Holding a Ph.D. degree or carrying a Doctorate is an academic honor. Many professionals are beginning to realize the value of a Ph.D. earned by the top programs offered by IIMs in India. The Ph.D. programs and Fellow Programs in Management (FPM) at the IIMs have started gaining more popularity. These programs provide the best option to lead yourself in teaching and/or consulting. The value of a Ph.D. largely depends on what you want to do after your Ph.D. It also depends on where your Ph.D. degree is from. Selecting the right academic premier institution like IITs or IIMs to pursue research will boost up the value of a Ph.D. Nowadays a Ph.D. degree from IIM is valued more because of the advanced research culture with better standards adopted by these institutes. Though there are some extraordinary contributions to research from other institutes as well, a Ph.D. degree from IIM is certainly valued more.
The Value of a Ph.D.
The value of a Ph.D. seems obvious. Most Ph.D. graduates not just choose rich and rewarding academic careers but also utilize their research skills and subject knowledge in different ways. A doctorate can also start to work in top occupations, including technical, administrative, and management roles, along with conventional university lectureships. The skills and experiences gained during the years of academic research are also useful in the wider job market. Ultimately much of the value of a Ph.D. will depend on where you decide to go and, of course, what you get out of it.
Most Valuable Ph.D. Degrees
Ph.D. studies are the highest level of education you earn in a particular field. Gaining more years of higher education is always good for your earning potential. The earning potential and capabilities greatly depend on the discipline you’ve chosen in Ph.D. To find out which is the most valuable Ph.D. degree with the best-earning potential, mentioned below are some of the highest paying doctoral majors.
Ph.D. in Statistics: Commonly in businesses like health care, government roles, technology, and nonprofit organizations, statisticians are in high demand to perform statistical analysis. It’s noteworthy that the most valuable Ph.D. degree in statistics helps statisticians to stand out even more in their profession.
Ph.D. in Biomedical Engineering: Another most valuable Ph.D. degree is in biomedical engineering which opens doors to research opportunities in various fields. This field is continuously advancing and requires experts well versed with practical and theoretical knowledge to work in industries like healthcare, manufacturing units, research centers, and universities.
Ph.D. in Physics: To build a career in academics and research, physicists require a doctorate degree. Physics plays an important role in advancing products and technology from land to space. A Ph.D. degree in physics is in demand in a wide variety of industries.
Ph.D. in Engineering: Ph.D. in engineering is the highest degree offered in its field. The degree provides several areas for independent research including chemical engineering, physical engineering, computer science, mechanics, etc. The doctorates land up in holding dignitary positions in organizations as director of engineering, technicians, and project managers.
Ph.D. in Pharmacology: A Ph.D. in pharmacology gives training in the study of drugs and chemicals on living organisms. It offers a career as a researcher or pharmacist in various health organizations. This program helps the students build their expertise in research by making them prepare for biochemistry, cell biology, molecular biology, neuroscience, and physiology disciplines.
Ph.D. in Economics: The subject economics is broadly divided into two segments micro and macroeconomics. Pursuing a Ph.D. in economics mainly focuses on economic analysis with segments including micro and macroeconomics, theoretical and applied economics, normative and positive economics, and rational and behavioral economics. The most valuable degree of Ph.D. in economics is elected to work in research and academics or moving into consulting roles of finance for any organization.
IIM Ph.D. Program
The full-time Ph.D. programs of the Indian Institutes of Management offers students advanced studies and research in different specializations related to Management studies. The IIM Ph.D. programs are designed to prepare students for opportunities in teaching and research in related disciplines, and for opportunities in public, private or any other organizations. On successful completion of the program, a student is awarded a Ph.D. degree, in his/her area of specialization.
A ph.d. in Management from IIM generally has a duration of 4.5 to 5 years. Students first complete coursework covering advanced study in the area of specialization as well as a review of general management subjects. Meanwhile, students also gain experience in a range of research skills, approaches, and various other methodologies to be good researchers.
After completing a comprehensive examination in their chosen area, students work on their doctoral submissions, undertaking original research projects to make a significant scholarly contribution in their field.
Students of Ph.D. in Management at various IIMs also receive a full fellowship that covers the cost of tuition, accommodations, other program expenses and a stipend for a living allowance.