skip to content

Cambridge Endowment for Research in Finance (CERF)


The Call for Applications is sent out annually and application deadline is set each year.

Funding is for up to 3 years and includes university fees, college fees, and accommodation. There is also an additional maintenance stipend.

The scheme is open to PhD students within the University of Cambridge, from any department, who do research into all aspects of finance, financial institutions, and financial markets, and their relationship with the performance of the economy.

Incoming doctoral students or students who are in the first year of their PhD can apply for funding. Funding is for a maximum of 3 years, and no money is given retrospectively for any time already spent on the PhD programme.

Applicants for a CERF scholarship have to be nominated by their PhD supervisor.

Reference letters must be sent to CERF by the deadline indicated on the advertisement for each competition. The applications will be considered by a selection committee. Applicants will be notified about the progress of their application and informed about the outcome by email.

Copies of applicants' GRADSAF / PhD application documents (including official transcripts and references) will be required.

Applicants are usually informed about the outcome by the end of February. Appointments are based on academic merit and the candidate’s research proposal. The selection committee reserves the right not to award any scholarships if applications do not meet the required standard or criteria.

The recipient of a CERF scholarship will be expected to report on his/her research progress and actively to engage with CERF by attending relevant seminars, and by giving the occasional research presentation. The CERF scholar may also be required to provide very occasional assistance, including providing support during events organized by CERF. The CERF scholar may be given office space in the CERF premises (subject to availability), and he/she will be given the opportunity to interact with other researchers linked to CERF.