phd program in finance rankings

Doctor of Finance Programs in America

1-18 of 18 results

Wharton School

• Philadelphia, PA ·
• University of Pennsylvania ·
• Graduate School
• · Rating 4.59 out of 5   17 reviews

University of Pennsylvania, Graduate School, PHILADELPHIA, PA. 17 Niche users give it an average review of 4.6 stars. Featured Review: Master's Student says There are plenty of majors and courses to choose from. Course Match, which is the system we use to select classes allows students to create their schedule based on their preferences and class seats... Read 17 reviews.

Kellogg School of Management

• Evanston, IL ·
• Northwestern University ·
• · Rating 4.75 out of 5   20 reviews

Northwestern University, Graduate School, EVANSTON, IL. 20 Niche users give it an average review of 4.8 stars. Featured Review: Master's Student says As mentioned in the previous questions, I have not graduated yet. To this point, I feel as though it has been preparing me to lead teams and develop a successful career. Current stressor is the ROI,... Read 20 reviews.

Tepper School of Business

• Pittsburgh, PA ·
• Carnegie Mellon University ·
• · Rating 4.8 out of 5   15 reviews

Blue checkmark. Carnegie Mellon University, Graduate School, PITTSBURGH, PA. 15 Niche users give it an average review of 4.8 stars. Featured Review: Master's Student says Today I finished my last day of a month-long orientation for my MBA at the Tepper school of Business. I have had a great experience so far, all of the staff and alum that I have connected with have... Read 15 reviews.

Leonard N. Stern School of Business

• New York, NY ·
• New York University ·
• · Rating 4.82 out of 5   28 reviews

Blue checkmark. New York University, Graduate School, NEW YORK, NY. 28 Niche users give it an average review of 4.8 stars. Featured Review: Master's Student says As a part-time MBA candidate at NYU Stern, I'm deeply impressed by the program's blend of academic rigor and practical application. The faculty, industry leaders in their own right, provide... Read 28 reviews.

Carroll School of Management

• Chestnut Hill, MA ·
• Boston College ·
• · Rating 5 out of 5   2 reviews

Boston College, Graduate School, CHESTNUT HILL, MA. 2 Niche users give it an average review of 5 stars. Featured Review: Master's Student says I am currently enrolled in the part time, professional evening MBA program. So far it has brought me to communicate with like minded individuals and the professors truly want to see you succeed so... Read 2 reviews.

McCombs School of Business

• Austin, TX ·
• University of Texas - Austin ·
• · Rating 4.57 out of 5   14 reviews

University of Texas - Austin, Graduate School, AUSTIN, TX. 14 Niche users give it an average review of 4.6 stars. Featured Review: Master's Student says Being in the accounting program at UT Austin has been a remarkable opportunity for me. The best part of being an accounting major at McCombs is the diverse set of classes that students can utilize to... Read 14 reviews.

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Mays Business School

• College Station, TX ·
• Texas A&M University ·
• · Rating 2 out of 5   3 reviews

Texas A&M University, Graduate School, COLLEGE STATION, TX. 3 Niche users give it an average review of 2 stars. Featured Review: Graduate Student says Im starting in the summer and my experience has been great. I will be entering as an MD/MBA student starting with the MBA. Read 3 reviews.

Eli Broad College of Business

• East Lansing, MI ·
• Michigan State University ·
• · Rating 5 out of 5   1 review

Michigan State University, Graduate School, EAST LANSING, MI. 1 Niche users give it an average review of 5 stars. Featured Review: Current Master's student says The program has exelcent professors and organization which is appreciated since I am attending the EMBA program and do not want to waste time. Read 1 reviews.

Culverhouse College of Business

• Tuscaloosa, AL ·
• The University of Alabama ·

Blue checkmark. The University of Alabama, Graduate School, TUSCALOOSA, AL.

