Application Procedure


Admission requirements:

The following requirements have to be met in order to be admitted to the PhD Program in Finance:

  • 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 will finish their Master studies after the deadline but before June 2017 are welcome to apply as well.
  • Proficiency in financial economics
  • Proficiency in mathematics and/or statistics
  • Adequate English proficiency

Application deadline:

  • The application for the cohort starting in 2017/2018 is closed.
    The next application period will be opened in fall 2017 and run until end of January 2018.
    Applicants to the VGSF program should be aware that there are two rounds of evaluations: The first evaluation will take place in December 2017 and a first round of offers will be made. The second and final phase will run until end of January 2018. The exact dates will be communicated on the webiste in due time.

Admission procedure:

  • Step I: Selection

    • Complete applications which meet all admission requirements will be evaluated by the admission committee. Based on this evaluation the best applicants will be selected and will be invited to a VGSF Welcome Day in Vienna to get to know the graduate school.

  • Step II: Admission Offer

    • Based on all available evidence the admission committee will determine a final ranking of applications. Top candidates will be given an admission offer, in form of a written notice of the applicant’s acceptance. To claim his/her place in the program, the applicant must confirm the admission offer in writing within ten days of receipt.

  • Step III: Admission Confirmation

    • 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:

  • 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.

  • All correspondence will be made via e-mail using the e-mail address you have specified for the login to the online application tool.

In the online application form you have to provide the following information (Please make sure that uploaded pdf-files are well-arranged and organized. Please avoid filenames like "scan1.pdf", and recommend naming files such that their contents can be easily identified):

  • A self-statement of purpose (letter of motivation)
  • All your degree certificates
  • All your official transcripts (we advise you to provide grading scales or similar information; otherwise grades/transcripts may have little or no meaning, and/or may be difficult to interpret)
  • Curriculum vitae
  • GMAT or GRE (code number 9618) test scores; mandatory (!) and not older than five years
  • Proof of English competence; for example

    • TOEFL (code number 9618): paper based at least 600 points; computer based at least 250 points; internet based at least 100 points, not older than two years
    • IELTS: at least 7.0 points (no band below 6) and not older than two years
    • CAE
    • TOEIC: at least 800 points and not older than two years
    • CPE
    • BEC Higher
    • Another proof of your English competence (e.g. full degree program done in English, Master thesis in English, exchange program, internship)

  • At least two reference letters:

    • It is the applicant's responsibility to organize the submission of letters
    • In the online tool you only specify the contact details (name and e-mail) of the persons who are willing to provide reference letters
    • They will not be contacted by VGSF
    • Reference letters must be sent by e-mail in .pdf format to office(@)vgsf(.)ac(.)at by the person who writes the letter (not the applicant!)
    • Reference letters must be received before the application deadline

Online application tool