Ph.D. in Finance is a 3-year doctorate level course, the minimum eligibility for which is the successful completion of post-graduation in Commerce subjects like Accountancy, Mathematics, and Economics.
Admission to the course is based on the candidate’s performance in a relevant entrance test conducted by most of the universities offering the course. Qualification of the entrance test is followed by a round of personal interview in some cases.
Such postgraduates are hired in capacities such as:
The average tuition fee charged for the course in India ranges between INR 2,000 and 5 Lacs. On the other hand, the average monthly salary offered to a fresh postgraduate of the course lies between INR 25,000 and 40,000 per month, increasing with experience and expertise.
Listed below are some of the major highlights of the course.
|Examination Type||Semester System|
|Eligibility||Post-Graduation with Commerce subjects|
|Admission Process||Based on entrance test and direct interview of the short-listed candidates.|
|Course Fee||INR 2,000 to 5 Lacs|
|Average Starting Salary||INR 4 to 8 lacs per annum|
|Top Recruiting Companies||HCL, IBM, TATA Consultancy, Adobe, Accenture, Infosys, Genpact Technologies Ltd., ICICI Bank, Vodafone, Oracle, Reliance, Hero, Bajaj, Airtel, etc.|
|Job Positions||Stockbroker, Analyst, Statistician, Relationship Manager, CFA, CA, Finance manager, Credit Control Manager, Tellers & Branch Staff, Customer Care Executive, Corporate Banking Executive, and such.|
Finance is the study of Financial Planning, Economics, Accounting and other similar areas of operation in any organization or business. It is the complete management of heavy amount of money, particularly by governments or large organizations. Students seeking a Ph.D. in Finance are trained in Statistics, Economics, Investments and Corporate Finance Theory. In this doctorate-level program, students also explore markets and financial products.
A Ph.D. in Finance is a research-driven course which leads to an advanced-level academic and research career. Ph.D. graduates act as Consultants, or perform further research, or teach as faculty members in the Finance departments of universities. Some programs may also require them to already have a Master's in Business Administration.
Listed below are some of the top institutes in India that offer the course.
|Name of Institute||City||Average Fees|
|Shailesh J. Mehta School of Management||Mumbai||INR 24,000 (course)|
|Indian Institute of Foreign Trade||New Delhi||INR 1,01,000 (course)|
|Narsee Monjee Institute of Management Studies||Mumbai||INR 57,000 (course)|
|Department of Management Studies, Indian Institute of Technology||Chennai||INR 11,871 (course)|
|Department of Management Studies IIT Delhi||New Delhi||INR 12,900 (course)|
|Indian Institute of Management||Ranchi||INR 3,90,000 (course)|
|Indian Institute of Foreign Trade (IIFT)||Kolkata||INR 1,01,000 (course)|
|Amrita School of Business||Tamil Nadu||INR 1,33,000 (course)|
|Centurion University of Technology and Management||Bhubaneswar||INR 96,667 (course)|
|Alliance School of Business, Alliance University, Bangalore||Bangalore||INR 1,43,000 (course)|
|Maulana Azad National Institute of Technology||Bhopal||INR 21,393 (course)|
|Sharda University||Greater Noida||INR 63,333 (course)|
|Birla Institute of Technology and Science||Goa||INR 2,59,000 (course)|
|Thapar Institute of Engineering and Technology University||Punjab||INR 98,900 (course)|
|Amrita Vishwa Vidyapeetham Coimbatore Campus||Tamil Nadu||INR 1,33,000 (course)|
|Amity University||Noida||INR 1,05,000 (course)|
|Babu Banarasi Das University||Lucknow||INR 1,20,000 (course)|
|Poornima University||Jaipur||INR 71,667 (course)|
|Gitam University||Visakhapatnam||INR 63,167 (course)|
|Sir Padampat Singhania University||Udaipur||INR 74,333 (course)|
|University of Rajasthan||Jaipur||INR 14,395 (course)|
|Central University of Rajasthan||Ajmer||INR 17,448 (course)|
Candidates who wish to pursue Ph.D. in Finance need to fulfill the following eligibility criteria:
Admission process for Ph.D. in Finance is different for most of the universities. Mostly, candidates need to appear for the admission process which comprises:
Written Entrance Exam.
