phd in finance salary in usa

Majors & Careers
Online Grad School
Preparing For Grad School
Student Life

The 10 Best PhD Programs in Finance

In essence, finance is the study of economics and the claims on resources. The best PhD programs in finance help you develop professionally so you can make difficult decisions around fund allocation, financial planning, and corporate financial management. This qualification will also equip you for a career in teaching or research at top universities.

Which of the 10 best finance PhDs is best for you?

Read on to learn everything you need to know.

Table of Contents

Why Get a Doctorate in Finance?

According to the Bureau of Labor Statistics (BLS), finance managerial professionals have an average salary of $131,710 per year, and jobs are estimated to grow by 17% from 2020 to 2030. This is much more than the average across all occupations. With a PhD in finance, you may work as a finance manager or even become a CEO of a large corporation.

Jobs and Salaries for Doctors of Finance

After earning a PhD in finance, you can find well-paid jobs as a professor or in various corporate finance roles.

Here are some of the most common finance professions with the average annual salaries for each:

Financial Manager ( $96,255 )
Financial Analyst ( $63,295 )
Finance Professor ( $73,776 )
Chief Financial Officer ( $140,694 )
Investment Analyst ( $67,730 )

The University of Pennsylvania, The Wharton School

The University of Pennsylvania’s renowned Wharton School of Business is home to faculty who are well-known in the field of business research. The school boasts a low student-faculty ratio in an atmosphere that allows you to work with faculty members as peers. This doctor of finance program emphasizes subjects like asset pricing, corporate finance, and portfolio management. This helps students become experts in research and teaching in these areas.

Courses include: Topics in asset pricing, financial economics, and international finance.
Credits: 18 courses
Financial aid: Fellowships, grants, student employment, health insurance, stipend, and loans.
Acceptance rate: 9%
Location: Philadelphia, Pennsylvania

The University of Chicago, Booth School of Business

Booth School of Business is a major center for finance education because its faculty includes Eugene F. Fama, Nobel laureate and the father of modern empirical finance. This finance doctoral degree has an option for a joint PhD in collaboration with the university’s economics department.

Courses: Financial economics, financial markets in the macroeconomy, and behavioral finance.
Tuition : Refer tuition page
Financial aid: Grants, stipends, health insurance, scholarships, fellowships, teaching assistantships, research assistantships, and loans.
Acceptance rate: 7%
Location: Chicago, Illinois

The University of Illinois at Urbana-Champaign, Gies College of Business

The University of Illinois at Urbana Champaign is one of the best places for studying and conducting research in finance. Its finance research faculty was ranked #4 in the UTD Top 100 Business School Research Rankings between 2016-2019. In this PhD in finance program, students can take the qualifying examination at the end of the first year and, if successful. They’ll be able to start their research project earlier and complete the degree sooner.

Courses include: Empirical analysis in finance, corporate finance, and statistics & probability.
Duration: 4-5 years
Financial aid: Full tuition waiver, stipends, scholarships, grants, student employment, and loans.
Acceptance rate: 63%
Location: Champaign, Illinois

Massachusetts Institute of Technology, Sloan School of Management

The Sloan School is one of the top research centers in the world, which aims to transform students into experts who can handle real-world problems in a wide range of spheres, from business and healthcare to climate change. This PhD program in finance gives students the flexibility to choose between a wide range of electives and even study some courses at Harvard.

Courses include: Current research in financial economics, statistics/applied econometrics, and corporate finance.
Duration: 6 years
Financial aid: Full tuition, stipend, teaching assistantships, research assistantships, health insurance, fellowships, scholarships, and loans.
Location: Cambridge, Massachusetts

Northwestern University, Kellogg School of Management

The Kellogg School of Management allows students to conduct independent research under the supervision of faculty who’ve made significant contributions to the field and have earned numerous prestigious awards. This doctorate of finance program’s admission process has a dual application option. You can also apply to the Economics PhD simultaneously, so if you are not selected for the finance program, you may be considered for economics.

Courses include: Econometrics, corporate finance, and asset pricing.
Duration: 5.5 years
Financial aid: Tuition scholarship, stipends, health insurance, moving allowance, and subsidies.
Location: Evanston, Illinois

The University of California Berkeley, Haas School of Business

The Haas School of Business in Berkeley is an innovative institution that questions the status quo, takes intelligent risks, and accepts sensible failures in its path to progress. This finance PhD program offers students opportunities to learn about cutting-edge research from faculty from around the world.

Courses include: Corporate finance theory, stochastic calculus, and applications of psychology & economics.
Tuition : Refer cost page
Financial aid: Fellowships, grants, tuition allowance, stipends, teaching assistantships, and research assistantships.
Acceptance rate: 17%
Location: Berkeley, California

The University of Texas at San Antonio, Alvarez College of Business

The Alvarez College of Business is one of the forty largest business schools in the USA. It follows a comprehensive and practical approach to education that allows students to apply the knowledge they gain directly in the workplace. This PhD in finance encourages students to do collaborative research with the faculty, which helps them publish their own academic papers before they even complete the program.

Courses include: Corporate finance, international financial markets, and microeconomic theory.
Credits: 84 (post-bachelors)
Financial aid: Scholarships, grants, work-study, teaching assistantships, research assistantships, research fellowships, and loans.
Acceptance rate: 84%
Location: San Antonio, Texas

Liberty University, School of Business

Doctor of Business Administration (DBA) in Finance

Liberty University is a non-profit institution among the top five online schools in the USA and has been offering fixed tuition fees for the past seven years. This is one of the best PhD in Finance programs you can do completely online. It aims to prepare students to address issues in business finance through research, best practices, and relevant literature.

Courses: Managerial Finance, Investments & Derivatives, Business Valuation, etc.
Credits: 60
Duration: 3 years average
Tuition : $595 per credit
Financial aid: Grants, scholarships, work-study, veteran benefits, and loans.
Delivery: Online
Acceptance rate: 50%
Location: Lynchburg, Virginia

Northcentral University

PhD in Business Administration (PhD-BA) – Finance Management

Northcentral University was founded with the objective of offering flexible, fully-online programs to working professionals around the world. This doctorate degree in finance online is flexible and allows you to design your own schedule. You will also get one-on-one personal mentoring from qualified faculty.

Courses include: Business financial systems, business statistics, and business leadership & strategy.
Duration: 84 months average
Tuition: $1,105 per credit
Financial aid: Grants, scholarships, and military scholarships.
Acceptance rate: NA
Location: Scottsdale, Arizona

Things To Consider When Choosing a Finance PhD Program

The right PhD program for you is a very personal decision and will depend on several individual factors.

However, these general questions will help you to make the right choice:

Is the university properly accredited?
Does the university conduct innovative and cutting-edge research?
Are there renowned faculty members who you’ll want to work with?
Do they offer subjects or specializations that match your career goals?
What is the school’s placement history?
What are the tuition fees, costs, and options for scholarships and financial aid?
Does the program offer online study options?

It’s also important to consider if you want to pursue a career in academia or work in organizations as a senior finance professional. A PhD degree will generally set you up for a career in research or academia, while a DBA is more suited to a career in business or government.

Preparing for a Finance Doctorate Program

It’s important to start preparing early if you want to be selected for one of the best finance PhD programs.

These handy tips can help you put your best foot forward:

Research the requirements of the best universities offering PhD in finance degrees, including pre-requisite subjects and qualifying grades. Keep these in mind when completing your bachelor’s or master’s degree.
Understand your strengths and weaknesses in relation to the program’s requirements. Work on your weaknesses and continue to hone relevant skills.
Read extensively in the field and keep up-to-date on regional and global developments.
Join communities of finance professionals to build your network and be exposed to the latest knowledge in the discipline.

Skills You Gain from Earning a PhD in Finance

The most important skills you learn as a doctor of finance include:

Communication skills, including writing and presentation skills
Data analytical skills
Economics and accounting skills
Critical thinking skills
Mathematical skills
Analytical software skills
Management and leadership skills
Problem-solving skills

PhD Programs in Finance FAQs

How long does a phd in finance take.

PhD programs in finance usually take between three and eight years to complete.

Is It Worth Getting a PhD in Finance?

A PhD in Finance is a qualification that’s in high demand today. It is a terminal degree and can help you get top-level jobs with lucrative salaries in corporate or large organizations.

How Much Can You Make With a PhD in Finance?

With a finance doctorate, you can expect to earn a salary anywhere from around $45,000 to $150,000, depending on your experience, role, and the organization you work for. According to the BLS, the average salary for finance PhD holders is $131,710 .

What Do You Need To Get a PhD in Finance?

The admissions requirements vary depending on the program, but you’ll typically need a bachelor’s or master’s degree in finance. The programs can take three to eight years of coursework and research.

To apply, you’ll usually need to submit:

Application
Academic resume
Academic transcripts
Recommendation letters
GRE or GMAT score
Personal essay

Final Thoughts

With a doctorate in finance, you can build a rewarding career in academia, research, or the business sector. Like any doctorate, these programs ask for dedication and hard work. By planning early, you’ll set yourself up to pursue one of the best PhD programs in finance.

For more on how to build your career in the field, take a look at our guides to the best master’s degree in finance , the highest paying PhDs , and fully-funded PhD programs .

Lisa Marlin

Lisa is a full-time writer specializing in career advice, further education, and personal development. She works from all over the world, and when not writing you'll find her hiking, practicing yoga, or enjoying a glass of Malbec.

Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ 12 Best Laptops for Computer Science Students
Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ ACBSP Vs AACSB: Which Business Program Accreditations is Better?
Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ BA vs BS: What You Need to Know [2024 Guide]
Lisa Marlin https://blog.thegradcafe.com/author/lisa-marlin/ The 19 Best MBA Scholarships to Apply for [2024-2025]

The 7 Best Student Planner Apps

Most common industries to land a job out of college, related posts.

Here's how to earn consideration from the big tech players as a new grad.

Applying to Big Tech This Year? Here’s How to Ace It.

Fewer employers list education requirements in job postings.

73% of job seekers believe a degree is needed for a well-paying role–but is it?

There are more jobs than talent in these cities.

Tech Talent Crunch: Cities with More Jobs Than Workers

The Most Under-Rated Career Advancement Tip for 2024

Top 5 Best Psychology PhD Programs in 2024

Good News For Early Careers: Skills-Based Hiring is Surging

Most Common Industries to Land a Job out of College

FellowshipBard

Phd in finance: requirements, salary, jobs, & career growth, what is phd in finance.

A PhD in Finance is a doctoral-level academic degree program in finance that focuses on advanced research and theoretical study. It is intended for people who want to work in academia, research, or advanced positions in the financial industry.

