collagePhD Programs in Finance: Prerequisites and Requirements
Apr 24, 2020Show Me Schools
Essential Information
A Ph.D. in Finance program is a research-driven course of study leading to an upper-level academic and research career. Ph.D. graduates typically go on to careers wherein they act as consultants, perform further research or teach as faculty members in the finance departments of universities. These program typically takes four to five years, which includes two to three years spent conducting original research and writing a dissertation.
To get into a program, students need to to have acceptable GMAT scores and a background in college-level mathematics, including calculus and algebra, and economics. Some programs may also require them to already have a master’s in business administration.
Ph.D. in Finance
This program is highly intensive in mathematics. The following is a sample curriculum for a Ph.D. program in finance.
- Financial mathematics
- Financial theory
- Financial institutions
- Corporate finance
- Advanced macroeconomics
- Advanced microeconomics
- Statistics and probability
- Financial modes and models
- Empirical methods of financial research
Popular Career Options
Finance Ph.D. graduates are prepared to work in very high-level positions. According to the Bureau of Labor Statistics, demand for business school professors is expected to grow around 15% between 2018 and 2028. A few of the following career options are available to graduates with a Ph.D. in Finance.
- Private consultant
- Corporate financial consultant
- Lead commerce researcher
- Professor of finance
- Government financial researcher
Continuing Education
Certification is not required for finance professionals, especially professionals with a doctoral degree. Financial analysts may choose to become Chartered Financial Analysts (CFA), which is a designation sponsored by the CFA Institute (www.cfainstitute.org). This designation requires applicants to have at least a bachelor’s degree along with four years of experience in the finance field. There are three examinations that cover subjects like economics, corporate finance and financial markets.
A Ph.D. program in finance is a research-driven, math-intensive graduate program that prepares students for careers like corporate financial consulting, university teaching and government financial research.Next: View SchoolsLink to this page
Finance Programs Guide
1. Online DegreesAssociate of Finance: Online DegreeBachelor of Science in Business: Online Finance DegreeDistance Learning Finance Graduate Degrees: Program Options2. Salaries and OutlookAverage Starting Salary of a Finance MajorCareers with an MBA in Finance: Career Options and Salary Info3. Career InformationCareer Information for a Degree in General FinanceFinance Professional: Overview of Different Financial Careers4. Program InfoAssociates Degree in Banking and Finance: Program OverviewsBusiness Finance Degree Program Overviews by Degree LevelGraduate Programs in Finance: Degree and Certificate OverviewsPhD Programs in Finance: Prerequisites and Requirements5. JobsHealthcare Finance Education Requirements and Job OptionsFinance Majors: Job Options and Salary InformationCorporate Finance Advisor: Job Description and Education Requirements6. Top SchoolsTop Schools for Business FinanceList of Top Online Finance Schools
Popular Schools
The listings below may include sponsored content but are popular choices among our users.
An admission advisor from each school can provide more info about:
- programs & curriculum
- career opportunities
- tuition & financial aid
- admissions & starting dates
- 1University of Illinois at Urbana-ChampaignSchool InfoSchool locations:
- Illinois (1 campus)
- Graduate: Doctorate, Master
- Non-Degree: Coursework, Diploma
- Undergraduate: Bachelor
- Business
- Accounting and Bookkeeping
- Business Finance
- Business Management and Operations
- Business Marketing
- Human Resource Management
- Information System Management
- 2The University of Texas at San AntonioSchool InfoSchool locations:
- Texas (1 campus)
- Graduate: Doctorate, Master
- Non-Degree:
- Undergraduate: Bachelor
- Business
- Accounting and Bookkeeping
- Business Economics
- Business Finance
- Business Management and Operations
- Business Marketing
- Entrepreneurship and Small Business Development
- Hospitality Management
- Human Resource Management
- Information System Management
- International Business
- Specialized Sales
- 3The University of Texas at AustinSchool InfoSchool locations:
- Texas (1 campus)
- Graduate: Doctorate, Master
- Non-Degree: Coursework, Diploma
- Undergraduate: Bachelor
- Business
- Accounting and Bookkeeping
- Business Finance
- Business Management and Operations
- Business Marketing
- Entrepreneurship and Small Business Development
- Information System Management
- Specialized Sales
- 4Carnegie Mellon UniversitySchool InfoSchool locations:
- Pennsylvania (1 campus)
- Graduate: Doctorate, Master
- Non-Degree: Coursework, Diploma
- Undergraduate: Bachelor
- Business
- Accounting and Bookkeeping
- Business Economics
- Business Finance
- Investments and Securities
- Business Management and Operations
- Business Marketing
- Entrepreneurship and Small Business Development
- Human Resource Management
- Information System Management
- International Business
- 5Stanford UniversitySchool InfoSchool locations:
- California (1 campus)
- Graduate: Doctorate, First Professional Degree, Master
- Undergraduate: Bachelor
- Business
- Business Economics
- Business Management and Operations
- Business Support and Administrative Services
- 6Harvard UniversitySchool InfoSchool locations:
- Massachusetts (1 campus)
- Graduate: Doctorate, First Professional Degree, Master
- Post Degree Certificate: Postbaccalaureate Certificate
- Undergraduate: Associate, Bachelor
- Business
- Business Economics
- Business Management and Operations
- Human Resource Management
- 7University of PennsylvaniaSchool InfoSchool locations:
- Pennsylvania (1 campus)
- Graduate: Doctorate, First Professional Degree, Master
- Post Degree Certificate: First Professional Certificate, Post Master’s Certificate, Postbaccalaureate Certificate
- Undergraduate: Associate, Bachelor
- Business
