Admission An excellent Master's degree and the Supervisor's letter of recommendation are the prerequisites for admission to the PiF Programme. If you are interested to join the PiF programme, the admission consists of two steps. 1) Formal Eligibility Check The Ph.D. office will first pre-check whether the applicant meets the formal eligibility conditions for admission. Among others, she/he has to show a Master's degree from a research university or equivalent consecuitve university degree (consisting of at least 270 ECTS credits). The grade average must be at least 5.00 (Germany/Austria 2.0; U.S. GPA 3.5) - no exceptions. Applicants whose native language is not English shall provide evidence of an adequate command of the English language unless they have obtained a degree for an English-language Master programme. If the applicant does not meet the formal eligibility criteria, she/he is notified by the Ph.D. office. If the applicant does meet the formal eligibility criteria, her/his application is passed on to the Executive Director of the PiF Programme (Prof. Dr. Florian Weigert). 2) Admission to the PiF Programme Eligible candidates are admitted to the PiF Programme only if they obtain a letter of recommendation by a full professor of the University of St. Gallen's School of Finance who will supervise the Ph.D. thesis project. The Executive Director of the PiF Programme is responsible for matching eligible candidates with the School of Finance Faculty. The Executive Director will compile an application file for each eligible candidate and pass this file on to prospective supervisors. The candidate does not need to approach prospective supervisors directly. After having received the application file of a candidate, faculty members have eight weeks to interview the candidates and submit a recommendation letter. If a faculty member wishes to interview a candidate she/he will inform the Executive Director and contact the candidate directly. The candidate is admitted to the PiF Programme if she/he obtains a recommendation letter from the respective professor. If no faculty member wishes to interview the candidate within eight weeks of having received the application file, the Executive Director informs the Ph.D. office that the candidate is not admitted to the PiF Programme. The Ph.D. office informs the candidate that she/he is not admitted to the PiF Programme.