A PhD in Finance usually entails extensive training in finance, economics, statistics, and research methods. It also necessitates the completion of a substantial research project, frequently in the form of a dissertation, in which the student conducts original research and contributes to the body of knowledge in finance.

A PhD in Finance program’s curriculum may include financial theory, investments, corporate finance, financial econometrics, risk management, asset pricing, derivatives, and other specific fields of finance. Quantitative research approaches, such as econometrics, statistical modeling, and data analysis, may also be emphasized in the program.

How much money do people make with a PhD in Finance?

Individuals with a PhD in Finance can earn a wide range of salaries depending on criteria such as their years of experience, location, company, and job duties. PhD holders in Finance typically earn better income than people with less schooling in the industry, as their postgraduate degree denotes knowledge and specialization.

PhD holders in Finance may work in academia as professors or researchers in universities or business schools. According to the US Bureau of Labor Statistics (BLS), the median annual income for postsecondary business teachers (including finance professors) was $83,960 in May 2020.

Salaries, on the other hand, can range from $50,000 to far over $150,000 or more, depending on factors such as rank, experience, and location.

Individuals with a PhD in Finance may work in the private sector as financial analysts, quantitative researchers, risk managers, investment managers, or consultants, among other positions. Salaries in the private sector can vary greatly depending on job title, level of responsibility, and business size and location.

According to Glassdoor data, the average annual pay for a financial analyst with a PhD in Finance in the United States in 2021 was roughly $102,000, while a quantitative researcher with a PhD in Finance may earn $150,000 or more per year.

What is expected job growth with PhD in Finance?

As businesses and organizations rely on financial skills to manage their operations, investments, and risk, the field of finance is projected to evolve and flourish.

Finance experts with extensive education and specialized knowledge, such as those with a PhD in Finance, may be in high demand in academic and research contexts, as well as professions requiring advanced quantitative and analytical skills.

According to the U.S. Bureau of Labor Statistics (BLS), employment of postsecondary teachers, particularly business teachers (such as finance professors), is expected to expand 9 percent from 2020 to 2030, faster than the national average. The need for higher education, as well as the ongoing demand for research and education, are driving this predicted growth.

What can you do with a PhD in Finance?

A PhD in Finance can lead to a variety of professional prospects in a variety of fields. Individuals with a PhD in Finance may pursue the following professional paths:

1. Academia: Many PhDs in Finance go on to become professors or researchers at universities or business schools. They may teach finance classes, conduct research, publish scholarly articles, and contribute to the progress of financial knowledge through their research findings. In addition, they may mentor and advise students, oversee dissertations, and attend academic conferences and seminars.

2. Research: PhD holders in Finance may work in research-related positions in university institutions, government agencies, or private research enterprises. They may perform novel research on financial markets, investments, risk management, corporate finance, or other finance-related topics. Their discoveries can help to build financial theories, models, and regulations, and they may have practical implications in the financial business.

3. Financial Services: PhD holders in Finance may work as financial analysts, quantitative researchers, risk managers, or investment managers in the financial services industry. They may evaluate financial data, design investment plans, manage risks, and provide strategic financial advise to customers or organizations using their sophisticated knowledge of finance and mathematical skills.

4. Consulting: PhD holders in Finance may operate as financial consultants, providing clients with specific experience in areas such as investment management, risk management, financial analysis, or corporate finance. They may operate in consulting firms, financial advisory firms, or specialist consulting practices within bigger corporations, advising clients on strategic financial matters.

5. Policymaking and government: Finance PhD holders may work in government agencies, international organizations, or policy-making institutions, providing knowledge in financial policy, regulations, or economic analysis. They may be involved in the development of financial policies, the assessment of the impact of financial legislation, or the provision of strategic financial advice to government agencies or policymakers.

6. Corporate Finance: PhD holders in Finance may work in corporations, particularly in financial strategy, capital budgeting, risk management, or financial analysis areas. They may offer financial advice in strategic decision-making, financial planning and analysis, investment analysis, or corporate valuation, assisting firms in improving their financial performance.

7. Entrepreneurship and Innovation: PhD holders in Finance may apply their financial skills to entrepreneurial initiatives or professions requiring innovation. They may work at start-ups, venture capital companies, or innovation-focused organizations, where they evaluate business models, assess investment opportunities, manage financial risks, and provide strategic financial advise to assist entrepreneurial activities.

What are the requirements for a PhD in Finance?

The particular criteria for a PhD in Finance can differ depending on the university or educational institution that offers the program, as well as the country or location in which the program is located. However, some common PhD in Finance requirements often include:

1. Educational Qualifications: Most PhD programs in Finance require applicants to have a solid educational background, often a master’s degree in a relevant topic such as finance, economics, business, or a comparable quantitative study. Some schools may accept applicants with a bachelor’s degree, however this is uncommon and sometimes necessitates additional requirements or experience.

2. Graduate Admissions examinations: Applicants to PhD programs in Finance may be required to submit results from standardized graduate admissions examinations such as the Graduate Record Examination (GRE) or the Graduate Management Admission Test (GMAT). (GMAT). These assessments measure applicants’ abilities in areas such as verbal reasoning, quantitative reasoning, and analytical writing.

3. Research Proposal: Because the PhD in Finance program is research-intensive, applicants may be required to submit a research proposal explaining their intended study topic or research interests. Typically, this proposal comprises a summary of the research issue, study aims, methodology, and predicted contributions to the subject of finance.

4. Academic Transcripts: Typically, applicants must produce official transcripts from their previous undergraduate and graduate degrees, demonstrating their academic record and achievements.

5. Letters of Recommendation: Applicants may be expected to present letters of recommendation from academic or professional sources who can speak to their abilities, skills, and prospects for success in a PhD program.

6. Statement of Purpose: Applicants are often required to provide a statement of purpose explaining their rationale for obtaining a PhD in Finance, as well as their professional objectives and research interests. This statement assists the admissions committee in determining the applicant’s fit with the program and their likelihood of success.

7. English Language Proficiency: Many PhD programs in Finance may demand confirmation of English language proficiency for applicants whose native language is not English, such as scores from the Test of English as a Foreign Language (TOEFL) or the International English Language Testing System. (IELTS).

8. Interviews: As part of the admissions process, several PhD programs in Finance may ask applicants to engage in an interview. This interview may take place in person, over the phone, or via video conference, and it will assess the applicant’s research interests, academic abilities, and enthusiasm for pursuing a PhD in Finance.

Looking For Scholarship Programs? Click here

How long does it take to get a phd in finance.

The time it takes to earn a PhD in Finance depends on a number of factors, including the program structure, the student’s progress, and the individual’s dedication to their study. However, it usually takes 4 to 5 years of full-time study to get a PhD in Finance.

The completion of a PhD in Finance can be divided into many stages, which may differ based on the program and the individual’s progress:

1. Coursework: During the first year of a PhD in Finance program, students often do coursework to provide a solid foundation in finance theory, research methods, and other related fields. Coursework time varies, but it normally takes 1 to 2 years to finish.

2. Comprehensive Exams: Some PhD programs in Finance require students to complete comprehensive exams after completing courses to demonstrate their knowledge and expertise in the discipline. Depending on the program’s requirements, comprehensive exam preparation and completion can take several months to a year.

3. Research Proposal: After passing the comprehensive tests, students usually work on writing and defending a research proposal outlining their desired study topic, methodology, and expected contributions to the discipline. The development and defense of the research proposal might take several months to a year or more, depending on the complexity of the research and the student’s progress.

4. Dissertation Research: Following the successful defense of the research proposal, students begin their dissertation research, which is the capstone of their PhD program. The dissertation research stage’s time might vary greatly based on the research topic, methodology, data gathering, and analysis needs. The dissertation research and writing process normally takes two to three years or more.

5. Dissertation Defense: After completing their dissertation, students usually defend their research findings in front of a committee of faculty members. The time it takes to schedule and complete the dissertation defense can vary, although it normally takes several months to a year or more, depending on committee member availability and other practical concerns.

Looking For Fully Funded PhD Programs? Click Here

Do you need a masters in finance to get a phd in finance.

A Master’s degree in Finance or a similar discipline is not always required for entrance to a PhD program in Finance. However, admission requirements may differ based on the program and institution.

Some PhD programs in Finance may require applicants to have a Master’s degree in a relevant discipline, whereas others may allow applicants with only a Bachelor’s degree provided they have additional qualifications or experience.

A Master’s degree in Finance or a closely related discipline can provide a solid foundation in finance theory, research methodologies, and mathematical skills, which can be useful for PhD study in Finance.

It can also reflect a greater degree of academic preparation and may assist applicants in standing out during the difficult admissions process.

Some PhD programs in Finance, however, may provide a combined Master’s and PhD program in which students acquire a Master’s degree while pursuing their PhD. In such instances, admittance may not require a separate Master’s degree.

What are the Best PhD in Finance Degree programs?

1. massachusetts institute of technology (mit) – phd in finance 2. stanford university – phd in finance 3. university of chicago – phd in finance 4. columbia university – phd in finance and economics 5. new york university (nyu) – phd in finance 6. university of pennsylvania (wharton) – phd in finance 7. harvard university – phd in business economics (with a concentration in finance) 8. university of california, berkeley (haas) – phd in finance 9. princeton university – phd in finance 10. northwestern university (kellogg) – phd in finance, leave a comment cancel reply.

Save my name, email, and website in this browser for the next time I comment.

Never Miss Any Research Opportunity! Join Our Telegram Channel

Build a Career You'll Love

Phd in finance salary in the united states.

How much does a Phd In Finance make in the United States? The salary range for a Phd In Finance job is from $93,711 to $124,065 per year in the United States. Click on the filter to check out Phd In Finance job salaries by hourly, weekly, biweekly, semimonthly, monthly, and yearly.

Per semimonth
Connecticut
District of Columbia
Massachusetts
Mississippi
North Carolina
North Dakota
New Hampshire
Pennsylvania
Rhode Island
South Carolina
South Dakota
West Virginia
San Francisco, CA
Washington, DC
Chicago, IL
New York, NY

HOW SHOULD YOU USE THIS DATA?

Employees: Use this as a guide for salary expectations, but be aware that responsibilities can change across companies for the same job title, so there may be differences between this data, other free site and our subscription products bought by employers.

Employers: This data could be used as reference point in your market pricing, but not the only source, due to differences across jobs locations, and sizes of companies.Consider additional sources like our Employer reported data.

Our consulting team crafts efficient, data-driven solutions using the power of CompAnalyst ® , ensuring your challenges are met head-on.

The trusted data and intuitive software your organization needs to get pay right.

Let our management tool - JobArchitect™ streamline your job description process. Say goodbye to the hassle of crafting job descriptions.

