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Course overview
Develop cutting-edge research skills and make significant contributions to the field of finance research. You’ll benefit from world-class resources, expert supervision, and a vibrant academic community, preparing you for a successful career in academia, industry, or government.
Our PhD in Finance will ensure you understand the broad range of modern social science research techniques, both qualitative and quantitative. You’ll engage deeply with the Department of Finance and the Business School, attending seminars and participating in workshops and conferences. This exposure to diverse ideas and rigorous training prepares you to excel in academia, industry, or government, making significant contributions to the field of finance.
Course structure
Doctoral researchers in Finance are registered for a full time 3-year PhD or a part-time 6-year PhD. The programme comprises a short taught component followed by a longer research phase.
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). You 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 your supervisor, as appropriate for the your research topic. 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.
Course highlights
The PhD in Finance is designed to facilitate the creation and interpretation of new knowledge, demonstrated through your thesis. Throughout the programme, you’ll develop the ability to characterise and solve complex business and financial problems using advanced research tools. You’ll also learn to derive policy implications from your research and communicate these effectively to policymakers, practitioners, and other academics. Additionally, you’ll gain skills in peer reviewing research and offering constructive criticism, further extending the frontiers of the discipline through your innovative work.
- Rigorous Academic Training: The programme includes a short taught component that covers advanced research methods, ensuring you have a solid foundation in both qualitative and quantitative techniques.
- Research Excellence: You’ll conduct high-quality, original research under the guidance of leading academics, contributing new knowledge to the field of finance.
- Diverse Career Opportunities: Graduates are well-prepared for careers in academia, government, financial institutions, and multinational corporations, with a deep understanding of contemporary financial and business issues.
- Supportive Environment: You’ll benefit from a vibrant academic community and dedicated supervisory team, providing regular feedback and support throughout your studies.
Research projects
At Birmingham, you can apply for an advertised PhD or propose your own research. An advertised PhD is typically part of an established research project and is usually funded by the University or another funding body.
If you want to pursue your own research project, you can apply to our research programmes to propose this. This is self-funded although scholarships are available.
Find an Advertised PhD
Find a PhD project that suits your interests by using our FindAPhD tool.
Find a supervisor
If you’d rather propose your own research, the first step is to find your supervisor. We encourage you to browse the biographies of faculty members to familiarise yourself with the research going on in your preferred areas. Each of these contains detailed information on research interests, current projects and recent publications.
When you apply, you can suggest one or two potential supervisors, who you think might be a good fit for you. However, this is not essential. If you know what you want to work on, but are unsure on supervisors, you can indicate this in your application and the PhD programme co-directors will study your proposal in detail, and judge who is best suited to be your supervisory team.
Entry requirements
To gain a place at Birmingham you will need to meet our general entry requirements, as well as those specific to your course. Your application will be reviewed by the course’s Admissions Tutor, who will decide whether your application should receive an offer.
- Good honours degree (1st or upper 2nd class)
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.
English language requirements
If you are an international student, you will need to demonstrate you have a suitable level of English proficiency, usually through the form of an IELTS or equivalent qualification.
For this course we require IELTS 7.0 with no less than 6.5 in any band, which is equivalent to:
- TOEFL: 95 overall with no less than 22 in any component
- Pearson Test of English (PTE): Academic 76 with no less than 67 in all four skills
- Cambridge English: C1 Advanced or C2 Proficiency - minimum overall score of 185, with no less than 176 in any component
- LanguageCert ESOL SELT (UKVI): C1 'Expert' with no less than 25 in each skill
Research proposal
If you are proposing your own research topic, you will need to submit a research proposal. It’s a key part of your application, so take your time. Your potential supervisors will use it to decide if your research is something they can support.
Your proposal should be a clear and concise summary of your research. It generally consists of an outline of your proposed research project, including your main research questions and the methods you intend to use.
You should also comment on the potential impact and importance of your intended research and on how your work would interact with current trends in your academic field. It should illustrate the relevance of your topic to the research interests and expertise of the staff within your chosen department.
Fees and scholarships
- £4,921
Full-time
- £2,461
Part-time
Funding options
Apply for a PhD that already has funding attached
These are most common in STEM (Science, Technology, Engineering and Medicine) subjects, but they can sometimes be available for pre-defined research projects in the arts, humanities or social sciences. These may be advertised as fully funded (with fees and a stipend) or competition funded, meaning the projects compete against other projects at each institution.
Self-fund, or search for funding or a studentship once you have an offer
You devise your own PhD topic, find a supervisor, write a research proposal and apply to the relevant programme. If you’re offered a place at Birmingham, you can then apply for studentships or funding from various sources. Our Postgraduate Scholarships and Funding database lists all available funding.
A limited number of scholarships and studentships may be available to outstanding applicants. For further information, please explore our scholarships and funding database.
Application process
To apply for a postgraduate research programme, you will need to submit your application and supporting documents online.
If you are applying to an ‘advertised PhD’, please check the details of the specific research project for application deadlines.
If you are submitting your own research proposal, applications are accepted all year round. However, if you wish to start in September, we would encourage you to apply by 1 June. Whilst you are still welcome to apply after this date, it is important to allow time for us to review your application.
If you are seeking funding, please be aware that the majority of funding opportunities have deadlines in early spring so we would encourage you to apply as early as possible.
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.
How to apply to our taught courses
Find out how to apply to our postgraduate taught programmes. Please read this information carefully before completing your application.
Frequently Asked Questions
If you have a question about our admissions process, including how to apply, your offer and how to track your application, please visit our admissions portal.
Career opportunities
Our doctoral researchers have diverse career paths ahead of them, including academia, government, business, supranational organisations, and the research arms of major financial institutions. You will gain a profound understanding of current financial and business issues, enabling them to lead societal debates. Additionally, you will be well-versed in the functions of key institutions at both national and international levels.
Careers Network
Get ready for tomorrow, with advice, guidance and opportunities at every step of your studies. From developing new skills to preparing for a PhD, our Careers Network can help you gain an advantage in the job market or advance in your field.
Whatever you plan to do after your degree, the Careers Network offers a range of events and support services including networking opportunities, career coaching, one-to-one guidance, careers fairs and links with leading graduate recruiters. We also offer subject-specific careers consultants and a dedicated careers website for international students.