yale phd finance

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Yale University

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Graduate & professional study.

Yale offers advanced degrees through its Graduate School of Arts & Sciences and 13 professional schools. Browse the organizations below for information on programs of study, academic requirements, and faculty research.

Graduate School of Arts & Sciences

Yale’s Graduate School of Arts & Sciences offers programs leading to M.A., M.S., M.Phil., and Ph.D. degrees in 73 departments and programs.

School of Architecture

The Yale School of Architecture’s mandate is for each student to understand architecture as a creative, productive, innovative, and responsible practice.

School of Art

The Yale School of Art has a long and distinguished history of training artists of the highest caliber.

Divinity School

Yale Divinity School educates the scholars, ministers, and spiritual leaders of the future.

David Geffen School of Drama

The David Geffen School of Drama graduates have raised the standards of professional practice around the world in every theatrical discipline, creating bold art that engages the mind and delights the senses.

School of Engineering & Applied Science

The Yale School of Engineering & Applied Science is at the cutting edge of research to develop technologies that address global societal problems.

School of the Environment

The School of the Environment is dedicated to sustaining and restoring the long-term health of the biosphere and the well-being of its people.

Jackson School of Global Affairs

The Jackson School of Global Affairs trains and equips a new generation of leaders to devise thoughtful, evidence-based solutions for challenging global problems.

Yale Law School hones the world’s finest legal minds in an environment that features world-renowned faculty, small classes, and countless opportunities for clinical training and public service.

School of Management

School of Management students, faculty, and alumni are committed to understanding the complex forces transforming global markets and building organizations that contribute lasting value to society.

School of Medicine

Yale School of Medicine graduates go on to become leaders in academic medicine and health care, and innovators in clinical practice, biotechnology, and public policy.

School of Music

The Yale School of Music is an international leader in educating the creative musicians and cultural leaders of tomorrow.

School of Nursing

The Yale School of Nursing community is deeply committed to the idea that access to high quality patient‐centered health care is a social right, not a privilege.

School of Public Health

The School of Public Health supports research and innovative programs that protect and improve the health of people around the globe.

Faculty of Arts and Sciences (FAS)

The Faculty of Arts and Sciences is composed of the departments and academic programs that provide instruction in Yale College and the Graduate School of Arts and Sciences.

Centers & Institutes

A number of our centers and institutes offer additional opportunities for graduate and professional study.

Matthew Spiegel

Professor of finance, director of graduate studies.

Contact Information: Email:   [email protected] Phone:  203-432-6017

Postal Address: P.O. Box 208200 New Haven, CT 06520-8200

Private Carrier Address (UPS, FedEx, etc.) 165 Whitney Avenue New Haven, CT 06511-3729

Recent Research:

The Impact of COVID Restrictions on Business Dynamics with Andra Ghent, and Paige Rowberry (working paper). Investigates the effects of COVID -19 restrictions on business dynamics and labor markets. Findings include job creation slows, job losses from  business closures rise, and existing firms experience stagnation in workforce growth.

COVID-19 NPIs and Nonnatural Deaths from 2020 to 2022 (working paper). Post-2019 the CDC reported a large increase in homicides as well as drug and alcohol deaths. At the same time suicides were little changed. Were the COVID-19 related limits on businesses and social activity to blame for the increases? What about the fact that suicides were little changed? This paper tries to determine the degree to which the lockdowns impacted the number of non-natural deaths from these three causes.

COVID NPIs and Lockdown Fatigue (working paper) Commentators have claimed that “lockdown fatigue” eventually meant that COVID-19 related orders restricting social and business activity eventually had no beneficial impact on the virus’ spread. This paper examines whether or not that claim is true.

All or Nothing? Partial Business Shutdowns and COVID-19 Fatality Growth with Heather Tookes. (Published in PLOS One.) This paper expands on our earlier work and looks at whether partial shutdowns of restaurants, bars, gyms and spas were as or more effective a full shutdowns. As with our earlier paper you can also see our data and help us to improve its accuracy at https://som.yale.edu/covid-restrictions .

