phd positions in mathematical finance

Department of Mathematics

Financial mathematics.

A pioneer in its field, the Financial Mathematics Program offers 15 months of accelerated, integrated coursework that explores the deep-rooted relationship that exists between theoretical and applied mathematics and the ever-evolving world of finance. Their mission is to equip students with a solid foundation in mathematics, and in doing so provide them with practical knowledge that they can successfully apply to complicated financial models. Financial Mathematics students become leaders in their field; program alumni have gone forth to find success at companies like JP Morgan, UBS, and Goldman Sachs. Read more

Doctoral Program

Doctoral program in mathematics.

The UCF Math PhD program started from Fall 1993 with a Financial Mathematics track added in Fall 2017  and it has awarded 95 PhD degrees. Currently the program has 51 active PhD students with 49 graduate teaching/research assistantships  (Fall 2021).

The  program has awarded  95 PhD degrees since 1993 ( Fall 2021 ).

The program admitted 16 new PhD students in the 2021 Spring/Fall semesters.

PhD degree is conferred for 2 students in the spring/summer semester 2021, and  for 30 students  since 2016.  They have tenure-tracked position at Middle Tennessee State University (2021), and postdoc positions at State University of New York(2021(, Boston College(2020), Washington University at Saint Louis (2020, now tenure-track position at University of Memphis), Michigan State University (2020), University of Maryland (2019), Southern University of Science and Technology (China, 2019), University of Wyoming (2019),  KTH Royal Institute of Technology(Sweden, 2019), Duke University (2017), College of William and Mary (2017, now at Kennesaw State University), University of  Stuttgart (Germany, 2016, now at Indian School of Mines), and  King Abdullah University of Science and Technology (Saudi, 2016, now at University of Southern Denmark). They also have professorship in university or community college, and  jobs in government agencies and  the industry.

The UCF Math PhD program provides broad based training in pure, applied and industrial mathematics.  The program consists of at least 75 credit hours of course work beyond the bachelor’s degree, of which a minimum of 39 hours of formal course work, exclusive of independent study and directed research.  Students are required to take  several core courses and at least two course sequences, and also electives outside the department. Students must pass the cumulative qualifying examinations at the PhD level after taking core courses, and pass candidacy examinations after taking two course sequences. By the third year, a student should have selected an advisor, formed a committee and started a research  program.  In the semesters following the candidacy examination, a student takes at least 15 credit hours of dissertation research and engages original and creative mathematical research that pushes back the frontier of knowledge.  A PhD is awarded after a successful dissertation defense.

The UCF Math PhD program produces students who attain distinction in their fields of research. The faculty in the program are dedicated to the graduate education and many of them are recognized as outstanding scholars. Our faculty members include an invited speaker at the International Congress of Mathematics,  a Marcus Wallenberg Prize winner, Fellows of the American Mathematical Society, and a National Science Foundation Career awardee. Students in the UCF Math PhD program can specialize in many areas of pure and applied mathematics, including Approximation Theory, Applied and Computational Harmonic Analysis, Big Data and Mathematical Statistics, Combinatorics and Graph Theory, Commutative Algebra and Algebraic Geometry, Control and Optimization, Differential and Symplectic Geometry, Differential Equations, Fluid and Plasma Dynamics,  Inverse and Ill-posed Problems, Mathematical Biology, Mathematical Finance, Nonlinear Waves and Nonlinear Dynamics, Numerical Analysis, Orthogonal Polynomials, Real and Functional Analysis,  Probability and Stochastic Analysis, Tomography and Medical Imaging, Topology, and Wave Propagation.

Students in the UCF Math PhD program are encouraged to interact with other departments, institutions, and industries.  For students to pursue research in a variety of disciplines, the program offers flexibility in the composition of the core courses as well as the qualifying examination. Many faculty members in the UCF Math Department conduct interdisciplinary research and supervise graduate students in other departments, research institutes and centers within the university. Graduates in the UCF Math PhD program regularly go on to successful positions in academics, government agency and industry.

For additional information about the UCF Math PhD program such as curriculum, application requirements, admission procedure,  financials  etc, please explore   Math PhD program including financial math track in the ucf graduate catalog and the  program’s Q&A website, or contact the program director at [email protected]

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MS in Mathematical Finance & Financial Technology

If you are passionate about quantitative finance, financial technology, statistics, data analysis, and programming, and you have the determination to take on a demanding curriculum, the Master of Science in Mathematical Finance & Financial Technology (MSMFT) is meant for you.

