The ICMA Centre at Henley Business School, University of Reading (UK), is accepting applications for PhD in Finance studentships for 2027/28. Up to three studentships cover full course fees and a stipend for up to three years, and full-time applicants can also be nominated for two extra Henley Business School studentships. Funding is open to both UK and international students, including applicants from Nigeria and the rest of Africa.
Studentship deadline: 21 February 2027. Henley strongly advises submitting your PhD application by 10 January 2027, because you must hold a PhD offer (including an interview) before you can be considered for a scholarship.
Key Details
- University: University of Reading – ICMA Centre, Henley Business School, UK
- Programme: full-time PhD in Finance, 2027/28 entry (September start; no January intake)
- Awards: up to three ICMA Centre studentships plus two Henley Business School studentships open to all full-time PhD applicants
- Coverage: full fees and a stipend, renewable yearly for up to three years subject to performance
- Studentship deadline: 21 February 2027 (recommended application by 10 January 2027)
- General PhD admission deadline: 30 June 2027 (without a studentship)
Benefits
For the 2026/27 cycle, the ICMA Centre scholarship page listed these values (2027/28 figures may differ, so confirm with the department):
- Tuition fees covered (listed as £23,500 a year for non-UK students)
- A stipend of £20,780 a year for three years
- An extra £3,500 a year for teaching activities (studentship holders may be asked to teach up to seven hours a week from year two)
- Funding for conference attendance over the three years
Eligibility
- UK and international applicants may apply
- A strong undergraduate degree in a relevant subject and a master’s at merit or distinction level from an internationally recognised university; for a studentship, you are expected to have (or expect) a distinction in both your master’s and your master’s thesis
- MBAs are not considered for studentships
- Strong quantitative and computational skills
- English: IELTS 7.0 overall with no element below 6.0; spoken English is also assessed at interview
- Studentships are only for applicants who already hold a PhD offer from Henley Business School
How to Apply
- Read the official ICMA Centre PhD in Finance page and the ICMA Centre departmental scholarships page.
- Write a fully developed research proposal: introduction and relevance, a thorough literature review with strong theory, a clear research question and a research design that can be finished in three years.
- Optionally contact ICMA Centre academics in your research area to discuss your proposal.
- Apply online through the University of Reading postgraduate application portal, listing the PhD in Finance Scholarship in the funding section. Upload your master’s certificate and transcript, undergraduate records, research proposal, English test result and two references (at least one academic).
- Aim to submit by 10 January 2027 so you can complete the interview and receive an offer before the 21 February 2027 studentship deadline.
Questions can go to [email protected] or the Postgraduate Research Administrator for Finance and Accounting.
Tips for Nigerian and African Applicants
- A distinction-level master’s is expected. If your master’s used a CGPA scale, ask your university for a letter explaining your class of degree and grading scale.
- Strong proposals often use African market data, for example on Nigerian Exchange stocks, fintech lending, sovereign Eurobonds or foreign exchange shocks, but must still make a clear theoretical contribution.
- Book IELTS early; you need 7.0 with no band below 6.0, and results take about two weeks.
- Treat 10 January, not 21 February, as your real deadline because the offer and interview come first.