Business Restrictions and COVID Fatalities with Heather Tookes. (Published in the Review of Financial Studies .) This paper uses a a hand collected database to see whether particular restrictions imposed to reduce COVID-19 fatalities actually did so. You can also see our data and help us to improve its accuracy at https://som.yale.edu/covid-restrictions .

Solving the model in my 2013 paper co-authored with  Heather Tookes ,  “Dynamic Competition, Valuation, and Merger Activity,”  in the  Journal of Finance  takes quite a few steps. This  step-by-step guide  will lead you through the process.

Editorials:

“ Replication? Do You Even Have Access to the Data? ,” Critical Finance Review , 2019. “Reviewing Less – Progressing More,”   Review of Financial Studies , 2012. “2000 A Bubble? 2002 A Panic? Maybe Nothing?,”   Wilmott Magazine , March 2004.

Matthew Spiegel is currently a Professor of Finance at the Yale School of Management. In 1987 he received his Ph.D. in economics from Princeton University. He then taught at Columbia University’s Graduate School of Business and subsequently joined the faculty at U.C. Berkeley’s Haas School of Business. Professor Spiegel has authored a number of influential papers within finance several winning awards. These include the Michael Brennan and Steve Ross best paper awards and the ANBAR Management Intelligence Citation of Excellence. In 2015 his overall body of work was recognized with Eastern Finance Association’s Distinguished Scholar Award. His most recent contributions lie in the development and application of dynamic oligopoly models to corporate finance as well as how mutual fund returns influence asset flows. He is the former Executive Editor of the Review of Financial Studies (2005 to 2011), and he helped found and then co-edit the Journal of Financial Markets (1998 to 2005). He has also been an associate editor for the Review of Financial Studies, and a past director of the Western Finance Association. He has been honored to give keynote address at the European Financial Management association’s annual meeting in Dublin, the New York Triple Crown Finance conference, the Australasian Finance and Banking Conference, the European Winter Finance Summit, the Erasums University Professional Asset Management Conference and the Eastern Finance Association’s Annual Meeting. He is the former President of the Society for Financial Studies and Advisory Chair for the Society’s annual Finance Cavalcade. He is currently the Asia-Pacific Cavalcade’s Inaugural Year Advisory Chair.

School of Management 2024 – 2025

Doctoral degree program.

The doctoral program is taught by the faculty of the Yale School of Management and is intended for students who plan scholarly careers involving research and teaching in management. The program is small and admits only a few highly qualified students each year. Currently, specialization is offered in the management fields of accounting, financial economics, marketing, operations, and organizations and management.

Each student develops a customized course of study in consultation with the relevant faculty members and the director of graduate studies for the program. During the first two years, students normally take three or four courses each term, gain experience in research, and prepare for the qualifying examination in their chosen areas of concentration. All program requirements except the dissertation must be completed prior to the start of the fourth year of study.

Students typically take five years to complete the program. Upon completion of the program, most students elect careers that combine scholarly research with teaching in a university setting.

This program has been designed to enable a student to concentrate in any of a number of traditional or innovative areas of the management process. The format allows informal arrangements to surface in response to diverse faculty and student talents and interests. Flexibility is a central feature of the doctoral program. We expect area studies to evolve as faculty strengths and interests change and grow.

Program Offerings

The courses offered in the doctoral degree program may change from year to year according to student and faculty interests. The courses listed below are the core courses and those designed specifically for this program’s different specializations. Additional courses of interest are offered throughout the university.

