A Master of Business Administration (MBA) is often considered to be a professional postgraduate degree which facilitates development of skills associated with management, leadership, business, and decision making. On the other hand, for the individuals who want to extend the field of application beyond a corporate career, choosing a PhD program after MBA is an excellent option.
A Doctor of Philosophy degree (PhD) in Management or any related subject helps the candidates of MBA gain specialization in a particular field, such as Finance, Marketing, Human Resource, Operations, Business Analytics, Strategy, Entrepreneurship or International Business.
In India, there are many universities and business schools that offer PhD courses to MBA/PGDM holders. Admissions in the programs are done on the basis of academic qualifications, entrance exam/national level test, research proposal, personal interview, and other university-specific criteria.
This article provides comprehensive information about PhD after MBA, which covers all aspects of the course, such as eligibility, entrance exam, course duration, fees, specialization areas, career options, salary, and pros and cons of doing a PhD course.
PhD After MBA – What Is It?
PhD after MBA is a programme for obtaining a doctorate in a particular area of management, business, economics, commerce, or any other related field.
Unlike an MBA, which emphasizes the practical aspect of business knowledge and business skills, a PhD lays a lot of emphasis on -
- Research methodology
- Research work
- Data analysis
- Theory formulation
- Publishing research
- Teaching
- Problem solving of business issues
For example, a Marketing MBA could conduct research on topics such as consumer behavior, digital marketing, artificial intelligence in marketing, brand management, or social media marketing for the doctoral study.
This is true even in the case of an MBA Finance where one can work on financial markets, fintech, investment behavior, corporate finance, or sustainable finance.
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Why Should You Do PhD After MBA?
Following are some of the main reasons why MBA holders decide to pursue a PhD.
1. Academic Career: The most important reason for pursuing a PhD after completing an MBA is to get a career as a professor or academic faculty in a university or business school.
PhD will help you to become a teacher for the following topics -
- Marketing
- Finance
- Human Resources
- Operations
- Business Strategy
- Entrepreneurship
- Analytics
2. Work as a Researcher: The PhD program equips students to take up research-based jobs in colleges, universities, research organizations, consulting firms, think tanks, and research divisions of corporations.
3. Specialize in an Area of Management: Whereas an MBA is general in nature and gives knowledge on different aspects of management, a PhD helps one specialize in a specific field of management.
4. Job as a Consultant and Strategist: These attributes will also come handy in consultancy work and research related to economics and strategy.
5. Publish Research Papers: PhD candidates often carry out research and publish research papers in various academic journals and conferences.
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PhD After MBA Eligibility Criteria
The eligibility criteria will be different in every university, hence, candidates must refer to the latest admission notification issued by the university.
Typically, candidates require -
- A valid postgraduate qualification like MBA, PGDM, M.Com, MA, MSc, or any other master's degree.
- Minimum qualifying percentage or CGPA prescribed by the university.
- Academic background related to the proposed field of research.
- Passing the entrance test if the university requires one.
- Statement or proposal of the intended research study.
- Personal interview performance
Some universities can also accept a valid score in UGC-NET, JRF, GATE or other national level examinations, based on the program and university concerned.
Professional experience can be beneficial for some management related PhD programs, but this requirement is not uniform for all.
PhD After MBA Entrance Tests
There are different admission criteria for universities. There are some universities which conduct entrance tests by themselves and there are some universities which consider the score of some recognized national level test papers.
Some of the important entrance tests after MBA include -
UGC-NET
University Grants Commission National Eligibility Test (UGC-NET) is a very important test for candidates who are seeking a career in academics and research.
Based on subject and eligibility criteria, qualifying UGC-NET may open up possibilities for becoming an Assistant Professor and/or Junior Research Fellowship (JRF).
Doctoral Entrance Examinations of Different Universities
There are many universities which conduct doctoral entrance examinations. Candidate may be asked for his knowledge in the following areas -
- Research Methodology
- Aptitude Test
- Management
- Quantitative Techniques
- Subject Knowledge
- And Other National Level Tests
Based on university and discipline, there are some universities which also recognize entrance tests like GATE etc.
Hence, candidates need to check the admission criteria of respective universities.
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Duration of PhD after MBA
PhD programs usually take a few years to finish.
Depending on the institution of study, topic chosen, coursework, research progress, writing of thesis and its evaluation.
Typically, a PhD process can be as follows:
Entry/selection → Coursework → Proposal of research → Literature review → Data collection → Analysis of research → Thesis writing → Thesis evaluation → Viva Voce
It must be known that the PhD program is not just another academic course work. It involves a considerable amount of research work by the students.
This may increase depending upon the nature of research selected.
PhD Specializations Following an MBA Program
There are a variety of topics that MBA graduates can study in their PhD research.
