Finance is an interesting and challenging field, and financial professionals interested in advancing their careers often wonder what they can do with a PhD in Finance. That option poses many interesting choices because earning a PhD in Finance not only puts candidates in positions to pursue a variety of jobs but also puts them in positions where they can earn excellent wages. They’ve taken their training and education to the highest level, and the sky is the limit! Here are a few career choices available for someone with a PdD in Finance.
Every year many graduates of the PhD in Finance choose to work as college professors in the economics and finance departments of colleges and universities. Although their main responsibilities are to teach students every semester, they also spend a great deal of time performing research. Additionally, they are required to publish books or articles based on the research they’re performed. University professors are also responsible for preparing exams for the class, creating the course syllabus, preparing lectures and grading tests and assignments. While this position doesn’t pay as much as some pay with the finance doctoral degree, they do make very good wages and find the work very rewarding.
Investment researcher is a popular career choice for PhD in Finance holders who don’t choose to work in an academic setting. Investment researchers use their knowledge of finance to research how certain income investments are performing. They may work in the private or public sector. They deal with corporate bonds, foreign currencies, credit equities, commodities, and similar fixed income accounts. Using their research and expertise, investment researchers then make recommendations to their clients. Investment researchers generally earn higher wages than those working in academia.
Working as a financial manager can be stressful at times but can also be very rewarding. Imagine the rewarding feeling of successfully managing someone’s money and knowing they’ve earned a high return based on your research and recommendations! Financial managers may be hired with a master’s degree, but those with a PhD in Finance typically see the best job opportunities. A big part of their job involves researching and analyzing current market trends so they can help the company increase both their customer base and their profits. They also generate the company’s business reports, forecasts and financial statements.
Compensation and Benefits Manager
Compensation and benefits managers are an important part of an organization’s workforce because they’re the professionals who help the company determine what kind of wages they can pay their employees. They figure out how to balance the wages and compensation benefits so the company is competitive while still being profitable and able to maintain a good workforce. They oversee the distribution of wages and benefit packages and ensure the company is paying the right amount based on the profitability of the company and the employee’s job performance. Compensation and benefits managers also select and work with benefits vendors, investment managers, and insurance brokers.
Jobs in the business and financial operations field are expected to see a growth of 7 percent during the 2018-2028 decade, resulting in almost 600,000 new jobs by 2018 according to the U.S. Bureau of Labor Statistics. Professionals who go the extra mile and earn a PhD in Finance will generally see the best opportunities.