Is it Possible to Get My PhD After My MBA?

MBA graduate contemplating PhD degree

In academia, numerous accomplishments can be achieved. You can earn a dual degree and have expertise in multiple fields, or further your career potential by going back to school . But what about progressing from an MBA to a PhD? 

In regards to higher education, many consider earning a PhD, or doctorate degree, the pinnacle of success. Usually, due to passion for a particular industry or subject, a PhD candidate will spend years of rigorous research to unpack its intricacies and become a leading expert in the field.  At the end of their studies, they are able to finally see their work come to fruition when they receive their doctorate and join alongside other scholars. However, is it typical for an MBA graduate to move onto pursuing their PhD? And is there a specific purpose? Are there different types of PhD programs? What is the difference between a PhD and DBA?

To answer the budding question: yes, you can pursue your PhD after earning your MBA, and choosing to earn a doctorate is entirely up to you and your aspirations. To help you better understand if getting a PhD is the right choice, we look at the path an MBA graduate can take to earn their PhD, one of the higher purposes of a doctorate, and the different types of academic programs. 

What is a PhD, and What is it Used For? 

By definition, a PhD is a Doctor of Philosophy in a particular discipline, which is why it's also referred to as a doctorate. This focus is typically for individuals highly passionate about a specific subject matter, driven by the pursuit to understand it better through rigorous research. A majority of students seeking their PhD are eager researchers, although there are always exceptions, and each carries out years of highly intensive research to conclude their original thesis and earn their doctorate. 

In terms of translating your education into a career, a doctorate can be used in a plethora of fields, especially if one’s thesis is around a wider subject matter and can be a discipline applied to various industries (take organizational development, for example). For those who are passionate about a career in research, a doctoral degree is a perfect fit. Possibly the most popular field for those with a doctorate is a fruitful career in academia, teaching their subject matter to others interested in the same area. Many graduates become faculty members at business schools upon completing their PhD and provide their expertise to their students. Regardless of which industry you choose, you can be assured that a PhD will provide you with numerous opportunities. 

How Long Does it Take to Progress from an MBA to PhD?

The timeframe for earning your PhD can vary depending on program and location. Many countries have varying timelines of how long the completion of a doctoral program will take. In the United States, the average is around 4-5 years of completion after receiving your Master of Business Administration. 

Do You Need an MBA to Get a PhD?

To be accepted into a doctoral program, you must have a master’s degree. It does not have to be a Master of Business Administration, but it does need to be a master’s of some form. Depending on your area of specialization, it could be advantageous to earn your MBA in pursuit of a PhD if you are planning to embark on a career in business upon completion of your doctorate. Additionally, one important aspect to consider is the program itself. It is important to look into a program’s requirements before applying to meet the eligibility criteria. 

The Difference Between a DBA and a PhD 

For those specifically interested in a career in business, a Doctor of Business Administration (DBA) is a highly beneficial doctoral program. A DBA focuses on a broader spectrum of business disciplines, dedicating research toward multiple corporate facets, and practical implementation. On the contrary, a PhD narrows into a specific area of discipline and research, emphasizing theory, and it’s potential implications. While both are heavily centered around research and implementation, a DBA sets business executives and leaders on a path to discover new possibilities for their organizations and businesses. In a way, it allows established business professionals to “trailblaze” the way for new and innovative ideas that can disrupt the market and set a precedent for the future of business.

Get Your MBA or DBA at Pepperdine Graziadio Business School

At Pepperdine Graziadio, we proudly offer degrees to accommodate business professionals at any stage of their lives and careers. Our full and part-time MBA programs are designed to prepare candidates for a successful career in values-based business leadership. All of our MBA programs offer a personalized learning approach executed by our world-class faculty. Each program is characterized by its top-ranked business curriculum that can be coupled with an academic concentration. 

Our Executive Doctor of Business Administration (DBA) program has been carefully designed for the tenured business leader looking to drive groundbreaking innovations. This rigorous program allows candidates to gain in-depth knowledge and finetune their expertise through applied research. Also, executives enjoy learning alongside changemakers in various industries and participating in exclusive opportunities available only to DBA candidates.

Learn more about which programs fit your career aspirations and academic interests.

Learn more about how to achieve your career goals with a degree from Pepperdine Graziadio Business School.

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PhD Programs

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Students in our PhD programs are encouraged from day one to think of this experience as their first job in business academia—a training ground for a challenging and rewarding career generating rigorous, relevant research that influences practice.

Our doctoral students work with faculty and access resources throughout HBS and Harvard University. The PhD program curriculum requires coursework at HBS and other Harvard discipline departments, and with HBS and Harvard faculty on advisory committees. Faculty throughout Harvard guide the programs through their participation on advisory committees.

How do I know which program is right for me?

There are many paths, but we are one HBS. Our PhD students draw on diverse personal and professional backgrounds to pursue an ever-expanding range of research topics. Explore more here about each program’s requirements & curriculum, read student profiles for each discipline as well as student research , and placement information.

The PhD in Business Administration grounds students in the disciplinary theories and research methods that form the foundation of an academic career. Jointly administered by HBS and GSAS, the program has five areas of study: Accounting and Management , Management , Marketing , Strategy , and Technology and Operations Management . All areas of study involve roughly two years of coursework culminating in a field exam. The remaining years of the program are spent conducting independent research, working on co-authored publications, and writing the dissertation. Students join these programs from a wide range of backgrounds, from consulting to engineering. Many applicants possess liberal arts degrees, as there is not a requirement to possess a business degree before joining the program

The PhD in Business Economics provides students the opportunity to study in both Harvard’s world-class Economics Department and Harvard Business School. Throughout the program, coursework includes exploration of microeconomic theory, macroeconomic theory, probability and statistics, and econometrics. While some students join the Business Economics program directly from undergraduate or masters programs, others have worked in economic consulting firms or as research assistants at universities or intergovernmental organizations.

The PhD program in Health Policy (Management) is rooted in data-driven research on the managerial, operational, and strategic issues facing a wide range of organizations. Coursework includes the study of microeconomic theory, management, research methods, and statistics. The backgrounds of students in this program are quite varied, with some coming from public health or the healthcare industry, while others arrive at the program with a background in disciplinary research

The PhD program in Organizational Behavior offers two tracks: either a micro or macro approach. In the micro track, students focus on the study of interpersonal relationships within organizations and the effects that groups have on individuals. Students in the macro track use sociological methods to examine organizations, groups, and markets as a whole, including topics such as the influence of individuals on organizational change, or the relationship between social missions and financial objectives. Jointly administered by HBS and GSAS, the program includes core disciplinary training in sociology or psychology, as well as additional coursework in organizational behavior.

Accounting & Management  

Business economics  , health policy (management)  , management  , marketing  , organizational behavior  , strategy  , technology & operations management  .

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The 10 Best PhD Programs in Finance

Lisa Marlin

In essence, finance is the study of economics and the claims on resources. The best PhD programs in finance help you develop professionally so you can make difficult decisions around fund allocation, financial planning, and corporate financial management. This qualification will also equip you for a career in teaching or research at top universities.

Which of the 10 best finance PhDs is best for you?

Read on to learn everything you need to know.

Table of Contents

Why Get a Doctorate in Finance?

According to the Bureau of Labor Statistics (BLS), finance managerial professionals have an average salary of $131,710  per year, and jobs are estimated to grow by 17%  from 2020 to 2030. This is much more than the average across all occupations. With a PhD in finance, you may work as a finance manager or even become a CEO of a large corporation.

Jobs and Salaries for Doctors of Finance

After earning a PhD in finance, you can find well-paid jobs as a professor or in various corporate finance roles.

Here are some of the most common finance professions with the average annual salaries for each:

  • Financial Manager ( $96,255 )
  • Financial Analyst ( $63,295 )
  • Finance Professor ( $73,776 )
  • Chief Financial Officer ( $140,694 )
  • Investment Analyst ( $67,730 )

Read More:   The Highest Paying PhD Programs

What’s the average cost of a phd program in finance.

The tuition for a PhD in finance can vary depending on the university, with public institutions generally being much more affordable than private ones.

Across all schools, the average tuition is around $30,000 per year.

However, on top of this, you need to factor in other expenses, which could add up to another $30,000 a year. Some top universities offer full funding, including tuition and a stipend for all students who are successfully admitted to the program.

Read Next: The Average Cost of a Master’s Degree in Finance

Top finance phd programs and schools, stanford university, graduate school of business.

PhD in Finance

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Stanford University is one of the most prestigious business schools in the world. Its PhD in finance programs has an emphasis on theoretical modeling and empirical testing of financial and economic principles.

  • Courses include: Financial markets, empirical asset pricing, macroeconomics, and financial markets.
  • Duration: 5 years
  • Tuition : Full funding
  • Financial aid: Research & teaching assistantship, grants, outside employment, and outside support.
  • Delivery: On-campus
  • Acceptance rate: 5%
  • Location: Stanford, California

The University of Pennsylvania, The Wharton School

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The University of Pennsylvania’s renowned Wharton School of Business is home to faculty who are well-known in the field of business research. The school boasts a low student-faculty ratio in an atmosphere that allows you to work with faculty members as peers. This doctor of finance program emphasizes subjects like asset pricing, corporate finance, and portfolio management. This helps students become experts in research and teaching in these areas.

  • Courses include: Topics in asset pricing, financial economics, and international finance.
  • Credits: 18 courses
  • Financial aid: Fellowships, grants, student employment, health insurance, stipend, and loans.
  • Acceptance rate: 9%
  • Location: Philadelphia, Pennsylvania

The University of Chicago, Booth School of Business

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Booth School of Business is a major center for finance education because its faculty includes Eugene F. Fama, Nobel laureate and the father of modern empirical finance. This finance doctoral degree has an option for a joint PhD in collaboration with the university’s economics department.

  • Courses: Financial economics, financial markets in the macroeconomy, and behavioral finance.
  • Tuition : Refer tuition page
  • Financial aid: Grants, stipends, health insurance, scholarships, fellowships, teaching assistantships, research assistantships, and loans.
  • Acceptance rate: 7%
  • Location: Chicago, Illinois

The University of Illinois at Urbana-Champaign, Gies College of Business

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The University of Illinois at Urbana Champaign is one of the best places for studying and conducting research in finance. Its finance research faculty was ranked #4  in the UTD Top 100 Business School Research Rankings between 2016-2019. In this PhD in finance program, students can take the qualifying examination at the end of the first year and, if successful. They’ll be able to start their research project earlier and complete the degree sooner.

  • Courses include: Empirical analysis in finance, corporate finance, and statistics & probability.
  • Duration: 4-5 years
  • Financial aid: Full tuition waiver, stipends, scholarships, grants, student employment, and loans.
  • Acceptance rate: 63%
  • Location: Champaign, Illinois

Massachusetts Institute of Technology, Sloan School of Management

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The Sloan School is one of the top research centers in the world, which aims to transform students into experts who can handle real-world problems in a wide range of spheres, from business and healthcare to climate change. This PhD program in finance gives students the flexibility to choose between a wide range of electives and even study some courses at Harvard.

  • Courses include: Current research in financial economics, statistics/applied econometrics, and corporate finance.
  • Duration: 6 years
  • Financial aid: Full tuition, stipend, teaching assistantships, research assistantships, health insurance, fellowships, scholarships, and loans.
  • Location: Cambridge, Massachusetts

Northwestern University, Kellogg School of Management

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The Kellogg School of Management allows students to conduct independent research under the supervision of faculty who’ve made significant contributions to the field and have earned numerous prestigious awards. This doctorate of finance program’s admission process has a dual application option. You can also apply to the Economics PhD simultaneously, so if you are not selected for the finance program, you may be considered for economics.

  • Courses include: Econometrics, corporate finance, and asset pricing.
  • Duration: 5.5 years
  • Financial aid: Tuition scholarship, stipends, health insurance, moving allowance, and subsidies.
  • Location: Evanston, Illinois

The University of California Berkeley, Haas School of Business

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The Haas School of Business in Berkeley is an innovative institution that questions the status quo, takes intelligent risks, and accepts sensible failures in its path to progress. This finance PhD program offers students opportunities to learn about cutting-edge research from faculty from around the world.

  • Courses include: Corporate finance theory, stochastic calculus, and applications of psychology & economics.
  • Tuition : Refer cost page
  • Financial aid: Fellowships, grants, tuition allowance, stipends, teaching assistantships, and research assistantships.
  • Acceptance rate: 17%
  • Location: Berkeley, California

The University of Texas at San Antonio, Alvarez College of Business

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The Alvarez College of Business is one of the forty largest business schools in the USA. It follows a comprehensive and practical approach to education that allows students to apply the knowledge they gain directly in the workplace. This PhD in finance encourages students to do collaborative research with the faculty, which helps them publish their own academic papers before they even complete the program.

  • Courses include: Corporate finance, international financial markets, and microeconomic theory.
  • Credits: 84 (post-bachelors)
  • Financial aid: Scholarships, grants, work-study, teaching assistantships, research assistantships, research fellowships, and loans.
  • Acceptance rate: 84%
  • Location: San Antonio, Texas

Liberty University, School of Business

Doctor of Business Administration (DBA) in Finance

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Liberty University is a non-profit institution among the top five online schools in the USA and has been offering fixed tuition fees for the past seven years. This is one of the best PhD in Finance programs you can do completely online. It aims to prepare students to address issues in business finance through research, best practices, and relevant literature.

  • Courses: Managerial Finance, Investments & Derivatives, Business Valuation, etc.
  • Credits: 60
  • Duration: 3 years average
  • Tuition : $595 per credit
  • Financial aid: Grants, scholarships, work-study, veteran benefits, and loans.
  • Delivery: Online
  • Acceptance rate: 50%
  • Location: Lynchburg, Virginia

Northcentral University

PhD in Business Administration (PhD-BA) – Finance Management

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Northcentral University was founded with the objective of offering flexible, fully-online programs to working professionals around the world. This doctorate degree in finance online is flexible and allows you to design your own schedule. You will also get one-on-one personal mentoring from qualified faculty.

  • Courses include: Business financial systems, business statistics, and business leadership & strategy.
  • Duration: 84 months average
  • Tuition: $1,105 per credit
  • Financial aid: Grants, scholarships, and military scholarships.
  • Acceptance rate: NA
  • Location: Scottsdale, Arizona

Things To Consider When Choosing a Finance PhD Program

The right PhD program for you is a very personal decision and will depend on several individual factors.

However, these general questions will help you to make the right choice:

  • Is the university properly accredited?
  • Does the university conduct innovative and cutting-edge research?
  • Are there renowned faculty members who you’ll want to work with?
  • Do they offer subjects or specializations that match your career goals?
  • What is the school’s placement history?
  • What are the tuition fees, costs, and options for scholarships and financial aid?
  • Does the program offer online study options?

It’s also important to consider if you want to pursue a career in academia or work in organizations as a senior finance professional. A PhD degree will generally set you up for a career in research or academia, while a DBA is more suited to a career in business or government.

Preparing for a Finance Doctorate Program

It’s important to start preparing early if you want to be selected for one of the best finance PhD programs.

These handy tips can help you put your best foot forward:

  • Research the requirements of the best universities offering PhD in finance degrees, including pre-requisite subjects and qualifying grades. Keep these in mind when completing your bachelor’s or master’s degree.
  • Understand your strengths and weaknesses in relation to the program’s requirements. Work on your weaknesses and continue to hone relevant skills.
  • Read extensively in the field and keep up-to-date on regional and global developments.
  • Join communities of finance professionals to build your network and be exposed to the latest knowledge in the discipline.

