Ph.D. alongside your job: how to finance your part-time doctorate

For many specialists and managers, a part-time doctorate is the next logical step on their career path. But there is one question that many people ask themselves in the beginning: how am I going to finance it? The good news is that there are numerous ways to finance your doctorate alongside your job, from employer support and scholarships to tax benefits. In this article, we show you how to take a structured approach to financing your part-time doctorate and which options really work.

What does a part-time doctorate really cost?

Before you think about financing, you should know what expenses you may incur. Here you will find an overview of typical cost areas that you should plan for.

• Tuition and administration fees: In the DACH region, the average total costs for private part-time doctorates range between around €24,000 (Germany), €28,500 (Austria) and €34,000 (Switzerland), as shown in Figure 1. At GoVersity, for example, a doctorate is possible from as little as €23,050.
• Specialist literature and software: Depending on the subject area and individual requirements, between €200 and €500 can be spent annually on books, specialist journals, licenses or specialized software.
• Travel and accommodation: Depending on the country in which the partner university is located, how expensive the destination country is in general (e.g. for accommodation, meals, travel) and how often personal appointments such as colloquia, conferences or research meetings take place, you should expect to pay around €300 to €1,200 per trip, depending on the program. In the case of programs that are predominantly remote, there are often only low travel costs, sometimes only a final trip to defend the dissertation is required.
  
  Tip: Feel free to contact us if you are specifically looking for a program that can be carried out remotely, we will be happy to advise you.
  
• Technology and equipment: Depending on individual requirements and subject area; one-off expenses of €500 to €2,000 may be incurred for laptop, subject-specific tools and database access.

Tip: Create a financial plan early on, this will take away the fear of “unforeseen costs” and help you stay realistic. Find out how to create a financial plan for your promotion below , including a practical download template for your planning!

Funding options for a doctorate alongside your job

There are many ways to finance your doctorate. Figures from the Federal Report on Early Career Researchers 2021 (see Figure 2) show that 61% of all doctoral students finance their doctorate through an academic position, 18% through jobs outside the university, 17% through scholarships and 14% through family support, while loans and reserves only play a minor role with less than five percent each (BuWiN 2021, p. 117)

The chart shows: The majority of doctoral students finance their doctorate through an academic position at the university or a research institute and around 40% use other or additional sources, from scholarships and non-university jobs to family support.

But beware: although an academic position at the university is the most common and often the cheapest form of funding, fixed-term part-time contracts and a “quasi-full-time workload” from teaching and third-party funded projects often leave little room for the dissertation, while publication credits usually end up with the chair. If you opt for an external doctorate instead , i.e. you stay in your profession and write your doctoral thesis without a university position, you often come up against closed doors: many professors primarily supervise their internal team. Access to infrastructure and individual support remains limited and, because the contribution to the chair seems small, the commitment of supervisors is often low: A mix that leads to longer doctoral periods and higher drop-out rates in addition to job, family and free time.

Many doctoral candidates therefore opt for the part-time route, which pragmatically combines research and career. In the next section, you will find out what options there are specifically for funding a part-time doctorate and how you can put together the best funding mix for you:

1. Employer as a supporter of your academic development

Your current employer can be an important supporter of your doctorate, both financially and in terms of time. Especially if your research topic is related to the company, it is worth talking to them.

• Partial leave or reduced working hours: If you temporarily reduce your working hours, you can concentrate better on your research. Agree on clear goals and arrangements.
• Subsidizing tuition fees: Some companies cover part or even all of the fees, often in conjunction with a contractual commitment after graduation.
• Assumption of costs for specialist literature or conferences: These costs can often be easily covered via the training budget.
• Educational leave: In some federal states, you are entitled to up to 5 days of paid educational leave per year. This can also be used for promotional purposes.

Tip for the interview: Prepare a short concept that shows how your topic can benefit the company. Show that you are motivated and work independently.
We have created a practical interview guide for you, which you can use to prepare perfectly for this interview! Download the interview guide here.

2. Scholarships for part-time doctoral students

Many people think of scholarships as being for full-time students, but there are actually programs that specifically support working people. Here you will find an overview of possible scholarship sources.

• organizations for the promotion of gifted students (e.g. the Hans Böckler Foundation for trade union members or the Foundation of German Business)
• Foundations from business associations or companies: e.g. the doctoral scholarship from the Family Business Foundation
• Studienstiftung des deutschen Volkes: Also for international doctoral projects. You can find more information here.

