 He was awarded an honorary doctorate degree by the London Business School in 2012, the Hong Kong University of Science and Technology in 2015. and Université catholique de Louvain in 2019 .In 1991, Rajan joined as an assistant professor of finance at the Booth School of Business at the University of Chicago, and became a full-time professor in 1995.He has taught as a visiting professor at Stockholm School of Economics, Kellogg School of Management, MIT Sloan School of Management, and Indian School of Business.