Finance (PhD) at Northwestern University

Programme overview

Our PhD in Finance aims to produce scholars who develop rigorous and creative research in finance and economics. The Finance doctoral program provides you with rigorous training in finance, economics, mathematics and statistics.

Faculty: Kellogg School of Management | Study mode: full-time | Location: Evanston, IL, United States

What you will study

You are exposed to a variety of research methods in your coursework, and interact closely with faculty as you develop your own research projects. In years one and two, you take three or four courses each quarter (fall, winter, spring).

Career pathways

These tools, plus opportunities for supervised independent research, enable you to make your own contributions to the understanding of financial markets and institutions that lead to productive research careers. Several faculty serve/served in editorial positions at leading journals, such as the Journal of Finance, Journal of Monetary Economics, and Econometrica , and as directors of the American Finance Association and past-presidents of the Western Finance Association.

Official programme page

Application information

Entry requirements

Students must maintain a minimum 3.0 grade point average (GPA). This competence is satisfied by achieving a 3.0 grade point average (GPA) across the nine required courses in the sequence. During the summer following your second year of study, you must pass a comprehensive qualifying exam designed to measure competence in both asset pricing and corporate finance or you must demonstrate competence by maintaining a 3.6 GPA average across both course sequences.

Tuition is charged per credit, so the total depends on the modules you register for each year. Current fees are listed in the official fee schedule.

Graduate applications for 2026-27 open September 15, 2026; deadlines vary by programme. The Graduate School application fee is $95 and nonrefundable, paid by credit or debit card.

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