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Ph.D. in Finance is a 3-year doctorate level course, the minimum eligibility for which is the successful completion of post-graduation in Commerce subjects like Accountancy, Mathematics, and Economics. 

Admission to the course is based on the candidate’s performance in a relevant entrance test conducted by most of the universities offering the course. Qualification of the entrance test is followed by a round of personal interview in some cases.

Such postgraduates are hired in capacities such as: 

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

The average tuition fee charged for the course in India ranges between INR 2,000 and 5 Lacs. On the other hand, the average monthly salary offered to a fresh postgraduate of the course lies between INR 25,000 and 40,000 per month, increasing with experience and expertise.

Top Colleges for Ph.D. (Finance)

  • Ph.D. (Finance) in Uttar Pradesh
  • M.Phil/Ph.D in Management in Delhi-NCR
  • M.Phil/Ph.D in Management in Maharashtra
  • M.Phil/Ph.D in Management in Chennai
  • M.Phil/Ph.D in Management in Uttar Pradesh
  • M.Phil/Ph.D in Management in Telangana

Ph.D. in Finance: Course Highlights

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

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

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

Finance is the study of Financial Planning, Economics, Accounting and other similar areas of operation in any organization or business. It is the complete management of heavy amount of money, particularly by governments or large organizations. Students seeking a Ph.D. in Finance are trained in Statistics, Economics, Investments and Corporate Finance Theory. In this doctorate-level program, students also explore markets and financial products.

A Ph.D. in Finance is a research-driven course which leads to an advanced-level academic and research career. Ph.D. graduates act as Consultants, or perform further research, or teach as faculty members in the Finance departments of universities. Some programs may also require them to already have a Master's in Business Administration.

Top Institutes offering Ph.D. in Finance

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

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

Eligibility for Ph.D. in Finance

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

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

Ph.D. in Finance: Admission Process

Admission process for Ph.D. in Finance is different for most of the universities. Mostly, candidates need to appear for the admission process which comprises:

  • Written Entrance Exam.

  • Personal Interview

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

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

Ph.D. in Finance: Syllabus and Course Description

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

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

Ph.D. in Finance: Career Prospects

Ph.D. in Finance offers a lot of career opportunities to successful postgraduates. A postgraduate, upon successful completion of the course can initially join as a trainee or an Accountant. Accountants can also seek employment in various sectors such as:

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

Experts in this profession can find employment across different colleges and universities. they may even work as freelancers, taking assignments from small venture for maintaining their accounts on daily or weekly basis. There are lots of job opportunities available in India as well as in foreign countries for chartered accountants.

Some of the popular professional avenues open to successful postgraduates of the course are listed below with the corresponding salaries offered for the respective positions.

Job PositionJob DescriptionAverage Annual Pay Scale in INR
StockbrokerA Stockbroker is fundamentally connected with a brokerage firm or broker dealer. They purchase and offer stocks and differing securities for both retail and institutional customers through a stock exchange or over the counter as a symptom of a cost or commission.3,25,000

A Statistician is someone who works with theoretical or applied statistics. The profession exists in both private and public sectors.

It is common to combine statistical knowledge with expertise in other subjects, and statisticians may work as employees or as statistical consultants.

Relationship ManagerA Relationship Manager is someone who attempts to enhance a firm's relationships with both partner firms and clients. Their duties include building and maintaining relationships with clients and key personnel within customer companies.5,95,478
CFAA CFA works for businesses or individuals, providing their clients an analysis on companies, stocks, and investments. A certified CFA advises businesses and individuals regarding investment decisions.1,157,000
Financial ManagersFinancial Managers are responsible for the financial health of an organization. They create direct investment activities, financial reports, and systems and plans for the long term financial goals of their organization.9,56,578

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