University of Connecticut School of Business

• Storrs, CT ·
• University of Connecticut ·
• · Rating 4.8 out of 5   10 reviews

University of Connecticut, Graduate School, STORRS, CT. 10 Niche users give it an average review of 4.8 stars. Featured Review: Other says Absolutely! Beyond the academics, UConn Waterbury offered a vibrant campus life. From clubs and organizations to cultural events and sports, there was always something exciting happening. The sense... Read 10 reviews.

Charles H. Lundquist College of Business

• Eugene, OR ·
• University of Oregon ·
• · Rating 5 out of 5   6 reviews

University of Oregon, Graduate School, EUGENE, OR. 6 Niche users give it an average review of 5 stars. Featured Review: Master's Student says This is my first year, but all the information I have received and the "pre classes" I have attended have been excellent. Read 6 reviews.

Louisiana State University - College of Science

• Baton Rouge, LA ·
• Louisiana State University ·

Louisiana State University, Graduate School, BATON ROUGE, LA.

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J. Mack Robinson College of Business

• Atlanta, GA ·
• Georgia State University ·
• · Rating 3.5 out of 5   6 reviews

Blue checkmark. Georgia State University, Graduate School, ATLANTA, GA. 6 Niche users give it an average review of 3.5 stars. Featured Review: Master's Student says I am a student at Robinson college of business at Georgia State University. The courses are excellent and provide you with a great opportunity to enhance your knowledge. Most of the professors at RCB... Read 6 reviews.

College of Business - University of Texas - San Antonio

• San Antonio, TX ·
• The University of Texas at San Antonio ·
• · Rating 4.67 out of 5   3 reviews

The University of Texas at San Antonio, Graduate School, SAN ANTONIO, TX. 3 Niche users give it an average review of 4.7 stars. Featured Review: Master's Student says The accelerated business programs offer small cohort classes where all students have the chance to communicate with eachother. This style of teaching reminds me of a high school student schedule, the... Read 3 reviews.

Falls School of Business

• Anderson, IN ·
• Anderson University - Indiana ·

Anderson University - Indiana, Graduate School, ANDERSON, IN.

Capella University

• Minneapolis, MN ·
• · Rating 4.61 out of 5   1,099 reviews

Graduate School, MINNEAPOLIS, MN. 1099 Niche users give it an average review of 4.6 stars. Featured Review: Master's Student says The fields of adult ADHD and autism support are only now being realized as a distinct discipline from childhood/adolescent ADHD and autism, with adult clients presenting with significantly different... Read 1099 reviews.

University of Puerto Rico - Rio Piedras

• San Juan, PR ·
• · Rating 4.86 out of 5   28 reviews

Graduate School, SAN JUAN, PR. 28 Niche users give it an average review of 4.9 stars. Featured Review: Alum says The University provides a diverse and stimulating educational environment for students seeking to achieve their academic goals. Read 28 reviews.

Inter American University of Puerto Rico - Metro

• · Rating 4.6 out of 5   5 reviews

Graduate School, SAN JUAN, PR. 5 Niche users give it an average review of 4.6 stars. Featured Review: Doctoral Student says I am grateful that I have professors working hard every day to make the experience of online classes, less tedious and more active and entertaining. Therefore, it helps me go through classes more... Read 5 reviews.

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The 10 Best PhD Programs in Finance

In essence, finance is the study of economics and the claims on resources. The best PhD programs in finance help you develop professionally so you can make difficult decisions around fund allocation, financial planning, and corporate financial management. This qualification will also equip you for a career in teaching or research at top universities.

Which of the 10 best finance PhDs is best for you?

Read on to learn everything you need to know.

Table of Contents

Why Get a Doctorate in Finance?

According to the Bureau of Labor Statistics (BLS), finance managerial professionals have an average salary of $131,710  per year, and jobs are estimated to grow by 17%  from 2020 to 2030. This is much more than the average across all occupations. With a PhD in finance, you may work as a finance manager or even become a CEO of a large corporation.