You will be guided by faculty members, world-renowned authorities in the subject areas comprising the curriculum, to develop a skill set that will set you apart in the highly competitive quantitative finance and fintech job markets. Whether your sights are set on working in financial technology, financial data analysis, financial engineering, risk management, asset management, or quantitative analytics, you will have what it takes to succeed.

At A Glance

The three-semester program takes you to the cutting edge of financial engineering. The curriculum starts with tools such as stochastic calculus, derivatives, or computational methods necessary in most aspects of our fields. It then lets you explore your special interests, be it quantitative portfolio or risk management, fixed income or equity, You will be exposed to the latest techniques use in financial technology and statistical data analysis. You can explore exciting new frontiers such as machine learning and algorithmic trading.

Career Support

Your career is our top priority, we’ve got you covered..

Everyone attends the mandatory course, MF 610: Mathematical Finance Career Management. The weekly Friday session includes resume, interview, and coding training, presentations by quantitative finance leaders, many of which regularly hire our students. In addition, the Team; the Executive Director, the Associate Director for industry relations, our quantitative interview skills coach and our soft skills coaches follows you every step of the interview process. Advice is available for course choice, comparing multiple job offers, and more.

Our students

At Questrom, community is at the core. We’re collaborative, not cutthroat. We’re honest, thoughtful, and eager to see one another succeed. Everybody benefits from others’ success. Faculty, staff, students, or alumni, form a motivated and ambitious, but also welcoming and inclusive community.

MSMFT students hail from around the globe, but they have one thing in common—drive! They are all diligent students, eager to learn, grow, and change the world. Meet a few of our students.

Ready to settle in? You’ll find everything you need to know about on-campus housing on  BU’s Housing website . Or,  check out this guide  with tips on finding off-campus housing nearby.

Faculty Spotlights

Eugene Sorets has a BS from Cornell and a PhD from the NYU Courant Institute, both in Mathematics. Sorets has been a research mathematician at UC Irvine, the Institute for Advanced Study in Princeton, and Yale University.

He has 20 years of financial industry experience, ranging from fintech startups to establishing hedge funds. He is currently the director of research at Bracebridge Capital, a fixed income arbitrage fund based in Boston.

Steven Kou is Allen Questrom Professor in Management and Professor of Finance at Boston University Questrom School of Business. Previously, he was the Provost’s Chair Professor of Mathematics at National University of Singapore, and Professor at Columbia University (2008-2014).

Professor Kou teaches  courses on the Economics of Financial Technology course in the MSMFT program. At NUS, Kou was the Director of the Risk Management Institute. Currently he is a co-area-editor for  Operations Research,  co-editor for  Digital Finance , and  associate editor at Mathematical Finance, and has served on editorial boards of several other journals, such as Management Science, Mathematics of Operations . He is a fellow of the Institute of Mathematical Statistics, a recipient of the 2021 Shadadpuri Faculty Research award, and won the 2002 Erlang Prize from INFORMS. Kou’s PhD is in Statistics from Columbia.

Philip Sun is a fintech entrepreneur, investment manager, and leader of quantitative research and investment teams with over 25 years of professional experience. Philip is currently the CEO and co-founder of a fintech startup, Adaptive Investment Solutions, LLC. and a Professor of Finance and Entrepreneurship at Hult International Business School.

Philip teaches Algorithmic and High-frequency, where he is working to reshape the class to combine both mathematical rigor and in-depth exposure to real-world data and trading applications.

Philip holds an MBA from the Wharton School, a PhD in Physics from Carnegie Mellon University, and dual Bachelor Degrees in Physics and Mathematics from Stony Brook University. Philip is a Chartered Financial Analyst.

