phd vs mba reddit

MBA vs PhD – Which advanced degree is better?

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

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

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

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

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

MBA VS PHD – the debate

A quick summary of a PhD vs MBA:

What Does a PhD Get You? Pros and Cons

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

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

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

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

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

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

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

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

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

Should you earn an MBA instead for the business world?

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

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

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

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

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

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

Is an MBA equal to a PhD and doctorate?

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

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

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

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

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

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

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

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

So What’s Better, a PhD or MBA?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

MBA vs PhD Career Options

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

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

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

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

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

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

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

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

Wrapping Up

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

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

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

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

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

Thank you for visiting Academia Insider.

We are here to help you navigate Academia as painlessly as possible. We are supported by our readers and by visiting you are helping us earn a small amount through ads and affiliate revenue - Thank you!

2024 © Academia Insider

Stack Exchange Network

Stack Exchange network consists of 183 Q&A communities including Stack Overflow , the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

Q&A for work

Connect and share knowledge within a single location that is structured and easy to search.

Is it useful to do an MBA after PhD?

I have heard of people who have gone on to pursue an MBA after their doctorates. What are the advantages/downsides of this?

Wouldn't the companies recruiting them after MBA value their doctorate experience less compared to the experience gained at an MNC? Is there a risk of them being valued as "failed" doctorates?

• graduate-school
• business-school

• 6 MBAs and PhDs are two different things. If you want to run a business, do an MBA. –  Dave Clarke Commented Jun 1, 2012 at 8:24
• It really depends on the degree and what you ultimately intend to do... What do you plan to get your PhD in, and how do you plan to use an MBA as part of your future plans? –  Paul Commented Jun 2, 2012 at 14:13
• 1 Nature just had an article about it: nature.com/naturejobs/science/articles/10.1038/nj7523-523a –  Gimelist Commented Nov 4, 2014 at 22:39

4 Answers 4

There are several cases where PhDs do an MBA. Some of them are:

• Bored of research as a whole.
• Irritation with academia and poor scope in Industry.
• Want to earn money.
• For furthering responsibilities at the university where one is a professor. If you do some looking around, a high amount of Deans to have an MBA along with a PhD.

No degree ever goes waste. Most people with PhD and MBA acquire director positions in companies.

• 26 "no degree ever goes waste" [citation needed] –  JeffE Commented Jun 2, 2012 at 5:43
• 1 "Most people with PhD and MBA acquire director positions in companies." That seems insanely hard to believe. –  xLeitix Commented Jan 4, 2014 at 16:07

A qualification regardless of level and field of study is never a waste, one needs to realize how to use it wisely and appropriately. As we navigate life we shift perspective and interests, our education choices therefore need to reflect this. Ph.D provides sound research focus, MBA provides sound business and leadership focus. The two combined is a great and electrifying combination.

• 4 A qualification regardless of level and field of study is never a waste — [citation needed] –  JeffE Commented Jan 3, 2014 at 17:08
• @JeffE I can indeed think of many examples where a qualification was indeed a waste. However, a (good) MBA is not usually one of those cases. –  xLeitix Commented Jan 4, 2014 at 16:06
• 2 Right. A good MBA is not one of those cases. But many (if not most ) MBAs are not good . –  JeffE Commented Jan 4, 2014 at 20:08

PhD = specialist in a subject, research skills, critical mind MBA = Broad generalist, management, problem solving

The focus and scope is not the same. Also like it was said most researchers who want to climb the ladder need to take the management track which often require an MBA. Put simply an MD is an MD but a hospital manager needs to be an MD and MBA.

Also to teach at a business school other than math or economics you normally need an MBA. Best is a Phd/MBA but while a lowly MBA can teach that is not usually the case for a PhD.

• If a person is smart they will market their experience during the acquisition of their PhD as also providing them with the problem solving and management skill sets. If you are going to be successful in research or business these are good things to have. –  ryetochondria Commented Nov 5, 2014 at 1:10

You must log in to answer this question.

Not the answer you're looking for browse other questions tagged phd graduate-school masters business-school ..

• Featured on Meta
• We spent a sprint addressing your requests — here’s how it went
• Upcoming initiatives on Stack Overflow and across the Stack Exchange network...

Hot Network Questions

• Typical password generator in Python
• Problem computing a limit
• Who is ??? In Cult of the Lamb?
• Upgrading SQL Server Express 2008 R2 that seems to be tied with SQL Server Standard
• Car stalls when coming to a stop except when in neutral
• French Election 2024 - seat share based on first round only
• Can a festival or a celebration like Halloween be "invented"?
• Keyboard Ping Pong
• Distorted square wave
• Error concerning projectile motion in respected textbook?
• Does there exist a nontrivial "good" set?
• Why does King Aegon speak to his dragon in the Common Tongue (English)?
• The meaning of "tarmac ticket"
• Is "double-lowercase-L" a ligature (Computer Modern Italic)?
• Go the Distance
• Why does Macbeth well deserve his name?
• o y u (or and or)
• Is it an option for the ls utility specified in POSIX.1-2017?
• Are the North Star and the moon ever visible in the night sky at the same time?
• Does 誰と mean 誰とも?
• USB Data communication issue on a panelized pcba hardware test platform
• What does "I'll do, I'll do, and I'll do" mean?
• In the travel industry, why is the "business" term coined in for luxury or premium services?
• Switching Tenure-Track Positions Within Same University

• Application Deadlines
• Tuition and Financial Aid
• How to Apply
• MBA Careers
• MSBA Careers

Discover Your Next Step

Mba vs. phd: choose your advanced degree path.

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

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

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

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

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

How can a PhD help you in the business world?

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

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

Should you earn an MBA instead?

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

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

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

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

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

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

Find your purpose with Seattle University’s Online MBA.

The Online MBA program at the Albers School of Business and Economics is a versatile, flexible degree designed for working professionals who want to advance in their careers and grow as both a person and a professional. Find out how our curriculum is uniquely structured to help you develop into a true leader who is prepared to face any challenge the business world can throw at you.

Return to Blog

Seattle University has engaged Everspring , a leading provider of education and technology services, to support select aspects of program delivery.

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

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

What Does an MBA Do

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

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

What Does a PhD Get You?

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

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

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

Debating the Pros and Cons of Each

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

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

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

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

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

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

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

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

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

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

Impactio Makes Publishing Easier

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

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

• Afghanistan
• Åland Islands
• American Samoa
• Antigua and Barbuda
• Bolivia (Plurinational State of)
• Bonaire, Sint Eustatius and Saba
• Bosnia and Herzegovina
• Bouvet Island
• British Indian Ocean Territory
• Brunei Darussalam
• Burkina Faso
• Cayman Islands
• Central African Republic
• Christmas Island
• Cocos (Keeling) Islands
• Congo (Democratic Republic of the)
• Cook Islands
• Côte d'Ivoire
• Curacao !Curaçao
• Dominican Republic
• El Salvador
• Equatorial Guinea
• Falkland Islands (Malvinas)
• Faroe Islands
• French Guiana
• French Polynesia
• French Southern Territories
• Guinea-Bissau
• Heard Island and McDonald Islands
• Iran (Islamic Republic of)
• Isle of Man
• Korea (Democratic Peoples Republic of)
• Korea (Republic of)
• Lao People's Democratic Republic
• Liechtenstein
• Marshall Islands
• Micronesia (Federated States of)
• Moldova (Republic of)
• Netherlands
• New Caledonia
• New Zealand
• Norfolk Island
• North Macedonia
• Northern Mariana Islands
• Palestine, State of
• Papua New Guinea
• Philippines
• Puerto Rico
• Russian Federation
• Saint Barthélemy
• Saint Helena, Ascension and Tristan da Cunha
• Saint Kitts and Nevis
• Saint Lucia
• Saint Martin (French part)
• Saint Pierre and Miquelon
• Saint Vincent and the Grenadines
• Sao Tome and Principe
• Saudi Arabia
• Sierra Leone
• Sint Maarten (Dutch part)
• Solomon Islands
• South Africa
• South Georgia and the South Sandwich Islands
• South Sudan
• Svalbard and Jan Mayen
• Switzerland
• Syrian Arab Republic
• Tanzania, United Republic of
• Timor-Leste
• Trinidad and Tobago
• Turkmenistan
• Turks and Caicos Islands
• United Arab Emirates
• United Kingdom of Great Britain and Northern Ireland
• United States of America
• United States Minor Outlying Islands
• Venezuela (Bolivarian Republic of)
• Virgin Islands (British)
• Virgin Islands (U.S.)
• Wallis and Futuna
• Western Sahara