Highest Paying Cities for Phd In Finance in the United States

States with higher salaries for phd in finance, how much do similar professions get paid in the united states, how much should you be earning, what does a phd in finance do.

The PhD program in Finance at ISCTE is a rigorous program designed to train students to produce high-quality research.

PhD Finance programs cover all areas of finance, often including such topics of study as corporate finance, asset pricing, investments, insurance, security prices, corporate governance, and the management and regulation of financial institutions, to name a few.

A PhD in finance provides a solid foundation in the theoretical and empirical tools of modern finance, drawing heavily on the discipline of economics.

The PhD in Business Administration (PhD-BA), Concentration in Finance allows students to advance to the highest levels of business education.

There are many universities located all over the world that offer PhD Finance programs, each providing a unique local focus within a global perspective of finance.

Moreover, the job market for finance PhDs has been strong, and in recent years more positions have been available than candidates pursuing jobs.

Graduates holding a PhD Finance degree often go on to careers in Universities, consulting, and other careers in the financial services industry.

View Job Skills and Competency Data for more than 15,000 Job Titles, 18 Industries, and 26 Job Families.

Most Common Benefits for Phd In Finance

Related companies for phd in finance in the united states, frequently asked questions, do i receive fair pay as a phd in finance currently, what are the responsibilities of a phd in finance, how much do similar jobs to phd in finance make.

Psychologist Phd
Phd Chemist
Phd Engineer
Phd Scientist
Phd Biology
Phd Engineering
Phd Neuroscience
Phd Physics
Phd Researcher

Where can I get a higher Phd In Finance salary in the United States?

What is the phd in finance's salary range in the united states, career insights.

What is Pay-for-Performance Compensation?

Top Streams

Data Science Courses in USA
Business Analytics Courses in USA
Engineering Courses in USA
Tax Courses in USA
Healthcare Courses in USA
Language Courses in USA
Insurance Courses in USA
Digital Marketing Courses in USA

Top Specialization

Masters in Data Analytics in USA
Masters in Mechanical Engineering in USA
Masters in Supply Chain Management in USA
Masters in Computer Science in USA
MBA in Finance in USA
Masters in Architecture in USA

Top Universities

Cornell University
Yale University
Princeton University
University of California Los Angeles
University of Harvard
Stanford University
Arizona State University
Northeastern University
Project Management Courses in Australia
Accounting Courses in Australia
Medical Courses in Australia
Psychology Courses in Australia
Interior Designing Courses in Australia
Pharmacy Courses in Australia
Social Work Courses in Australia
MBA in Australia
Masters in Education in Australia
Masters in Pharmacy in Australia
Masters in Information Technology in Australia
BBA in Australia
Masters in Teaching in Australia
Masters in Psychology in Australia
University of Melbourne
Deakin University
Carnegie Mellon University
Monash University
University of Sydney
University of Queensland
RMIT University
Macquarie University
Data Science Courses in Canada
Business Management Courses in Canada
Supply Chain Management Courses in Canada
Project Management Courses in Canada
Business Analytics Courses in Canada
Hotel Management Courses in Canada
MBA in Canada
MS in Canada
Masters in Computer Science in Canada
Masters in Management in Canada
Masters in Psychology in Canada
Masters in Education in Canada
MBA in Finance in Canada
Masters in Business Analytics in Canada
University of Toronto
University of British Columbia
McGill University
University of Alberta
York University
University of Calgary
Algoma University
University Canada West
Project Management Courses in UK
Data Science Courses in UK
Public Health Courses in UK
Digital Marketing Courses in UK
Hotel Management Courses in UK
Nursing Courses in UK
Medicine Courses in UK
Interior Designing Courses in UK
Masters in Computer Science in UK
Masters in Psychology in UK
MBA in Finance in UK
MBA in Healthcare Management in UK
Masters in Education in UK
Masters in Marketing in UK
MBA in HR in UK
University of Oxford
University of Cambridge
Coventry University
University of East London
University of Hertfordshire
University of Birmingham
Imperial College London
University of Glasgow

Top Resources

Universities in Germany
Study in Germany
Masters in Germany
Courses in Germany
Bachelors in Germany
Germany Job Seeker Visa
Cost of Living in Germany
Best Universities in Germany

Top Courses

Masters in Data Science in Germany
MS in Computer Science in Germany
Marine Engineering in Germany
MS Courses in Germany
Masters in Psychology in Germany
Hotel Management Courses in Germany
Masters in Economics in Germany
Paramedical Courses in Germany
Karlsruhe Institute of Technology
University of Bonn
University of Freiburg
University of Hamburg
University of Stuttgart
Saarland University
Mannheim University
MBA in Ireland
Phd in Ireland
Masters in Computer Science Ireland
Cyber Security in Ireland
Masters in Data Analytics Ireland
Ms in Data Science in Ireland
Pharmacy courses in ireland
Business Analytics Course in Ireland
Universities in Ireland
Study in Ireland
Masters in Ireland
Courses in Ireland
Bachelors in Ireland
Cost of Living in Ireland
Ireland Student Visa
Part Time Jobs in Ireland
Trinity College Dublin
University College Dublin
Dublin City University
University of Limerick
Dublin Business School
Maynooth University
University College Cork
National College of Ireland

Colleges & Courses

Masters in France
Phd in France
Study Medicine in France
Best Universities in Frankfurt
Best Architecture Colleges in France
ESIGELEC France
Study in France for Indian Students
Intakes in France
SOP for France Visa
Study in France from India
Reasons to Study in France
How to Settle in France

More About France

Cost of Living in France
France Study Visa
Cost of Living in Frankfurt
France Scholarship for Indian Students
Part Time Jobs in France
Stay Back in France After Masters

About Finland

Universities in Finland
Study in Finland
Courses in Finland
Bachelor Courses in Finland
Masters Courses in Finland
Cost of Living in Finland
MS in Finland
Average Fees in Finland Universities
PhD in Finland
Bachelor Degree in Medicine & Surgery
MBBS Courses in Georgia
MBBS Courses in Russia
Alte University
Caucasus University
Georgian National University SEU
David Tvildiani Medical University
Caspian International School Of Medicine
Asfendiyarov Kazakh National Medical University
Kyrgyz State Medical Academy
Cremeia Federal University
Bashkir State Medical University
Kursk State Medical University
Andijan State Medical Institute
IELTS Syllabus
IELTS Prepration
IELTS Eligibility
IELTS Test Format
IELTS Band Descriptors
IELTS Speaking test
IELTS Writing Task 1
IELTS score validity
IELTS Cue Card

IELTS Reading Answers Sample

Animal Camouflage
Types Of Societies
Australia Convict Colonies
A Spark A Flint
Emigration To The Us
The History Of Salt
Zoo Conservation Programmes
The Robots Are Coming
The Development Of Plastic

IELTS Speaking Cue Card Sample

Describe A Puzzle You Have Played
Describe A Long Walk You Ever Had
Describe Your Favourite Movie
Describe A Difficult Thing You did
Describe A Businessman You Admire
Memorable Day in My Life
Describe Your Dream House
Describe A Bag You Want to Own
Describe a Famous Athlete You Know
Aquatic Animal

IELTS Essay Sample Sample

Best Education System
IELTS Opinion Essay
Agree or Disagree Essay
Problem Solution Essays
Essay on Space Exploration
Essay On Historical Places
Essay Writing Samples
Tourism Essay
Global Warming Essay
GRE Exam Fees
GRE Exam Syllabus
GRE Exam Eligibility
Sections in GRE Exam
GRE Exam Benefits
GRE Exam Results
GRE Cutoff for US Universities
GRE Preparation
Send GRE scores to Universities

GRE Exam Study Material

GRE Verbal Preparation
GRE Study Material
GRE AWA Essays
GRE Sample Issue Essays
Stanford University GRE Cutoff
Harvard University GRE Cutoff
GRE Quantitative Reasoning
GRE Verbal Reasoning
GRE Reading Comprehension
Prepare for GRE in 2 months

Other Resources

Documents Required For Gre Exam
GRE Exam Duration
GRE at Home
GRE vs GMAT
Improve GRE Verbal Scores

Free GRE Ebooks

GRE Preparation Guide (Free PDF)
GRE Syllabus (Free PDF)
GMAT Eligibility
GMAT Syllabus
GMAT Exam Dates
GMAT Registration
GMAT Exam Fees
GMAT Sections
GMAT Purpose

GMAT Exam Study Material

How to prepare for GMAT?
GMAT Score Validity
GMAT Preparation Books
GMAT Preparation
GMAT Exam Duration
GMAT Score for Harvard
GMAT Reading Comprehension
GMAT Retake Strategy

Free GMAT Ebooks

GMAT Guide PDF
Download GMAT Syllabus PDF
TOEFL Exam Registration
TOEFL Exam Eligibility
TOEFL Exam Pattern
TOEFL Exam Preparation
TOEFL Exam Tips
TOEFL Exam Dates
Documents for TOEFL Exam
TOEFL Exam Fee

TOEFL Exam Study Material

TOEFL Preparation Books
TOEFL Speaking Section
TOEFL Score and Results
TOEFL Writing Section
TOEFL Reading Section
TOEFL Listening Section
TOEFL Vocabulary
Types of Essays in TOEFL

Free TOEFL Ebooks

TOEFL Exam Guide (Free PDF)
PTE Exam Dates
PTE Exam Syllabus
PTE Exam Eligibility Criteria
PTE Test Centers in India
PTE Exam Pattern
PTE Exam Fees
PTE Exam Duration
PTE Exam Registration

PTE Exam Study Material

PTE Exam Preparation
PTE Speaking Test
PTE Reading Test
PTE Listening Test
PTE Writing Test
PTE Essay Writing
PTE exam for Australia

Free PTE Ebooks

PTE Syllabus (Free PDF)
Duolingo Exam
Duolingo Test Eligibility
Duolingo Exam Pattern
Duolingo Exam Fees
Duolingo Test Validity
Duolingo Syllabus
Duolingo Preparation

Duolingo Exam Study Material

Duolingo Exam Dates
Duolingo Test Score
Duolingo Test Results
Duolingo Test Booking

Free Duolingo Ebooks

Duolingo Guide (Free PDF)
Duolingo Test Pattern (Free PDF)

NEET & MCAT Exam

NEET Study Material
NEET Preparation
MCAT Eligibility
MCAT Preparation

SAT & ACT Exam

ACT Eligibility
ACT Exam Dates
SAT Syllabus
SAT Exam Pattern
SAT Exam Eligibility

USMLE & OET Exam

USMLE Syllabus
USMLE Preparation
USMLE Step 1
OET Syllabus
OET Eligibility
OET Prepration

PLAB & LSAT Exam

PLAB Exam Syllabus
PLAB Exam Fees
LSAT Eligibility
LSAT Registration
TOEIC Result
Study Guide

Application Process

LOR for Masters
SOP Samples for MS
LOR for Phd
SOP for Internship
SOP for Phd
Check Visa Status
Motivation Letter Format
Motivation Letter for Internship
F1 Visa Documents Checklist

Career Prospects

Popular Courses after Bcom in Abroad
Part Time Jobs in Australia
Part Time Jobs in USA
Salary after MS in Germany
Salary after MBA in Canada
Average Salary in Singapore
Higher Studies after MBA in Abroad
Study in Canada after 12th

Country Guides

Study in UK
Study in Canada
Study in USA
Study in Australia
SOP Samples for Canada Student Visa
US F1 Visa Guide for Aspirants

Exams Guides

Duolingo Test Pattern

GPA CALCULATOR Convert percentage marks to GPA effortlessly with our calculator!

