PhD in Business Management is a doctorate level business management course. Business management includes the activities associated with running a company, such as controlling, leading, monitoring, organizing and planning. The business management was delivering unexpectedly outstanding results for the firm so we decided to bring in another team member to grow the business even more.
The duration of PhD in Business Management is 3-years. This course includes subjects like Banking, Accounting seminar, Global marketing seminar, Theory of finance, Advanced accounting theory, Advanced accounting theory, Seminar in banking, Strategic information systems etc.
The basic eligibility for this course is candidates must hold a postgraduate degree in a relevant subject with at least 50% marks in aggregate from a recognized university. The minimum marks required vary from college to college.
Most of the colleges grant admission to this course on the basis of entrance examination and direct interviews of the short-listed candidates. The admission process can vary from college to college and the minimum marks requirement in the post-graduation degree of the candidate can vary from college to college.
The Average cost for pursuing PhD in Business Management is INR 2,000 –INR 5LPA while the exact fees vary from college to college.
Here we have mentioned some of the top colleges according to NIRF College Ranking Survey 2021 in the table given below:
|NIRF Ranking 2021||College Name||Fee Structure||Admission Process||Average Salary Package|
|8||Department of Management Studies, IIT Delhi||INR12,900||Entrance test followed by personal interview||INR 10-13LPA|
|10||Management Development School, Gurgaon||INR 2,03,000||Entrance test followed by personal interview||INR 20.13LPA|
|92||Narsee Monjee Institute of Management Studies, Mumbai||INR 57,000||Entrance test followed by personal interview||INR 3-12 LPA|
|101||National Institute of Engineering, Mumbai||INR 9,000||Entrance test followed by personal interview||INR 20.88 LPA|
|151||Christ University, Bangalore||INR 75,000||Entrance test followed by personal interview||INR 5.75LPA|
These graduates are usually hired in areas like Academics institutions, Colleges and universities, Finance, information technology, Banking, Management, Operations, Supply chain management, MNCs, Product development, Human resources etc. and they can get the job positions of lecturer & professor, team leader, statistician, data analyst, business development manager, associate, manager, business analyst, team assistant, consultant, teacher etc.
Successful PhD in Business Management graduates can expect a salary ranging between INR 4 Lakhs to 8 Lakhs per annum, at initial level, depending on his/her experience and talent.
Today there is a demand for such courses in all the countries of the world. People from their own country or from outside countries do such courses and can work in a good place or they start their company or business and employ people.
These graduates can also work across management specializations as marketing managers, strategic managers, financial managers, human resource managers, and operational managers.
What is the PhD in Business Management Admission Process?
Admission to PhD Business management is based on the Entrance test and direct interviews of the short-listed candidates. Application for admission can be availed either from the university’s website or by visiting the admission office of the same.
- Interested candidates can apply online with the required information and the admission is based on the marks obtained in graduation or post-graduation.
- If the candidates meet all the minimum entry requirements and all the documents have been received, then the application is passed to the appropriate academics within the school for consideration and to identify a suitable supervisory team.
- Prospective supervisors will take an interview of the applicant and make a decision following the interview.
- The final selection for admission in PhD in Business Management will be based on the performance in entrance test and Interview. Weightage of interview and entrance exam’s scores can vary from college to college.
What is the PhD in Business Management Eligibility Criteria?
Candidates who wish to pursue a PhD in Business Management should fulfill the following eligibility criteria and these eligibility criteria can be differ according to the different colleges, so it’s important to check the eligibility criteria of the specific college in which you are planning to get admission.
- To get admission in a doctoral degree or PhD in Business Management, you must have obtained a postgraduate degree or equivalent qualification with at least 50% total marks in any appropriate subject.
- Applicants should have a minimum experience of two years post their MBA or Master’s degree on the date of writing the admission test.
- Entry exams are the only entry tickets for taking admission in various professional courses. Students must pass the entrance exam; only then can those students get a seat in a good business management institute.
- Some colleges also specify that candidates need to have completed an MPhil to pursue a PhD course offered by them.