Jobs and Salaries for Doctors of Finance

After earning a PhD in finance, you can find well-paid jobs as a professor or in various corporate finance roles.

Here are some of the most common finance professions with the average annual salaries for each:

• Financial Manager ( $96,255 )
• Financial Analyst ( $63,295 )
• Finance Professor ( $73,776 )
• Chief Financial Officer ( $140,694 )
• Investment Analyst ( $67,730 )

Read More:   The Highest Paying PhD Programs

What’s the average cost of a phd program in finance.

The tuition for a PhD in finance can vary depending on the university, with public institutions generally being much more affordable than private ones.

Across all schools, the average tuition is around $30,000 per year.

However, on top of this, you need to factor in other expenses, which could add up to another $30,000 a year. Some top universities offer full funding, including tuition and a stipend for all students who are successfully admitted to the program.

Read Next: The Average Cost of a Master’s Degree in Finance

Top finance phd programs and schools, stanford university, graduate school of business.

PhD in Finance

Stanford University is one of the most prestigious business schools in the world. Its PhD in finance programs has an emphasis on theoretical modeling and empirical testing of financial and economic principles.

• Courses include: Financial markets, empirical asset pricing, macroeconomics, and financial markets.
• Duration: 5 years
• Tuition : Full funding
• Financial aid: Research & teaching assistantship, grants, outside employment, and outside support.
• Delivery: On-campus
• Acceptance rate: 5%
• Location: Stanford, California

The University of Pennsylvania, The Wharton School

The University of Pennsylvania’s renowned Wharton School of Business is home to faculty who are well-known in the field of business research. The school boasts a low student-faculty ratio in an atmosphere that allows you to work with faculty members as peers. This doctor of finance program emphasizes subjects like asset pricing, corporate finance, and portfolio management. This helps students become experts in research and teaching in these areas.

• Courses include: Topics in asset pricing, financial economics, and international finance.
• Credits: 18 courses
• Financial aid: Fellowships, grants, student employment, health insurance, stipend, and loans.
• Acceptance rate: 9%
• Location: Philadelphia, Pennsylvania

The University of Chicago, Booth School of Business

Booth School of Business is a major center for finance education because its faculty includes Eugene F. Fama, Nobel laureate and the father of modern empirical finance. This finance doctoral degree has an option for a joint PhD in collaboration with the university’s economics department.

• Courses: Financial economics, financial markets in the macroeconomy, and behavioral finance.
• Tuition : Refer tuition page
• Financial aid: Grants, stipends, health insurance, scholarships, fellowships, teaching assistantships, research assistantships, and loans.
• Acceptance rate: 7%
• Location: Chicago, Illinois

The University of Illinois at Urbana-Champaign, Gies College of Business

The University of Illinois at Urbana Champaign is one of the best places for studying and conducting research in finance. Its finance research faculty was ranked #4  in the UTD Top 100 Business School Research Rankings between 2016-2019. In this PhD in finance program, students can take the qualifying examination at the end of the first year and, if successful. They’ll be able to start their research project earlier and complete the degree sooner.

• Courses include: Empirical analysis in finance, corporate finance, and statistics & probability.
• Duration: 4-5 years
• Financial aid: Full tuition waiver, stipends, scholarships, grants, student employment, and loans.
• Acceptance rate: 63%
• Location: Champaign, Illinois

Massachusetts Institute of Technology, Sloan School of Management

The Sloan School is one of the top research centers in the world, which aims to transform students into experts who can handle real-world problems in a wide range of spheres, from business and healthcare to climate change. This PhD program in finance gives students the flexibility to choose between a wide range of electives and even study some courses at Harvard.

