Program Overview

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Aalto Doctoral Programme in Business, Economics and Finance

The Aalto Doctoral Programme in Business, Economics and Finance is a four-year, English-language doctoral programme offered by Aalto University School of Business. The programme delivers rigorous research training in an academic environment defined by research excellence, intellectual independence, critical inquiry, and a collaborative, low-hierarchy culture.

Degree

• Doctor of Science (Economics and Business Administration)

Application Period

• 11 December 2025 – 8 January 2026

Language of Instruction

• English

Duration

• 4 years, full-time

Eligibility

• Relevant master's degree awarded by a Finnish university or a Finnish university of applied sciences, or a corresponding degree completed abroad

Field of Study

• Business and Economics

Organising School

• School of Business

Applying to the Doctoral Programme

To apply, ensure you meet the eligibility requirements and possess the qualifications expected of applicants. The application period is annually in December-January for studies starting in September.

Admission Schedule 2026

• Application period opens on 11 December 2025 at 09:00 (UTC+2) and closes on 8 January 2026 at 15:00 (UTC+2)

Admission Groups and GMAT/GRE

Applicants are divided into three admission groups based on the degree that grants them eligibility to apply for the doctoral programme.

1. Admission Group 1: Applicants with a higher university or higher university of applied sciences degree completed in Finland applying for studies to be conducted in Finnish or English.
2. Admission Group 2: Applicants with a non-Finnish university degree applying for studies to be conducted in English. In admission group 2, applicants must present a GMAT or GRE test result and prove their language proficiency in English.
3. Admission Group 3: Applicants with a non-Finnish university degree applying for studies to be conducted in Finnish. In admission group 3, applicants must prove their language proficiency in Finnish.

Basic Information on Doctoral Studies

Intended Learning Outcomes

The purpose of the Aalto Doctoral Programme in Business, Economics and Finance is to equip its graduates for successful international careers in the world of higher education and academic research.

Degree Requirements and Coursework

The Doctoral Programme in Business, Economics, and Finance leads to a Doctor of Science in Economics and Business Administration degree (D.Sc. (Econ.)). The programme requires the completion of 60 ECTS credits, including advanced, doctoral-level coursework and a substantial piece of independent, original research.

Funding

The School of Business's doctoral studies funding is structured as a hybrid model that combines employment and foundation grants.

Funding for the First Study Year

School of Business guarantees funding for the first study year for full-time on-campus doctoral researchers. The funding can consist of a combination of the following components:

• 50% employment contract with a department
• A so-called "half-grant" from one of several foundations
• In some cases, 50% (replacing the foundation grant) or 100% (replacing both above components) employment contract with a department funded by a research project

Funding for the Second Study Year

School of Business guarantees funding also for the second study year for full-time on-campus researchers that have progressed satisfactorily in their studies. The funding consists of:

• 50% employment contract as described in the previous section
• A "half-grant" from a foundation
• Back-up funding solution if the researcher is not granted funding by the foundations

Application Instructions 2026

Admission is organised annually in December-January for studies starting in September.

Contact Information

If you have a question that you cannot find the answer to in the application instructions, contact the doctoral programme's Doctoral Education Services.

Who Can Apply?

Eligibility

To be eligible for doctoral studies at the School of Business, applicants must have completed a relevant master's degree awarded by a university or a university of applied sciences, or a corresponding degree completed abroad.

Required Documents

All material that you want to be considered in the application process should be in a language understood by the people evaluating applications. Generally, this means English or Finnish.

Copies of Academic Degrees

• Scanned color copy of the original degree certificate
• Scanned color copy of the original official transcript of study records

Admission Group 2: GMAT or GRE Test Score Report

Applicants with a non-Finnish university degree applying for studies to be conducted in English must present a GMAT or GRE test result.

Language Test Report

A student copy of a language test report from a test taken no later than 8 January 2026.

CV

Please feel free to use a template of your own; there is no standardized form requirement.

Statement of Purpose

A statement of purpose in English of 1000 words or less describing your motivation for doctoral studies and your career objectives.

Academic Work / Research Plan

Depending on the chosen major, either a research plan or one selected independent academic work is required.

Two (2) Recommendation Letters

Two letters of recommendation, which the referee must send directly to the office of the Doctoral Programme.

Copy of a Valid Passport

Copy of a valid passport or an official government-issued identification card with photo and information on citizenship.

How to Apply?

The application period for studies beginning in the autumn of 2026 runs from 11 December 2025 at 09:00 (UTC+2) to 8 January 2026 at 15:00 (UTC+2).

Admission Results

Results are published at the latest by Thursday, 19 February 2026.

Contact Us

If there you have any questions about admissions and application instructions or programme-specific inquiries, you can contact Doctoral Education Services.

Departments of the School of Business

Department of Accounting & Business Law

The Department of Accounting is one of the leading research faculties in the Nordic region.

Department of Economics

The Department of Economics provides a comprehensive insight into the functioning of economies and the environment in which companies operate.

Department of Finance

The Department of Finance at Aalto University School of Business is one of the leading finance departments in Europe.

Department of Information and Service Management

The Department of Information and Service Management refers to the creative use of information and digital technology in business and the move from industrial to service dominant forms of production.

Department of Management Studies

The Department of Management Studies offers a dynamic environment for scholarship and learning.

Department of Marketing

The Department of Marketing is a thriving and dynamic community of faculty, researchers, staff, and students.

Frequently Asked Questions

How Often is the Application Process Organized?

Admission is organised annually in December-January for studies starting in September.

Is it the Process Same for All?

Anyone who is interested in doctoral studies at the Aalto University School of Business participates in the same application process.

Where Can I Find the Application Form?

A link to the application with instructions will be added to the website closer to the admission period. The form is electronic.

How Many Recommendation Letters are Necessary?

Two. Referees should send the recommendation directly to the office of the Doctoral Programme via email.

How and When Should I Take Measures to Arrange My Funding?

Regarding the Business School funding, the arrangements are made when the admission process is over, and the school will contact the admitted students about the procedure.

Can I Apply Without a GMAT or GRE?

This depends on your admission group. Please read more about the admission groups and the requirements applied to them.

What is the Admission Rate to the Doctoral Programme?

The school receives about 200-260 applications each year and admits about 20-30 doctoral students. The admission rate varies from year to year, so the previous years' rates may not be relevant this time.