Skills You Gain from Earning a PhD in Finance

The most important skills you learn as a doctor of finance include:

  • Communication skills, including writing and presentation skills
  • Data analytical skills
  • Economics and accounting skills
  • Critical thinking skills
  • Mathematical skills
  • Analytical software skills
  • Management and leadership skills
  • Problem-solving skills

PhD Programs in Finance FAQs

How long does a phd in finance take.

PhD programs in finance usually take between three and eight years to complete.

Is It Worth Getting a PhD in Finance?

A PhD in Finance is a qualification that’s in high demand today. It is a terminal degree and can help you get top-level jobs with lucrative salaries in corporate or large organizations.

How Much Can You Make With a PhD in Finance?

With a finance doctorate, you can expect to earn a salary anywhere from around $45,000 to $150,000, depending on your experience, role, and the organization you work for. According to the BLS, the average salary for finance PhD holders is $131,710 .

What Do You Need To Get a PhD in Finance?

The admissions requirements vary depending on the program, but you’ll typically need a bachelor’s or master’s degree in finance. The programs can take three to eight years of coursework and research.

To apply, you’ll usually need to submit:

  • Application
  • Academic resume
  • Academic transcripts
  • Recommendation letters
  • GRE or GMAT score
  • Personal essay

Final Thoughts

With a doctorate in finance, you can build a rewarding career in academia, research, or the business sector. Like any doctorate, these programs ask for dedication and hard work. By planning early, you’ll set yourself up to pursue one of the best PhD programs in finance.

For more on how to build your career in the field, take a look at our guides to the best master’s degree in finance , the highest paying PhDs , and fully-funded PhD programs .

Lisa Marlin

Lisa Marlin

Lisa is a full-time writer specializing in career advice, further education, and personal development. She works from all over the world, and when not writing you'll find her hiking, practicing yoga, or enjoying a glass of Malbec.

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The field of finance covers the economics of claims on resources. Financial economists study the valuation of these claims, the markets in which they are traded, and their use by individuals, corporations, and the society at large.

At Stanford GSB, finance faculty and doctoral students study a wide spectrum of financial topics, including the pricing and valuation of assets, the behavior of financial markets, and the structure and financial decision-making of firms and financial intermediaries.

Investigation of issues arising in these areas is pursued both through the development of theoretical models and through the empirical testing of those models. The PhD Program is designed to give students a good understanding of the methods used in theoretical modeling and empirical testing.

Preparation and Qualifications

All students are required to have, or to obtain during their first year, mathematical skills at the level of one year of calculus and one course each in linear algebra and matrix theory, theory of probability, and statistical inference.

Students are expected to have familiarity with programming and data analysis using tools and software such as MATLAB, Stata, R, Python, or Julia, or to correct any deficiencies before enrolling at Stanford.

The PhD program in finance involves a great deal of very hard work, and there is keen competition for admission. For both these reasons, the faculty is selective in offering admission. Prospective applicants must have an aptitude for quantitative work and be at ease in handling formal models. A strong background in economics and college-level mathematics is desirable.

It is particularly important to realize that a PhD in finance is not a higher-level MBA, but an advanced, academically oriented degree in financial economics, with a reflective and analytical, rather than operational, viewpoint.

Faculty in Finance

Anat r. admati, juliane begenau, jonathan b. berk, greg buchak, antonio coppola, peter m. demarzo, darrell duffie, steven grenadier, benjamin hébert, arvind krishnamurthy, hanno lustig, matteo maggiori, paul pfleiderer, joshua d. rauh, claudia robles-garcia, ilya a. strebulaev, vikrant vig, jeffrey zwiebel, emeriti faculty, robert l. joss, george g.c. parker, myron s. scholes, william f. sharpe, kenneth j. singleton, james c. van horne, recent publications in finance, financial inclusion, economic development, and inequality: evidence from brazil, dissecting mechanisms of financial crises: intermediation and sentiment, financial innovation in the 21st century: evidence from u.s. patents, recent insights by stanford business, why the “venture mindset” is not just for tech investors, how to: reject pitches like a venture capitalist, when the export-import bank closed up, u.s. companies saw global sales plummet.

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Useful Stuff To Help You Get Better.

Can You Do a PHD After an MBA? Pros and Cons.

As an MBA graduate, I considered whether to obtain a more specialized degree or go for any job in the very tough job market. I thought about Ph.D. too. Here I lay out my thoughts based on experience and research I made for myself on this topic. 

You can do a Ph.D. after MBA, but it is unnecessary for a solid career in business. Ph.D. after MBA may provide a valuable leverage tool for your scientific job if you want to go deeper into any field of science, including technical or social science.

In most instances, you obtaining a Ph.D. after MBA does not make sense. But in a few cases, Ph.D. after MBA may offer new opportunities. Let us analyze below when receiving a Ph.D. after MBA may make sense at all.

Is MBA higher than a Ph.D.?

MBA is a master’s degree, while a Ph.D. is a doctorate. Ph.D. is a higher degree than MBA. Therefore, some MBA students or graduates may decide to take their education to the next level and go into a Ph.D. program. 

Does a Ph.D. guarantee a job?

Here are the negatives if you do Ph.D. after MBA. Having MBA and Ph.D. alone will not necessarily make you more employable. It may limit your employment options to a narrow field. Choose carefully. And being a Ph.D. means that you will be overqualified for most starting positions in the industry (with a caveat, read below). 

Secondly, MBA and then Ph.D. on your CV may raise many flags if you decide to change your career or industry in the future. The sooner you want to change your career, the worse it will look. The question would be: “you did your MBA, then you did your Ph.D. after an MBA…do you know what you are doing?”

A ph.D. is not necessarily helpful for a career. Some people go for Ph.D. because they want to become professors teaching classes in universities. But professor jobs are scarce, and with lower college enrolments, it is becoming increasingly hard to find a teaching job. In short:  YOU WILL NOT FIND A TENURED PROFESSOR JOB AFTER Ph.D. ANYMORE . Hopefully, I made that clear enough. 

On the other hand, PhDs may be valued by different exiting or emerging educational institutions, including those private ones, providing online programs or courses. 

In my humble opinion Ph.D. often should be pursued in the area in which you have a strong urge and desire to work for the next couple of decades doing research. 

Because getting a Ph.D. is quite a pain, it takes years, and you will be grossly underpaid while doing it. I would also look at the demand for specialists in the respective field of your Ph.D. 

Getting into a top Ph.D. university program is challenging. Often, they require terminal degrees like MSC, MA, MS rather than MBA. Therefore, instead of Ph.D. MBA graduates may go for a DBA and still get into corporate world management after that. 

Still, PhDs can get a job in the industry because they have a solid reputation as research and analysts.  

I suggest that if you decide to pursue Ph.D., make sure that your field of research is congruent with your previous MBA degree, other education, work, or relevant experience valuable to a potential employer. Congruency will bind everything together nicely, total leverage. 

But read on to find out which Ph.D. I think it may be helpful in your career. Please do not take my word for it, as I believe the global economy is changing rapidly. Yet, I see some strong trends that are likely to continue for decades ahead, presenting some viable Ph.D. career options. 

Note that academia is saturated, and even PhDs have a hard time finding academic jobs. Said that Ph.D. could take even a master’s level position or other senior position in the industry if his or her Ph.D. area is a good match.

If you decide to obtain Ph.D. after MBA, then I suggest choosing a topic that can have practical application in the industry for better transition and good pay. 

There are many practical fields for Ph.D. after MBA. 

Which Ph.D. after an MBA may be a good option?

Ph.D. is a heavily research-oriented degree. By researching, a Ph.D. student divulges very deep into the narrow topic, like in a rabbit hole, and becomes a super-expert in that topic. 

Thus, selecting a Ph.D. topic for future employment is a significant decision for an MBA student. Because you already have spent 2-4 years getting an MBA degree. Now, what will 5-6 years of Ph.D. give you at this point?

I think Ph.D. is an excellent choice for those MBA’s who want to go into science. Ph.D. makes a person quite employable in science, especially if that science field is related to MBA or previous work or educational experience. 

Note, when I say science, in addition to natural sciences, I also mean new types of science. That includes fields like data science, or AI or machine learning, social science. 

If you check any major job site, it will tell you a complete story about whether it makes sense to get your Ph.D. after MBA. For example, MBA in finance, economics, or statistics from a reputable business school plus a Ph.D. in finance, economics, statistics, or mathematics may help you find an exciting position in one of the major league financial institutions, hedge funds, or banks. Why? Because these fields are practical rather than purely theoretical.

Ph.D. after MBA Specific Examples

If you are keen on coding and have some programming or engineering background, and as an MBA, you want to switch into a niche of machine learning or AI in business industries, you may get your Ph.D. in AI or machine learning. That still can get you hired in the financial sector if you want because the financial sector uses AI and machine learning a lot these days. 

MBA in finance, economics, or accounting, coupled with a Ph.D. in AI or machine learning, may present you as a valuable candidate in the modern digital high-tech world of finance and the business field generally. 

Recruiters are pretty mechanical sometimes. They see MBA on top of the relevant work experience and assume you can potentially hold a managerial position far from the truth.

Note that you will need a programming work background and a Ph.D. in those tech areas if you want to go this route. But salaries can be pretty lucrative – in hundreds of thousands of dollars per year. 

If you type “Ph.D.” and “MBA” in a search field on any major job search engine (site), you will see that some positions show a preference for someone with an MBA and Ph.D. in some analytical or quantitative field. 

You will see demand in some quite exotic narrow fields like revenue science or equity research, social science. Often positions require natural science or programming-related Ph.D., but there is a fair share of those require Ph.D. in either quantitative or business topics. Hence, let us see which type of Ph.D. is better for MBA students. 

Does it help to obtain a business-related Ph.D. after MBA?

Obtaining a business-related Ph.D. after an MBA may provide some value for those who want to go deeper into research or teaching in the business area. For example, a Ph.D. in organizational behavior management may help you land a job in fields anywhere from social science to HR. 

MBA + Ph.D. in economics or finance with quantitative aspect may land you an analytical or lead job in a significant financial institution or international organization. But note that PhDs in economics and finance maybe a little bit saturated in the job market. 

Actuarial sciences or accounting fields also hire PhDs. Check your local job search engine for details. 

I have heard that Ph.D. in accounting is a relatively undersaturated area, and companies are happy to hire accounting PhDs with accounting work experience. Underlying MBA in such a case may be an excellent background addition to a resume showing managerial ability. 

I have also heard about companies hiring PhDs in Global Leadership and Change, for example. I am not sure what their practical managerial work background was, but it must have been extended for such a position. Ph.D. was likely just significant leverage on his or her CV. 

Other areas of potential employment and thus Ph.D. research topics can include business development, business strategy, strategy management, competitive intelligence, and more. 

If you have read some of my other blog posts related to business education, you probably noticed that I am a proponent of practical, specific, education which gives specific tangible skills. 

That is why I am a proponent of going deeper into quantitative areas of education. Quantitative are very transferrable skills. Smart, introverted people with quantitative skills may have a better shot at a fascinating, well-paying analytical job.

Other avenues for MBA and Ph.D. holders

For example, have you heard of such an exotic path as quantitative marketing? Now you did. Marketing analytics can involve quite a bit of calculation and data mining. Ph.D. in quantitative marketing after MBA can land you a job in a financial, economics, or marketing type of position, just because of the quantitative aspect of that type of Ph.D. 

Note that many quantitative Ph.D. programs in reputable institutions require quantitative background or education. For example, Ph.D. in finance may require a background MBA in finance, economics, or mathematics.

Did you know that social science is considered a STEM area? I found at least one position requiring a Ph.D. in social science with MBA.

The most important note is that you must LOVE the subject or broad field of your Ph.D. Otherwise, it does not make sense to pursue one because you will drop out anyway. 

One major caveat for obtaining a Ph.D. after MBA is that employers quite often also want multi-year practical work experience in a related area. Therefore, seeking valuable work experience is a better strategy than obtaining a Ph.D. after MBA. But everything has its exceptions, especially for quantitative types of jobs.  

Here is an excellent video by the Ph.D. professor about the pros and cons of doing a Ph.D. after an MBA.

How long to get a Ph.D. after an MBA?

On average, Ph.D. after an MBA takes 4-5 years to complete. 

Conclusion.

If you want to obtain Ph.D. after MBA, then you need to think it through. I mean, you must be a thinker and researcher at this point. Check job sites, talk to your professors, other students. See what they say about potential opportunities for MBA/PhDs. 

Would I do it? Probably not. Unless it would be a heavily quantitative area with potential practical industry application in finance or technology, if anything, I would instead go for a specialized MS in the subject area related to MBA or technology. 

But that is only my 5 cents. Your goals may be different. 

Some sources .

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PhD after MBA

Education is a five-course meal with PhD as the ultimate dessert at the end of it all. Having said that, not all fields of study have had a long history of crowning a doctorate degree. It has traditionally been the highest degree in the sciences, and social sciences.

Somewhere in the middle of the previous century, though, business schools began to switch their focus from a purely vocational bend towards research oriented training, leading to what we now know as PhD in business, or management.

However, if you were to compare the share of Management PhDs in the US, for instance, with PhDs from other fields, the number is far from stellar, though marginally growing with each year. The picture below summarizes the rising number of Business Doctorate recipients between the years 1986 – 2016, as per NSF.gov . The corresponding percentages reflect the share of doctorate holders with respect to the total number of doctoral graduates. (Updated table from 2021 is available here )

For instance, in 2016, 22.9% of the total 54,904 doctoral recipients graduated with a PhD in Life Sciences, while Business Management PhDs accounted for only 2.8% of the entire body of Dr. XYZs graduating that year. In 2021, this percentage for Business Management majors was 1.3% and for Life Sciences was 22.6%.

So, clearly, this is a road less traveled as compared to your streamlined PhD, after MS, route.

PhD after MBA

The natural question, that follows, is what eludes PhD, in Business, from your everyday household fame?One of the possible reasons being that most business degrees have a lot more commercial capacity as compared to an academic one. Individuals who have an aptitude for business and have secured an MBA from any of the top few tiers of B-schools, generally follow the blazing path of success marked by their predecessors.

The most cited reason, for avoiding the path of business research is the ROI for the years invested, and the cost of opportunity lost while pursuing a semi-decade long journey towards the degree.

With the MBA degree taking a couple of years with average starting salaries north of $90,000, it is not a shocker to realize why some people would rather continue gaining work experience, and the fat paychecks, sans the PhD and its associated delayed gratification, if any (read Average MBA Starting Salary ).

That being the obvious reason, there is clearly another significant factor keeping most business graduates away from a doctoral path – research is not their calling.

This brings us to the next question.  

Why PhD after MBA?

What makes a PhD after MBA an attractive option? The thrill of research. The PhD program offers an opportunity to conduct independent study, scholarly research, and obtain an in-depth knowledge of a specialized field, which would be otherwise only superficially available to the more practical, commercially useful MBA degree.

The research training provides an awareness of the cutting-edge developments and the ability to evolve new insights at solving business problems. Doctoral graduates have years of experience in data analysis and data driven decision making, they are practiced with various research methodologies such as modeling, experimental methods, econometrics, field studies, and more.

As long as the individual has an aptitude for research, the real-world experiences of an MBA degree can motivate him to study relevant business problems.

The most common career path, offered after a PhD post MBA, is teaching. Faculties involved in active research, being an attractive indicator of b-school excellence, prompts a lot of well-known MBA, or other business programs, to hire PhDs as b-school professors.