• ECON 500 and 501, General Economic Theory: Microeconomics
• MGT 611, Policy Modeling
• MGMT 700, Seminar in Accounting Research I
• MGMT 701, Seminar in Accounting Research II
• MGMT 702, Seminar in Accounting Research III
• MGMT 704, Seminar in Accounting Research IV
• MGMT 720, Models of Operations Research and Management
• MGMT 721, Modeling Operational Processes
• MGMT 731, Organizations and the Environment
• MGMT 733, Theory Construction
• MGMT 737, Applied Empirical Methods
• MGMT 740, Financial Economics I
• MGMT 741, Financial Economics II
• MGMT 742, Theoretical Corporate Finance
• MGMT 745, Behavioral Finance
• MGMT 746, Financial Crises
• MGMT 747, Empirical Asset Pricing
• MGMT 748, Empirical Corporate Finance
• MGMT 750, Seminar in Marketing I
• MGMT 751, Seminar in Marketing II
• MGMT 753, Behavioral Decision-Making I: Choice
• MGMT 754, Behavioral Decision-Making II: Judgment
• MGMT 755, Analytical Methods in Marketing
• MGMT 756, Empirical Methods in Marketing
• MGMT 758, Foundations of Behavioral Economics

Students are encouraged to work closely with faculty members to develop, conduct, and report significant research. Students design their program of studies in consultation with faculty members. However, each student’s program has at its core a small number of important common courses. For example, a marketing student’s program of study usually includes all doctoral seminars taught by the marketing faculty, some doctoral seminars taught by other Yale School of Management faculty, and a considerable number of graduate-level courses in related departments outside the School of Management. Courses taken outside the School of Management are usually taken in the departments of Economics, Psychology, and Statistics and Data Science. Other departments and schools of interest include Sociology, Political Science, and Law.

Individualized Study

The number of doctoral students admitted each year is limited, enabling each student to obtain individual instruction and guidance. Students may, for example, take tutorials with faculty members on specific topics not covered by formal courses. In addition, students work with the faculty and with their student colleagues on research projects to gain experience and sharpen skills in their areas of special interest.

Multiple Learning Methods

Doctoral students engage in a wide variety of learning activities. Formal course work is important, but just as important are the informal seminars, colloquia, research projects, opportunities to assist in teaching, and various other activities that can help one understand and deal competently with management and organizational phenomena.

Interdisciplinary Study

Students are encouraged to develop programs that draw on courses and learning experiences from a variety of academic disciplines. The school maintains working relationships with various departments and other professional schools at Yale University.

Requirements for Admission

The program admits promising students whose academic backgrounds are in the behavioral sciences, business, economics, statistics, mathematics, engineering, or the liberal arts.

For more information, refer to the Graduate School of Arts and Sciences Bulletin’s Policies and Regulations chapter https://catalog.yale.edu/gsas/policies-regulations .

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Financing Graduate School – PhD Programs

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Direct and Indirect Costs

The direct costs of attending graduate school include tuition and fees. Students are also often required to buy themselves health insurance in order to be enrolled. Each school has different tuition and fee charges and different insurance costs. Tuition and fees also vary at state schools for in-state residents and out-of-state nonresidents. The indirect costs include things like room, board, books and supplies, travel, loan fees, and personal expenses.

Internal Funding

Funding is often offered for many doctoral programs; in exchange, students are often required to complete teaching assistantships, research assistantships, fellowships, and trainee-ships. Although it may take longer to complete your degree if you have teaching, research, or other obligations, such experience may also be crucial preparation for your career. Teaching assistantships are generally awarded to second-semester or second-year graduate students and may include a tuition waiver and stipend in exchange for leading a discussion section, supervising a lab, or grading papers. Research assistantships are also awarded by the institution, typically to second-semester or second-year graduate students. In return, you will receive a partial or full tuition waiver and a stipend. Some examples of the internal aid at Yale are available at the Yale Graduate Funding and Aid Office .

Internal funding opportunities generally provide tuition support and health insurance in addition to a stipend for living expenses. Different programs offer different amounts over a different number of years. You will need to check whether a program you are considering offers this kind of support and complete any necessary application materials.  If you are considering a state school where you are not a resident, be sure to research if, and for how long, the support they offer would cover the cost of out-of-state tuition and the likelihood of gaining residency within that period.

Master’s-only programs are less likely to offer the same level of financial support as doctoral programs; however, some do offer support. In addition, funded doctoral programs that provide a master’s on the way may offer tuition, health insurance, and a stipend while students are earning the master’s degree.

