Entry requirements


You must upload all your university academic transcripts to the online application form. These must show the subjects studied or grades obtained from each academic year. If you are made an offer to join the programme, you will need to provide official copies of your transcripts. 

DPhil in Finance

You should have at least an upper second class honours degree or equivalent in an undergraduate degree.

DPhil in Management

For this programme, the most successful applicants typically have a distinction in a Master’s level degree in addition to an upper second class honours in their undergraduate studies.


Please see our guidance on international qualifications to assess whether your qualifications meet our requirements. If you have only just commenced a master's programme and do not have a transcript, please upload a confirmation of enrolment letter from your institution. 

GMAT or GRE test

Please note, this is not a test of your English language abilities.  All applicants must provide a GMAT or GRE (General) score and copy of the official report for your application to be considered. We do not provide GMAT or GRE waivers.

We look for a high level of quantitative and analytical skills evidenced in the GMAT or GRE results. Contact GMAC/ETS directly to arrange to take the test.

  • We have no preference between the GMAT and the GRE. 
  • All sections of the GMAT/GRE (including the analytical writing assessment) must be taken.
  • If taking the GRE, you must take the GRE general test  - we do not accept GRE subject tests. 
  • We will accept GMAT and GRE online scores in individual circumstances, such as stringent local or national lockdown measures, but we have a preference for the in-person test wherever possible.
  • Upload a PDF of your official score report to the application portal by your chosen application deadline. It is not necessary to send us your official scores via the GMAC/ETS portal at this stage.
  • GMAT/GRE scores are not valid if they are older than five years on the programme start date.
  • Sit the exam at least 20 days before the deadline. It can take this long for ETS/GMAC to release your score.

English test

You must take a Test of English as a Foreign Language (TOEFL), International English Language Test Scheme (IELTS), Cambridge Certificate of Advanced English (CAE) or Cambridge Certificate of Proficiency in English (CPE), and achieve all minimum scores, unless you are from a majority English speaking country, as defined by the UK Visas and Immigration Office (UKVI). Eligible countries:

Antigua and Barbuda, Australia, The Bahamas, Barbados, Belize, British Overseas Territories, Canada, Dominica, Grenada, Guyana, Jamaica, Malta, New Zealand, Republic of Ireland, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Trinidad and Tobago, UK, USA. 

Waivers for the English language test

You are eligible for an English language test waiver if you have completed, or are in the process of completing a degree which is:

  • Full time
  • Nine months or longer
  • Undertaken at a recognised institution, where the medium of instruction and assessment was entirely in English.

English language waivers are only applicable for two academic years. Therefore if you are applying for October 2023 entry, your degree must have been completed in 2021 or later.

If your degree was taught in a non-majority English speaking country*, you must upload an official letter or document from your institution which confirms your degree was entirely taught and assessed in English.

*As defined by the UKVI, please see above for list of eligible countries.


Minimum requirements:

  • Overall score: 110        
  • Listening: 22          
  • Reading: 24          
  • Writing: 24          
  • Speaking: 25          


Minimum requirements:

  • Overall score: 7.5
  • Each component: 7.0


  • Minimum Score: 191
  • Minimum required on each component: 185


  • Minimum Score: 191
  • Minimum required on each component: 185

Further information

The institution code for ordering your official TOEFL score sheet from ETS is 0807. There is no department code; this can be left blank.

If you choose to take the IELTS you need to sit the academic test. 

All tests will be considered invalid if they more than two years old at the programme start date. Exchange programmes/distance learning/online courses cannot be considered for the waiver.

We reserve the right to request a test of English be taken at any time.

Written work

You will need to upload three pieces of writing:

  1. A research proposal: The research proposal provides an outline of your research plans and is intended to demonstrate your ability to pursue a research-oriented academic career. The proposal should specify your intended research questions and locate them in relevant academic literature. It should outline research methods suitable to addressing your research questions and explain how they would advance knowledge in the field. Please begin your research proposal with a clear title. Max. 2,000 words. 
  2. A previous piece of written work such as an essay or section of a longer piece of work on a topic appropriate to the degree for which you are applying. Please note, you must be listed as the sole author of this piece of work - we cannot accept papers with multiple authors listed. Alternatively, you may submit a second research proposal should you have a secondary research interest. Max. 2,000 words.
  3. A personal statement. This should explain why you want to do a DPhil, why you want to study at Oxford, the field of your research interests, your preferred supervisor(s) and your post-DPhil plans. Max. 1,500 words.


Three academic references must be submitted via the online application form.  

  • If you are in the process of completing a degree programme, one reference must be from your current institution.
  • We require references to come from a valid institutional or professional email address; we will not accept a reference from a Gmail/Hotmail (or similar) address under any circumstances.
  • We cannot accept references via any other channel than our official system, including by post or email.
  • We do not accept references from friends or family members.