Applications are now being accepted for 2023 PhD Fellowships.

The Future of STEM

We are dedicated to building programing that supports the future leaders in STEM and improves representation across gender, race, and ethnicity.

PhD Fellowship

Two Sigma's PhD Fellowship is open to all doctoral students who are expanding frontiers in a STEM field such as statistics, applied mathematics, computer science, and physics.

Apply now : Apply now

Diversity PhD Fellowship

Two Sigma's Diversity PhD Fellowship is open to doctoral students from historically underrepresented groups who are expanding frontiers in STEM.

Apply now : Apply now

Partnered Fellowship

We offer partnered fellowship opportunities to accredited universities and colleges in the United States to foster greater inclusivity in academia. We are actively seeking partnerships with institutions to establish fellowships for doctoral students who are members of historically underrepresented groups.

Learn more : Learn more

Program Details

Provisions of the Award

  • Fellowship recipients will receive an award for two consecutive academic years (not to exceed $75,000 USD per academic year) to cover tuition and fees plus a stipend for living expenses, in the form of an unrestricted gift paid directly to the university
  • Fellowship recipients will also receive a one-time award of $10,000 USD paid to the Fellowship recipient directly, which, as a condition of the fellowship, may only be used for tuition, fees required to enroll at or attend their university, and books, supplies, equipment and course-related fees for courses at their university
  • A Two Sigma Research Mentor will be assigned to the Fellowship recipient as well as opportunities to build relationships with research teams at  Two Sigma
  • Note: Provisions for Partnered Fellowships are customized based on the agreement with the specific university and department.


In order to successfully apply for a Two Sigma fellowship, applicants must be:

  • Full-time students currently pursuing a PhD at an accredited university in the United States
  • In at least their third or fourth year of a PhD program when the fellowship begins (fall semester or quarter)
  • Currently pursuing research relevant to one of the disciplines listed below:
    • Statistics
    • Computer Science
    • Physics
    • Applied Mathematics
    • Finance/Econometrics

Two Sigma employees, contractors, or consultants and their relatives are not eligible.

Students that are already supported by another industry fellowship are also not eligible.


Applications are currently being accepted for the 2023 application through November 4.

Application Materials and Process:

  • Students must be nominated by the Chair of their department or a designated doctoral faculty member.  Each chair or designated faculty member may nominate up to three eligible students from each department
  • Application materials should be submitted by a faculty or staff member from your department. The department Chair does not need to submit the application on your behalf
  • Applicants must submit a 500 word (max) research proposal, listing their main area of focus, relevance to the field, and its applicability to Two Sigma
  • Applicants must include a current version of their resume, ensuring that a current email, phone number, and mailing address are included
  • Two letters of recommendation are required for each applicant:
    • One must be from their current academic advisor
    • The other must be from a professor in the department or related department who is familiar with their research
  • After submitting your application, an email from Two Sigma will automatically be sent to your two provided referrals requesting they submit their letter of recommendation through a separate link and portal. Please notify your referrals to expect this email prior to submitting your application
  • Applicants must submit their official academic transcripts (PhD Graduate degree only, all years)
  • All nominations and application materials for the Two Sigma PhD Fellowship should be submitted by the designated faculty member or staff member electronically via the online application

Evaluation Process

In selecting a recipient, Two Sigma evaluates candidates in the following areas

Research Proposal


Letters of Recommendation

Academic Performance







Applications Open

Applications for the fellowship are currently available.

Students will be able to upload their research proposal, resume, letters of recommendation, and academic transcripts through November 4.

Applications Close

Applications will close November 4. At that time all inputted information will be considered final and no further changes will be permitted.

Finalists Interviewed

Finalists will be notified of their selection for interview in early February.

Candidates Notified

Following careful evaluation by a panel, winners will be notified of their selection in March.

Recipients Announced

Recipients will be announced on the Two Sigma website and social channels in mid-April.

PhD Fellowship Recipients

To see a full list of runners up and past recipients, click here.