phd in management vs mba

MBA vs PhD – Which advanced degree is better?

In the ever-evolving professional landscape, the pursuit of higher education remains a popular route to advance your career.

But with numerous options available, how do you choose between an MBA and a PhD?

In this blog post, we dive into the unique benefits and opportunities that each of these advanced degrees offers.

From the practical business acumen and leadership skills gained in an MBA program to the deep expertise and research contributions made by PhD holders, the choice ultimately hinges on your long-term goals and personal ambitions.

We’ll explore these two distinct paths, and learn how to make the best decision for your future success.

MBA VS PHD – the debate

A quick summary of a PhD vs MBA:

What Does a PhD Get You? Pros and Cons

A PhD, the highest academic degree achievable, can open numerous doors in the job market, enabling graduates to advance in their careers.

Unlike an MBA, which primarily focuses on corporate and management aspects, a PhD offers expertise in a specific field through rigorous research and study.

As a PhD student, your goal is to contribute new knowledge to your field, be it economics, finance, accounting, or any other discipline, by crafting a thesis that contains original research.

Through the PhD program, you not only earn a valuable qualification but also gain opportunities to publish your work and present at conferences.

These activities can enhance your reputation, making you more desirable to potential employers. The salary of a PhD holder often surpasses that of someone with only an undergraduate degree, as their expertise is in high demand.

From my personal experience, obtaining a PhD can be challenging yet rewarding. It allowed me to explore my chosen field, chemistry, in depth and opened up new avenues for career growth.

However, it is crucial to consider the potential drawbacks before embarking on this journey.

Pursuing a PhD entails a significant time commitment, typically around 3-4 years, and can be quite expensive, as tuition fees for these programs can be steep.

Acquiring a PhD can provide numerous benefits, including expert knowledge, a higher salary, and opportunities for advancement in your field. However, carefully weighing the pros and cons is necessary to determine if it’s the right path for you.

Should you earn an MBA instead for the business world?

Choosing between an MBA and a PhD is a crucial decision that depends on your career goals and personal preferences. While both are advanced degrees, they offer significantly different paths.

I asked an MBA graduate and this is what they said:

Having experienced the MBA program myself, I can vouch for its practical benefits. An MBA focuses on business acumen and managerial skills, enabling you to climb the corporate ladder more quickly than a PhD. With a two-year duration, it’s a faster route to increasing your earning potential and offers a significant return on investment. Business schools emphasize teamwork, entrepreneurship, and ethics, providing graduates with a well-rounded skill set for the business world.

On the other hand, a PhD, such as a PhD in economics or any other discipline, is ideal for those passionate about research and academia. It requires several years of dedicated study, with graduates becoming experts in their niche.

PhD holders often pursue careers as researchers, professors, or consultants.

When considering whether to pursue an MBA or a PhD, weigh the pros and cons of each degree and reflect on your long-term career aspirations. Both options can be rewarding, but they cater to different ambitions and provide distinct opportunities in the professional world.

Is an MBA equal to a PhD and doctorate?

An MBA and a PhD are both advanced degrees, but they are not equal due to their differing purposes and career outcomes.

As someone who has interacted with both MBA and PhD graduates, I’ve seen firsthand the unique benefits of each degree.

An MBA is a professional degree, taking one to two years to complete, and equips students with practical business skills.

This degree is popular among those aiming to climb the corporate ladder in industries like finance, marketing, or consulting.

On the other hand, a PhD is a research-focused degree, requiring several years of dedication and original research contributions.

A PhD in economics or other fields often leads to careers in academia or research. PhD programs are highly competitive and demand an intense commitment to writing a dissertation and advancing knowledge in the discipline.

The debate between MBA vs. PhD highlights the significant differences in their focus and career paths.

While both degrees can be obtained at a business school, they cater to different ambitions and provide distinct opportunities. The choice between an MBA or a PhD depends on one’s end goal, work experience, and personal preferences.

So What’s Better, a PhD or MBA?

When considering whether to pursue a PhD or an MBA, it’s essential to evaluate your:

• personal interests,
• career goals,
• financial commitment involved in each degree.

A PhD offers the opportunity to deeply explore a specific subject, contribute to the advancement of knowledge in that field, and establish yourself as an expert.

However, the process is often lengthy and demanding, taking up to five or six years of intense research and dedication.

The payoff might not always be immediate in terms of career prospects, as academia and research can be fiercely competitive arenas.

On the other hand, an MBA equips you with practical business skills and knowledge, often leading to a broader range of job opportunities and potentially higher salaries.

The program’s duration is considerably shorter, usually taking one to two years to complete, and offers a faster return on investment.

An MBA is particularly well-suited for those seeking to climb the corporate ladder, transition into a managerial role, or even launch their own startups.

It’s important to note that some individuals choose to pursue both degrees, combining their research expertise with practical business acumen to excel in various fields.

Does anyone earn both a PhD and an MBA? Why?

Yes, there are indeed individuals who choose to earn both a PhD and an MBA, although this path is less common.

Combining the two degrees can create a unique skill set that is valuable in various fields.

For instance, a PhD holder in a specialized discipline may opt for an MBA to gain practical business skills and a broader understanding of the corporate world, which can be valuable in leadership roles or entrepreneurial endeavors.

Pursuing both degrees also allows for building diverse networks, connecting with professionals in academia and the business world.

Despite the significant time and effort required to obtain both degrees, those who undertake this ambitious path often find themselves well-equipped to navigate multiple career paths and excel in their chosen fields.

MBA vs PhD Career Options

Both advanced degrees can lead to successful careers, but they differ significantly in terms of their focus and job prospects.

An MBA degree, with its emphasis on business administration, prepares graduates for roles such as:

• management consultant,
• marketing manager, or
• finance director.

MBA holders are more likely to climb the corporate ladder quickly and enjoy higher salaries. The MBA program equips students with practical business skills, making them suitable for leadership positions in a wide range of industries.

In contrast, PhDs are more likely to become professors or researchers, with a focus on deepening their expertise in their chosen field. In science that is a very common career goal. 

While the earning potential for PhD holders may not be as high as for those with an MBA, they often find fulfillment in their academic pursuits.

Getting an MBA might be the better option for those eager to advance quickly in the corporate world and who possess a strong passion for business. 

On the other hand, getting a PhD might be more suitable for those who wish to delve into research and contribute to academia.

Wrapping Up

The decision between pursuing an MBA or a PhD is a highly personal one, hinging on individual career goals, personal interests, and the level of time and financial commitment one is willing to make. Both advanced degrees offer unique benefits and opportunities, but they cater to different career paths and ambitions.

An MBA is an ideal choice for those seeking to climb the corporate ladder swiftly, transition into management roles, or launch their own businesses. With a focus on practical business skills, MBA graduates find themselves well-prepared for leadership positions across various industries.

On the other hand, a PhD is geared towards those passionate about research and academia, providing an opportunity to become an expert in a specific field and contribute to the advancement of knowledge. While the journey may be more demanding and time-consuming, the satisfaction of making an impact in one’s chosen discipline can be deeply rewarding.

The best choice depends on your long-term goals, professional aspirations, and personal preferences. Reflecting on these factors, researching each degree thoroughly, and seeking advice from professionals and peers can help you make an informed decision that aligns with your ambitions and aspirations. Whichever path you choose, both an MBA and a PhD can be instrumental in unlocking a world of possibilities and shaping your future career.

Dr Andrew Stapleton has a Masters and PhD in Chemistry from the UK and Australia. He has many years of research experience and has worked as a Postdoctoral Fellow and Associate at a number of Universities. Although having secured funding for his own research, he left academia to help others with his YouTube channel all about the inner workings of academia and how to make it work for you.

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Why a Doctorate in Business Administration Is Becoming More Valuable

Sponsor content from upGrad.

At the turn of the 20th century, the world was industrializing at a rapid pace. Businesses were growing larger and more complex, with more employees working in more diversified divisions spread across more geographical boundaries.

As a result, demand grew for people who had special training in managing the general operations of a business, which led to the creation and proliferation of the Master of Business Administration (MBA) degree.

More than 100 years later, MBAs have become a commodity that no longer serve organizations’ core needs.

In today’s age of data and information, knowledge has become the most valuable resource. Companies don’t necessarily need more general managers who can assess broad patterns across multiple industries—they need people with deep expertise in specific domains who can analyze data and generate unique insights that lead to better business decisions.

That’s why Doctorate in Business Administration (DBA) holders are becoming increasingly valuable in the modern workplace.

DBA is a professional degree representing the highest level of qualification in management. In contrast to an MBA, it takes students on a different path toward acquiring and using business knowledge.

For an MBA, students spend two years taking a broad range of practical courses to learn about several pillars of business—such as accounting, finance, marketing, leadership, operations, strategy, and ethics—to help them become effective leaders across many industries.

By contrast, DBAs spend up to two years studying academic literature across several domains and up to two additional years designing and executing an original research project: a dissertation focused on one domain. The primary goal of a DBA is to produce scholarly individuals who have deep expertise in a field of management.

When seeking executive-level positions, DBAs’ “Dr.” titles are likely to help them stand out from their peers. DBAs can also pursue high-level positions in areas such as consulting by becoming subject-matter experts—or maintain ties with academia as full-time or adjunct professors.

DBAs’ training gives them diverse career options. The academic literature they read gives them expertise in understanding management theories that can help them analyze real-world situations and differentiate the signal from the noise. A DBA specializing in innovation can assess whether newcomers to a market pose a credible threat as a disruptive innovation to an existing company.

Students then learn advanced scientific techniques in quantitative and/or qualitative methodologies, which trains them in analyzing data to generate valid inferences that their organizations can use for decision-making purposes. Rather than relying on gut feel and graphs, DBAs can use powerful techniques such as sampling data to reduce bias, using statistical regressions to identify the strongest factors that influence an outcome, or designing an experiment to gain 100% certainty over the causal relationship between variables.

Finally, DBAs combine their business knowledge with analytical skills to design and execute original research studies, making them the world’s leading experts in particular domains.

DBAs also stand out because they represent only 2% of all people who hold higher degrees in business. In 2021, more than 250,000 students graduated with MBAs or specialist degrees in business; only 5,000 graduated with doctorates.

While a DBA may represent an attractive option that can be highly valuable to organizations today, they are not necessarily recommended for everyone.

To help you determine whether a DBA is right for you, the most important question to ask yourself centers on whether you’re satisfied with the tools and frameworks you use to analyze data and information to make important business decisions. If you’ve ever found yourself wondering where these frameworks come from—or whether there might be a better way to make decisions—consider applying to a DBA program. These programs are designed to channel deep intellectual interests and passions toward producing business knowledge that’s both theoretically novel and practically relevant.

