
IIM Calcutta PhD in Finance & Control
Ranked 4th in the NIRF 2024 Management Category



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About IIM Calcutta PhD in Finance & Control
The Indian Institute of Management Calcutta (IIM Calcutta) offers a full-time Doctoral Programme (PhD) in Finance & Control as part of its Doctoral Programme in Management. The PhD program prepares students for research and academic careers in finance-related areas of practice, and it prepares individuals for roles in academia, government, industry, and research organizations. IIM Calcutta's PhD program in Finance & Management is demanding and is usually completed within four to five years, with an emphasis on building analytical and research capability.
To be eligible for the PhD in Finance & Control, applicants should have a first-class Master's degree or any discipline post-graduate diploma with at least 50% aggregate marks, or equivalent professional qualifications such as CA, CS, or CMA with specified minimum marks, or a B.Tech degree with a minimum CGPA of 6.5. Final year students who meet these criteria can also apply conditionally.
The program will provide a monthly stipend of between INR 30,000 - INR 35,000 plus additional contingency and computer grants for research and academic activities for the first year. This financial support is available for four years, with the possibility of an additional year for satisfactory progress. Students can also supplement their income from the program with teaching assistantships and receive full funding for an international conference and workshop, in addition to regular funding from the grant.
IIM Calcutta is India's oldest of the IIMs, with a history of excellence and scholarship, and is located on a beautiful campus in Kolkata. The doctoral program with a Finance & Control specialization focuses on producing research of the highest quality and the opportunity to be part of and contribute to the global academic conversation on the knowledge frontiers in Finance and Control. The program is supported by faculty with expertise in this area and is based on collaborative learning with a quality cohort of students.
However, the candidate can also pursue an online DBA(Doctor of Business Administration). This program is offered by the top-ranked foreign universities, and it is equivalent to a PhD. After the completion of this course, the learner will get the Dr title in their name. An online DBA gives Indian students the flexibility to pursue advanced business education without limiting their location. The flexibility of an online DBA program allows students to easily work, study, and balance personal and family commitments. This course is generally more affordable than a traditional DBA program because it avoids unnecessary travel costs, housing costs, and the commitment to move to another country. Learners are exposed to a global network of peers and educators from all over the world, and it gives students access to the institutional advantages of research, digital, and leadership skills in preparation for the dynamic, competitive landscape of leadership positions within India.
For Indian students, an online Doctor of Business Administration (DBA) program usually lasts for a duration of 3 to 5 years. While many universities have a standardized duration of about 3 years, students may require an additional 2 years or less, depending on the complexity of their research and the structure of their program.
Online Degree Acceptance
Online degrees earned from a government-approved university, just like a regular degree, are accepted by the top recruiters worldwide including government & private sectors.
Value of Online Degree
An online degree from a government-approved university holds similar recognition in the industry as that of a regular degree. Thus, it is equally valuable when considered for a job or higher education.
Quality of Education
The quality of education offered in online programs is of the same standard as offered in an on-campus program. Be it curriculum, faculty members, evaluation methods, practical sessions, online & on-campus programs follow similar standards of quality.
Specialization Benefits
- The program is a full-time doctoral program with a duration of 4-5 years, on topics of advanced research and study in finance and control.
- Students can focus their studies in specialization, including but not limited to accounting, corporate finance, investments, banking, and interdisciplinary studies such as corporate governance and social responsibility.
- All students are to receive a monthly stipend (Rs. 30,000–35,000) and annual contingency grants for research, books, and conferences around their academic study.
- There is a modern Financial Research and Trading Lab with access to Bloomberg terminals, real-time market data, and various resources to promote further research and studies on these topics.
- Funding is available to support one to three international conferences, in addition to providing teaching assistantships for part-time opportunities to earn extra income.
- The curriculum is also to include courses in a seminar forum around empirical research, money and markets, advanced econometrics, and the development of practical market simulations.
- The program is to fit portions of academia, research, industry, government, and related policy positions that require a high degree of analytical thinking.
- Admission will respect the Government of India reservation rules to ensure all fair opportunities are available.
IIM Calcutta Approved By