External Funding

External grants and awards can sometimes provide better funding and support than internal assistantships and fellowships offered. Sources of funding can be explored at Yale’s Graduate School of Arts and Sciences Fellowships page and a list of nationally competitive external fellowships can be found on Yale’s Fellowship and Funding page . The following sites also have lists of external funding that students can explore: Scholarships.com , Fastweb! , ProFellow , Grants.gov , Peterson’s , Grantwatch.com , and MSU’s Grants for Individuals .

Need-Based Funding and Loans

Financial aid is also available through a school’s office of scholarships and student aid (names of the office may vary) in the form of need-based loans or grants. Be aware of the terms of any loans and the fact that loans can accrue interest while you are still in school.

• Students must file the Free Application for Federal Student Aid (FAFSA) to be eligible.
• Graduate PLUS Loans : A federally-guaranteed student loan that helps meet financial needs that exceed Federal Stafford Loan limits. Grad PLUS is a credit-based loan. In order to be eligible, you cannot currently have adverse credit. Students must file the Free Application for Federal Student Aid (FAFSA) to be eligible.

Office of Career Strategy

Visiting yale.

• Graduate Financial Aid

The Office of Graduate Financial Aid in the Graduate School of Arts and Sciences plays a crucial role in supporting graduate students in managing financial matters. We are responsible for administering financial aid programs, providing information on fellowships, scholarships, grants, and loans, and assisting graduate students in navigating the complexities of funding your education. We work to ensure that students have access to financial resources and make informed decisions about their financial responsibilities during their graduate studies.

Our funding package for PhD students is one of the most generous in the world. On average, doctoral students at Yale receive more than $500,000 in tuition fellowships, stipends, and health care benefits over the course of their enrollment. Every PhD student receives a funding package that covers the full cost of tuition and provides a stipend to cover basic living costs like rent, food, and books — for a minimum of five years. There is supplementary financial support to cover research-related travel and conference funding. On top of that, we pay for your health coverage.

More information about the reosurces available to all GSAS students can be found below.

GSAS Financial Support

PhD Stipend & Funding

PhD students at Yale are normally full-funded for a minimum of five years. During that time, our students receive a twelve-month stipend to cover living expenses and a fellowship that covers the full cost of tuition and student healthcare.

• Explore All PhD Funding Resources

Master's Funding

While Master's programs are not generally funded, there are resources available to students to help navigate financial responsibilities during graduate school.

• Explore All Master's Funding Resources

Additional Sources of Funding

Featured Resource

Dean's Emergency Fund

The Dean’s Emergency Fund enables terminal master’s and PhD students in the Graduate School of Arts and Sciences to continue making academic progress despite unanticipated, extreme financial hardships that cannot be resolved through fellowships, loans, or personal resources. The maximum award for eligible requests is $2,000.

PhD Student Summer Funding Resources

The Graduate School offers a number of summer funding awards to support academic activities related to PhD degree requirements. These include competitive research travel fellowships and tuition grants for enrollment in GSAS-sponsored language courses offered in Yale Summer Session.

Dean's Colloquium and Symposium Fund

If you are interested in leading an academic event, such as a workshop or conference, the Dean's Colloquium and Symposium Fund provides financial support for graduate student-led events

Conference Travel Fellowship (CTF)

https://gsa.yale.edu/ctf

By partnering with the MacMillan Center and the Graduate School of Arts and Sciences, graduate students with representatives in the Graduate Student Assembly are eligible for annual conference travel funding of up to $800.

Yale Student Grants Database

https://yale.communityforce.com/Funds/Search.aspx

The Student Grants Database allows you to search for any Yale funding and external fellowships that have a campus application process.

MacMillan Center Fellowships for Research and Study Abroad

https://ovef.macmillan.yale.edu/fellowships-0

The MacMillan Center administers a variety of fellowships that support research, language study, conference travel, and other academic activities related to international and area studies.