QS Business School Rankings, for instance, takes in academic reputation and research paper citations into consideration for overall ranking. So does Financial Times MBA, EMBA and Online MBA Rankings. UT Dallas has a business school ranking list based solely on publication statistics in 24 leading business research journals.

Clearly, there is a competitive advantage afforded to PhD job applicants compared to MBAs, when it comes to protecting the interests of business schools. Success, in teaching and research, can lead to some very lucrative compensations.

Salaries, for some of the top b-school faculties, can be in the millions. (Read How much do top business school professors get paid? )

Other golden opportunities may even lead MBA+PhDs into consulting work in either well-known firms, or their own entrepreneurial ventures. PhDs derive wisdom from their theoretical, and uniquely devised methodologies for analysis, which when combined with the experiential training obtained during MBA, makes for a tremendous body of knowledge.

Hedge Funds are extremely selective about their recruits. While a lot of hedge funds believe in practical expertise more than academic experience, they are still known to hire PhDs to fill their analyst positions. Besides CFAs, MBAs, and other Master’s candidates, nearly 3% of hedge fund employees have a PhD.  

What kind of specializations are available to PhDs in Business?

PhD in Business Management, or its close kin Doctor in Business Administration (Harvard HBS), follows a variety of areas of study, often in collaboration with other departments. Some of those specializations are listed below (gathered from various b-school curricula, viz. Stanford GSB , Wharton , HBS ).

  • Accounting: Research focuses on solving issues, related to accounting, using economics, decision theory, and statistical inference.
  • Business Economics: This specialization combines economic analysis with business. The areas of focus may range from Behavioral Economics, Development Economics, Urban Economics, Risk Management, Economic Analysis & Policy, Organizations & Markets, Corporate Governance, and more.
  • Finance: Research focus, such as in Wharton, is set on Asset Pricing, and Portfolio Management, Corporate Finance, International Finance, Macroeconomics, etc.
  • Marketing: Research focus lies on solving marketing management issues faced by companies. Areas of study usually involve behavioral decision making, economics, industrial organization, statistics, management science, and more.
  • Operations, Information & Technology: This area of research, such as in Stanford GSB, studies management of systems, processes, and networks. They include health care systems, product design, manufacturing, information systems, decision-making, operations management, etc.
  • Organizational Behavior: Research on concepts of psychology and sociology and their impact on behavior within complex organizations.
  • Management: The specialization deals with management and leadership challenges.
  • Strategy: Research studies the heart of what sustains and develops industries with competitive advantage.

The above list is not exhaustive and every b-school tailor their research target to set their competitive edge, so to speak. The other common specializations include, Ethics & Legal Studies, Health Care Management, Applied Economics, Decision Sciences, Human Resource Management, and more.  

Employment Options of Business PhD Graduates

While a majority of doctoral graduates find positions as faculties in reputable business schools, a fraction of them carry on in post-doctoral studies or head towards industry positions. Firms like McKinsey, Morgan Stanley, SEC, and more, are known to hire PhDs regularly.

Nearly 80% of graduating doctoral students are employed as faculty members in various business schools over the world, with the rest 20% employed in various industry positions. We have compiled the following table to reflect the employers of past PhD candidates from reputed business schools, mainly Wharton, HEC Paris, and Chicago Booth.  

Business School with Popular Research Programs

UT Dallas’ Naveen Jindal School of Management has created a business school ranking based on publications in 24 leading business journals, mentioned here . Some of the top research schools, assessed between 2012-2016, based on the ranking, are listed below.  

  The two related degrees of a Business PhD, in addition to an MBA, provide a set of well-rounded skills that are quite unique. These skills are not just desirable in mentors of the future business leaders, but also play a significant rolein gaining a thorough insight of the world of business management.

Recommended reading for the curious reader:

  • PhD in Management Abroad
  • Fully funded PhD, with stipend in Europe
  • Is a PhD worth it?
  • PhD in USA for international students
  • How to choose your PhD topics?

  Sources: 1 , 2 , 3 , 4 , 5 , 6 , 7

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16 thoughts on “PhD after MBA”

Hi I have done BCA+MCA from IGNOU. I got 92 percentage in BCA and 84 percentage in MCA. I have also worked as Software developer while doing my MCA for 3.5 years in a small start- up firm. I want to do MS in Computer Engineering. My question do top and middle tier American universities accept degrees from IGNOU (although it is a distance education IGNOU is recognised by government of India under act of parliament ) So Is my degrees from ignou valid for admission for MS in top american universities

Hi, I am pursuing PhD in India on the topic Organisational behaviour. But i am interested to do in USA. please tell me the ways if i can apply in some of the university’s. I am in US at present. kindly help me

Hello, I am name is Ankita, I have completed my Masters in Microbiology (Pune University). And I have been working in CSIR-URDIP as a patent analyst for the last 2 years now. As the place I am working at doesn’t give any kind of security in future, I have been off lately thinking about either apply for PhD abroad or MBA or do some courses regarding patent analysis abroad. Can you please give me any suggestion regarding what to do at this stage ?

@Dheeraj: There are some universities who consider IGNOU degrees. But it depends on which course you’re applying for. So best to check with them directly. We have some inputs for the MBA degree here: https://www.mbacrystalball.com/blog/2014/02/17/mba-after-correspondence-courses-distance-education/

@Sanam: You’d probably have to reset the call and start afresh. Specially if your current work has little or no overlap with what you plan to do in the US.

@Ankita: The decision would hinge on what you want to do after the degree. For a business oriented role, an MBA works best. For academic roles, a PhD works better.

Hello.. I have done MBA(HR & MK)in 2018.. I wanna take admission for phd in IIT’s.. Plz suggest me how can apply for this Thnks

Hi, I have done MBA ( management and leadership) in 2018 from Keiser university, Fl . I want to start PhD in supply chain. Please suggest me how can I apply for this. Thanks

Hi myself Rupak Debnath I have done MBA in MARKETING and HR and now I want to pursue PhD degree from IGNOU. My question is will it be right enough to opt a higher degree from open University and how much can I be benefited from the decision I have taken?? Please reply without any hesitation……….. waiting for your valuable reply………. Thanks

hi, I have done my MBA in HR and now i want to pursue phd in economics in hyderabad central university. am i eligable to apply and if yes , how to do that. kindly please let me know. regards, bindu yamini.

Could you please guide which PHD Programm will be approraite post “MBA in Consultancy Management”

hi i have completed my B.tech in mechanical engineering+ now i completed my MBA in Marketing& finance now i want to do phd in the operational manger field pls suggest something…

Pros and cons of doing PhD in Business Management after M.Com

Hi I had completed my mba in marketing in 2005 now i want to do p.hd from Canada.. Pls suggest…

Am Naveen an International Business Marketing Consultant having completed PGDM in Marketing + IT and hold BBM in International Business and seek a PHD in similar field. Alternatively, am working a Managing Partner for a Jewel Store too. As am traveling on a daily basis I want to complete my PHD to teach full-time at universities or colleges worldwide. Thanks

Assalam o Alakom I have don my MBA 3.5 year and HR Now to pursue PHD .am i eligable to apply for PHD..how to do that. kindly pleas i want to brief me in detail explain trough whatsaf way +923428966603 regards, Muhammad Hanzala

Sir,Can I eligible for phd program(Europe countries).After completion of mba(open degree) program in india.

Hi, I am Ankit from India, I did complete my MBA with Finance in 2016 and I have 4 year experience in same profile. Now I am looking Phd program in Finance in USA.

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Top 7 Courses after MBA Finance in 2024 (With Highest salary)

The ever-evolving world of finance demands professionals who can continuously learn and adapt to new challenges. As an MBA Finance graduate, you already possess a strong foundation in financial management, but there’s always more to learn. With an array of specialized courses and certifications available, it’s essential to know which ones can provide the most significant boost to your career.

This article aims to present the top courses that MBA Finance graduates can pursue in India to enhance their career prospects and knowledge. We will discuss the benefits of undertaking these additional courses, factors to consider when choosing a course, and the top institutions offering these programs. Let’s dive into the world of opportunities that await you!

Why Pursue Additional Courses After an MBA Finance?

Upskilling is vital for staying relevant and competitive in the dynamic financial industry. Pursuing specialized courses after an MBA Finance can provide you with numerous benefits, including:

  • Competitive advantage: With the job market becoming increasingly competitive, having additional certifications will distinguish you from your peers and enhance your employability.
  • Diversifying skill sets : As finance evolves, so do the skills required by professionals. Acquiring new skills and qualifications can open up new career opportunities and broaden your horizons.
  • Staying updated: The financial sector is constantly changing, and it’s crucial to stay abreast of the latest industry trends, techniques, and tools. Additional courses can help you keep pace with these changes and maintain your expertise.

Top Courses to Pursue after an MBA Finance

Chartered financial analyst (cfa).

The Chartered Financial Analyst (CFA) Program is a globally recognized and highly respected certification for finance professionals, administered by the CFA Institute. It focuses on investment management, including portfolio management, financial analysis, and wealth management. The program consists of three levels and typically requires 2-4 years to finish.

Why Pursue CFA After MBA Finance?

Pursuing a CFA after an MBA Finance can demonstrate a deep understanding of investment analysis and portfolio management, making you more competitive in the job market.

Cost of doing CFA

₹4 Lakh to ₹5 Lakh approximately

Average Salary After CFA

CFA charterholders in India can expect an average annual salary ranging from ₹10 lakhs to ₹25 lakhs, depending on factors like experience and job role.

Job Opportunities After CFA

The CFA designation can open up various job opportunities in the financial industry, such as investment analyst, portfolio manager, wealth manager, risk manager, financial consultant, and research analyst. CFA charterholders are also in demand in investment banks, asset management firms, hedge funds, private equity firms , and financial consulting firms.

For more details: CFA Jobs in India – Scope, Salary, and Recruiters

Top Institutions Offering CFA Coaching

Some of the top institutions offering CFA preparation courses in India include:

  • IMS Proschool
  • Edupristine
  • CFA Institute’s Official Learning Platform

Financial Risk Manager (FRM)

The Financial Risk Manager (FRM) certification, offered by the Global Association of Risk Professionals (GARP), is a prestigious designation for risk management professionals. The program covers topics such as market risk, credit risk, operational risk, and risk management in investments. The course consists of two parts, and candidates can complete it within 1-2 years.

Why Pursue FRM After MBA Finance?

Pursuing an FRM after an MBA Finance showcases your expertise in identifying, analyzing, and mitigating financial risks, making you a valuable asset to employers in the finance industry.

Cost of doing FRM

The cost of the FRM Program varies depending on when you register for the exam. The one-time enrollment fee is $400, and the standard registration fee for each part ranges from $550 to $750. Additional costs may apply for preparation courses offered by various institutions.

Average Salary After FRM

In India, professionals who have earned the FRM certification can anticipate an average yearly salary between ₹8 lakhs to ₹20 lakhs, which varies based on elements such as their experience, job position, and geographical location.

Job Opportunities After FRM

The FRM certification can open up various job opportunities in the financial industry, such as risk analyst, credit risk manager, market risk manager, operational risk manager, and risk consultant. FRM-certified professionals are in demand in banks, investment firms, insurance companies, consulting firms, and regulatory agencies.

For more details, read: FRM Jobs in India – Scope, salary and Recruiters

Top Institutions Offering FRM Coaching

Some of the top institutions offering FRM preparation courses in India include:

Certified Management Accountant (CMA)

The CMA certification, offered by the Institute of Management Accountants (IMA), concentrates on management accounting, financial analysis, planning, and decision-making. The course has two parts which can be completed within 12-18 months.

Why Pursue CMA After MBA Finance?

Pursuing a CMA after an MBA Finance enhances your skills in strategic financial planning and analysis, setting you apart from your peers and increasing your value to potential employers.

Cost of doing CMA

The cost of the CMA Program includes a one-time IMA membership fee ($245 for professionals, $39 for students) and an entrance fee ($250). The standard exam fee for each part is $415 for professionals and $311 for students. Additional costs may apply for preparation courses offered by various institutions.

Average Salary After CMA

Professionals in India who have attained the CMA certification can anticipate an average yearly salary between ₹7 lakhs to ₹20 lakhs, which varies based on elements such as their experience, job position, and geographical location.

Job Opportunities After CMA

The CMA certification can open up various job opportunities in the financial industry, such as management accountant, financial analyst, financial controller, finance manager, and chief financial officer. CMA-certified professionals are in demand in corporations, consulting firms, and government agencies.

Top Institutions Offering CMA Coaching

Some of the top institutions offering CMA preparation courses in India include:

  • EduPristine
  • Miles Education

Certified Financial Planner (CFP)

The Certified Financial Planner (CFP) certification, provided by the Financial Planning Standards Board (FPSB), is a highly regarded credential globally acknowledged for financial planning professionals. The program covers topics such as financial planning, which includes investment planning, insurance planning, tax planning, retirement planning, and estate planning. The course consists of multiple modules which can be completed within 12 to 18 months.

Why Pursue CFP After MBA Finance?

Pursuing a CFP after an MBA Finance demonstrates your expertise in creating comprehensive financial plans tailored to individual clients’ needs, making you a valuable asset to employers in the financial industry.

Cost of doing CFP

The expense of the CFP Program encompasses a one-time registration fee (₹12,000), module fees (₹18,000 per module), and examination fees (₹5,000 per exam).Additional costs may apply for preparation courses offered by various institutions.

Average Salary After CFP

In India, professionals who have earned the CFP certification can anticipate an average yearly salary between ₹6 lakhs to ₹18 lakhs, which varies based on elements such as their experience, job position, and geographical location.

Job Opportunities After CFP

The CFP certification can open up various job opportunities in the financial industry, such as financial planner, wealth manager, investment advisor, insurance planner, and estate planner. CFP-certified professionals are in demand in banks, wealth management firms, insurance companies, and financial planning consultancies.

Top Institutions Offering CFP Coaching

Some of the top institutions offering CFP preparation courses in India include:

  • International College of Financial Planning (ICoFP)
  • Ambition Learning Solutions

Financial Modeling and Valuations

Financial Modeling and Valuation is a globally recognized skill for professionals aspiring to get into core finance jobs. The certification covers topics such as Excel-based financial modeling, business valuation, and financial analysis. The course consists of multiple modules and can be completed within 4-6 months.

Why Pursue FMV Course After MBA Finance?

Pursuing an FMVA after an MBA Finance showcases your expertise in creating financial models, valuing businesses, and analyzing financial data, making you a valuable asset to employers in the finance industry.

Cost of doing FMV Course

The cost of the FMV Program can range from $400 to $500, which depends upon the institution and the level of details of the particular course.

Average Salary After FMV Course

Professionals who have obtained the FMVA certification in India can expect an average yearly salary ranging from ₹8 lakhs to ₹22 lakhs, which varies based on factors such as their experience, job role, and location.

Job Opportunities After FMV Course

The FMVA certification can open up various job opportunities in the financial industry, such as financial analyst, financial modeler, valuation analyst, investment banker, and equity research analyst. FMVA-certified professionals are in demand in investment banks, private equity firms, hedge funds, and financial consulting firms.

Top Institutions Offering FMV Course

Some of the top institutions offering FMV course in India include:

Certified Public Accountant (CPA)

The CPA certification, offered by the American Institute of Certified Public Accountants (AICPA), is a highly respected credential for accounting professionals worldwide. The program covers topics such as auditing, financial accounting and reporting, regulation, and business environment and concepts. The course consists of four sections and can be completed within 12-18 months.

