Is doing a PhD in finance better than doing a PhD in economics and concentrating in finance?
Both have their own merits and demerits!
Doing a PhD is a matter of great honour and will turn you into a scholar-practitioner in your area of work. So if the financial markets are down, you can always move out of the banks/ hedge funds and get into the world of academics and continue to make a living.
That is how I see a doctoral research degree. It is the best hedge you can have during periods of economic volatility and downturn.

Now, which one is better?

Oh, WOW! That's tough to answer.
Well, getting a PhD in Finance has its own advantages in the private sector, where Financial Institutions do hire savvy tight dressed academics as managers, advisors and board members.
Also due to high student enrolment in Finance Programs across business schools, you will get more tenure track research and/or teaching positions that are paying a decent sum compared to the teaching of Economics these days.
But some Econ schools in the first world are offering fantastic PhD Econ Degree Programs.
So if you end up getting a doctorate from places such as the LSE, Chicago, Stanford, Oxford, Yale, or any other top school, you can easily outshine the crowd with those qualifications compared to obtaining a PhD in Finance from a tinpot uni. in the West.
Most of the PhD candidates in Economics get ample opportunities to work in the civil services aka bureaucracy. But they can completely choose between the private sector and public sector segments of the economy.
Even Banks and Funds hire #Economists with a Finance Concentration, so getting a job in the Financial Sector/s won't be a problem.
Depends on really where your interest lies. Whether you would like to overwhelmingly specialize in Applied Finance?
or
#Economics with a focus on financial economics?
This is purely a matter of choice and your future employment ambition.
Also, If you would like to work as a Financial Specialist with a PhD in Finance, it is much better.

On the other hand, if you would like to be described as an Economist a PhD in Economics with any concentration of your choice will do the trick, and certainly is the way forward!

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15 Jun
How is the London Business School MBA degree valued in the United States?
@LBS
Let me answer this question based on what I have heard from my friends and acquaintances.

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There is this general impression in the USA and abroad that the best business schools are American Business Schools.

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It is your luck that matters.
#CON
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