• Courses include: Current research in financial economics, statistics/applied econometrics, and corporate finance.
• Duration: 6 years
• Financial aid: Full tuition, stipend, teaching assistantships, research assistantships, health insurance, fellowships, scholarships, and loans.
• Location: Cambridge, Massachusetts

Northwestern University, Kellogg School of Management

The Kellogg School of Management allows students to conduct independent research under the supervision of faculty who’ve made significant contributions to the field and have earned numerous prestigious awards. This doctorate of finance program’s admission process has a dual application option. You can also apply to the Economics PhD simultaneously, so if you are not selected for the finance program, you may be considered for economics.

• Courses include: Econometrics, corporate finance, and asset pricing.
• Duration: 5.5 years
• Financial aid: Tuition scholarship, stipends, health insurance, moving allowance, and subsidies.
• Location: Evanston, Illinois

The University of California Berkeley, Haas School of Business

The Haas School of Business in Berkeley is an innovative institution that questions the status quo, takes intelligent risks, and accepts sensible failures in its path to progress. This finance PhD program offers students opportunities to learn about cutting-edge research from faculty from around the world.

• Courses include: Corporate finance theory, stochastic calculus, and applications of psychology & economics.
• Tuition : Refer cost page
• Financial aid: Fellowships, grants, tuition allowance, stipends, teaching assistantships, and research assistantships.
• Acceptance rate: 17%
• Location: Berkeley, California

The University of Texas at San Antonio, Alvarez College of Business

The Alvarez College of Business is one of the forty largest business schools in the USA. It follows a comprehensive and practical approach to education that allows students to apply the knowledge they gain directly in the workplace. This PhD in finance encourages students to do collaborative research with the faculty, which helps them publish their own academic papers before they even complete the program.

• Courses include: Corporate finance, international financial markets, and microeconomic theory.
• Credits: 84 (post-bachelors)
• Financial aid: Scholarships, grants, work-study, teaching assistantships, research assistantships, research fellowships, and loans.
• Acceptance rate: 84%
• Location: San Antonio, Texas

Liberty University, School of Business

Doctor of Business Administration (DBA) in Finance

Liberty University is a non-profit institution among the top five online schools in the USA and has been offering fixed tuition fees for the past seven years. This is one of the best PhD in Finance programs you can do completely online. It aims to prepare students to address issues in business finance through research, best practices, and relevant literature.

• Courses: Managerial Finance, Investments & Derivatives, Business Valuation, etc.
• Credits: 60
• Duration: 3 years average
• Tuition : $595 per credit
• Financial aid: Grants, scholarships, work-study, veteran benefits, and loans.
• Delivery: Online
• Acceptance rate: 50%
• Location: Lynchburg, Virginia

Northcentral University

PhD in Business Administration (PhD-BA) – Finance Management

Northcentral University was founded with the objective of offering flexible, fully-online programs to working professionals around the world. This doctorate degree in finance online is flexible and allows you to design your own schedule. You will also get one-on-one personal mentoring from qualified faculty.

• Courses include: Business financial systems, business statistics, and business leadership & strategy.
• Duration: 84 months average
• Tuition: $1,105 per credit
• Financial aid: Grants, scholarships, and military scholarships.
• Acceptance rate: NA
• Location: Scottsdale, Arizona

Things To Consider When Choosing a Finance PhD Program

The right PhD program for you is a very personal decision and will depend on several individual factors.

However, these general questions will help you to make the right choice:

• Is the university properly accredited?
• Does the university conduct innovative and cutting-edge research?
• Are there renowned faculty members who you’ll want to work with?
• Do they offer subjects or specializations that match your career goals?
• What is the school’s placement history?
• What are the tuition fees, costs, and options for scholarships and financial aid?
• Does the program offer online study options?

It’s also important to consider if you want to pursue a career in academia or work in organizations as a senior finance professional. A PhD degree will generally set you up for a career in research or academia, while a DBA is more suited to a career in business or government.

Preparing for a Finance Doctorate Program

It’s important to start preparing early if you want to be selected for one of the best finance PhD programs.