Why Pursue CPA After MBA Finance?

Pursuing a CPA after an MBA Finance enhances your skills in accounting, financial reporting, and auditing, making you a valuable asset to employers in the finance and accounting industries.

Cost of doing CPA

The cost of the CPA Program includes a one-time application fee ($150-$200, depending on the jurisdiction) and an examination fee for each section ($226.15 per section). Additional costs may apply for preparation courses offered by various institutions.

Average Salary After CPA

In India, professionals who have earned the CPA certification can expect an average yearly salary ranging from ₹8 lakhs to ₹25 lakhs, which varies based on factors such as their experience, job role, and location.

Job Opportunities After CPA

The CPA certification can open up various job opportunities in the financial and accounting industries, such as public accountant, auditor, tax consultant, financial analyst, and financial controller. CPA-certified professionals are in demand in accounting firms, corporations, government agencies, and non-profit organizations.

Top Institutions Offering CPA Coaching

Some of the top institutions offering CPA preparation courses in India include:

  • Becker Professional Education
  • Wiley CPAexcel

Advanced Management Program (AMP) or PhD in Finance

The Advanced Management Program (AMP), also called PhD in Finance is an executive education program designed for experienced finance professionals seeking to broaden their understanding of finance and leadership. The program covers topics such as corporate finance, financial strategy, risk management, and leadership development. The course duration varies depending on the institution, typically ranging from a few weeks to several months.

Why Pursue AMP After MBA Finance?

Pursuing an AMP in Finance after an MBA Finance can help you develop strategic thinking, enhance decision-making abilities, and improve leadership skills, making you a more effective leader in the finance industry.

Cost of doing AMP

The cost of the AMP in Finance varies depending on the institution and program duration. It can range from ₹2 lakhs to ₹15 lakhs or more. Some institutions may offer scholarships or financial aid to help cover the program fees.

Average Salary After AMP

Professionals who complete an AMP in Finance can expect an average annual salary ranging from ₹15 lakhs to ₹35 lakhs or more, depending on factors like experience, job role, and location.

Job Opportunities After AMP

The AMP in Finance can open up various job opportunities in the financial industry, such as finance director, chief financial officer, financial consultant, and senior finance manager. Professionals who complete an AMP in Finance are in demand in corporations, banks, investment firms, and financial consulting firms.

Top Institutions Offering AMP

Some of the top institutions offering Advanced Management Programs in Finance in India and globally include

  • Indian School of Business (ISB)
  • Indian Institute of Management (IIM) Bangalore
  • Harvard Business School (HBS)

Factors to Consider When Choosing a Course

  • Personal interests and career goals : It’s essential to choose a course that aligns with your interests and long-term career objectives.
  • Time commitment and course duration: Consider the time you can dedicate to the program and how it fits into your schedule.
  • Financial investment : Evaluate the cost of the course, including tuition, study materials, and examination fees, to ensure it aligns with your budget.
  • Reputation and accreditation of the institution offering the course : Research the credibility of the institution providing the course and whether it is accredited by relevant industry organizations.

Continuous learning is critical for staying ahead in the ever-evolving world of finance. By pursuing top courses after your MBA Finance in India, you can enhance your career growth and maintain a competitive edge in the financial industry.

By selecting the appropriate program, you can broaden your range of expertise and open up fresh opportunities in the finance industry. The journey to success never ends, so embrace the challenge and keep learning!

Frequently Asked Questions

If your MBA is from top 20 MBA Colleges and you have a good campus placement then you should take that ahead otherwise you can consider the latter option.

The candidates have a wide range of job options with an MBA in finance. These professionals include chief financial officers, business analysts, credit managers, hedge fund managers, and financial analysts, among others.

phd options after mba finance

CA Yash Jain

Bain & Co. 5000+ Students Trained in the field of Investment Banking, FRM & CFA

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Unlock financial insights: guide to pursuing a phd in finance management.

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Several prestigious institutions in India offer a PhD in Finance program, which is a research-oriented course that provides a deeper understanding of financial concepts. To pursue this program, candidates must pass entrance exams and have a minimum overall score of 55% in their relevant master's degree.

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About phd in finance management.

  • A PhD in Finance is a research-focused programme that prepares students for advanced academic and research careers in economics and finance.
  • Those who want to apply for admission to the programme must have managerial, leadership, logical, and analytical abilities.
  • Accounting, economics, financial management, and other related topics are all studied in finance.
  • Students pursuing a PhD in finance receive training in subjects such as corporate finance theory, investments, and statistics.
  • In their course curriculum, the students also have the opportunity to investigate various financial markets and products.
  • A PhD in Finance is a research-based programme designed specifically for academic or research-based careers.
  • While the majority of institutions demand that applicants have a Master's in business administration, some of them admit students to PhD in finance programmes after they have already earned their bachelor's degrees.

Why do a PhD In Finance?

  • High income - A PhD in Finance graduate may expect to make between INR 4 LPA and INR 8 LPA in income on average. According to the website Pay Scale, the average pay of a PhD in Finance graduate is roughly INR 12,50,000 PA, and it rises with experience. In addition to this, the candidates receive perks and additional benefits including DA, Provident Funds, Travel Expenses, and health insurance.
  • Careers: After completing the course, students have the option of pursuing a career in academia or industry. Both professional paths have equal financial success. They have the choice to pursue a career as a professor, lecturer, or associate professor in academia. They can choose to work as market research analysts, investment bankers, etc. in the industrial sector.
  • Job Stability: The majority of PhD finance graduates choose to work in academia because it offers job security. In industrial employment, they are typically hired in top-level roles, primarily as consultants, which are thought to be more stable and have a lower attrition rate.

PhD Finance Management Admission Process

  • Step 1: registration. Candidates must go to the entrance examination authorities' website, register using an email address or phone number, and create a login ID.
  • Step 2: Complete the application form - Students who wish to pursue a PhD in finance must complete the applications for the relevant institutions. Online application forms are available for filling out. Candidates must offer information about the cities where they prefer to take the entrance exams as well as essential academic information.
  • Step 3: Upload the different documents. Candidates must upload the different documents in their desired size and format. Then, the applicants must pay the application fees and print a receipt for their records.
  • Step 4: Candidates must appear for the admission exam, which is compulsory for all applicants. Each university administers its own admissions tests. The students are invited for the interview based on how well they did on the entrance exam.
  • Step 5: Attend the interview - Following the announcement of the admission test results, the chosen students are contacted for an interview. The interview may include several rounds. The candidates must present their theses as well as the research areas they will focus on throughout their PhD studies.
  • Step 6: Admission to the College - Students who pass the interview will be contacted for the rest of the admissions process and given permission to enrol in the relevant university.

Eligibility Criteria for PhD Finance

  • The student must complete his or her post-graduate studies at an accredited university in subjects like accounting, economics, or mathematics. The PhD in Finance Course accepts applications from candidates from the MBA Finance Stream as well.
  • Additionally, the student must have earned at least a 55% in their post-graduation course. Candidates who are SC/ST/OBC/PwD receive a 5% mark reduction.
  • There is no maximum age for admission to the PhD programme.

Entrance Exams For PhD In Finance

  • NET UGC Exam
  • PET SIU Exam
  • JNU PhD Admission Test
  • GTU PhD Admission Test

PhD Finance Top Colleges

  • Ahmedabad University
  • Alliance School of Business
  • Amity University
  • Department of Management Studies-IIT Madras
  • Gitam University of Management
  • Indian Institute of Foreign Trade
  • Kalinga Institute of Technology
  • National Institute of Technology
  • Shailesh J. Mehta School of Management
  • Sharda University

PhD Finance Career Options

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Doing A PhD After MBA

Doing a Ph.D. After MBA | Eligibility Criteria, Career Scope, Employment And Salary

Doing A Ph.D. After MBA: The ‘road less taken’ can be simply called for Ph.D. after MBA. Not many people is seen to pursue a Ph.D. in Commerce; as it is a field that does not attract and relatively unknown many pursuers.

In the academic field, Ph.D. after MBA is more useful than a professional one. initially; The ROI and opportunity cost for this course are also not up to par, however, by saying that, it does not mean that the course is not worth it or useless. If a Ph.D. is done right then it can be quite rewarding.

Ph.D. after MBA or Management

  • Ph.D. Course Duration after MBA

Eligibility Criteria for Ph.D. After MBA

Can one do a ph.d. after mba, after mba available top ph.d. courses, how to do a ph.d. after mba, ph.d. after mba in india, can i actually do a ph.d. after distance mba, ph.d. after mba – in distance education.

  • Ph.D. After MBA Abroad – Entrance Exams & Admission Process
  • Top-Most Abroad Universities for Pursuing PhD after MBA
  • Best Countries to Study PhD after MBA Abroad
  • Ph.D. After MBA in USA

Ph.D. After MBA in Australia

Ph.d. after mba in germany, ph.d. after mba finance.

  • Scope Of Ph.D. after MBA in Finance

Ph.D. in Management

  • Career Scope, Employment, and Salary for Doing a Ph.D. after MBA
  • FAQ’s on Doing A Ph.D. after MBA

As one may expect it to be, Ph.D. after MBA may not be as advantageous. After getting done with an MBA, rather than pursue a Ph.D., many prefer to increase their work experience, but if you are interested in doing research in the field of your interest, a Ph.D. may be the perfect course for a person to take up.

Ph.D. researchers or individuals also get a chance to do individual research and study, apart from the extensive knowledge which the course provides, which puts them quite apart from other managers.

  • The course requires a lot of dedication and rigorous hard work in Ph.D.
  • A lot of time needs to be invested by someone with a Ph.D., which can be tedious.
  • The Ph.D. course combines practical application with theoretical knowledge.
  • There are many practical methods and approaches like field studies, econometrics, experimental methods, etc., which are mostly used during Ph. D.s.
  • For those who want to teach Management, Ph.D. is for them.
  • The profession of the Professor is most sought after and reputable.
  • Ph.D. researchers also work as consultants in top firms.
  • Ph.D. increases their analytical skills and trains researchers.
  • Because of their skillset, positions in analytics are offered commonly to Ph.D. researchers.
  • One may not quite earn much before getting tenure, and the growth is considerably slow.

Do Refer: Career Objective for MBA

Ph.D. After MBA or Management

Ph.D. Course Duration After MBA

Depending on the research topic, methodologies, and time and labor investment, the duration for Ph.D. after MBA may vary.

On average, it may take 4 to 5 years for the completion of a Ph.D.. Depending on the country and institution, the duration may also vary.

Country Duration (Average)

  • India –  3 years
  • USA – 5-7 years
  • UK – 3-4 years
  • Australia – 4-6 years
  • Germany – 3-5 Years

Eligibility Criteria for a Ph.D. after an MBA must be an MBA degree, as one may assume. But that’s not so.

There are many other criteria for eligibility, as well. To pursue a Ph.D. after MBA, one must fulfill being eligible for a Ph.D. after MBA, and the following are the criteria.

  • One must have an acceptable TOEFL or IELTS exam score to prove their proficiency in the English language.
  • One must also have a respectable, which may vary as per the university of GRE/GMAT score.
  • Students must also submit their essays, transcript and SOP.
  • Letters of Recommendation are required. At least 2 to 3 times to be submitted by the aspiring student.
  • Oftentimes, an interview is conducted either online via video call or physically to test student’s eligibility and knowledge.
  • Students must have a thesis statement or an idea and a dissertation ready.
  • It is crucial that the students are well versed to have a clear idea and what they want to do about their objectives.
  • The acceptance rate at top-rated Business Schools is around 3 to 5%.

Yes, one actually can do a Ph.D. after MBA. There are various business schools worldwide that offer Ph.D. programs after an MBA, which can be pursued.

For the MBA itself, some years of work experience is required by many schools. The Student may already have the direction they want to take in their life by choosing to pursue an MBA.

A Ph.D. after an MBA is not quite a popular choice, but many students still decide to pursue the research either for better opportunities or out of interest. To pursue a Ph.D., the criteria for eligibility include more than 50% or more marks in your post-graduation, and students are also required to take up an entrance exam. The field of Ph.D. is open for the Student or for anyone who has done an MBA.

A student may choose from several Ph.D. courses after MBA. Due to its vast scope, there is no dearth of specialization in the field of management.

As the Ph.D. in Management is an unexplored field, each research in each area is equally important.

There are several available courses one may take, like:

  • Entrepreneurship
  • Human Resource Management
  • Commercial Law
  • Operational Research
  • Healthcare and Management
  • Organizational Behaviour
  • Computer Science
  • Engineering
  • Political Science

For students who actually want to do a Ph.D. after their MBA is done, there are many options. It is important that for the duration of 2 years, the MBA course the candidate has done.

The students must choose their work and field of interest in that direction and also most important.

Students always have the choice to pursue a Ph.D. in abroad or India. The application process for both remains more or less the same. To do a Ph.D. after an MBA abroad, one has to additionally give language proficiency exams like IELTS or TOEFL and exams like GMAT or GRE.

For India, exams like CAT are applicable.

Ph.D. After MBA or Management

  • One must have a good score in their CAT exam and a two-year MBA degree.
  • For admission in their Ph.D. courses, GATE or even UGC NET may be required at some top IIMs.
  • A Ph.D. may actually vary from 3 to 5 years on average, and it is important to note that the duration.
  • In the first year of Ph.D., the candidates are trained in research methodologies and subjects, etc. and are mostly dedicated to the coursework.
  • In the second year, one may choose the area in which they will be conduction research and their specialization.
  • It is often advisable that students actually choose the area for research in which they have specialized during their MBA. It is, however, not quite compulsory.
  • A Ph.D. thesis is the most essential part of any Ph.D., and during their second year only, it is important that students start developing it.
  • In the third year, after they have researched and collected data, a student is asked to present their thesis statement.
  • After the first six months of the third year, students are free to write their research papers and Ph.D. and do their research.
  • The whole process can be quite time-consuming, but the only trick here is to be very resilient.
  • Yes, you can obviously do a Ph.D. after a distance MBA.
  • The institute must be recognized by the UGC.
  • Universities are not allowed to differentiate between the degrees.
  • The degree earned and mentioned in the eligibility criteria must be in tandem.
  • As the process for regular courses, the application process is as same.
  • Candidates must submit their essays, SOPs, mark sheets, documents, etc., like any other regular candidate.
  • Mostly on entrance exams and interviews, the admission in a Ph.D. program is based.
  • Over the ones who did pursue their degrees via distance education mode, Some institutes may prefer regular students.
  •  The decision is solely based on the discretion of the university to select a candidate or not.

In Distance Education, one can definitely do a Ph.D. after MBA, but few things actually need to be taken into consideration.

It is important and mandatory that the institution from where the candidate has pursued their MBA in Distance education form is recognized by any other supreme commission as relevant to the country or by the UGC.

Also, for the Ph.D. program, one is applying to, the degree must match the eligibility criteria as well.

Ph.D. After MBA Abroad – Entrance Exams & Admission Process:

If you are actually planning to pursue a Ph.D. after an MBA, especially from abroad, then the following points will help and guide you through the application process and entrance exams:

  • For global universities, the application process is very different from the universities of India. You actually don’t have to give any entrance exam to pursue a Ph.D. after an MBA from abroad; rather, the GMAT / GRE score is needed to submit.
  • Previous project and research work matter, LORs, SOPs, and a lot when you are actually looking to pursue a Ph.D. abroad. They increase the chances of getting selected by making your profile strong.
  • For Ph.D. programs, most of the universities have a 3-5% acceptance rate. Thus, it is vital to make your application strong; get in touch with experts if you need any help regarding the same.
  • You need to work on your specific thesis, submit it in the provided duration as the curriculum more or less remains the same in Ph.D., and complete your Ph.D. after MBA.