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*While we understand sex and gender may not be binary, this information is based on reporting requirements to the US Federal Government

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Assistant Professor, Applied Math

, probability, optimal control, ordinary, partial, and stochastic differential equations, and dynamical systems; and applications of mathematics to biology, finance , and industrial problems. Annual research

Research Associate - Mathematics and Statistics

, Biostatistics and Ecology, Combinatorics, Computational Mathematics , Data Science, Dynamical Systems and Integrability, Finance and Risk Analysis, Fractional Calculus, Functional and Harmonic Analysis, Geometry

Research Fellow (Director of Investment Operations)

to the applications of mathematics in cryptography, computing, business, and finance . PAP covers many areas of fundamental and applied physics, including quantum information, condensed matter physics, biophysics, and

One or more integrated(4+4) PhD positions in Advancing Real-Time and Trustworthy Autonomous Systems in Unexplored Environments

regardless of personal background or belief. Wages and employment Appointment and salary as a PhD fellow are according to the Ministry of Finance Circular of 15 December 2021 on the Collective Agreement

PhD Stipend in non-terrestrial open radio access networks for 6G

qualified candidates regardless of personal background or belief. Wages and employment Appointment and salary as a PhD fellow are according to the Ministry of Finance Circular of 15 December 2021

Postdoctoral Fellow - Mathematics & Statistics

, Biomathematics, Biostatistics and Ecology, Combinatorics, Computational Mathematics , Data Science, Dynamical Systems and Integrability, Finance and Risk Analysis, Fractional Calculus, Functional and Harmonic

University assistant Predoctoral

research project "Universal structures in Mathematical Finance " Job vacancy starting: 01.10.2024  | Working hours:  30h/week  | Classification CBA: §48 vWGr. B1 Limited contract until: 30.08.2026 Job ID

University assistant Postdoctoral

: Completed Master in Mathematics , PhD in an area related to the themes of the project Excellent background in stochastic analysis, probability theory, statistics and mathematical finance and an open mind

PhD Fellowship in Spatial Algorithms for Morphogenetic Patterning in Biological and Artificial Systems

PhD Fellowship in Spatial Algorithms for Morphogenetic Patterning in Biological and Artificial Systems The Niels Bohr Institute invites applicants for a PhD fellowship in biocomplexity under

University Assistant postdoctoral

the exchange between disciplines, cultures and generations? We are looking for a/an University assistant Postdoctoral in the START research project "Universal structures in Mathematical Finance " Job vacancy

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PhD in Applied Mathematics

Phd in applied mathematics degree.

Applied Mathematics at the Harvard John A. Paulson School of Engineering is an interdisciplinary field that focuses on the creation and imaginative use of mathematical concepts to pose and solve problems over the entire gamut of the physical and biomedical sciences and engineering, and increasingly, the social sciences and humanities. The program has focuses on understanding nature through the fusion of Artificial Intelligence, Computing (classical to quantum), and Mathematics. We value foundational contributions, societal impact, and ethics in our work. Our program uniquely interfaces with diverse fields, including physics, neuroscience, materials science, economics, biology and fluid mechanics, to tackle some of the most pressing challenges of our time, such as sustainability, responsible digital transformations, and health and well-being.

Working individually and as part of teams collaborating across the University and beyond, you will partner with faculty to quantitatively describe, predict, design and control phenomena in a range of fields. Projects current and past students have worked on include collaborations with mechanical engineers to uncover some of the fundamental properties of artificial muscle fibers for soft robotics and developing new ways to simulate tens of thousands of bubbles in foamy flows for industrial applications such as food and drug production.

Our core mission is to provide students with individualized programs tailored to their interests, needs, and background. We welcome students from diverse technical backgrounds. Our program is dedicated to the principles of diversity, equity, and inclusion. We celebrate and value differences among our members, and we strive to create an equitable and inclusive environment for people of all backgrounds.

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Applied Mathematics PhD Degree

Harvard School of Engineering offers a  Doctor of Philosophy (Ph.D.) degree in Applied Mathematics conferred through the Harvard Kenneth C. Griffin Graduate School of Arts and Sciences . Doctoral students may earn the masters degree en route to the Ph.D. Prospective students apply through Harvard Griffin GSAS; in the online application, select  “Engineering and Applied Sciences” as your program choice and select “PhD Applied Math” in the Area of Study menu.

The Applied Mathematics program does not offer an independent Masters Degree.

Applied Mathematics PhD Career Paths

Our graduates have gone on to careers such as start-up pioneers, social innovators, and a range of careers in industry in organizations like the Kingdom of Morocco, Meta, and Bloomberg. Others have secured faculty positions at Dartmouth, Imperial College in London, and UCLA. More generally, students with a PhD in Applied Mathematics can go on to careers in academia, banking, data science, bioinformatics, management consulting, government/military research, and more. Also, r ead about some of our Applied Mathematics alumni .

