UK higher education policy relating to doctoral-level education assumes that student networks provide the basis for informal learning and the acquisition of necessary skills and information. Through semi-structured interviews with 17 doctoral students from a UK management school, this study investigated the value of these networks to students, the facilitators and barriers to network formation, and the causes of network formation and demise. Networks provided three opportunities: academic discussion, benchmarking progress and personal support. Networking was perceived to be most valuable when conducted face to face. Loss of formal structures and increasing independence of research projects over time contributed to network fragmentation. Network cohesion was enabled by "physical presence", "shared experience" and a sense of "common purpose". Suggestions for the development of structures to support cohesive doctoral networks are made.