PhD in Finance at Aalto University School of Business


Aalto University School of Business is one of the leading business schools in Europe. The School of Business is an innovative and lively community of about 3 500 students and 400 members of faculty and staff. Finland offers a great setting for students and is consistently ranked high in quality-of-life studies. The annual Global Happiness Report has named Finland as the happiest country in the world five years in a row since 2018 and the 2019 Work-Life Balance Index listed Helsinki as the best city for work-life balance.

The Doctoral Programme at the Aalto University School of Business is intended for candidates of excellent academic background motivated in pursuing full-time doctoral studies and producing research of the highest international level.

The Finance Department is strongly dedicated to research, as shown by a stream of research published in top Finance and Economics journals. The Department runs an excellent seminar series and is equipped with all major Finance databases. Many faculty members also have access to unique registry-based data sets from Finland. Close contact and interaction with the Aalto Finance Faculty ensure high-quality PhD supervision in the several expertise areas of the faculty members. Being a PhD student at Aalto gives access to the very latest developments in international finance research via weekly meetings of the Helsinki Finance Seminar. Aalto provides students with an exciting and international research environment as well as interaction with seminar speakers and other visitors. For further information on the Finance Department, please visit the department web page:

The Aalto Finance PhD programme is a four-year US-style programme. The curriculum includes doctoral courses in Finance and related disciplines, active participation in research seminars, and a doctoral dissertation. The first one and a half years or so at the beginning of the studies are devoted to intensive coursework. Doctoral students in Finance follow the course curriculum of the Graduate School of Finance (GSF), the national PhD programme hosted by Aalto University. The local courses are complemented by intensive Finance PhD courses organized within the Nordic Finance Network (NFN), which is a collaborative network for research and doctoral training among the Finance departments in the Nordic Countries.

The ultimate test of any PhD programme is its placement record. Here the track record of Aalto Finance PhDs is excellent. Our academic placements include 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 career in aca¬demia, policy-related work or industry. For further information on the Finance PhD Programme, visit or feel free to contact us by e-mail at

There are no tuition fees for the PhD programme at the Aalto University School of Business. The School commits to providing funding for 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, the school, or a combination of these. All Finance PhD students have received funding throughout their studies, subject to performance.

For further details on admission criteria, detailed instructions on how to apply and the exact submission time, please visit the web page:

Application period will open on December 12, 2022 and the deadline for applications is January 12, 2023.

Applications will be evaluated by academic departments based on previous academic performance, research potential, motivation, performance in standardized tests, and references. Candidates must be available for a potential interview. The Dean decides on admissions based on departmental assessments.