Ph.D. in Management 

at NIT Rourkela, Rourkela

A PhD in management candidate's salary in India might vary significantly based on a number of variables, including their experience, area of expertise, location, industry they work in and the reputation of the university they attend. However, the following provides a general summary of the pay scale for various stages of a PhD in management:
Entry-Level: INR 6 - 10 LPA
Mid-Level: INR 10 - 20 LPA
Senior-Level: INR 20 LPA and above 

Candidates with a Doctorate in Management degree expertise are highly sought after by consulting firms and corporations for their analytical and problem-solving skills. They may work as  a business development specialist, do management consulting or even start their own business. Ph.D. In Management helps them to focus on research and develops project management, leadership, public speaking and teamwork skills.

CAREER OPTIONS AFTER A Ph.D

Let me first try to dispel the most commonly held myth, "Ph.D is a training to become a university professor". This is not true. If a professor graduates 5 Ph.Ds in his lifetime, and if all of them get employed in academia, then the size of academia needs to increase five fold. However, this does not happen.

The proportion of Ph.Ds that join academia is not very large, and is definitely not the most preferred option or the last resort. Before delving into this issue further, we need to understand that a Ph.D is just not a degree. It is the training that is valuable than the actual "Dr." stamp itself. In a good Ph.D, it is exected that the candidate would have engaged in state of the art research. He or she would have understood deep research issues and would have made a modest effort to solve a few problems.

Furthermore, he would be used to putting long hours at work, solve extremely complicated problems, and handle frustrating situations with ease. These skills are just not required to be academic, they are required in almost all other disciplines such as industrial R&D, finance, and public service. The addition of a Ph.D to a resume is two-fold: knowledge and skills. Any job can utilize either of these to different degrees. Let us look at the common career options.

Traditionally, the most preferred jobs for Ph.Ds have been industrial R&D Labs, university positions, and start-ups. Industrial R&D facilities typically have large exclusive Ph.D-only groups. These groups engage in research, design new products, and also take part in long-term strategy decisions. The average salary in an industrial R&D lab is much more than in pure development centers. In India, research lab salaries are about 50% more. This means that a person with a Ph.D joining a research lab at 27 years of age is significantly better paid than his classmate with 5 years of experience after B.Tech.

Besides, getting good management education from an institute, you need to keep enhancing your logical reasoning power, analytical abilities, some inclination towards financial accounting with a good command over use of computers.