Finance is the basic determinant of most business decisions. It lies at the base of every decision making process. On the other hand, finance departments want all of the finance PhD’s, at least from the top programs. That is to say, if you graduate with a PhD in finance from a top program, you’re effectively guaranteed a lucrative job in finance academia or industry. Note, the academic job might not be at a top finance department – you might end up at some lower-ranked program – but you’re effectively guaranteed a job somewhere.