1. Marketing PhD
For students who are interested in -
- Consumer behavior
- Digital marketing
- Branding
- Advertising
- Social media marketing
- Customer experience
- Retail marketing
2. Finance PhD
The following are possible fields of research -
- Corporate finance
- Financial markets
- Investment management
- Fintech
- Banking
- Risk management
- Sustainable finance
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3. PhD in Human Resource Management
Research areas may be -
- Employee engagement
- Leadership
- Talent management
- Organizational culture
- Performance management
- Retention of employees
- The future of work
4. PhD in Operations Management
Research could involve -
- Supply chain management
- Logistics
- Quality management
- Operations strategy
- Procurement
- Manufacturing systems
5. PhD in Business Analytics
This is becoming a very relevant research field, which includes: -
- Data driven decision making
- Artificial intelligence
- Machine learning
- Predictive analytics
- Business intelligence
- Big data
6. PhD in Entrepreneurship
Research areas may include -
- Start-ups
- Innovation
- Entrepreneurial ecosystems
- Family businesses
- Social entrepreneurship
- Venture creation
7. PhD in Strategy
Research could involve -
- Competitive strategy
- Corporate strategy
- International business
- Strategic leadership
- Mergers & Acquisitions
- Business transformation
PhD after MBA Fees in India
The fees for pursuing a PhD degree greatly differ according to institutions and programmes, among other aspects.
Whereas there is great variation in the fees structure in doctoral studies as opposed to other management programmes, one reason is that the former may offer fellowships to some candidates who are eligible to qualify for the scholarships.
Apart from tuition fees, other expenses to be considered include -
- Registration Fees
- Exam Fees
- Research Expenses
- Accommodation
- Books and Databases
- Conferences
- Fees Related to Publication
There are those PhD scholars who get fellowships to cater for living and research costs.
It is therefore important that prospective candidates do not just consider tuition fees but other aspects such as total fees of the programme, available fellowships, faculty and research facilities, among others.
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Career Options for PhD in Management
There are a number of options available post completion of PhD after MBA degree.
1. Professor / Faculty: Business Schools and Universities appoint professors or faculty having PhD qualification.
2. Researcher: One may become a researcher in universities, research institutions, think tanks and corporate research teams.
3. Management Consultant: PhD holder is highly capable in research and analysis which helps in becoming management consultant especially for strategy, market research and organisational consultancy projects.
4. Corporate Strategy Specialist: Multinational Corporations may hire professionals having skills in strategy, research and business analysis.
5. Policy Researcher: PhD may be helpful in careers associated with economic, business and public policy research.
6. Entrepreneur: Research work done by PhD holders can help in gaining valuable insight into any particular business problem or industry.
Difference between MBA and PhD - What is the Difference?
|
Factor |
MBA |
PhD |
|
Main objective |
Management and business career |
Research and expertize |
|
Education level |
Postgraduate |
Doctoral |
|
Orientation |
Application of knowledge |
Doing research |
|
Duration |
Usually 1-2 years |
Several years |
|
Objective of career |
Corporation/management |
Academics/research/expertize |
|
Expected result |
Projects and internships |
Dissertation and research work |
|
Good for |
Managers and business people |
Researchers and academics and experts |
An MBA and PhD need not be considered to be conflicting educational programs. They have different objectives.
PhD Salary After MBA
The salary after getting a PhD depends on many factors like the role of employment, organization, experience, specialization, location, and the employer.
For instance, a fresh PhD employed as a professor in a renowned institute may have a different pay scale from that of a corporate researcher or management consultant.
Individuals who have an MBA, PhD, and relevant experience in the industry can certainly carve out good careers since they possess both theoretical knowledge of business and research skills.
However, a student must not go for a PhD just for the sake of increasing their salaries. This is due to the fact that a PhD is a very time-consuming effort.
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Worthiness of PhD After MBA?
PhD studies after an MBA degree can be highly worthwhile if your career plans align with the level of research and academic activity involved in PhDs.
This could be the right option for you if -
- You want to be a professor
- You love conducting research and writing
- You want to focus deeply on some particular topic
- You like teaching
- You want to work in research or policy
- You enjoy analysis of business challenges
- You want to contribute to academia
On the other hand, if your prime aim is to immediately join corporate management or marketing or sales, then it may not be worth going for a PhD.
PhD After MBA: Advantages and Disadvantages
Advantages
- Ability to become a professor
- Good research skills
- Career in academics/research
- An opportunity to specialize
- Opportunity to get fellowships during the course
- Publishing possibilities
- A good base for teaching and consultancy
Disadvantages
- Course takes several years to finish
- Involves a lot of research and writing
- Academic career could be very competitive
- Research might be difficult and time consuming
- It is not financially rewarding immediately
Conclusion
A PhD after MBA would be a good choice for MBAs who are interested in exploring careers outside the traditional track of corporate business management into research, teaching, consulting or specialisations within the field of business.
When selecting a PhD program, one must take into consideration many factors such as the university, the faculty, the research field, the courses, admission criteria, fellowships, fees, and career prospects.
Most importantly, select a research field that you have a real passion for, because a PhD is a major academic endeavor and your interest in the field will play a big role in its success.
For MBAs who have a genuine passion for research, teaching, innovation, and problem solving in business, a PhD could be the next step in their career journey.
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