- Some business schools may expect the TOEFL or IELTS score as a compulsory requirement for all applicants whereas some may waive it off if your medium of study was English.
Which PhD in Business Management Entrance Exams Are Held in India?
We discuss various examinations, after passing it; you can take admission in various management courses. Here are some of the top entrance exams for admission into PhD business management course:
- XAT- Xavier Aptitude Test is an entrance test conducted by XLRI, Jamshedpur on behalf of XAMI for PhD or MBA admissions at XLRI and other institutions accepting the XAT score for admissions in different MBA or PhD courses. The time duration you will get for this exam will be 3 hours. This exam consists of sections like Verbal and Logical Ability (VA & LR), Decision Making (DM), Quantitative Ability & Data Interpretation (QA & DI), General Knowledge (GK).
- XIMB-RAT: CIMB Research Aptitude Test (XIMB-RAT). The total time duration you will get to solve all the questions is 2 hours. There will be no negative marking. You will have to focus essentially on your writing, logical/mathematical reasoning, and data interpretation skills.
- Research management aptitude test R-MAT: - Research Management Aptitude Test (RMAT) is a management entrance exam conducted by All India Management Association (AIMA) in collaboration with Aligarh Muslim University (AMU) for admission to their joint PhD program which is aimed at providing formal training to budding faculty and working managers. It's an online mode of exam of 90 minutes carrying 100 questions.
- UGC NET: The National Eligibility Test (NET), also known as UGC NET or CBSE NET, is a test to determine eligibility for college and university level lectureship. The paper will be divided into two papers: Papers 1 and 2. The candidates will have to attempt a total of two papers (papers 1 and 2) 150 questions in three hours.
- BITS Pilani PhD entrance exam: - Birla Institute of Technology and Science Admission Test conducted by the All-India computerized entrance examination, BITSAT (BITS Admission Test) at university level. Admission is completely merit-based as assessed by the BITSAT examination. The fully residential institute is privately supported. The paper will have a total of 150 questions.
|EXAM NAME||EXAM DATE||APPLICATION DATE||EXAM MODE||CONDUCTING BODY|
|Xavier Aptitude Test||January 3, 2021 (tentative)||Third week of August, 2020 - Fourth week of November, 2020||Online||Xavier school of Management|
|XIMB-RAT (Research Aptitude Test)||April 3, 2020||Last date- February 29, 2020||Online||_|
|R-MAT||June 27, 2020||January 6, 2020 –June 23, 2020||Online, Offline||All India Management Association|
|UGC NET||To be announced||March 16, 2020 – June 30,2020||Online||National Testing Agency|
|BITS Pilani PhD Entrance Examination||To be announced||January 11,2020 – May 11, 2020||Online||Birla Institute of Technology and Science|
How to Prepare for the PhD in Business Management Entrance Exam?
While preparing for the PhD entrance examination, students should keep some important points mentioned below so that they can prepare for the exam properly and can clear the qualifying examination easily with good scores.
- Before starting preparation, do some research by looking at the complete syllabus and old papers. First, know how many chapters and topics have been given in the syllabus.
- Practice previous year question papers
- While preparing, prepare easy chapters first, many times it happens that people are stuck in difficult chapters and those take too much time in chapters.
- Whenever you study, study by making points. Studying by making points makes it very easy for you to revise, especially at the time when there are some hours left before the exam starts.
How to Get Admission in A Good PhD in Business Management College?
Every student wishes to get admission in the top most college. The candidates should keep some important tips in their mind to get admission in the top college of PhD business management. So here are some tips for getting into the college of your choice:
- Your percentage in post-graduation or graduation should be according to the university’s eligibility criteria.
- Candidates should prepare for the qualifying examination according to the syllabus, so that they can score well.
- Practice previous year’s papers to improve your time management skills at the time of entrance exams.
- College essays are an extremely important part of the supplication process because they provide one of the best opportunities for you to sell yourself and convey who you are outside of grades and test scores. This is why you should spend plenty of time developing a unique essay that stands out from the rest of the crowd.