DBA training may help you develop deeper knowledge than an MBA program will while opening doors to more ambitious careers in industry or academia. While MBA degrees are designed to meet the needs of 20th-century businesses, DBAs can help meet the needs of organizations today—and well into the future.

Learn more about how earning a DBA can help you step up your career.

MBA vs PhD in Business

Key Takeaways

• An MBA is well-suited for students who are interested in practical work experience, while PhD candidates focus on those interested in research primarily.
• If you thrive in practical business settings, seek rapid career advancement, and value hands-on experience, pursuing an MBA degree may be a good choice.
• iI you’re passionate about research, academic pursuits, specialized expertise, and making scholarly contributions, pursuing a PhD in business may align better with your goals.

Students often face the dilemma of whether to pursue a PhD or an MBA. Each program offers unique benefits and challenges. In this article, we explore the similarities and differences between an MBA vs PhD in Business, and share a comprehensive overview to help you make your decision with ease.

Featured Programs

Mba vs. phd in business: a general overview, what is an mba.

Master of Business Administration (MBA) is an advanced degree in business administration available to students at the graduate level. Earning an MBA gives you a solid grounding in all things relevant to business.

Most people who pursue an MBA do so to prepare themselves for leadership roles. Individuals holding an MBA can have any of the following designations:

• Vice President of Finance
• Accounting Manager
• Product Manager
• Chief Financial Officer
• Human Resources Manager
• Financial Analyst
• Policy Analyst

What is A PhD?

PhD is the highest level of academic achievement recognized. It is a research degree at the doctorate level and can be earned in many fields, including business. The Doctor of Business Administration ( DBA )  is one of the most popular options among those seeking the highest degree in business.

Most people who get a doctorate in business do it because they are really interested in teaching at a university or because they want to study a particular subject in depth. Designations held by individuals holding a doctorate in business include:

• Financial manager
• Management analyst
• Chief executive officer
• Sales manager
• Market research analyst

Comparing MBA and PhD in Business

Many students face the challenge of choosing between an MBA or a PhD in business. Wondering which of these programs would be the right fit for you? Comparing these programs can help you get the answer you’re looking for.

Similarities

Competitive admissions.

Admission to MBA  and PhD programs can be highly competitive due to factors like limited funding, a high number of applicants, and limited available slots. This competitiveness underscores the importance of presenting a strong application that highlights academic achievements, relevant experience, and MBA career aspirations .

Enrollment Requirements

Candidates typically need a bachelor’s degree to apply for MBA programs, although a background in business can bolster their application. PhD programs also typically require a bachelor’s or master’s degree in the relevant field.

This prerequisite makes sure that applicants have a foundational understanding of academic principles and are prepared for graduate-level coursework.

Standardized Tests

Prerequisites for MBA programs often include standardized tests such as the Graduate Management Admission Test (GMAT)  or the Graduate Record Examinations (GRE). Similarly, some PhD programs may require candidates to  take the GRE  too.

These tests assess skills in areas like analytical writing, quantitative reasoning, and verbal reasoning, helping admissions committees evaluate applicants’ readiness for advanced academic studies.

Differences

Work experience.

MBA programs often value applicants with relevant work experience, especially for executive or part-time MBA programs. Professional experience can enhance classroom discussions, bring real-world perspectives to coursework, and contribute to a diverse learning environment.

In contrast, while work experience can be beneficial for PhD applicants, it is generally not a mandatory requirement for admission.

Curriculum Focus

The subjects covered in an MBA program compared to a PhD program are what sets them apart. MBA programs typically provide a comprehensive understanding of business practices, including finance, marketing, operations, and strategy. The curriculum emphasizes practical skills, leadership development, and decision-making in business contexts.

In contrast, PhD programs prioritize research skills, critical thinking, and academic contributions to a specific field of study. Doctoral students dive deep into a chosen area of research, conducting original investigations and contributing new knowledge to their discipline.

For instance, one student might choose to learn about marketing and how it works for small businesses. Instead of trying to be an expert on a bunch of different things, you will focus on one specific area of business and learn about its ins and outs.

Degree Duration

The time commitment required to complete an MBA degree  can vary from one institution to another. While there are MBA programs that can be completed in 1-year , two years is the typical duration of a full-time MBA program . If students enroll full-time in an accelerated MBA program , they can finish the degree in eleven to sixteen months.

It could take three to six years to finish a part-time MBA degree. Part-time executive MBA programs typically have a duration of eighteen and twenty-four months.

Generally, it takes students four to six years to finish a PhD program. However, for some, it can take as long as eight years. The duration of the program might differ greatly from one student to another and from one curriculum design to another.

Distinguishing Factors

Besides the differences mentioned above, there are some major distinguishing factors between an MBA and a PhD in business. Going through them will further help you evaluate the right choice for yourself.

Networking Opportunities

MBA programs offer a diverse and dynamic networking environment, bringing together professionals from various industries and backgrounds. Students in MBA programs can leverage these networking opportunities to build professional connections, exchange ideas, and access career development resources.

On the other hand, a doctorate in business offers very few opportunities for peer coordination, as the focus is primarily on individual research and scholarly pursuits.

Research vs. Practical Experience

A fundamental distinction between MBA and PhD programs is their emphasis on research versus practical experience. Completing a thesis is a necessary requirement for graduation for most master’s degree programs. While some MBA programs emphasize theoretical understanding and research, others prioritize practical experience.

In contrast, doctoral students undergo rigorous testing to demonstrate their expertise. These tests include candidacy and comprehensive exams. Additionally, a dissertation, a detailed exploration and analysis of a specific subject or research area, is mandatory for earning a PhD.

Doctoral candidates carefully select a thesis topic, conduct extensive research, and present their findings. The culmination of their doctoral journey involves defending their dissertation before an advisory committee, showcasing their mastery of the subject and research skills.

Learning Styles

Choosing between an MBA and a PhD in business involves understanding their distinct structures and learning styles. MBA programs follow a structured path with core courses and specialized tracks, emphasizing practical projects and teamwork in business.

On the other hand, PhD programs offer a more individualistic journey, focusing on research and personal exploration within the field.

Both attract students from diverse backgrounds, with MBA programs often catering to working professionals through flexible schedules.

When can an MBA in business be useful?

So far you’ve learned that even though they serve similar objectives, MBA and PhD are different. Below is a list of plausible ways an MBA can be useful:

• Career Advancement: An MBA benefits professionals seeking rapid career progression within corporate environments. It equips them with a comprehensive understanding of various business domains, leadership skills, and strategic decision-making capabilities.
• Leadership Roles:  An MBA can benefit individuals aiming for leadership positions such as Vice President of Finance, Chief Financial Officer, or Human Resources Manager. The program hones their managerial and organizational skills, preparing them to lead teams and drive business growth.
• Industry Transition:  MBA programs often attract professionals looking to transition into new industries or roles. The diverse curriculum and networking opportunities MBA programs offer facilitate this transition by providing insights into different sectors and fostering connections with industry experts.
• Entrepreneurship:  Many MBA graduates venture into entrepreneurship , leveraging their business acumen and acquired skills to start and manage their own businesses. The program provides valuable knowledge in areas like marketing, finance, and operations, which are important for entrepreneurial success.
• Global Opportunities:  With globalization shaping modern business landscapes, an MBA focusing on international business can be particularly useful for professionals seeking global career opportunities. It equips them with cross-cultural management skills and an understanding of international trade dynamics.

When can a PhD in business be useful?

A Ph.D. in business is a prestigious and advanced degree that opens doors to a wide range of impactful career paths. Beyond its academic significance, this degree equips individuals with many other skills, making them invaluable assets in various professional domains.

Let’s see where a PhD in Business can be particularly useful.

• Academic Careers:  One of the primary paths for PhD graduates in business is academia. They can pursue careers as professors or researchers in universities, contributing to developing knowledge in their field and mentoring future business leaders.
• Research Excellence: PhD programs emphasize rigorous research methodologies and critical thinking. Individuals interested in conducting in-depth research on specific business topics, publishing scholarly articles, and advancing the theoretical foundations of business disciplines find PhD programs highly rewarding.
• Specialized Roles:  Some specialized business roles, such as Chief Economist, require a deep understanding of economic theories and their practical applications. A PhD in business focusing on economics or related fields can be instrumental in securing such positions.
• Consulting and Advisory Roles:  PhD holders in business often excel in consulting and advisory roles, offering strategic insights, data-driven recommendations, and innovative solutions to businesses and organizations.
• Leadership in Research Institutions:  PhD graduates can lead research institutions , think tanks, or policy development organizations. Their expertise and research acumen contribute to evidence-based decision-making and the advancement of industry practices.

Which is better — An MBA or a PhD in business?

The decision between an MBA and a PhD in business ultimately depends on your career aspirations, interests, and desired impact. If you thrive in practical business settings, seek rapid career advancement, and value hands-on experience, an MBA may be better suited.

On the other hand, if you’re passionate about research, academic pursuits, specialized expertise, and making scholarly contributions, a PhD in business may align better with your goals. It’s important to evaluate your priorities, long-term objectives, and preferred learning and work environments when making this decision.

3 Tips for Choosing Between an MBA and a PhD

Making the choice between the two programs is going to be a tough decision and you’ll need to get all the help you can. So, we’re sharing some tips that can help you assess your priorities, interests, and career trajectory.

Consider these tips when you’re trying to figure out if earning a doctorate will benefit you more or an MBA.

Consult a Professional Guidance Counselor

Consult a career advisor  if you are confused about which degree will serve your goals best. They are a great resource for learning about the typical qualifications for your dream job.

You can learn about the requirements of different MBA and PhD programs and assess whether they are a good fit for you.

You can find independent career counselors or take advantage of the free services offered by career guidance counselors at educational institutions.

Find out Each Program’s Commitments

Consider the time and money needed for each program to make sure the one you choose is a beneficial investment for you in the long run. One way to do this is by weighing the time and money spent on the program against the potential gain in income.

Consider Your Preferred Learning Style

Consider your learning style before committing to a degree program since some may place a greater emphasis on certain approaches than others.

Courses that primarily include group work are common in graduate degree programs. In a PhD program, you can be expected to devote the majority of your time to extensive solo research.

Related Questions

Is acquiring a phd beneficial.

A doctorate in business shows that you are very knowledgeable and skilled in your field. It opens doors to rewarding professions in the public and private sectors, such as consulting, investment banking, and others.

Which MBA is most difficult?

One of the most challenging MBA specializations is operations management.

Is earning a PhD stressful?

Managing a personal life and academics and developing new research can be challenging. Generally, PhD students are known to experience stress and mental health problems along the way.

A study on PhD failure rate concludes that 19.5% of PhD candidates do not pass their final exam, and 16.2% drop out of the program before completion. However, overall 85% of PhD applicants are able to finish the program and earn their degree.