• About WES Home
• Get an Evaluation
• International Students, Immigrants & Job Seekers
• Evaluations & Fees
• Required Documents

WES Advisor Blog

• Degree Equivalency
• WES iGPA Calculator®
• For Refugees & Displaced Persons
• WES Gateway Program
• Institutional Professionals
• Higher Education
• Licensing Bodies
• Tools for Partners
• WES Global Talent Bridge®
• IMPRINT Coalition
• Skilled Immigrant Integration Program
• Global Talent Leadership Network
• WES Global Talent Bridge® Blog
• Global Higher Education Institutions
• Training & Events
• Philanthropy
• About the Fund
• Partner with the Fund
• Insights Blog
• World Education News & Reviews
• Research Reports
• WES Global Talent Bridge Blog
• WES Mariam Assefa Fund Blog
• Important WES Notices

Trusted Advice for Academic and Professional Success

Salary Difference Between Master’s and Ph.D. Degrees

Tuesday | July 22, 2014 | by Xiao Lu

When undergraduates are thinking about studying abroad for an advanced degree in the U.S., they have two options: apply to a master’s degree or doctoral degree program. Here we will talk about the differences between master’s and Ph.D. degree programs and also compare the lifetime earnings of both degrees in respective occupations.

What Are Master’s Degrees?

A master’s degree is the first level of graduate study designed to give you a solid education in a specialized field after you finish a bachelor’s degree. It usually requires one to two years of full-time study. Master’s degrees tend to be a more career-oriented program. Upon completion, graduates are expected to have advanced knowledge within a specialized field and have analytical, evaluation, and professional application skills. One disadvantage is that there are limited scholarships for international students who are master’s candidates in the U.S.

What Are Ph.D. Degrees?

Ph.D. is an abbreviation for Doctor of Philosophy, which is a doctoral degree. Obtaining a Ph.D. degree means you have an exclusive specialty in your field. Ph.D. candidates are expected to engage in thought experiments, reason about problems, and solve problems in sophisticated ways . Students can apply for a Ph.D. program directly after completing a bachelor’s degree, while some schools also require a master’s degree before entering a Ph.D. program. The exact number of years varies from four to eight years, which highly depends on the field, the student’s research topic, and the student’s skills. A Ph.D. degree also requires students to pass comprehensive exams and a large scholarly project called a dissertation .

For international students, financial aid opportunities might be a big motivation to apply for a Ph.D. degree. Schools recognize that those trying to acquire their doctoral degree need more assistance due to the length of study.

Salary Differences Between Master’s and Ph.D. Graduates

After looking at the different commitments the two degree programs require, you may also want to look at the average salaries for master’s and Ph.D. graduates. Below is an income chart from the United States Census Bureau about employee’s work-life earnings that refer to different occupations and education levels attained.

Note: This chart is for 25 to 64-year-olds who are working full-time, year-round. Source: www.census.gov

Overall, the average life earnings of doctorate holders are higher than other degree holders within the same industries. However, the life earning gap between master’s and Ph.D. holders varies on different majors or fields of study. For example, in biological science occupations, a Ph.D. holder earns 27 percent more than that of a master’s holder. Whereas in some other fields, such as business, there is only a small difference of 8 percent.

If you are looking for ways to improve your career, obtaining an MBA degree may be worthwhile financially as graduates receive similar work-life earning as Ph.D. graduates. But if you’re looking to pursue a Ph.D. degree within a highly focused field, then check out the top 50 U.S. colleges with the most international graduate students.

So, consider pursuing a Ph.D. degree if you truly love your field, enjoy your studies, and want the benefits and prestige associated with the doctoral degree. If you are looking for a change in field, industry, or a promotion, then getting your master’s might be enough.

Do you want to further your education and need funding? Check out our free Funding Your Education e-guide.

Xiao Lu is a Marketing Associate at World Education Services.

Have a language expert improve your writing

Run a free plagiarism check in 10 minutes, generate accurate citations for free.

• Knowledge Base
• Applying to graduate school
• Master’s vs PhD | A Complete Guide to the Differences

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

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

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

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

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

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

Table of contents

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

The table below shows the key differences between the two.

Receive feedback on language, structure, and formatting

Professional editors proofread and edit your paper by focusing on:

• Academic style
• Vague sentences
• Style consistency

See an example

A PhD is right for you if:

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

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

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

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

Length of a master’s

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

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

Length of a PhD

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

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

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

Careers for master’s graduates

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

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

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

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

Careers for PhD graduates

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

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

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

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

• Computer Science
• Lab Sciences

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

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

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

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

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

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

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

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

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

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

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

Cost of a master’s

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

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

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

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

Cost of a PhD

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

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

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

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

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

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

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

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

Applying for a master’s

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

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

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

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

Applying for a PhD

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

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

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

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

College essays

• College essay examples
• College essay format
• College essay style
• College essay length
• Diversity essays
• Scholarship essays

Academic writing

• Writing process
• Avoiding repetition
• Literature review
• Conceptual framework
• Dissertation outline
• Thesis acknowledgements
• Burned or burnt
• Canceled or cancelled
• Dreamt or dreamed
• Gray or grey
• Theater vs theatre

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

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

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

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

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

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

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

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

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

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

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

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

Cite this Scribbr article

If you want to cite this source, you can copy and paste the citation or click the “Cite this Scribbr article” button to automatically add the citation to our free Citation Generator.

Thomas, L. (2024, May 09). Master's vs PhD | A Complete Guide to the Differences. Scribbr. Retrieved July 10, 2024, from https://www.scribbr.com/graduate-school/masters-vs-phd/

Is this article helpful?

Lauren Thomas

Other students also liked, when to apply for graduate school | month-by-month timeline, how to write a statement of purpose | example, how to write a graduate school resume | template & example, get unlimited documents corrected.

✔ Free APA citation check included ✔ Unlimited document corrections ✔ Specialized in correcting academic texts

More From Forbes

Phd vs. mba: which is more valuable for an entrepreneur.

• Share to Facebook
• Share to Twitter
• Share to Linkedin

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

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

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

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

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

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

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

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

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

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

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

• Editorial Standards
• Reprints & Permissions

MBA vs. Ph.D.: The Important Career Differences Explained

Choosing between MBA vs. Ph.D. can lead to a significant decision in your life and career. As an MBA with few Ph.D. friends, I will provide you with several critical hard truths in this article. I think you should know them before making final decision.

MBA and Ph.D. degrees are not equal. MBA was designed to train managers, and Ph.D. was created to train researchers and scientists. A Ph.D. generally is regarded as an academically higher accomplishment than MBA, but MBA is a quicker way to practical work and career. 

To understand the MBA vs. Ph.D. comparison, we need to do some industry analysis. Then, we will employ some useful MBA and Ph.D. salary statistics and investigate several other vital factors often overlooked by prospective students. Let’s start.

Study Micro-MBA And Law Courses. Plus, Earn Money With Our Program – Money Earning Opportunity. Our individual MBA and law micro-courses start with $9.99!

Is MBA equal to a Ph.D.? 

MBA stands for master’s in business administration degree. Ph.D. stands for a doctor in philosophy. While both MBA and Ph.D. in business study business topics, they are very different degrees.

In terms of equality in a dispute between MBA vs. Ph.D., Ph.D. is the clear winner. 

Whether MBA is equal to a Ph.D. depends on how society and industry view both degrees. MBA vs. Ph.D. is entirely different.

MBA is not equal to a Ph.D. (doctorate) in any way, shape, or form. MBA is a graduate professional master’s degree, while a Ph.D. is a post-graduate research academic degree. 

Ph.D. is still regarded higher than MBA for many reasons, including deepness of study and research required for Ph.D. students. In addition, Ph.D. is the most advanced degree one can obtain in any field in the USA. 

MBA was designed to train managers who can manage the human and material resources of the company. Managers must make business decisions, recognize trends, have a vision. MBA manages processes, sometimes exploiting gut feeling based on experience, or works as analyst. 

