A Ph.D. in Management is a well-rounded course to equip students to foray deeper into the world of management and reach its pinnacle in a structured manner. Pursuing a PHD from an Ivy League is not just prestigious but also opens up a huge network for students globally.
Key highlights of pursuing a Ph.D. in Management abroad:
● Course Duration - 3 to 5 years. Year 1 and 2 would consist of coursework primarily. Year 3 and onwards will comprise a co-authored dissertation (student’s name + faculty’s name) and specializations.
● Specialization fields - Business economics, Finance, Healthcare Management, Operations, Strategy, Marketing, Accounting, Information Systems, Business and Public Policy, Entrepreneurship, and Organizational Behaviour.
● Acceptance Rate - 3 to 10% for Ivy Leagues
● Average Fees - $20,000 - $50,000/year. In most cases, financial waivers and scholarships are provided by the institution or the host country government due to the duration of the course or to promote cultural diversity among the batch by providing opportunities to international students.
Eligibility for Indian Students for a Ph.D. in Management abroad:
● A bachelor’s degree (equivalent to four years of study)
● A master’s degree (Optional, but good to have)
● GMAT/GRE scores (College dependent) Average GMAT scores of Ivy League cohorts range from 680 - 740 so scoring 700+ is ideal. Scoring a 320+ on your GRE is another alternate option.
● TOEFL/IELTS score (College dependent, some schools require it for International applicants but waivers can be availed if the medium of study was English.
● Updated Resume
● 2-3 letters of recommendation from previous employers or professors
● Education Transcripts
● 2-3 essays
● Statement of Purpose
Career Opportunities post a Ph.D. in Management abroad:
● Teaching is a sort of career most students prefer getting into. Mid-senior and senior roles in academia preferably B Schools or Management Institutes are lucrative.
● Students with Finance specializations have the option of joining the Big 4s [Deloitte, KPMG, EY(Ernst & Young), and PwC (PricewaterhouseCoopers)] as Financial Advisors or Consultants.
Top Colleges offering Ph.D. in Management courses:
● INSEAD - The only 2 continent program ( 2 equal status campuses in France and Singapore) with an exchange program in association with Wharton School. Full time course spread across 5 years.
● Harvard Business School - Offers upto 100% fully funded scholarships to deserving students
● Columbia University - The university is known for its culturally diverse entrepreneurial community.
● Yale School of Management
● Princeton
● Wharton School
● Cornell
● University of Pennsylvania
● Brown University
● Dartmouth College
Colleges offering fully funded Ph.D. Programs:
Students who receive full funding for Ph.D. Programs usually must complete a teaching apprenticeship with a faculty member which may include activities like writing research papers or dissertations. This would range between 16-20 hours/per week.
● MIT - Sloan School of Management
● Binghamton University
● USC (University of Southern California) Marshall
● Duke University
● Stanford University
● Rice University
● University of Pennsylvania
Most universities have a rolling application process but the best way to stay ahead of the game is to have your competitive exam scores such as GMAT/GRE handy.
So prepare well and give it your best!