Admissions & Academic Requirements

Please review the  admissions requirements and other information  before applying. Our website also provides  admissions guidance ,   program-specific requirements , and a PhD program academic timeline .

Academic Background

Applicants typically have bachelor’s degrees in the natural sciences, mathematics, computer science, or engineering. 

Standardized Tests

GRE General: Not Accepted

Applied Mathematics Faculty & Research Areas

View a list of our  Applied Mathematics faculty and applied mathematics  affiliated research areas , Please note that faculty members listed as “Affiliates" or "Lecturers" cannot serve as the primary research advisor.  

Applied Mathematics Centers & Initiatives

View a list of the research centers & initiatives at SEAS and the Applied Mathematics faculty engagement with these entities .

Graduate Student Clubs

Graduate student clubs and organizations bring students together to share topics of mutual interest. These clubs often serve as an important adjunct to course work by sponsoring social events and lectures. Graduate student clubs are supported by the Harvard Kenneth C. Griffin School of Arts and Sciences. Explore the list of active clubs and organizations .

Funding and Scholarship

Learn more about financial support for PhD students.

• How to Apply

Learn more about how to apply  or review frequently asked questions for prospective graduate students.

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What to expect after completing a PhD in Mathematical Finance ?

Hello. I have the opportunity of starting a PhD in Mathematical Finance next year in a top Canadian school. However, I'm a little unsure about it since I've never worked in anything related to finance. Instead my past experience in research has been related to different areas of applied math such as signal processing, control theory, and machine learning. My potential advisor, who is already a full professor, says that I shouldn't worry about my lack of experience in finance because I could learn that by just 'reading journals and magazines'. He even says that if the word 'finance' in my degree bothers me, I can have my PhD in Applied Mathematics instead, but we would be basically working in applying stochastic calculus to models that show up in finance.

The university I might be attending has a strong Computer Science department and active groups in Machine Learning and Scientific Computing which I find appealing, but I don't know if I could join them in any project because I'd be from a different department.

The idea of going back to school is exciting to me since I've always liked learning and applying math to solve problems. I also know that there is huge overlap between all of the topics I've mentioned in this post. Nevertheless, my biggest concern is if my degree would make my job prospects to be limited to the finance industry or professor of finance/economics.

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Salaries for graduates of leading masters in finance programmes have grown much faster for those working in financial services compared with other sectors, in a sign of the industry’s strength. 

The latest Financial Times ranking shows that, among those who completed a masters in finance degree three years previously in one of 65 ranked schools, the average salary was $98,000 this year for those working in finance — up 12 per cent compared with 2023. For the third of graduates who chose to work in other sectors, the rise was 3 per cent to $78,000. 

Masters in Finance ranking 2024

This year’s FT ranking of courses

Of those who do not go on to work in the finance sector, the largest share are in consulting, followed by technology, manufacturing and energy.

The trend pointed to a fresh boost in the relative attractiveness — in salary terms — for graduates working in finance, and marked the largest pay differential in at least eight years.

The average salary of female graduates working in finance jumped to $91,000, narrowing the gap to men’s slightly, to 8 per cent, highlighting the still considerable disparity in what is traditionally a male-dominated career.

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Chris Connors of Johnson Associates, a New York-based financial services remuneration consultancy, notes that the surge in earnings was also seen in his firm’s data. He says it was caused by higher initial pay amid fierce competition for recruits, subsequent increases linked to high inflation and a recent rise in bonuses after two stable years.

“The sector was hiring like crazy and the war for talent was very pronounced, with way higher turnover,” he says. “Since 2021, base salaries have risen far more than historical rates in financial services.”

For the second year, ESCP maintained its position at the top of the FT ranking of “pre-experience” courses — for students with little or no prior professional work — while three other French-based schools were in the top four: HEC Paris , Skema , and Essec . London Business School retained its top position among the few institutions that offer a “post-experience” course for those who already have sector experience, ahead of the University of Cambridge: Judge and the University of Amsterdam — Amsterdam Business School . 

