PhD in Banking and Finance is a 3 years research level program that deals with the knowledge of finance and economics. It covers topics related to finance in micro aspects and macro aspects.
The eligibility criteria for a PhD course is a Master’s degree or equivalent relevant to the stream from a recognized university.
PhD admissions are granted through merit in the entrance examinations conducted by the university or college. The entrance exams that a candidate can clear to get admission in PhD program are UGC NET and CSIR UGC NET.
Some of the top colleges for PhD Banking and Finance are R. A. Podar College of Commerce And Economics, Somaiya Vidyavihar University, K. P. B. Hinduja College of Commerce, Nagindas Khandwala College, etc. The average fee charged to pursue PhD in Banking and Finance is INR 80,000 to INR 1, 00,000 per annum. The fee may differ according to the facilities provided by the university or college.
Some of the subjects taught in this course are Asset Pricing Theory, Foundations of Business Research, Econometric Analysis, Microstructure of Markets, etc.
The job roles after pursuing this course are diverse. Students can get various opportunities in the field of banking, stock management, teaching, etc.
The average starting salary for the jobs is INR 2, 00,000 to INR 5, 00,000 per annum. Some of the top recruiters of PhD Banking and Finance scholars are Reserve Bank of India, State Bank of India, National Stock Exchange, Mumbai University and others.
PhD Banking and Finance: Course Highlights
| Course Level | Research |
|---|---|
| Full Form | Doctorate Of Philosophy in Banking and Finance |
| Duration | 3 years |
| Eligibility | Post Graduation Degree |
| Admission Process | Either by Entrance Exam or by Merit |
| Course Fees | Up to INR 2,00,000 |
| Subjects | Business Research, Econometric Analysis, Asset Pricing, Corporate Finance, etc. |
| Salary | Up to INR 5,00,000 per annum |
| Recruiting Organizations | Reserve Bank of India, State Bank of India, National Stock Exchange, Mumbai University and others |
| Jobs | Teacher, Lecturer, Credit Control Manager, Financial Analyst, Stockbroker and others |
Why Study PhD Banking and Finance?
There are a lot of reasons to study a PhD in Banking and Finance. There is always a need of good researchers to study the fields of banking and finance. Most of the students prefer doing PhD because of the following reasons:
- It gives a lot of job opportunities in various fields.
- It opens a door for students to become professors and to teach in universities. There is always a need for professionals and researchers.
- It enhances administrative skills of students.
- There is always a need for PhD students in banks.
- Students become good researchers and an expert in the field of Banking and Finance.
- PhD in Banking and Finance helps students in enhancing their leadership and communication skills.
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After doing PhD, one can earn up to INR 5,00,000 per annum.
PhD Banking and Finance: Admission Process
Admissions to PhD programs are either based on national level entrance exams or based on the merit in the entrance test conducted by the university or college.
Candidates can apply for PhD courses either by online mode or offline mode.
How to Apply?
- Visit the official website or the Admission Office of the college/university for the admission form.
- Fill the application form and attach all the necessary documents mentioned over there.
-
Submit the application form and pay the application fee.
After the release of cut-off, final selection is done through interview or GD rounds.
PhD Banking and Finance: Eligibility Criteria
The basic eligibility criterion to take admission in PhD (Banking and Finance) is a Master’s degree in the relevant stream or equivalent from a recognized university.
- Candidates must score more than 55% marks in their post graduation.
- Candidates must clear the cut-off percentage in the entrance examination as per decided by the university or college.
PhD Banking and Finance: Entrance Exams
Candidates need to qualify the entrance exam and then go through the counseling process conducted by the universities.
| Exam Name | Application Process | Exam Date |
|---|---|---|
| UGC NET (July Session) | December 29, 2022 – January 23, 2023 | February 21, 2023 – March 10, 2023 |
| CSIR UGC NET (June Session) | 2nd week of March – 2nd week of April 2023 | 3rd week of June 2023 |
| ICAR AICE JRF/SRF | To be Announced | To be Announced |
PhD Banking and Finance: How to prepare for Entrance Exams?
