Admission Requirements
- Undergraduate Bachelor's degree
- GRE or GMAT
- Cover letter
- Curriculum Vitae
- Statement of Purpose
- 2 referee reports (A link will be sent to your referees' email directly; Please ensure that you have entered the official organisational email address of your referees accurately.)
TOEFL/ IELTS
Applicants must show proficiency in the English language. Applicants, whose medium of instruction at the Bachelor's/Master's level was not in English, are to sit for either TOEFL or IELTS.
PhD Programme Fees and Tuition
Please refer to SMU PhD Programme Fees page for detailed and latest breakdown of fees and tuition. SMU scholarship provides waiver of the registration fee as well as full subsidised tuition for all students admitted into the programme from August 2016 intake.
SMU Scholarship
The scholarships provides waiver of the registration fee and full subsidised tuition for all the full-time PhD students admitted into the programme. Subject to satisfactory progress1, scholars also receive a monthly living stipend. The maximum scholarship duration is 4 years for PhD programmes. Beyond the scholarship duration, students may receive continued support through research assistantship (RA) or teaching assistantship (TA).
1 At the end of each year, the School will assess the student's academic performance and recommend whether to renew the scholarship.
Monthly Living Stipend
| Citizenship | PhD | |
| Before Qualifying Exam *wef 1 Jan 2024 | After Qualifying Exam *wef 1 Jan 2024 | |
| Singapore Citizen | S$3,200 | S$3,700 |
| Singapore Permanent Resident | S$2,800 | S$3,300 |
| Foreign Student | S$2,500 | S$3,000 |
- From August 2015, Singapore Citizens will be provided with 17% CPF contribution
SMU PGR Scholars are not allowed to take up any other gainful employment during the period of their scholarship without prior approval from the University.
As part of their Post-Graduate by Research training, SMU PGR Scholars are expected to work, without extra remuneration, as part-time Research Assistant/Teaching Assistant for up to seven hours per week.
Conference Funding
Students are encouraged to attend academic conferences, and to present research papers at conferences. PhD students with papers accepted for presentation at reputable conferences may apply for funding up to a maximum of S$4,000.
Presidential Doctoral Fellowship
Presidential Doctoral Fellowships are awarded to outstanding PhD students. Students awarded the fellowship received a higher monthly stipend for one year, and additional conference support of up to S$4,000 during the award period.
Postgraduate Insurance
For more information on Postgraduate Insurance, please click here.
Application
Applicants should indicate in their applications which programme they are applying for. Admission will be subject to the consideration by the Admission Committee.
How to Apply
Please click here on General Instructions for completing your Application.
For Applicant's Self Service Guide, click here .
For Applicant's Guide to Admissions, click here .
Online Application:
Online Application opens from 1 Aug 2025 - 31 Dec 2025 for AY2026 Aug Intake.
*If your application is received early, we may be able to interview you earlier and make you an early offer.
For New User | For Existing User | For Existing User (Created before 16 December 2024) |
You need to first register for an account with SMU before you can submit an online application form. Click on "Register New Account" below to proceed. | If you have already created an account with SMU, please go directly to the Login page to proceed with your application. | SMU has launched a new application portal on 16 December 2024. If you have already created an account with SMU, please go directly to the Login page to proceed with your application. |
| Login Now |
Students are encouraged to complete the programme in 4 years.
The minimum duration of the programme is three years. Most students, however, are expected to take about four years to complete the programme. The maximum registration duration of the programme is five years, unless special approval for a longer duration is given by SMU.
The curriculum consists of
- 6 Foundation courses (6 course units)
- 2 Electives (2 course units)
- 4 Advanced Research Topics (ART) courses (4 course units)
The programme also requires the preparation and completion of a PhD Dissertation (28 course units).
Programme Schedule (Sample)
| Year | Term 1 (Aug - Nov) | Term 2 (Jan - Apr) | Term 3 (May - Aug) |
| 1 | Foundation courses Elective courses | Foundation courses Elective courses | Research |
| 2 | ART courses Research Prepare Dissertation Proposal | ART courses Research Pass PhD Qualifying Exam Form Dissertation Committee | Research |
| 3 | Submit Written Dissertation Proposal Oral Defence of Dissertation Proposal Dissertation Research | Dissertation Research | Dissertation Research |
| 4 | Dissertation Research | Dissertation Research (i) Submit written report of completed Dissertation Research (ii) Oral defence of completed Dissertation | (i) Revise and/or re-submit Dissertation Report (ii) Submit Approved Dissertation Report to LKCSB PGR Office (iii) Dissertation Report from LKCSB PGR Office to GSO for approval |
Year 1 & 2 | Years 3-4 |
Six research foundation courses including: Foundations of Business Research Two electives: PhD level seminars in disciplines outside Finance, eg. Microeconomics II Four Advanced Research Topics (ART) courses: Corporate Governance: Financial Perspective Each course meets three hours per week during the Term. | Completion of PhD Dissertation Students are expected to form the PhD Committee in Year 2, including selection of a PhD Supervisor. Then, under the supervision of the PhD Supervisor, students will prepare and defend their dissertation proposal, conduct dissertation research, and conduct a final defence of the dissertation. Graduation Requirements PhD in Business (Finance)
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*As a matter of practice, however, the Programme would plan 2 electives and 2 ART courses for any incoming new batch of students to complete. Students who have taken the assigned electives and ARTs courses may, at the approval of the programme director, register to take additional elective(s) and/or ART courses. Two ART units are set aside as Independent Study to be completed with the supervisor or potential supervisor. These are also graded. All 6 foundation courses, 2 electives, and 4 ART units are to be completed before the Qualifying Examinations that will take place during the second year of study.Students who fail courses or the Qualifying Examinations may be asked to leave the programme without a chance to retake.