Graduate Financial Aid Office

• [email protected]
• 203-432-2739
• 246 Church Street, 2nd Floor

The Department of Economics Announces Five Peer Mentors for 2024-2025

The Department of Economics is proud to announce an outstanding cohort of undergraduate economics Peer Mentors for 2024-2025: Elisabetta Formenton , Logan George , Cameron Greene , Kylie Kim , and Nastaran Moghimi .

This is the department’s seventh year participating in the Peer Mentor program, made up of juniors and seniors selected and trained to convey advice and information to their peers, as a way of increasing and diversifying mentoring resources within the major. Peer Mentors answer questions about what it’s like to major in Economics, what classes you may wish to take in the major, how you find a research opportunity, and so on. Learn more about the Peer Mentor program here , and meet the 2024-2025 cohort below.

Elisabetta Formenton

Elisabetta Formenton is a senior in Trumbull College from Milan, Italy, double majoring in Economics and History. She is particularly interested in financial stability, policy, and corporate finance. Throughout her time at Yale, she has been involved with research, piano, and the international community. Elisabetta can offer valuable advice on juggling multiple requirements, course selection, and research opportunities. Please feel free to reach out to her with any questions!

[email protected] Class of 2025 Trumbull College

Logan George

Logan George is a senior in Saybrook College and is originally from Houston, TX. She is an Economics major and is interested in studying financial crises and how to improve tools for crisis response and prevention. Over her summers, she has worked as a bank examiner for the FDIC and as an intern in the House of Representatives. Outside of her coursework, Logan serves as President of Saybrook College Council, runs an affinity group for mixed-race students, works as a research assistant for a housing and financial stability project, and tutors for the Economics department. She is excited to be a peer mentor and is happy to answer any questions about the Economics major or student life at Yale!

[email protected] Class of 2025 Saybrook College

Cameron Greene

Cameron Greene is a senior in Branford College originally from New Jersey. He is an Economics major with specific interests in labor economics and public economics. He has worked as a research intern at multiple government institutions in Washington DC, and as a research assistant at Harvard Business School and across various departments at Yale University. Outside of economics, Cameron is a graduate of Directed Studies and is interested in politics and Russian studies. Please reach out to him with any questions!

[email protected] Class of 2025 Branford College

Kylie Kim is a junior in Silliman College, originally from NYC where she was born and raised. She is double majoring in Classics and Economics, and she has pursued research in both fields during the school year and over the summer. Within the realm of economics, Kylie is especially interested in healthcare and health policy. In her free time, she loves playing squash with her teammates on Yale’s Club Squash team. Please feel free to reach out with any questions about studying economics, exploring research, or generally taking advantage of your time at Yale!

[email protected] Class of 2026 Silliman College

Nastaran Moghimi

Nastaran Moghimi is a Senior in Benjamin Franklin College. She is from Rockville, MD, but spent her childhood living in Iran, Germany, and Oregon. Nastaran is an economics major, with specific interests in clean energy, sustainability, and the law. She has explored economics through research, coursework, industry, and policy and is happy to answer questions about any of these avenues. Outside of economics, Nastaran is interested in math, philosophy, Iranian history and poetry, and foreign policy. This is Nastaran's second year as a Peer Mentor. Please feel free to reach out to her with any questions. 

[email protected] Class of 2025 Benjamin Franklin College

Applications are open to become an ISM student

Tuition and financial aid.

Learn about all the financial aspects of studying at the ISM, including the full-tuition scholarships offered to admitted students.

In 2024–2025, tuition for full-time students is as follows: 

• School of Music and the Institute will be $36,800. 
• Divinity School and the Institute will be $28,810. 

Other special fees may be assessed, depending on program (orientation, commencement, board, and activity fees, etc.). Further information is available from the Financial Aid Office.

Full-tuition scholarships are available to ISM students. The amount is based on tuition established by the two affiliated schools. 

Financial Aid

Full-tuition scholarships are available to ISM students to support fulfillment of their degree requirements. Additional annual merit awards of $4,000-12,000 are available to eligible ISM students. Depending on the resources of the Institute, these scholarships and awards are renewable for students who remain in good academic standing. These scholarships and awards require no application or service to the Institute.

