Doctorate in Finance

About Course

Ph.D. (Finance) Courses, Eligibility, Admissions, Syllabus, Career Options, Frequently asked Questions.

Overview and About the Course:

Doctor of Philosophy in Finance, or PhD Finance, is a specialty that focuses on the structure in the field of finance and spreads new ideas, rules, and facts to advance finance. The PhD programme includes the course.

Numerous prestigious Indian institutions and universities offer a PhD in Finance programme. It is a research-focused course that gives students the skills to do meaningful research in their chosen disciplines and a greater grasp of financial principles. The course can be extended up to a maximum of five years, but it must be finished within three years.

The assessment of financial products, issues related to international finance, unpredictability in the economy, and general trade mechanics are covered in the Finance course. This course is best suited for students who desire to undertake financial research and who are rational, analytical, and well-organized.

A three to five-year doctorate programme in finance is known as a Ph.D. in finance. Candidates must obtain a bachelor's degree in finance from an accredited university or have completed a postgraduate study in finance to be eligible for the course. PhD refers to a doctorate degree with an academic focus. Students in a Ph.D. programme are required to select a topic and undertake in-depth research on it. Generally speaking, a finance course will concentrate on topics like international finance, economic uncertainty, and trade mechanisms.

•    Those who want to apply for admission to the programme must have managerial, leadership, logical, and analytical abilities.

•    A PhD in Finance is a research-focused programme that prepares students for advanced academic and research careers in economics and finance.

•    Accounting, economics, financial management, and other related topics are all studied in finance.

•    A PhD in Finance is a research-based programme designed specifically for academic or research-based careers.

•    Currently pursuing a PhD in finance receive training in subjects such corporate finance theory, investments, and statistics.

•    In their course curriculum, the students also get the opportunity to investigate various financial markets and products.

Numerous prestigious institutions or Universities in India provide the doctoral programme known as Doctor of Philosophy in Finance, or simply PhD in Finance. It is a research-oriented course that gives applicants a better understanding of financial concepts and equips them to do research in related areas.

The course can be completed in as little as three years, but no less than five years may be added.

Someone should pass one of the admission exams administered at the national and university levels, followed by numerous rounds of interviews, in order to pursue a PhD in finance. Additionally, the candidates must successfully complete their pertinent master's degree with a minimum overall score of 55% or above. UGC NET, GATE, NMIMS, and other prominent entrance exams are used to admit students to PhD in Finance programmes. The typical course cost is between INR 1 lakhs to 5 lakhs.
Course Highlight of the course, Ph.D. in Finance:

Why to do the course, Ph.D. in Finance?

A Doctorate in Finance programme can open up a variety of job options for you and pave the way for a successful future. This degree is a requirement for anybody looking for employment in the academic field such as professor or research fellow at a business school.

The following are some of the key justifications for choosing to pursue a PhD in finance:

•    After completing the course, the students have the option of pursuing a career in academia or industry. Both professional paths are equally lucrative. They can choose to pursue a career as a professor, lecturer, or associate professor in the academic setting. They have the choice to pursue a career as an investment banker, market research analyst, etc. in the industrial sector.

•    The majority of PhD finance graduates work in academia, which offers tenure and career security. They are typically employed for top-level roles in the industrial sector, mostly as consultants, which are seen to be more stable and have lower turnover rates.

•    Applicants who already have earned a PhD in finance have the option of starting their own business. Many public and private institutions provide the opportunity for candidates to pursue a career as a part-time lecturer. Additionally, they can start their own firm and offer advice to other people or businesses.

•    Graduates with a PhD in finance often get between INR 3 to 8 LPA. In addition to this, the candidates receive bonuses and other advantages including DA, Provident Funds, Travel Expenses, and health insurance.

•    People who pursue a PhD in finance or economics are more likely to understand today's financial issues effectively and work to fix them.

•    It aids the student's knowledge of numerous crucial financial subjects. A component of the course curriculum is learning methods for organising money completely in banks and enterprises.

Eligibility Criteria for Ph.D. in Finance:

Candidates for a PhD in finance must meet the following requirements in order to be eligible:

•    The PhD in Finance Course accepts applications from candidates from the MBA Finance Stream as well.

•    The student must complete his or her post-graduate studies at an accredited university in subjects like accounting, economics, or mathematics.

•    There is no maximum age for admission to the PhD programme.

•    Additionally, the student must have earned at least a 55% in their post-graduation course. Candidates who are SC/ST/OBC/PwD receive a 5% mark reduction.