Ph.D. was designed to train researchers and scientists who research and analyze data to extrapolate trends. Ph.D.’s recognize problems, and figure out solutions to them based on complex data instead of gut feelings. 

Companies and the public generally regard a Ph.D. as significantly more advanced than a master’s degree, including MBA. PhDs are considered subject experts and authorities on the topic of their Ph.D. research. 

There are many more MBA than business Ph.D. graduates each year. MBA is a commodity nowadays, while a Ph.D. in a business topic is still a unique qualification. 

The caveat is that an elite business school MBA is still more likely to be regarded higher than a Ph.D. from a low-ranking business program. 

Is MBA harder than a Ph.D.? The difficulty of MBA vs. PhD

Between Ph.D. and MBA, Ph.D. is more complicated. Ph.D. in business is harder to obtain degree compared to MBA. 

MBA is shorter, and students can complete a full-time MBA program in 2 years or less. Ph.D. may take longer than 5-7 years to complete. 

You should look at those years of studying as an opportunity cost.  Meaning, you lose the opportunity to get a job and work on your regular business industry career because you are pursuing MBA or Ph.D. instead.  

MBA is a general overview of most common business areas, and MBA students primarily learn about core business concepts in an overview form. 

The curriculum for most business MBA subjects has pretty much been established. Thus, MBA students have more structured studies with understandable steps, goals, and expectations.

As a result, MBA does not involve too much math and is generally straightforward on most occasions. 

On the other hand, Ph.D. is a narrow, intense, and deep research focused on a specific aspect of an area of the business subject.

Ph.D. research focuses on some unique and new theory or part of the previously not so profoundly researched business topic. Ph.D. in business often involves lots of math. 

Essentially, a Ph.D. is a deep immersion into unknown and unresearched theoretical depths of business. And if Ph.D. is in statistical, financial, economics, or some mathematical areas of business, then Ph.D. students must perform a heavy volume of advanced mathematical calculations.  

Plus, the Ph.D. program has much higher knowledge and analysis expectations from its students compared to MBA.

In a Ph.D. in business, a researcher spends multiple years studying, analyzing, and interpreting various data and extrapolating trends, rules, consistencies, and conclusions. 

Ph.D. work must prove a new point or theory by supporting it with heavy volume or research and plenty of arguments. MBA students do not have to do it. 

Usually, a Ph.D. must complete two years of coursework, teach for a couple of years, and then write a dissertation within another 1-3 years. So, Ph.D. can take seven years to complete. 

Ph.D. requires more heavy volume work than MBA. 

Which degree is better, MBA or Ph.D.? Is an MBA or Ph.D. better?

What is better – MBA vs. Ph.D. – is a very tough topic because Ph.D. is narrowly focused on some aspect of business, while MBA simply is an advanced overview of many business topics. 

Which degree is better, MBA or Ph.D., depends on personal goals.  MBA is better if one wants to obtain a degree and start looking for a job sooner.  MBA is more like a sprint.

But if someone wants to get into academia and teach or spend many years researching a specific topic and become a super-focused specialist, then Ph.D. is better. Obtaining a Ph.D. is a challenging marathon rather than a sprint. 

The MBA vs. Ph.D. outcome also depends on the rank of the business school where MBA or Ph.D. students obtain their degrees.

Either MBA or Ph.D. from elite top business schools like Harvard, Stanford, Yale, Wharton, or Columbia will be in demand, and good quality employers will be happy to hire such graduates.

On the other hand, neither MBA nor Ph.D. from low-ranking business schools by themselves will not result in a good job.

Except for when such MBA graduate either has previous relevant work experience or can obtain additional skills after MBA to become more marketable. 

Ph.D. in quantitative disciplines like finance, economics, or statistics, even from low-ranking business school may find a job as an analyst because of hard quantitative skills. But such a Ph.D. should not expect a high starting salary. 

MBA vs. Ph.D. and Employment Decisions

One note about MBA is as follows. While it limits employment opportunities, it is still a general degree that can lead to different career paths unless a person chooses some strong MBA specialization or concentration. 

Usually, MBAs are considered generalists suitable for entry-level or middle managerial positions, depending on their previous work experience.

However, MBAs without work experience may have a hard time finding jobs and may face the necessity to obtain additional skills or even more education to become employable. 

On the other hand, MBA is sufficiently enough for those who simply want to jump into a practical application of MBA knowledge by working in the business world.

MBA is better for an entrepreneur than Ph.D. because MBA has a more significant focus on practical aspects of managing and running a business. 

Ph.D. essentially limits employment opportunities even more than MBA. The limitation of job opportunities is inherent in the narrow-focused nature of Ph.D. research.

For example, doing a Ph.D. in finance or economics essentially narrows down employment opportunities to areas of finance or economics. 

On the other hand, a Ph.D. is considered an expert researcher in the chosen business topic. Still, most PhDs work in academia or research institutions and not in real-life business positions. 

Besides open teaching careers in education, some companies may want to hire such Ph.D. in analytical, consulting, or managerial positions because they understand that they have deep knowledge of business theory and practice. 

Ph.D. and MBA salary. Who earns more MBA or Ph.D.?

Mba salary statistics.

Let’s talk about Ph.D. and MBA salary and who earns more – MBA or Ph.D. I want you to take this statistical information about pay and who makes more with the grain of salt. Because average numbers must be interpreted only as average among a large pool of MBA’s or Ph.D.’s.

Some MBAs or PhDs earn more and change average numbers, but others will make less. You need to understand that media, academia, and everyone else interprets numbers in their self-serving way. 

College associations publish that $80,000-$90,000 is the average starting salary for MBA in 2020-2021. But that MBA salary number does not include those who dropped off the labor force because they could not find the work. And that salary number is affected by graduates from elite business schools who earn high salaries. 

A graduate from the Stanford MBA program, for example, may expect up to a $100,000-$225,000 average annual salary per year plus bonuses and benefits. Often that graduate already had prior successful business work experience to land a position in a good company. 

Example (hypothetical): 9 PhDs or MBAs get a $30,000 annual salary after graduation. 1 Ph.D. or MBA receives $200,000. What is the average wage among this pool of 10 graduates? That’s right. It is $47,000. 

OK, for starters, you would think by looking at the average. But nobody from the pool gets this salary. Most get only 30K per year. So, therefore, all the numbers out there are misleading. 

The Problem With MBA Salary Statistics

The majority of statistics focus on graduates from the top 100-150 business schools. That data is not representative because, in the USA alone, whooping 1190+ MBA programs are producing about 200,000 MBAs each year.

Even though about 9% of MBA programs in the US were shut down after 2014 for lack of enrollment, so many MBA programs remain. And only 132 of those business schools provided those earning numbers. 

And what about the other 1000 MBA programs which never supplied their statistics? They were not counted, so elite high-salaried MBA programs statistically swayed away average post-graduate salary upwards, and numbers look deceptively better than they are.

Still, some data suggests that the average salary for MBAs graduating from lower-ranking MBA programs is about $52,000 annually. I estimate the post-MBA salary average range to be from $50,000 to $70,000 annually. And that is with several years of previous relevant work experience.

Otherwise, MBAs will have to get an entry-level job with low pay and work their way up as professionals. 

And when MBAs graduate and cannot find a job, they are simply not included in salary statistics. For example, in 2008, there were about 100,000 MBA degrees awarded annually.

Now the number of graduates is closer to 200,000 each year. As a result, competition for jobs among MBAs is stiff.

But do not get discouraged. For those who have previous work experience and or can land a job after graduation, the average increase in salary for MBAs can be up to $20,000 compared to the average graduate with a bachelor’s degree in business (USA). Again, these numbers were affected by the earnings of elite MBA graduates. 

While that number does not seem like a huge jump, it adds up over the years. And with potential career growth, MBA salary prospects may be even better if you can find a relevant job after graduation.

In addition, fewer MBA enrollments mean less competition between MBAs in the future.  

Ph.D. Salary Statistics

Ph.D. statistics probably are more accurate because there are fewer PhDs in business produced each year. For example, there were only about 3630+ PhDs awarded in business areas in 2018-2019.  

