PhD

Although a master degree is preferable, it is not required. Undergraduates with strong academic records can also apply for the Ph.D program.

The Department of Finance currently does not have an active M.Phil program. Those who want to pursue a Ph.D degree in finance should apply for the Ph.D program.

Applicants for admission to the Ph.D program must possess a good first degree from a recognized university or an approved institution. An applicant’s undergraduate background is not a precondition for admission. We encourage students outside business majors, such as science, engineering, arts and other areas to apply.

Most of our Ph.D graduates find academic positions at other universities. Opportunities are also available at financial firms and government regulatory institutions.

At this time, we do not offer a part-time PhD program.

If you are not interested in research, we believe the Ph.D program is not ideal for you. You should consider the Master of Science programs, which are part-time programs offered by the department. You could also consider the full-time/part-time MBA program offered by the School of Business and Management.

Postgraduate awards in the form of studentships are allocated to qualified full-time PhD students of the University to provide them with financial assistance during the course of their study. Awards are based on academic merit and the suitability of the applicant for the proposed program of study, as is the selection of applicants for admission to postgraduate studies. You can indicate your preference for financial assistance in the application form. There is not a separate form on applying for financial assistance.

Either GRE or GMAT is acceptable. However, the admission committee may require an applicant to re-take GMAT if necessary. In the last five years, the average GMAT scores for admitted students was 700. The minimum was 640 and the maximum was 780. The GRE scores average at 2040 with a range of 1660-2310.

For applicants who attended educational institutions where the language of instructions was not English and whose first language is not English, a satisfactory score in the Test of English as a Foreign Language (TOEFL) within last two years is required. Please note that other test scores are NOT accepted because it is difficult to compare them.

In the last five years, the average TOEFL scores of admitted students have been around 630. The range was between 590 and 663.

You can send copies when you apply. Once you are admitted, you should provide official certificates.

When require ETS to mail the official TOEFL & GRE scores to HKUST, use the following codes: For GRE: 3834. For TOEFL: 0170.

Please refer to the Business School PhD program admission webpage. 

Please refer to the Business School PhD program admission webpage.

You are NOT expected to write a thesis proposal here. You should talk about what your career objective is and how a Ph.D degree in finance may help you achieve the goal.

The department has a committee that will discuss all the applications. Those who are shortlisted will receive an e-mail in late March or early April to arrange a time for telephone interview. First round admission offers will be made in late April. Depending on whether these offers are accepted, the admission procedure may continue to June. Please do NOT contact the department or any faculty member to inquire your status, unless you have important information. (For example, you have an offer from another university or you have a paper accepted by an international journal.) We will contact you.

Our Ph.D program is competitive. While GRE/TOEFL scores are important, you will have to compete with other applicants on other dimensions. The most important thing we look at is your readiness for doing research. We emphasize research ability. If you have working papers in good shape or publications in international journals already, you should include them in your application.

The department will consider first choice applications first. If spaces are available, second choice applications will also be considered.

The normal processing time for student’s applications or requests is 2 weeks, commencing the day after receiving all necessary documents. However, the actual processing will be depended on the circumstances of individual applications/requests, and the number of applications/requests received at a particular time. You are always advised to submit the applications/requests as early as possible.