- Be updated with the deadlines of filling the application forms through websites, newspapers and magazines.
PhD in Business Management: What Is It About?
Here we have given some information about the course in which you will get to know what you will study in this course and which of your skills will develop, which is very important to know for those students who are planning to pursue P.D. business management course.
- The objective of business management specialization is to provide complete information and perspective about the management skills required to run an enterprise or business.
- The focus of all efforts from planning, organizing, execution, direction to implementation is to enhance the analytical and logical thinking skills of students/candidates.
- In every industry, there is a need for professionals who can conduct all the operations and also establish synergy between different departments. So, this course helps you to gain knowledge about the synergy of different departments as well.
- Through the business management course, business managers become capable of working as a support mechanism in the smooth running of the organization.
- Delegation and supervision represent two of the most important business management duties of them all. People management doesn’t always come as naturally to some students as they expect.
- While studying business management courses, students will learn how to measure their expectations accordingly, how to construct strong relationships with those they oversee, earn the respect of their team and generally how to boost morale and efficiency.
PhD in Business Management Course Highlight
Some of the highlights of the course PhD business management are mentioned below:
|Course||PhD in Business Management|
|Eligibility||Post Graduate degree in a relevant subject|
|Admission Process||Entrance test and direct interviews of the short-listed candidates|
|Average tuition fee||INR 2000 to INR 5LPA|
|Average salary||INR 4LPA to 8LPA per annum|
|Top recruiting companies||Morgan Stanley, Microsoft, KPMG, Deloitte, Accenture, Reliance, HCL, Wipro, Infosys, Adani Group, Larsen and Toubro (L&T), Tata Group, Google, Facebook, American Express, Capital IQ, Amazon, Infosys, Airtel, Idea, Reliance, BSNL, Tata Consultancy, Tata Motors, Bajaj, Hyundai etc.|
|Job positions||Managing Director, Senior Marketing Manager, Human Resource Manager, Marketing manager, Data Analyst, Business Development manager, Associate, manager, Business Analyst, Team Assistant, Consultant, Teacher etc.|
Why Opt for a PhD in Business Management?
There are so many reasons why an individual should pursue a PhD in a Business Management course. Students can pursue this course because of the following benefits of the course:
- By doing this course, a good job or starting your own business can be done in a company.
- You can get a good package salary anywhere in the world.
- Candidates can choose the option of Business Management to form the foundation of their career because first of all it is a broad subject which helps you to build a strong foundation for the later years of your career.
- Another advantage of making a career in business management is that it offers a good salary package and by doing this course you can start a job or start your business in government and private sector.
- If you have admirable organization skills, you have very good soft skills and you can take care of all the work of the organization, then you can make a successful and brilliant career in the field of business management.
PhD in Business Management vs PhD in Business Administration, which is Better?
Both PhD in Business Management and PhD in Business administration courses are best at their own places, it only depends on your future career goals.
These two courses may seem so similar that’s why some students get confused among them at the time of selection of course, but there is some difference among them. They are:
|Parameters||PhD in Business Administration||PhD in Business Management|
|Overview||A PhD in business administration comprises the performance or management of business operations which leads to making or implementing of major decisions.||A PhD in Business Management course includes the activities associated with running a company, such as controlling, leading, monitoring, organizing and planning. The business management was delivering unexpectedly outstanding results for the firm so we decided to bring in another team member to grow the business even more.|
|Specialization||Accounting, Finance, Marketing Management Information System, Organizational Behavior, Strategy & Business economics, Urban Land Economics, Transportation & Legist and so on.||Human Resource Management, Project Management or Leadership, Organizational Management and so on.|
|Eligibility||M.Phil. and Post-graduate degree in any discipline with aggregate 55% marks and above. Work experience as a teacher, professionals at a higher level for a minimum of 5 years.||Post Graduate degree in a relevant subject with minimum 50% marks scored from any recognized university.|
|Admission process||Merit List, Entrance Exam held by the college, GD/PI||Based on the Entrance test and direct interviews of the short-listed candidates.|
|Average annual fees||INR 1.5-2.5 Lakhs||INR 2000 to 5Lakhs|
|Top recruiting companies||Boston Consulting Group, SBI, Deloitte, Reckitt Benckiser, Reliance Industries, Nestle, Tata Administrative Services, Tech Mahindra, Capgemini, Aditya Birla Group, etc.||Infosys, Adani Group, Larsen and Toubro (L&T), Tata Group, Google, Facebook, American Express, Capital IQ, Amazon, Infosys, Airtel, Idea, Reliance, BSNL, Tata Consultancy, Tata Motors, Bajaj, Hyundai etc.|
|Job positions||Assistant Manager, Administration Manager, Events Executive, Business Administrative Executive, Business Consultant, Strategic Business Head, etc.||Senior Marketing Manager, Human Resource Manager, Marketing manager, Data Analyst, Business Development manager, Associate, manager, Business Analyst, Team Assistant, Consultant, Teacher etc.|
|Average Annual Salary||INR 7 - INR 17 LPA||INR 4 – 8 LPA|
Which are the Top PhD in Business Management Colleges?
