PhD Programs - Why is PhD in Management a Worthwhile Degree?
Getting a PhD is not just a qualification; it teaches you an entirely new way of understanding and solving problems.
Considering a Doctor of Philosophy or PhD? Selecting a PhD program could be the best decision you ever make regarding your career and personal development.
PhD programs are a proven way to gain in-depth knowledge in a specific field. Completing a PhD degree is all about discovering new things and developing new skills.
There are many PhD programs students can pursue, like a PhD in Biochemistry, a PhD in Clinical Psychology, a PhD in Chemistry, a PhD in Mathematics, a PhD in Management, etc. However, one program which is gaining lots of attention is PhD in Management.
But why is PhD in Management one of the most sought-after choices among postgraduate students?
PhD in Management is an interdisciplinary course that trains students to lead a group of people, organisations, and new start-ups in various settings. The percentage of PhD degrees granted has risen by 60% in the last five years; this includes the increasing demand for PhD in Management.
In other words, among all PhD programs, the Doctor of Philosophy in Management is the most pursued degree.
Why PhD in Management?
According to the BLS, management professions offer high compensation and several other growth opportunities. The average wage for management positions is $109,760. This is not the highest salary, but it will increase after gaining experience in the field.
PhD in management courses is not just valuable for academics and research but also for various other aspects.
Jobs for managers are even expected to increase by 5% from 2019 to 2029, resulting in approx 500,000 new jobs within the industry. Some popular job options after a PhD are – teacher, policy analyst, management consultant, chief executive officer, etc.
PhD program professionals have all the skills and knowledge required to succeed in new or old businesses.
Many companies recruit management professionals in India and overseas. Some of them are - TCS, Axis Bank, Boeing, Deloitte, Ernst & Young, Google, and Qualcomm, and the list doesn’t end here.
Eligibility For PhD In Management
The structure, length, format, and application of eligibility for PhD in management vary substantially across institutions and countries.
Several universities and colleges are offering this program, which requires master-level degrees. Yet the candidates need to fulfil some common eligibility for PhD in management.
Have a look at the listed below criteria –
Students need to pass the master's and bachelor's degrees.
They need approx 45-55% marks in their previous education.
Some universities follow national or state-level entrance exams, while some consider their entrance test to check the student's capability.
Lateral entries are also allowed by some institutions, but the candidates must have work experience of around 1-4 years.
After knowing the eligibility for PhD in management, let’s check the essential skills required for students to apply for their dream job and company.
Skills Required for Pursuing PhD in Management
Students always have solid motives to apply to PhD programs. And that common motive is earning a six-figure salary with a reputed job profile. But how will students get their dream job after completing their PhD in Management? The answer is to get well-trained in essential skills.
The following skills are essential for a rewarding career option after completing a PhD in Management:
· Leadership
· Patience
· Active learning
· Numerical ability
· Decision-making skills
· Critical thinking
· Attention to detail
· Communication skills
· Organising skills
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