The list of Ph.D. entrance exams conducted in the country for admission to the course, is as follows:
A unit-wise breakup of the course’s syllabus is tabulated here.
|Unit 1 – Business Environment||Unit II – Financial and Management Accounting|
|Second Generation reforms||Valuation of Shares|
|Privatization and Globalization||Responsibility Accounting|
|Planning Policy||Ratio Analysis|
|Meaning and definition of Business Environment||Partnership Accounts|
|Legal Environment of Business in India||Financial Statements|
|Industrial Policy||Cost and Management Accounting|
|Industrial Growth and Structural Changes||Capital and Revenue|
|Environment protection||Basic Accounting Concept|
|Economic Policy||Advanced Company Accounts|
|Unit III – Business Economics||Unit IV– Business Statistics and Data Processing|
|Utility analysis||Data types|
|Price determination in different Market Situations||Data Processing|
|Nature and Uses of Business Economics||Data Collection and Analysis|
|Laws of Variable Proportion||Correlation and Regression|
|Laws of Returns||Computer Application to Functional Areas|
|Elasticity of Demand||Analysis and Interpretation of data|
|Concept of Profit and Wealth Maximization||-|
|Unit V– Business Management||Unit VI– Marketing Management|
|Principles of Management||Pricing, Distribution and Promotion|
|Planning Process||Marketing Planning|
|Organizational Culture and Structure||Marketing Mix|
|Leadership and Control||Evolution of Marketing|
|Decision Making||Concepts of Marketing|
|Business Ethics and Corporate Governance||-|
|Unit VII– Financial Management||Unit VIII– Human Resource Management|
|Working Capital Management||Training and Development|
|Financial and Operating Leverage||Succession Planning|
|Dividend Policy||Role and Functions of HRM|
|Cost of capital; Capital Budgeting||Recruitment and Selection|
|Capital Structure||Performance Appraisal|
|Unit IX – Banking and Financial Institution||Industrial Relations|
|Reserve Bank of India||HR Planning|
|NABARD and Rural Banking||Compensation|
|Importance of Banking to Business||-|
|Types of Banks||-|
|Banking Sector Reforms in India||-|
Ph.D. in Finance offers a lot of career opportunities to successful postgraduates. A postgraduate, upon successful completion of the course can initially join as a trainee or an Accountant. Accountants can also seek employment in various sectors such as:
Experts in this profession can find employment across different colleges and universities. they may even work as freelancers, taking assignments from small venture for maintaining their accounts on daily or weekly basis. There are lots of job opportunities available in India as well as in foreign countries for chartered accountants.
Some of the popular professional avenues open to successful postgraduates of the course are listed below with the corresponding salaries offered for the respective positions.
|Job Position||Job Description||Average Annual Pay Scale in INR|
|Stockbroker||A Stockbroker is fundamentally connected with a brokerage firm or broker dealer. They purchase and offer stocks and differing securities for both retail and institutional customers through a stock exchange or over the counter as a symptom of a cost or commission.||3,25,000|
A Statistician is someone who works with theoretical or applied statistics. The profession exists in both private and public sectors.
It is common to combine statistical knowledge with expertise in other subjects, and statisticians may work as employees or as statistical consultants.
|Relationship Manager||A Relationship Manager is someone who attempts to enhance a firm's relationships with both partner firms and clients. Their duties include building and maintaining relationships with clients and key personnel within customer companies.||5,95,478|
|CFA||A CFA works for businesses or individuals, providing their clients an analysis on companies, stocks, and investments. A certified CFA advises businesses and individuals regarding investment decisions.||1,157,000|
|Financial Managers||Financial Managers are responsible for the financial health of an organization. They create direct investment activities, financial reports, and systems and plans for the long term financial goals of their organization.||9,56,578|