Finance PhD outside top 20 ==> Doomed to be reg monkey?
I am interested in theoretical international finance, macro-finance, banking, asset pricing, but I won't get accepted in top 20. Faculty outside top 20 seem to be almost exclusively empirical (and mainly corporate)
What about Minnesota Finance or Wisconsin Finance? The idea being you want a Finance department lower ranked than the Econ department so you can get in, but with an Econ department strong in theory/macro so you can get well trained.