Top-Most Abroad Universities for Pursuing Ph.D. after MBA

For better assistance at the time of your research on Ph.D. Courses after completion of MBA, we have enlisted some of the significant academic universities that are globally famous for their advanced specialized courses on Ph.D. after MBA:

Best Countries to Study Ph.D. after MBA Abroad

Most of the popular abroad destinations for Ph.D. studies are UK, USA, Australia, Germany, and Canada. These countries are notable for their research doctoral courses so choosing the best country to study Ph.D. is a crucial decision. So, decide carefully by doing deeper research about the course and universities in all countries. Let’s have a glance at the top countries to study Ph.D. after MBA and their popular research universities below for some idea:

Ph.D. After MBA in the USA

Ph.D. after MBA in the USA is the most popular place; because of a highly research-friendly environment, it especially is a great place to pursue a Ph.D. after an MBA.

The USA offers students unlimited data and resources to facilitate their research as it is home to the top business schools. The amenities are quite good here, which are provided to Ph.D. researchers.

  • University of Pennsylvania
  • Harvard University
  • Stanford University
  • The University of California
  • Columbia University
  • Kellogg School of Management
  • The University of Chicago
  • Washington University
  • Cornell University
  • University of Michigan

Ph.D. after MBA in Australia is also home to many great universities, and it is a very pleasant place to be at.

Ph.D. programs after MBA are offered by many great B-schools present. For applying practical methods, there is a lot of scopes and here because of the way corporates and businesses are run here.

Students will be provided with quite a lot of opportunities to collect primary as well as secondary data and conduct researches.

  • Australian National University
  • UNSW Sydney
  • University of Western Australia
  • University of Sydney
  • University of Melbourne
  • University of Queensland
  • Monash University
  • University of Adelaide
  • Queensland University of Technology
  • University of Canberra

Probably the best place to pursue a Ph.D. after an MBA in Germany because of the varieties of facilities like the grant which are made available for students studying.

Germany has the best management programs and boasts of some of the best universities in the world as well. Many universities in Germany offer great guidance to students to help them in their research work and Ph.D. in management.

  • University of Berlin
  • University of Hamburg
  • Technical University of Munich
  • Heidelberg University
  • Humboldt University of Berlin
  • Karlsruhe Institute of Technology
  • RWTH Aachen University
  • University of Freiburg
  • Bielefeld University

One of the topmost and popular specializations is a Ph.D. after MBA in Finance. The scope is vast, and the opportunities are quite endless.

Though the subject for those interested may seem challenging, it has a plethora of research ideas and opportunities.

Expertise in subjects like Mathematics and Economics is required by Ph.D. in Finance.

The top universities which are offering this program are:

  • Indian Institute of Foreign Trade
  • Narsee Monjee Institute of Management Studies
  • The Centurion University of Technology and Management
  • Birla Institute of Technology and Science
  • Indian Institute of Management, Ranchi
  • Indian Institute of Foreign Trade (IIFT)

Scope Of Ph.D. After MBA in Finance

Opportunities after opportunities are present in Ph.D. after MBA in Finance. There is a wide and deep scope of opportunities, and many companies to hire because of their skill and both practical and theoretical knowledge do look out for such candidates. Top companies seek to recruit candidates who have completed their  Ph.D. in Finance and  like the ones mentioned below .

  • TATA Consultancy
  • Genpact Technologies Ltd

One of the highest degrees of academic awarded in the study of management is a Ph.D. in management. For those seeking teaching careers and academic research as professors or faculty in the field of management at business schools worldwide, a Ph.D. in Management degree was designed.

Following are some Benefits of PhD after MBA

  • Helps you become a better thinker:  More than just consume what has been taught in the classes, a good Ph.D. in Management program encourages you to do more – it teaches you to become a good thinker and create more. One will achieve newer levels of critical thinking by moving past passive learning, which you can apply in new ways in your field of interest as well as your career.
  • To gain an edge:  A Ph.D. in Management is essential and immediately marketable, especially in today’s workforce, provide an asset that will give you a competitive advantage. A Ph.D. in Management proves the expertise in your field of study; you have an impressive level of credibility and a lifelong commitment to learning which will help you fulfill your professional goals.
  • Become a competitive scholar-practitioner:  A Ph.D. in Management will give you the confidence and knowledge but present at them instead of just attending academic conferences. You’ll discover your write a dissertation, may find yourself authoring peer-reviewed articles published in your field’s leading journals, and may have a scholarly voice.
  • Skills enhancement:  A Ph.D. in Management can actually help you enhance valuable skills and gain that are universally applicable to any kind of field. They are empowering you to make more of an impact in your current role by giving you expertise outside of your organization by the degree, which in turn helps people around you as well. You may find colleagues turning to you for guidance, Once you begin your studies.

Ph.D. in Management

Career Scope, Employment, and Salary for Doing a Ph.D. After MBA

Somewhere between 8 Lakhs to 18 Lakhs per annum, Ph.D. after MBA salary in India is depending upon whether you explore the academic domain working as a lecturer or academician or working in a corporate sector.

For graduates with a Ph.D. in Commerce-related specializations and Management below, we have elucidated upon the major employment sector:

  • Teaching: A Ph.D.’s most popular career path post is that of becoming a professor or teacher. Most Ph. D.s in management or business pursue it in the first place to pursue a career in particular academics. Further, to hire Ph.D.’s like business school professors, most of the research universities prefer. Suppose you aim to become a part of Ivy League schools or other prestigious academic institutions because of this striking combination coupled with a few years of professional experience. In that case, you should definitely go for a Ph.D. degree after MBA. It can make you an ideal candidate for the position of lecturer or university professor at a business school. Nearly 75% of business ‘Ph.D. after MBA’ graduates at business schools become faculty members, to give a rough statistical description, and roughly 25% take jobs in the industry.
  • Research: A Ph.D. involves extensive analysis and is quite a data-driven degree and in-depth assessment as it constitutes various submissions of a multiple research thesis as its incremental element. If you have planned to pursue a career in research, but combining it with a Ph.D. might give you the knowledge and expertise of both the research world as well as corporate, and an MBA is more of a route of professional to take. You can further enter various research sectors with a versatile skill set by getting the taste of both these areas, which will prove extremely useful in carrying out path-breaking contributions and case studies with the potential of bringing a newer light to the commercial industry.
  • Corporate Sector: As a common myth, you might be told that in the professional world, a doctorate degree is of no use, but it is quite the opposite as a Ph.D. after an MBA can furnish you with the outstanding business acumen to fit the role of business consultants and analysts. As many of the doctoral scholars move further to become professors or researchers, only a small proportion of them head towards the industry. As this degree provides aspirants with the understanding of employing Ph.D. s derive wisdom from their theoretical and unique methodologies for analysis, which, when combined with the pragmatic training obtained during MBA, marks for a marvelous body of knowledge. You can explore varied prospects in entrepreneurship ventures as well as companies like SEC, JP Morgan Chase, McKinsey, and Morgan Stanley, which are known to hire Ph. D.s frequently.

FAQ’s on Doing A Ph.D. After MBA

Question 1. What Ph.D. should I get after my MBA?

Answer: For students who want to do a Ph.D. after their MBA is done, there are many options. The MBA course the candidate has done must be for the duration of 2 years, and it is important. The most common career path after that is chosen is teaching.

Question 2. Is an MBA higher than a Ph.D.?

Answer: Compared to a Ph.D. that takes 4-6 years, you can complete your MBA in 1- 2 years. It allows them to start their career far sooner for the student, so the MBA is considered advantageous.

Question 3. Can I do a Ph.D. while working?

Answer: Yes, you can do a Ph.D. while working, but this can only happen if you are keen to work. Working full time and doing a Ph.D. is not easy; you won’t make progress without constant effort.

Question 4. Can I do a Ph.D. at 40?

Answer: Yes, you can do a Ph.D. at the age of 40; most of the person who does this are mostly in the education sector. The only problem that comes up is that not all programs will be open for you.

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MBA after PhD

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  • Updated on  
  • Apr 14, 2023

MBA after PhD

A qualification, regardless of level and field of study, will never be a waste; one just needs to realize how to use it wisely and appropriately. As we navigate through life we shift our perspective and interests, our education choices, therefore, need to reflect this. Usually, students with PhD do not plan to study ahead, but MBA is an opportunity that it is not easy to let go, especially as it allows professionals to enter the corporate world with great opportunities ahead. In this blog, let us understand what it takes to study MBA after Ph.D . 

This Blog Includes:

Benefits of mba after ph.d., who earns more mba or ph.d., top mba entrance exams, top indian universities for mba, top foreign universities for mba, top 6 countries to study mba after phd.

Ph.D. armed you with tenacity, discipline, critical analysis of information, and the knowledge unparalleled by anyone else in the exact topic of your research. It qualified one as a specialist . It provides sound research focus, whereas MBA on other hand provides sound business and leadership focus.

It is understandable that a Ph.D. is the highest degree that one can have, but there is no hard and fast rule that one cannot pursue MBA after completing their Ph.D. Ph.D. might restrict you in one field and does not let you explore a job in another field. Also, some upper management positions may require some business expertise and if your Ph.D. is not based on the business field, considering MBA can give you that push in the business area. MBA after PhD not only offers great career opportunities but also guarantees a highly paid job and also lets you develop a strong professional network. MBA will offer you a wealth of advantages, especially when it’s from a well-reputed business school . There are many good reasons for pursuing MBA after PhD and here is a detailed guide about how doing an MBA can benefit your career:

  • Develop advanced and flexible management skills.
  • It gives you greater business network opportunities.
  • It helps you make the transition from academia to industry.
  • One can start their own company from scratch.

Here is a table containing general differences between an MBA and a PhD

Incorporate sector a Ph.D. holder draws an average salary of 10 Lakhs in India. Whereas with 1 to 4 years of experience, early career MBA salary in India can grow up to 7-8 Lakhs.

There are various MBA entrance exams that are open with admission opportunities in top B-School. The list for top MBA exams are given below:

  • National Level: CAT , CMAT , and MAT
  • International Level: GMAT, GRE , IELTS , and TOEFL
  • University/College Level: XAT , SNAP , IIFT

The table below lists the application dates and exam date of top MBA exams:

When we talk about MBA in India, the first university which struck our mind is IIM. However, with time numerous universities had made it to the list of top MBA colleges. Below are the top B-Schools in India with their flagship program, entrance exams, and great salary package post-MBA.

  • IIM Ahmedabad
  • IIM Bangalore
  • IIM Calcutta
  • XLRI Xavier School of Management, Jamshedpur
  • Indian School of Business (ISB), Hyderabad
  • SPIMJR, Mumbai
  • IIM Kozhikode

Pursuing an MBA in a foreign university offers you the opportunity to have a globally recognized degree and explore job opportunities abroad with a higher salary, and career growth. MBA abroad requires a Bachelor’s degree and work experience for at least 4-5 years. Here we have listed some of the top universities you can consider for pursuing an MBA:

  • The Wharton School, Pennsylvania
  • London Business School, London (UK)
  • Stanford Graduate School of Business, Stanford (MA)
  • MIT Management, Cambridge (MA)
  • Harvard Business School, Boston (MA)
  • UC Berkeley, Berkeley (CA)
  • Columbia Business School, New York
  • F rankfurt School of Finance & Management, Germany
  • Nanyang Technological University (NTU)

For aspirants who are planning to get an MBA degree, here is the list of best places to study MBA for a successful career in the future:

  • United Kingdom
  • United States

The Ph.D. is a research-oriented path, while MBA is a practice of business. Learning more about non-profit marketing through a business program might help you advance in your career.  An MBA is very general/broad in nature, it covers many subjects, most of which have an entire master’s degree path in and of itself whereas a Ph.D. is so much more about only one thing.

Leading business schools in India like IIMs, XLRI, NMIMS, etc. offer financial help to deserving candidates to complete their management studies. Different universities offer different scholarship programs for students belonging to every category. Candidates who have obtained a first degree of at least upper second class honors standard, or a second-class degree and a Master’s degree or relevant postgraduate qualification are eligible for the Ph.D. scholarships of this program.

The most basic requirement for pursuing an MBA abroad is a Bachelor’s degree from a recognized university; preferably a full-time degree from a reputed institute. The second major pre-requisite of a foreign MBA is substantial work experience of a minimum of 3-5 years.

Yes, anyone can pursue an MBA after their doctoral degree. An MBA can boost your career journey, and skills learned through MBA are geared towards the industry.  

We hope you understand that it is possible to study MBA after PhD in this blog. Follow   Leverage Edu India’s no. 1 leading educational platform for related informative blogs. Please put your comments below in the comment section. 

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Top 10 Career Options After MBA in Finance

The current scenario of globalisation has given rise to the financial ecosystem that is crucial for every firm to establish itself. To effectively manage work related to finance, most businesses or firms require professionals who are experts in finance and know their way around it. Not only this, but the finance industry has also grown exponentially over the years, leading to a demand for finance professionals. An MBA in finance can be a great choice if you are planning to work in the finance industry. You can find various career options after MBA in Finance . Apart from this, online courses and certifications in finance and accounting are an added advantage. Finance and Accounting are crucial aspects of any organisation to grow and stay ahead in the competition.

Top 10 Career Options After MBA in Finance

Finance involves administering, controlling, and reviewing the investment and money resources in any business or corporation. If you are the one looking for a lucrative career option in finance, this article is for you. We have listed the best career options after MBA Finance. This article will also help you determine after completing MBA in finance what to do. So, let us get started.

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What is an MBA in Finance?

Master of Business Administration in Finance is a two-year postgraduate degree programme. One can opt for this MBA specialisation after completing a bachelor's degree. There are several management colleges in India that provide MBA in Finance. This MBA specialisation is quite popular among MBA students as it helps them hone their financial skills, understand various business concepts, and gain knowledge about the country's economy. There are also several job options after MBA Finance across various sectors.

Some of the reasons to pursue an MBA in Finance are given below:

Finance is almost everywhere - No matter which sector you are in, every corporation requires a flow of cash to perform regular activities like payment of salaries, distributing dividends, reinvesting, and many other things. By pursuing online degree courses and choosing an MBA specialization, one has the liberty to work with any organization's finance department.

Finance is considered one of the highest-paid sectors in the country - An MBA degree offers you a handsome salary. A good finance manager can earn an average salary of Rs 992,118 per year. The salary also depends upon the work experience, qualifications, recruiters, and geographic location of the company or the organization. An experienced and skilled candidate can easily earn attractive packages.

Best Colleges for MBA in Finance

Major Subjects of MBA In Finance

The list of the subjects taught in MBA in Financial Markets varies from institution to institution. Some fundamental subjects that are offered by most of the institutions:

Resource Links for Online MBA

  • Online MBA Colleges
  • Online MBA Syllabus
  • Online MBA Admission

Over the years, there has been a great upheaval in the financial sector, which has resulted in grave financial losses for countries as well as companies. All countries seek skilled financial experts who can deal with financial crises in the future. This rising demand has led to an MBA in finance as one of the most sought-after programmes across the globe.

Also read: Finance vs. Marketing - Which is the Best Specialization in MBA

Top 10 Career Options After Completing MBA Finance Course

Candidates can pursue various online courses & certifications from top providers to make a career in the finance field. Here, we have compiled a list of top career options after MBA Finance.

