QuoteOriginally posted by: traderjoe1976These are expected salaries for Finance faculty at a State University.Finance Faculty salairesAs you can see, an Assistant Professor in Finance starts at around $200,000 for nine month salary.In addition to this, they get 2/9 for summer research support (about $50,000).After they get tenure, they could easily get an additional $100,000 to $500,000 in consulting fees.The admission rate is very low (usually less than 2%). Chicago takes about 4 Finance PhD students every year plus about 200 Physics PhD students and 200 Math PhD students and 100 Engineering PhD students.Most Finance PhDs opt for academic positions and they come to Wall Street only after they get denied tenure.Usually they start in Stat Arb area and within a few years they will be partners in one of the Hedge Funds. Very rare to find any of them in the IBs.Many MFE grads from Stanford, Princeton, Chicago, and Berkeley have gone on to do Finance PhD. You need to have MFE from a good school, be at the top of your MFE class with a good GPA, and get good reference letters from well-known faculty.PhD in USA is a long, tough, gruelling process which will take between five to seven years. You should think very carefully about the opportunity cost. Also, in the Finance Department, they want to train people for academic careers and not for Wall Street. So if you say that you want an industry job, you better apply for a Math PhD instead of a Finance PhD.I don't live in the US so I've no idea, but how much do those salaries contribute to the disproportional inflation of college tuition in the USA and do you think they are justified in terms of the opportunities they create for students. Are we sure this isn't just an indicator of a major flaw in the system.