In comparing Ph.D. and MBA salaries, we should also note that a Ph.D. degree still stands out compared to a commodity MBA with much fewer PhDs awarded.

So, who earns more, MBA vs. Ph.D.? When researching this blog post, I saw many cheerleading fantasy-world salary data in many different articles.

Unfortunately, it seems like some prominent media outlets either have no clue about the state of the job market in the real world, simply ignore it or focus only on some exceptional cases. So, I must extrapolate data piece-by-piece again. 

Well, Ph.D. was designed to work primarily in academia, and academia is not paying these days very much. First of all, a person pursuing a Ph.D. in academia usually makes around $30,000-$35,000 annual stipend. That is meager pay for 5-7 years of hard work. 

Not so many PhDs get into the business world doing practical work. So, for example, there is no need for a company to hire a Ph.D. in marketing when hiring an MBA with previous marketing or analytical work experience.

Let’s define which Ph.D. is beneficial. First, there is no doubt that Ph.D. in STEM majors can lead to a very lucrative salary. For example, browsing through job sites, I saw job postings where employers look for PhDs in robotics, AI, machine learning.

Employers are offering hundreds of thousands of dollars annual salaries because those are booming fields.

PhD Salaries After Graduation

PhDs in business do not enjoy such demand. Still, PhDs in various topics, on average, make more than 15%-20% salary upon graduation. Average Ph.D. may get anywhere from $50,000 to $120,000 or more annually, depending on the chosen field.

Social sciences pay the least, and math, analytics, or tech PhDs sometimes pay even more than $100,000 on average. 

Said that many starting salaries for PhDs on Payscale.com are as low as $44,000-$50,000, without experience. The lower-paying fields are education, human resources, some research institutions. 

The higher-paying fields for PhDs are where complex calculation and analysis are required – finance, economics, business analytics, statistics, and so on. Such quant PhDs starting as analysts can land anything from $70,000 to three figures, depending on the level of experience.  

Specifically, according to PayScale reports, Ph.D. in statistics or computer science may make over $100,000 annually.

On the other hand, ph.D. working as an analyst in operations, marketing, business research, probably realistically will make about $70,000-$90,000 annually upon graduation. 

Those PhDs who eventually make it into management generally will see three-figure salaries mid-career after 5-6 years of work. 

Conclusion about MBA vs. Ph.D. salaries. 

A significant problem with all these data, statistics, and attempting to figure trends is that the business world is now changing so fast that much of this data may be obsolete five years from now.

For example, Tech may replace whole industries with robots, and new high-paying industries may appear. So, this blog post intends to see the current situation in MBA vs. Ph.D. debate. 

Generally, Ph.D. in business does not yield a much higher salary than an MBA from one of the top 50 business schools unless Ph.D. is from an elite business school.

Pursuing a Ph.D. requires many years of demanding work, dedication, and sacrifice while forgoing potential work experience you could obtain by starting to work after an MBA. 

Let’s talk about specific examples of different types of MBA vs. PhDs.

MBA vs. Ph.D. in finance (with salary comparison)

MBA vs. Ph.D. in finance is an incorrect comparison because these are two drastically different degrees. As mentioned above, an MBA is a generalist degree even when an MBA student chooses concentration or specialization in finance.

In contrast, Ph.D. in finance is a degree issued after research focused on a specific new topic in finance. 

Ph.D. in finance involves learning and research in the following areas: finance, financial markets, economics, corporate finance, investments, statistics, advanced math, econometrics, risk management, and other relevant topics. 

Ph.D. in finance can take 5-6 years to complete vs. two years for MBA. Most PhDs in finance work in education or research institutions.

Deep knowledge of finance may allow a Ph.D. in finance graduate to obtain a research and analysis position within the financial industry. 

I think that Ph.D. in finance from a low-ranking institution is likely to yield a research or education job. But a Ph.D. in finance from top-ranking elite business schools is more likely to open doors in the business industry.

Consulting firms, banks, hedge funds, securities firms, investment research, and similar entities will likely hire elite Ph.D. graduates with good salaries. 

Such industry professions as a financial manager, financial analyst, actuary, finance teacher are often cited as prospective growth careers for those with Ph.D. in finance. But majority of PhDs end up in academia or research institutions.

I also think large financial institutions, such as investment banks or hedge funds may hire elite Ph.D. researchers to research macroeconomic and financial trends. And such institutions probably pay the most. Policy research institutions hire PhDs as well but for a lower salary. 

How much can you make with a Ph.D. in finance?

There is little data on Ph.D. in finance as most hirings go in confidence. Colleges will advertise $180,000-$220,000 post-graduation salary for Ph.D. in finance but remember that they promote their Ph.D. programs to prospective students and puff the numbers. 

First, a teaching job for Ph.D. in finance will pay around $60,000-$90,000 annually because the education industry generally pays less. The business industry will probably pay on average $80,000-$100,000 to start with, depending on the school rank. 

Some firms and companies may pay more, but those are rather exceptions.  And Ph.D. must be from one of the top business programs in the country to obtain more than $120,000 starting salary after graduation.  

My research on jobs sites revealed that it is not uncommon for Ph.D. in finance to make around $100,000 in a quantitative analytical position in the finance industry.

And with career progress and proven success record Ph.D. in finance can make more than $120,000-$150,000 or more by moving into a managerial position.

Why is MBA better than Ph.D. in Finance?

It is tough to get into Ph.D. in finance program because only about 0.3%-2% of applicants are accepted. It is a very long and challenging process until graduation. In addition, ph.D. in finance requires hardcore math skills. 

It is tough to get published in top financial research publications. And if you do not get published often, then after Ph.D. in finance, you will not get that tenured teaching job. 

Additionally, large financial institutions like to hire PHDs from elite business schools rather than ones from lower-ranking colleges. The finance industry is snobby.  

I also have read about Ph.D. in finance who went into marketing analytics instead and excelled there as a marketing analyst.  

Conclusion about MBA vs. Ph.D. in finance

Do not go into Ph.D. if you want it for a career or job because a Ph.D. is essentially a teaching and research degree. 

Overall, Ph.D. in finance will not yield a much higher salary than MBA from a reputable business school. However, ph.D. in finance may bring substantial career benefits if it is from one of the elite business schools.

On the other hand, a ph.D. in finance from a low-ranking business school may not even result in a suitable teaching position.

A ph.D. in finance is worth only if you plan to work in academia and be an academic researcher in the field of finance. Still, there are possibilities for switching to private industry jobs for Ph.D. in finance.

But long and tedious Ph.D. process may not be worth the hustle just for getting a career in the finance industry.

MBA with a concentration in finance is easier to obtain in the top 50 MBA program and generally is a significantly faster process. Then in two years, you can start looking for a job. 

Financial institutions also like to hire people with MBAs or MS in finance. Because of that, I think MS in finance is a much easier route to break into the financial industry than Ph.D. in finance. Plus, financial institutions like to hire advanced math or statistics majors rather than Ph.D. in finance. 

Go for MS in finance or MBA from a top business school. But, frankly, Ph.D. in math or economics may be an even better route to break into the world of finance than Ph.D. in finance. 

MBA vs. Ph.D. in economics (with salary comparison)

When deciding on MBA vs. Ph.D. in economics, we must remember that Ph.D. in economics is as much a teaching research degree as any other Ph.D.

I like economics because it studies society and consumer behavior as much as complex numbers. Economics degree is number 2 among people with degrees who got rich (number 1 is engineering). 

I guess this success has to do with economists studying and forecasting industry and economic trends. As a result, they develop an astute understanding of where things are heading in the economy. 

The accurate average starting salary for Ph.D. in economics is probably also around $70,000-$90,000. However, PhDs from elite universities are yielding higher wages between $100,000 and $200,000. 

Ph.D. in economics is a more popular degree than Ph.D. in finance but suffers from the same limitations. Ph.D. in economics is essentially an academic research and teaching degree. 

Getting a Ph.D. in economics is as challenging as getting a Ph.D. in finance and maybe even harder, according to Ph.D. graduates. It is a highly rigorous program with all math and calculations and lots of personal sacrifices.

Minus, pay is low while you pursue it for 5-6 years. After graduation, you must have published papers, or you will lose the possibility to land a suitable teaching position. 

