Purpose: The present study develops, conceptualizes and validates a scale based on the transactional stress theory to assess the perceived challenge and hindrance demands of doctoral programs that impact doctoral students' psychological well-being. Design/methodology/approach: This research employs an exploratory-mixed methodology comprising five phases with a sequential qualitative-quantitative approach. A rigorous scale development process is adopted to validate the instrument's psychometric properties. The study respondents are Indian full-time doctoral students in the management discipline. Findings: The findings show that the construct of perceived challenge and hindrance demands is a first-order four-factor and a second-order two-factor model. The study has validated the scale to capture the challenge and hindrance demands of doctoral research programs with the following sub-constructs: doctoral program resource inadequacies, doctoral program ambiguity, doctoral program workload and complexity. Practical implications: The recommended challenge demands and hindrance demands (CHD) scale provides a benchmark for doctoral institutes and program supervisors in focussing on research students' perception of their doctoral education demands to reduce the strain and increase their well-being during their doctoral program journey. Originality/value: Hindrance demands adversely influence the motivation resources needed for doctoral education; challenge demands positively impact the research students' internal resources.