NIRF

AACSB

AMBA

EQUIS
Who Can Apply?
efore applying for the Indian Institute of Management Calcutta PhD in Finance & Control, the candidates must know the eligibility criteria for admission. The institute has set some of the admission requirements for the students. Some of the eligibility criteria for a PhD in Finance & Control are mentioned below:
- A candidate should hold a Class Master's degree or a postgraduate diploma of 2 years in any subject and a three-year Bachelor's degree with a minimum of 50% aggregate marks.
- Alternatively, candidates with professional qualifications such as CA with minimum 50% marks), CS/CMA (minimum 55% marks along with a B.Com degree are eligible.
- Candidates with a B.Tech or equivalent 4-year degree with a minimum of 6.5 CGPA are eligible.
- Non-engineering students who have completed 10+2+5 years of education are also qualified.
- The candidate should have acquired a minimum of 50% marks in secondary and higher secondary exams.
- Applicants should have a valid test score in examinations such as GMAT, GRE, or UGC-JRF in Commerce/Economics/Management as applicable for Finance & Control specialization.
- The course is full-time and usually extends to 4-5 years.
- Rules of reservation as per the Government of India guidelines are applicable.
Other Specializations
Specialization Wise Updated Fees 2025
| Specialization | Fees | Duration |
| Human Resource Management | ₹8,00,000 (Full Fee) | 4 years |
| Management Information Systems | ₹8,00,000 (Full Fee) | 4 years |
| Marketing | ₹8,00,000 (Full Fee) | 4 years |
| Public Policy and Management | ₹8,00,000 (Full Fee) | 4 years |
| Economics | ₹5,00,000 (Full Fee) | 4 Years |
| Strategic Management | ₹5,00,000 (Full Fee) | 4 Years |
| Finance | ₹2,50,000 (Full Fee) | 4 Years |
| Organizational Behaviour | ₹8,00,000 (Full Fee) | 4 Years |
Sample Certificate from IIM Calcutta
Earn a degree from IIM Calcutta that is-
- Ranked 4th by NIRF 2024
- Accredited by EQUIS

IIM Calcutta EMI Details
IIM Calcutta is one of the top Indian institutes that offers all the facilities to facilitate the smooth education service to all students enrolled in the programs. They offer many scholarships to the students by various corporates Aditya Birla Group, T. Thomas Scholarship, OP Jindal Engineering & Management Scholarship, Ratan Tata Trust, and many more. The students get many options for scholarships and other education aids.
IIM Calcutta PhD in Finance & Control Admission Process
If you want to pursue any course from IIM Calcutta, you need to appear for the CAT Examination and clear it with good marks and rank. Then a list will be released by the institute that invites the students for further admission process. After the name declaration in the list, students can apply for admission by following these processes.
Step 1- It is advised to use r Mozilla Firefox (version 56 and above), Google Chrome (version 56 and above), or Edge Chromium to fill up the application form.
Step 2- Make an online registration on the admission portal by filling out all the mandatory fills, like the name of the candidate, user ID, password, date of birth, and country.
Step 3- The candidate will receive a user ID and password on the registered number and email ID. By using these details they can log in and complete the rest of the application form.
Step 4- Make sure to correctly enter all the details like the name of the candidate, user ID, password, date of birth, and country as these details cannot be changed once submitted.
Step 5- Fill in the selected field and check all the eligibility criteria of same before filling up the rest of the information.
Step 6- Make an online fee payment and take the print of the online application form and the fee receipt.
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IIM Calcutta PhD in Finance & Control Syllabus / Curriculum
|
Stage |
Course/Subject Title |
Description |
|
Coursework (First Year) |
Research Methodology & IT |
Research methods, hypothesis formulation, data collection, statistical and econometric tools. |
|
Quantitative Techniques |
Advanced quantitative analysis, econometrics, and modeling techniques. |
|
|
Finance & Control Core Studies |
Advanced finance topics (corporate finance, investments, banking), accounting, and control systems. |
|
|
Seminars & Literature Review |
Research proposal preparation and presentation, reviewing scholarly literature in finance. |
|
|
Coursework (Second Year) |
Doctoral Level Electives |
Specialized seminars in areas like financial markets, corporate governance, and financial econometrics. |
|
Advanced Finance and Accounting Topics |
Deep dives into current research topics and methodologies in finance and control. |
|
|
Progress Presentations |
Regular progress report presentations and feedback sessions. |
|
|
Research Phase |
Thesis Proposal & Presentation |
Finalizing research topic, thesis proposal seminar before the advisory committee. |
|
Dissertation Research |
Execution of research work leading to thesis submission. |
IIM Calcutta PhD in Finance & Control Examination Pattern
For Online examination conduction, the University has collaborated with Mercer. This is a global portal for online examinations that helps in remote proctoring. They have more than 2,000 proctors that anchor large-scale examination processes and ensure cheating-proof conduction of examinations. They have maintained the robustness of all the assessment processes and maintained high standards and a highly high-prestigious image even for online mode of courses.
Job Roles after PhD in Finance
Completing a PhD in Finance & Control opens the door to numerous careers in both academic and industrial environments. Graduates may work in academic roles, such as Assistant Professor or Lecturer, where they teach and undertake advanced research, contributing to the education of future finance professionals and new knowledge in the field. Alternatively, graduates may pursue careers in the business sector as financial analysts, statisticians, risk managers, or consultants for finance firms or consulting firms, relying on the analytical and research skills acquired in their doctoral studies.
In addition, banks, government agencies and regulators seek PhDs for policy analysis, financial modelling, and consulting. There are also roles in the data science, strategic initiatives, and leadership space, where the skills with quantitative methods and financial control are required to inform decisions and strategy in organizations. Many PhDs also choose to pursue alternate career paths. Some engage in entrepreneurship as consultants, or work at start-ups, and others find opportunities in non-profit organizations that utilize research-based solutions to solve social challenges. These varied options illustrate the demand for advanced finance knowledge and the range of opportunity that a PhD provides to have an impact and meaningful roles across sectors.
|
Job Role |
Description |
Salary Range (Approx.) |
|
Assistant Professor |
Teaching and research at universities |
₹4 to 8 Lakhs per annum |
|
Professor |
Senior academic role with research and leadership |
₹7.8 to 30 Lakhs per annum |
|
Financial Analyst |
Analyzing financial data for investment and corporate decisions |
₹6 to 12 Lakhs per annum |
|
Finance Controller |
Managing financial operations and controls |
₹21 to 50 Lakhs per annum |
|
Research Scientist |
Conducting advanced financial research |
₹6 to 12 Lakhs per annum |
|
Consultant |
Providing expert financial advice |
₹8 to 10 Lakhs per annum |
IIM Calcutta Placement Partners
The university is known for its amazing placement drive that offers top-notch and world-class facilities to the students. Many companies and recruiters participate in the placement drive. As per the data released by IIM Calcutta, the University offers the highest internship package of 2.5 LPA and the mean internship of package of 1.5 LPA. The internship is done for 6 months period.
This is done by an interview and selection process and then an internship of 6 months, followed by final placement by top companies. The roles offered to the students are Artificial Intelligence, Data Scientist, Quantitative Research Data Analytics, Applied AI Researcher, Business Analyst, Machine Learning Engineer, Analytic Consulting, Associate Finance Transformation and many more. Some of the top recruiters are.
Our students work at
50%
Average Salary Hike
300+
Hiring Partners
3X
Increase in Interview Opportunities