Important: The application procedures are often complex, but well structured. You usually need an exposé, a timetable, expert reports and a convincing justification. The effort is worth it, as many programs provide funding of several hundred euros per month over several years. Sounds overwhelming? You are not alone! If required, we will be happy to help you with the preparation of the exposé and your application, just talk to us.

3. Make the right use of the tax advantages of a doctorate

If you start a part-time doctorate, you can claim many of the costs incurred against tax. To do this successfully, you should be aware of a few principles.

• Work-related expenses (for professional purposes): Tuition fees, specialist literature, travel costs, technical equipment, travel costs to the supervisor or university
• Special expenses (for first-time graduates): Only deductible to a limited extent, e.g. for a purely academic first doctorate

Tip: Emphasize your professional background, for example if your topic is related to your current field of work. Keep all receipts collected, numbered and digitized. Use special tax apps or simply talk to your tax advisor to make the most of your options.

4. Educational and promotional loans

Sometimes a loan is the only realistic option to cover your doctoral costs. This doesn’t have to be a disadvantage, provided you take a structured approach.

• Financing through an income-dependent repayment model (e.g. reverse generation contract): With this model, you only pay back the tuition costs after graduation and only if you have sufficient income.
• Private education loans (e.g. Deutsche Bank, savings banks): Higher amounts possible, but be sure to pay attention to interest rates, repayment conditions and collateral

Important: When taking out a promotional loan, make sure that you choose a reputable provider and compare the conditions so that you find the best offer for you.

You can do this, for example, with the SMAVA portal: you can use SMAVA to easily compare different education loans and apply directly online: transparently, quickly and accurately. Click here for the loan comparison.

5. Self-financing with a system

Not everyone relies on external funding and, with the right planning, you can also finance your doctorate entirely from your own resources. This is the best way to go about it:

• Monthly savings model: Set aside fixed amounts, preferably automatically (e.g. by standing order to a savings account)
• Timeline with milestones: plan when major costs will be incurred (e.g. travel, printing costs, thesis submission)
• Combined strategies: For example, you can save for a while, then apply for scholarships and use a small loan if needed
• Tools: Use our Excel template or general financial planning apps for your promotion planning

Download our Excel template for financial planning here: Download Excel template here

Create your financing plan step by step

Now that you know the individual options, it’s time to develop a concrete plan. Here we show you how to proceed systematically.

1. Determine costs: Tuition fees, literature, travel, technology, calculate realistically
2. Analyze your income: What is available to you each month? What reserves do you have?
3. Research funding opportunities: Which options suit your situation?
4. Run through scenarios: What happens in the event of delays or failures?
5. Define the financing mix: Combine several sources sensibly

Important: Plan a “buffer” for unforeseen events to give you mental security and protect you from stress.

Tip: Use the Excel template above and work your way through your financing systematically with the help of these five steps. This gives you an overview of everything, from tuition fees to funding options, and allows you to realistically run through various scenarios.

5 typical financing traps and how to avoid them

Now that you have a good overview of all funding options and financial planning, it’s worth taking a final look at typical mistakes when it comes to doctoral funding and how to avoid them.

• Financing should only be based on one pillar: If you rely exclusively on your own funds, you are taking high risks. → Tip: A mix of personal contributions, subsidies, tax benefits and possibly a loan is more stable.
• No early planning: If you only realize in the middle of the promotion that money is running out, you will quickly come under pressure. → Tip: Draw up a financial plan before you start, we have provided you with a template to download and the necessary steps above!
• Expectations of the employer are too high: Not all companies automatically provide funding; you need to actively communicate the added value of your project. → Tip: Prepare arguments and a pitch, see interview guide for download above.
• Scholarships are not on the radar: Many believe they are not eligible for funding. → Tip: Find out specifically about programs for professionals.
• Not taking advantage of tax benefits: Potentially deductible costs are lost every year. → Tip: Collect receipts & seek advice.

Good planning is half the battle!

Financing a part-time doctorate is feasible if you make a realistic plan and use the available options. Whether through your employer, a scholarship, tax benefits or a wisely chosen loan: there are many ways to complete your doctorate alongside your job.

Would you like to find out more about how you can realistically plan and finance your part-time doctorate? At GoVersity, we are on hand to advise you right from the orientation phase, including questions about financing.

👉 Register now for our Doctoral Lounge and find out how we can support you right from the start: Click here to register

A part-time doctorate in just 36 months, with 360° support and maximum flexibility!