If you have gone as far as you feel you can go in your finance career, or you’re looking to change the trajectory of your career, the solution may be to get a Ph.D in Finance. Though most people stop at the master’s degree in finance, Ph.D programs are available, and they can provide other options for your career.
What a Ph.D in Finance Can Do For You
A master’s program typically focuses on both theory and application, giving the professionals the tools they’ll need to work in the corporate environment. A Ph.D program focuses on finance theory, and it is designed to produce researchers and teachers. Most who earn a Ph.D in Finance go on to work in a university setting, either completing academic research, teaching undergraduate or graduate courses, or doing a combination of both.
Some who earn a Ph.D in Finance also use it to attain advanced positions in the world of finance.
Ph.D Coursework
The requirements for completing a Ph.D vary by program; however, most require at least some coursework, according to the Wharton School of Business. Most programs require at least one to two years of classes, which focus on advanced-level finance topics. Many programs have a heavy emphasis on economics.
Many Ph.D programs employ a different style for courses. Instead of typical courses where students sit in front of a professor and listen to a lecture, many Ph.D courses are seminar style. Students are asked to lead the seminars, with the professors standing by to answer questions or to offer guidance to keep the discussion on track.
Original Research
The primary component of the Ph.D in finance is conducting original research. Not only will you have to write many long research papers for coursework when you get a Ph.D in Finance, but you will also have to complete a dissertation. Typically, the dissertation is a book-length piece of research, though some programs may have shorter requirements.
Completion of the dissertation is typically what takes up the bulk of time to finish the Ph.D in Finance. Students who have a good idea of their research interests when they start the program can typically finish faster. Those who need to do some discovery before deciding on their course of research will take longer. Each student has his own pace for complete work, as well, which can influence the time to completion.
Typically, a Ph.D in Finance can be completed in three to five years, though three years is quite a rapid pace.
Related Resource: Online Master’s of Finance Degree
Researching Options
Completing a Ph.D in Finance can open up many doors for your career, but it is important for you to choose the right program. Make sure you research all your options so that you can find a reputable program that has a research focus that matches your interests. The more prestigious the program you choose, the better off you will be. While having a master’s degree may help you gain entrance to some programs, it is not required. Without a master’s degree, you may have to complete more coursework to finish the program.
Be thorough with your research and get a Ph.D in Finance from the best school possible, and you will be amazed at what opportunities will open up for you and just how far you can advanced yoru career.
