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PhD in Management - Private Sector Options as Fallback


MgmtPhD1
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Hello- I was wondering if there are decent private-sector options as a fallback if one pursues a PhD in Management and fails to find a suitable academic placement. I do prefer an academic research position as a professor which is why I would prefer a PhD to an MBA. However, I know that the academic market is rough and would like to know if there is a decent fallback option for those who fail to place. Assume a top-10 program.
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Hello and welcome to the forum.

 

Academic market is 'rough'... I suppose that depends what you are comparing it to. Business PhD's in general are relatively easier to land an academic position compared with other fields. if your ultimate goal is to land an academic position, assuming top-10 program... , I very much doubt you will not find a position... if you are only willing to accept Top-10 or even T30 schools as a placement, then your potential job opportunities become much more competitive, and yes, it is 'rough'... however, to land simply somewhere should not be an issue if you are well trained and publish.

 

private sector 'fall-backs' are always an option for management PhDs, as many consulting firms would value research experience and high level stats training. However, the issue is if they can hire a master's degree candidate for less, why wouldn't they? The assumption is that you may want more simply because you have a PhD....

 

There are potential drawbacks to both sides... When all is said and done, if you ultimate feel the urge to pursue academic research for a career and can land a T50 placement, you (generally speaking) should be well trained enough to land some sort of academic position.

 

Without more details about your potential questions and concerns, it may be difficult for other members to pitch in better advice.

 

Best of luck with your decision.

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The market is the opposite of rough. I am looking for a job in a Management field this year and the ratio of people to jobs is about 1:1.

 

So assuming a degree from any AACSB accredited doctoral program the probability of you not finding a position that rewards you for research and teaching is asymptotic to zero.

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Thank you everyone who has replied.

 

My concern is general insecurities about spending so many years in a program where the outcome is so uncertain. Also I am willing to relocate after the program but would have to consider my partner's career so certain locations (such as very rural places without any non-academic jobs in the area) would just not work.

 

I don't think my standards for the rank of the university are unusually high, but I would want something tenure-track (ie not adjunct) that pays enough to live on and in a location where my partner can find a job. If I cannot get a job that meets those criteria, I'd probably rather go back to the private-sector.

 

Are my expectations reasonable? It seems that everyone is so accomplished and dedicated that I'm concerned that I just won't live up to standards.

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Hi everyone!!

 

Is there something similar to an academic job posting board for OB/Strategy folks where current job vacancies and job market candidate CV's are posted similar to what is there for PhD in marketing candidates Jobs | Marketing Phd Jobs

 

It would help some of the prospective candidates evaluate job opportunities for the Management area as well.

 

Thanks!

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Also I am not sure if it is best to just focus on academics/research, or if I should do some consulting or internship on the side (perhaps over the summer). My preference is an academic placement so I don't want to divert too much time from that goal, but at the same time it might be good to maintain some consulting/private sector skills in case the academic placement does not materialize.
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My concern is general insecurities about spending so many years in a program where the outcome is so uncertain.

 

I don't think you're looking at this quite right.

 

First, as rsaylors said, the market clears every year. Everyone gets a job. Well, nearly everyone. So I'd argue that the outcome isn't uncertain at all; it's very certain.

 

There are some uncertainties, though:

 

1. Where you get a job. You've indicated location matters, so that is a limiting factor.

2. Whether you have the research chops to land you a tenure track job at a research university. This is a question that you have to answer--and, in my opinion, is the question you are really trying to answer. Unfortunately, we can't answer that. Your success as a researcher is a function of your passion for your area of research, your ability to find interesting and relevant questions to try to answer and your willingness to work really hard.

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I do see an increasing number of phd student going back to the industry. Yes the market is rough in OB/Strategy, so when you have location constraints you might as well explore opportunities outside academia. In most of the case though, you won't catch up with people that have accumulated work experience instead of going for a PhD (outside Germany, which is a special case).
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If you're willing to go to a teaching school, even if you're geographically restricted (assuming you're in a fairly populous area with enough teaching schools nearby), and you're not difficult to get along with, you'll find an academic TT job.

 

I don't know if you are strategy or OB, but if you are OB and are interested in going into industry, I would recommend attending SIOP conferences. There is a big job market there for the private sector. While AOM interviews are primarily for academic jobs, if you don't have a job by the end of the fall, you could look into industry I/O postings.

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Thank you to everyone who has replied. To clarify I am not restricted to one specific area, but there would need to be some medium to large city within driving distance, rather than a university that is in a very rural area without any economy beyond the university itself in the area. My partner can relocate but I cannot relocate him to where there are no non-academic jobs as he is not an academic. Does this seem reasonable or should I be concerned that I would be too restricted and not find a job? I would probably rather go back to consulting than to do a teaching-only job although something that is half research and half teaching would be fine. I do feel very committed to research and am really enjoying my research thus far, but feel like the expectation is that you cannot have family if you are committed to academia. When I applied to graduate programs the location issue was not a huge problem, as there was only 1 program I was interested in that was in a location that would not have been acceptable that I eliminated from my list, so I am not sure if I'm being overly concerned. Edited by MgmtPhD1
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OP: I am sorry but I fail to understand the issue here. Almost all the urban centers in USA have several business schools within commuting distance. Landing a tenure track position at a T50 research school will always be competitive. But other than that, the OB job market is pretty robust. Worse case scenario would mean a 3/3 teaching load with 100K+/Year. Even at those schools you can negotiate lower teaching load for first 2/3 years.
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Mainly I was concerned about the possibility of receiving decent academic job offers in locations that would not work for me, but not receiving any in locations that would be feasible.

While there are plenty of schools out in the sticks, most are near medium to large cities (that's where the people are that need education). Just don't apply for jobs at places you don't want to teach. You will be fine.

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OP, I'm on the job market this year and only applying to schools that are in or near an urban area--I have the same issue; I need a place where my spouse can find a job (like your spouse, it's not in academia). I've applied to 30+ schools. And, I did not apply to any ivy league schools or primarily teaching schools. I also didn't apply to places where we didn't like the location and/or climate, even if it was urban. I had 11 AOM interviews. Of course, I don't know what will happen, but based on my (somewhat strict) criteria, there were still loads of places to apply to.

 

You will be FINE, I promise. And, I can't say about strategy, but in OB, people are very supportive of having a family. I wouldn't advertise that you have kids in an interview, but our field is quite family-friendly. I've actually been advised to bring up my spouse's career in interviews with schools that are really great for us, location-wise. They want to know if you fit, but also the odds that you'd accept a job offer.

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