These handy tips can help you put your best foot forward:

• Research the requirements of the best universities offering PhD in finance degrees, including pre-requisite subjects and qualifying grades. Keep these in mind when completing your bachelor’s or master’s degree.
• Understand your strengths and weaknesses in relation to the program’s requirements. Work on your weaknesses and continue to hone relevant skills.
• Read extensively in the field and keep up-to-date on regional and global developments.
• Join communities of finance professionals to build your network and be exposed to the latest knowledge in the discipline.

Skills You Gain from Earning a PhD in Finance

The most important skills you learn as a doctor of finance include:

• Communication skills, including writing and presentation skills
• Data analytical skills
• Economics and accounting skills
• Critical thinking skills
• Mathematical skills
• Analytical software skills
• Management and leadership skills
• Problem-solving skills

PhD Programs in Finance FAQs

How long does a phd in finance take.

PhD programs in finance usually take between three and eight years to complete.

Is It Worth Getting a PhD in Finance?

A PhD in Finance is a qualification that’s in high demand today. It is a terminal degree and can help you get top-level jobs with lucrative salaries in corporate or large organizations.

How Much Can You Make With a PhD in Finance?

With a finance doctorate, you can expect to earn a salary anywhere from around $45,000 to $150,000, depending on your experience, role, and the organization you work for. According to the BLS, the average salary for finance PhD holders is $131,710 .

What Do You Need To Get a PhD in Finance?

The admissions requirements vary depending on the program, but you’ll typically need a bachelor’s or master’s degree in finance. The programs can take three to eight years of coursework and research.

To apply, you’ll usually need to submit:

• Application
• Academic resume
• Academic transcripts
• Recommendation letters
• GRE or GMAT score
• Personal essay

Final Thoughts

With a doctorate in finance, you can build a rewarding career in academia, research, or the business sector. Like any doctorate, these programs ask for dedication and hard work. By planning early, you’ll set yourself up to pursue one of the best PhD programs in finance.

For more on how to build your career in the field, take a look at our guides to the best master’s degree in finance , the highest paying PhDs , and fully-funded PhD programs .

Lisa Marlin

Lisa is a full-time writer specializing in career advice, further education, and personal development. She works from all over the world, and when not writing you'll find her hiking, practicing yoga, or enjoying a glass of Malbec.

• Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ 30+ Best Dorm Room Essentials for Guys in 2024
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See the 10 Best Finance MBA Programs

Check out the business schools that topped the U.S. News rankings of finance programs.

Explore the best schools for finance.

Having an MBA can help boost your salary, but having a specialized MBA in a field like finance can really improve your pay and job opportunities. While it might not be for everyone, the world of finance can put students on Wall Street, interacting with some of the most prestigious and high-paying banking and corporate finance firms. Here are the 10 Best Business Schools for Finance .

(Daryl Marshke | Michigan Photography)

10. University of Michigan—Ann Arbor (Ross)

Location: Ann Arbor, Michigan

Overall Best Business Schools rank: 13 (tie)

Acceptance rate (fall 2020): 37%

Key fact: This business school has multiple student-run investment funds and advertises itself as having more of them than any other MBA program. Student investors here have collective control over $10 million, according to the school website.

Learn more about the Stephen M. Ross School of Business .

(UCLA Anderson) |

9. University of California—Los Angeles (Anderson)

Location: Los Angeles

Overall Best Business Schools rank: 18 (tie)

Acceptance rate (fall 2020): 34.4%

Key fact: Four people on the faculty at this business school have been president of the American Finance Association. Academic discoveries at this B-school have helped banks set appropriate interest rates.

Learn more about the Anderson School of Management .

(Amelia Kunhardt | Harvard Business School)

8. Harvard University (MA)

Location: Cambridge, Massachusetts

Overall Best Business Schools rank: 5 (tie)

Acceptance rate (fall 2020): 9.2%

Key fact: Harvard offers its MBA students a variety of finance-related elective courses, including one that focuses on creating value through corporate restructuring and another that concentrates on financial management of smaller firms.

Learn more about Harvard Business School .