PhD vs MBA For Jobs in Private Industry

Among the advantages of a Ph.D. in economics vs. MBA is that Ph.D. in economics is a heavily quantitative degree and good quants are always in demand in the business industry.

Ph.D. in economics studies much deeper theoretical and practical application economics to the real-life business world than MBA. And Ph.D. in economics knows advanced math very well. 

A ph.D. in economics may open some private business industry research and analysis positions. Still, the salary level is not likely to be higher than the one obtained by MBA graduates from one of the 50 top-ranking MBA programs in the country. 

Therefore, I think MBA from a top 50 business school is a better practical career choice than Ph.D. in economics. 

My take Ph.D. in economics is worth it only if you are not just a fan but a fanatic of economics and would love to teach and research it day and night and on Sunday.

Otherwise, MBA with a concentration in economics may be a better choice for a quicker career start. Alternatively, you may obtain MS in applied business economics or MS in finance. 

I said that Ph.D. in economics is generally a more popular business Ph.D. choice because it looks like such PhDs can find industry jobs more quickly than Ph.D. in finance.  

One good news is that PhDs in economics have one of the lowest unemployment rates among all types of PhDs. So, at least, Ph.D. in economics is very likely to obtain a job.  

However, pay may not be necessarily better than that of MBA or MS in Finance, MS in applied economics, or MS in Math or statistics. 

And Ph.D. in math or technology is still the best for a three-figure salary. Keep in mind that all quantitative PhDs often compete for the same quantitative or analytical jobs in the business industry.

Conclusion: Better Ph.D. in business or MBA?

41% of MBAs are underemployed, and almost 90% of MBAs report working in positions not related to their MBA. I also went into the legal field despite having top As in my finance and economics classes. 

Other reputable reports suggest that MBAs are employable mostly when they already have 5-6 years of relevant work experience. Thus, MBA serves just as a career booster, not a career starter, unless MBA is from an elite business school. 

On the other hand, a Ph.D. takes 3-7 or even ten years to complete while underpaying. And even upon graduation, often PhDs salaries are not much higher than those of MBAs. In fact, on average, no more than 20% higher. 

The majority of Ph.D. business jobs are in teaching or consulting. Therefore, a Ph.D. will make you overqualified for most entry-level positions. Even MBA can make you overqualified for many jobs. 

Is a Ph.D. worth it? Is it worth spending 5-7 years of hard Ph.D. research work just on getting paid a little more than MBA after two years of master’s degree? You tell me. 

It is a bad idea to obtain Ph.D. just for a job and career. But the following are exceptions. First, Ph.D. is great if you love doing research, writing research papers on the super-favorite topics so much that you can consistently keep working on your Ph.D. for so many years without quitting. 

And, if the topic of your Ph.D. is in some field with challenging practical applications, like quantitative or Tech, you may even enjoy a great paying career after obtaining a Ph.D. 

People with solid quantitative skills will always find analytical jobs in the business. The salary Ph.D. in the quantitative discipline may initially not be much better than that of a regular MBA.

Still, the long-term job security and career growth may be as good because Ph.D. is a specialist with quantitative skills like nobody else in the job market. 

Overall, I think that Ph.D. is not better than MBA in Ph.D. vs. MBA debate. Instead, I believe MBA is better than Ph.D. because it takes less time and effort to complete.

In addition, MBA is a significantly better choice if you can practice GMAT and get into MBA at one of the higher-ranking business schools. 

But PhDs in Tech or quantitative disciplines may be well worth the long marathon for those who genuinely enjoy doing that type of work. 

This article’s information and opinions represent only my opinion based on some data, some research, and work experience. In no way is this education or career advice.

Said that, hopefully, you now have a little more information to work with when deciding about MBA vs. Ph.D. paths, their flaws, and benefits.  

Source 1 , Source 2 , Source 3 , Source 4 , Source 5 , Source 6 , Source 7 , Source 8 , Source 9

MBA vs PhD in Business

Key Takeaways

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

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

Featured Programs

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

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

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

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

What is A PhD?

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

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

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

Comparing MBA and PhD in Business

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

Similarities

Competitive admissions.

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

Enrollment Requirements

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

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

Standardized Tests

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

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

Differences

Work experience.

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

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

Curriculum Focus

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

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

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

Degree Duration

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

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

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

Distinguishing Factors

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

Networking Opportunities

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

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

Research vs. Practical Experience

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

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

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

Learning Styles

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

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

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

When can an MBA in business be useful?

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

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

When can a PhD in business be useful?

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

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

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

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

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

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

3 Tips for Choosing Between an MBA and a PhD

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

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

Consult a Professional Guidance Counselor

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

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

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

Find out Each Program’s Commitments

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

Consider Your Preferred Learning Style

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

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

Related Questions

Is acquiring a phd beneficial.

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

Which MBA is most difficult?

One of the most challenging MBA specializations is operations management.

Is earning a PhD stressful?

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

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

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

• Testimonials
• Website Content Writing
• Technical Content Writing
• Product Description Writing
• SEO Content Writing

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

September 8, 2023

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

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

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

Why the MBA Falls Short

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

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

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

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

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

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

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

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

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

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

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

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

Contributor

Brandon Galarita

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

Related Posts

Exploring financial options for graduate education, top-rated online nursing schools, higher education prerequisite for most u.s. job opportunities.

• Second Master’s or PhD? – A Comparison
• Types of Doctorates

A second Master’s degree is best suited for those who want to work in industry, but first either want to acquire additional knowledge in their current field or move to a new one. A PhD is best suited to those who want to gain advanced research skills and expertise in their current field and pursue a career in research or academia.

Introduction

It’s common for Master’s students to be plagued by the thought of what they will do next as they near the end of their current degree. Whether it’s taking a gap year, starting their career or continuing education, one thing is clear: there are many possibilities.

If you decide to stay in education, you’ll likely at some point consider whether it’s better to do a second Master’s or a PhD. You’d be right to give this serious thought, as the two degrees have significant differences, from their costs and durations, to the career paths they offer.

This page explains the differences between a second Master’s and a PhD, the pros and cons of each, and will help you to decide which of the two degrees is best for you.

Second Master’s vs PhD

Level of specialisation, master’s.

A Master’s degree, regardless of whether it’s an MSc, MRes or MPhil, aims to provide you with targeted knowledge that builds on what you would have learnt from your undergraduate degree. Although each type of Master’s degree has its own focus, such as an MSc on practical knowledge and an MPhil on research skills, the specialisation they offer isn’t as in-depth as that offered by a PhD. This is because they have a wider curriculum and usually utilise several teaching methods, including lectures and tutorials, which provide a range of knowledge around several closely related subjects.

PhDs are the highest form of academic qualification you can obtain and offer more specialised knowledge than any Master’s degree. Unlike Master’s degrees, which are based on a mixture of teaching methods and curriculum, PhDs are purely research degrees and focus on a specific research question.

A second Master’s degree will provide you with specialist knowledge in various subjects in your field. A doctoral degree will provide you with research skills and expert knowledge in a single topic within your field.

Programme Duration

Most Master’s courses take one year to complete, with an MPhil two years. However, the exact duration will depend on your specific course, type of Master’s and university.

A PhD lasts on average three to four years , with part-time studies lasting up to eight years.

Since a doctorate lasts several times longer than a Master’s, it requires a much greater commitment.

Programme Cost

The cost of a second Master’s degree will vary depending on its type, subject and host universities. Based on an analysis by FindAMaster’s , which summarises tuition fees from the International and Postgraduate Fees Survey 2019 , the average academic tuition fee per year for a Master’s degree in the UK is:

The average tuition fee per year for a PhD in the UK is £4,407 for home/EU students and £19,600 for international students .

There are other fees associated with doctoral research projects that aren’t present with Master’s studies. These include bench fees, travel costs for collaborations and conferences, and potential writing up fees for late thesis submissions.

Annually, a second Master’s degree is twice as expensive than a PhD for home/EU students, and slightly cheaper for international students. However, considering the typical duration of these programmes, a PhD becomes significantly more expensive; twice as expensive for home/EU students and four times as expensive for international students:

Notes: (1) The tuition fee values for the second Master’s is based on the average fees for an MSc. (2) The above table assumes a second Master’s duration of 1 year and a PhD duration of 4 years. (3) The fees and durations are indicative – the exact values vary depending on the course and university.