Expense calculator plan your study abroad expenses with our comprehensive calculator, ielts band calculator estimate your ielts band score with our accurate calculator, education loan calculator discover your eligible loan amount limit with our education calculator, university partner explore growth and opportunities with our university partnership, accommodation discover your perfect study abroad accommodation here, experience-center discover our offline centers for a personalized experience, our offices visit us for expert study abroad counseling..

18002102030
Study Abroad

Your Guide to a PhD in Finance in USA

Universities in USA

Updated on 04 March, 2024

Shivangi Mishra

Sr. content editor.

A PhD in Finance is a doctoral-level degree that signifies the highest level of expertise in the field. It involves rigorous research and advanced coursework, culminating in a dissertation that makes a significant contribution to the existing body of knowledge in the field. The USA is one of the top places for this degree. A PhD in Finance in the USA typically takes around 5 years to complete. This article will discuss everything you must know about pursuing PhD in finance in the USA.

Why study phd in finance in usa, best universities for phd in finance in usa, eligibility criteria for phd in finance from usa, documents required to study phd in finance from usa, admission process for phd in finance in usa, scholarships for phd in finance in usa.

Career Opportunities After PhD in Finance in US

Some of the the reasons to pursue a PhD in finance in the USA are:

It prepares candidates for careers in academia & research, consulting, and policy-making in finance.
Some of the top financial colleges in the world, including Stanford, Kellogg, Tepper, and Wharton, are located in the United States.
With access to top financial markets, institutions, specialists, and centres, the USA provides a broad financial environment.
The United States of America offers a top-notch, demanding education that places a major focus on analytical and mathematical abilities as well as multidisciplinary and cooperative research.
For PhD students and graduates, the USA provides a plethora of financing, networking, career development, and professional advancement options.

Some of the recent statistics that support these reasons are:

According to the QS World University Rankings by subject in 2023, 16 out of the top 50 universities for accounting and finance are located in the USA.
According to the Global Financial Centers Index, 30 and 7 out of the top 20 financial centers in the world are located in the USA, including New York, San Francisco, Chicago, Boston, Los Angeles, Washington, DC, and Dallas.

Many universities offer fully-funded PhD in finance in USA. Some of the best universities for a PhD in finance in USA based on their subject ranking, reputation, research output, and faculty are:

The eligibility criteria for finance PhD programs in USA may vary depending on the university program, but some of the common requirements are:

A bachelor's degree or its equivalent with first-class GPA.
A strong background in quantitative methods such as calculus and exposure to micro and macroeconomics.

The documents required to study PhD Programs in finance USA may vary depending on the university program, but some of the common documents are:

A satisfactory score on the Graduate Record Examination (GRE) or the Graduate Management Admission Test (GMAT) depending on the university in the program.
A statement of purpose that outlines the research interests, goals, and motivations for pursuing a PhD in finance.
A resume no longer than two pages that highlights academic achievements, research experience, publications, awards, and extracurricular activities.
A maximum of 4 letters of recommendation from professors or mentors who can attest to the academic potential of the research skills and the applicant's personal qualities.
A writing sample that demonstrates the ability to conduct original and rigorous research in finance such as a master's thesis, a published paper, and a research proposal.
Proof of English language proficiency, such as a minimum score on TOEFL or the IELTS for international applicants whose native language is not English.
A short video essay for the accounting research group (optional for marketing and system dynamics research groups). The video should explain why you selected this research group.

The admission process for a PhD in Finance in USA may vary depending on the university and program, but some of the common steps are:

Check the eligibility criteria, application deadlines, and required documents for each university program and prepare them accordingly.
Take the GRE or GMAT and TOEFL or IELTS (if required), and request the test scores be sent to the chosen universities.
Fill out and submit the online application form along with the application fee for each university and program
Upload or mail the supporting documents, such as the statement of purpose , curriculum vitae, writing sample, and letters of recommendation .
Wait for the admission decision, which may take varied amounts of time based on the university program. Some universities may also conduct interviews or request additional information from the applicants before making the final decision.
Accept the admission offer if received, and confirm enrollment by paying the deposit fee and completing the necessary paperwork.
Apply for a student visa and arrange the travel & accommodation for studying in the USA.

Some of the scholarships for fully-funded PhD in finance in USA, based on their eligibility and benefits, are:

Career Opportunities After PhD in Finance in US

Some of the career opportunities after PhD in finance in USA, based on their job roles and average salaries, are:

Jobs in MBA
MBA Salary in USA
MBA in USA without GMAT
Jobs in USA for Indian Freshers
Best Universities in USA for MBA
MBA in USA without work experience
Part - Time Jobs in USA for Indian & International Students

What is a PhD?

A PhD is a postgraduate doctorate often earned following a bachelor's or master's degree in undergraduate studies. PhD candidates conduct independent study for an original thesis in their field, and after completing their degree, they are awarded the title "Doctor."

What does a PhD entail?

A PhD is a doctorate in philosophy. Philosophiae Doctor is the Latin root of the term PhD. Another way to write it is as DPhil.

How long is a PhD thesis?

A PhD thesis will typically be longer than 60,000 words but cannot be longer than 80,000 words. Footnotes and endnotes are allowed within this word limit; appendices and a reference list or bibliography are not. The amount of space occupied by figures, tables, images, and other content should be measured in words per page or a fraction of a page.

Does obtaining a PhD require a TOEFL or IELTS score?

If English is not your first language and you have not previously attended a university in an English-speaking nation, you could be required to submit TOEFL or IELTS exam results as evidence of your language proficiency. You can find out if you need to take an English language test at your desired university.

She is an experienced writer and journalist who has extensively covered the education sector in India and Abroad. Now helping Indian aspirants realise their foreign education dream by providing them with relevant content and information through upGrad Abroad. Amateur traveller, loves to read Architectural Digest!

Exams to Study Abroad

Top study abroad destinations, important resources, get free consultation, similar articles.

IELTS EOR: Your Guide to Re-Marking Your IELTS Score

Describe Your Childhood Memories

Call us to clear your doubts at:

Download our App

Grievance Redressal
Experience Centers
Terms of Use
Privacy Policy
University Partner
Accommodation
IELTS Band Calculator
Download Study Abroad App
Education Loan Calculator
upGrad Abroad Office
Expense Calculator
Knowledge Base
Business Partner

Top Destinations

Masters programs.

MBA in Germany, IU
MIM in Germany, IU
MS in CS in Germany, IU
MS in Data Analytics in USA, Clark University
MS in Project Management in USA, Clark University
MS in IT in USA, Clark University
MS in Data Analytics & Visualization in USA, Yeshiva University
MS in Artificial Intelligence in USA, Yeshiva University
MS in Cybersecurity, Yeshiva University

Study Abroad Important Blogs

Cost of Study:
Cost of Studying in Canada
Cost of Studying in Ireland
Cost of Studying in Australia
Cost of living:
Cost of living in UK
Cost of living in Australia
Cost of living in Germany
Cost of living in Ireland
Cost of living in Canada
Career Opportunities:
Career Opportunities in Australia
Career Opportunities in Germany
Job Opportunities in After MS in Canada
Job Opportunities After MBA in Australia
Job Opportunities After MS in UK
IELTS Exam Resources:
IELTS Registration
Academic IELTS
IELTS Band Score
IELTS Writing Task 2
IELTS Slot Booking
IELTS Band Score Chart
IELTS Score for UK
IELTS Score for USA
Validity of IELTS Score
IELTS Speaking Topics
IELTS Reading Tips
How to Prepare for IELTS at Home Without Coaching
IELTS Preparation Books
Types of IELTS Exam
IELTS Academic vs General
IELTS Exam Fee
IELTS Exam Pattern
IELTS Results
IELTS Essay
IELTS Exam Dates
Top Streams:
Fashion Designing Courses in Australia
Accounting Courses in Canada
Management Courses in Canada

Youth Program
Wharton Online

PhD Program

Program of Study

Wharton’s PhD program in Finance provides students with a solid foundation in the theoretical and empirical tools of modern finance, drawing heavily on the discipline of economics.

The department prepares students for careers in research and teaching at the world’s leading academic institutions, focusing on Asset Pricing and Portfolio Management, Corporate Finance, International Finance, Financial Institutions and Macroeconomics.

Wharton’s Finance faculty, widely recognized as the finest in the world, has been at the forefront of several areas of research. For example, members of the faculty have led modern innovations in theories of portfolio choice and savings behavior, which have significantly impacted the asset pricing techniques used by researchers, practitioners, and policymakers. Another example is the contribution by faculty members to the analysis of financial institutions and markets, which is fundamental to our understanding of the trade-offs between economic systems and their implications for financial fragility and crises.

Faculty research, both empirical and theoretical, includes such areas as:

Structure of financial markets
Formation and behavior of financial asset prices
Banking and monetary systems
Corporate control and capital structure
Saving and capital formation
International financial markets

Candidates with undergraduate training in economics, mathematics, engineering, statistics, and other quantitative disciplines have an ideal background for doctoral studies in this field.

Effective 2023, The Wharton Finance PhD Program is now STEM certified.

Course Descriptions
Course Schedule
Dissertation Committee and Proposal Defense
Meet our PhD Students
Visiting Scholars

More Information

Apply to Wharton
Doctoral Inside: Resources for Current PhD Students
Wharton Doctoral Program Policies
Transfer of Credit
Research Fellowship

About / Departments

Finance Department | PhD Program

Phd program.

Our faculty, ranked #1 worldwide based on publications in top finance journals (ASU Finance Rankings), consists of more than 30 researchers who study all major areas of finance, making it one of the largest finance faculty in the country. Stern’s finance faculty is highly rated in terms of research output, and faculty members sit on the editorial boards of all major finance journals.