Many universities and institutes offer PhD in Business Management in India. Here we have presented a list of those main universities from where you can do any business management course of your choice. To give admission to the students these universities conduct their own separate entrance examinations.
|NIRF Ranking 2021||College||Average Fees||Placements||Average Starting Salary|
|8||Department of Management Studies, IIT Delhi||INR12,900||HSBC, Larsen, Nomura, Fort, JP, Standard, TATA, CITI, KPMG, Wipro, DELL, Bank of America, Cognizant, Infosys, Ericsson, Wipro, Deloitte, Hewlett Packard, etc.||INR 16.21LPA|
|10||Management Development Institute, Gurgaon||INR 2,03,000||Airtel, DELL, Flipkart, SAMSUNG, Tata Steel, Lime road, OYO Rooms, Accenture, Phonepe, Axis Bank, Nestle, Vodafone Idea, Make My Trip, etc.||INR 20.13LPA|
|24||NIT Trichy||INR 93,500||TCS, Rivigo, Sonata, Cognizant, Sensiple, Hexaware, Berger, TAFE, Mahindra, Wipro, HCL, Genpact, ICICI Bank, Exide etc.||INR 6.5 LPA|
|26||Indian Institute of Management, Kolkata||_||Genpact, ABA, Levis, L&T Powers, HCL Tech, RPG Group, Microsoft, ABP Group, Mahindra System etc.||INR 26.98 LPA|
|92||Narsee Monjee Institute of Management Studies, Mumbai||INR 57,000||IBM, Accenture, American Express, Vodafone, Verizon, Bajaj, Cipla, Eureka, GE, Viacom, JET, WNS, etc.||INR 3-12 LPA|
|101||National Institute of Engineering, Mumbai||INR 9,000||Fidelity, ITC, Reliance, Bristlewne, Hindustan Unilever Ltd., Sterlite, Capgemini, Nestle, Castrol, Dabur, PWC, Asian, Abbott, DR, Zomato, etc.||INR 20.88 LPA|
|151||Christ University, Bangalore||INR 75,000||Deloitte, KPMG, Ernst & Young, Accenture, ICICI Bank, Kantar, Bajaj, Renault, College Dunia, Genpact, IMRB, EY GDS, Airtel, etc.||INR 5.75LPA|
|_||Shailesh J. Mehta School of Management, Mumbai||INR 24,000||Croda, Johnson, Goldman, Procter, UBS, CITI, Barclays, Deloitte, Sybase, Cummins, Whirlpool, Global, HCL, etc.||INR 20.8LPA|
|_||Department of Management (BITS), Pilani||INR 64,292||Hero, Idea, Infosys, JP, Futura, Cognizant, Credit, Citicorp, DELL, Genpact, Oracle, Smart, Wipro, Morgan, Reliance, Procter, etc.||INR 7.5 LPA|
|_||University of Delhi, Faculty of Management Studies, New Delhi||INR 10,480||Amazon, Boston, Google, IBM, Indian, Flipkart, ITC, HSBC, Microsoft, Wipro, Accenture, etc.||INR 25.6LPA|
Ph.D. in Business Management College Comparison
Here’s a comparison between some of the top colleges offering PhD in Business Management courses in the table given below. The comparison of the colleges has been made on the parameters like NIRF ranking, admission process, annual fees, annual salary and their top recruiters.