By the beginning of their final term, students must have completed all ISM curricular requirements or be enrolled in the remaining required courses. Failure to do so will result in termination of all ISM financial aid in the final term.

Requirements for Financial Aid

Satisfactory academic progress (sap).

Federal regulations mandate that an institution establish a reasonable SAP policy for determining whether an otherwise eligible student is making satisfactory academic progress in his or her educational program and may receive assistance under the Title IV, HEA programs, and institutional financial aid (referred to as financial aid).

The time limits for the degree programs pursued by ISM students are published in the bulletins of the respective schools. Student grades are reviewed each term to determine whether each student is making SAP. Failure to make SAP may affect the continuing of ISM financial aid.

U.S. Citizens and Permanent Residents

U.S. citizens and permanent residents may also apply for federal loans and work-study, which are awarded on the basis of need as determined by federal methodology. The Institute of Sacred Music participates in the Federal Direct Loan program. To apply for a federal student loan or federal work study, students must complete the FAFSA (Free Application for Federal Student Aid).

A Federal Direct Student Loan is available as an unsubsidized loan only for graduate and professional students. Loan fees may change based on funding uncertainty at the federal level. The maximum the student can borrow through a Federal Direct Unsubsidized Loan is $20,500. The student bears the responsibility for interest on the unsubsidized loan, which may be paid as it accrues or capitalized (added to principal). Additional eligibility requirements: (1) the student must be enrolled at least half-time; (2) he or she must maintain satisfactory academic progress; and (3) he or she cannot be in default on a federal student loan.

A Federal Direct Graduate PLUS Loan is for students who need to borrow more than the maximum unsubsidized loan amount, not to exceed the cost of education. Loan fees may change based on funding uncertainty at the federal level. The interest, which accrues while the student is in school, may either be paid monthly or capitalized. Additional eligibility requirements: (1) the student must not be in default on any federal education loans or owe an overpayment on a federal education loan or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the Federal Student Aid programs; and (2) the student must not have an adverse credit history, as determined by a credit check.

Updated information about current interest rates and origination fees can be found at  http://www.yale.edu/sfas/finaid/graduate-and-professional-students/gradstudentloaninfo.html .

An application must be made each year to renew the Federal Direct Loan. Laws governing these loans are under frequent review by the U.S. Congress. Applicants should be aware that awards might need to be revised if major change is mandated by government regulations.

Federal eligibility may also be reviewed during the academic year if a student’s financial circumstances change substantially; additional scholarship or award support from the ISM is not available. Students must notify the Financial Aid Office of all additional awards or sources of support, such as that received from denominational agencies, outside grants and scholarships, and parental contributions.

International Students

International students also receive full-tuition scholarship awards and may be eligible for merit awards through the Institute of Sacred Music. No application is needed, nor is service to the Institute required to receive the scholarship or award. International students are not eligible to participate in U.S. government-funded loan programs unless they are permanent residents; therefore, every effort should be made to obtain financial assistance from the applicant’s government. Such assistance should be reported to the Institute’s Financial Aid Office. The Institute cannot subsidize transportation to and from the United States.

For detailed information about all aspects of financial aid, please contact the Ben Geertz  in the Financial Aid Office.

Financial Aid Links

Useful links that will help you finance and pay of your ISM education

• Yale Financial Aid Arrow Up Right (link is external)
• Yale Student Financial Account Services Arrow Up Right (link is external)
• Federal Student Aid Arrow Up Right (link is external)

Yale Institute of Sacred Music is a professional environment and, as such, encourages professional work. For example, Institute students are hired as musicians or in other areas of ministry in Yale’s chapels or area churches. Part-time positions abound in the libraries, dining halls, and various offices of the University. Nonetheless, the Institute does not encourage students to pursue outside work at the expense of their obligations to the Institute or their respective Schools. Students generally work between ten and fifteen hours a week (not to exceed nineteen hours per week). The Institute demands that students prepare for classes and rehearsals, attend them, and participate fully in the life of the Institute. Students shall submit requests to work outside the Institute (both for pay and not for pay) to their adviser with sufficient time to be reviewed by the director. This requirement includes any work in performances on and off campus. Forms can be obtained from the Office of Student Affairs.