If you thrive on competition and practical challenges, an MBA might be the right choice for you. Alternatively, if you enjoy exploring theoretical frameworks, intellectual growth, and mentorship, a PhD could be ideal. If you’re someone who enjoys both aspects, you could consider going for a dual PhD.

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The MBA vs PhD Debate

• By Grace M.
• August 14, 2020

If there’s one question that seems to get business university professors flinching at, it’s the all-to-often “ what’s better – an MBA or a PhD? ”

The reason for this is clear – asking such a question seems to suggest that the result of obtaining an MBA or PhD is the same. This couldn’t be any further from the truth.

Let us first quickly break down what an MBA and a PhD is.

MBA is short for  Master of Business Administration , while PhD is short for  Doctor of Philosophy . Just from the first word of both types of degrees, we can already see that there’s an obvious difference between the two, but let’s proceed.

In terms of the required time commitment, an MBA will usually take two years to complete full time. On the other hand, getting a PhD can take four years (unless you decide to undertake it part time or enrol into an accelerated online PhD degree programme). So if time is your primary concern, then an MBA would be the obvious path for you.

As an MBA student, you’ll find that much of the learning curriculum is closely related to a professional environment. In fact, this is why some universities mandate at least one year of actual work experience as an entry requirement. As a result of the masters degree being so closely related to business in practice, an MBA student will usually research a broad range of subjects. Each of these subjects would focus on a unique business aspect such as accounting, consulting, economics, marketing, finance, leadership, management, ethics and trading.

On the other hand, a Business PhD student will only focus on one subject and do so in much greater detail. On top of this, the PhD student will usually also be expected to support lecturers with teaching classes and leading tutorial sessions.

The reason for this difference is because a doctorate is an advanced degree which aims to make you an expert in a specialised field. Because of this, a PhD is regarded as the higher professional qualification of the two.

MBA vs PhD Entrance Requirements

Due to the amount of funding available, a high number of applicants and a few available positions, the competition for entry into MBA and PhD programmes can be very high.

The specific requirements depend on the country you intend to study in; however, most MBA programmes require you to sit Graduate Management Test ( GMAT ) or Graduate Record Examinations ( GRE ). Regardless of whether you need to undertake a pre-qualification exam or not, most universities prioritise applicants who already have a level of professional experience.

The reverse is true for PhD programmes. For PhDs, you will require a relevant undergraduate or postgraduate degree (usually with a 2:1 or 1st), but you will not be expected to sit any pre-entrance exams nor will you be expected to have working experience. As a result, most students who do a business PhD are younger than those who do an MBA.

Earning your MBA or Doctorate Online

As if the MBA or PhD debate wasn’t enough, the online versions of these degrees are starting to get thrown into the comparisons. With the fast-developing rate of the internet and a general trend towards online global connectivity, higher education is experiencing a significant transformation.

Not only is it possible to get a doctorate online , MBA programmes and Masters in Project Management are also much more widely available online from top-ranking universities compared to several years ago.

While online learning may not be for everyone, many adult students, including myself, favour online degrees due to the flexibility they provide to on-campus or distant learning programmes. As someone who used to dedicate several hours a night on a university campus in a neighbouring area, take it from me, being able to study from your home office isn’t only easier, it’s much less stressful.

MBA vs PhD Career Options

So what gives a better return on investment in terms of career options, an MBA or a PhD?

The MBA is a specialised business degree, and as such, anyone who holds it is a valuable asset for any business. Industries are all about using employee abilities to the organisation’s benefit, and an MBA isn’t something an organisation should or will ignore.

Having a Masters in Business Administration is usually associated with greater career prospects. This is reflected in the speed that an MBA degree holder can climb the corporate ranks compared to an individual who doesn’t hold the specialised degree. Not only can they progress faster, but MBA holders typically also achieve higher positions during their career. This can include highly sought after positions such as associate directors and senior executives (assuming the student is ambitious and dedicated enough). Another benefit of getting an MBA is surrounding earning potential. It’s not unusual for those with an MBA from the London Business School, Oxford University or Imperial College London to receive starting salaries in excess of £50,000 a year .

In comparison, most business PhD holders won’t follow the same path as their MBA colleagues. Instead, most PhD graduates will enter into either a research or academic career. Because of this significant difference in the typical career path, which of the two types of degrees is better suited for you will depend on exactly what it is you want to do after completing your studies.

Finding a PhD has never been this easy – search for a PhD by keyword, location or academic area of interest.

PhD after MBA

Hopefully, it should be clear by now that an MBA and a PhD are two very different degrees, and because of that, it should also start to become clearer regarding which degree is for you.

If this isn’t the case, it may be useful to know that some business students, after completing their undergraduate degree, obtain an MBA and then move onto a PhD. This actually makes a lot of sense since the two forms of professional qualifications cover different stages of a student’s learning, and on that basis, there’s no reason why you couldn’t do both.

In fact, a few universities offer programmes that combine both degrees as a PhD-MBA dual degree. They are better known as PhD-MBA Integrated Degrees (or PhD-MBA Joint Degrees in US Graduate Schools) and can be the perfect option for anyone who wants to get the best of both qualifications. You don’t necessarily need an MBA for PhD eligibility, but they can prove beneficial as the transition from MBA to PhD will usually be less arduous than from Bachelors to PhD.

So what’s Better, a PhD or MBA?

The final answer depends on you. If you’re an individual who enjoys going up against others or the market, then an MBA will probably be the right option for you. On the other hand, if you prefer the realms of researching business theories, challenging yourself mentally and being able to pass on knowledge to others, then a PhD could be the better option. If both options sound interesting to you, then you may find a PhD-MBA dual degree of interest.

In the end, then, the question isn’t about whether an MBA is better than a PhD, but which one is personally better for you.

Do you need to have published papers to do a PhD? The simple answer is no but it could benefit your application if you can.

The Thurstone Scale is used to quantify the attitudes of people being surveyed, using a format of ‘agree-disagree’ statements.

Thinking about applying to a PhD? Then don’t miss out on these 4 tips on how to best prepare your application.

Join thousands of other students and stay up to date with the latest PhD programmes, funding opportunities and advice.

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The title page of your dissertation or thesis conveys all the essential details about your project. This guide helps you format it in the correct way.

A science investigatory project is a science-based research project or study that is performed by school children in a classroom, exhibition or science fair.

Dr Roberts gained her PhD from Duke University in 2014 in the field of biomedical engineering. She now runs her own business named Personal Finance for PhDs.

Rakhi is a PhD student at the Institute of Chemical Technology, Mumbai, India. Her research is on the production of Borneol and Menthol and development of separation process from the reaction mixture.

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Mba vs. phd: choose your advanced degree path.

In 2021, it is practically conventional wisdom that an advanced degree like a master’s degree, an MBA, a PhD, a JD or an MD is a necessity if you want to give yourself the best chance of a successful, meaningful career. While professional doctoral degrees like JDs and MDs will lead you down very specific career paths, it can be harder to envision the career outcomes associated with more versatile degrees like the MBA or the PhD.

People pursue these two advanced degrees for a variety of reasons, and no two journeys through higher education and into professional excellence are quite the same. If you are internally debating the merits of earning an MBA vs. earning a PhD, read some of the career pathways you might take with either degree—or with both of them.

Who earns a PhD? And what do they do with it?

People who pursue a doctoral degree typically do so out of a commitment to producing new knowledge at the leading edge of a subject or field that holds deep meaning for them. This can describe an incredibly diverse array of pursuits, from developing innovative new materials for medical devices and developing novel modeling techniques for research applications to examining archival records of media production and scrutinizing the linguistic elements of ancient texts.

People often earn PhDs with the goal of an academic career in mind. This is not necessarily the case in all scholarly disciplines, however, and even in those that tend to be more academic focused, recent trends may be demonstrating a shift. Those who earn PhDs in STEM fields or in the data-driven social sciences may do so with the end goal of a professional career in mind, specifically one where their skills at designing and conducting research will be rewarded with heightened responsibility and increased pay. And even in humanities disciplines with seemingly few analogues in the professional world, graduate students are increasingly envisioning their futures outside of the classroom as tenure-track and full-time professorships grow scarcer by the year.

How can a PhD help you in the business world?

The skills and mindset you develop in a PhD program are certainly applicable in the “real” world, regardless of whether your subject of choice has a direct pathway to a professional job. If you have earned a PhD in a STEM field, you will likely enter the professional workforce at a higher pay grade than you would without your degree. You may find yourself fast-tracked toward a management role as well, as your experience designing and overseeing research projects can position you well to lead a team of employees, manage workloads, and successfully meet deadlines.

PhD holders in the social sciences and humanities may also find their skills in high demand in the business world, even if they might need to spend a bit of time learning how to convey their value on a resume and in a job interview. Research in social sciences fields like sociology and political science often requires analysis of large and complex data sets; the skill set they develop in completing this work can translate easily into a business analytics role. And the persuasive writing, editing and organization skills humanities graduate students develop are well-suited to roles in strategic communication or marketing.

Should you earn an MBA instead?

If you are considering whether to earn an MBA or a PhD and you know your eventual goal is to obtain a leadership role in a business organization, the MBA is likely the right path for you. An MBA can make an immediate impact on your earnings and on the career opportunities available to you. It is also an extremely versatile degree, and can lead to advancement whether your career already seems to be heading down a relatively narrow path in a specific field or whether you intend to keep your options open for a potential pivot.

Additionally, an MBA might also be your best bet if the kind of fulfillment you get from your work comes less from successfully completing your assigned task or from navigating the day-to-day challenges of your particular area of technical expertise and more from positioning your organization for success. If you would rather dedicate your time and energy toward strategizing your company’s business goals and the best ways to achieve them, and to truly leading rather than simply managing , you should strongly consider enrolling in business school.

The most significant difference your choice to earn an MBA instead of a PhD will have on your life is on the amount of time and energy you have to dedicate to it. A PhD is a full-time commitment in which work typically balloons well past 40 hours per week, with little respect for evenings or weekends. It will take an absolute minimum of four years to complete, and more likely five to seven. An MBA, conversely, will typically be attainable in just two to 2.5 years and can be completed while you keep your full-time job—and your full salary. Seek out a top-tier online program if you would like your MBA studies to fit most conveniently around your existing schedule and responsibilities.

Does anyone earn both a PhD and an MBA? Why?

It is not unheard of for a single person to earn both a PhD and an MBA, but the order in which one does so is often determined by their eventual career goals, including by the way these goals might evolve over the course of their career. PhD holders who are working in fields that are directly related to their research may, after some years, opt to return to school for an MBA to help them prepare to climb the corporate ladder at large technical organizations. In smaller companies, such as engineering or biotechnology startups, the org chart may tilt heavily toward people with technical backgrounds rather than business ones; adding an MBA and the skills that come with it to your resume in an environment like this can benefit the entire organization.