- Accounting and Bookkeeping
- Business Economics
- Business Finance
- Public Finance Mgmt
- Business Management and Operations
- Business Marketing
- Business Support and Administrative Services
- Human Resource Management
- Information System Management
- International Business
- Sales and Merchandising
- Specialized Sales
- 8Duke UniversitySchool InfoSchool locations:
- North Carolina (1 campus)
- Graduate: Doctorate, First Professional Degree, Master
- Post Degree Certificate: Postbaccalaureate Certificate
- Undergraduate: Bachelor
- Business
- Business Economics
- Business Management and Operations
- 9University of Notre DameSchool InfoSchool locations:
- Indiana (1 campus)
- Graduate: Doctorate, First Professional Degree, Master
- Undergraduate: Bachelor
- Business
- Accounting and Bookkeeping
- Business Economics
- Business Finance
- Business Management and Operations
- Business Marketing
- Information System Management
- 10Vanderbilt UniversitySchool InfoSchool locations:
- Tennessee (1 campus)
- Graduate: Doctorate, First Professional Degree, Master
- Undergraduate: Bachelor
- Business
- Accounting and Bookkeeping
- Business Economics
- Business Finance
- Business Management and Operations
- Business Marketing
- Human Resource Management
- Information System Management
PHD IN BUSINESS – FINANCE
The PhD program in finance is primarily concerned with such research areas as:
- The behavior of asset prices, e.g., stocks, bonds, options and real estate
- The financing of corporations, including the choice of investments and sources of funds
- Household finance and individual investor behavior
- Corporate governance and incentives of corporate executives and employees
- The management and regulation of banks and other financial intermediaries
The internationally recognized faculty members of the Miami Herbert Business School Department of Finance, as well as the university’s many research centers and programs, have created an environment in which PhD students develop new knowledge and disseminate it among the academic community and into business practice.
Admission to the PhD Program in Finance is normally accompanied with financial assistance to cover tuition, a stipend to cover living expenses, and some support for travel, data, or human subjects research.
Program Overview
KEY LINKS
CURRICULUM AND STRUCTURE
The PhD in finance at the Miami Herbert Business School includes an integrated program of advanced study and research. Applicants should have an adequate academic background, personal maturity and be able to meet the program’s much-more-than-average demand for initiative as well as scholarship.
Being a student in the finance PhD program means a commitment to full-time and in-residence study.
All students in the PhD in Business program complete a core curriculum.
First Year
During the first year of the PhD program, students are required to take courses from the School of Business Administration’s Department of Economics and Department of Finance as part of their PhD core course education. During the first year, there is limited flexibility in course selection to ensure that each student has a critical knowledge base in the areas of economics, econometrics and finance.
Second Year
During the second year, students continue to take courses in the School of Business, and also from other schools and departments at the University of Miami (e.g., Law, Psychology, Neuroscience) as part of their continued PhD course education, and depending on interests and specialization. The goals are to broaden a student’s knowledge beyond the core courses and deepen a student’s base knowledge, while introducing the student to the current research frontier.
Candidacy Stage
After successfully completing a qualifying finance exam in the first year, and an individual finance research paper in the second year, a PhD student is admitted into candidacy. At this stage of the PhD program, the student works full-time on a job market paper, which will showcase the student’s knowledge and skills related to finance scholarship, as well as the rest of the dissertation. This research is conducted under the supervision of an experienced advisor from the finance faculty. Co-authorship with faculty members and other students in the PhD program is common and strongly encouraged, in order to build up a PhD student’s portfolio of research papers.
WHAT DISTINGUISHES OUR FINANCE PHD
Behavioral Finance
In recent years, the finance faculty at the University of Miami has created a strong profile in the area of behavioral finance, which emphasizes interdisciplinary scholarship, e.g., finance combined with psychology research. It is an important goal of the PhD program to train PhD students interested in this emerging research area. The department of finance organizes the Miami Behavioral Finance Conference each year, which attracts finance researchers from all around the world to present and discuss research in this area.
Finance Seminars
The finance faculty also organizes a weekly Finance Seminar Series with invited speakers from top research universities in the U.S. and around the world. In addition, the department organizes a Finance Brown Bag Seminar Series as a forum for presentations by its own faculty and PhD students.
Close Relationships with Faculty
The PhD program in finance at the University of Miami is small, with an average of only 2-3 admitted students per year, to ensure selectivity and the ability of the finance faculty to closely advise and mentor each of the students in the program on an individual basis.
Faculty Academic Journal and Association Involvement
Department of Finance faculty frequently publish in top academic journals, including the Journal of Finance, Journal of Financial Economics, Review of Financial Studies and Journal of Financial and Quantitative Analysis. They are also active on several journal editorial boards, serving as editors, associate editors, advisory editors and editorial board members. In addition, the finance faculty members have served on the boards of several prominent professional associations, including the Financial Management Association and the American Real Estate and Urban Economics Association.
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