Scholarships and Awards

Named scholarships.

The named scholarships are part of the Institute’s pool of resources. They honor students of exceptional promise and achievement in their field of study. The overall amount of the named scholar’s financial assistance is not affected. The Porter, MacLean, and Seder scholarships had their beginnings at the School of Sacred Music at Union Theological Seminary and were transferred to the Institute of Sacred Music upon its move to Yale University.

The Mary Baker Scholarship  The Mary Baker Scholarship in organ accompanying was established in 2005 to honor the memory of Mary Baker, wife of Dr. Robert Baker, founding director of the Yale Institute of Sacred Music. The scholarship is awarded each year to a returning organ student who has demonstrated in the opinion of the faculty the ability and collaborative spirit necessary for a skilled organ accompanist.

The Robert Baker Scholarship  Robert Baker is the former director and dean of the School of Sacred Music at Union and the first director of the Yale Institute of Sacred Music. This scholarship is for an organ student completing his or her first year. The scholarship was established at Dr. Baker’s retirement.

The Reverend Louise H. MacLean Scholarship  An ordained minister of the United Church of Christ, the Rev. Louise H. MacLean was a graduate of Union Seminary who admired the work of the School of Sacred Music at that institution. The scholarship is to be used for the benefit of worthy students.

The Menil Scholarship  A scholarship designated for a student concentrating in the visual arts. Monies are given by the Menil Foundation.

The Hugh Porter Scholarship  Director (1945–60), Union Seminary School of Sacred Music, Hugh Porter was a distinguished organ recitalist and organist at St. Nicholas Collegiate Church in New York and a highly respected teacher. This scholarship is undesignated.

The E. Stanley Seder Scholarship  Organist and choir director at People’s Church in Chicago, E. Stanley Seder also served as organist of the Chicago Sunday Evening Club, which met in Orchestra Hall. This scholarship is undesignated.

Higher Education Emergency Relief Fund (HEERF) Grants

Yale was awarded $4.7 million from the second round of awards from the Higher Education Emergency Relief Fund (HEERF II) grants. Yale will award all of the $4.7 million, including the share that could have been applied to institutional expenses, as emergency grants to Yale students with exceptional financial need. More information about these grants can be found at heerfgrant.yale.edu .

HEERF II Appeals Process Now Open

Those students who did not receive a HEERF II grant in the first round may now appeal that decision. Students must have been enrolled in at least one semester in the 2020–2021 academic year, have received some form of financial aid (scholarship, grant, loan, or job) in the 2020–2021 academic year, and must have COVID-19 related expenses that were not covered by other forms of financial aid. In order to start the appeals process, students need to contact their school’s financial aid office. The student’s financial aid officer will determine if they are eligible to appeal and will enable them to complete the online appeals application. Final eligibility determinations will be made by the HEERF Working Group. Appeals will be reviewed in the order they are received. HEERF II appeal funds are limited and completing an application for an appeal does not guarantee the receipt of funding. The deadline for submitting an appeal is July 22, 2021.

Special Awards for Music Students

The named awards will be given to first-year music students in addition to the usual scholarship awards, and will be renewable for a second year if progress is satisfactory.

The Baker Award  Named in honor of Professor Emeritus Robert Baker, the award is given to one or more students deemed to be among the top 1 or 2 percent of the young organists in the country and who have elected to study at the Yale School of Music and the Institute of Sacred Music.

The French Award  The award, named in honor of Professor Richard French, is given to one or more choral conducting students, deemed among the best in the country, who attend the Yale School of Music and the Institute of Sacred Music.

Fifth Semester for Church Music Certificate Course

Participants enroll as nondegree students for the fifth semester at the Yale Divinity School and receive a full-tuition scholarship. However, they are not eligible for Federal Direct or Graduate PLUS loans. They are eligible for alternative loans. Nondegree students are not eligible for deferral of loans. International students may need to apply for an extension of their student visas.