The finance department offers an exceptionally large range of courses devoted exclusively to PhD students. Apart from core PhD courses in asset pricing and corporate finance, students can choose from a range of electives such as household finance, macro-finance, and financial intermediation. PhD students also enjoy the benefits of Stern’s economics department, NYU’s economics department in the Graduate School of Arts and Science (GSAS), and the Courant Institute of Mathematics.

Graduates of Stern’s Finance PhD program have been placed at leading research institutions such as Harvard, MIT, Chicago, Stanford, Wharton, Yale, and UCLA.

Holger Mueller , Finance PhD coordinator

More information on the Finance PhD

Download the Finance PhD poster (PDF)

Explore Stern PhD

Meet with Us

PhD, Professor, and Postdoc Salaries in the United States

The United States is home to several of the world’s best universities making it a top destination for international researchers. Here’s a breakdown of the most common American job titles and their associated average annual salaries. All salary statistics in this article are in American Dollars (USD) and are pre-tax.

PhD Student

A Master’s degree is not always required to do a PhD in the US. Several top universities offer direct entry PhD programs. An American PhD begins with two to three years of coursework in order to pass qualifying exams. During this time doctoral students are able to develop their research interests and hone in on their thesis topic. They will then write a thesis proposal which must be approved before they can start their dissertation. Most programs require PhD students to gain two to three years of teaching experience as well, either by leading their own class or as teaching assistants for a professor. It takes an average of six years to earn a PhD in the US.

Unlike some European countries, there is no mandated minimum salary or national salary scale for PhD students in the US. PhD students ear n between $ 15,000 and $30,000 a year depending on their institution, field of study, and location. This stipend can be tax-free (if it is a fellowship award) or taxable (if it is a salary e.g from a teaching position). American PhD students are usually only paid for nine months of the year but many programs offer summer funding opportunities. A PhD funding package will also include a full or partial tuition waiver.

After earning a PhD, many researchers go on to a postdoc. A postdoc is a continuation of the researcher’s training that allows them to further specialize in a particular field and learn new techniques. Postdoc positions are usually two to three years and it is not unusual to do more than one postdoc. There is no limit on the number of years you can be a postdoc in the US. The average salary (2023 ) for postdocs in the US is $61,143 per year.

A lecturer is a non-tenure-track teaching position. They often have a higher teaching load than tenure track-faculty and no research obligations. These positions are more common in the humanities or as foreign language instructors. Lecturers hold advanced degrees, though not always PhDs. The average salary for a full time lecturer in 2021-2022 according to the American Association of University Professors was $69,499.

Assistant Professor

This is the start of the tenure track. An assistant professor is responsible for teaching, research, and service to the institution (committee membership). Assistant professors typically teach two to four courses per semester while also supervising graduate students. They are also expected to be active researchers and publish books, monographs, papers, and journal articles to meet their tenure requirements. The average salary for assistant professors in 2021-2022 was $85,063 according to the American Association of University Professors .

Associate Professor

An assistant professor who has been granted tenure is then promoted to an associate professor. An associate professor often has a national reputation and is involved in service activities beyond their university. The average salary for associate professors in 2021-2022 was $97,734 according to the American Association of University Professors .

This is the final destination of the tenure track. Five to seven years after receiving tenure, associate professors go through another review. If they are successful, they are promoted to the rank of professor (sometimes called full professor). Professors usually have a record of accomplishment that has established them as an international or national leader in their field. The average salary for professors in 2021-2022 according to the American Association of University Professors was $143,823.

Discover related jobs

Discover similar employers

Accelerate your academic career

The 7 Essential Transferable Skills All PhDs Have

During your PhD, you’re not just learning about your research topic. You...

6 Tips for Choosing Your Postdoc Lab

It can be difficult to know how to evaluate a different postdoc labs. Be...

Studying in the US on an F-1 Visa

Here's what you need to know as an international PhD student studying in...

How to Master an Informational Interview

Informational interviews are useful for anyone considering switching job...

Academic Salary Negotiations

Your academic job offer can be negotiated and the department expects tha...

6 Tips for Dealing with Exam Stress

These 6 tips will help you avoid stress so you don't feel overwhelmed an...

Jobs by field

Machine Learning 171
Artificial Intelligence 160
Electrical Engineering 155
Programming Languages 131
Molecular Biology 106
Materials Chemistry 97
Computational Sciences 97
Materials Engineering 91
Electronics 88
Engineering Physics 87

Jobs by type

Postdoc 325
Assistant / Associate Professor 170
Professor 119
Researcher 105
Research assistant 101
Lecturer / Senior Lecturer 68
Engineer 57
Tenure Track 53
Management / Leadership 47

Jobs by country

Belgium 254
Netherlands 177
Switzerland 125
Luxembourg 52

Jobs by employer

Mohammed VI Polytechnic Unive... 92
KU Leuven 84
ETH Zürich 69
Ghent University 66
Eindhoven University of Techn... 60
University of Luxembourg 50
KTH Royal Institute of Techno... 50
University of Twente 42
Karolinska Institutet 30

This website uses cookies

Jump to navigation

Search form

The Graduate School

Faculty/Staff Resources
Programs of Study Browse the list of MSU Colleges, Departments, and Programs
Graduate Degree List Graduate degrees offered by Michigan State University
Research Integrity Guidelines that recognize the rights and responsibilities of researchers
Online Programs Find all relevant pre-application information for all of MSU’s online and hybrid degree and certificate programs
Graduate Specializations A subdivision of a major for specialized study which is indicated after the major on official transcripts
Graduate Certificates Non-degree-granting programs to expand student knowledge and understanding about a key topic
Interdisciplinary Graduate Study Curricular and co-curricular opportunities for advanced study that crosses disciplinary boundaries
Theses and Dissertations Doctoral and Plan A document submission process
Policies and Procedures important documents relating to graduate students, mentoring, research, and teaching
Academic Programs Catalog Listing of academic programs, policies and related information
Traveling Scholar Doctoral students pursue studies at other BTAA institutions
Apply Now Graduate Departments review applicants based on their criteria and recommends admission to the Office of Admissions
International Applicants Application information specific to international students
PhD Public Data Ph.D. Program Admissions, Enrollments, Completions, Time to Degree, and Placement Data
Costs of Graduate School Tools to estimate costs involved with graduate education
Recruitment Awards Opportunities for departments to utilize recruitment funding
Readmission When enrollment is interrupted for three or more consecutive terms
Assistantships More than 3,000 assistantships are available to qualified graduate students
Fellowships Financial support to pursue graduate studies
Research Support Find funding for your research
Travel Funding Find funding to travel and present your research
External Funding Find funding outside of MSU sources
Workshops/Events Find opportunities provided by The Graduate School and others
Research Opportunities and programs for Research at MSU
Career Development Programs to help you get the career you want
Teaching Development Resources, workshops, and development opportunities to advance your preparation in teaching
Cohort Fellowship Programs Spartans are stronger together!
The Edward A. Bouchet Graduate Honor Society (BGHS) A national network society for students who have traditionally been underrepresented
Summer Research Opportunities Program (SROP) A gateway to graduate education at Big Ten Academic Alliance universities
Alliances for Graduate Education and the Professoriate (AGEP) A community that supports retention, and graduation of underrepresented doctoral students
Recruitment and Outreach Ongoing outreach activities by The Graduate School
Diversity, Equity, and Inclusion Funding Funding resources to recruit diverse students
Graduate Student Organizations MSU has over 900 registered student organizations
Grad School Office of Well-Being Collaborates with graduate students in their pursuit of their advanced degree and a well-balanced life
Housing and Living in MI MSU has an on and off-campus housing site to help find the perfect place to stay
Mental Health Support MSU has several offices and systems to provide students with the mental health support that they need
Spouse and Family Resources MSU recognizes that students with families have responsibilities that present challenges unique to this population
Health Insurance Health insurance info for graduate student assistants and students in general at MSU
Safety and Security MSU is committed to cultivating a safe and inclusive campus community characterized by a culture of safety and respect
Why Mentoring Matters To Promote Inclusive Excellence in Graduate Education at MSU
Guidelines Guidelines and tools intended to foster faculty-graduate student relationships
Toolkit A set of resources for support units, faculty and graduate students
Workshops Workshops covering important topics related to mentor professional development
About the Graduate School We support graduate students in every program at MSU
Strategic Plan Our Vision, Values, Mission, and Goals
Social Media Connect with the Graduate School!
History Advancing Graduate Education at MSU for over 25 years
Staff Directory
Driving Directions

PhD Salaries and Lifetime Earnings

PhDs employed across job sectors show impressive earning potential:

“…[T]here is strong evidence that advanced education levels continue to be associated with higher salaries. A study by the Georgetown Center on Education and the Workforce showed that across the fields examined, individuals with a graduate degree earned an average of 38.3% more than those with a bachelor’s degree in the same field. The expected lifetime earnings for someone without a high school degree is $973,000; with a high school diploma, $1.3 million; with a bachelor’s degree, $2.3 million; with a master’s degree, $2.7 million; and with a doctoral degree (excluding professional degrees), $3.3 million. Other data indicate that the overall unemployment rate for individuals who hold graduate degrees is far lower than for those who hold just an undergraduate degree.” - Pathways Through Graduate School and Into Careers , Council of Graduate Schools (CGS) and Educational Testing Service (ETS), pg. 3.

Average salaries by educational level and degree (data from the US Census Bureau, American Community Survey 2009-2011, courtesy of the Georgetown University Center on Education and the Workforce):

The Bureau of Labor and Statistics reports higher earnings and lower unemployment rates for doctoral degree holders in comparison to those with master’s and bachelor’s degrees:

According to national studies, more education translates not only to higher earnings, but also higher levels of job success and job satisfaction:

“Educational attainment – the number of years a person spends in school – strongly predicts adult earnings, and also predicts health and civic engagement. Moreover, individuals with higher levels of education appear to gain more knowledge and skills on the job than do those with lower levels of education and they are able, to some extent, to transfer what they learn across occupations.” - Education for Life and Work (2012), National Research Council of the National Academies, pg. 66.

