The VGSF is a center of excellence in finance, located in Vienna, Austria. Its main activities are academic research and PhD education. The VGSF offers a stimulating learning and research environment to outstanding students from around the world.
Leading scholars are regularly invited to teach courses and present their papers in the research seminar. We offer a stimulating learning and research environment and financial support to outstanding students from around the world. Our graduates can look forward to a rewarding career at leading academic institutions.
Studying at the VGSF consists of two parts: courses and research. A typical sequence of activities starts with doing most of the mandatory courses during the first year. First year students also do (extra-curricular) bridging courses as required. By the end of the second year all mandatory courses must be completed.
Students have to do six (mandatory) elective courses. Usually these are done during the second and third year. Students choose the electives depending on the focus of their research.
The PhD thesis must consist of three papers (one of which is the job market paper). Students should start working (i.e. searching for a topic, writing and presenting proposals) on their papers during the (second half of the) first year. Before and during the summer of the first year they work on their first paper. This paper is presented at the beginning of their second year at an internal conference where all faculty members and all students participate, discuss papers and give feedback.
VGSF graduates can look forward to a rewarding career at leading academic institutions. Former VGSF students have been placed at institutions like Aarhus University, Carnegie Mellon University, Georgia Institute of Technology, University of Hong Kong, Massachusetts Institute of Technology (MIT), the University of New South Wales(UNSW), the Norwegian School of Economics and Business Administration (NHH), Erasmus University Rotterdam, the University of Utah and the University of Wisconsin, USA.
The VGSF PhD program consists of two parts: rigorous coursework and work on the PhD thesis. The students attend courses covering all major topics in finance and analytical methods required for doing research. In particular, the courses focus on Corporate Finance, Asset Pricing and Quantitative Methods in Finance. In the past academic years students had the chance to attend courses taught by international scholars such as Tomas Björk, Rüdiger Fahlenbrach, Nicolae Garleanu, Francisco Gomes, Christopher Hennessy, David Lando, Jacob Sagi, Rossen Valkanov, Jiang Wang and Toni Whited. After passing the required exams, students start to conduct research projects on their own. In our weekly research seminar students have the opportunity to meet internationally renowned scholars presenting their state-of-the art research.
The curriculum consists of three years of course work. During the first two years the following mandatory courses must be passed:
In addition students have to pass at least six elective courses. Students can choose from a wide range of electives, depending on their area of specialization. Examples of usually offered elective courses are:
Recent elective courses have been taught by (amongst others) Christopher Hennessy from the London Business School ("Advanced Corporate Finance"), Nicolae Garleanu from the Haas School of Business, Berkeley ("Liquidity and Asset Pricing"), Rüdiger Fahlenbrach from École Polytechnique Fédérale de Lausanne ("Empirical Corporate Finance"), David Lando from the Copenhagen Business School ("Credit Risk Management"), Rossen Valkanov from the University of California San Diego ("Financial Econometrics and Empirical Portfolio Choice"), Gordon Phillips from the University of Maryland ("Interaction of Finance and Industrial Organization"), Jacob Sagi from Vanderbilt University ("Advanced Asset Pricing"), and Jiang Wang from the MIT ("Advanced Asset Pricing").
The following requirements have to be met in order to be admitted to the PhD Program in Finance:
Admission process is over. Rolling admission for the academic year 2014/15 will start in the fall of 2013. Only applications submitted within this period can be accepted. Please note that only complete applications with all the required documents can be considered.
Complete applications which meet all formal admission requirements will be evaluated by the admission committee. Based on this evaluation the best applicants will be selected and will be invited for an interview. Interviews will take place around the end of February or early March. Applicants will be given sufficient advance notice by e-mail about date, time and location of the interview.
Based on all available evidence the admission committee will determine a final ranking of applications. The applicants at the top of the ranking list will be given an admission offer, in terms of a written notice of the applicants acceptance into the program. To claim his/her place in the program, the applicant must confirm the admission offer in writing within 10 days of receipt.
If the applicant accepts the admission offer she/he will receive the admission confirmation. The admission confirmation has to be presented at the time of enrollment together with the required original documents.
Online application (overview):
All information provided in the online application must be correct and complete. In case you need to make any important subsequent corrections please contact office(@)vgsf(.)ac(.)at.
Do not submit more than one application. If we receive two or more applications from the same person, we will not consider any of them.
All correspondence will be made via e-mail using the e-mail address you have specified for the login to the online application tool. Please check your e-mails regularly and keep your mailbox ready to receive.
Applicants who will finish their Master studies after the deadline but before June 2013 are welcome to apply as well.
In the online application form you have to provide the following information:
|CAE score:||67(Grade A)|
|TOEFL paper-based test score:||600|
|TOEFL computer-based test score:||250|
|TOEFL internet-based test score:||100|
The Vienna Graduate School of Finance (VGSF) invites excellent students to apply for the PhD Program in Finance (full-time program) starting in the coming academic year. Up to six scholarships will be offered to the best applicants.
You are normally required to take an English Proficiency Test if you come from a non-English speaking country.
Most European Universities recognise the IELTS test.More information on IELTS
Using the form on this page, you can directly ask questions to the contactpersons at the university.
Fill out your contact information and message. The information you fill out in this form will be sent directly to the university. They will reply to you on the e-mail address you provide here.
phdportal.eu cannot take any responsibility for the answering of contacts or for the content of their replies.