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Why Pursue a PhD in Finance?

The PhD in Finance offers classes that are diverse in terms of professional experience, academic experience, cultural influences and international experiences. Commitment to research and a passion for teaching are two of the qualities that distinguish both our doctoral faculty and our graduates. Students work closely with faculty members in small classes, seminars, research projects and other assignments, aimed toward developing the analytical skills competencies to conduct independent quality research.

Research Opportunities

At the Alvarez College of Business, professors are conducting research in their fields to strive for current findings. In turn, this also helps students keep current and aware of trends or changes in the fields of Accounting, Finance, Information Systems & Cyber Security (IT), Marketing, Management & Organization Studies (Management) and Management Science & Statistics.

Admission & Application Requirements

Applications are submitted through the UTSA Graduate Application. Please upload all required documents (listed below) on your UTSA Graduate Application. It is the applicant’s responsibility to ensure completion and submission of the application, a nonrefundable application fee, and all required supporting documents are on file with UTSA by the appropriate application deadline.

Finance (PhD)
Admission is only available for the Fall semester
  Required Degree Bachelor's Degree from a regionally accredited college or university in the United States or have proof of equivalent training at a foreign institution
  Minimum GPA 3.0 (on a 4.0 scale) departments may consider GPA of last 60 semester credit hours
  Coursework 18 credit hours in an area related to this graduate degree and at least 12 hours must be at the upper-division level
  Transcripts* Required from all institutions attended; international transcripts must be recorded/translated to English
  Credential Evaluation Required if you have earned university-level credit from foreign institutions. Submit an evaluation of your transcripts from Educational Credential Evaluators (ECE) directly from the graduate admission application platform
  GRE/GMAT Required scores not older than five years.
  TOEFL/IELTS Score 550 TOEFL Paper / 79 TOEFL Internet / 6.5 IELTS scores for International applicants (exempt countries).
  Purpose Statement Required
  Resume Required
  Letters of Recommendation 3 letter(s) of recommendation demonstrating your academic and personal attributes for success in this program (you will request these through the Graduate Admissions Application; let your recommenders know of your deadline to ensure submissions are on time)
*Unofficial transcripts will be taken into consideration for admissions; however, if admitted into the program, you must submit official transcripts to the University.
Apply using 2021-22 Graduate Application Apply using 2022-23 Graduate Application

Admission Deadlines

Applicants are encouraged to have their admission file completed as early as possible. All applications, required documents and letters of recommendation, if applicable, must be submitted by 5:00 PM U.S. Central Time on the day of the deadline. Deadlines are subject to change.

Finance (PhD)
Completed applications will be reviewed for admission on a rolling basis. Decisions generally will be made and sent to applicants within 4 to 6 weeks of receiving the application.
  Fall Spring Summer
International February 1 Not Available Not Available
Domestic February 1 Not Available Not Available

Funding Opportunities

PhD’s are generally funded with a financial package which consists of an assistantship in the form of a research or teaching assistantship with paid tuition and fees for up to four (4) years.

Career Options

UTSA prepares you for future careers that are in demand. The possible careers below is data pulled by a third-party tool called Emsi, which pulls information from sources like the U.S. Bureau of Labor Statistics, U.S. Census Bureau, online job postings, other government databases and more to give you regional and national career outlook related to this academic program.


While in a doctoral program, a student may earn a master’s degree provided the following conditions are satisfied:

  • A student must be admitted to candidacy.
  • A student is eligible to receive a master’s degree upon completion of University-wide requirements and any additional degree requirements specific to the program.
  • The Doctoral Studies Committee, Department Chair, and the Graduate Associate Dean of the College must recommend students for the degree.
  • The student must apply for graduation by the published deadline the semester prior to awarding the doctoral degree.
  • All required coursework in the doctoral program at the time of admission to candidacy must have been taken within the previous six years.
  • If the master’s degree requires a thesis, the degree cannot be awarded on the basis of the doctoral qualifying examination.
  • Students will not be approved for an additional master’s degree in the same field in which an individual has previously received a master’s degree.

This is a full-time program. Students will normally be expected to enroll for nine hours each semester. Most courses will be offered during the day. PhD students normally serve as either a teaching assistant or research assistant throughout the program. These experiences are an important part of the training and overall doctoral experience. It would be difficult for someone to manage both a full-time job and the doctoral program’s requirements.

Graduate Advisor of Record

Onur Bayar, PhD

210-458-6837

Onur.Bayar@utsa.edu