Overview

The Finance at the University of Pennsylvania prepares students for careers in research and teaching at the world’s leading academic institutions, focusing on Asset Pricing and Portfolio Management, Corporate Finance, International Finance, Financial Institutions and Macroeconomics.

Wharton’s Finance faculty, widely recognized as the finest in the world, has been at the forefront of several areas of research. For example, members of the faculty have led modern innovations in theories of portfolio choice and savings behavior, which have significantly impacted the asset pricing techniques used by researchers, practitioners, and policymakers.

Features

Faculty research, both empirical and theoretical, includes such areas as:

Structure of financial markets

Formation and behavior of financial asset prices

Banking and monetary systems

Corporate control and capital structure

Saving and capital formation

International financial markets

Programme Structure

Courses include:

Financial Economics

Corporate Finance & Financial Institutions

Empirical Methods

Intertemporal Macroeconomics and Finance

Methods in Finance Theory

Continuous – Time Financial Economics

Financial Economics under Imperfect Information

Key information

Duration

Full-time
- 60 months

Start dates & application deadlines

Starting 2027-08-31 00:00:00
- Apply before 2026-12-15 00:00:00

Language

English

TOEFL^® IBT

100

Schedule TOEFL®

IELTS

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4.9/5 student rating

Credits

18 SCH

Delivered

On Campus

Campus Location

Philadelphia, United States

Disciplines

Finance View 57 other PhDs in Finance in United States

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Academic requirements

GRE^®

Required

GMAT

Required

English requirements

TOEFL^® IBT

100

Schedule TOEFL®

IELTS

Prepare for Your English Test

Cathoven AI IELTS Preparation

Learn your IELTS Score

AI-powered IELTS feedback. Clear, actionable, and tailored to boost your writing & speaking score. No credit card or upfront payment required.

Trusted by 300k learners
98 accuracy using real exam data
4.9/5 student rating

Other requirements

General requirements

Letters of Recommendation

Transcripts & Academic History

Essays

Standardized Test Scores

Application Fee

Tuition Fees

Tuition fees are shown in and the most likely applicable fee is shown based on your nationality.

International Applies to you

Applies to you

Non-residents

44792 USD / year

≈ 44792 USD / year
Out-of-State

44792 USD / year

≈ 44792 USD / year
Domestic

Applies to you

In-State

44792 USD / year

≈ 44792 USD / year

Additional Details

Most of our PhD programs are fully funded, meaning the program will pay for your tuition and fees, as well as provide you with a minimum stipend of $39,425.

Living costs

Philadelphia

United States

1313 - 2284 USD / month

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

All admitted Wharton doctoral students receive a fellowship that covers the cost of tuition and health insurance, and provides a stipend. It is expected that a similar level of financial aid may be awarded for up to 5 years. All financial aid awards are contingent upon a student's satisfactory academic progress.

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Scholarships Information

Below you will find PhD's scholarship opportunities for Finance.

Available Scholarships

You are eligible to apply for these scholarships but a selection process will still be applied by the provider.

About

Overview

Features

Programme Structure

Key information

Duration

Start dates & application deadlines

Language

Prepare for Your English Test

Credits

Delivered

Campus Location

Disciplines

What students do after studying

Academic requirements

English requirements

Prepare for Your English Test

Other requirements

General requirements

Tuition Fees

International Applies to you

Domestic

Additional Details

Living costs

Philadelphia

Funding

Scholarships Information

Available Scholarships

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