Among alumni of “pre-experience” courses who then go to work in finance, graduates who take a job in trading had the highest average starting salaries at $80,000, while those in non-financial sectors earned the least at $55,000. Three years after graduating, the top earners were those in private equity, venture capital, and hedge funds, earning an average of $120,000.

Since 2017, nearly three-quarters of these courses’ graduates have entered financial sector employment and, in each year, have earned more than those who go into non-financial sectors. The salary gap between graduates working in the financial and non-financial sectors has increased to $20,000, up from $6,000 in 2017.

The 2024 rankings were compiled using data from business schools and alumni who completed their masters in 2021. Participation by institutions is voluntary, and the list is weighted according to factors including salaries, gender balance and value for money.

The ranking data shows that there is still a significant majority of men, both as students and teachers. Just three of the 65 ranked schools had gender parity among faculty — IE in Spain, and Grenoble Ecole de Management and Iéseg in France. The proportion of female staff was as low as 17 per cent at Università della Svizzera italiana in Switzerland.

Among student cohorts, just Toulouse School of Management and Skema Business School in France had gender parity, while on average just over a third of the classes were female. The figure was as low as 11 per cent at Lucerne School of Business in Switzerland. 

The strength of the earnings increases is one possible reason for the continued demand for finance masters, despite a wider stagnation in less specialised business and management degrees, notably in Europe and North America.

Disruption of traditional finance jobs by artificial intelligence — with changes to both basic data entry and more sophisticated analytical work — has also sparked a restructuring by recruiters and a likely shift in students’ interests.

At the same time, several business schools say employers are increasingly demanding so-called “softer” skills, such as teamwork, communication and critical thinking, alongside “harder” quantitative skills, including coding and financial analysis.

Students are keen for greater hands-on project-based “experiential” learning with companies, too, and are pushing to learn about newer technologies such as cryptocurrencies, as well as ways to engage with sustainability and societal impact.

The FT ranking takes account of business schools’ approach to sustainability through their campus commitments to net zero emissions and publication of carbon emissions audits. Here, SDA Bocconi/Università Bocconi in Italy performed best, followed by BI Norwegian Business School and IE in Spain.

Across the ranked schools, alumni rated their strongest courses as corporate finance, investments and statistics. Compliance received the lowest rating from the graduates.

North American courses were the most expensive per month on average, while those taught in continental Europe were the cheapest — below the price for UK and Asia-based schools.

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• Posted on: 13 June 2024

Phd 2024/25 in MATHEMATICS

he course aims to train students capable of carrying out highly qualified mathematical research, both at universities and other public or private bodies, using mathematical research in any form. The training can occur either in pure mathematics, i.e. fundamental research and with outlets mainly in the academic sphere, or in applied mathematics, with outlets both in applied research in the academic world and in the industrial, financial, commercial, and public domain. The central part of the course consists of the dissertation work, during which the students develop cognitive tools that allow them to deal autonomously, originally, and innovatively with the theoretical and practical problems they will have to face in their future work environments. To provide a solid knowledge base on which to develop these skills, during the initial two years, Ph.D. students attend specialized courses held by internal and external lecturers, usually in English. In addition, Ph.D. students attend seminar series within the department and participate in conferences and workshops in Italy and abroad. Ph.D. students are also encouraged to spend training periods abroad of one or more semesters at centers with which the Ph.D. program has scientific links. This achieves another objective, essential for the modern labor market, to train individuals capable of operating effectively and smoothly in an international environment.

What is funded

5 PhD scholarships

Eligibility

See  https://phd.uniroma2.it/web/MATHEMATICS_nD1012_EN.aspx

Organisation

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The responsibility for the funding offers published on this website, including the funding description, lies entirely with the publishing institutions. The application is handled uniquely by the employer, who is also fully responsible for the recruitment and selection processes.

At least 35 of America’s billionaires are PhDs. As academic jobs become scarce, doctorates should get down to business

Samantha Dewalt is managing director of the Lehigh@NasdaqCenter, an exclusive education-industry partnership between Lehigh University in Pennsylvania and the Nasdaq Entrepreneurial Center in San Francisco .

Traditionally, a doctoral degree is regarded almost exclusively as a passport to scholarly distinction and academic tenure. Any person who committed the time, energy, and expense to attain a PhD appeared inevitably destined for the academy, free to pursue knowledge without commercial intent.