Special Awards for Divinity Students

Special awards are also available for Divinity students selected by the faculty. The Institute is especially interested in students who demonstrate a lively interest in cross-disciplinary interaction and study.

Special Support for Students

The Institute of Sacred Music may provide limited financial support in the form of grants for student participation in competitions, professional events, summer language study, and Colloquium presentation expenses. Interested students should first consult the ISM Office of Student Affairs to ascertain the specific grants for which they are eligible. All requests must be made in advance, using the ISM Student Grant Request form, and approved by the faculty and director of the Institute. Guidelines for support may be obtained from the financial aid officer.

The Institute also underwrites the Yale Schola Cantorum, whose members receive payment for participation except if receiving academic credit for participation. Link to Performing Ensembles

Leave of Absence

For the policies regarding leaves of absence, including the U.S. military leave readmissions policy, Institute students should consult the bulletin of the professional School, Music or Divinity, in which they are enrolled, as well as the Director of the Institute.

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General Staff Building

This spectacular, crescent-shaped neoclassical building, most famous for its central triumphal arch, which brings pedestrians out on to Palace Square from Nevsky Prospekt, was designed by renowned St. Petersburg architect Carlo Rossi and completed in 1829. Before the Revolution it housed not only the offices of the General Staff, in the East Wing, but also the Tsarist Foreign Ministry and Ministry of Finance in the West Wing. Now, it is home to one of the most celebrated and popular parts of the Hermitage's collection - the art of the impressionists and post-impressionists.

Constructed between 1819 and 1829, the General Staff Building is recognised as one of the best examples of Empire-style architecture in Russia. The curving facade of the building stretches to almost 600 metres and stands four storeys high. The west and east wings are joined by a tripartite which is crowned with a sculpture of the Goddess of Glory in her Chariot of Victory. The sculpture by Stepan Pimenov and Vasily Demuth-Malinovsky is to commemorate the Russian victory over Napoleonic France in the Patriotic War of 1812. You can read more about the history of the building here .

The Hermitage took possession of the east wing of the building in 1993 and it was later decided to house the museum's collections of 19th and 20th century art there. Work on renovating and adapting the building to fit the purpose was finished in 2014. The work was by the renowned Studio 44 Architectural Studio of St. Petersburg. Inside the building uses a system of enfilades (a suite of rooms with doorways in line with each other) to tie the exhibition spaces together. The main enfilade is monumental in scale, beginning in the Grand Entrance and running through the central Grand Enfilade of atrium-shaped inner courts in which there are sculpture gardens.

The museum's second floor houses a permanent display, The Age of Art Nouveau, an amazing collection of gifts to the tsars, and a themed exhibition about the Ministry of Finance of the Russian Empire, once situated in the building.

On the third floor are to be found three exhibitions: Under the Sign of the Eagle - The Art of Empire, which offers a comparison of French and Russian decorative art and costume of the age; French Painting and Sculpture of the 19th Century; Western European Art of the 19th Century (from Germany, Holland, Belgium) and the 18th century Russian Guards Museum. Also included on the third floor is a display which follows the history of the Ministry of Foreign Affairs of the Russian Empire, which also used to be an occupant of this part of the General Staff Building.

The fourth floor of the General Staff Building is given over to works of the Impressionist and Post-impressionists. This collection, though controversial in its origins - the majority of works were seized from territories occupied by the Red Army during and after the Second World War, and their presence in the Hermitage vaults was only officially aknowledged in 1995 - is nonetheless one of the Hermitage's biggest draws and, unlike parts of the collections from earlier periods, is of remarkably consistent quality. There is also a collection of pre-Revolutionary Russian art which includes works by Vasiliy Kandinskiy and Kazimir Malevich.

Accommodation near the General Staff Building

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• 1,302 sqft 1,302 square feet
• 5,715 sqft lot 5,715 square foot lot

Single Family

$130K in 2012

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