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What Are The Advantages Of Completing Phd Courses In Management?
There are many benefits of completing phd courses in management. You can pursue a doctorate degree in a wide range of disciplines in management including business analytics and retail management. There is almost always a shortage of management professors, creating career opportunities in a wide range of fields. It is not just academia, you can also pursue lucrative career opportunities in other areas.
Explore the benefits of completing management phd programs for your future career prospects.
1. Teacher & Research
This is one of the most readily open and obvious career options for these completing a PhD program in management. You can seek career opportunities at both university and college levels. As a PhD student in various management disciplines, you will have to conduct original research that enhances knowledge in the specialized field. Among these benefits, you can expect some of the best remunerations in the industry.
You can pursue research and open up teaching opportunities for yourselves in different areas including:
• Human resources
• Quantitative analysis
• Information systems
• Operations management
• Retail management
And much more.
One of the advantages of pursuing this career field is that your annual teaching schedule lasts for 9 to 10 months. The rest of the time comprises of long breaks that can be used for pursuing other areas of interests. As an educator holding a PhD degree in your specialized field of management, you will be considered an expert.
2. High Demand for Management Educators
Not only is a career as a management professor lucrative, as mentioned above, it also ensures job stability. Management educators are always in high demand. And the contributing reasons are far more and far reaching than you can fathom:
• The economy continues to grow at a fast pace. As business grows, there is increased demand for management educators and specialists across the board.
• More students are enrolling in management courses than ever before. Most of these students are seeking to pursue lucrative careers in private sector, especially fueled by MNCs.
• There is already shortage of management faculty, and a significant percentage of it is retiring at a regular rate.
All these factors have significantly increased the demand for doctorate degree holders in specialized management fields.
3. Higher Average Income
There is shortage of management professors and research academicians. Besides, there is growing demand from different areas of the economy. Both these factors contribute to higher average salaries for PhD holders who want to pursue a career in academia or in the commercial employment sector.
You shouldn’t be surprised to find manage management professors beginning their career with six figure salaries. Besides, there are additional opportunities that further increase your income, with examples including seasonal teaching positions, authorships, consulting, and guest appearances among others.
4. Career Opportunities in the Commercial World
As already mentioned, the opportunities for post-graduate management degree holders lie in many sectors. This includes the business world too, where specialization in different fields is in high demand. For example, having pgdm in retail management can create endless opportunities for you in an ever-evolving retail sector. Having a post-graduate qualification in specialized management field can open up opportunities for you in areas like consulting and investment banking among others. You can also find the doors getting opened for you in government and international organizations such as the IMF, WTO, and various planning bodies.
Thus, there are many reasons for completing a post-graduate degree and pursuing a doctorate degree in management. It is highly recommended to choose a specialized field such as pgdm in business analytics that is in greater demand. It can help you choose more lucrative career opportunities.
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