A PhD degree is a doctorate of philosophy that is conferred to students pursuing the highest degree in various streams of study ranging from medicine, law, science, literature, finance, physical sciences. This post specifically focuses on PhD in Management. Every year from India we have a multitude of aspiring individuals seeking for a PhD in Management abroad. Students aspiring for PhD usually apply to ace business schools such as Harvard, Stanford, Wharton London Business School, Oxford, and Cambridge to name a few. This article focuses on various aspects pertaining to the program in order to provide some guidance to the aspirants.
Duration of the Program
The average duration of a PhD program spans across four to five years out of which the first two years cover the entire coursework. The third year entails students devoting time for research and dissertation (thesis) in their interested area of specialization. The dissertation which is the final step can be co-authored under the guidance of a faculty member. The students also undergo various qualifying exams.
The fee structure varies from country to country. However, on a generic note, 80% of the funding is taken care of by the business school’s own resources while fellowship and assistant ship takes care of the rest of the funding. In most of the cases, the colleges/ the universities assign teaching responsibilities to its PhD students in order to manage the funding they provide. They waive off the program tuition fees and offer a stipend that helps the students manage their personal expenses along with their research related expenses. Additional funding options can be explored by the students from their home country as well.
Eligibility Criteria/How to Apply
In order to apply, the applicant needs to have a bachelor’s level degree or any other degree which is equivalent to four years of study time period. It should be noted that it is a general misconception that a master’s degree is mandatory. A Master’s Degree in any discipline or a professional degree such as BE/BTech with at least 60% marks or an equivalent GPA “ALSO” qualifies to apply for the program. A couple of universities have certain academic pre-requisites to be met before an applicant is considered for their PhD program. All PhD aspirants need to submit either their GMAT or GRE score. However, the score requirement for TOEFL or IELTS varies from school to school. The applicant also needs to submit essays, letters of recommendations and an updated resume followed by an interview call.
Job Opportunities and Prospective Salary Structure
Some of the lucrative job opportunities available include a career in academics usually, while some of the degree holders opt for a non-academics related career and return to the industry they came from. The prospective salary structure is based on diverse factors such as the country, experience, the popularity/reputation of the college from where the degree was pursued and so on. Listed below are the salary range and the job positions offered to individuals with a doctorate degree:
**Data source www.payscale.com
|Assistant professor||46,942 – 96,845 USD|
|Research scientist||53,401 – 120,508 USD|
|Associate professor-higher education||54,741 – 121,415 USD|
|Professor in higher education||61,683 – 170,475 USD|
|Post-doctoral research associate||36,581 – 59, 866 USD|
PhD applicants should carefully consider several factors such as geography, time requirement, job placement and their financial position before taking the plunge.