Or, if you earn your MBA and spend time working and advancing in a professional field only to eventually realize your true calling is to teach others, you may choose to earn a PhD in economics or a business discipline to help you transition into a professorship in a business school. Preparing the next generation of business leaders can be extremely meaningful work, and many successful professionals decide the most positive impact they can make on the business world is by taking this route.

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No matter which degree path you take, continuing your education at a higher institution is always an honorable goal. For most people, it’s easy to decide to move ahead to the level of a bachelor’s degree, and then from there, it’s a simple stretch to a master’s. But once you have your MBA, should you stop or continue on to your doctoral degree? There’s where most of us have our debate.

Obtaining your MBA is hard enough, but a PhD requires intensive concentration on a focus area that, for at least two years and sometimes longer, encompasses your entire life. PhD graduates receive an education in which the knowledge they gain is used to make an impact in innovative ways on the world. There are some advantages to both the MBA and the PhD that make them both good choices, depending on what you want in your career.

What Does an MBA Do

The MBA is one of the most popular graduate program degrees. Each program offers a different skill set, but all of them are business-related. There are educational paths offered in areas like statistics, finance, accounting, economics, leadership, ethics, management, and entrepreneurship, among many others.

By obtaining your MBA, you’ll be valuable to industries around the world because you’ll learn your hard skills, but you’ll also have experience with soft skills to make you a better “people person.” Through courses designed to develop leadership, analytics, and critical thinking, you’ll be able to handle teamwork, individual work, and communication in your field of study.

What Does a PhD Get You?

The concept of a Doctor of Philosophy might not sound like what you want to do with a field completely unrelated to that, but it’s actually a professional degree that designates you as a specialist in the field of your choice. Moving away from today’s idea of philosophy, the word originated from the Greek word philosophia , which means “a love of wisdom.” When you are passionate about a chosen subject and love to find the wisdom in it, you can aim for a PhD.

With a PhD, you can teach at any level or obtain work in a specialized position.

The PhD is a postgraduate academic degree that you obtain when you take the required courses and submit a thesis or dissertation on an original topic that shows you’re qualified to be considered an expert on the field. It’s the highest degree you can achieve, in general.

Debating the Pros and Cons of Each

A PhD isn’t for everyone, but if you decide it’s what you want to do, it’s a very impressive goal! Many older learners are returning to school for their PhD today because it’s now the sought-after degree in businesses around the world. They want to advance their career paths, and an MBA isn’t cutting it.

With so many online courses available now, it’s easier than ever to return to school for your PhD. But why would you want to? There are advantages and disadvantage to both, such as:

●      You can obtain many jobs in your chosen career field with an MBA, so it allows you to get started earlier and begin making money sooner, with less student debt.

●      An MBA makes you more valuable in industries because it’s a specialized business degree.

●      An MBA gives you more opportunities to progress further in your field of choice and increases your earning potential.

●      A PhD, however, gives you access to jobs in the research or academic world.

●      The average PhD holder makes significantly more annually than an MBA holder.

●      Obtaining a PhD young gives you an increased return on your investment.

●      MBAs are becoming commonplace, while PhDs are in demand in every industry around the world.

If you want to ensure that you’re held as valuable in your career and have as many doors open as possible, the PhD is the way to go. However, if you are solely interested in business and want to live comfortably without the excess stress of continuing education, the MBA serves your purpose.

Impactio Makes Publishing Easier

Every higher institution program requires extensive written work, and once you graduate and enter the academic field as a career, you’ll be expected to publish your findings frequently. The work you write is predominantly knowledge-based from your expertise, but when you have a program like Impactio that makes it easier to format and design your article, the stress load is reduced.

Impactio is an all-in-one software solution designed for and used by expert scholars everywhere. The tools you need to create professional PDF documents and web-based publications are at your fingertips, so you can further your education or continue exploring your research!

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Woffex » Blog » Comparing the Advantages of a Ph.D. in Business Management to an MBA

September 8, 2023

Comparing the Advantages of a Ph.D. in Business Management to an MBA

Unlocking the power of a ph.d. in business management.

In the ever-changing landscape of business education, the doctoral degree in business management has become a distinct and attractive field, offering students a unique opportunity to dive into areas of theory and research where a master of business administration (MBA) can only graze. So, what is the difference between the two degrees and what exactly are the benefits of earning a PhD in business management?

Why the MBA Falls Short

As I’ve witnessed the historical evolution of business education, I’ve seen the MBA, the perennial leader among advanced business degrees, become the choice of many aspiring corporate leaders. According to the Bureau of Labor Statistics (BLS), it is the most coveted degree for those seeking a management position, whether as a management analyst, department director, or even vice president. It is a golden ticket that often unlocks the door to career advancement and a higher rung on the corporate ladder.

However, as I traveled through the diverse world of business, I also encountered a fascinating dichotomy. While an MBA is undoubtedly a powerful tool, it does not have a monopoly on business success. Surprisingly, 26 percent of business management professionals do not follow the traditional path of an employee. They  choose speech topics  to become consultants.

And this is where the intrigue begins. Among these consultants, you will find a colorful spectrum of educational levels. Some can boast of an illustrious MBA degree on their resume, while others proudly hold only a bachelor’s degree or even a high school diploma. Yes, you read that right-several newcomers to the field have challenged conventional wisdom by navigating the complex landscape of entrepreneurship without the traditional crutch of academic degrees. They have proven that business success is not limited to the classroom; it’s about innovation, determination, and that special spark that turns an idea into a thriving corporation.

Against this background, you may wonder: Why, then, do some people seek a PhD in business management when an MBA reigns supreme as the usual ticket to corporate prominence and management consulting?

Let’s start a journey to unravel the mysteries and uncover the compelling benefits of a PhD in business management.

Exploring the Distinct Advantages of a Ph.D. in Business Management

As I immersed myself in the dynamic field of business education, I appreciated the intriguing differences between two different degrees: the Master of Business Administration (MBA) and the Doctor of Philosophy in Management. While an MBA provides future leaders and entrepreneurs with practical skills through hands-on training and case studies, a PhD in management plunges into the seas of business theory, research, cross-analysis, and the creation of a comprehensive management theory dissertation.

Both paths cover important topics such as finance, accounting, taxation, business law, management, human resources, and international business. You don’t have to  buy essays on Reddit  right now. After all, a doctorate takes you on a more intellectual journey, encouraging broad discussions, theoretical research, and deep dives into the intricacies of business practice.

One interesting aspect that distinguishes these degrees is their career trajectories. MBA graduates often choose careers as corporate managers or entrepreneurs, applying their practical skills in various business environments. In contrast, doctoral degree holders have the opportunity to combine academic and corporate careers. While they can pursue full-time professorships, MBA holders usually face difficulties in obtaining full-time academic positions.

Now, let’s delve into the realm of salaries. According to Salary.com, the  average salary for business professors  hovers around $131,438. Meanwhile, the  Bureau of Labor Statistics reports  a median salary of $73,570 for all individuals in management roles. However, comparing these figures is like comparing apples to oranges.

PhD candidates in business management have a unique opportunity to combine the best of both worlds. They can enjoy the role of a full-time professor while also working as highly skilled part-time management consultants, gaining the benefits of both fields. On the other hand, MBA graduates who reach executive positions in large multinationals can earn seven-figure salaries along with attractive bonuses. So, when it comes to financial considerations, the decision between a PhD and an MBA should be driven by a passion for research and theory, not monetary aspirations.

Ultimately, the choice between these two paths depends on personal inclinations and career goals. This decision requires careful research, participation in academic fairs, conversations with experienced business professors, and exploration of various resources, including books, career development seminars, and online information. A doctoral degree in business management offers the allure of a slow, intellectually rewarding academic career or the bright, fast-paced life of the corporate world. There is no definitive right answer, but for the right person, the benefits of a doctorate can be immeasurable.

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Brandon Galarita

Brandon Galarita is a freelance writer and K-12 educator in Honolulu, Hawaii. He is passionate about technology in education, college and career readiness and school improvement through data-driven practices.

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PhD Program curriculum at MIT Sloan is organized under the following three academic areas: Behavior & Policy Sciences; Economics, Finance & Accounting; and Management Science. Our nine research groups correspond with one of the academic areas, as noted below.

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The PhD Program is integral to the research of MIT Sloan's world-class faculty. With a reputation as risk-takers who are unafraid to embrace the unconventional, they are engaged in exciting disciplinary and interdisciplinary research that often includes PhD students as key team members.

Research centers across MIT Sloan and MIT provide a rich setting for collaboration and exploration. In addition to exposure to the faculty, PhD students also learn from one another in a creative, supportive research community.

Throughout MIT Sloan's history, our professors have devised theories and fields of study that have had a profound impact on management theory and practice.

From Douglas McGregor's Theory X/Theory Y distinction to Nobel-recognized breakthroughs in finance by Franco Modigliani and in option pricing by Robert Merton and Myron Scholes, MIT Sloan's faculty have been unmatched innovators.

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“MIT Sloan PhD training is a transformative experience. The heart of the process is the student’s transition from being a consumer of knowledge to being a producer of knowledge. This involves learning to ask precise, tractable questions and addressing them with creativity and rigor. Hard work is required, but the reward is the incomparable exhilaration one feels from having solved a puzzle that had bedeviled the sharpest minds in the world!” -Ezra Zuckerman Sivan Alvin J. Siteman (1948) Professor of Entrepreneurship

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I’m going to say it before you even think it. Yes, with both a PhD and MBA, I’m overeducated. People marvel (or snark, depending): “You have both a PhD and an MBA? You must really like school.” The fact of the matter is, I like learning and sometimes that involves school, but mostly it involves learning by doing.

For those of you unfamiliar with what it really takes to get a PhD, a PhD in the life sciences is basically a long, poorly paid apprenticeship. After you are done with your one and a half years of classes, you work in unpaid practicums, or for minimum wage as a research assistant, for four years. As a graduate research assistant, the annual stipend from the National Institutes of Health is currently $22,920 -- and you are not working a cushy 40 hours a week. Try more like 60 to 70. So, it’s a factual statement to say a PhD is essentially a glorified way to work for minimum wage for years. The notion that you are chillaxing reading books and pontificating in an ivory tower should be put to rest.

People want to know: which was most helpful in starting my company? They seem truly disappointed when I say “both!” They want to know: vanilla or chocolate? Pick one! But, truly both have been essential to pymetrics, in large part because of the nature of the company. To give a bit of background: I am CEO and co-founder of  pymetrics , a neuroscience-based recruiting platform that matches best-fit candidates with compatible careers. We are a life sciences technology, so it would be hard to do without the decade that my co-founder and I both put into learning the technology through a PhD and then a postdoc (more poorly paid work). It is not something you can learn in a 6 week class. There are some very hard skills that you learn by doing over and over again: experimental methods, data analysis, assessment, etc.