Skills Required for Ph.D. in Finance:

In order to understand theories and enhance their academic experience, those interested in obtaining a PhD in finance should have a varied skill set. These abilities are also required for a fulfilling career and future employment. A PhD in finance can help people expand their knowledge and skills.

•    Active learning 
•    Critical thinking 
•    Decision-making skills 
•    Communication skills 
•    Leadership 
•    Attention to detail 
•    Organising skills 
•    Patience 
•    Numerical ability

Admission Process for Ph.D. in Finance:

Students are admitted to PhD programmes in finance based on their performance on the admission exam and during the personal interview. The candidates must appear for the admission process, which consists of a written entrance exam and a personal interview, even though it differs for PhD in Finance admission at most universities.

Let's talk about the application process in greater detail so that you can understand it better.

•    The applicants must go to the entrance exam authorities' website, register using an email address or phone number, and create a login ID.

•    The students who wish to pursue a PhD in finance must complete the application forms for the appropriate institutions. Online application forms are available for filling out. The candidates must supply the essential academic information as well as the specifics of their selected entrance exam cities.

•    Candidates must upload the different documents in their preferred size and format. The applicants must next pay the application fees and print out a receipt for their records.

•    applicants have to show up for the admission exam. Each university administers its own admissions examinations. The students are invited for the interview based on how well they did on the admission exam.

•    The chosen students are invited for an interview after the admission exam results are announced. The interview may include several rounds. The applicants must present their theses as well as the research areas they will focus on throughout their PhD studies.

•    Students that succeed in the interview will be contacted for the next step in the admissions process and given permission to enrol in the relevant university.

Entrance exams for Ph.D. in Finance:

In India, the majority of universities that offer PhD programmes in finance provide an admission exam to prospective candidates. Only those who pass the entrance exam are thereafter requested to show up for an interview.

The majority of colleges give admittance into the programme through the GATE Entrance examination and UGC NET, despite the fact that a large number of schools in India offer admission into PhD programmes through their own selection assessments. The following are a few frequently taken admission exams for the PhD in Finance programme:

NET UGC:

Twice a year, the National Eligibility Test (NET) is given. There are 84 subjects covered by the test. 

JNU PhD: 

The PhD candidates are admitted to Jawaharlal Nehru University based on their admission exam scores. June is the month that the exam is given.

GTU PhD:

For the admission of PhD candidates, Gujarat Technological University (GTU) holds an entrance exam. The test is held in August, and applications may be submitted up to July.

RMAT:

Research Management Aptitude Test results are used by AIMA and Aligarh Muslim University to determine which PhD candidates are accepted. The exam will be held at the end of June this year, per AIMA's decision.

Tips to prepare for the entrance exam of Ph.D. in Finance:

A applicant must adequately prepare for the exam in order to perform well on the admission test. Since a PhD is the highest degree that may be attested to, candidates may require specialised educational preparation to pass the exam.

•    You must bear the following things in mind while you study for the exam.

•    Try to determine the relative importance of the various subjects and create a schedule that reflects that.

•    Study each of the important subjects listed on the syllabus.

•    Once you have finished the curriculum, don't forget to practise lots of questions.

•    Consider practising the questions from prior years.

•    Participate in the online mock exams. Try to utilise the internet to learn about the many time-saving techniques for the entrance exam.

Tips to get admission in the college for Ph.D. in Finance:

It's not easy to get accepted to a top institution, so applicants should start preparing well in advance. So, in order to be admitted to a reputable institution, you must keep the following in mind:

•    You must be well-prepared for an interview round if your college has one.

•    You must have received a postgraduate degree with a passable grade. A minimum score of 55% is required.

•    The kinds of interview questions that are usually asked must be well known to you.

•    Your prospects of being accepted into a reputable institution will rise with a very strong entrance exam performance.

Top 10 Colleges for the course, Ph.D. in Finance:

Check out the list of top colleges with location for the course Ph.D. in Finance. 

Syllabus to study for the course, Ph.D. in Finance:

Check out the topics below to be study in the duration of the course Ph.D. in Finance. 

