What is an MBA?
An MBA or Master of Business Administration is a 2-year postgraduate course. The MBA course is over four semesters and focuses on business management and administration relevant subjects like accounts, finance, economics, sales, marketing, human resources, organisational behaviour, and others. The MBA program is for those who want to make a career in business administration. The MBA course is a blend of theory and practical and equips students with exceptional people skills to function in the real business/ corporate world.
An MBA program helps candidates acquire communication, managerial, leadership, and critical thinking skills, among others. The average MBA course fee ranges between ₹ 50,000 to ₹ 20,00,000 per year. MBA aspirants get admission into the MBA program only if they have an undergraduate degree with at least 50% aggregate passing marks.
What is a PhD?
A PhD or a Doctor of Philosophy is a 3 to 6-year doctorate program. The PhD program has several semesters, but each semester focuses on a particular subject. Candidates can pursue a PhD in practically any subject – a PhD in finance, a PhD in economics, a PhD in information technology, a PhD in English literature, and so on. A PhD program is perfect for those students who want to get into a career niche. A PhD is a highly research-oriented and purely theoretical course.
Candidates must study their chosen specialisation in depth as a PhD is an immersive and intensive course. There are almost no extracurriculars or interactive participation in a PhD. Students have to focus on carrying out deep research about their particular field of study. A PhD program helps candidates acquire philosophical, research, analytical, and critical thinking skills, among others.
The average PhD course fee ranges between ₹ 50,000 to ₹ 20,00,000 per year. PhD aspirants get admission into the PhD program only if they have a relevant post-graduate degree, an undergraduate degree, and a 10+2 qualification with at least 50% aggregate passing marks in each.
MBA vs PhD: What is the difference between MBA and a PhD?
|Full form||Master of Business Administration||Doctor of Philosophy|
|Course duration||2 years||3-6 years|
|Eligibility criteria||Minimum 50% marks in UG + a 10+2 qualification with a minimum of 50% aggregate marks||Minimum 50% marks in UG + PG + a 10+2 qualification with a minimum of 50% aggregate marks.
Candidates must also clear the UGC-NET, GATE Exam, or any other entrance exam with the minimum qualifying score, a research proposal, a letter of recommendation and work experience.
|Average fees||₹ 50,000 to ₹ 20,00,000 per annum||₹ 50,000 to ₹ 20,00,000 per annum|
|Average annual salary –
PhD vs MBA salary in India
|₹ 5,00,000 to ₹ 15,00,000 per annum||₹ 6,00,000 to ₹ 20,00,000 per annum|
|Domain of Study||Business Management, Administration, and Development||Subject-specific in-depth study|
|Entrance Exams||CAT, GMAT, NMAT, MAT, XAT, ATMA, SNAP, etc.||UGC NET, RMAT, JNUEE, GTU PhD Entrance Exam, etc.|
Insurance & Investment
Logistics & Operations
Research & Development Executive
|Type of study||MBA is more practical and consists of real-world applications with only a few elements of theory.
MBA allows you to focus on two specialisations and develop practical & industry-relevant skills in them.
MBA comes with a lot of extracurricular activities and makes students better at communication, leadership, and teamwork.
|A PhD is a theoretical doctorate program and involves a lot of consistent research.
A PhD revolves around a single subject and requires candidates to study it in depth. It is an immersive and intensive course.
There are almost no extracurriculars and interactive participation in a PhD. Students have to focus on carrying out deep research about their particular field of study.
|Nature of jobs||Jobs after an MBA are more practical-based. Candidates can enter a bunch of fields.||Jobs after a PhD are more academia and research-oriented. Candidates have to choose a niche and are eligible only for a few select roles.|
|Types of courses/specialisations||● MBA in Finance
● MBA in Marketing
● MBA in Business Analytics
● MBA in Human Resources Management
● MBA in Accounting
● MBA in Information and Technology
● MBA in Project Management
● MBA in Banking and Insurance
● MBA in Sales Management
● MBA in Banking and Finance
● MBA in Digital Marketing
|PhD in Science –
● PhD Chemistry
● PhD Physics
● PhD Mathematics
● PhD Biotechnology
● PhD Biochemistry
PhD in Arts –
● PhD English
● PhD Economics
● PhD History
● PhD sociology
● PhD Political science
● PhD Psychology
PhD in Management –
● PhD in Management Studies
● PhD in Marketing
● PhD in Business Administration
● PhD in Finance
● PhD in HR Management
● PhD in Operation Management
Top MBA vs PhD colleges in India
Here is a list of the top MBA vs PhD colleges in India with their annual fees. Some colleges also provide MBA vs PhD scholarship:
Top MBA colleges in India
|College||Average yearly fees|
|IIM Ahmedabad||₹ 23,00,000|
|IIM Udaipur||₹ 21,00,000|
|IIM Ranchi||₹ 17,60,000|
|IIM Lucknow||₹ 20,10,000|
|IIT Delhi||₹ 10,24,000|
|IIT Kharagpur||₹ 1,64,000|
|IIFT New Delhi||₹ 18,78,000|
|NITIE Mumbai||₹ 14,60,000|
|Symbiosis Pune||₹ 5,60,000|
Top PhD colleges in India
|College||Average yearly fees|
|Indian Institute of Technology||₹ 59,000|
|Indian Institute of Science||₹ 35,200|
|Indian Institute of Technology Delhi (IITD)||₹ 42,900|
|Indian Institute of Technology Madras (IITM)||₹ 19,670|
|Bombay College of Pharmacy||₹ 1,50,000|
|Veermata Jijabai Technological Institute (VJTI)||₹ 81,500|
|Manipal Academy of Higher Education||₹ 59,000|
|Indian Institute of Technology Kharagpur (IIT-KGP)||₹ 50,000|
|Indian Institute of Technology Kanpur (IITK)||₹ 64,050|
To conclude: MBA vs PhD – which one should you pursue?
An MBA or PhD opens the doors to a different but immense scope of opportunities. Both MBA and PhD graduates are eligible to get prestigious and high-paying jobs. However, PhD candidates are sometimes eligible for a higher salary package. Then again, there are a limited number of jobs available for PhD graduates. MBA graduates can enter a diverse array of fields and start earning immediately after their graduation. On the other hand, PhD graduates might have to wait a few more years after their post-graduation to start earning, usually well into their 30s. Pursuing either an MBA or a PhD can be rewarding.
What you should seek depends on your interests, passions, and the relevant UG you pursue. If you want to delve further into your PG study, then a PhD would be appropriate, but if you want to start working immediately after your post-graduation, an MBA would be a better fit. If you’re confused between an MBA or a PhD, you can reach out to experts at various educational platforms in India, such as Sunstone guidance counsellors.