However, my MBA is equally valuable to the success of our company. When I told my fellow PhD brethren that I was contemplating an MBA, the disdain was palpable (and often audible).  “What a waste of time… an MBA is a BS degree.” (And they did not mean bachelor of science .) Well, it is expensive, but to say that an MBA is a waste of time is truly short-sighted.

For the bankers and consultants out there, an MBA might not be the transformative and completely foreign experience it was for me. Five years of either probably gives you a solid foundation in the business world. However, for the rest of us non-bankers and consultants (and in my program, that was about a third of the students), I would say it was a tremendous learning experience. If you had never set foot in corporate America, like myself, it was invaluable. Where else do you learn accounting, marketing, basic finance, operations, etc. in such a short period of time? For those scientists out there who scoff at an MBA, I would say that they don’t realize what they are missing. And often that is to their detriment, because a business is contingent on having basic business skills which, unfortunately, are not covered in the 1.5 years of classes or the 4 years of poorly-paid research work of a PhD program.

Aside from skills like pricing and building a financial model, the other aspects of an MBA that were truly essential were two-fold. One was realizing that business, unlike science, is tolerating and making decisions in the face of (often significant) ambiguity. Science is precise and exact. In fact, if you make a claim that cannot be 100% substantiated by scientific evidence, you are seen as a poor scientist. And, in all fairness, that should be the case in science because it is the endeavor of building a body of knowledge that (hopefully) we can deem as truth. All those scientific laws out there – relativity, thermodynamics - would be pretty awful if they only worked in 70% of cases. In science, you seek knowledge and truth, and the closer you can get to that, the better. And, as a result, the time scale of science is very very very very slow.  Did I mention it was slow? Very slow.

The world of business does not and cannot operate that way. In business, is all about making decisions with imperfect information.  Things need to happen today so one cannot wait for perfect (or close to perfect) information. As many wise business people say, perfect is the enemy of good. So as a scientist turned entrepreneur, I had to become comfortable with ambiguity and uncertainty. However, to this day I think my scientist self gets the better of me at times, because it is truly hard to engage in the act of aggrandizing and outright fabricating (often in the name of ‘outlining the vision’) the way that I sometimes see other business people do.

The other thing that was a very valuable learning experience for me is that while we sell a science / technology product, business development and sales are all about the personal relationship. While you need to have a product that works and does what you say it does in order to sell it, the converse is not true: a working product will not sell itself without the personal relationship. Discovering this was a learning experience for me – and somewhat of a pleasant one, because I have always valued relationships. There is so much psychology to business development – understanding people’s motivations, understanding what is driving them to try our and buy your product – that it really does not come down to just having a technology product that works.

Ultimately, relationships are what drive the business forward because, as a startup, people are taking a gamble on you. The people that vouch for you – whether it be investors or clients or users – do so not necessarily because they’ve technically vetted your product. They support you because you have inspired trust and faith in them. Again, this is not how the scientific process works.

I see my work as the culmination of the two very different parts of my background mashed together. My scientific knowledge gave me the insight to see how I could apply neuroscience concepts to a problem that was made evident to me in business school: recruiting and retaining quality talent. Without both parts of my experience, pymetrics would not have come to fruition.

This is not to say that everyone must immediately rush out and get as many degrees as possible in the hopes of divining their life’s mission and purpose along the way. The bottom line is this: if you pursue the things that you love, life often finds a way to show you how you can contribute the passions that drive you to a bigger cause.

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Master's vs PhD | A Complete Guide to the Differences

Published on November 27, 2020 by Lauren Thomas . Revised on May 10, 2024.

The two most common types of graduate degrees are master’s and doctoral degrees:

• A master’s is a 1–2 year degree that can prepare you for a multitude of careers.
• A PhD, or doctoral degree, takes 3–7 years to complete (depending on the country) and prepares you for a career in academic research.

A master’s is also the necessary first step to a PhD. In the US, the master’s is built into PhD programs, while in most other countries, a separate master’s degree is required before applying for PhDs.

Master’s are far more common than PhDs. In the US, 24 million people have master’s or professional degrees, whereas only 4.5 million have doctorates.

Table of contents

Master’s vs phd at a glance, which is right for you, length of time required, career prospects, costs and salaries, application process, other interesting articles, frequently asked questions about master's and phd degrees.

The table below shows the key differences between the two.

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A PhD is right for you if:

• Your goal is to become a professor at a university or some other type of professional researcher.
• You love research and are passionate about discovering the answer to a particular question.
• You are willing to spend years pursuing your research even if you have to put up with a lot of dead ends and roadblocks.

A master’s degree is the better choice if any of the following apply:

• You want to continue studies in your field, but you’re not committed to a career as a professional researcher.
• You want to develop professional skills for a specific career.
• You are willing to pay a higher upfront cost if it means finishing with your degree (and thus being able to work) much faster.
• You want the option to study part-time while working.

The length of time required to complete a PhD or master’s degree varies. Unsurprisingly, PhDs take much longer, usually between 3–7 years. Master’s degrees are usually only 1–2 years.

Length of a master’s

Master’s degrees are usually 2 years, although 1-year master’s degrees also exist, mainly in the UK.

Most of the degree consists of classes and coursework, although many master’s programs include an intensive, semester-long master’s thesis or capstone project in which students bring together all they’ve learned to produce an original piece of work.

Length of a PhD

In the US, a PhD usually takes between 5 and 7 years to complete. The first 2 years are spent on coursework. Students, even those who choose to leave without finishing the program, usually receive a master’s degree at this point.

The next 3–5 years are spent preparing a dissertation —a lengthy piece of writing based on independent research, which aims to make a significant original contribution to one’s field.

Master’s degrees tend to prepare you for a career outside of academia, while PhDs are designed to lead to a career in research.

Careers for master’s graduates

There are two types of master’s degrees: terminal and research-intensive. The career prospects are different for each.

Terminal master’s degrees are intended to prepare students for careers outside of academia. Some degrees, known as professional degrees, specifically prepare students for particular professions; these include the Master of Public Policy (MPP), Master of Business Administration (MBA), Doctor of Physical Therapy (DPT), Master of Fine Arts (MFA), and Master of Public Health (MPH) degrees.

Other master’s degrees, usually Master of Arts (MA) or Master of Sciences (MS or MSc) degrees, do not necessarily lead to a specific career, but are intended to be a final degree. Examples include an MS in Communications or MS in Data Analytics.

In research-intensive master’s programs, students take coursework intended to prepare them for writing an original piece of research known as the master’s thesis . Such programs are usually intended to prepare for further study in a doctoral program.

Careers for PhD graduates

As research degrees, PhDs are usually intended to lead to an academic career. A PhD can be thought of like an apprenticeship, where students learn from professional researchers (academics) how to produce their own research.

Most students aspire to become a university professor upon the completion of their degree. However, careers in academia are highly competitive, and the skills learned in a doctoral program often lend themselves well to other types of careers.

Some graduates who find they prefer teaching to producing research go on to be teachers at liberal arts colleges or even secondary schools. Others work in research-intensive careers in the government, private sector, or at think tanks.

Below are a few examples of specific fields and non-academic careers that are common destinations of graduates of those fields.

• Computer Science
• Lab Sciences

Many government jobs, including economists at a country’s central bank, are research-intensive and require a PhD. Think tanks also hire economists to carry out independent research.

In the private sector, economic consulting and technology firms frequently hire PhDs to solve real-world problems that require complex mathematical modeling.

Graduate students from the humanities are sometimes hired by museums, who can make use of their research and writing skills to curate exhibits and run public outreach.

Humanities PhDs are often well-suited to research and grant-writing roles at nonprofits. Since so much of research is funded by grants, PhD students often gain a lot of experience applying for them, which is a useful skill in the nonprofit sector.

There are a wide range of non-academic research jobs for lab scientists with doctorates in subjects like chemistry, biology, ecology and physics.

Many PhD graduates are hired by pharmaceutical companies that need to perform research to create and test their products. Government agencies, such as the Environmental Protection Agency (EPA), also hire lab scientists to work on research projects.

Job prospects after graduation vary widely based on the field. In fields like management, computer science, statistics, and economics, there’s little underemployment—even graduates from less well-known programs can easily find jobs that pay well and use the skills they’ve gained from the PhD.

However, in other fields, particularly in the humanities, many PhD graduates have difficulty in the job market. Unfortunately, there are far more PhD graduates than assistant professor roles, so many instead take on part-time and low-paid roles as adjunct instructors. Even non-academic careers can sometimes be difficult for PhDs to move into, as they may be seen as “overqualified”  or as lacking in relevant professional experience.

Because career options post-PhD vary so much, you should take the time to figure out what the career prospects are in your field. Doctoral programs often have detailed “placement” records online in which they list the career outcomes of their graduates immediately upon leaving the program. If you can’t find these records, contact the program and ask for them—placement information should play an important role in your choice of PhD program.

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Although PhDs take far longer to complete, students often receive a living stipend in exchange for being a teaching or research assistant. Master’s degrees are shorter but less likely to be funded.

Both master’s degrees and PhDs lead to increased salaries upon graduation. While PhDs usually earn a bit more than those with a master’s degree, in some fields, the wages are identical, meaning that no financial benefit is gained from going on to a PhD.

Cost of a master’s

The upfront cost of a master’s degree is usually higher than a doctoral degree due to the lower amount of financial aid available. However, increased salaries also arrive faster than with a doctoral degree, because people graduate much earlier from a master’s program.

Some master’s students do receive stipends for their degrees, usually as compensation for being a teaching or research assistant. In addition, many people complete master’s degrees part time while working full-time, which allows them to fund their living costs as well as tuition.

The cost varies significantly by school and program. Public schools are usually cheaper than private ones. Some master’s degrees, such as MBAs, are notoriously expensive, but also result in much higher wages afterwards that make up for the high cost.

The master’s wage premium , or the extra amount that someone with a master’s degree makes than someone with just a high school diploma, is 23% on average. Many universities provide detailed statistics on the career and salary outcomes of their students. If they do not have this online, you should feel free to contact an administrator of the program and ask.

Cost of a PhD

PhDs, particularly outside the humanities, are usually (though not always) funded, meaning that tuition fees are fully waived and students receive a small living stipend. During the last 3–5 years of a PhD, after finishing their coursework (and sometimes before), students are usually expected to work as graduate instructors or research assistants in exchange for the stipend.

Sometimes students can apply for a fellowship (such as the National Science Foundation Graduate Research Program in the United States) that relieves them of any obligations to be a teaching or research assistant. Doctoral programs in the US tend to be better funded than in the rest of the world.

