineering, economics, math, statistics and the natural sciences. Students with business education backgrounds should make sure that they have the quantitative skills to survive in a Ph.D. finance program. Students with more quantitative backgrounds should make sure that they are familiar with MBA-level finance and are committed to using their quantitative skills to tackle finance research questions.

  • Can I study part time?

    No. The finance program is an extremely intense program requiring a large time investment. Most of our students find that they study at least twice as many hours a week as they did during their undergraduate or master’s studies.

  • What types of students are in the Ph.D. in Finance program?

    Historically, more than half of our students are international, drawn primarily from Europe and Asia. Many of our international students have a prior degree from a U.S. school. Most, but not all, of our recent students have a master’s degree. Our students’ prior degrees are quite diverse and include engineering, economics, math, statistics and finance.

  • What types of jobs do your graduates receive?

    We train students for research and teaching careers. Most graduates have secured positions at U.S. or international universities. A small number of students have chosen to pursue careers in consulting or industry. See the Students and Placements page for more information.

Financial Aid

  • Who is eligible for financial aid?

    All admitted students (domestic and international) are eligible for a graduate assistantship. In the past, all admitted students have been guaranteed four years of financial support, including a tuition credit, health insurance coverage, and a monthly stipend. Students typically find that the stipend is sufficient to cover their living expenses. In most cases, students can receive a fifth year of support, if required.

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