PhD in Finance
Join EDHEC’s PhD in Finance programme to develop your expertise and work with researchers specialising in your company’s core concerns, all without interrupting your career.
(non-french)
Part-Time
(40 days on campus over 3 years)
English
(15 years of experience on average)
Motivation for rigorous academic research
Fluent in English
Spring deadline: end May
Overview
Since 2008, the PhD in Finance at EDHEC Business School has been preparing experienced finance professionals to tackle the most complex challenges facing the industry.
A part-time PhD format that preserves your career, faculty drawn from the world's leading institutions, and a cohort of senior professionals from across the globe. Participants emerge as autonomous researchers, generating original insights that bridge academic thinking and professional practice, without stepping away from their careers.
The programme offers two tracks: an Executive Track for senior finance professionals (average 15 years of experience) who continue working throughout, and a Residential Track for early-career researchers seeking a full-time academic path in finance.
This is not a programme you fit around your life.
It is a programme built around it.
Our PhD in Finance participants come with decades of experience and leave with something rarer : the ability to question what they thought they knew, and the rigour to build something genuinely new from it. That combination, of seniority and intellectual humility, is what makes the work here so compelling.
Mirco Rubin
Director, PhD in Finance
Alumni Testimonials
Completing a PhD while holding a senior position takes discipline, tenacity, and determination. Those who do it have a story worth hearing.
Discover how EDHEC Executive PhD graduates have transformed their professional and intellectual trajectories, and what it truly means to conduct research at the highest level without stepping away from a demanding career.
If you've done well in your career but feel you need to develop further insights and rigour behind putting theory into practice, I think this programme is for you.
Aravind Srinivasan
PhD in Finance Graduate, Head Systematic OTC Trading GSR
I think I have become more curious and questioning about what is written, published etc. The research part also prepares you to perform better when uncertain and to embrace that uncertainty when a new project comes in or decisions have to be made.
Anmol Sethy
Multi-Asset Market Strategist, Avanda Investment Management Pte Ldt, Singapore
The class comprises an incredible pool of talented and experienced people. Some of my peers are already at the top of their field and many others have the shine of future leaders. The diversity in the classroom is also astounding: here is a group of men and women from all continents, with academic backgrounds ranging from math and physics to political science, and a wealth of professional experiences...
Gideon Ozik
Head of Hedge Fund Solutions, SGAM AI ‒ Israel
The experience has been very positive. I have had the opportunity to make a host of new contacts from a diverse range of backgrounds, experiences, cultures and industries. The quality, experience and reputation of the permanent and visiting staff are big plus points.
Matt Lanfear
Restructuring and Turnaround Advisor ‒ UK
So far, among other things, the programme has impacted my overall understanding of finance in general, as I am confronted with new and interesting questions and a vast body of literature that broadens perspectives on a variety of issues.
Juan Carlos Quintero
Chief Officer, Investments and other Assets at FOGAFÍN, Colombia
Academic excellence and professional experience are often seen as opposites. In this PhD in Finance, they are the foundation. Our participants bring years of professional experience, and through rigorous research training and close faculty guidance, they transform that experience into work that is both intellectually demanding and deeply relevant.
Nikolaos Tessaromatis
Academic Director, PhD in Finance
Application, Fees & Funding
Successful PhD applicants come from a diverse array of educational backgrounds and professional experience, but are set apart by their academic and professional excellence, superior analytical and interpersonal skills, international awareness and proven ability to complete the programme.
- a completed application form and signed statement of integrity
- a letter of intent
- two forms/letters of recommendation
- transcripts of undergraduate and graduate programmes
- copies of diplomas/degrees
- GMAT or GRE scores
- proof of English proficiency (test scores)
- evidence of research capability in the form of a writing sample (your master’s thesis or a scholarly publication) or a well-developed proposal (up to 2,000 words) for a doctoral thesis
- your curriculum vitae/resumé
- a copy of your passport/birth certificate
- a recent passport photograph (digital format accepted)
- application fee form, with proof of payment order or credit-card receipt*
Tuition fees for PhD candidates joining in September 2026 are €36,400 per academic year: €36,400 for the 2026-2027, €36,400 for the 2027-2028, and €36,400 for the 2028-2029. Fees do not include travel and accommodation expenses.