|Parameter||Shailesh J. Mehta School Of Management||Department Of Management Studies, IIT Delhi||Management Development Institute|
|Overview||Shailesh J. Mehta School of Management is a public business institute, and a part of Indian Institute of Technology Bombay. The school was ranked 11 in India in the National Institutional Ranking Framework Management ranking in 2021. Avenues is the annual international business school festival of IIT Bombay.||The Department of Management Studies, IIT Delhi, is an institute of management education and research in Indian Institute of Technology. Currently runs a two-year full-time MBA program with focus on Management Systems, a two-year full-time MBA with focus on Telecommunication Systems Management under the aegis of Bharti School of Telecom Technology and Management.||Management Development Institute. (MDI) is a leading Indian private business institution in India.|
|NIRF 2021 Ranking||11||9||10|
|Admission Process||Entrance test followed by personal interview||Entrance test followed by personal interview||Entrance test followed by personal interview|
|Average Annual Fees||INR 24,000||INR 12,900||INR 2,03,000|
|Average Annual Package||INR 20.8LPA||INR 6.21LPA||INR 20.13LPA|
|Top Recruiters||Croda, Johnson, Goldman, Procter, UBS, CITI, Barclays, Deloitte, Sybase, Cummins, Whirlpool, Global, HCL, etc.||HSBC, Larsen, Nomura, Fort, JP, Standard, TATA, CITI, KPMG, Wipro, DELL, Bank of America, Cognizant, Infosys, Ericsson, Wipro, Deloitte, Hawlett Packard, etc.||Airtel, DELL, Flipkart, SAMSUNG, Tata Steel, Lime road, OYO Rooms, Accenture, Phonepe, Axis Bank, Nestle, Vodafone Idea, Make My Trip, etc.|
What is the PhD in Business Management Syllabus?
Here is the syllabus of PhD in Business Management as prescribed by various Universities and Colleges that you will have to study in PhD business management course and it can be varied from college to college. Main subjects covered in the discipline are:
|YEAR 1||YEAR 2||YEAR 3|
|Banking||Theory of Finance||Independent Conceptual Study Paper in Entrepreneurship and Small Business Development|
|Independent Study Paper||Independent Conceptual Study Paper in Information Systems||Seminar in Entrepreneurship and Small Business Development|
|Accounting Seminar||Global Marketing Seminar||Conceptual and Theoretical Foundations of Entrepreneurship and Small Business Development|
|Advanced Accounting Theory||Marketing Theory||Independent Conceptual Study Paper in Organizational|
|Seminar in Banking||Managing Human Resources||Seminar in Organizational Theory and Behavior|
|Independent Conceptual Study Paper in Banking||Information Systems Seminar||Organizational Theory and Behavior|
|Independent Conceptual Study Paper in Global Business Management||Strategic Information Systems||Independent Conceptual Study Paper in Marketing|
|Global Business Seminar||Independent Conceptual Study Paper in Human Resources Management||Advanced Operations Management Seminar|
|Global Business||Seminar in Human Resource Management||Advances in Strategic Management|
|Independent Study Paper in Finance||Independent Conceptual Study Paper in Marketing||Strategic Management Seminar|
|Seminar in Finance||Advanced Operations Management||Independent Conceptual Study Paper in Strategic Management|
PhD Business Management Job Prospects and Career Options
By specialization in business management, budding entrepreneurs and future managers get unlimited career options. This field requires professionals possessing dynamic and flexible skills so that innovative methods can be adopted in business management.
