When students decide to major in business, they quickly realize just how many different directions are open to them. For some, a marketing concentration might be a wise choice, while more math-minded individuals are likely better suited for a subject like finance, which at its most basic level is the study and examination of topics like money markets, investment, and asset allocation. Beyond the bachelor's and master's, however, the subject begins to become much more complex. Students pursuing a doctorate in finance can expect to delve into topics like asset pricing, market performance, and bank regulation, depending on their specific interests and study track.
Why a Ph.D.?
There is no denying that a doctorate in any subject is an investment in both time and money. In fact, the National Science Foundation published data revealing it is quite common for people to be in their early-to-mid thirties before they complete their doctoral studies, proving this is no short-term commitment. That being said, those who pursue a Ph.D. should possess a passion for finance studies.
Doctorate degrees especially make sense for individuals who have aspirations of becoming professors or researchers in their field. Finance, in particular, helps students move into government positions, such as work with the Federal Reserve, where employees research and analyze current financial policies and procedures.
Inside a Finance Ph.D. Degree Program
Ph.D. degree completion depends on many factors, including a student’s course load and a program’s degree requirements, but on average, Ph.D. programs take anywhere from three to six years to finish. Depending on their specific concentrations, students will take in-depth courses that explore topics like econometrics, finance theory, and more.
Ph.D. programs in finance, especially those featured online, give students a good understanding of their degree subject while encouraging them to explore and expand their study skills. Students receive a healthy balance of challenging curriculum and the educational leeway to explore topics they deem important and necessary for their particular field. These are important skills for students to develop if they hope to excel in the finance field.
What’s Next for Finance Ph.D. Degree Holders?
While most finance positions do not require candidates to have a doctorate in finance, it definitely does not hurt. In fact, a Ph.D. can help students not only get in the door but quickly advance to senior leadership positions, often making them responsible for decision-making that bears on an entire corporation or even an industry as a whole.