1. Investment Banker

This is one of the top career options after MBA in Finance. Jobs in investment banking have high demand, and candidates with an MBA in investment banking are preferred. An investment banker is a professional who works for any financial institution, and he has a primary role in raising capital for corporations, governments, and other entities. The responsibilities of an investment banker may also include connecting investors to different fund-needing organisations. The field of investment banking is quite popular as it has high salary prospects. Investment bankers have excellent number-crunching abilities, along with possessing strong verbal and written communication skills.

Also read: How to start a career in Investment Banking

2. Private Equity

This is another one of the best MBA in finance career opportunities. In this domain, there are vast job opportunities for finance professionals. There are many top companies that recruit MBA in finance graduates for job different roles in the field of private equity. Some of the companies are Fullerton, Fidelity Investments, Axis Securities, JP Morgan Chase, Kotak Wealth Management, Bajaj Finserv, ICICI Prudential Asset Management, and Indiabulls Housing Finance, among others.

Also Read : MBA in Finance Career Options: Salary, Placements, Job Opportunities, Scope

3. Financial Analyst

This is amongst the top career options after MBA Finance. Finance Analysts are the heart of almost every corporation in the finance department. Financial Analysts are skilled analysts dealing with financial matters. The primary responsibilities of a financial analyst include Collecting operational data, Establishment of standard costs for different products and services, Providing cost analysis with a detailed suggestion of policies analyzing trends, monitoring financial status, informing managers of variations, and Developing automated accounting practices. The average salary of a Financial Analyst in India is Rs 483,945 p.a.

4. Financial Manager

This is another one of the excellent job options after MBA finance. Financial Managers are individuals who manage a team comprising financial analysts. Their roles and responsibilities include educating team members on best practices and establishing of overall focus within the finance team to relate financial actions to business goals. They also oversee the flow of cash as well as the financial instrument of the organization, Prepare regulatorily and legally mandated reports, Liaise between the upper management and financial team members, and more.

5. Chief Financial Officer

This is the highest position in the financial department. Chief Financial Officer is one of the top job options after MBA in finance. As a CFO, you will directly communicate with C-level executives and the CEO and board of directors. CFOs make the final decisions on financial policies and their implementation. Their roles and responsibilities include coordinating the development and delivery of financial projections, working towards securing funds at critical growth points, and establishing strategic direction and guidelines for the corporations based on their finances. They also take care of the establishment of indicators and some tracking methods for production, quality, productivity, and customer services from a finance perspective, and help in maximizing returns on investment funds. The average salary of a Chief Financial Officer in India is Rs 3,572,867 p.a.

6. Account Manager

People with good experience in finance are preferred for this role. This is amongst the excellent career options after MBA in finance. Account Managers need to be well-versed in a broader organizational perspective to help the organization inform accounting decisions. They help in bridging high-level organizational goals with directives in an accounting department. Their roles and responsibilities include monitoring the daily activities of the accounting department, helping the candidates prepare proper routing and large financial documents and statements, and connecting the overall goals of the organization to the departmental tasks within accounting. They also ensure confidentiality and maintenance of protocol in terms of sensitive financial pieces of information and maintaining educational protocols for the members of the department. The average salary of an Account Manager is Rs 595,909 p.a.

Also Read : Top 10 Companies Hiring MBA in Finance Graduates

7. Corporate Controller

This is amongst the sought-after MBA in finance career opportunities in India. This is not a straight-up finance-centered role. Corporate Controllers perform hybrid roles like overseeing the financial and accounting functions of any corporation. They also perform tasks like invoicing, accounts payable, budgeting, and payroll processing. Their other roles and responsibilities include developing, managing, and executing the accounting functions of any organization, crafting and conforming to the financial reporting protocols and preparing reports for the SEC (Security and Exchange Commission). A Corporate Controller can earn an average salary of Rs 1,350,000 per year.

8. Management Consultant

This is one of the best career options after MBA Finance for students in India. Management Consultants either work for third-party consulting firms or form their own businesses. They offer services like providing data-driven guidance on how someone can run an organization efficiently. They play crucial consulting roles in firms that are planning to restructure or rebuild themselves. Their main roles and responsibilities are conducting research and data gathering for the organization of their client, running workshops and formulating focus groups to implement changes, and testing hypotheses to know what is right and what is not suitable for the client. Management Consultants also lead the team of analysts that help in analyzing the findings and liaise with relevant stakeholders. The average salary of a Management Consultant is Rs 1,270,157 per year.

Also Read : MBA Job Opportunities, Salaries, Top Recruiters, Scope

9. Credit Manager

This is amongst the top career options after MBA finance. Credit Managers are professionals who look after credit management and make decisions regarding credit limits within an organization. The responsibilities of a credit manager include Granting credits, Setting the terms on which the credit is given Recovering the credit when it is due, Building credit score models and determining the rate of interest, and assisting organizations in minimizing bad debts and increasing the revenues from the loans. The average salary of a Credit Manager in India is Rs 616,527 p.a.

10. Hedge Fund Manager

This is one of the best job options after MBA finance in India. Hedge Fund Managers are generally finance experts. They focus on managing the collective investments on behalf of the investors. The candidates seeking this job after MBA must have skills in financial analysis and management. The responsibilities of Hedge Fund Managers include researching different trends in the market, analyzing other investment options and selecting the best areas of investment for the client, developing investment portfolios, and buying and selling assets to maximize financial gains. Hedge Fund Managers are recruited from investment banks, investment consultancies, insurance companies, and asset management companies. The average salary of a Hedge Fund Manager in India is Rs 2,800,000 per annum.

Also read: Funding your MBA: Know all about MBA Education Loan options

The demand for MBA in financial markets has risen in recent years. The reasons include the growing career opportunities in this field. If you are good at Maths and statistics and are interested in the field of finance, then a degree of MBA in finance or online diploma courses in this field can be an excellent choice for you. You can choose from an array of career options after MBA in finance. You would be able to find a lot of support materials for MBA finance courses to work towards improving your knowledge. You can also choose the best finance courses by making an online course comparison .

Explore Finance Certification Courses By Top Providers

Frequently Asked Question (FAQs)

The duration of an MBA in Finance is two years. It is divided into four semesters, which mostly include an internship in the first year.

Individuals from any stream can pursue an MBA in finance. Accounts and economics are not mandatory subjects in your class 12th or graduation if you plan to pursue this degree.

Studying an MBA in finance is as challenging as learning any other MBA program. But the fact that specialization in finance requires extra focus on Maths and statistics is why some people feel a stricter degree.

An MBA in finance offers a variety of career opportunities to the candidates. These include Financial Managers, Business analysts, credit managers, hedge fund managers, chief financial officers, financial analysts, and others.

Although all kinds of MBA specializations give you a good career scope, the leading and the highest paying MBA specializations degrees include Finance, Entrepreneurship, Marketing, Operations, International Business, and Luxury Management, among others. Depending on one's skill and interest, one can opt for any of these specializations and make a promising career after MBA.

The fundamental subjects covered in MBA in finance courses include micro and macroeconomics basics in specific business administration, accounting, financial analysis, investment analysis, portfolio management, and more. 

An MBA course is right because it offers a more flexible course curriculum. However, students who are seeking a career specifically in finance can opt for master's in finance. There is no right or wrong; it all depends on the needs and requirements of the individual.

Both of these courses are postgraduate degrees in the field of management. However, an MBA is mostly a degree program offered by universities, while PGDBA is a postgraduate diploma provided by B schools/institutes.

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Phd after mba.

No logo Blog Cover .png 04 Baibhav Ojha PhD After MBA

PhD Courses after MBA offer an opportunity to specialise and research in a particular topic and to pursue a career in academia and research as well as in corporates. While there are only a handful of students who take up this route, it is highly rewarding both in terms of remuneration and designation. Further, owing to the research-oriented expertise in particular fields, PhD holders are also offered positions in various research organisations, think tanks, government departments [in policy making], etc. In this article, we shall present and elaborate in brief, the several PhD courses after MBA available for candidates.

PhD after MBA: Key Points

The following table lists the key fundamental points related to the PhD Course for MBA .

  • PhD Programs for MBA Graduates are undertaken under a supervisor/professor who belongs to the same field and holds expertise in the area the student wishes to pursue his/her PhD.
  • Typically, PhD Courses For MBA Students takes anywhere between 3-6 years to be completed, it may extend beyond that as well.
  • The structure of PhD Courses For MBA Students consists of rigorous coursework in the first 2 years, after which the candidate focuses on preparation of his thesis and dissertation. In the earlier stage, the candidate also performs literature review, research and analysis, etc.
  • During the latter phase, he may be required to perform field work, laboratory experiments, case studies, surveys, etc.
  • Throughout PhD Programs for MBA Graduates, the candidate may have gain expertise over research methodologies, statistical and mathematical tools, probability, software, etc.

Benefits of PhD after MBA

There are significant benefits of PhD after an MBA provides you not least a pedestal for a fruitful career in research, academics and further in policy-making, administration and corporate sector.

  • An Environment of Pursuing Research: In a PhD Course for MBA Students, you will take up certain topics from management, finance, operations, business analytics, communication, etc. Them, with the help of tools and resources and under guidance from a supervisor, you aim to research and come up with some new insights and explanations. You will be able to take advantage of state-of-the-art research facilities and resources.
  • A Settled Career Academics: PhD scholars after completing their degrees are hired as research associates, research assistants and professors and move onto research-oriented jobs such as research assistants, research associates, professors, post-doctorates, etc., after completing their PhD giving them a solid backing in the academic field. Many take up professorships after 5-10 years in the industry as consultants, advisors, head of various bodies.
  • International Collaboration: Institutions and Organisations regularly work together with other accomplished researchers and organisations through research programs, short courses, workshops, conferences, exchange programs, research internships, assistantships, etc. and provide research output as well as build a global network. Moreover, you will get a chance to learn from your peers and travel extensively as well during PhD Courses For MBA students.
  • Financially Rewarding: One of the major Benefits of PhD After MBA is that research programs reward research scholars handsomely through fellowships, scholarships, etc. In India, the JRF and Maulana Azad Fellowships are two popular ones. Moreover, project-based funding is also widely available
  • Corporate Sector is Always Open: After completing PhD Programs for MBA , candidates have developed a high degree of research and academic insight which is always in high demand in  companies to work out plans and policies. This includes scaling up of a business, situational decision making, problem-solving, critical analysis, awareness of the newest trends, etc. These positions are in constant touch with top-level management and have a strong hand in the realisation of the company’s goals and objectives.
  • Significant Requirement in Policy Making: PhD Courses after MBA prepare scholars for policy-making jobs at policy-making bodies of the government and other think tanks. They are invite and collaborate with PhD scholars to provide in-depth analysis and insights in policy-making issues. This can be related to anything from understanding the loopholes in the stock market to making the real estate industry more transparent.

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There are many different types of PhD programs you can choose to pursue after completing your MBA . Depending on your MBA specialization, you may want to consider a PhD in business, economics, or even a related field such as sociology or psychology. No matter what field you choose, a PhD will give you the opportunity to conduct research at the highest level, teach at the collegiate level, and consult with businesses and organizations. Let’s dive into various PhD course options post the following MBA specializations:

PhD Courses after MBA HR

Phd courses after mba finance, phd courses after mba marketing.

PhD Courses after MBA Operations

PhD after MBA in Canada

Home page Link Baibhav Ojha PhD After MBA

  • Course Offerings of PhD courses after MBA HR:
  • PhD courses after MBA HR are usually offered in labour relations, industrial relations, employee satisfaction, turnover and retention, training and development, leave policy, minimum wages policies, promotion and transfer , etc. Other broader topics include organisational behaviour, decision making , etc.
  • Course offerings of PhD courses after MBA Finance:
  • PhD courses after MBA Finance dives deep mechanics of the finance field concerning themes such as risk management, insurance, stock markets, regulatory practices, international markets, trends in financial markets of countries, different financial instruments , etc.
  • Career options of PhD after MBA Finance include positions on Financial Advisory Boards, Financial analyst, academia and research organisations, think tanks, consultancies, public accounting firms, amongst others.
  • The curriculum of a Finance PhD course for MBA students involves a good blend of theoretical knowledge and practical implementation through case studies, research projects, etc.
  • PhD Subjects after MBA in Finance: Here are a few PhD Subjects after MBA in Finance you must take note of-

Note: These PhD Subjects after MBA in Finance must be taken as an example only. Actual subjects may vary depending on your course.

  • Course Offerings of PhD courses after MBA Marketing:
  • PhD courses after MBA Marketing involves research into the subject of marketing, that is, digital marketing, market research, business analytics, feasibility and viability marketing tools and resources, advertising, marketing campaigns, customer relationship management, grievance redressal, case studies , etc.
  • In addition to academic and research positions like professorships and assistantships, PhD scholars also move into organisations on executive roles to oversee marketing, advertising departments.

PhD After MBA in Operations

  • Course Offerings of PhD after MBA in Operations:
  • In PhD After MBA in Operations, you will tackle topics such as logistics, quality and inventory management, project execution and control, measurement and evaluation, consumer behaviour, trends in operations management, global operations, case studies , etc.
  • Operations PhD Programs for MBA Graduates open up gates towards progressing towards the top level of management ladder in the corporate sector as well academic research in various universities, governmental arms and research organisations.
  • Further, there are various positions of advisors and consultants who are regularly in touch with governments for inputs on various issues.
  • One of the most popular study abroad destinations in the world, PhD after MBA in Canada offers industry-leading research facilities and resources.
  • Home to top institutions in the world, it provides greater opportunities for collaboration and cooperation for PhD after MBA in Canada.
  • Canada’s university ecosystem is a major driver of research output in the country, second only to the private sector.
  • Here are a few of the highly appreciated courses of PhD after MBA in Canada you must take a look at.

Coaching page link Baibhav Ojha PhD After MBA

How costly is it to study for a PhD after MBA in Canada?

The Tuition fees of various universities vary according to the location, course objectives and other factors. Typically, the tuition fees for international students is higher than that of domestic students.

The University of Toronto’s Rotman School of Management charges the same for international as well as domestic students for its PhD program

The University of British Columbia, in comparison, charges USD $5,760 annual for its PhD program. Similarly, PhD tuition fee at the University of Manitoba is USD $7,700 per year.

Scholarships for PhD Courses after MBA in Canada

Although tuition fees are high for PhD Programs for MBA in Canada, there are many available scholarship/fellowships/grants options that help in reducing the cost of living considerably. Take a look at the official websites for authentic funding opportunities. Some popular ones are:

  • The University of British Columbia Four Year Doctoral Fellowship
  • Vanier Canada Graduate Scholarships
  • The Pierre Elliott Trudeau Foundation Doctoral Scholarship

PhD courses after MBA Abroad: Eligibility

To apply for a PhD after MBA at foreign universities, you must follow certain fundamental guidelines, a few key ones have been enumerated in the given pointers. The below-mentioned guidelines may change as per the university, location, course structure and objectives.

  • Equivalent postgraduate degree in any relevant discipline, for instance, a Master’s in Business Administration in Marketing’ if you wish to pursue a PhD in Marketing. A relevant master’s degree is a string recommendation.
  • Minimum scores in qualifying postgraduate degree. Typically it follows a 10 pointer scale or 4 pointer scale.
  • GRE/GMAT test scores, if required. For a management-oriented course application, GMAT is highly recommended though GRE is also extensively recognized at many universities.
  • IELTS/TOEFL/PTE exam scores as confirmation of proficiency in the English Language. Obtaining an over 7+ band score is normally sufficient to be considered.