Sometimes, PhD degrees can be completed part-time, but this is rare. Students are usually expected to devote at least 40 hours a week to their research and work as teaching or research assistants.

The main cost of doctoral programs comes in the form of opportunity cost—all the years that students could be working a regular, full-time job, which usually pays much better than a graduate school stipend.

The average wage premium for PhDs is 26%, which is not much higher than the master’s degree premium.

In the US, the application process is similar for master’s and PhD programs. Both will generally ask for:

• At least one application essay, often called a personal statement or statement of purpose .
• Letters of recommendation .
• A resume or CV .
• Transcripts.
• Writing samples.

Applications for both types of programs also often require a standardized test. PhDs usually require the Graduate Record Examination (GRE), which tries to measure verbal reasoning, quantitative, critical thinking , and analytical writing skills. Many master’s programs require this test as well.

Applying for a master’s

Master’s degrees programs will often ask you to respond to specific essay prompts that may ask you to reflect upon not just your academic background, but also your personal character and future career ambitions.

Northwestern University’s Kellogg Business School requires Master’s of Business Administration (MBA) applicants write two essays, one about a recent time they demonstrated leadership and the second about their personal values.

Who you should ask for your letters of recommendation varies by program. If you are applying to a research-intensive master’s program, then you should choose former professors or research supervisors. For other programs, particularly business school, current work supervisors may be a better choice.

Some professional master’s programs require a specific test. For example, to apply to law school, you must take the Law School Admissions Test, or LSAT. For business school, you must take either the GRE or the Graduate Management Admissions Test (GMAT).

Applying for a PhD

When applying for a PhD, your resume should focus more on your research background—you should especially emphasize any publications you’ve authored or presentations that you’ve given.

Similarly, your statement of purpose should discuss research that you’ve participated in, whether as an assistant or the lead author. You should detail what exactly you did in projects you’ve contributed to, whether that’s conducting a literature review, coding regressions, or writing an entire article.

Your letters of recommendations should be from former professors or supervisors who can speak to your abilities and potential as a researcher. A good rule of thumb is to avoid asking for recommendations from anyone who does not themselves have a PhD.

If you want to know more about college essays , academic writing , and AI tools , make sure to check out some of our other language articles with explanations, examples, and quizzes.

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A master’s is a 1- or 2-year graduate degree that can prepare you for a variety of careers.

All master’s involve graduate-level coursework. Some are research-intensive and intend to prepare students for further study in a PhD; these usually require their students to write a master’s thesis . Others focus on professional training for a specific career.

A PhD, which is short for philosophiae doctor (doctor of philosophy in Latin), is the highest university degree that can be obtained. In a PhD, students spend 3–5 years writing a dissertation , which aims to make a significant, original contribution to current knowledge.

A PhD is intended to prepare students for a career as a researcher, whether that be in academia, the public sector, or the private sector.

This depends on the country. In the United States, you can generally go directly to a PhD  with only a bachelor’s degree, as a master’s program is included as part of the doctoral program.

Elsewhere, you generally need to graduate from a research-intensive master’s degree before continuing to the PhD.

This varies by country. In the United States, PhDs usually take between 5–7 years: 2 years of coursework followed by 3–5 years of independent research work to produce a dissertation.

In the rest of the world, students normally have a master’s degree before beginning the PhD, so they proceed directly to the research stage and complete a PhD in 3–5 years.

A master’s degree usually has a higher upfront cost, but it also allows you to start earning a higher salary more quickly. The exact cost depends on the country and the school: private universities usually cost more than public ones, and European degrees usually cost less than North American ones. There are limited possibilities for financial aid.

PhDs often waive tuition fees and offer a living stipend in exchange for a teaching or research assistantship. However, they take many years to complete, during which time you earn very little.

In the US, the graduate school application process is similar whether you’re applying for a master’s or a PhD . Both require letters of recommendation , a statement of purpose or personal statement , a resume or CV , and transcripts. Programs in the US and Canada usually also require a certain type of standardized test—often the GRE.

Outside the US, PhD programs usually also require applicants to write a research proposal , because students are expected to begin dissertation research in the first year of their PhD.

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Curriculum & coursework.

Our programs are full-time degree programs which officially begin in August. Students are expected to complete their program in five years. Typically, the first two years are spent on coursework, at the end of which students take a field exam, and then another three years on dissertation research and writing.

Students in the Accounting and Management program must complete a minimum of 13 semester-long doctoral courses in the areas of business management theory, economic theory, quantitative research methods, academic field seminars, and two MBA elective curriculum courses. In addition to HBS courses, students may take courses at other Harvard Schools and MIT.

Research & Dissertation

Students in accounting and management begin research in their first year typically by working with a faculty member. By their third and fourth years, most students are launched on a solid research and publication stream. In Accounting and Management, the dissertation may take the form of three publishable papers or one longer dissertation.

Recent questions students have explored include: the ways in which managers use retail-level marketing actions to influence the timing of consumer purchases in relation to their firms’ fiscal calendars and financial performance as well as those of their competitors; the role of accounting information in strategic human resource decisions; the evolution, consequences and institutional determinants of unregulated financial reporting practices; the effects of adopting rolling forecasts on forecast quality.

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“ I’m constantly inspired to look into new research angles by the brilliant people I run into on campus every day. ”

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M.S. in IT Management vs. MBA: Which Program Should You Choose?

Pursuing a graduate degree in information technology (IT) is a significant investment of time, money and effort. However, it can also help shape your career trajectory and open the door to new and exciting opportunities for advancement.

Two popular advanced degree options that you may choose to pursue are a master's in information technology management (M.S. in IT Management ) and a Master of Business Administration (MBA) .

While both degrees can lead to rewarding careers, they each cater to different interests, goals and career paths. Below, we'll help you determine which program aligns better with your long-term objectives and personal preferences.

Explained: Master's in IT Management vs. MBA

An M.S. in IT Management is a theory-to-practice master's program that combines foundational business and leadership knowledge with IT project management, information security and data management skills.

In contrast, an MBA is a graduate-level degree program designed to prepare you for the managerial responsibilities of businesses across many different areas, such as operations, marketing and human resources.

While an MBA provides a comprehensive understanding of business management, leadership skills and best practices that can help you succeed in high-level roles, an M.S. in IT Management equips you with the technical expertise and managerial skills necessary to lead and oversee the proper use of information technology solutions.

However, it’s worth noting that there is a third program option available if you’re looking to bridge the gap between these two offerings. 

Dr. Alyncia Bowen, dean of Franklin University’s Ross College of Business and executive director of the university’s Leadership Center, encourages prospective students to investigate MBA programs specializing in IT .

"The MBA specializing in IT Management promotes the development of skills in strategic and project management and business analytics as a means of leading organizations,” Bowen says. “This option combines the comprehensive business education of an MBA with a concentrated focus on information technology typically found in an IT master's program.”

What matters most when choosing a master’s program? Compare features, benefits and cost to find the right school for you.

The ideal candidate for a master's in information management vs. master’s in business administration .

A master's in IT management program is ideal for IT professionals looking to advance their careers and assume leadership roles in technology.

The MBA program , on the other hand, is a lucrative option if you're a business professional seeking to assume managerial or executive roles. It's also an excellent choice if you have a business background, are interested in entrepreneurship and leadership or want to broaden your knowledge and skills.

The M.S. in IT Management can provide a pathway for non-technical professionals to enter the technology sector, while the MBA can open doors for those seeking to move into business-related roles.

However, if you want to bridge the difference between these two programs, Dr. Bowen notes that an MBA specializing in IT may be your best bet.

"Those interested in and passionate about business and technology will find the MBA specialization more attractive than the general MBA,” she said. “This is because of the ability to advance in technical careers with strong business knowledge. It also gives individuals the opportunity to advance in either discipline."

Technical Skills: Master's in IT Management vs. MBA Programs  

In M.S. in IT Management programs , you'll gain hands-on experience with various computer systems, tools and methodologies related to information technology. You'll learn to analyze and solve complex computer problems, manage IT projects and implement effective IT solutions within organizations.

These technical skills can be applied in industries such as healthcare, finance, manufacturing and government, where the integration of technology and business processes is essential.

For example, you could utilize your skillset as an M.S. in IT Management graduate to develop and implement a cybersecurity strategy for a hospital, ensuring the protection of sensitive medical data.

While a generalized MBA program may delve less deeply into technical skills (unless you choose to specialize in IT), it does provide opportunities for you to develop proficiency in data analytics, business intelligence and digital marketing. These business skills are valuable across various industries and can be applied in market research, enterprise resource planning, network security, operations management and strategic planning.

For instance, you could leverage your data analysis skills as an information systems manager to identify market trends and consumer behaviors. This would help your organization make informed business decisions and stay competitive in the market.

Which Degree is Better for Cultivating Project Management Skills?

High-level project managerial skills are very valuable in both the business and technology sectors. While both MBA and M.S. in IT Management programs offer management training as part of their curriculums, their approach differs slightly.

In an MBA, you'll learn specifically about project planning, resource allocation, risk management and stakeholder communication.

Dr. Bowen says that these skills can be practically applied across various business functions, such as product development, marketing campaigns and organizational change initiatives.

"The culminating experience gained from this program allows MBA graduates to apply what they've learned across various sectors. This allows you to display project knowledge and management capabilities to current and future employers."

Conversely, a master's in information technology management strongly emphasizes managerial skills within the information technology framework.

Pursuing this educational path will ensure you learn methodologies and best practices specific to IT project management , such as Agile and Scrum, as well as tools and techniques for managing software development projects. This includes IT managerial skills such as system implementations and infrastructure upgrades.

Which is Harder, an M.S. in IT or an MBA?

This is a very subjective experience. What you find difficult, someone else may find easy (and vice-versa). In this way, the perceived difficulty of a graduate program can vary depending on your educational background, experience, interests and strengths.

Admission requirements for MBA programs typically include a bachelor's degree, competitive GMAT or GRE scores, relevant work experience and/or strong academic credentials. Some secondary institutions may also require prerequisite statistics, economics and accounting courses.

Within the MBA program itself, you may find courses in quantitative analysis, finance and economics particularly challenging, especially if you have a non-business background. The program's emphasis on case studies and group projects can also be demanding, requiring strong communication, teamwork and critical thinking skills.

For M.S. in IT Management programs , admission requirements often include a bachelor's degree in a related field (such as computer science, information technology or engineering), relevant work experience and strong academic performance.

The curriculum can be challenging if you have a limited technical background. The most common struggles are with programming, computer engineering, database management and system architecture, and the combination of business and technology concepts can be a steep hill to climb if you still need to become familiar with them.

Are These Graduate Programs Worth It?

Pursuing a graduate degree is a significant investment, both in terms of time and financial resources. As such, it's natural to question whether the benefits outweigh the costs.