It’s also important to bear in mind that many PhD programmes come with funding which covers the cost of their fees. Many funding packages also include a living allowance (known as a stipend) which is comparable to a low salary. It is usually much more difficult to secure non-repayable funding for a Master’s programme unless it’s integrated with a PhD programme.

Employability

The skills and knowledge gained through a Master’s degree are general enough to apply to other relevant disciplines. For example, a Master’s degree in statistics would enable you to work in finance, medical analysis, and specific engineering fields etc. Due to this, a second Master’s could help make you suitable for an even wider range of professional fields.

Because a PhD focuses on advanced research methods and a specific research question as opposed to the broad field, your career path is usually refined to the more advanced positions which require expert knowledge. This doesn’t mean that you cannot apply your skills elsewhere, but most PhD holders remain in their field after completing their studies.

It’s worth noting, however, that there is a growing trend for PhD holders to use the transferable skills they acquired during their degree to successfully reposition themselves in careers outside of academia. In fact, STEM PhD holders are particularly sought after in the financial sector because of their proven ability to perform complex tasks under strict deadlines.

Both a second Master’s and a PhD offer excellent employment opportunities. However, a second Master’s usually offers greater career flexibility across industries, especially at the beginning of a career. A doctorate opens up the more demanding positions within a field, but can sometimes make it more difficult to change industries.

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

Advantages and Disadvantages of a Second Master’s

Improving skills:  A second Master’s can strengthen your skills within your current field. For example, suppose you have an MEng in Biomedical Engineering. Here, you know of the technical aspects and their application, but you do not necessarily know how to innovate and develop them further. You could fill this skills gap with an MRes or an MPhil that would provide you with complimentary research and investigatory skills. Improving your skills won’t only help you advance faster in your career faster but may also open up future roles that would not otherwise be available to you.

Career change:  After completing your first Master’s degree, you may decide that the field is no longer suitable for you. In these scenarios, a second Master’s degree can facilitate career changes. This will have obvious limitations, for example, you shouldn’t expect to be able to do a Master’s in Biomedical Engineering with a Master’s in Classical Literature, however, if you already have a Master’s in another type of engineering, this transition would be possible.

Bridge between different Industries: In STEM subjects, there is extensive interaction between different industries. Although this interaction has always existed, it has grown steadily as more industries try to innovate and tackle more ambitious projects. There’s an obvious need for multidisciplinary roles, and a second Master’s degree in a relevant subject can make you desirable for this reason.

Disadvantages

Perception: If you carry out a second Master’s in a field unrelated to your first, even if to facilitate a career change, it can lead to potential employers perceiving you as unfocused. Although this shouldn’t be the case for large multidisciplinary organisations, it may deter the more specialised companies.

Salary: While a second relevant Master’s in the same subject field may increase your earning potential, a second unrelated Master’s is unlikely to. Although an unrelated second Master’s isn’t a disadvantage if being used to facilitate a career change, it will probably be an unnecessary use of time and money if you intend to stay within your current career path.

Advantages and Disadvantages of a PhD

Establishing yourself as an Expert: Any individual who holds a doctorate is considered an expert in his or her field. Therefore, a PhD has not only a prestigious status but also opens up roles in advanced research and academia.

Commitment: A PhD shows your willingness, commitment and motivation to learn. This makes you highly desirable for employers, as a strong passion for continuous learning usually correlates with the potential to become industry leaders.

Less freedom:  Taking three to four years to complete, a PhD is a huge commitment. As a result, many feel pressured to stay in their field to ensure that their PhD was ‘worth’ it, even if they no longer feel that the field is the right one for them. Although it is still possible to change paths after your doctorate, and many do so successfully, many feel ‘locked’ into their path after they finish their studies.

Over-qualified: You may find it difficult to find a job outside of research or academia, as employers may consider you over-qualified and therefore believe that you will quickly leap from the role to a more challenging one. They may also believe you lack practical work experience compared to your counterpart, who has a Master’s degree and has been working in the industry whilst you were working on your academic studies.

Cost: While PhD programmes can come with funding that helps to finance tuition fees and living costs, the funding usually covers only the first 3.5 years of full-time programmes and the first seven years of part-time programmes. You may be determined to complete your doctorate within this timeframe, but it is not uncommon for students to experience setbacks in their research that take them beyond the period for which they’re funded for. This means they have to pay the rest of the fee themselves, which can be a significant burden for some, especially if they lack the savings to do so.

Deciding between a second Master’s and a PhD may seem like a tough decision, but ultimately it depends on what your career goals are. Therefore, the first thing to do is to ensure you’ve thought about your future and have a good idea of where you want to go after your education.

A second Master’s is best suited to those who want to either gain more specialised knowledge in their current industry or make a job change by transitioning into a new industry. A PhD is best suited for those who want to gain advanced research skills and knowledge in their field and pursue a career in research or academia.

Either way, both options offer great opportunities and will open new doors for you. Which of the two degrees is better for you depends on which door you would like to open.

Browse PhDs Now

Join thousands of students.

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

• MBA Articles & Blogs
• Articles and Blogs | Online & Distance Learning UK Degrees
• Articles and Blogs

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

• Posted by Stafford Global
• Categories MBA Articles & Blogs , Articles and Blogs , General Articles & Blogs
• Date November 16, 2023

Table of Contents

What is a DBA?

What is a PhD in Business Administration?

Comparing dba and phd: a table for clear distinction.

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

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

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

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

Key Characteristics of a DBA:

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

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

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

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

Key Characteristics of a PhD:

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

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

Interested in learning more about the DBA?

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

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

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

• +971 800 1993
•   [email protected]
• www.staffordglobal.org 

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

Tag: DBA , DBA doctorate degree , Doctorate in Business Administration , PhD , PhD in Business Administration

Previous post

Is Facebook Dead as a Social Media Platform?

Teaching to build long-term memory, you may also like.

Exploring Alternative English Language Qualifications for UK Master’s Degrees

Essential Time Management Strategies for Online Learning

What is the difference between an MBA and an Executive MBA?

Stafford global, privacy overview.

About Stanford GSB

• The Leadership
• Dean’s Updates
• School News & History
• Commencement
• Business, Government & Society
• Centers & Institutes
• Center for Entrepreneurial Studies
• Center for Social Innovation
• Stanford Seed

About the Experience

• Learning at Stanford GSB
• Experiential Learning
• Guest Speakers
• Entrepreneurship
• Social Innovation
• Communication
• Life at Stanford GSB
• Collaborative Environment
• Activities & Organizations
• Student Services
• Housing Options
• International Students

Full-Time Degree Programs

• Why Stanford MBA
• Academic Experience
• Financial Aid
• Why Stanford MSx
• Research Fellows Program
• See All Programs

Non-Degree & Certificate Programs

• Executive Education
• Stanford Executive Program
• Programs for Organizations
• The Difference
• Online Programs
• Stanford LEAD
• Seed Transformation Program
• Aspire Program
• Seed Spark Program
• Faculty Profiles
• Academic Areas
• Awards & Honors
• Conferences

Faculty Research

• Publications
• Working Papers
• Case Studies

Research Hub

• Research Labs & Initiatives
• Business Library
• Data, Analytics & Research Computing
• Behavioral Lab

Research Labs

• Cities, Housing & Society Lab
• Golub Capital Social Impact Lab

Research Initiatives

• Corporate Governance Research Initiative
• Corporations and Society Initiative
• Policy and Innovation Initiative
• Rapid Decarbonization Initiative
• Stanford Latino Entrepreneurship Initiative
• Value Chain Innovation Initiative
• Venture Capital Initiative
• Career & Success
• Climate & Sustainability
• Corporate Governance
• Culture & Society
• Finance & Investing
• Government & Politics
• Leadership & Management
• Markets and Trade
• Operations & Logistics
• Opportunity & Access
• Technology & AI
• Opinion & Analysis
• Email Newsletter

Welcome, Alumni

• Communities
• Digital Communities & Tools
• Regional Chapters
• Women’s Programs
• Identity Chapters
• Find Your Reunion
• Career Resources
• Job Search Resources
• Career & Life Transitions
• Programs & Webinars
• Career Video Library
• Alumni Education
• Research Resources
• Volunteering
• Alumni News
• Class Notes
• Alumni Voices
• Contact Alumni Relations
• Upcoming Events