PhD Courses after MBA Abroad: Application Process

The primary admission cycle customarily begins in September/October and ends in February/March of the subsequent year. This is carried in phases of Early, Regular and Late Admission Rounds . If you are interested in a scholarship, apply in the early phase. There is other admissions cycles as well.

  • Narrow down your options according to the supervisor, university and career objectives. Pick three top level, three medium level and two low level [for backup] universities.
  • Satisfy the eligibility prerequisites as mentioned in the university guidelines [Supervisor Recommendation, Equivalent qualifying degree, relevant industry experience, etc.]
  • Research Proposal/Statement: This outlines the area and topic of research you want to pursue along with the names of the professors you wish to work under the guidance of. It is important that you select such professors after going through their work and whether they belong to your area of specialisation.
  • Submit GMAT/ GRE test scores together with IELTS/TOEFL/PTE scores [as required].
  • Application Set [Passport, Curriculum Vitae/Resume, Statement of Purpose/ Personal Statement/Statement of Intent, Writing Sample, Two/Three Letters of Recommendation, College Transcripts, Experience Letter (if required), Financial Support Statement/Funding Essay (if applying for scholarships/funding), etc.].
  • Letters of Recommendation must be from your professors, supervisors, etc. who attest to your skills, research intent and suitability towards the sought PhD program.
  • Pay Application Fee.
  • Next, you may be called for a Personal Interview/Group Discussion/Writing Task [if required]
  • After review, the application will be confirmed, waitlisted or rejected usually within 2-3 months of applying.
  • Pay the required Tuition Fees or Blocking Fees.
  • Submit Student Permit Application.

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Featured Researcher: Alex Petkevich

by Lorne Fultonberg | May 30, 2024

Alex Petkevich

Alex Petkevich

Each week, Daniels is featuring a researcher who conducts meaningful research that impacts their field and the wider community. Learn more about their work in Q&As with the Daniels Research team and email them to nominate yourself or a colleague for a future Q&A.  

Alex Petkevich is an associate professor in the Reiman School of Finance. His research interests are in empirical asset pricing, fixed income, derivatives and institutional investors, with a specific focus on market inefficiencies. His research has appeared in top scientific journals such as the Journal of Financial and Quantitative Analysis, Journal of Accounting and Economics, Journal of Banking and Finance, and Journal of Financial Markets.

He earned his PhD in finance and a master of science in mathematics from Texas A&M University. He previously taught at the University of Toledo, where he also served as a chair of the Neff Department of Finance.

What do you study? What got you interested in the field? My research focuses on traditional investments and theoretical finance, particularly asset pricing models. I have a background in mathematics, which led me to look into securities pricing and the behavior of different asset classes. Initially, I worked on theoretical models, but I transitioned to empirical testing to see how these models hold up in the real world, which often diverges from the theoretical “pure” world without imperfections like transaction costs and taxes. These divergences, or anomalies, are fascinating to explore, especially across different asset classes like equities, bonds, options and real estate.

What are you currently working on? Recently we have had this trend in the financial markets where we see an influx of funds to Exchange Traded Funds (ETFs). These are specialized products that represent indices and portfolios that can be traded like any other stock in the market. Moreover, many companies have started innovating and offering leveraged products on these ETFs. These products increase potential returns. However, they increase the risk as well.

The most famous example is, of course, an array of leveraged products that has been introduced on SPDR S&P 500 ETF Trust (SPY). For example, let’s take SPXL. This product amplifies the performance of SPY by three times. We would say that if the market goes up by 1%, then this particular new product will go up by 3%. But what will happen if the market goes down by 1%? Obviously, the leveraged product will go down by 3% as well because of the leverage. So, in this recent paper, we looked at leveraged ETFs and option trading activity, which are special contracts that give you even more leverage. Without getting too technical, we document that this special contract trading in the leveraged contracts is very informative, but you have to be very careful. It’s a double-edged sword—you can win a lot and you can lose a lot. It’s really important to have research behind all of this because we need to be able to regulate the market a little bit and make sure there are higher restrictions to get to this level of risky product.

What is the goal of your research?

The research is going to have direct policy implications, hopefully, to ensure that regulatory policies create fairer and more efficient markets, in particular, to protect the retail investor. This recent ETF paper has been picked up by a few agencies and hedge funds, so I think it’s creating a good discussion around how to regulate this trading behavior properly. In general, I want my research to enhance our understanding of financial markets and improve investment strategies.

Can you expand more on how you bring your work into the classroom?

My students are going to be finance professionals when they graduate, and go on to get their CFA designations and Series 7 licenses, etc. So for me, it’s very important that they have a solid background in the basics. My teaching is geared towards the case-based model and talking about real-world implications. I like to talk about Warren Buffett, who people tend to think has some kind of secret sauce in his investment strategies. What he’s doing though really isn’t a secret at all. He’s looking at safe companies where there’s a lot of profitability and a lot of cash but, at the same time, are undervalued, have good potential and low systematic risk. It’s a long-term strategy; you have to understand that you’re not going to beat the market every single year, but you’ll probably beat it after 10.

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MBA Karlo

PhD after MBA

Hi Uotians, I was not that excited about exploring PhD domain before I had a realtime conversation with the one who is already pursuing from IIM Kozhikode. There are tons of opportunities available once you pursue a PhD after MBA. Let’s explore more about Why PhD after MBA, Eligibility Criteria and Career Scope.

The following information is pertaining to the PhD after an MBA from India – specifically to IIMs. We will add more information about PhD after MBA from Abroad as well.

PhD after MBA in India

Why do a PhD after MBA?

After successful completion, the PhD program can open tons of opportunities in domains like academics, corporate, research, consulting, etc.

The jobs roles available are Management Consultant, Business Professor, Policy Analyst, etc.

Eligibility Criteria for a PhD after MBA

The scores of CAT 2018, CAT 2019 and CAT 2020 are considered valid for application to the PhD. Program in 2021.

Standard Test Score not required if an applicant is:

  • PGP Alumni of any IIM
  • PGPX/PGP-PMP Alumni of any IIM where such courses are offered

(Part-time/Distance Learning programs of IIM are not taken into consideration)

How to do a PhD after MBA?

  • The candidate must fit into Eligibility criteria as discussed
  • The candidate is required to take the CAT exam. The NRIs and foreign students can apply through GMAT.
  • The following table will help you understand the exams accepted instead of CAT

Stipend for PhD after MBA

  • The stipend for IIMs varies in the range of Rs. 30,000
  • The is an additional amount entitled that covers expenses of attending international conference or workshops, etc.

*We will be adding more information to this article, please post your questions in the comment section.

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Ph.D. After MBA Program Overview

PhD after MBA might sound new to you but its impact on a professional’s life has already created a history. After completing an MBA program in any domain in regular or online mode, you can apply for a PhD program. However, to become eligible for this course, you need to have a good score in some national-level entrance exams of GATE/UGC-NET/CSIR-NET. For a PhD abroad , you need to score well on the English level proficiency tests like TOEFL and IELTS and the entrance exam of GRE. In India, it takes around 5 years to complete a PhD program while abroad it ranges between 4 to 7 years.

percentage-change-in-number-of-phd-students-2017-2031

Among the top management universities in India, FMS New Delhi, IIMs, BHU, and IITs are some renowned ones offering PhD after MBA. They provide learners with a list of top specializations in the business field including PhD Finance, PhD Operation Management, PhD Marketing, PhD Human Resource Management, and many others.

Here are some key aspects that you must know about PhD after MBA: 

Making it easy for PhD after MBA aspirants, some foreign universities have launched an online version of it in the name of Doctor of Business Administration (DBA) online which also adds a “Dr.” title to your name in just 3 years and is equally credible as a regular PhD program in India. An online DBA is not offered by Indian universities as it is yet not approved by UGC but on completing it from an accredited foreign university, it will be completely recognized in the global industry.

Why Opt for a Ph.D. After MBA?

Completing an MBA will help you explore senior management positions in your functional domain but doing a PhD after MBA will bring new opportunities for you! It will help you climb up the organizational ladder and become a suitable fit for CXO positions. Based on the specialization you choose in your PhD program, you will have a variety of options not only in the business sector but also in the research and teaching fields. Above all, a PhD after MBA will increase your earning potential by multiple times which otherwise would take several years to achieve.

All of the above-mentioned benefits can also be explored with an online DBA program which is a more accessible and affordable version of PhD. Its entrance-free admission procedure and short duration of 3 years encourage a large number of candidates to opt for it.

Who Should Do a Ph.D. After MBA?

All fresh MBA graduates and working professionals serving any business domain can apply for a PhD program. The only restriction that is there is they need to clear the entrance exams with the minimum cut-off score to get admission to their desired university and specialization.

With an online DBA program, you have the liberty to apply for it after your graduation, and the best part about it is that you do not have to appear for any entrance exam. 

When To Do a Ph.D. After MBA?

If you are concerned about the age limit to apply for a PhD program, you must go through the age restrictions put on the entrance exams for it. For instance, for a UGC-NET exam (JRF), the maximum age limit is 30 years and on the other hand, a GATE exam has no specific age limit.

With an entrance-free admission process, an online DBA program makes all interested graduates apply for it at any age. This feature of the program has made even senior professionals apply for it.

Key Highlights of Ph.D. After MBA In India

  • Get recognized for your management expertise with a PhD after MBA program.
  • Opt for your choice of specialization in PhD after completing an MBA in online, regular, or distance mode.
  • Qualify for the UGC-NET or GATE Exam to take part in a reputed institute’s PhD program.
  • Choose your major from a long list of PhD specializations including Finance, Operation Management, Marketing, Human Resource Management, etc.
  • Develop a research-focused understanding of the business concepts and launch new methodologies for the betterment of the industries.
  • Earn a “Dr.” title with the completion of PhD from top management institutes like FMS New Delhi, IIMs, BHU, IITs, and others.
  • Jumpstart your career as a CEO, COO, and board of director upon completion of PhD after MBA.
  • Enjoy the benefit of completing your PhD at any age with no age capping.
  • Widen up your career chances in the research and teaching domain other than the business world with a PhD after MBA.

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Ph.D. After MBA Course Subjects/Syllabus

The course structure of a PhD program is research-oriented and focused on the industrial aspects of the business. The syllabus of PhD offered at IIM Ahmedabad is provided here to help you get an overview of the program. 

Top Specializations of Ph.D. After MBA

There is a long list of specializations available in PhD programs based on the domain you choose. Here is a list of top specializations that you can opt for in PhD after MBA.

All of the above-mentioned specializations are available in online DBA programs allowing you to opt for a domain of your choice.

Ph.D. After MBA Eligibility & Duration

The eligibility criteria to apply for a PhD after MBA include the following points:

  • A master’s degree in the related field from a UGC-recognized university or institution
  • A minimum of 55% marks or equivalent grades in the master’s degree
  • A good score in the entrance exams conducted for PhD program like NET, GATE, or any other university-specific exam
  • For PhD abroad, candidates need to pass English Proficiency Tests such as IELTS, TOEFL, etc.
  • A statement of Purpose (SOP), Letter of Recommendation (LOR), academic transcripts, and an updated resume are also needed for  PhD abroad
  • A good score on the GRE is needed for PhD abroad other than a master’s degree

To read the updated guidelines of UGC for undergraduate students, click here .

In case you want to skip these complications of understanding whether you are eligible for a PhD or not, go for an online DBA program that only demands a credible master’s or bachelor’s degree + work experience from an accredited university. 

The duration of a PhD after MBA in India takes around 5 years. However, if you are planning to do it from foreign, you will be able to complete it in 4-7 years. To complete it in an even shorter period of 3 years, you can opt for an Online DBA program.

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Program Fees for Ph.D. After MBA

Starting at ₹ 6,776/month

Program Fee: ₹60,000 - ₹2,50,000

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The fee package of the PhD program ranges between INR 15,000 and INR 5,00,00. This figure varies from university to university. If you have qualified for a PhD from a government institution like IGNOU or DU, your course will be completed under 1 lakhs. However, on going to a private institution, the cost of the program increases.

Online DBA programs are more expensive than regular PhD courses in India as these are offered by accredited international universities. It generally starts at INR 7 lakhs.

Ph.D. After MBA Admission Procedure

The admission process for a PhD program begins with filling out the application form for the national-level research entrance exams like UGC-NET, GATE, etc., or university-specific ones. After cracking these exams, candidates will have to appear for an interview wherein they will present their research proposal to the mentors of the university they have been selected for. On completing the paperwork and other documentation formalities for grants or stipends, candidates will be allowed to start with their research work.

With an online DBA, you will have a simple admission process that will not involve any entrance exam or interview. 

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Growth of Online Education in India

  • Online education in India is set to grow at a CAGR of 19.9% by 2030.
  • Skill development and employment are the major driving forces for this growth.
  • Higher education is gaining popularity in this online medium.
  • Financially affordability is a significant contributor to this boom.
  • The increased adoption of technologies, i.e., the Internet and smartphones, has increased accessibility significantly.
  • The advantage of flexibility in terms of time and location is the key highlight.

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Education Loan/EMI Facilities for Ph.D. After MBA

In general, the universities offering PhD programs do not have an EMI option in their fee payment method. However, to help students financially, some of them have developed an installment-based fee structure through which they can pay their fees in part. Moreover, you can avail of a debit card or credit card EMI facility if applicable at your chosen university.

In an online DBA course, you will have the option of an education loan which adds to the accessibility of this program by making you pay the fee in easy EMIs.

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Is Ph.D. After MBA Worth it?

If you wish to retire from a respected designation in your career, a PhD after MBA is something you should think about! After an MBA, you become eligible for the senior management positions but with a PhD, you get the chance to take charge of the business strategies and model as a CEO or COO of the organization. 

The research-focused learnings of the management concepts make you develop an innovative approach toward business issues. The choice of specialization in this highest degree program in the management field gives you the freedom to choose your domain. Upon completion of the PhD after the MBA, both your designation and the salary package increase by many folds. All of these offerings are also obtained after completing an online DBA after MBA. Thus, for a long-term and successful career, a PhD after MBA or an an online DBA after MBA is worth giving a shot!

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Job Opportunity after Ph.D. After MBA

Upon completing PhD after MBA, you not only earn a “Dr.” title but unlock some premium job designations that were not in your reach before. The career prospects that you have after a PhD will be the same after you complete an online DBA. Some of these job titles are listed below along with their annual package to give you an overview of the career prospects after a PhD/an online DBA.

Top Recruiters for Ph.D. After MBA

Top organizations in the business sector hire PhD candidates actively. These organizations admire the innovative way these PhD graduates use to tackle business issues. Their “out of the box” thinking puts them in the limelight for top recruiters globally. Online DBA holders also have a special place for top recruiters as their knowledge of global business trends adds significant value to their organizations.

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Let's clear up some doubts about Ph.D. After MBA

1 is phd after mba a good option.

Yes, getting a PhD after MBA adds new career opportunities to your list. It makes you climb up the organizational ladder to CXO positions and improves your salary package at the same time.

2 Which specializations can I choose in PhD after MBA?

There are numerous specializations available in the management domain of PhD for MBA graduates which include Finance, Marketing, Human Resource Management, Operation Management, and many more.

3 Which entrance exams are considered for PhD after MBA?

To qualify as a PhD candidate, you need to score well in UGC-NET, GATE, GRE, or other research-oriented entrance exams.

4 How long does a PhD after MBA take to complete?

In India, it takes around 5 years to complete a PhD but abroad, this period ranges between 4-7 years depending on your chosen university.

