List of PhD Finance Careers
Finance professionals with a doctorate degree apply business acumen and securities market expertise to recommend asset selection strategies to corporate portfolio managers and traders. They also advise on accounting and reporting tools such as financial statement analysis and trend evaluation methods. Some finance professionals engage in teaching or research activities.
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Proprietary Trader
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A proprietary trader uses corporate funds to buy, hold and sell securities on financial markets. A trader uses statistical and econometric tools, such as VaR (value at risk), Monte Carlo simulation and stress testing to gauge risk levels in securities in which he is interested. In its investment profit and loss statement, a firm records profits made and losses incurred in proprietary transactions. The U.S. Bureau of Labor Statistics (BLS) reports that median annual wages for proprietary traders were $68,680 in 2008, excluding stock and cash bonuses, with the middle half of the profession earning from $40,480 to $122,270.
Investment Research Analyst
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An investment research analyst works for a financial institution such as a bank, an insurance company or a hedge fund. She evaluates the operating data of a company, a region or a country, and she provides real-time investment advice to a firm's proprietary traders, clients and portfolio managers. BLS polls show that investment research analysts earned median salaries of $73,150 in 2008, excluding performance-based cash and stock bonuses, with the lowest 10 percent of the occupation earning less than $43,440 and the highest 10 percent earning more than $141,070.
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Finance Professor
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A finance scholar generally teaches at a university, college or other institutions of higher learning such as think tanks. He usually specializes in fields of interest, and he publishes articles in professional magazines. A finance professor also may engage in consulting activities, and she may advise private firms as well as government entities on economic subjects. According to BLS surveys, median annual earnings of finance professors were $58,830 in 2008, with the lowest 10 percent of the profession earning less than $28,870 and the highest 10 percent earning more than $121,850.
Management Consultant
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A management consultant helps a firm's top leadership establish adequate and effective internal controls that prevent losses in operations. These losses may result from error, technological malfunction or fraud. He uses complex risk management tools to prevent financial risks in corporate transactions, and he builds computer algorithms to identify, assess and monitor those risks. Bureau of Labor Statistics data show that median annual wages of finance management consultants were $73,570 in 2008, with the lowest 10 percent earning less than $41,910 and the highest 10 percent earning more than $133,850.
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References
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