I have recently gotten a wild hair about enrolling in a PhD program in business (focusing on decision sciences or operations) and I have a couple of questions. Before I get too beat up, I am aware that among all the reasons to embark on a quest for any flavor of PhD, “a wild hair” is probably not a good one. I have been thinking seriously about teaching for a decade, and find business a fascinating subject (but an unispiring career in practice).
Here are my questions:
How hard is it to get into a top program? I can beat the average GMAT scores of all of the top MBA schools, but I have a weak undergrad GPA (2.95) in an unrelated field (English). I do have good work experience with time spent as a military officer and later as a manager at a leading internet-media company.
Is it really as hard as they say? I ask this because in both the military and at my current job, I put in very long hours and work very hard. I sort of think that a lot of the “it’s the hardest thing you’ll ever even think about doing” talk is there to discourage self indulgent undergrads who may very well not understand what real hard work is like.
Any thoughts on what the job market is like? I know that PhD’s in the humanties sometimes have trouble finding academic work, but I get the feeling that is less true in business.
Any other thoughts / words of wisdom, etc. would be appreciated.
Can’t speak to a PhD personally, but in 8 weeks I am finishing an MBA in that I did while working full time. In that time, I have met numerous PhD students. On to your questions
The top schools are insanely competitive, however a “low” GPA can be compensated for by other factors. A very high GMAT is good, and in my experience, schools like applicants with real world experience rather than someone who is just going to grad school because they don’t know what else to do when they graduate undergrad. As for your GPA, were you hurt by your first few years of college? Most schools weigh your last 60 (or similar) credits much more heavily than your first half. Some look at your last 2 yrs exclusively. Bottom line, don’t give up on your top choice, but have a least another one or two schools you’d be happy with
Difficulty is like a concentrated version of undergrad school. More material, less review, more independence to get in done on your own. It does seem overwhelming at times, then there are semesters that are relatively easy. On the other hand, youi are not taking any “junk” classes like you might have to as an undergrad. If you’ve been in the military and the real work force, you should do fine.
The $1,000,000 question. The more math intensive business sections (Econ, fianance) are always in high demand in the private sector. In addition, consulting firms are always looking for good people. With a PhD and your work background, you’d be in high demand. You did say you’d prefer teaching though, and from what I’ve seen, many universities are having a qualified (read PhD) teacher shortage, since many PhD’s are going into the private sector chasing the big $$. Keep in mind, this is today’s market. You won’t be looking for work for 4-5 years (maybe longer )
I dunno about the PhD program here, but I know Michigan’s MBA program (pretty highly ranked) seems to look favorably on military service. I know some West Pointers who didn’t fit the perfect profile but got in anyway.
The PhD students I know from the business school here are brilliant. They’re also very well-supported while they are here, working on interesting projects, presenting all over, and getting published. It’s a demaninding life, but they seem to be into it.
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