IDEAS home Printed from https://ideas.repec.org/a/eee/corfin/v37y2016icp109-131.html
   My bibliography  Save this article

Who is successful on the finance Ph.D. job market?

Author

Listed:
  • Volkov, Nikanor
  • Chira, Inga
  • Premti, Arjan

Abstract

We examine the attributes that contribute to a successful placement of first time finance Ph.D. job market participants. The results of a survey of 237 former job market candidates suggest that while the ranking of the Ph.D.-granting institution plays a significant role in candidates' success at all stages of the job market (candidates from higher ranked schools receive more conference interviews, fly-outs, job offers, and secure higher salaries), other factors also contribute. Prior publications or invitations to resubmit a paper to a journal, experience of presenting at academic conferences, and prior work experience positively affect marketability. Younger candidates, Caucasians, and graduates of higher ranked schools secure placements with higher research requirements and higher salaries. The quality of the hiring institution plays a central role in the candidate's overall satisfaction with the job market outcome. Additionally, we collect and summarize recommendations of survey respondents to future first-time job market participants.

Suggested Citation

  • Volkov, Nikanor & Chira, Inga & Premti, Arjan, 2016. "Who is successful on the finance Ph.D. job market?," Journal of Corporate Finance, Elsevier, vol. 37(C), pages 109-131.
    • Handle: RePEc:eee:corfin:v:37:y:2016:i:c:p:109-131
    DOI: 10.1016/j.jcorpfin.2015.12.012
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0929119915001613
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jcorpfin.2015.12.012?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Peter Coles & John Cawley & Phillip B. Levine & Muriel Niederle & Alvin E. Roth & John J. Siegfried, 2010. "The Job Market for New Economists: A Market Design Perspective," Journal of Economic Perspectives, American Economic Association, vol. 24(4), pages 187-206, Fall.
    2. Basil, Michael D. & Basil, Debra Z., 2006. "The marketing market: A study of PhD supply, demand, hiring institutions, and job candidates," Journal of Business Research, Elsevier, vol. 59(4), pages 516-523, April.
    3. John J. Siegfried & Wendy A. Stock, 1999. "The Labor Market for New Ph.D. Economists," Journal of Economic Perspectives, American Economic Association, vol. 13(3), pages 115-134, Summer.
    4. Cawley, John, 2011. "A Guide and Advice for Economists on the U.S. Junior Academic Job Market (2011-2012 Edition)," IZA Discussion Papers 5984, Institute of Labor Economics (IZA).
    5. Donald Flagg & Otis W. Gilley & Jung Chul Park, 2011. "Job Market Signaling: What Drives the Productivity of Finance Ph.D.s?," Financial Management, Financial Management Association International, vol. 40(2), pages 483-513, June.
    6. Jihui Chen & Qihong Liu & Sherrilyn Billger, 2013. "Where Do New Ph.D. Economists Go? Recent Evidence from Initial Labor Market," Journal of Labor Research, Springer, vol. 34(3), pages 312-338, September.
    7. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(3), pages 355-374.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alexander W. Butler & Timothy Falcon Crack, 2022. "A rookie's guide to the academic job market in finance: The labor market for lemons," The Financial Review, Eastern Finance Association, vol. 57(4), pages 775-791, November.
    2. Jones, Todd R. & Xiong, Haoyang, 2023. "The PhD origins of finance faculty," Journal of Empirical Finance, Elsevier, vol. 71(C), pages 88-103.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ursprung, Heinrich, 2019. "Endogenous maternity allowances as exemplified by academic promotion standards," Labour Economics, Elsevier, vol. 60(C), pages 1-11.
    2. Bram Wouterse & Karen Wiel & Marc Steeg, 2017. "Income Differences Between PhDs and Masters: Evidence from The Netherlands," De Economist, Springer, vol. 165(4), pages 439-461, December.