Google

Amazon

Capgemini

Deloitte

Ey

HCL

HP

Infosys

Microsoft

TCS

Wipro
Frequently Asked Questions?
The Doctoral Programme in Management typically ranges from four to five years of full-time study.
The program offers multiple specializations, including Finance & Control, Economics, Marketing, Human Resource Management, and more.
Candidates need a first-class master's or equivalent degree, a valid CAT or area-specific test score like GMAT/GRE/UGC-JRF, and must meet minimum academic score requirements.
Yes, final-year students can apply provisionally if they complete their degree requirements before the deadline (usually by June 30 of the admission year).
Yes, the PhD program is full-time and requires campus residency.
Admission involves an online application, entrance test scores, submission of academic documents, and recommendations.
Yes, students receive a stipend with increments based on progress, as well as grants for academic activities and conference participation.
Candidates can apply for at most two specializations simultaneously.
Recommendations should come from academic or professional referees familiar with the learner’s qualifications.
Yes, IIM Calcutta offers an Executive PhD program made for senior professionals, allowing them to pursue doctoral studies alongside their careers.
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IIM Calcutta Reviews
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3.8 out of 5
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Lakshay Sharma
Reviewed in India on October 5, 2023
The best thing about the University is their placement drive and support. They invite top-notch companies to hire young talent.
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Pinki Mishra
Reviewed in India on October 5, 2023
I have completed my Master of Business Administration program from the institute. I must say they have one of the best experts and faculties.
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Arun
Reviewed in India on October 5, 2023
They provide excellent learning material to the students. The material is up-to-date and self-paced.
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ARPIT RAWAL
Reviewed in India on October 5, 2023
This Institute is awesome. It is very well equipped with all the facilities and facilitates smooth online learning for students.
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Akhil Chandra
Reviewed in India on October 5, 2023
This institute is among top-ranked universities not just in India, but globally. They have amazing facilities and offer excellent services even in the online mode of education.
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IIM Calcutta
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