Call us: (517) 353-3220
Contact Information
Privacy Statement
Site Accessibility
Call MSU: (517) 355-1855
Visit: msu.edu
MSU is an affirmative-action, equal-opportunity employer.
Notice of Nondiscrimination
Spartans Will.
© Michigan State University

Doctor of Finance Programs in America

1-17 of 17 results

Wharton School

Philadelphia, PA •

University of Pennsylvania •

Graduate School

• Rating 4.67 out of 5 15 reviews

Master's Student: Intensive but interesting. Great people, but professor quality varied. Lectures tend to be very interesting, but are high level in some cases. Coming from an engineering background, this felt "easy", but it is a different type of learning- more focused on the concepts than proving theories and underlying complexities. TAs are great and there is a lot of effort put towards making students understand the material. Since there isn't a sink or swim culture, I think it incentivizes learning for the sake of learning rather than curving to a "B". Professors are very friendly and actually enjoy getting to know their students. ... Read 15 reviews

University of Pennsylvania ,

Graduate School ,

PHILADELPHIA, PA ,

15 Niche users give it an average review of 4.7 stars.

Featured Review: Master's Student says Intensive but interesting. Great people, but professor quality varied. Lectures tend to be very interesting, but are high level in some cases. Coming from an engineering background, this felt "easy",... Professors are very friendly and actually enjoy getting to know their students. .

Read 15 reviews.

Kellogg School of Management

Evanston, IL •

Northwestern University •

• Rating 4.82 out of 5 17 reviews

Master's Student: Kellogg's MBA program at Northwestern University stands out for its collaborative environment, rigorous curriculum, and emphasis on experiential learning. With a focus on teamwork and diverse perspectives, students engage in group projects and case competitions to develop essential leadership skills. The curriculum offers customization options through electives and experiential opportunities, including internships and global immersion trips. Kellogg's strong alumni network and industry connections provide valuable career support, ensuring students are well-prepared for success in their chosen fields. Overall, Kellogg offers a dynamic and immersive MBA experience that equips students to excel as future business leaders. ... Read 17 reviews

Northwestern University ,

EVANSTON, IL ,

17 Niche users give it an average review of 4.8 stars.

Featured Review: Master's Student says Kellogg's MBA program at Northwestern University stands out for its collaborative environment, rigorous curriculum, and emphasis on experiential learning. With a focus on teamwork and diverse... .

Read 17 reviews.

Tepper School of Business

Pittsburgh, PA •

Carnegie Mellon University •

• Rating 4.73 out of 5 11 reviews

Master's Student: Embarking on Carnegie Mellon's Master in Business Analytics promises unparalleled growth. Its esteemed reputation in academia assures an intellectually stimulating environment, fostering collaboration and innovation. The meticulously crafted curriculum equips students with advanced analytical skills and a deep understanding of business dynamics. Beyond coursework, experiential learning opportunities abound, from hackathons to industry partnerships. Moreover, the vibrant community fosters inclusivity and camaraderie, enriching the overall experience. With each lecture and interaction, I anticipate expanding my knowledge, honing my skills, and becoming a catalyst for positive change. Carnegie Mellon's program is not just an education; it's a transformative journey toward personal and professional excellence. ... Read 11 reviews

Blue checkmark.

Carnegie Mellon University ,

PITTSBURGH, PA ,

11 Niche users give it an average review of 4.7 stars.

Featured Review: Master's Student says Embarking on Carnegie Mellon's Master in Business Analytics promises unparalleled growth. Its esteemed reputation in academia assures an intellectually stimulating environment, fostering... .

Read 11 reviews.

Leonard N. Stern School of Business

New York, NY •

New York University •

• Rating 4.82 out of 5 28 reviews

Master's Student: As a part-time MBA candidate at NYU Stern, I'm deeply impressed by the program's blend of academic rigor and practical application. The faculty, industry leaders in their own right, provide invaluable insights, fostering a rich learning environment. The diversity among my peers enhances our discussions, offering varied perspectives on business challenges. Stern's location in NYC is ideal for networking and accessing career opportunities, which is crucial for a working professional like me. The flexibility of evening and weekend classes allows me to balance my professional and academic commitments effectively. Stern equips students with advanced business knowledge and fosters personal and professional growth, making it an exceptional choice for anyone aspiring to excel in the business world. ... Read 28 reviews

New York University ,

NEW YORK, NY ,

28 Niche users give it an average review of 4.8 stars.

Featured Review: Master's Student says As a part-time MBA candidate at NYU Stern, I'm deeply impressed by the program's blend of academic rigor and practical application. The faculty, industry leaders in their own right, provide... .

Read 28 reviews.

Carroll School of Management

Chestnut Hill, MA •

Boston College •

• Rating 5 out of 5 2 reviews

Master's Student: I am currently enrolled in the part time, professional evening MBA program. So far it has brought me to communicate with like minded individuals and the professors truly want to see you succeed so they will go out of their way to connect with you and help you. ... Read 2 reviews

Boston College ,

CHESTNUT HILL, MA ,

2 Niche users give it an average review of 5 stars.

Featured Review: Master's Student says I am currently enrolled in the part time, professional evening MBA program. So far it has brought me to communicate with like minded individuals and the professors truly want to see you succeed so... .

Read 2 reviews.

McCombs School of Business

Austin, TX •

University of Texas - Austin •

• Rating 4.67 out of 5 12 reviews

Master's Student: Being in the accounting program at UT Austin has been a remarkable opportunity for me. The best part of being an accounting major at McCombs is the diverse set of classes that students can utilize to explore different interests within business and broaden their career opportunities. The worst part of being at McCombs is the competitive environment, although it incentivizes students to work harder, it can be mentally draining to constantly try to outperform one's peers. ... Read 12 reviews

University of Texas - Austin ,

AUSTIN, TX ,

12 Niche users give it an average review of 4.7 stars.

Featured Review: Master's Student says Being in the accounting program at UT Austin has been a remarkable opportunity for me. The best part of being an accounting major at McCombs is the diverse set of classes that students can utilize to... .

Read 12 reviews.

Find college scholarships

Mays Business School

College Station, TX •

Texas A&M University •

• Rating 2 out of 5 3 reviews

Graduate Student: Im starting in the summer and my experience has been great. I will be entering as an MD/MBA student starting with the MBA. ... Read 3 reviews

Texas A&M University ,

COLLEGE STATION, TX ,

3 Niche users give it an average review of 2 stars.

Featured Review: Graduate Student says Im starting in the summer and my experience has been great. I will be entering as an MD/MBA student starting with the MBA. .

Read 3 reviews.

Eli Broad College of Business

East Lansing, MI •

Michigan State University •

• Rating 5 out of 5 1 review

Current Master's student: The program has exelcent professors and organization which is appreciated since I am attending the EMBA program and do not want to waste time. ... Read 1 review

Michigan State University ,

EAST LANSING, MI ,

1 Niche users give it an average review of 5 stars.

Featured Review: Current Master's student says The program has exelcent professors and organization which is appreciated since I am attending the EMBA program and do not want to waste time. .

Read 1 reviews.

Culverhouse College of Business

Tuscaloosa, AL •

The University of Alabama •

The University of Alabama ,

TUSCALOOSA, AL ,

University of Connecticut School of Business

Storrs, CT •

University of Connecticut •

• Rating 4.75 out of 5 8 reviews

Master's Student: I like the diversity of students - ethnicities, work backgrounds, ages, and life experiences. I also love the strong reputation that UConn has. ... Read 8 reviews

University of Connecticut ,

STORRS, CT ,

8 Niche users give it an average review of 4.8 stars.

Featured Review: Master's Student says I like the diversity of students - ethnicities, work backgrounds, ages, and life experiences. I also love the strong reputation that UConn has. .

Read 8 reviews.

Charles H. Lundquist College of Business

Eugene, OR •

University of Oregon •

• Rating 5 out of 5 6 reviews

Master's Student: This is my first year, but all the information I have received and the "pre classes" I have attended have been excellent. ... Read 6 reviews

University of Oregon ,

EUGENE, OR ,

6 Niche users give it an average review of 5 stars.

Featured Review: Master's Student says This is my first year, but all the information I have received and the "pre classes" I have attended have been excellent. .

Read 6 reviews.

Louisiana State University - College of Science

Baton Rouge, LA •

Louisiana State University •

Louisiana State University ,

BATON ROUGE, LA ,

Sponsored Find Student Loan Options
Law Schools
Public Administration Graduate Programs

J. Mack Robinson College of Business

Atlanta, GA •

Georgia State University •

• Rating 3.5 out of 5 6 reviews

Master's Student: I am a student at Robinson college of business at Georgia State University. The courses are excellent and provide you with a great opportunity to enhance your knowledge. Most of the professors at RCB are good, and they use multiple ways to evaluate students. ... Read 6 reviews

Georgia State University ,

ATLANTA, GA ,

6 Niche users give it an average review of 3.5 stars.

Featured Review: Master's Student says I am a student at Robinson college of business at Georgia State University. The courses are excellent and provide you with a great opportunity to enhance your knowledge. Most of the professors at RCB... .

College of Business - University of Texas - San Antonio

San Antonio, TX •

University of Texas - San Antonio •

Master's Student: I first attended UTSA in 2007 and graduated with my bachelors in 2009. My education opened up opportunities for me in the healthcare field. While at UTSA I felt the environment was conducive to learning and there were resources available to me to help me succeed. I've worked my way through school as an undergraduate and will do so as a graduate student. UTSA has classes available to fit my schedule and it is affordable. I hope attending graduate school will open up new opportunities for me and help me to fulfil my dreams of becoming a hospital executive. ... Read 1 review

University of Texas - San Antonio ,

SAN ANTONIO, TX ,

Featured Review: Master's Student says I first attended UTSA in 2007 and graduated with my bachelors in 2009. My education opened up opportunities for me in the healthcare field. While at UTSA I felt the environment was conducive to... .

Falls School of Business

Anderson, IN •

Anderson University - Indiana •

Anderson University - Indiana ,

ANDERSON, IN ,

Capella University

Minneapolis, MN •

• Rating 4.61 out of 5 973 reviews

Doctoral Student: Capella University offers comprehensive online programs for adult learners, focusing on academic excellence and practical skills. The university's flexible learning environment enables students to juggle their studies with work and family obligations. Students are prepared by the university's emphasis on practical skills and real-world applications. The faculty is supportive and responsive, and Capella's innovative use of technology provides an interactive learning experience. As a leader in online education, I believe it's an excellent choice for those balancing education with their lifestyle. I started at Capella University when I decided to further my education and change my field from pharmacy technician to healthcare administrator. I finished my bachelor's and master's of healthcare administration from Capella University. I am so happy with my achievements and would like to pursue my doctoral degree in healthcare administration to advance in my job. ... Read 973 reviews

MINNEAPOLIS, MN ,

973 Niche users give it an average review of 4.6 stars.

Featured Review: Doctoral Student says Capella University offers comprehensive online programs for adult learners, focusing on academic excellence and practical skills. The university's flexible learning environment enables students to... .

Read 973 reviews.