(David Schmitz | UC—Berkeley)

7. University of California—Berkeley (Haas)

Location: Berkeley, California

Overall Best Business Schools rank: 7 (tie)

Acceptance rate (fall 2020): 23.3%

Key fact: Berkeley's finance faculty includes experts on asset pricing, credit ratings, financial regulation, exchange rate dynamics and securities trading.

Learn more about the Haas School of Business .

(Stanford Graduate School of Business) |

6. Stanford University (CA)

Location: Stanford, California

Overall Best Business Schools rank: 1

Acceptance rate (fall 2020): 8.9%

Key fact: Stanford's finance faculty aim to publish finance-related scholarship relevant to academic researchers, policymakers and business professionals, its website states.

Learn more about the Stanford Graduate School of Business .

(MIT Sloan School of Management) |

5. Massachusetts Institute of Technology (Sloan)

Location : Cambridge, Massachusetts

Acceptance rate (fall 2020): Not provided

Key fact: MIT offers a finance track certificate program, and MBA students who complete it receive a certificate alongside their MBA degree.

Learn more about the Sloan School of Management .

(Columbia Business School) |

4. Columbia University (NY)

Location: New York City

Acceptance rate (fall 2020): 13.6%

Key fact: Columbia MBA students interested in a particular niche within finance – such as risk management or sales, trading and research – can take a series of classes coordinated with that goal in mind.

Learn more about Columbia Business School .

(Adam Pantozzi) |

3. New York University (Stern)

Overall Best Business Schools rank : 10 (tie)

Acceptance rate (fall 2020): 29%

Key fact: NYU offers an MBA specialization in finance, and the school provides finance classes on topics ranging from valuation to volatility.

Learn more about the Leonard N. Stern School of Business .

(Matthew Gilson | University of Chicago Booth School of Business)

2. University of Chicago (Booth)

Location: Chicago

Overall Best Business Schools rank: 3

Acceptance rate (fall 2020): 27.6%

Key fact: Distinguished service professor Eugene F. Fama is often called the "father of modern finance" and is a 2013 Nobel Prize laureate in economic sciences.

Learn more about the Booth School of Business .

(Pascal Perich) |

1. University of Pennsylvania (Wharton)

Location: Philadelphia

Overall Best Business Schools rank: 2

Key fact : Wharton's finance MBA graduates land jobs in finance departments within nonfinance companies and also find work as investment bankers , asset managers and management consultants.

Learn more about the Wharton School .

(Getty Images) |

Learn more about the Best Business Schools.

Get advice on applying to business school , and check out all of the 2022 Best Graduate Schools rankings. You can also sign up for a free U.S. News account to receive content like this via email and stay up to date on education news by following U.S. News Education on Facebook ,  Twitter  and LinkedIn .

(David Schmitz) |

Highest-ranked finance MBA programs

• University of Pennsylvania (Wharton)
• University of Chicago (Booth)
• New York University (Stern)
• Columbia University
• Massachusetts Institute of Technology (Sloan)
• Stanford University
• University of California—Berkeley (Haas)
• Harvard University
• University of California—Los Angeles (Anderson)
• University of Michigan—Ann Arbor (Ross)

More From U.S. News

Check Out the Top 40 Business Schools

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PhD | Finance

The Ph.D. in Finance

Stern’s Ph.D. program in finance trains scholars to conduct research at the leading edge of financial economics. The faculty represents one of the largest finance research groups in the world that has been ranked consistently as the leading publisher of academic research in top finance journals. Comprised of more than 40 researchers, including a Nobel-prize-winning economist, our faculty are active in all areas of finance—asset pricing, corporate finance, derivatives, market microstructure, and behavioral finance—with both theoretical and empirical focus, and with emerging specialization in the areas of financial intermediation, crises, and macro-finance. As a result of this unusual breadth, students have access to expertise in almost any topic that they might wish to explore.

Explore Finance

Discover our other fields of study.