In terms of job prospects across all industries over the next 10 years, the Bureau of Labor Statistics projects a moderate increase of 2.8% . 

However, data from Lightcast™ suggests the job market outlook for business administration and information technology professionals is far more promising.

Jobs in business administration and management are expected to increase by 15.8% through 2032, reflecting the ongoing demand for skilled business leaders and managers across various industries.

Similarly, IT-related jobs are expected to grow by 18.5% during that same time frame, driven by the increasing reliance on technology and the need for professionals who can effectively manage and implement technical solutions.

In terms of earning potential, the average salary for MBA graduates can vary significantly depending on factors such as industry, location and years of experience.

However, according to Lightcast™ data, the advertised median annual salary for individuals with an MBA in the United States is around $74,500. For those with an M.S. in IT Management, the average yearly salary is approximately $98,800.

Do What You Love With a Degree from Franklin

Franklin University understands the importance of pursuing your passions and aligning your education with your career aspirations. That's why the university offers flexible and accessible options to help you achieve your goals.

The M.S. in IT Management program at Franklin is designed to equip you with the knowledge and skills necessary to lead and manage technology initiatives within organizations. 

For those seeking a comprehensive business education, Franklin's MBA program provides a well-rounded curriculum that covers essential areas such as finance, marketing, operations and strategic management. With the option to specialize in areas like IT, you can also tailor your degree to align with your specific interests and career goals.

Learn more about our M.S. in IT Management and MBA programs , or apply today to get started!  

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DBA vs PhD in Business Administration: How to Choose Between Two Top-Tier Degrees

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• Date November 16, 2023

Table of Contents

What is a DBA?

What is a PhD in Business Administration?

Comparing dba and phd: a table for clear distinction.

At a certain point in a C-Level Executive or Senior Executive’s career, there is a natural inclination towards wanting to pursue a new challenge or transition into a more measured pace of working such as taking on Consulting roles or becoming a board member. For these individuals, a doctorate degree such as a Doctor of Business Administration (DBA) or a PhD in Business or Management offers the ability to combine both paths; a new personal challenge and the ability to add exemplary academic credentials that bolster a career profile and emerge as an authority in one’s field

This article outlines the differences between a DBA degree and a PhD in Business, to help professionals determine the best business doctorate to study.

The Doctor of Business Administration (DBA) offers professionals an opportunity to take their career to the next level. This distinguished doctoral degree is designed for experienced individuals seeking to expand their practical business knowledge and leadership skills. Through rigorous coursework and research, students develop specialised expertise to apply to complex organisational challenges. 

DBA graduates stand out as innovative leaders, whether pursuing senior corporate roles, government positions, or entrepreneurial ventures. Though challenging, the DBA enables professionals to become field-defining authorities. For experienced executives seeking the highest business education, the DBA offers profound personal and professional rewards.

Key Characteristics of a DBA:

• Focus on Applied Research and Problem-Solving : DBA degrees emphasise the application of research findings to address practical business challenges.
• Development of Advanced Business Skills : DBA candidates gain proficiency in strategic leadership, decision-making, and organisational effectiveness.
• Professional Career Advancement : A DBA can open doors to executive positions, consulting opportunities, and higher earning potential.

The PhD in Business Administration appeals to those with intellectual curiosity and a drive to advance knowledge. This prestigious doctoral degree focuses on developing research, analytical, and writing skills in aspiring academic scholars. Through immersive study, students create original research and insights that push boundaries. The goal is a dissertation that leaves a mark on business thought and practice. Though intensely rigorous, the PhD transforms students into subject experts ready for professorships, pioneering studies, and informing policy. 

Beyond academia, PhD graduates bring innovation to lead research teams and advise organisations. 

For professionals passionate about business scholarship, the PhD provides tools to thrive as an authority in one’s discipline. It’s a long but rewarding road requiring focus and perseverance. For the right individual, a business PhD promises immense personal and intellectual fulfilment.

Key Characteristics of a PhD:

• Emphasis on Theoretical Frameworks and Methodology: PhD candidates develop expertise in developing and applying theoretical frameworks and rigorous research methodologies.
• Contribution to Business Knowledge: PhD degrees focus on original research that contributes to the body of knowledge in business administration.
• Academic Career Opportunities: A PhD prepares individuals for teaching and research positions in business schools and research institutions.

Both a Doctorate in Business Administration (DBA) and a PhD in Business Administration are valuable degrees that can open doors to exciting career opportunities. The decision should be based on your career aspirations, research interests, and desired level of academic involvement. Whichever path you choose, the journey towards a doctoral degree in Business Administration will undoubtedly be intellectually challenging and rewarding.

Interested in learning more about the DBA?

Have a look at the Doctor of Business Administration (DBA) part-time learning degree awarded by our partner university, the University of Northampton (UK). 

🔗 https://www.staffordglobal.org/course/dba-doctor-of-business-administration/

Contact us and speak with a Higher Education Consultant for a consultation:

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Check out our “The Benefits of a Part-Time or Distance Learning DBA” https://www.staffordglobal.org/articles-and-blogs/general-articles-and-blogs/doctor-of-business-administration-benefits/ blog.

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DBA vs. PhD: What’s the Difference?

You’ve tackled your undergraduate business degree, and now you’re feeling ready to take your business education one step further. You might be wondering, “Where do I even begin?” If this sounds like you, you’ve come to the right place. When it comes to upper-level business degrees, there are a wide variety of options. Two popular options are the Doctor of Business Administration, or DBA, and the Doctor of Philosophy, or PhD. Both options can be an excellent fit for students who are eager to dive even deeper into the world of academia. In this article, you’ll get a better understanding of the difference between the two degrees and gain some insight as to which degree program is the best fit for you.

What Is a DBA?

A Doctor of Business Administration, or DBA degree, is considered a “terminal degree.” This designation simply means that the degree is the highest level of education one can receive in the business world. These degrees are centered around business education with a major emphasis on management. DBA programs often entail a research component that focuses on real-life business problems. Throughout their studies, DBA students learn to apply various theories in solving real issues faced by today’s businesses. This degree is primarily geared toward individuals who currently hold a master’s degree in business or another closely related subject.

What Is a PhD?

PhD programs are another excellent choice for those wishing to further their education. This is also considered a “terminal degree,” and it is the highest-level research degree that one can obtain. These programs involve rigorous research and extensive study. While you’re likely interested in a PhD degree in the business field, nearly any subject can provide this research-based degree, from science, to humanities, to everything in between. While DBA programs are typically intended for students who hold a master’s degree, PhD programs welcome students after completing a bachelor’s or master’s degree in a related discipline. They are the ideal choice for anyone who might be interested in carrying out research or teaching in an academic institution.

Coursework and Duration: Comparing the Curriculum

While both DBA programs and PhD programs give students a deep understanding of the theories that drive the world around us, they do so in different ways. In a Doctorate of Business Administration program, you’ll focus exclusively on business and management from a practical lens. Application of theory is a major focus, and coursework often provides students with opportunities to put their knowledge into practice by solving real-world business problems. Alternatively, PhD programs are offered in just about any subject one can imagine. They take a more theoretical approach with their curricula, teaching students to understand the “why” and “how” behind both business problems and their solutions.

The typical timeline of these graduate programs differs as well. Since DBA programs are intended for people who already have both a master’s degree and significant work experience, they tend to take less time to complete. Many DBA programs are offered on a part-time schedule, and students can expect to complete their Doctorate of Business Administration in about two to four years. While PhD programs don’t always require as much experience prior to enrolling, they tend to require more time to complete. These research-intense programs usually follow a full-time course schedule with an average completion time that ranges from three to five years.

Practical Experience vs. Thesis Research

The major difference between a DBA education and a PhD education can be summed up as practical vs. theoretical. Students entering into a DBA program typically come with a master’s degree in hand and multiple years of relevant work experience under their belt. As such, DBA programs are designed to expand upon their students’ wealth of prior knowledge and experience. These programs teach students to understand relevant theories and principles of business management, but more importantly, they teach students to apply those theories and principles. DBA programs equip students to bring their education and experience to the table when solving real-world problems.

While DBA students focus on using existing knowledge to solve problems, students in PhD programs work to add new knowledge to the business world. Instead of researching the application of existing theories and principles, PhD students are expected to work on original research, unearthing and exploring new ideas. Thus, PhD programs take a much more theoretical approach rather than a practical one. To put their newly gained insights on display, PhD candidates are usually required to complete a dissertation. Through these lengthy research projects, students demonstrate their knowledge, expand upon their ideas, and showcase their experience.

Career Outcomes of a DBA vs. a PhD in Business Administration

Following completion of their degree, DBA and PhD graduates typically take two different paths when it comes to employment. Much like an MBA, a Doctor of Business Administration prepares students for jobs in both the private and public sector. DBA candidates often go on to work in senior management roles or consulting. Some even choose to open their own businesses. Their practical, hands-on approach ensures that DBA programs leave their graduates well-equipped for these roles.

On the other hand, PhD candidates typically stick to the world of academia following their graduation. They often find work with universities as professors and can even go on to be program directors. Some graduates may also opt to continue expanding upon their research while they teach, sharing their research methods with the next generation of PhD students.

However, as with any degree, the job you’ll find afterward depends on a number of different factors. Your prior work experience and unique strengths gained from both work and the classroom play a big part in determining where you’ll take your talents. Just like your interests and passions will likely guide your choice between DBA and PhD programs, they’ll also guide your job search. External factors do play a role as well. The current job market will decide what specific jobs are available at one time or another, and demand for your specific skill set can determine how well you fit the profile of those available jobs.

DBA or PhD: Which Is Right for You?

Deciding to further your education with a doctorate degree is a huge decision in and of itself. Having to choose between a Doctor of Business Administration and a Doctor of Philosophy might be an even more challenging decision. Each of these programs is considered a “terminal degree,” offering students the highest level of education possible in the field. They provide candidates with advanced training and preparation for high-ranking roles. Whether you opt for a DBA or a PhD program, you’ll be opening doors to a wide range of career opportunities.

To ensure that you make the right choice between the two degrees, you’ll want to take time to think about your career goals. Consider where you are now as well as what you want your career to look like in 5, 10, even 2o years. Do you hope to hold a title as a C-suite executive of a major corporation, calling the shots and leading the teams around you? Or do you hope to be in the classroom, teaching the next generation of business professionals about both new and existing theories in the business industry?

Be sure to spend some significant time weighing out these options, including any accreditation requirements. Once you feel confident in the goals you’ve set, look for programs that are in alignment with the things that are most important to you. Check out the academic career resources and coursework of each program you’re interested in. Give yourself the time and space to carefully consider each of these factors prior to making a decision.

