The economy and demand for finance Ph.D.s: 1989–2001

We investigate the demand for new finance Ph.D.s from 1989 to 2001. Three categories of schools (Top 20, Top 21–50, and Other Finance Departments) are explored and the differences between private and public institutions are reported. The demand for assistant professors is the greatest and most institutions require an earned Ph.D. While most do not specify the position type, there is some evidence that tenure-tracked ones are on the rise. The most desired areas of expertise are corporate/business finance, investments, and bank management/financial markets and institutions. The total demand is positively related to the Gross Domestic Product and Dow Jones.