The entrance exam for PhD consists of the following sections:
- Research Aptitude
- Teaching Aptitude
- Logical Reasoning
- Mathematical Reasoning and Aptitude
- Data Interpretation
- You should have some knowledge about the course so that the questions are not completely new to you.
- Go through the syllabus of the entrance exam and prepare accordingly.
- Practice previous year’s question papers for a better idea of the exam pattern.
- Appear for online mock tests conducted by different websites.
- Prepare for the research ability test for banking and finance.
How to Get Admission in a Good College?
- Most of the good colleges take admission through entrance exams.
- So, if you want to get admission in a good college, you must prepare for the entrance exams.
- Your final scores in your Master's degree also matter as admission in some colleges is merit based.
- Prepare well for the Group Discussion and Personal Interview because it will test your knowledge about the subject.
- Make sure to apply to your selective colleges before the deadline.
PhD Banking and Finance: Top Colleges
| College Name | Average Annual Fees |
|---|---|
| R. A. Podar College of Commerce And Economics | - |
| K. P. B. Hinduja College of Commerce | INR 11,940 |
| Somaiya Vidyavihar University | INR 1,00,000 |
| Shyam University | INR 80,000 |
| Nagindas Khandwala College | - |
PhD Banking and Finance: College Comparison
K. P. B. Hinduja College of Commerce Vs Somaiya Vidyavihar University Vs Shyam University
| Parameter | K. P. B. Hinduja College of Commerce | Somaiya Vidyavihar University | Shyam University |
|---|---|---|---|
| Overview | The college has been awarded Best College Award from University of Mumbai. It has been declared as College with Potential for Excellence by the University Grants Commission [UGC]. It has also been accredited by NAAC and awarded with A+ grade. | The university has been ranked 56 by NIRF. It has also been ranked 2 in India and 1 in Mumbai by Times B School. | Shyam University is one of the top universities in Rajasthan. It is approved by UGC, BCI, Government of Rajasthan, AICTE, PCI and NCTE. |
| Location | Mumbai, Maharashtra | Mumbai, Maharashtra | Dausa, Rajasthan |
| Admission Process | Entrance Exam | Entrance Exam | Entrance Exam |
| Average Annual Fees | INR 11,940 | INR 1,00,000 | INR 80,000 |
| Average Annual Salary | INR 4,00,000 | INR 10,00,000 | INR 3,70,000 |
PhD Banking and Finance: Syllabus
| Year 1 | Year 2 |
|---|---|
| Asset Pricing Theory | Microstructure of Markets |
| Empirical Asset Pricing | Continuous Time Finance |
| Foundations of Business Research | Research Methods in Finance 1 |
| Corporate Finance Theory | Research Methods in Finance 2 |
| Empirical Corporate Finance | - |
| Empirical Corporate Governance | - |
| Econometric Analysis OR Stats for Business Research OR Research Project Seminar | - |
PhD Banking and Finance: Important Books
| Name of the Books | Author’s Name |
|---|---|
| Managing Risk in Financial Institutions: A comprehensive approach | P.hD Roberto Salomon |
| Winning at Collaborations Commerce: the next competitive advantage | Heidi Collins |
PhD Banking and Finance: Course Comparison
PhD Banking and Finance vs PhD in Economics
| Parameters | PhD (Banking and Finance) | PhD in Economics |
|---|---|---|
| Overview | It mainly covers topics related to business research, corporate finance, asset pricing, etc. | The main focus is on microeconomics and macroeconomics. |
| Duration | 3 years | 3 to 5 years |
| Eligibility | Post Graduation in Banking & Finance or equivalent | Post Graduation in Economics |
| Average Annual Fee | Up to INR 2,00,000 | Up to INR 6,00,000 |
| Average Salary Offered | Up to INR 5,00,000 per annum | Up to INR 8,00,000 per annum |
| Job Roles | Stockbroker, Credit Control Manager, Teacher, Lecturer, etc. | Accounting, Media Analyst, Marketing, Auditor, etc. |
PhD Banking and Finance: Job Prospects and Career Options
A PhD in Banking and Finance is beneficial for the students who are interested in learning about the latest reforms in the banking sector.
