Key information

Start date
October 2021
4 years
Application deadline
30th April 2021

About the PhD in Finance programme

The Bayes Finance Faculty is one of the largest in the world. On the PhD in Finance programme, you have the opportunity to join a thriving and international faculty.


It comprises over 50 full-time faculty conducting state-of-the-art research in all key areas of finance and it is located within the City of London, the world's most prominent financial centre. No other PhD programme in Finance gives you such access to the City of London.

The unique and direct access to leading figures from the real world of finance enables us to blend the latest theory and thinking with the latest real-world experience and developments within the PhD in Finance.

Research Areas

Our research covers all the core areas of finance – asset pricing, corporate finance and financial markets.

It also reflects our strengths in:

  • Accounting
  • Banking and international finance
  • Mathematical finance and financial econometrics
  • Real estate
  • Shipping finance.

As such, our Finance PhD students carry out research in a wide variety of areas but the faculty fosters a collaborative and engaging approach to research and you will meet many inspiring academics and experts.

We encourage you to learn more about the programme’s faculty or previous students’ successes by visiting the links below.

We take pride in producing research of the highest academic standard, and our research is published routinely in the top finance journals.

Programme structure

The Finance PhD is usually a four year programme. You are registered on the MPhil degree for the first two years during which you will follow a programme of taught courses and prepare your first research paper.

Year 1 - Theory and Methods

In the first year you will attend a comprehensive set of courses designed to train you in the theory and methods necessary to conduct high quality finance research. These courses are academically rigorous and you will be examined in each of them. Upon successful completion of all first year courses you will progress to year two.

First term:


  • Introduction to Statistics
  • Financial Econometrics
  • Corporate Finance Theory
  • Topics in Finance

Second term:


  • Asset Pricing
  • Empirical Corporate Finance
  • Topics in Banking

Third term:

  • Research Project
  • Faculty workshop & seminars

Year 2 - Research and Teaching Skills

Your research training continues in this second year with workshops focused on developing specific skills such as academic writing, advanced level reading groups where we delve deeply into key current research papers, and courses introducing you to the practice of learning, teaching and assessment.

Alongside this, you will commence research in your chosen topics and the year culminates with the defense of your first research paper before a transfer panel committee. After the successful defense of your transfer panel paper you will move onto the final two years of the PhD programme.

First term:


  • Literature reviews
  • Reading groups
  • Learning, teaching and assessment

Second term:


  • Academic writing
  • Reading groups
  • Advanced seminars

Third term:

  • Faculty workshop & seminars

Year 3 - Professional and Career Skills

You complete your remaining research papers in years three and four, and will defend your work in the viva voce exam soon after completion of your thesis. Training continues in the final two years but the focus shifts towards preparing you for an academic career.

You will attend workshops designed to help you to publish your work and to introduce you to the academic job market.

First term:


  • Reviewing and publishing
  • Advanced seminars

Second term:


  • The job market
  • Advanced seminars

Third term:

  • Faculty workshop & seminars

Year 4

In the final year we devote a lot of time to both viva and job market preparation with the aim of you successfully defending your thesis and taking up academic positions in leading business schools or universities, or research jobs in policy institutions.

First term:

  • Career talks

Second term:

  • Job market preparation

Third term:

  • Viva preparation

Fees and Funding

UK (Home) Students

  • Full-time: £4,690 per year

Non UK/EU (Overseas) Students