Admission Events & Information Sessions

• MBA Program
• MSx Program
• PhD Program
• Alumni Events
• All Other Events
• Second Year
• Global Experiences
• JD/MBA Joint Degree
• MA Education/MBA Joint Degree
• MD/MBA Dual Degree
• MPP/MBA Joint Degree
• MS Computer Science/MBA Joint Degree
• MS Electrical Engineering/MBA Joint Degree
• MS Environment and Resources (E-IPER)/MBA Joint Degree
• Academic Calendar
• Clubs & Activities
• LGBTQ+ Students
• Military Veterans
• Minorities & People of Color
• Partners & Families
• Students with Disabilities
• Student Support
• Residential Life
• Student Voices
• MBA Alumni Voices
• A Week in the Life
• Career Support
• Employment Outcomes
• Cost of Attendance
• Knight-Hennessy Scholars Program
• Yellow Ribbon Program
• BOLD Fellows Fund
• Application Process
• Loan Forgiveness
• Contact the Financial Aid Office
• Evaluation Criteria
• GMAT & GRE
• English Language Proficiency
• Personal Information, Activities & Awards
• Professional Experience
• Letters of Recommendation
• Optional Short Answer Questions
• Application Fee
• Reapplication
• Deferred Enrollment
• Entering Class Profile
• Event Schedule
• Ambassadors
• New & Noteworthy
• Ask a Question
• Student Life & Community
• Career Impact
• Tuition & Aid
• Joint & Dual Degrees

Your interests and goals may span multiple academic disciplines or areas of expertise. That is why the Stanford MBA Program empowers you to combine studies. This flexibility offers a rich and valuable academic experience.

Generally, about 20 percent of Stanford MBA students take advantage of a joint or dual degree to complement their MBA. As a student, you may also take courses in any department or graduate school at Stanford University.

Joint Degrees

Your Stanford joint degrees must be conferred simultaneously upon completion of degree requirements for both programs. While in the Stanford MBA Program, you may not pursue concurrently more than one additional degree. Learn more about joint degree programs below.

Hilary Bartlett

“It is not at all an overstatement to say that my four years in the joint JD/MBA program at Stanford have been life-changing. Committed professors and inspiring peers have challenged me to expand my vision of what is possible for myself and for the world. I am graduating with greater confidence, a clearer sense of self, and an excitement for what the future holds. Not only do I dream bigger as a result of my time at Stanford, but my dreams feel more attainable. I am leaving Stanford with so much more than the foundational skill set I was seeking.”

Owen Wurzbacher

“The GSB’s joint degree program allowed me to explore the intersection of two passions: investing and education. It provided the flexibility to study both fields and illustrated the opportunities for applying business skills to education in an informed way. Using tools developed and relationships built, I look forward to influencing the education field and inspiring a love of learning in young people during my career.”

Dual Degrees

Interested in an additional discipline that is not represented in our joint degree programs? You can pursue a master’s degree from another Stanford program along with your MBA. While in the Stanford MBA program, you may not pursue concurrently more than one additional degree.  

You may pursue a dual degree with any graduate program at Stanford University. Candidates must apply to and be accepted by the other program separately, and then notify Stanford GSB. You may apply concurrently to both programs or apply to the dual degree program during your first year as an MBA student; some graduate programs also permit you to apply in your second year. As with joint degrees, you may only pursue one additional degree while in the MBA program.

Justin Norden

“After starting medical school at Stanford, I decided to pursue an MBA at the GSB to develop the skills to become a leader at the intersection of health care, technology, and medicine. Business school has not only taught me many valuable leadership skills, but also opened my eyes to think about problems in completely new ways. The best part about the GSB, however, has been getting to know and learn from so many wonderful classmates.”

Study Opportunities Outside Stanford

Stanford MBA students may also pursue degrees with specific professional schools at other universities. Check with each school regarding its policy and timeline.

Eligible Degree Programs & Requirements

• Harvard Kennedy School: MPA, MPA-ID, or MPP
• Johns Hopkins School of Advanced International Studies (SAIS): MA
• Princeton School of Public and International Affairs: MPA
• Yale Law School: JD
• Yale Medical School: MD

You may enroll in either a joint or dual degree with another graduate program at Stanford or a degree from an external university, but not both.

Degree Requirements

Paths to Completion by School

Harvard kennedy school (hks), johns hopkins sais, and princeton school of public and international affairs (spia).

You must spend five quarters of full-time study at Stanford GSB. The combined degree programs must be completed in one of the following timelines. Note that some programs may require a particular academic path in order to successfully complete both degrees.

Yale Medical School and Yale Law School

You must spend five quarters of full-time study at Stanford GSB and complete at least one year at YMS or YLS first. Consult with YMS or YLS for timeline requirements.

Things to Consider

Benefits of these experiences.