Residential track participants will work as teaching or research assistants in Nice (France). In return for their part-time duties, they will receive a full tuition-fee waiver plus competitive compensation. Up to two such positions are offered to PhD in Finance candidates each year and these positions are filled as early as possible.
Graduate students can apply for federal and private loans. EDHEC is an approved international school and a participant in federal student loan programmes of FAFSA. Students may be eligible for some private graduate student loans such as Sallie Mae for instance.
Theses
Each dissertation reflects years of professional expertise transformed into original, publishable research.
From climate finance and ESG investing to machine learning, fixed income strategies and private debt, the breadth of topics covered illustrates both the intellectual ambition of our candidates and the practical relevance of their work. Every thesis addresses a real organisational or market challenge, bridging academic rigour and professional insight.
FAQ
Some of the questions we are most frequently asked about the Executive PhD and the doctoral degree.
You can also contact us by phone or email.
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Can I have more information about the selection process?
Applicants being considered for admission to the PhD programme will be interviewed.
Applicants being considered for admission to the residential track of the PhD programme will be also interviewed for a part-time teaching assistant position.
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Can I submit my application by email?
We encourage you to submit an electronic version of your application to expedite processing. Referees can also send their letters of recommendation by email.
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Do you have an online application system?
EDHEC does not offer an online application option for the PhD in Finance programme. If you are interested in the PhD in Finance programme, please download the appropriate application form here (executive track, residential track) and return it by email to our Admission Service.
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Do you require an english proficiency test?
The EDHEC PhD in Finance is conducted entirely through English. The programme, therefore, requires a very good command of both oral and written English.
English proficiency test scores are part of the application package for non-native speakers. We accept TOEFL, TOEIC, IELTS and UCLES.
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What is the english proficiency test waiver policy?
If you are a native English speaker, you will not be required to take an English proficiency test. If you are a non-native speaker, you may solicit an exemption on the basis of either (i) recent University-level experience at an institution where the curriculum was taught exclusively in English, or (ii) top verbal and analytical writing scores at scholastic potential tests (GMAT/GRE), or (iii) significant work experience in English speaking environments.
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Do you require GMAT or GRE test scores?
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I have not yet sat the GMAT/GRE test. Can I apply for the PhD and sit the GMAT/GRE afterwards?
A candidate may ask the Admissions Committee to review their application prior to receiving their GMAT/GRE scores, provided their application is filed before the first application deadline. The Committee may set candidates a minimum GMAT score as a condition of admission into the programme. GMAT score reports must be received prior to the third application deadline (end May).
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I am a CFA charterholder. Do I need to take the GMAT or GRE test?
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When are my tuition fees due?
A non-refundable deposit of €5,000 is required prior to the start of the programme to hold your place and for access to the requisite materials. The balance of the tuition fees is payable in two instalments at the end of August and the beginning of January.
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Do you offer financial aid to PhD candidates?
EDHEC Business School offers a number of awards, bursaries and scholarships to help alleviate high student travel costs, assist self-funded students in meeting funding challenges reward EDHEC partners that sponsor their executives for the PhD in Finance programme and encourage alumni of its degree programmes who wish to pursue a doctoral qualification at their alma mater.
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When do I apply for a scholarship or bursary programme?
Scholarship or bursary awards are considered for all PhD applicants and students. Applications can be sent when applying for admission or after admission.
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Can I apply for a PhD programme without a master's degree?
Although rare, it is possible to apply and be admitted to our PhD in Finance programme without a master’s degree. Professional experience and advanced professional qualifications, such as the CFA Charter, would have a positive weighting on our response, along with a solid undergraduate degree and an excellent GMAT score.
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Can I do a PhD after my MBA?
You can apply for a PhD after an MBA. Because of its strong quantitative orientation, our PhD programme requires a significant academic background in economics, finance, mathematics, econometrics and stochastic modelling (Master's level).
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Is research experience important for a PhD?
Research experience is not compulsory. Providing published research papers, working in the R&D division of a company (industry research) or acting as an academic research assistant would bolster your application.
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Is there is an age limit for a PhD?
