Key information
- Duration: Full-time, 48 months
- Start dates & application deadlines: Starting August 2027. Apply before Jan 2027.
English Language Requirements
TOEFL iBT: 92. TOEFL iBT is accepted by more than 13,000 universities and other institutions in over 160 countries. The test can be taken at a test center or at home. The test measures your English-language abilities in an academic setting. The score refers to the total score of 4 subjects (writing, listening, speaking, and reading), each subject has a range of 0 - 30.
PTE Academic: 62. PTE Academic (Pearson Test of English) is a language test that enables students to demonstrate their writing, listening, speaking, and reading skills when applying to study in English. The score refers to a total score which ranges between 10 and 90.
IELTS: 6.5. The International English Language Test System (IELTS) tests your English-language proficiency on a scale of 1 – 9. The score refers to the combined average score of 4 subjects (writing, listening, speaking, and reading).
Overview
The Finance programme at Hanken School of Economics provides you with tools to quantitatively analyse the most challenging research questions.
The PhD programme is affiliated with the Graduate School of Finance, and students take their core finance courses together with students from other GSF schools. Normally, students graduate with a PhD after 4-5 years of full time studies.
The programme is offered in both Helsinki and Vaasa.
Financial support for studies is provided, subject to satisfactory performance, and no tuition is charged.
Seminars and workshops
The seminar series provide an opportunity for our students to acquaint themselves with the latest research at the top level, and also with high caliber researchers. The PhD students are also encouraged and financially supported to participate and present their work in international conferences.
Programme Structure
The coursework includes:
- Courses in finance, statistics and econometrics, and economics, taken at Hanken.
- The required coursework (60 studypoints) takes approximately one year to complete, after which, the students write a doctoral dissertation.
- Together with Aalto University and GSF, the department offers a weekly seminar series with high level international speakers.
Admission Requirements
Academic requirements
GPA: B
GRE: 158 (quantitative)
GMAT: 600
Applicants applying with a qualifying degree obtained in an EU/EEA country, need to fulfill the following requirements:
- The GPA in the qualifying degree needs to be at least a Grade B (US grading scale), GOOD or equivalent or higher. You can check if your GPA meets the requirements by using the WES World Education Systems online grading scale conversion tool. If there is not an conversion table for your country, Hanken will convert your GPA on a case to case basis.
The specific minimum GPA requirement is:
- 70-79 (the scale used by Hanken 50-100)
- 3 (Finnish scale of 1-5)
- Grade B (American scale)
English requirements
TOEFL iBT: 92
PTE Academic: 62
IELTS: 6.5
Other requirements
General requirements
- A research-based Master's degree with good grades from a recognised university constitutes the basis for admission to doctoral studies. The Master's degree has to include a comprehensive research based thesis.
- In order to be admitted as a PhD student the student must have sufficient and relevant previous studies in the field or major to which they apply to.
- Requires that the applicant has taken enough courses in Asset Pricing and Corporate Finance and has at least 5 credits in Econometrics. The applicant's Master's thesis should have received a minimum evaluation of "good" (on the scale excellent, very good, good, satisfactory, fair) or equivalent or be of corresponding standard in cases where grades are not given.
- Admission to doctoral studies in Finance with specialisation in Statistics requires that the applicant has taken a sufficient amount of courses in Asset Pricing, Corporate Finance, Econometrics, Statistics, Probability and Mathematics.
Fees and Funding
Tuition Fees
International: Free
EU/EEA: Free
Living costs
Vaasa, Finland: 1,108-1,613 AUD / month
The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.
Funding
Hanken offers funding for doctoral students who study full time. Hanken also offers help in applying for funding.
There are three main potential funding options:
- External grant funding from one of the foundations supporting research in the areas relevant to Hanken PhD students, for example the Foundation for Economic Education.
- Employment in an externally funded project; this alternative is particularly relevant for late-stage doctoral students;
- Scholarships from the Funds at Hanken can be applied for if/when these are announced. The scholarships are subject to availability.
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