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

Volkov, Nikanor; Chira, Inga; Premti, Arjan

doi:10.1016/j.jcorpfin.2015.12.012

Cited by 7 publications

(6 citation statements)

References 8 publications

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“…If not, then do not apply. The average number of rookie applications reported inVolkov et al (2016) is 63.We suggest that you and your advisor agree upon a list of no more than 50-60 schools Oyer (2006). makes a compelling case that initial job placements of economics rookies have a dramatic and long-lasting impact on their future career paths.…”

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confidence: 89%

“…Volkov et al. (2016, Table 2) document that the average rookie in their sample received 2.5 offers (more for candidates from top‐tier schools, fewer for candidates from lower‐tier schools). If you have more than one offer, ask your advisor for guidance in deciding which school is the best fit for you.…”

Section: Timeline and Key Pointsmentioning

confidence: 99%

“…Some research‐oriented schools, high‐powered or otherwise, interview at both FMA and AFA. Based on revealed preferences, only job seekers from top schools can successfully skip FMA (see Volkov et al., 2016, Figure 2). The strategic challenge of FMA is that many of the good schools that interview there have flyouts and make offers that expire before Christmas.…”

Section: Timeline and Key Pointsmentioning

confidence: 99%

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A rookie's guide to the academic job market in finance: The labor market for lemons

Butler

Crack

2022

The Financial Review

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Twenty years ago, we circulated our first "Rookie's Guide" to the academic labor market for finance Ph.D. students. Labor market logistics are easier now due to technological change, but the basic informational frictions that made it difficult for rookies to learn the ropes still exist, as do the fundamental market frictions that make bilateral matching between labor demand (hiring schools) and labor supply (the rookies) awkward and challenging. We recapitulate basic advice from previous guides, provide modern updates for the intense interview process, and discuss what to do after you accept an offer and during your first year of employment.

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confidence: 89%

Section: Timeline and Key Pointsmentioning

confidence: 99%

Section: Timeline and Key Pointsmentioning

confidence: 99%

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A rookie's guide to the academic job market in finance: The labor market for lemons

Butler

Crack

2022

The Financial Review

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“…2 A similar trend is observable in finance and economics job markets for new doctorates. See Coles et al (2010) and Volkov et al (2016) 3 Other examples are Federal court clerkships in the US, and job markets for new doctorates in many majors such as economics, finance, and marketing. a dynamic one-to-one matching market?…”

Section: Introductionmentioning

confidence: 99%

Dynamic Many-to-One Matching

Altinok

2019

SSRN Journal

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We study many-to-one matching markets in a dynamic framework with the following features: Matching is irreversible, participants exogenously join the market over time, each agent is restricted by a quota, and agents are perfectly patient. A form of strategic behavior in such markets emerges: The side with many slots can manipulate the subsequent matching market in their favor via earlier matchings. In such a setting, a natural question arises: Can we analyze a dynamic many-to-one matching market as if it were either a static many-to-one or a dynamic one-to-one market? First, we provide sufficient conditions under which the answer is yes. Second, we show that if these conditions are not met, then the early matchings are "inferior" to the subsequent matchings. Lastly, we extend the model to allow agents on one side to endogenously decide when to join the market. Using this extension, we provide a rationale for the small amount of unraveling observed in the US medical residency matching market compared to the US college-admissions system.

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“…Turning specifically to the finance academic labor market, Flagg, Gilley, and Park (2011) and Volkov, Chira, and Premti (2016) identified factors that predict faculty placements into relatively highly ranked finance departments. As one might expect, the ranking of the doctoral program is a very strong predictor of placement success.…”

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confidence: 99%

Hiring Your Friends: Evidence from the Market for Financial Economists

Hadlock¹,

Pierce

2020

ILR Review

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The authors study connections in academic hiring in a sample of finance doctoral graduates. Departments hire PhD graduates with school connections to other recently hired faculty at a significantly greater rate than models predict. Similarly, schools exhibit an elevated propensity to hire individuals with names that indicate a similar ethnic background to incumbent department members. School-connected hires tend to publish at significantly elevated rates, a finding that is robust to a large number of model modifications and is stronger in more research-intensive departments. The evidence on school connections appears highly consistent with an employer information benefit from hiring based on school connections. Ethnic-connected hires tend to publish at lower-than-predicted rates when controlling for hiring-school characteristics, but this finding is not robust to the inclusion of hiring-school fixed effects. This evidence suggests that the possible information benefits of school-connected hiring do not immediately extend to other types of connections.

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

Cited by 7 publications

References 8 publications

A rookie's guide to the academic job market in finance: The labor market for lemons

A rookie's guide to the academic job market in finance: The labor market for lemons

Dynamic Many-to-One Matching

Hiring Your Friends: Evidence from the Market for Financial Economists

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