Inter American University of Puerto Rico

San Juan, PR •

• Rating 4.6 out of 5 5 reviews

Doctoral Student: I am grateful that I have professors working hard every day to make the experience of online classes, less tedious and more active and entertaining. Therefore, it helps me go through classes more smoothly and more openminded about the current situation we are all going through right now. I honestly cant be more grateful about my professors work and resilience. They are a very good example for us all. ... Read 5 reviews

SAN JUAN, PR ,

5 Niche users give it an average review of 4.6 stars.

Featured Review: Doctoral Student says I am grateful that I have professors working hard every day to make the experience of online classes, less tedious and more active and entertaining. Therefore, it helps me go through classes more... .

Read 5 reviews.

Showing results 1 through 17 of 17

PhD Handbook

PhD in Finance ...

PhD in Finance in USA: Best Universities for PhD in Finance in USA

USA happens to be one of the most sought after destinations for a PhD. The program structure here allows you to get a lot of training alongside research which is not common in the European countries or UK is what makes it desirable. Usually, master of finance graduates plan to get a PhD but it is also a good option for MBA in USA graduates to advance their careers. After a PhD in finance in USA, you can either go on the path to become a professor or take the road to work with global companies.

We have prepared a guide including best universities for PhD in finance in USA, eligibility criteria, admission process, cost of studying, scholarships, future opportunities and a lot more to help you grab the best opportunities to pursue PhD in finance from USA.

Why Study PhD in Finance in USA?

US universities dominate almost all major rankings. If we talk about the QS World University Rankings by Subject for Accounting and Finance, 73 universities are included in the list of top universities.
USA spends enormous amounts on research and development and is said to be ahead of several other countries in terms of innovation.
The rigor of curriculum offered at US universities is much higher in standard than research programs at other institutions.
US universities offer state-of-art research infrastructure which attracts aspirants from all around the world.

Best Universities for PhD in Finance in USA

A PhD is a long duration course so be assured that you choose your university wisely considering accreditation, co-curricular factors, facilities, faculty, location, etc. Here is a list of the 5 best universities for PhD in finance in USA:

Massachusetts Institute of Technology
University of Chicago
Stanford University
University of California, Berkeley
University of Pennsylvania

Discussed below are the insights of these 5 universities including ranking, specializations and tuition fees can be seen below:

1. Massachusetts Institute of Technology

PhD in finance at Massachusetts Institute of Technology is offered under the MIT finance group. The program duration can be categorized into coursework, seminar, general examination, research paper and dissertation.

2. University of Chicago

For pursuing PhD in finance at University of Chicago , you will get full tuition support for 5-6 years of your full-time study. Additionally, the university gives you the opportunity to work as a teaching assistant in the third and fourth year.

3. Stanford University

At Stanford University , your PhD program will come with a five year funding guarantee which includes tuition, assistantship salary and fellowship stipend. Phd programs have been a constant preference for most international students to pursue here.

4. University of California, Berkeley

The Haas School of Business at University of California, Berkeley offers a five year, fully funded PhD in finance program that aims to integrate modern developments in the field of finance. The course expects the student to have a strong background in mathematics and statistics.

5. University of Pennsylvania

The finance faculty at the Wharton School of Business is one of the most renowned faculties of University of Pennsylvania . The ideal candidate for a PhD at Wharton should have a background in economics, mathematics, statistics, engineering and other quantitative disciplines.

Course Curriculum for PhD in Finance in USA

Although a US PhD degree is longer than a UK degree, it has its own benefits and gives candidates the time to get a better hold and develop expertise in the subject area. Discuss in the table below the course curriculum for PhD in finance in USA:

Eligibility Criteria for PhD in Finance from USA

The PhD in finance in USA requirements may vary from one university to another. Before looking at the cost of studying PhD in USA, let us understand the basic eligibility criteria for the same:

Completed master’s degree
English language proficiency requirements
Entrance test scores

Take a look at the detailed discussion on eligibility criteria to study PhD in finance in US:

1. Completed master’s degree

To pursue PhD in finance in USA, you must have a master’s degree in finance from a recognized institution equivalent to a US master’s degree. A minimum GPA of 3.0 or above is required.

Suggested: MS in finance in USA

2. English language proficiency requirements

As international students, you will have to provide proof of English language proficiency if your native language is not English. IELTS and TOEFL are among the most widely accepted test scores. A minimum IELTS score of 6.5 or a TOEFL-iBT score of 90 or above is recommended.

3. Entrance test scores

Before enrolling for a PhD in finance in USA, you may be asked for your GMAT or GRE scores. You may not have to take the test again as you must have already taken it before applying for your master’s degree.

Suggested: MS in USA

Documents Required to Study PhD in Finance from USA

It is crucial to understand the PhD in finance in USA requirements to complete the application process hassle-free. Listed below are the documents that most institutions will ask you to submit:

Transcripts of academic records from all previous post-secondary institutions
Test scores of GMAT/ GRE
English language proficiency test scores
Research proposal
Writing sample
Letters of recommendation
Personal statement
Copy of passport
Proof of finances

Admission Process for PhD in Finance in USA

Here is the step-by-step process to apply for PhD in finance in US:

Check the eligibility criteria for your chosen institution before applying.
Visit the official university website and look for the upcoming intake and application deadlines.
Complete the online application for admission and pay the necessary application fee, which usually ranges between 100 USD-150 USD.
Gather all documents to be submitted along with the application.
Once you complete the application and submit all relevant documents, keep an eye on the university website to get updates on your application.
You may be called for an interview and be asked about your research proposal before getting the acceptance letter.
If you are accepted, fulfill the enrollment requirements and apply for a visa to study in USA.

Suggested: USA student visa guide

How Much Does it Cost to Study for a PhD in Finance in USA?

Getting a PhD in USA requires a huge sum of investment. The cost of studying for a PhD in finance in USA can be categorized into tuition fees and cost of living. Let us consider the costs for each of these components.

Tuition Fees

The tuition fees for PhD in finance in USA ranges between 35,000 USD - 70,000 USD per year. You can find programs with lower tuition fees at public universities.

Suggested: Phd in USA cost for Indian students

Cost of Living

An international student’s cost of living in USA is estimated at around 12,000 USD-18,000 USD per year i.e. 1000 USD-1,500 USD per month, varying according to the student’s budget. It is true that the living expenses in USA are higher compared to many other study abroad destinations. However, affordable options are available to choose from, such as various accommodation options, public transport, personal expenses, etc.

Scholarships for PhD in Finance in USA

You will find multiple funding options for pursuing research in USA. Most US universities offer fully funded PhD programs , so you do not have to fret about the huge tuition fees. Take a look at the table below to learn about the various university-provided scholarships for international students:

Career Opportunities After PhD in Finance in US

Accounting and finance professionals in USA earn 97,600 USD per year on average. With a PhD in finance from USA, you can expect 23% higher salaries than a master’s degree. New York, Houston, Los Angeles, Philadelphia are some of the states offering the highest salaries compared to other cities in USA.

Take a look at the popular job titles and average salaries for PhD in finance from USA:

Suggested: How to find jobs in USA?

A PhD in finance in USA is worth considering to advance your career and boost your earning potential. Get in touch with our Yocket counsellors today and get answers to all your questions related to PhD in finance in USA and a roadmap to secure a seat in one of the best universities for a PhD in finance in USA.

Frequently Asked Questions about PhD in Finance in USA

How many years is a PhD in finance in USA?

A PhD in finance in USA takes 4 to 6 years depending on the candidate’s knowledge level. Generally, an individual spends around 2-4 years in the coursework and another 2-4 years on the dissertation.

How much does it cost to do a PhD in finance in USA?

The annual fees for PhD in finance in USA is somewhere between 30,000 USD-55,000 USD per year which may vary across universities.

Can Indian students get a scholarship to pursue PhD in finance in USA?

Yes, there are several scholarships for Indian students to pursue PhD in finance in USA, such as Fulbright Scholarship, Knight-Hennessy Scholars program, Aga Khan Foundation International Scholarship program and several other university-specific scholarships.

Can I apply for PhD in finance with an MBA in finance?

Yes, you can apply for a PhD in finance with an MBA in finance.

Is it better to do PhD in finance in USA from a private or public university?

Both types of universities have equally good options to pursue PhD in finance in USA. If you wish to apply to public universities in USA some of the best options are University of California - Berkeley, Georgia Institute of Technology, University of Illinois - Urbana, etc. Top private universities include Stanford University, Massachusetts Institute of Technology, Yale University, among others.

Sumeet Jain

Articles you might like

Research Voyage

Research Tips and Infromation

Unlocking PhD Salaries and Opportunities

The pursuit of a PhD represents a pinnacle of academic achievement, epitomizing years of rigorous study, research, and expertise in a specific field. For many, this educational journey is a labour of love, driven by a passion for knowledge and a desire to contribute to the global pool of understanding. However, as one nears the end of this formidable academic odyssey, questions about what lies beyond the ivory tower become increasingly pertinent.

Among the myriad concerns that occupy the mind of a PhD candidate nearing graduation, one that often looms large is the financial aspect. What can one expect in terms of compensation and career opportunities after investing so much in education and research? Understanding the salary landscape for PhD holders is crucial not only for financial planning but also for making informed decisions about the direction of one’s career.

PhD salaries encompass a wide spectrum of earnings based on fields, regions, and industry choices. In academia, postdocs start at around $40,000 while tenured professors can earn $90,000 and above. Private sector salaries often range from $70,000 to well over $150,000, influenced by specialization and experience.

In this article, we delve into the multifaceted world of post-PhD salaries, exploring the diverse factors that influence earnings. From the impact of one’s field of study and geographic location to the varying opportunities within academia, private industry, and public sectors, we aim to provide insights that can assist both current PhD candidates and those navigating their early careers post-doctorate.

Join us on this exploration as we unravel the intricacies of salary expectations for those who have achieved the esteemed PhD, shedding light on the possibilities that await beyond the academic threshold. Through comprehensive analysis and a global perspective, we endeavour to empower individuals to navigate their professional journey with clarity and confidence.

Introduction

How different fields influence phd salary expectations:, how cost of living and job demand in specific regions impact salaries:, variations in phd salary based on working in academia, private sector, government, or non-profit organizations:, typical salary range for postdocs in various fields:, salary expectations for entry-level faculty positions:, salaries increase with experience and tenure:, phd salary ranges in private companies related to different fields of study:, potential salaries in public service or non-profit organizations:, comparing salaries in different countries and regions for phd holders:.

International Factors Affect PhD Salary - Exchange Rates and Cost of Living:

Salary Comparison Table for PhD Holders

Importance of networking for better job opportunities and salaries:, encouraging ongoing skill development to stay competitive in the job market:, advice on negotiating salaries and benefits effectively:.

Before We Conclude....

