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PhD (Finance) Programme

The PhD (Finance) programme at Durham offers a rigorous research training program and provides you with the opportunity to become an expert in your chosen field in finance.

Our experts in the Finance Department work on exceptionally diverse areas of finance, and publish in top journals such as the Journal of Finance, Review of Financial Studies, Journal of Economics, Journal of Econometrics, and Journal of Accounting and Economics. We therefore offer you the opportunity to pursue your PhD research on a variety of finance topics, including (but are not limited to) asset pricing, banking, corporate finance and governance, green finance, household finance, Islamic finance, financial econometrics, financial technologies and financial engineering, and market microstructure.

You will spend three years of supervised research (full-time), followed by one additional writing-up year, if needed. You will receive close guidance and mentorship from a team of supervisors who are experts in their field. You will be an integral part of the Department’s research activities, including attending our weekly departmental seminars that attract internationally renowned speakers. We also encourage and support you to present your PhD research at national and international conferences, and submit for journal publications.

You will have access to significant computing and database facilities within the department to support your research, such as AuditAnalytics, Bloomberg, Capital IQ, CSMAR, Thomson Reuters, and Wharton Research Data Service (WRDS) which features, amongst others, access to Boardex, Compustat, CRSP.


Funding opportunities

We offer a range of scholarships for our PhD students. Please regularly check this website as details of new scholarship opportunities will be frequently updated throughout the academic year.


Durham Doctoral Teaching Fellowship (DDTF)

Apply for a fully funded PhD in Finance, Durham University

The Department of Finance at Durham University Business School is very pleased to offer a Durham Doctoral Teaching Fellowship (DDTF), we encourage applications from PhD candidates aspiring an academic career.

The purpose of the DDTF is to support the successful Fellow in producing a high-quality PhD thesis while at the same time acquiring teaching skills that will enhance the Fellow's career progression. In the teaching role, the DDTF will assist and support faculty staff to deliver teaching and support learning. The role aims to enhance the Fellow's own progression and achievements whilst providing stable and supported employment within the University.

The Fellow will work under the supervision of academic faculty in the Department of Finance and will be assigned to a teaching mentor (normally a single member of academic staff) who will provide oversight, supervision and support for all teaching-related activities. The teaching mentor will normally be distinct from the supervisor of the research project. Once fully implemented, new DDTFs will be offered mentorship from more experienced fellows and all DDTFs will belong to a DDTF community.

For more information, please contact out PhD co-ordinator at 

Eligibility  The fellowship is only available to PhD candidates who qualify as home fee paying students
Scholarship value

Support for Studies (fee support)
The DDTF covers the cost of Home (UK) fees for 42 months over the duration of the programme (£4,500 p/a full time at 2021/22 rates).

The DDTF will pay a stipend at UKRI rates for 42 months over the duration of the programme (£15,609 p/a full time at 2021/22 rates).

Employment Benefits
DDTFs will be employed on a Grade 6 salary for the fellowship element of the programme.
As an employee they will be eligible for all normal staff benefits, including pensions, paid holidays and many other benefits. Further details here:

The DDTF will be entitled to a total of 42 months of stipend and 12 months of salary during the duration of the fellowship. How this time is divided will depend on the structure of the DDTF agreed with the academic department.

Application process

In order to apply for this scholarship, the candidate must hold an offer to study a PhD in the Department of Finance, Durham University. The PhD in Finance at Durham offers a rigorous research training programme and provides you with the opportunity to become an expert in your chosen field. Further details about our programme and how to apply can be found here: Application process - Department of Finance, Durham University Business School 

At the point of submitting your PhD application candidates should indicate that they are applying for funding via a DDTF.

Application deadline The deadline for applications will be 31st January 2024, all applications will be considered after this date.


The Economic and Social Research Council (ESRC) NINE DTP studentships.

The ESRC offers a range of studentships available for a 3-year PhD, or a Masters by Research and PhD (1+3 year), or a 3.5-year PhD plus research training.


Available for both home and international students

Scholarship value

Covers home or international fees, and a generous annual stipend of £18,622.

Application process

Please check the following guidelines on the application process. For more information, please check this recorded webinar.

Application deadline

16:00, 22 January 2024. You are encouraged to submit  your application well before this deadline.


Durham-Chinese Scholarships Council (CSC) studentships.

The scholarships are open to applicants from Mainland China wishing to study for a PhD at Durham. There are 20 awards available in all disciplines.


The applicant must be a citizen and permanent resident of the People's Republic of China at the time of application

Scholarship value

Provides full payment of tuition fees, annual stipend, return airfare, and medical expenses. 

Application process

Applicant needs to hold an unconditional offer to study for a PhD degree at Durham commencing in October 2024, including English language requirements at the time of submitting scholarship application to the CSC. Please check the following guidelines on the application process.

Application deadline

The deadline to submit your PhD application to Durham is 23:59 15 January 2024 and the deadline to submit scholarship application to CSC is tentatively April 2024.


For further information contact us via email at