PhD in Finance

Class Profile

Class Size

25

Average Age

27

Average Work Experience

2 Years

Diversity

Black or African American:

14%

Hispanic or Latino:

6%

Others:

3%

White:

64%

Asian:

11%

Two or more races:

2%

Career Outcomes

Median Earnings After Graduation

$1,10,000 / year

Graduation Rate

85%

Job Placement

95%

Top recruiters

Deloitte

JPMorgan Chase

Goldman Sachs

Bank of America

Morgan Stanley

McKinsey

Aetna

Dell

BAE Systems

Visa

AECOM

McGill University

Marsh McLennan

FAQs

• What is the curriculum like?
  
  Coursework covers finance, economics, econometrics, and related fields. Students interested in insurance or real estate can take specialized courses. The first stage leads to a master’s degree or equivalent credits, followed by advanced coursework, exams, and dissertation research. Students plan their courses and research in consultation with an advisor
• How many students are in the program, and what is the faculty-to-student ratio?
  
  The program maintains a small cohort, with total enrollment around 15 students, ensuring close collaboration and personalized mentorship from over 20 tenure-stream finance faculty
• What is the application timeline and process?
  
  The application period typically runs from October 1 to February 15 for fall admission. Applicants must submit transcripts, test scores, letters of recommendation, a statement of purpose, and pay a $90 application fee
• What are the prerequisites and recommended background for applicants?
  
  Applicants should have a strong background in mathematics (including multivariate calculus, probability, and statistics), and ideally some knowledge of linear algebra, ordinary differential equations, and basic programming. A background in economics, especially microeconomics, is desirable. An undergraduate degree in finance is not required
• What is the structure and duration of the program?
  
  The PhD is a full-time, on-campus program typically completed in five to seven years (60–84 months). The curriculum includes foundational coursework in financial economics, economics, and econometrics in the first two years, followed by qualifying and preliminary exams, and then dissertation research. Students also participate in weekly research seminars and present their own work
• What is the main focus of the PhD in Finance program at UIUC?
  
  The program prepares students for academic and research careers at leading institutions. It emphasizes rigorous research training aimed at publication in top finance and economics journals, as well as developing university-level teaching skills. Students benefit from small class sizes, close faculty mentorship, and a collaborative research environment