So goes the standard rationale—and training—for a doctorate. Candidates are groomed for careers in academia, where they will research, teach, and publish. That tradition, though well-intentioned, is overdue for a drastic expansion.

Saving research from ‘the valley of death’

Such an expansion has already begun. In December, the National Science Foundation awarded $100 million to 18 academic institutions all across the U.S. to “speed and scale research into products and services that benefit the nation.” The first-ever Accelerating Research Translation awards are designed to enable university scholars to convert academic innovation into commercial value and societal purpose. Each school awarded will partner with a mentoring institution of higher education already equipped with “a robust ecosystem for translational research.”

Lehigh University is among the recipients of the abovementioned National Science Foundation awards, with Carnegie Mellon University acting as its peer mentor. The $6 million award will be earmarked specifically to increase the translation of scientific discoveries in engineering, science, health, humanities, business, education, and other disciplines—by faculty, graduate students and postdoctoral researchers into prototypes, products, and programs that will benefit society.

Meanwhile, as the supply of jobs in academia struggles to keep up with the demand, more PhDs are turning to careers in industry. In 2020, The Princeton Review warned, “If it’s your ambition to become a professor, you should be aware that the PhD. track is no guarantee of a life in  academia .” As such, candidates will need to be prepared differently. 

Make no mistake: Some college graduates bearing PhDs have proven highly enterprising. It is estimated that the private sector now employs about as many PhD graduates as educational institutions.

Most research finds that between one-third and one-half of all PhD graduates globally stay in academia , while others may migrate to the private sector. Almost daily, some entrepreneurial PhDs launch new ventures that eventually hit the jackpot. Indeed, Forbes  has reported that “at least” 35 U.S. billionaires obtained a PhD before plunging into business.

But let’s face it: Academics are rarely trained to be entrepreneurs. They typically focus on conducting research, publishing manuscripts, and at times, developing intellectual property, but without cultivating the business knowledge or resources to turn innovations into viable market solutions. And it’s a shame when university research languishes on the shelf, never reaching the market—the so-called “valley of death”.

How America’s top universities are doing it

Universities are amping up efforts to educate PhD students about how to better capitalize on a doctoral degree. At Lehigh University, we have conducted a competitive analysis of what other higher education institutions, particularly those highly regarded for entrepreneurial activity, are doing to engage PhD students in entrepreneurial courses and programs. Among the schools we studied were Harvard, Stanford, MIT, Princeton, Dartmouth, and UC Berkeley. Overall, our analysis identified a need—and opportunity—to transform PhD education.

More particularly, we found that although most of these top-tier universities offer entrepreneurship education for graduate and undergraduate students alike, few target PhD students. We also learned that because most of the graduate courses in entrepreneurship originate in business or engineering schools, few are truly interdisciplinary. We also found that PhD students are more likely to participate in entrepreneurial activity if they have faculty advisors who are themselves entrepreneurs or at least entrepreneurial-minded.

Stanford University particularly stands out as an exemplary entrepreneurial environment for students. It benefits from education-industry partnerships that provide access to the most innovative companies in Silicon Valley. UC Berkeley distinguishes itself, too, for its emphasis on interdisciplinary entrepreneurial development and close collaboration with nearby startup incubators.

Dartmouth College pioneered the first engineering   PhD innovation program  that provides entrepreneurial training to turn research discoveries into market solutions. The PhD fellows take additional coursework in business, innovation, and entrepreneurship, and spend up to six months at an industry internship. 

Entrepreneurship education should be democratized. Other universities should follow the examples set by the top-tiers. All students—even those on a budget—should have access to the equivalent of an Ivy League experience.

Our university is taking a step in this new direction, to better expose our PhD students to entrepreneurial experiences and career pathways. Last fall, we introduced a hands-on, real-world, interdisciplinary course on entrepreneurship for PhD students. Built on a model designed by the National Science Foundation, the course is offered for credit and available to graduate students across disciplines through Lehigh@NasdaqCenter, partnering with the P.C. Rossin College of Engineering and Lehigh’s Office of Technology Transfer. 

It’s time for doctorates to get down to business. More PhDs should treat the ideas that emerge from scholarship as entrepreneurial opportunities. But first, they must know how to harness all that valuable education in the service of both our society and our economy.

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The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of  Fortune .

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