Embarking on the path of a PhD is a significant intellectual and academic commitment, representing a scholarly voyage of deep exploration and expertise acquisition in a specialized area of knowledge. It is a journey marked by tireless research, critical analysis, and the creation of original contributions to the academic community. Graduating with a PhD is a hallmark moment, but it also raises important questions about the practical implications of this significant achievement.

Take, for instance, Dr. Sarah, who recently completed her PhD in Environmental Science. After years of devoted research on sustainable agricultural practices, climate change, and environmental policy, she now finds herself standing at the crossroads of academic and professional life. Like many PhD holders, Sarah is eager to apply her expertise and make a tangible difference in her field, but she is also keenly aware of the financial considerations that come with this next step.

This article seeks to address the crucial and often intricate matter of post-PhD salaries. It aims to unravel the enigma surrounding the financial aspect of life after the doctorate, a subject that is of paramount importance to those who have invested years in pursuit of advanced education. The purpose here is to shed light on the salary expectations that individuals with a PhD can anticipate across various sectors, fields of study, and global locations.

Just like Sarah, countless PhD graduates stand on the verge of a new phase in their careers. Understanding the earning potential, salary ranges, and factors that influence compensation is instrumental in making informed decisions. This article endeavours to provide a comprehensive guide, offering insights into the diverse avenues available for Ph.D. holders, and empowering them to navigate the professional landscape with foresight and financial prudence.

Factors Influencing PhD Salary

The field of study significantly impacts post-PhD salaries. For instance, a PhD holder in Computer Science might find higher-paying opportunities compared to someone in Sociology. This is due to the demand for specific skill sets and expertise in the job market. Let’s consider Dr. Alex, a PhD holder in Artificial Intelligence. As the tech industry continues to expand rapidly, professionals with expertise in AI are in high demand, often commanding lucrative salaries in both academia and the private sector.

Geographical location plays a pivotal role in determining PhD salaries. The cost of living, job demand, and regional economic conditions all influence compensation levels. For example, Dr. Emily, a PhD holder in Economics, might find higher-paying opportunities in urban centres like New York City or London due to the higher cost of living and increased demand for economists in financial hubs.

The industry or sector in which a PhD graduate works also heavily impacts their salary. Those in academia, while contributing to knowledge and education, may generally have different salary expectations compared to their counterparts in the private sector. For instance, Dr. Michael, with a PhD in Business Administration, may choose to work in a corporate role, often leading to higher remuneration and additional benefits compared to a position in a non-profit organization focused on social impact.

PhD Salaries in Academia

Postdoctoral positions are a common starting point for many PhD holders aiming for an academic career. Salaries can vary based on the field and location. For example, Dr. Ahmed, who completed his PhD in Biology and secured a postdoc position at a research institution, can expect a salary range of approximately $40,000 to $60,000 per year. However, in specialized fields like biomedical research, postdocs may earn higher, sometimes up to $70,000 annually.

As a PhD graduate progresses to an assistant professor position, the salary range increases. For instance, Dr. Sarah, who recently transitioned to an assistant professor role in Psychology at a reputable university, could expect a salary between $60,000 to $90,000 annually. This range may vary based on factors such as the university’s prestige, geographic location, and the demand for expertise in the field.

As faculty members gain experience and achieve tenure, their salaries typically increase. Dr. Johnson, who has been a tenured professor in Computer Science for over a decade, might earn a salary ranging from $90,000 to well over $150,000 annually, depending on the university’s profile and the region’s cost of living. Full professors, having extensive experience and research contributions, may even earn higher, especially in renowned institutions or in high-cost-of-living areas.

PhD Salaries Outside Academia

In the private sector, salaries for PhD holders can vary widely based on the industry and field of study. For example, Dr. Michael, who holds a PhD in Data Science, might secure a position in a tech company and command a salary ranging from $90,000 to $120,000 per year, given the high demand for data science expertise. On the other hand, Dr. Laura, with a PhD in Marketing, might find positions in consumer research or advertising agencies, earning a comparable salary range in a different industry.

PhD graduates often find fulfilling opportunities in government agencies or non-profit organizations. In these sectors, salaries may vary based on the role, responsibilities, and level of experience.

For instance, Dr. Patel, with a PhD in Public Health, might join a government health department and earn a salary ranging from $60,000 to $100,000 annually, depending on the specific position and location. Similarly, Dr. Nguyen, with a PhD in Education, could work for a non-profit focused on educational development, earning a salary in the range of $50,000 to $80,000 per year.

International Perspective

Salaries for PhD holders can vary significantly on a global scale. For instance, a PhD holder in Computer Science in the United States might earn an annual salary ranging from $70,000 to $150,000. In contrast, in India, a PhD holder in a similar field may earn a range of approximately $10,000 to $30,000 per year. The variation is influenced by factors such as the country’s economic development, demand for specialized skills, and cost of living.

International Factors Affect PhD Salary – Exchange Rates and Cost of Living:

Exchange rates and cost of living are crucial factors affecting salaries for PhD holders in different countries. Consider Dr. Anderson, a PhD holder in Environmental Engineering. If she relocates from the United Kingdom, where she earns £50,000 annually, to Switzerland, a country with a higher cost of living and strong currency, her equivalent salary might be around CHF 80,000. However, despite the seemingly higher salary, the increased cost of living might offset the apparent financial advantage.

Approximate salary comparison table for PhD holders based on working in academia, private sector, government, or non-profit organizations:

Please note that these figures are approximate and can vary based on several factors including location, experience, specific organization, and field of study.

Tips for Maximizing Salary Potential

Networking is paramount for advancing in any career. Dr. Rodriguez, a PhD holder in Finance, attended industry conferences, where she met professionals and academics. Through these connections, she was introduced to job openings that weren’t publicly advertised. Networking helped her secure a position as a financial consultant with a significantly higher salary than she initially anticipated.

Continuous learning and skill development are essential to stay competitive. Dr. Chen, a PhD holder in Artificial Intelligence, regularly took online courses to enhance his programming and machine learning skills. His dedication to staying updated with the latest technologies made him an attractive candidate for a leading tech company, and he was able to negotiate a higher salary based on his specialized expertise.

Dr. Davis, a PhD holder in Business Administration, stressed the importance of negotiation. When offered a position as a senior researcher in a biotech company, he researched industry salary standards and prepared a compelling case for a higher salary and additional benefits. Through effective negotiation, he secured a salary 15% higher than the initial offer, along with flexible work hours.

Before We Conclude….

Please visit my article category RESEARCH CAREERS for various career opportunities for PhD candidates before and after completion of PhD.

Here’s a tabular format listing prominent companies across various domains along with their respective URLs for PhD related career opportunities:

Please note that URLs and job opportunities may change over time, so it’s advisable to visit the respective company websites for the most up-to-date information on job openings and careers.

In this comprehensive exploration, we have dissected the various dimensions of salary expectations after obtaining a PhD. We started by understanding the factors influencing salaries, both within academia and beyond. From field of study and location to industry choice, these factors play a crucial role in determining one’s earning potential. We then examined the diverse salary landscapes in academia, private industry, government, and non-profit sectors. Furthermore, we emphasized the international perspective, shedding light on how salaries differ on a global scale. Lastly, we provided valuable tips on maximizing salary potential through networking, skill development, and effective negotiation.

Armed with the insights presented in this article, we encourage all aspiring and current PhD candidates to delve deeper into the salary landscapes of their respective fields. Further research, consultations with career advisors, and networking within their communities can provide a clearer picture of what to expect post-PhD. Knowledge is the cornerstone of success, and by acquiring a comprehensive understanding of salary expectations, individuals can confidently steer their career paths towards prosperity and fulfilment.

Upcoming Events

Visit the Upcoming International Conferences at Exotic Travel Destinations with Travel Plan
Visit for Research Internships Worldwide

phd in finance salary in usa

IMAGES

VIDEO

COMMENTS

The 10 Best PhD Programs in Finance

Why Get a Doctorate in Finance?

Jobs and Salaries for Doctors of Finance

Read More: The Highest Paying PhD Programs

Read Next: The Average Cost of a Master’s Degree in Finance

The University of Pennsylvania, The Wharton School

The University of Chicago, Booth School of Business

The University of Illinois at Urbana-Champaign, Gies College of Business

Massachusetts Institute of Technology, Sloan School of Management

Northwestern University, Kellogg School of Management

The University of California Berkeley, Haas School of Business

The University of Texas at San Antonio, Alvarez College of Business

Liberty University, School of Business

Northcentral University

Things To Consider When Choosing a Finance PhD Program

Preparing for a Finance Doctorate Program

Skills You Gain from Earning a PhD in Finance

PhD Programs in Finance FAQs

Is It Worth Getting a PhD in Finance?

How Much Can You Make With a PhD in Finance?

What Do You Need To Get a PhD in Finance?

Final Thoughts

Lisa Marlin

The 7 Best Student Planner Apps

Tech Talent Crunch: Cities with More Jobs Than Workers

The Most Under-Rated Career Advancement Tip for 2024

Top 5 Best Psychology PhD Programs in 2024

Good News For Early Careers: Skills-Based Hiring is Surging

Leave a Reply Cancel reply

Recent Posts

FellowshipBard

How much money do people make with a PhD in Finance?

What is expected job growth with PhD in Finance?

What can you do with a PhD in Finance?

Looking For Scholarship Programs? Click here

Looking For Fully Funded PhD Programs? Click Here

What are the Best PhD in Finance Degree programs?

Never Miss Any Research Opportunity! Join Our Telegram Channel

Build a Career You'll Love

Highest Paying Cities for Phd In Finance in the United States

Most Common Benefits for Phd In Finance

Where can I get a higher Phd In Finance salary in the United States?

Top Streams

Top Specialization

Top Universities

Top Resources

Top Courses

Colleges & Courses

More About France

About Finland

IELTS Reading Answers Sample

IELTS Speaking Cue Card Sample

IELTS Essay Sample Sample

GRE Exam Study Material

Other Resources

Free GRE Ebooks

GMAT Exam Study Material

Free GMAT Ebooks

TOEFL Exam Study Material

Free TOEFL Ebooks

PTE Exam Study Material

Free PTE Ebooks

Duolingo Exam Study Material

Free Duolingo Ebooks

NEET & MCAT Exam

SAT & ACT Exam

USMLE & OET Exam

PLAB & LSAT Exam

Application Process

Career Prospects

Trending Topics

Country Guides

Exams Guides

Recommended Reads

GPA CALCULATOR Convert percentage marks to GPA effortlessly with our calculator!

Your Guide to a PhD in Finance in USA

Updated on 04 March, 2024

Shivangi Mishra

Table of Contents

Career Opportunities After PhD in Finance in US