Business Economics

•    Nature and Uses of Business Economics
•    Laws of Variable Proportion
•    Laws of Returns
•    Demand Analysis
•    Concept of Profit and Wealth Maximization
•    Sampling Errors
•    Utility analysis
•    Price determination in different Market Situations
•    Elasticity of Demand

Business Management

•    Planning Process
•    Organizational Culture and Structure
•    Organizing
•    Decision Making
•    Business Ethics and Corporate Governance
•    Staffing
•    Principles of Management
•    Leadership and Control

Financial Management

•    Dividend Policy
•    Cost of capital; Capital Budgeting
•    Capital Structure
•    Working Capital Management
•    Financial and Operating Leverage

Business Environment

•    Legal Environment of Business in India
•    Industrial Policy
•    Industrial Growth and Structural Changes
•    Second Generation reforms
•    Privatization and Globalization
•    Consumer Protection
•    Competition Policy
•    Planning Policy
•    Meaning and definition of Business Environment
•    Liberalization
•    Environment protection
•    Economic Policy

Banking and Financial Institution

•    NABARD and Rural Banking
•    Importance of Banking to Business
•    Types of Banks
•    Development of Banking
•    Banking Sector Reforms in India
•    Reserve Bank of India
•    E-Banking

Financial and Management Accounting

•    Liquidation
•    Financial Statements
•    Cost and Management Accounting
•    Responsibility Accounting
•    Ratio Analysis
•    Partnership Accounts
•    Capital and Revenue
•    Basic Accounting Concept
•    Advanced Company Accounts
•    Valuation of Shares

Business Statistics and Data Processing

•    Data Collection and Analysis
•    Correlation and Regression
•    Computer Application to Functional Area
•    Analysis and Interpretation of data
•    Data types
•    Data Processing

Marketing Management

•    Marketing Environment
•    Evolution of Marketing
•    Concepts of Marketing
•    Marketing Planning
•    Marketing Mix
•    Product decision
•    Pricing, Distribution and Promotion

Human Resource Management

•    HR Planning
•    Compensation
•    Performance Appraisal
•    Industrial Relations
•    Training and Development
•    Succession Planning
•    Role and Functions of HRM
•    Recruitment and Selection

Job Prospects and career after Ph.D. in Finance:

Business-minded and typically seeking a more prestigious job, finance PhD candidates. Jobs at different financial institutions are another possibility.

Statistician, stockbroker, finance manager, and other well-known job descriptions are only a few examples. Their yearly salary range from INR 4 LPA to INR 8 LPA on average.

Job Profiles for Ph.D. in Finance:

Statistician:

focuses on both academic and practical statistics.
Relationship Coordinator

Stockbroker:

Buying stocks and selling them via the stock market to diverse individual and institutional consumers.

Relationship Manager:

A relationship manager tries to keep excellent ties with clients and other rivals.

Financial Directors:

maintains the financial well-being of the businesses they work for and develops financial strategies and reports.

Adjunct professor:

teaching junior-level (UG, PG, MBA) finance courses to students.

Senior lecturer:

Researching "financial issues" of society and instructing pupils are typical tasks.

Top Recruiters after completing the course Ph.D. in Finance:

•    Deloitte

•    Google

•    Boeing

•    TCS

•    Cognizant

•    Ernst & Young

•    Delhi University

•    Jamia Millia Islamia University

•    Jadavpur University, Kolkata

•    Banaras Hindu University, Varanasi

•    Jawaharlal Nehru University

Benefits after the course, Pd.D. in Finance:

•    Professionals in specific disciplines, including science and finance, should anticipate earning significantly more than master's and bachelor's graduates. People who hold a Ph.D. may have a better chance of developing in their careers and making a decent pay.

•    It goes without saying that earning a Ph.D. involves a significant commitment of time and effort. Although Ph.D. students may have financial difficulties while obtaining their degree, a degree in finance pays out in the form of future career. Ph.D.

•    Applicants with at least a master's degree are preferred by most employers, and those with a PhD will stand out from those with only a master's.

Scope after doing Pd.D. in Finance:

Students pursuing a Ph.D. in finance may search for employment in both the public and private sectors, including accountancy firms and the banking industry. After completing the PhD in Finance programme, students may pursue careers in research, accept positions at various research facilities, or teach at various schools and institutions. Several well-liked divisions include:

•    Market analysis.

•    Public accounting companies.

•    Setting a budget.

•    Both the public and private sectors.

•    Companies and consulting firms.

Frequently asked Question:

Question. What qualifications are there for a PhD in finance?

Answer. A minimum of 55% in post-graduate courses in subjects like accounting, economics, or mathematics is required in order to be eligible to enrol in the programme.

Question. Which PhD program—Finance or Economics—is superior?

Answer. Both courses have very separate course curricula, but if you do well in both, you can succeed in both equally.

Question. Are there any opportunities for PhD students in finance to work for the government?

Answer. You may search for employment in a variety of government areas, yes. Government banks also hire PhD candidates in finance.
Question. What are the most sought-after career roles for PhD candidates in finance?

Answer. Senior Lecturer, Money manager, Mathematician, Relationship Manager, CFA, and Financial Manager are popular career paths for PhD finance students.