5 Can I do PhD after MBA without a master's?

As per the earlier UGC guidelines, online master’s degree holders with a minimum of 55% marks were eligible to apply for PhD but with the updated guidelines 4-year graduates with 75% marks can also apply for it.

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Ph.D After MBA in India: Courses List, Eligibility, Duration, Career Scope

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Mar 4, 2024

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Ph.D. after MBA in India attracts numerous students every year. Find more information about eligibility, courses list, duration, career scope, and much more.

Ph.D After MBA in India: Courses List, Eligibility, Duration, Career Scope

Ph.D. after MBA is a diversified course with various insights shared with the aspirants. The article below throws light upon various questions students would want to understand, right from Can I Do Ph.D. After MBA, to different Ph.D. courses in India and their criteria. The scope for the Ph.D. after MBA is very vivid and broader and helps in developing different skills as well.

  • What kind of specializations are available in Ph.D. after MBA
  • Ph.D. course duration after MBA
  • How to do a Ph.D. after MBA
  • Requirements for applying through Ph.D

Ph.D. After MBA in Distance Education

Benefits of ph.d. after mba.

  • Why Ph.D. After MBA is better option

Career Scope and Employment Sectors

Top colleges for ph.d. after mba, what kind of specializations are available in ph.d. after mba.

There are many specializations offered in Ph.D.which carry along with them great benefits. So check out the most preferred and most popular disciplines offered in Ph.D.:

  • Ph.D. in Commerce
  • Ph.D. in Computer Science
  • Ph.D. in Economics
  • Ph.D. in English
  • Ph.D. in Human Resource Management
  • Ph.D. in Philosophy
  • Ph.D. in Psychology

Other common Ph.D. Specializations after MBA

  • Ph.D. in Accounting
  • Ph.D. in Business Economics
  • Ph.D. in Chemistry
  • Ph.D. in Commercial Law
  • Ph.D. in Education
  • Ph.D. in Engineering
  • Ph.D. in Entrepreneurship
  • Ph.D. in Finance
  • Ph.D. in Healthcare and Management
  • Ph.D. in IT
  • Ph.D. in Marketing
  • Ph.D. in Operations
  • Ph.D. in Organizational Behavior
  • Ph.D. in Political Science
  • Ph.D. in Statistics

Ph.D. Course Duration after MBA

The duration of the Ph.D. course duration after an MBA varies from the research topics, methodologies, institutions chosen or the time being invested by aspirants. Most of the time, the course duration also depends on the kind of country students have chosen. On average the completion of Ph.D. courses takes about 4-5 years.

How to do a Ph.D. after MBA?

A Ph.D. after MBA is a career option that is dynamic and vast. The scope for the same is as well increasing. Ph.D. after MBA can be pursued after the completion of an MBA from a recognized university with a duration of two years. Aspirants need to choose their field of research and interest. There are various entrance exams that the aspirants need to take such as CAT, UGC NET and so on.

Requirements for applying through  Ph.D.

Though the specific prerequisites might vary from one university to another, there are some general criteria for a Ph.D. after MBA or any other postgraduate program that every candidate needs to fulfill. The primary requirement is that of a master's degree in the related discipline from a recognized institution in which one is applying for a doctoral degree; if you are using for a Ph.D. in Business Administration, you need to have completed a postgraduate course like, MBA, MIM, among others. Along with these, you will be required to submit the following documents.

  • English proficiency test scores, such as IELTS, TOEFL, etc.
  • SOP and LORs
  • GRE or GMAT scores
  • An Updated Resume or CV
  • Academic Transcripts

Many students start their work career after the completion of an MBA and so opting for Ph.D. after MBA in Distance Education is easier. There are various criteria institutes consider before admission. It is very important aspirants have completed their MBA from a recognized University(UGC). It's also necessary that the eligibility criteria be met depending on the institution chosen by the aspirants.

Before delving into the specifics of each Ph.D. after MBA program, we'll look at the benefits of a Ph.D. after MBA and why a Ph.D. after MBA is such a great career option.

  • Ph.D. after MBA allows you to conduct research and in-depth study of concepts and specializations that you would not have been able to do during your MBA.
  • MBA degrees provide lucrative career opportunities on their own, but after obtaining a Ph.D., MBA degrees become much more valuable.
  • The research conducted during a Ph.D. after an MBA raises awareness of new business insights and trends around the world, allowing for more efficient business management.
  • A person with a Ph.D. after an MBA can earn a good living. A top MBA College professor earns far more than an MBA degree holder.
  • Ph.D. after MBA allows aspirants to work in the field of research in management, finance, or business, distinguishing them from other managers who only pursue an MBA.

Why Ph.D. after MBA is Better Option?

A Ph.D. is a data-driven degree that involves extensive analysis and in-depth assessment as it consists of submitting a research thesis as it is the essential thing in the assessment element. If you have been planning to pursue a career in research, an MBA is more of a professional route to take but combining it with Ph.D. benefits you with the knowledge of both the corporate and research world.

What makes a Ph.D. after MBA the most popular option? The Doctorate of Philosophy program allows for in-depth knowledge in the specialization field. Research and the most importantly offers an opportunity to conduct independent study, which would otherwise only be limited to the more practical and commercially useful MBA degree. The research training provides an awareness of cutting-edge developments and evolving new insights and solving various problems. Doctoral graduates have years of experience in data analysis and data-driven decision-making; they are practiced with multiple research methodologies.

While most doctoral graduates find positions as faculty in reputable business schools, a fraction of them carry on in post-doctoral studies or head towards industry positions. 

Ph.D. after MBA can furnish you with the quintessential business understanding to fit the role of business consultants and analysts. 

As many doctoral scholars move further to become professors or researchers, only a small proportion of them head towards the industry. Listed below are some of the jobs that one can get after completing their Ph.D.:

  • Scientific Writer 
  • Assistant Professor
  • Research Assistant
  • Chief Research Manager 
  • Senior Professor 
  • Senior Consultant

Ph.D. has scope for working in diverse fields right from the automobile industry to the NGOs. The areas of recruitment are:

  • Chemical and Pharmaceuticals Industry
  • Oil and Gas Industry
  • Research Industry

So as now you are aware of the Ph.D. program, make sure you choose the best specialization that suits that motivates you to push further even harder. Make no mistake in selecting the specialization, so read thoroughly through the article and choose the best.

Some of the top colleges for pursuing a Ph.D. after MBA are listed below:

  • University of Calcutta
  • Amity University
  • Amrita University
  • Delhi University
  • Andhra University
  • Aligarh Muslim University
  • BITS Pilani
  • Manipal Institute of Technology

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MBA Access lets you establish a new GPA to meet the MBA admission requirements. It also gives those with only 12 months of work experience the opportunity to get started on an MBA while earning the required work experience for full-time admission. After completing the five MBA Access courses, you'll have earned a Business Fundamentals Certificate —a credential you can immediately add to your resume.

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If you've seen the Iowa MBA curriculum, these courses will look familiar. They're all part of the MBA core curriculum , and are part of every MBA student's plan of study. 

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  1. Is it Possible to Get My PhD After My MBA?

    What is the difference between a PhD and DBA? To answer the budding question: yes, you can pursue your PhD after earning your MBA, and choosing to earn a doctorate is entirely up to you and your aspirations. To help you better understand if getting a PhD is the right choice, we look at the path an MBA graduate can take to earn their PhD, one of ...

  2. PhD Programs

    Students in our PhD programs are encouraged from day one to think of this experience as their first job in business academia—a training ground for a challenging and rewarding career generating rigorous, relevant research that influences practice. Our doctoral students work with faculty and access resources throughout HBS and Harvard University.

  3. Best Online Ph.D. In Finance Programs Of 2024

    Though tuition rates vary widely among programs, total tuition for the best online Ph.D. in finance programs on our list averages around $45,000. To help fund your degree, you can apply for ...

  4. The 10 Best PhD Programs in Finance

    This is one of the best PhD in Finance programs you can do completely online. It aims to prepare students to address issues in business finance through research, best practices, and relevant literature. Courses: Managerial Finance, Investments & Derivatives, Business Valuation, etc. Credits: 60. Duration: 3 years average.

  5. Finance

    The field of finance covers the economics of claims on resources. Financial economists study the valuation of these claims, the markets in which they are traded, and their use by individuals, corporations, and the society at large. At Stanford GSB, finance faculty and doctoral students study a wide spectrum of financial topics, including the ...

  6. Doing A PhD After MBA: Universities, Programs, Benefits

    Professor /Lecturer. Academician. Chief Financial Officer (CFO) Chief Executive Officer (CEO) The salary of PhD after MBA in India is somewhere between INR 7 Lakhs to 17 Lakhs per annum depending upon whether you work in the corporate sector or explore the academic domain working as a lecturer or academician.

  7. Why PhD is a good option after MBA?

    PhD after MBA Finance is one of the topmost and popular specializations. The scope is vast and the opportunities endless. Though the subject may seem challenging, for those interested, it has a ...

  8. Can You Do a PHD After an MBA? Pros and Cons

    Ph.D. after MBA may provide a valuable leverage tool for your scientific job if you want to go deeper into any field of science, including technical or social science. In most instances, you obtaining a Ph.D. after MBA does not make sense. But in a few cases, Ph.D. after MBA may offer new opportunities. Let us analyze below when receiving a Ph ...

  9. How To Pursue A PhD After MBA?

    Aside from the prerequisite of having an MBA, the remaining qualifying conditions are as follows: 1. Excellent IELTS/TOEFL scores to demonstrate your command of the English language. 2. Depending on the university you intend to apply to, a GMAT/GRE score is required. 3.

  10. Should You Get An MBA In Finance? Here's What To Know Before ...

    Admission requirements for an MBA degree in finance vary among programs. To qualify for enrollment, students generally need a bachelor's degree in economics, business, statistics or a related ...

  11. PhD After MBA in India: Eligibility, Benefits, Salary, PhD Abroad 2022

    To pursue Ph.D. after an MBA in Commerce and Management, a candidate must hold a masters' degree, MBA, or MPhil with a minimum aggregate of 55%. Candidates can seek employment in leading sectors such as Finance, Management, Commerce, etc. with an average salary of INR 3,00,000 - INR 40,00,000. Program Name.

  12. PhD after MBA

    October 22, 2022 by MBA Crystal Ball. Education is a five-course meal with PhD as the ultimate dessert at the end of it all. Having said that, not all fields of study have had a long history of crowning a doctorate degree. It has traditionally been the highest degree in the sciences, and social sciences. Somewhere in the middle of the previous ...

  13. Top 7 Courses after MBA Finance in 2024 (With Highest salary)

    Top Courses to Pursue after an MBA Finance. Chartered Financial Analyst (CFA) The Chartered Financial Analyst (CFA)Program is a globally recognized and highly respected certification for finance professionals, administered by the CFA Institute. It focuses on investment management, including portfolio management, financial analysis, and wealth ...

  14. Unlock Financial Insights: Guide to Pursuing a PhD in Finance

    A PhD in Finance program can open up a variety of employment options for you and pave the way for a successful future. The following are some of the key justifications for choosing to pursue a PhD in finance: High income - A PhD in Finance graduate may expect to make between INR 4 LPA and INR 8 LPA in income on average. According to the website ...

  15. Doing a Ph.D. After MBA

    After MBA Finance. One of the topmost and popular specializations is a Ph.D. after MBA in Finance. The scope is vast, and the opportunities are quite endless. ... Following are some Benefits of PhD after MBA. Helps you become a better thinker: ... there are many options. The MBA course the candidate has done must be for the duration of 2 years ...

  16. MBA after PhD: Salary, Top Universities, Comparison

    MBA Vs PhD. Here is a table containing general differences between an MBA and a PhD. MBA. PhD. MBA is a Generalist Degree. Ph.D. is a Specialist Degree. MBA usually takes two year to complete full time. Ph.D. can take four years. MBA students will usually research a broad range of subjects.

  17. PhD in Finance Course, Subjects, Colleges, Syllabus, Scope, Fees

    Universities have a massive impact on Ph.D. in Finance fees. Colleges have their unique fee structure, which seems to be determined by the administration of the institution. Tuition at private institutions may be higher than at public universities. On average, a Ph.D. in Finance costs between Rs. 50,000 and Rs. 5,00,000.

  18. Top 10 Career Options After MBA in Finance

    10. Hedge Fund Manager. This is one of the best job options after MBA finance in India. Hedge Fund Managers are generally finance experts. They focus on managing the collective investments on behalf of the investors. The candidates seeking this job after MBA must have skills in financial analysis and management.

  19. Know Everything About PhD After MBA

    PhD after MBA: Popular Options 1. PhD after MBA Finance. A PhD after MBA Finance dives into the intricate details of the finance field concerning themes like risk management, stock market trading, regulatory practices, trends in financial markets of countries, different financial instruments, etc.

  20. PhD After MBA

    PhD courses after MBA Finance dives deep mechanics of the finance field concerning themes such as risk management, insurance, stock markets, regulatory practices, international markets, trends in financial markets of countries, different financial instruments, etc.; Career options of PhD after MBA Finance include positions on Financial Advisory Boards, Financial analyst, academia and research ...

  21. Featured Researcher: Alex Petkevich

    Alex Petkevich is an associate professor in the Reiman School of Finance. His research interests are in empirical asset pricing, fixed income, derivatives and institutional investors, with a specific focus on market inefficiencies. His research has appeared in top scientific journals such as the Journal of Financial and Quantitative Analysis ...

  22. PhD after MBA

    Eligibility Criteria for a PhD after MBA. Entry Qualification. Minimum Duration. Master's 0r Postgraduate Diploma. 2 years. Professional qualification - CA/ ICWA/CS with B.Com/Degree. 3 years. B.Tech./ 4 year Degree with 6.5 CGPA or equivalent. 4 years.

  23. PhD After MBA: Eligibility, Jobs & Salary, Fees

    Average Salary. INR 5-24 Lakhs. Making it easy for PhD after MBA aspirants, some foreign universities have launched an online version of it in the name of Doctor of Business Administration (DBA) online which also adds a "Dr." title to your name in just 3 years and is equally credible as a regular PhD program in India.

  24. PhD After MBA in India: Courses, Eligibility, Duration, Career Scope

    The duration of the Ph.D. course duration after an MBA varies from the research topics, methodologies, institutions chosen or the time being invested by aspirants. Most of the time, the course duration also depends on the kind of country students have chosen. On average the completion of Ph.D. courses takes about 4-5 years.

  25. Topics in Empirical Corporate Finance

    FIN7345 - Topics in Empirical Corporate Finance. FIN 7345 Topics in Empirical Corporate Finance (3 semester credit hours) Study of the methods used to empirically test corporate finance theories and/or models. May be repeated for credit as topics vary (6 semester credit hours maximum). Additional prerequisites may be required depending on the specific course topic.

  26. PhD Specialization: List, Admissions, Eligibility, after MBA, in India

    Candidates must have a master's degree or MPhil Degree in the area they want to specialize. PhD Specializations are available in various fields such as Science, Commerce, Humanities, Engineering and Technology, Law, Business Management, and so on. The average fees in India is INR 50,000-2,00,000. See more: PhD Admissions.

  27. MBA Access

    The five MBA Access courses are $2,250 per course, for a total of $11,250. After completing MBA Access, you'll have just ten Iowa MBA courses remaining to earn your degree. The tuition cost for Iowa MBA courses is the same as MBA Access: $2,250 per course. Please note: Students admitted through MBA Access are not eligible for financial aid ...