If you are expert in solving all kinds of problems and never give up, this can prove to be the best career option for you. However, the following are some popular job profiles for business management graduates:
Here are some of the job options available for the graduates of PhD in Business Management course along with its description and average annual salary offered to that particular job position mentioned below:
|Business Consultant||The duties of business consultant involve, consulting, advising, and creating programs to fill the gaps between actual situations and desired ones, developing management and supervisory skills, assessing the actual situation, improving the work performance and organizational communication, increasing employee motivation and morale, defining the company’s mission, goals and objectives, achieving customer satisfaction and customer loyalty, coaching and many more.||INR 9.77 LPA|
|Management Accountant||The management accountant analyses the financial information to assist business profitability and growth, provide accurate and sound management reporting to assist with key decision making, produce month end and year end journals , prepare statutory and management accounts, contribute to the annual budgeting and planning process, manage capital expenditure, produce financial statements including P&L accounts, cash flows, variance analysis and commentaries and so on.||INR 7.74 LPA|
|Business Analyst||The duties of a business analyst are to identify user needs from user requests and develop strategies by which to meet those needs, to critically evaluate information from multiple sources and clearly indicate quality of final analysis, to communicate complex data in comprehensible ways.||INR 7 LPA|
|Human Resources Manager||There duties of human resource managers include, to enhance the organization’s human resources by planning, implementing, and evaluating the employee relations and human resources policies, programs, and practices, and they help company in organization, communication, negotiation, and also in conflict management and he also provides an ethical scenario to employees to do their job with full of enthusiasm and so on.||INR 8.63 LPA|
|Deputy General Manager||A Deputy Manager usually performs many of the tasks like, implementing business procedures, assisting general managers, controlling cost or expenditure, maintaining quality standards, training employees, budgeting, preparing reports, attending meetings, doing presentations.||INR 28.83 LPA|
What is the PhD in Business Management Career Opportunities?
The scope of PhD in Business Management course is very wide. After pursuing this course candidates can find job opportunities in many fields in India as well as abroad. The scopes available after this course are:
- Having a business management PhD degree opens up a world of very fulfilling and lucrative career opportunities and it is an academic path well worth taking.
- A PhD in Business Management imparts a number of skills that can be applied as part of a corporate organization, independently as a consultant, or even working in the public policy field.
- There is a shortage of business professors nowadays, it means that career opportunities in this field are better than ever before.
- Whether you decide to enter academia or in a private industry, a business management PhD degree is a formidable qualification that can open so many doors. However, there are costs to earning a PhD degree that needs to be fully considered.
- The study of business management course will enable you to identify the trends and techniques which can be used in the day to day business.
- As a part of the Business Management study, the students will get a clear idea about how things work in business management and also enable them to study about the markets, finance, information system, operations management, dealings with the external world and so on.
PhD Business Management FAQs
QUES. What criteria do universities look at when making selection choices?
ANS. Graduate or Post Graduate degree in a relevant subject.
QUES. Can I do a program part – time or in the evenings?
ANS. No, the program is a traditional residency-based program.
QUES. Where does a graduate from a PhD in Business Management find jobs?
ANS. They can find jobs in Finance, Marketing, Information Technology, Banking, management, Sales, Operations, Supply Chain Management, MNCs, Product Development, etc.
QUES. Are visits required?
ANS. The universities ask their short list of favored applicants to visit them or participate in a video conference before they make final selection decisions.
QUES. Can I request an interview when applying?
ANS. A prospective candidate may be invited by the department for a campus interview before the admission decision is made.
QUES. I am an International student. Do I need to take the TOEFL?
ANS. Yes, all international students must submit a valid TOEFL score (less than two years old) in order to be considered for admission.
QUES. Can I keep my job and still pursue a PhD in Business Management course?
ANS. A PhD in Business Management course is full-time; students cannot work while enrolled in the program.
QUES. What will this course cost me if admitted?
ANS. The Average cost for pursuing PhD in Business Management is INR 2,000 –5Lakhs while the exact fees vary from college to college.
QUES. Can I apply to the course as an undergraduate student?
ANS. Yes, your undergraduate degree will need to be complete prior to the start of the PhD in Business Management course.
QUES. Can I apply to more than one area?
ANS. You must narrow down your choice before applying & apply to one area only.