After graduation, it is common start considering moving ahead with your studies. You know you have learned a lot, but you also know that there is much more out there. Plus, you might have noticed that a post-graduation degree will add value to your resume, increasing your chances to get hired for the best job positions.
But what you might be finding hard to decide is if you should go for a Ph.D. or an MBA degree. You have heard great things about both, but you also know that they are quite different in many terms. So which one is the best choice for those looking for future employment? This is what we are going to answer here.
Consider your career goal
The first thing that you will want to consider is your career goal related to continuing your education. Yes, it is clear that you want to pick the course that will increase your chances to be called for the job of your dreams. But which type of job are you looking for and in which industry?
If what you want is to be hired by a private company, the chances are that you should go for an MBA. They are more business oriented and can help you to understand how big players make money – and how you can assist them to make more.
But if you are interested in joining an educational institution, such as a university, or a research centre, then a Ph.D. has much more to offer you. It will keep up updated on the latest findings related to your area of interest, plus will give you the opportunity to improve your teaching and researching skills.
Consider the job position you want
MBAs are generally focused on training executives, managers, directors, and C-suite. In other words, they are created to prepare those that will be in charge. If you aren’t interested in becoming a boss just yet, maybe you won’t find many of the classes very relevant.
On the other hand, Ph.D. are ideal for those looking for positions where there is a lot of individual work. Sure, you can be part of a research team, but you will be working with horizontally more likely instead of giving orders.
Consider the job descriptions
Go online and search for the job you want on directories such as Monster or Simply Hired. Then read the requirements carefully. What are the companies or institutions looking for in terms of degree? An MBA or a Ph.D.? There will be your answer for in which you should enroll next.
It might be that you don’t see either of them listed among the minimum requirements but in the desired ones. It means that if you get it done, you will be one step ahead of being hired compared to the majority of candidates.
Check current employees on LinkedIn and websites
Another effective way to know if you should choose a Ph.D. or an MBA is by having a look at the resumes of people who already have got the job you are dreaming. And you can easily find this type of information online.
You have two major ways to do it: go to a company or institution’s website and look for the About Us, Our Team, Our Staff, or something else similar. There you will find a mini CV of their employees where you might see their PhDs and MBA degrees. If you don’t, you might find only their names, so then you can try the second way.
The other option that you have is search for the same info on LinkedIn. You can type the job position you want and read the profiles you get. Pay particular attention to their Education section. Do they have got PhDs or MBAs?
Consider your own circumstances
Last but not least, you should consider your own circumstances in terms of time and money. And it is because the commitment and the sacrifices you will have to do are very different for each type of course.
Do you need to get a job fast? Then you might not have the time to go through an entire Ph.D. It can take a minimum of 4 years to complete, considering that you won’t face any issues along the way. Plus, they usually require attending full-time classes. On the other hand, MBA takes only 2 years to finish, and there are many of them that can be attended only part time or at evenings.
Don’t you have the money to pay for an MBA? Then you will have better chances to get a scholarship with a Ph.D. MBAs are aimed at professionals, so their providers expect that you are already working and able to afford it. On the contrary, Ph.D. students are usually fresh from graduations, and many won’t have any job experience. They are going to be working on research and are more likely to be financially supported by the universities.
The bottom line
As you can see, you can’t really compare MBAs with Ph.D. courses. They serve different purposes. So what you need to do is think carefully about what you think and decide which one will help you to get the job you want. Then you can go for it. Best of luck!