Vienna Graduate School of Finance: PhD Scholarships in Finance

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.

The VGSF is a center of excellence in finance, located at the new WU campus 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.

Art der Förderung

The financial support is about 2000 Euros gross per month. After deducting insurance, tax, etc. it is about 1300 Euros (14 salaries/year). This should be enough to cover the living costs in Vienna, such that you can concentrate on your studies.

Hinweise zur Bewerbung

The next application period opens November 1, 2022 (02:00pm CET) and ends January 22, 2023 (02:00pm CET).
Applicants to the VGSF program should be aware that there are two rounds of evaluations. The VGSF faculty first evaluates all complete applications received by December 5, 2022 and makes a first round of admission offers. Next, the VGSF faculty evaluates all complete applications received by January 22, 2023 (02:00pm CET) and makes a second and final round of admission offers.

Applicants must provide the following documents:

  • curriculum vitae
  • self-statement of purpose
  • all degree certificates
  • all official transcripts
  • proof of aptitude (GRE or GMAT)
  • proof of English competence (e.g. TOEFL, IELTS)
  • reference letters

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.

Please visit for more details and the link to the online application.


  • Successful completion of a Master's program or a relevant equivalent degree program at a recognized Austrian or foreign post-secondary institution of education (according to § 64 (4) of the Universities Act 2002)
  • Applicants who expect to finish their master's by the beginning of the PhD program (September) are also welcome to apply.
  • Proficiency in financial economics
  • Proficiency in mathematics and/or statistics
  • Adequate English proficiency
Art des Stipendiums
  • Forschungsprojekte
  • Studium im Ausland
  • Zuschüsse für Sach- oder Reisekosten
  • Abschlussarbeiten
  • Sprachkurs
  • Deutschland
  • Großbritannien / Irland
  • Kanada
  • USA
  • Mittel- und Südamerika
  • Australien, Neuseeland
  • China
  • Israel
  • Japan
  • Naher Osten
  • Sonstige (Asien)
  • Afrika
  • Sonstige (International)
  • Österreich
  • Schweiz
  • Frankreich
  • Niederlande
  • Skandinavien
  • GUS
  • Sonstige (Europa)
  • Belgien
  • Italien
  • Diplom/Magister-Studenten
  • Master-Studenten
  • Promovierende

Geförderte Fachrichtungen


Regionalwissenschaften, Verwaltungswissenschaft, Wirtschafts- und Gesellschaftslehre, Wirtschaftsingenieurwesen, Wirtschaftswissenschaften

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