There is no age limit on or minimum age for joining our programme. Most of our current participants are experienced practitioners (with an average age of 40 on admission), but we also accept younger candidates with a suitable background to support their application.
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How much professional experience is required?
Because of the nature of the programme, participants in the executive track have, on average, 15 years of professional experience on admission. We have a sizeable minority of students with 5-7 years of professional experience on matriculation.
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Is work experience in the financial sector a prerequesite?
Work experience in finance is not a prerequisite. A candidate’s fit is based on their goals and motivation, their ability – in particular their academic ability – to complete the programme, and what they can bring to the classroom. Applicants should make clear in their letter of application why they believe the programme is suitable for them and what they can bring to class activities.
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Do you accept those in junior roles onto your executive track?
The Admissions Committee has admitted people in more junior roles in the past, but their lack of experience has generally been counterbalanced by an exceptionally strong academic track record. Such applicants are rare, but typically have a history of very high achievement to underpin their application.
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What makes a successful applicant?
The fit between candidate and programme is judged based on the candidate’s goals and motivation and their ability to complete the programme (strong skills in quantitative methods as part of past studies or as a practitioner). The candidate’s ability to write and conduct research will also be given significant consideration.
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How long is your PhD programme?
The EDHEC PhD in Finance is three years in duration.
In the event that candidates cannot manage to complete the programme within three years, they can do so within a further two years.
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What type of degree is awarded for this PhD programme?
EDHEC Business School has designed its PhD programme according to international academic standards and awards a PhD in Finance degree which is covered by its AACSB and Equis accreditations. The PhD in Finance at EDHEC is an institutional degree.
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How does an Executive PhD in Finance impact my career?
The Executive PhD is not a credential, it is a transformation. Graduates report three main outcomes: moving into senior advisory or board-level roles, transitioning into academic or research positions at leading institutions, and gaining significant credibility when leading complex analytical or strategic projects within their organisation. Because the programme runs alongside your career, many participants report tangible professional benefits before they even graduate, through their research, their network, and the intellectual frameworks they develop along the way.
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Can I complete an Executive PhD in Finance while working full-time?
Yes, the programme has been designed for executives who are holding down full-time jobs. The residential requirement of the programme is limited to around 40 days in London or Nice and can be completed in eight weeks over three years. Core courses are structured into weekly blocks. Elective seminars are offered over three consecutive days in six-day blocks to give participants flexibility of scheduling and to facilitate the management of work, studies and personal life.
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What is an Executive PhD in Finance and how does it work?
The Doctor of Philosophy (PhD) is a globally recognised academic degree. EDHEC Business School has designed its doctoral programme in line with international academic standards and awards a PhD in Finance degree, backed by its AACSB and Equis accreditations. The PhD programme is tailored to executive needs, but offers all the academic rigour of a traditional PhD. It is aimed at researchers who want a qualification that is relevant to the organisation for which they work.
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How does the EDHEC PhD in Finance differ from other PhD programmes?
The PhD focuses on transferring research skills to practitioners. While this is a general finance programme, it has an asset pricing/portfolio management bias. It provides access to the latest advances in academic research in various fields of finance. Our faculty have been selected for their academic excellence, openness to industry and teaching skills, blending top EDHEC Business School scholars and affiliate faculty from the world’s best research institutions.
This is a three-year programme with limited residency requirements (about eight weeks in total), requiring 20/25 hours of weekly effort per week.
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Why pursue an Executive PhD in Finance as a senior professional?
Earning a doctoral degree mid-career is not about starting over. It is about going deeper. It sharpens your analytical thinking, gives you tools to reshape practices within your organisation, and opens doors that experience alone cannot. Graduates report moving into senior advisory or board-level roles, gaining credibility on complex strategic projects, and building an international network of researchers and practitioners. Many report tangible professional benefits before they even graduate.
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Can I switch to an academic career after a PhD degree?
Our PhD graduates usually want to stay in the financial industry after graduation. However, their doctoral degree qualifies them to undertake research too. They may teach as guest lecturers or adjunct faculty, on occasion, or publish in practitioner or academic journals. A few apply for positions as full-time professors after graduating and join renowned institutions.
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