• Completing two degrees in a shorter amount of time while also saving on tuition
• Expanding one’s network outside of Stanford GSB
• Enhancing marketability for certain career opportunities
• Personalizing and individualizing your academic experience to meet your specific learning goals
• Limited capacity for electives that don’t count toward either degree program
• Higher quarterly enrollment load compared to peers pursuing the MBA only
• Possibly not graduating with your MBA cohort (depending upon your program)
• Additional moving expenses and logistical challenges if pursuing a program in a different location
• Not being able to participate in specific activities or courses that occur during a quarter that you are away from Stanford GSB (e.g., Arbuckle Leadership Fellows, View From The Top Leaders, Peer Advisors, TALK coach, Leadership Perspectives course assistants)
• Priorities for the GSB's Future
• See the Current DEI Report
• Supporting Data
• Research & Insights
• Share Your Thoughts
• Search Fund Primer
• Teaching & Curriculum
• Affiliated Faculty
• Faculty Advisors
• Louis W. Foster Resource Center
• Defining Social Innovation
• Impact Compass
• Global Health Innovation Insights
• Faculty Affiliates
• Student Awards & Certificates
• Changemakers
• Dean Jonathan Levin
• Dean Garth Saloner
• Dean Robert Joss
• Dean Michael Spence
• Dean Robert Jaedicke
• Dean Rene McPherson
• Dean Arjay Miller
• Dean Ernest Arbuckle
• Dean Jacob Hugh Jackson
• Dean Willard Hotchkiss
• Faculty in Memoriam
• Stanford GSB Firsts
• Class of 2024 Candidates
• Certificate & Award Recipients
• Dean’s Remarks
• Keynote Address
• Teaching Approach
• Analysis and Measurement of Impact
• The Corporate Entrepreneur: Startup in a Grown-Up Enterprise
• Data-Driven Impact
• Designing Experiments for Impact
• Digital Marketing
• The Founder’s Right Hand
• Marketing for Measurable Change
• Product Management
• Public Policy Lab: Financial Challenges Facing US Cities
• Public Policy Lab: Homelessness in California
• Lab Features
• Curricular Integration
• View From The Top
• Formation of New Ventures
• Managing Growing Enterprises
• Startup Garage
• Explore Beyond the Classroom
• Stanford Venture Studio
• Summer Program
• Workshops & Events
• The Five Lenses of Entrepreneurship
• Leadership Labs
• Executive Challenge
• Arbuckle Leadership Fellows Program
• Selection Process
• Training Schedule
• Time Commitment
• Learning Expectations
• Post-Training Opportunities
• Who Should Apply
• Introductory T-Groups
• Leadership for Society Program
• Certificate
• 2024 Awardees
• 2023 Awardees
• 2022 Awardees
• 2021 Awardees
• 2020 Awardees
• 2019 Awardees
• 2018 Awardees
• Social Management Immersion Fund
• Stanford Impact Founder Fellowships
• Stanford Impact Leader Prizes
• Social Entrepreneurship
• Stanford GSB Impact Fund
• Economic Development
• Energy & Environment
• Stanford GSB Residences
• Environmental Leadership
• Stanford GSB Artwork
• A Closer Look
• California & the Bay Area
• Voices of Stanford GSB
• Business & Beneficial Technology
• Business & Sustainability
• Business & Free Markets
• Business, Government, and Society Forum
• Get Involved
• See Why Stanford MSx
• Is MSx Right for You?
• MSx Stories
• Leadership Development
• How You Will Learn
• Admission Events
• Personal Information
• GMAT, GRE & EA
• English Proficiency Tests
• Career Change
• Career Advancement
• Daycare, Schools & Camps
• U.S. Citizens and Permanent Residents
• Requirements
• Requirements: Behavioral
• Requirements: Quantitative
• Requirements: Macro
• Requirements: Micro
• Annual Evaluations
• Field Examination
• Research Activities
• Research Papers
• Dissertation
• Oral Examination
• Current Students
• Education & CV
• International Applicants
• Statement of Purpose
• Reapplicants
• Application Fee Waiver
• Deadline & Decisions
• Job Market Candidates
• Academic Placements
• Stay in Touch
• Faculty Mentors
• Current Fellows
• Standard Track
• Fellowship & Benefits
• Group Enrollment
• Program Formats
• Developing a Program
• Diversity & Inclusion
• Strategic Transformation
• Program Experience
• Contact Client Services
• Campus Experience
• Live Online Experience
• Silicon Valley & Bay Area
• Digital Credentials
• Faculty Spotlights
• Participant Spotlights
• Eligibility
• International Participants
• Stanford Ignite
• Frequently Asked Questions
• Operations, Information & Technology
• Organizational Behavior
• Political Economy
• Classical Liberalism
• The Eddie Lunch
• Accounting Summer Camp
• Videos, Code & Data
• California Econometrics Conference
• California Quantitative Marketing PhD Conference
• California School Conference
• China India Insights Conference
• Homo economicus, Evolving
• Political Economics (2023–24)
• Scaling Geologic Storage of CO2 (2023–24)
• A Resilient Pacific: Building Connections, Envisioning Solutions
• Adaptation and Innovation
• Changing Climate
• Civil Society
• Climate Impact Summit
• Climate Science
• Corporate Carbon Disclosures
• Earth’s Seafloor
• Environmental Justice
• Operations and Information Technology
• Organizations
• Sustainability Reporting and Control
• Taking the Pulse of the Planet
• Urban Infrastructure
• Watershed Restoration
• Junior Faculty Workshop on Financial Regulation and Banking
• Ken Singleton Celebration
• Marketing Camp
• Quantitative Marketing PhD Alumni Conference
• Presentations
• Theory and Inference in Accounting Research
• Stanford Closer Look Series
• Quick Guides
• Core Concepts
• Journal Articles
• Glossary of Terms
• Faculty & Staff
• Researchers & Students
• Research Approach
• Charitable Giving
• Financial Health
• Government Services
• Workers & Careers
• Short Course
• Adaptive & Iterative Experimentation
• Incentive Design
• Social Sciences & Behavioral Nudges
• Bandit Experiment Application
• Conferences & Events
• Reading Materials
• Energy Entrepreneurship
• Faculty & Affiliates
• SOLE Report
• Responsible Supply Chains
• Current Study Usage
• Pre-Registration Information
• Participate in a Study
• Founding Donors
• Location Information
• Participant Profile
• Network Membership
• Program Impact
• Collaborators
• Entrepreneur Profiles
• Company Spotlights
• Seed Transformation Network
• Responsibilities
• Current Coaches
• How to Apply
• Meet the Consultants
• Meet the Interns
• Intern Profiles
• Collaborate
• Research Library
• News & Insights
• Program Contacts
• Databases & Datasets
• Research Guides
• Consultations
• Research Workshops
• Career Research
• Research Data Services
• Course Reserves
• Course Research Guides
• Material Loan Periods
• Fines & Other Charges
• Document Delivery
• Interlibrary Loan
• Equipment Checkout
• Print & Scan
• MBA & MSx Students
• PhD Students
• Other Stanford Students
• Faculty Assistants
• Research Assistants
• Stanford GSB Alumni
• Telling Our Story
• Staff Directory
• Site Registration
• Alumni Directory
• Alumni Email
• Privacy Settings & My Profile
• Success Stories
• The Story of Circles
• Support Women’s Circles
• Stanford Women on Boards Initiative
• Alumnae Spotlights
• Insights & Research
• Industry & Professional
• Entrepreneurial Commitment Group
• Recent Alumni
• Half-Century Club
• Fall Reunions
• Spring Reunions
• MBA 25th Reunion
• Half-Century Club Reunion
• Faculty Lectures
• Ernest C. Arbuckle Award
• Alison Elliott Exceptional Achievement Award
• ENCORE Award
• Excellence in Leadership Award
• John W. Gardner Volunteer Leadership Award
• Robert K. Jaedicke Faculty Award
• Jack McDonald Military Service Appreciation Award
• Jerry I. Porras Latino Leadership Award
• Tapestry Award
• Student & Alumni Events
• Executive Recruiters
• Interviewing
• Land the Perfect Job with LinkedIn
• Negotiating
• Elevator Pitch
• Email Best Practices
• Resumes & Cover Letters
• Self-Assessment
• Whitney Birdwell Ball
• Margaret Brooks
• Bryn Panee Burkhart
• Margaret Chan
• Ricki Frankel
• Peter Gandolfo
• Cindy W. Greig
• Natalie Guillen
• Carly Janson
• Sloan Klein
• Sherri Appel Lassila
• Stuart Meyer
• Tanisha Parrish
• Virginia Roberson
• Philippe Taieb
• Michael Takagawa
• Terra Winston
• Johanna Wise
• Debbie Wolter
• Rebecca Zucker
• Complimentary Coaching
• Changing Careers
• Work-Life Integration
• Career Breaks
• Flexible Work
• Encore Careers
• Join a Board
• D&B Hoovers
• Data Axle (ReferenceUSA)
• EBSCO Business Source
• Global Newsstream
• Market Share Reporter
• ProQuest One Business
• Student Clubs
• Entrepreneurial Students
• Stanford GSB Trust
• Alumni Community
• How to Volunteer
• Springboard Sessions
• Consulting Projects
• 2020 – 2029
• 2010 – 2019
• 2000 – 2009
• 1990 – 1999
• 1980 – 1989
• 1970 – 1979
• 1960 – 1969
• 1950 – 1959
• 1940 – 1949
• Service Areas
• ACT History
• ACT Awards Celebration
• ACT Governance Structure
• Building Leadership for ACT
• Individual Leadership Positions
• Leadership Role Overview
• Purpose of the ACT Management Board
• Contact ACT
• Business & Nonprofit Communities
• Reunion Volunteers
• Ways to Give
• Fiscal Year Report
• Business School Fund Leadership Council
• Planned Giving Options
• Planned Giving Benefits
• Planned Gifts and Reunions
• Legacy Partners
• Giving News & Stories
• Giving Deadlines
• Development Staff
• Submit Class Notes
• Class Secretaries
• Board of Directors
• Health Care
• Sustainability
• Class Takeaways
• All Else Equal: Making Better Decisions
• If/Then: Business, Leadership, Society
• Grit & Growth
• Think Fast, Talk Smart
• Spring 2022
• Spring 2021
• Autumn 2020
• Summer 2020
• Winter 2020
• In the Media
• For Journalists
• DCI Fellows
• Other Auditors
• Academic Calendar & Deadlines
• Course Materials
• Entrepreneurial Resources
• Campus Drive Grove
• Campus Drive Lawn
• CEMEX Auditorium
• King Community Court
• Seawell Family Boardroom
• Stanford GSB Bowl
• Stanford Investors Common
• Town Square
• Vidalakis Courtyard
• Vidalakis Dining Hall
• Catering Services
• Policies & Guidelines
• Reservations
• Contact Faculty Recruiting
• Lecturer Positions
• Postdoctoral Positions
• Accommodations
• CMC-Managed Interviews
• Recruiter-Managed Interviews
• Virtual Interviews
• Campus & Virtual
• Search for Candidates
• Think Globally
• Recruiting Calendar
• Recruiting Policies
• Full-Time Employment
• Summer Employment
• Entrepreneurial Summer Program
• Global Management Immersion Experience
• Social-Purpose Summer Internships
• Process Overview
• Project Types
• Client Eligibility Criteria
• Client Screening
• ACT Leadership
• Social Innovation & Nonprofit Management Resources
• Develop Your Organization’s Talent
• Centers & Initiatives
• Student Fellowships