There are a lot of career options available for students pursuing PhD in Banking and Finance like Lecturer/ Teacher, Stockbroker, Finance Manager, Statistician, etc.
PhD Banking and Finance: Job Profiles
| Job Profile | Job Description | Average Annual Salary (INR) |
|---|---|---|
| Lecturer/ Teacher | The role of a Teacher or a Lecturer is to teach students about the fields of banking and finance in universities and colleges. | INR 3,50,000 |
| Stock Broker | The role of a Stock Broker is to buy and sell stocks and other securities in a stock market. | INR 3,90,000 per annum |
| Financial Analyst | Their role is to analyze the market trends and to help the company grow economically. | INR 4,10,000 per annum |
| Credit Control Manager | Credit Control Manager is responsible for controlling the payments of an organization. | INR 5,00,000 per annum |
| Statistician | Statistician is a person involved in theoretical or applied statistics. They analyze the data and supplement the knowledge in public and private sectors. | INR 5,30,000 per annum |
Salary Graph Trend
PhD Banking and Finance: Future Scopes
The job roles after a PhD course are diverse. Students can find stability in their career within a few years. The finance and banking sectors are always open for new generations to show their skills and help improve the economy of the country. Students can easily find jobs in both private and public sectors. The salary increases with experience.
- Students may go for further research work or for jobs in various fields.
- Students can continue their research work in macro finance or micro finance fields.
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Students can go for jobs in the sectors like banking, stock broker, finance manager, lecturer, etc.
PhD Banking and Finance: FAQs
Ques: What is the average fee of PhD (Banking and Finance)?
Ans: The average fee for pursuing PhD (Banking and Finance) ranges between INR 80,000- INR 2,00,000
Ques: Which college in India offers PhD in Banking and Finance?
Ans: There are very few colleges in India that offer PhD in Banking and Finance. Two of them are:
-
R.A. Podar College of Commerce and Economics, Mumbai
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Nagindas Khandwala College of Commerce, Mumbai
Ques: Is it necessary to do a PhD in Banking and Finance to get a job in banks?
Ans: No, it is not necessary to do a PhD to get a job in banks. But, if you want to get a higher post in the bank, doing a PhD will be a good option.
Ques: Is it necessary to do a PhD in Banking and Finance to become a professor in Finance?
Ans: Doing a PhD opens a lot of doors in the field of teaching. If you want to be a professor in Finance, a PhD degree in Banking and Finance will be a good choice.
Ques: Is it worth doing a PhD in Banking and Finance?
Ans: Yes, PhD in Banking and Finance is worth it. You can get numerous jobs that will pay you well. Also, you can do research in your field of study.
Ques: What are some of the main entrance exams for PhD in Banking and Finance course?
Ans: The main entrance exams for PhD in Banking and Finance courses are UGC NET, CSIR UGC NET, GATE, SET, NET, etc.
Ques: How long does it take to complete a PhD in Banking and Finance?
Ans: PhD in Banking and Finance is of three years. You can complete your research in these three years and get your Doctorate degree or you might go for further research.
Ques: What is the age limit for a PhD in Banking and Finance?
Ans: PhD in Banking and Finance is of three years. You can complete your research in these three years and get your Doctorate degree or you might go for further research.
Ques: Is it necessary to clear the PET exam to get admission to PhD in Banking and Finance course in K. P. B. Hinduja College of Commerce?
Ans: No, it is not necessary to clear the PET exam if you have qualified the GATE/ SET/ NET/ JRF Examination or any other national level examinations.
Ques: What is the maximum duration to complete PhD in Banking and Finance?
Ans: Usually, the course is to be completed within 3 years. But, some colleges offer more time to complete the research work and it can be a maximum of 4 years
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