On stationary convection and oscillatory motions in ferromagnetic convection in a ferrofluid layer

► The linear stability theory is used to derive sufficient condition for the validity of 'principle of exchange of stabilities'. ► Bounds for the complex growth rates in ferromagnetic convection are obtained for free and rigid boundaries. ► These bounds are core mainly when both boundaries are not dynamically free so the exact solutions in closed form are not obtainable. ► Results derived in only the nondimensional quantities and is independent of wave number are, thus, of uniform applicability.