Ph.D. (Finance) - Course Overview




    3 YEARS





    Doctor of Philosophy in Finance Top Colleges, Syllabus, Scope and Salary

    Sakshi Gupta Sakshi Gupta
    Content Curator

    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: 

    • Stockbroker
    • Analyst
    • Statistician
    • Relationship Manager
    • Credit Control Manager
    • CFA
    • CA
    • Finance Manager
    • Tellers & Branch Staff
    • Customer Care Executive
    • Corporate Banking Executive, etc.

    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.

    Ph.D. in Finance: Course Highlights

    Listed below are some of the major highlights of the course.

    Course LevelDoctorate
    Duration3 years
    Examination TypeSemester System
    EligibilityPost-Graduation with Commerce subjects
    Admission ProcessBased on entrance test and direct interview of the short-listed candidates.
    Course FeeINR 2,000 to 5 Lacs
    Average Starting SalaryINR 4 to 8 lacs per annum
    Top Recruiting CompaniesHCL, IBM, TATA Consultancy, Adobe, Accenture, Infosys, Genpact Technologies Ltd., ICICI Bank, Vodafone, Oracle, Reliance, Hero, Bajaj, Airtel, etc.
    Job PositionsStockbroker, Analyst, Statistician, Relationship Manager, CFA, CA, Finance manager, Credit Control Manager, Tellers & Branch Staff, Customer Care Executive, Corporate Banking Executive, and such.

    Ph.D. in Finance: What is it About?

    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.

    Top Institutes offering Ph.D. in Finance

    Listed below are some of the top institutes in India that offer the course.

    Name of InstituteCity Average Fees
    Shailesh J. Mehta School of ManagementMumbaiINR 24,000 (course)
    Indian Institute of Foreign TradeNew DelhiINR 1,01,000 (course)
    Narsee Monjee Institute of Management StudiesMumbaiINR 57,000 (course)
    Department of Management Studies, Indian Institute of TechnologyChennaiINR 11,871 (course)
    Department of Management Studies IIT DelhiNew DelhiINR 12,900 (course)
    Indian Institute of ManagementRanchiINR 3,90,000 (course)
    Indian Institute of Foreign Trade (IIFT)KolkataINR 1,01,000 (course)
    Amrita School of BusinessTamil NaduINR 1,33,000 (course)
    Centurion University of Technology and ManagementBhubaneswarINR 96,667 (course)
    Alliance School of Business, Alliance University, BangaloreBangaloreINR 1,43,000 (course)
    Maulana Azad National Institute of Technology BhopalINR 21,393 (course)
    Sharda UniversityGreater NoidaINR 63,333 (course)
    Birla Institute of Technology and ScienceGoaINR 2,59,000 (course)
    Thapar Institute of Engineering and Technology UniversityPunjabINR 98,900 (course)
    Amrita Vishwa Vidyapeetham Coimbatore CampusTamil NaduINR 1,33,000 (course)
    Amity UniversityNoidaINR 1,05,000 (course)
    Babu Banarasi Das UniversityLucknowINR 1,20,000 (course)
    Poornima UniversityJaipurINR 71,667 (course)
    Gitam UniversityVisakhapatnamINR 63,167 (course)
    Sir Padampat Singhania UniversityUdaipurINR 74,333 (course)
    University of RajasthanJaipurINR 14,395 (course)
    Central University of RajasthanAjmerINR 17,448 (course)

    Eligibility for Ph.D. in Finance

    Candidates who wish to pursue Ph.D. in Finance need to fulfill the following eligibility criteria:

    • Post Graduate degree in commerce subjects like Accountancy, Mathematics, or Economics. 
    • A minimum of 55% aggregate marks in the same for general category candidates and a 5% relaxation for SC/ST/OBC candidates.

    Ph.D. in Finance: Admission Process

    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.

    • Personal Interview

    The list of Ph.D. entrance exams conducted in the country for admission to the course, is as follows:

    • UGC NET exam
    • Symbiosis Ph.D. Entrance Examination
    • AIMA PhD Entrance Exam
    • JNU PhD Entrance Exam
    • NIPER PhD Entrance Exam
    • Alagappa University PhD Entrance Exam
    • Kurukshetra University PhD Entrance Exam
    • University of Hyderabad PhD Entrance Exam
    • GTU PhD Entrance Exam
    • BR Ambedkar Open University PhD Entrance Exam
    • BITS Pilani PhD Entrance Examination
    • ICT Mumbai PhD Entrance Exam
    • Indian Agricultural Research Institute PhD Entrance Exam
    • Osmania University PhD Entrance Exam
    • AIIMS PhD Entrance Exam
    • IISC PhD Entrance Exam
    • NMIMS University Mumbai PhD Entrance Exam
    • CDLU Sirsa PhD Entrance Exam
    • NDRI PhD entrance exam
    • Kerala University PhD Entrance Exam
    • Punjab Technical University PhD Entrance Exam
    • Anna University PhD Entrance Test
    • Annamalai University PhD Admission test
    • Apeejay Stya University PhD Admission test
    • Asia University Madurai PhD Admission test
    • GITAM University Vishakhapatnam PhD Admissions Test
    • Himachal Pradesh University Shimla PhD Admission Test
    • Indraprashtha Institute of Information Technology (IIIT) Delhi - PhD Admission Test
    • IFMR Chennai PhD Entrance Test
    • IMT Ghaziabad - PhD Admissions Test
    • Jamia Hamdard New Delhi PhD Admission Test
    • Jamia Millia Islamia university New Delhi - PhD Admission Test
    • JIIT Noida PhD Admission Test
    • Kalasalingam University PhD Admission Test
    • Lingayas University Faridabad - PhD Admission Test

    Ph.D. in Finance: Syllabus and Course Description

    A unit-wise breakup of the course’s syllabus is tabulated here.

    Unit 1 – Business EnvironmentUnit II – Financial and Management Accounting
    Second Generation reformsValuation of Shares
    Privatization and GlobalizationResponsibility Accounting
    Planning PolicyRatio Analysis
    Meaning and definition of Business EnvironmentPartnership Accounts
    Legal Environment of Business in IndiaFinancial Statements
    Industrial PolicyCost and Management Accounting
    Industrial Growth and Structural ChangesCapital and Revenue
    Environment protectionBasic Accounting Concept
    Economic PolicyAdvanced Company Accounts
    Economic Environment
    Consumer Protection
    Competition Policy
    Unit III – Business EconomicsUnit IV– Business Statistics and Data Processing
    Sampling Errors
    Utility analysisData types
    Price determination in different Market SituationsData Processing
    Nature and Uses of Business EconomicsData Collection and Analysis
    Laws of Variable ProportionCorrelation and Regression
    Laws of ReturnsComputer Application to Functional Areas
    Elasticity of DemandAnalysis and Interpretation of data
    Demand Analysis-
    Concept of Profit and Wealth Maximization-
    Unit V– Business ManagementUnit VI– Marketing Management
    StaffingProduct decision
    Principles of ManagementPricing, Distribution and Promotion
    Planning ProcessMarketing Planning
    Organizational Culture and StructureMarketing Mix
    OrganizingMarketing Environment
    Leadership and ControlEvolution of Marketing
    Decision MakingConcepts of Marketing
    Business Ethics and Corporate Governance-
    Unit VII– Financial ManagementUnit VIII– Human Resource Management
    Working Capital ManagementTraining and Development
    Financial and Operating LeverageSuccession Planning
    Dividend PolicyRole and Functions of HRM
    Cost of capital; Capital BudgetingRecruitment and Selection
    Capital StructurePerformance Appraisal
    Unit IX – Banking and Financial InstitutionIndustrial Relations
    Reserve Bank of IndiaHR Planning
    NABARD and Rural BankingCompensation
    Importance of Banking to Business-
    Types of Banks-
    E Banking-
    Development Banking-
    Banking Sector Reforms in India-

    Ph.D. in Finance: Career Prospects

    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:

    • government and private sectors.
    • public accounting firms.
    • markets research.
    • budget planning.
    • corporations and consultancies. 

    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.

    Doctor of Philosophy (Ph.D.) in Finance annual salary
    Job PositionJob DescriptionAverage Annual Pay Scale in INR
    StockbrokerA 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 ManagerA 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
    CFAA 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 ManagersFinancial 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

    Ph.D. (Finance) Fee Structure in India

    22.36 K (Minimum Fee)PUBLIC COLLEGES4.05 L (Maximum Fee)
    2.09 L (Average Fee)
    19.2 K (Minimum Fee)PRIVATE COLLEGES4.6 L (Maximum Fee)
    2.07 L (Average Fee)

    Ph.D. (Finance) Fee Structure by State

    Uttar Pradesh

    22.36 KPUBLIC COLLEGES22.36 K
    22.36 K
    2.16 L


    57.8 K
    2.27 L

    Delhi NCR

    4.05 L
    2.28 L

    Tamil Nadu

    44.8 K
    1.63 L


    1.57 L
    1.9 L


    2.78 L
    3.38 L



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