Final Thoughts

Getting a doctorate degree can be an excellent way to take your career to the next level . No matter whether you opt for a DBA or a PhD, these terminal business degrees can make your application stand out among the rest and open doors to previously unattainable job opportunities. DBA programs are a perfect fit for people looking to grow their base of practical knowledge in the field. They prepare graduates to work in upper-level leadership roles within the business environment, solving real problems that companies face on a day-to-day basis. Alternatively, PhD programs are the ideal choice for anyone with an interest in the principles and theories that guide business decisions and outcomes. These programs equip graduates to take on roles in the world of academia, such as research and teaching.

However, before you take the jump into your DBA or PhD, be sure to take time to thoughtfully consider your decision. Use your career goals as a guide, and take the time to research your options thoroughly. Seek out advice from peers in the field, and learn from the stories of others making an impact in the business world, like one Crummer Executive MBA student who has a strong passion for both business and academia.

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What is the Difference Between a PhD, DBA and Doctorate in Management

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Doctor of Philosophy (PhD)

Doctor of business administration (dba), doctorate in management (dm), dba vs. dm vs. phd in business degrees, comparing dba, dm, and phd programs, career opportunities after dba and dm, career opportunities after phd, how to decide between a phd, dba, and dm program, how does a phd differ from a dba and dm.

Embarking on a journey of advanced education and research often involves choosing a doctoral degree that aligns with your career aspirations and academic interests. In the realm of doctoral studies, several options are available, each designed to foster expertise and scholarship in specific domains. The Doctor of Philosophy, Doctor of Business Administration, and Doctorate in Management stand out as prominent pathways among the choices. 

However, comprehending the nuances and distinctions among these degrees is crucial for individuals considering a doctoral pursuit. This blog will delve into the intricate differences between a PhD, DBA, and DM, helping you decide which path best suits your academic and professional goals. 

The Doctor of Philosophy (PhD) degree is typically recognised as an advanced research-oriented academic credential, where individuals often engage in original research endeavours to expand upon or contribute to existing knowledge. A PhD is primarily viewed as a form of training for a career in higher education, which may encompass teaching, ongoing research pursuits, and scholarly publications.

Upon obtaining a PhD, individuals often aspire to become university professors with a strong focus on research activities. As part of their preparation, PhD students are frequently mentored by experienced, tenured faculty members. The primary objective for PhD students is to advance the research objectives of their university’s specific field of study, faculty, or academic institution. To demonstrate their expertise, PhD candidates must pass competency examinations and complete a dissertation that is subject to approval by a committee of current PhD holders within the same area of specialisation.

Traditional PhD programs typically revolve around a specific research area, such as Management, and are oriented towards disseminating this research for the benefit of future scholars. In many cases, a PhD candidate is a subject matter expert dedicated to exploring a particular and often narrow gap in scholarly knowledge over the course of several years.

A DBA, which stands for Doctor of Business Administration, represents an advanced doctoral degree concentration in the field of business and management. Geared towards individuals already engaged in professional careers, the DBA program is tailor-made for those seeking to elevate their professional trajectory. This program combines a blend of academic coursework, research components, and hands-on practical experience, all aimed at equipping students for leadership roles within various businesses and organisations.

The DBA curriculum covers a wide array of subjects, encompassing areas such as strategic management, organisational behaviour, global business dynamics, and finance. Participants enrolled in this program develop proficiencies in research methodologies, problem-solving techniques, and the art of decision-making, especially within complex and intricate business environments. Typically, the completion of a DBA degree spans a period of three to five years.

The Doctorate in Management (DM) is commonly recognised as a degree program that emphasises applied research in the field of management. Its primary objective is to explore the practical application of management theories and teach students how to utilise practical research methods to identify and address real-world industry challenges.

A DM program is structured to assist individuals in developing strategic thinking abilities and enhancing their capacity to make meaningful contributions to management practices within their chosen career paths. The knowledge gained through a Doctorate in Management degree program is intended to equip students with advanced research skills and tools, enabling them to tackle complex issues prevalent in their respective industries effectively.

Acquiring a terminal degree demands significant investments in terms of both finances and time, underscoring the importance of selecting a program that aligns perfectly with one’s objectives. Initially, individuals considering their options may find it challenging to differentiate between DBAs, DBMs, and PhDs in the field of business. The table below provides a comparative analysis of these degrees to facilitate a clearer understanding.

Earning a Doctor of Business Administration (DBA) degree or Doctorate in Management opens up a multitude of career avenues. These degrees offer versatility and practical training across various aspects of business management, allowing you to explore diverse career opportunities. Here are several rewarding career paths accessible to individuals with a DBA or Doctorate in Management.

1. C-suite (CEO, CFO, COO) 

2. Executive VP

3. Consultant

4. Economist

5. Logistician

6. Professor

7. Entrepreneur

8. Director of Human Resources

9. Government Employee

Pursuing a PhD imparts a wide range of skills to students. It enhances your capacity for critical subject analysis, demonstrates intellectual maturity, fosters deep expertise in a particular field, and enables the publication of a substantiated thesis.

1. Academics

• Faculty Position
• Post Doctorate
• Adjunct Position

2. Government Jobs

3. Entrepreneur

4. Consultancy

5. Digital Media Company

6. Research Associate

7. Product Manager

If you’re embarking on your career journey in management and have a passion for research, the ideal choice would be enrolling in a PhD program. This option is well-suited if you aspire to transition into an academic career.

Conversely, if you aim to ascend the ranks within the managerial hierarchy, you may prefer to pursue a DBA or DM program.

It’s important to note that PhD, DBA, and DM programs all enjoy equal status, recognition, and international acclaim. They are tailored to different objectives. Opt for a PhD in Business Management if you wish to advance the industry through research or educate future business leaders. On the other hand, if your goal is to make a tangible impact on the business world by applying your expertise and skills, a DBA or DM is the route to consider.

If you’re exploring DBA or DM programs, Exeed College offers compelling options in partnership with renowned universities. These online doctorate programs are designed to empower professionals like you to excel in your careers, contribute to management research, and innovate within your organisations. Ultimately, your choice should align with your career aspirations and the impact you want to make in the world of business and management.

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This year, 40 to 60 masters in management graduates are expected to enrol in the new one-year MBA at London Business School , a streamlined version of the flagship programme, which can be completed in 15 to 21 months.

This new, shorter MBA, with tuition to cost £75,000, targets those who graduated three or more years ago, normally with a pre-work experience masters in management (MiM) from an accredited institution.

The one-year LBS MBA was introduced in response to market demand, says Graham Hastie, associate dean of degree education. The MiM, which started out in Europe, has grown in popularity globally, raising questions about its impact on conventional-MBA demand.

Despite targeting different audiences, there has traditionally been little motivation to obtain both degrees, given the overlapping content. Hastie notes that many MiM graduates seek further education, but prefer not to repeat material. “We’re hoping our new product will bridge that gap,” he says. “It’s a stackable product. It gives them a second bite of the cherry.”

Masters in Management Ranking 2024

This story is from the MiM report publishing on September 9

LBS is not alone. Several business schools are creating new ways for MiM graduates to earn an MBA in a streamlined timeframe, reducing the overall time and cost. The trend reflects the growing emphasis on life-long learning — the idea that business education is no longer a one-time pursuit but a continuous process of upskilling and reskilling.

It also reflects the concern that the two-year MBA may have passed its peak. “The MBA market has matured in some world regions, while MiM degrees have seen rapid growth,” says Alfons Sauquet, director of quality services and Equis accreditation at EFMD Global, which accredits schools.

For decades, MiM and MBA programmes have been seen as mutually exclusive, but the trend of combining both is growing. The MiM targets recent graduates with little or no work experience to provide foundational business knowledge. The MBA, established by Harvard Business School in 1908, is aimed at professionals with several years’ experience — often preparing for senior management roles.

This year, alumni from the MiM at Iese Business School in Spain are joining its new MiM-MBA dual masters degree. In this programme, the MiM counts as year one of Iese’s 15-to-19-month MBA, so graduates can go directly into the second year of the MBA, skipping the business fundamentals that would have comprised the first year. To qualify, alumni need to have three years’ professional work experience.

“This move reflects one way we are responding to the changing needs of aspiring and current executives, who are looking for ways to stay updated amid periods of rapid change,” says Paula Amorim, Iese’s MBA admissions director.

Students on the dual-degree programme pay half the standard MBA fees, which are €105,000 for those starting in September 2024, on top of €47,700 for the MiM.

Jakob Gebendorfer is among five of Iese’s MiM graduates who will join the second year of the MBA this month. After graduating in 2021, he spent three years in the consulting industry; he felt returning to business school would build his leadership abilities more quickly than continuing to work.

“I have seen throughout my career that MBA holders usually advance quicker and further,” Gebendorfer says, adding that the option to skip the first year of the degree made his choice “a no-brainer”.

These changes come as the demand for business masters degrees, including MiMs and excluding MBAs, dropped by 3.4 per cent last year. Demand for MBAs fell 4.9 per cent in 2023, following a boom during the Covid pandemic, according to the Graduate Management Admission Council. GMAC’s data shows, however, that full-time MBAs remain the preferred business degree among prospective students, while MiMs rank second.

Starr Marcello, deputy dean for MBA programmes at the University of Chicago Booth School of Business, says gaining a MiM offers students an early entry into the business world, while a subsequent MBA prepares them for leadership roles.

Chicago Booth introduced an accelerated MBA in 2020, allowing graduates of its specialised masters programmes (including the MiM) to put six business courses towards an MBA, completing it in 15 months instead of the usual 21. There is no work experience requirement.

According to business schools, candidates with both degrees can fast-track their career development. Keith Bevans, executive vice-president of global consultant recruiting at Bain & Company, says MiM graduates are relatively rare at the firm, comprising only 5-7 per cent of applicants. Most are hired at an undergraduate entry level, while MBA graduates move into higher positions with larger starting salaries.

Students may take a MiM as a first step towards a future MBA. It’s no longer an either/or decision Joy Jones, GMAC chief executive

But Bevans reckons that having both qualifications would signal a strong commitment to a business career and enhance a job candidate’s credibility. “I think it is a positive development, as it gives us a deeper, richer pool of talent to choose from.”

Ayushi Saxena, who earned her MiM in 2021 from Duke University’s Fuqua School of Business , then enrolled on the school’s accelerated MBA, graduating in 2022. The programme enables MiM alumni to skip the business fundamentals and go straight into MBA electives — specialised courses — and hands-on projects, graduating in just 10 months. 

“The MBA opened doors to more senior roles and increased responsibilities,” says Saxena, currently a senior project manager based in San Francisco at Schneider Electric, the French software and automation company.

GMAC chief executive Joy Jones expects more MiM alumni to make the same move. “With these types of programmes becoming more popular, we might see more business-school aspirants being more confident about taking a MiM as a first step [towards] and an investment in a future MBA,” she says. “It’s no longer an either/or decision.”

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