    3. Soohyung Lee & Muriel Niederle, 2015. "Propose with a rose? Signaling in internet dating markets," Experimental Economics, Springer;Economic Science Association, vol. 18(4), pages 731-755, December.
    4. Azad, Abul Kalam & Emran, Sheikh Jafar, 2018. "Ending High, Starting High: Job Placement of Economics Graduates of Dhaka University," MPRA Paper 103891, University Library of Munich, Germany, revised 15 Mar 2019.
    5. Krause, Annabelle & Rinne, Ulf & Zimmermann, Klaus F., 2012. "Anonymous job applications of fresh Ph.D. economists," Economics Letters, Elsevier, vol. 117(2), pages 441-444.
    6. Jihui Chen & Qihong Liu & Sherrilyn Billger, 2013. "Where Do New Ph.D. Economists Go? Recent Evidence from Initial Labor Market," Journal of Labor Research, Springer, vol. 34(3), pages 312-338, September.
    7. Ferdinand Thies & Sören Wallbach & Michael Wessel & Markus Besler & Alexander Benlian, 2022. "Initial coin offerings and the cryptocurrency hype - the moderating role of exogenous and endogenous signals," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(3), pages 1691-1705, September.
    8. Anders Gustafsson, 2019. "Busy doing nothing: why politicians implement inefficient policies," Constitutional Political Economy, Springer, vol. 30(3), pages 282-299, September.
    9. Michael Waldman, 1990. "A Signalling Explanation for Seniority Based Promotions and Other Labor Market Puzzles," UCLA Economics Working Papers 599, UCLA Department of Economics.
    10. Ivana Fellini & Raffaele Guetto & Emilio Reyneri, 2018. "Poor Returns to Origin-Country Education for Non-Western Immigrants in Italy: An Analysis of Occupational Status on Arrival and Mobility," Social Inclusion, Cogitatio Press, vol. 6(3), pages 34-47.
    11. Stuth, Stefan & Schorlemmer, Julia & Hennig, Marina & Allmendinger, Jutta, 2014. "Freiwilliges Engagement: Ein Patentrezept für Wiedereinsteigerinnen?," Discussion Papers, Presidential Department P 2014-007, WZB Berlin Social Science Center.
    12. Jitender Singh, 2016. "Quality of Public Goods, Public Policy and Human Development: A State-wise Analysis," Indian Journal of Human Development, , vol. 10(2), pages 215-235, August.
    13. Thomas de Haan & Theo Offerman & Randolph Sloof, 2015. "Money Talks? An Experimental Investigation Of Cheap Talk And Burned Money," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56(4), pages 1385-1426, November.
    14. Marco Pecoraro, 2014. "Is There Still a Wage Penalty for Being Overeducated But Well-matched in Skills? A Panel Data Analysis of a Swiss Graduate Cohort," LABOUR, CEIS, vol. 28(3), pages 309-337, September.
    15. Chen, Xuchang & Wu, Changqi & Xie, Xuanli, 2025. "Foreign ownership and corporate litigation risk," Journal of Business Research, Elsevier, vol. 189(C).
    16. Josse Delfgaauw & Robert Dur, 2008. "Incentives and Workers' Motivation in the Public Sector," Economic Journal, Royal Economic Society, vol. 118(525), pages 171-191, January.
    17. Douglas Cumming & Lars Hornuf & Moein Karami & Denis Schweizer, 2023. "Disentangling Crowdfunding from Fraudfunding," Journal of Business Ethics, Springer, vol. 182(4), pages 1103-1128, February.
    18. Maïlys Korber, 2019. "Does Vocational Education Give a Labour Market Advantage over the Whole Career? A Comparison of the United Kingdom and Switzerland," Social Inclusion, Cogitatio Press, vol. 7(3), pages 202-223.
    19. Andonie, Costel & Kuzmics, Christoph & Rogers, Brian W., 2019. "Efficiency-based measures of inequality," Journal of Mathematical Economics, Elsevier, vol. 85(C), pages 60-69.
    20. Kim, Sang-Joon & Bae, John & Oh, Hannah, 2019. "Financing strategically: The moderation effect of marketing activities on the bifurcated relationship between debt level and firm valuation of small and medium enterprises," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 663-681.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:corfin:v:37:y:2016:i:c:p:109-131. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jcorpfin .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.