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At PhD in Management.org, we cover a variety of topics about the management field, specifically focusing on PhD degree programs. Some of these topics include salary and job advancement opportunities for PhD degree holders, types of programs and financial aid options available, and online institutions offering accredited degrees in the field. Read more...
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PhD in Management Salary
Just to be able to say that you hold a PhD in any field is a great achievement and accomplishment that many people will never realize. If the qualification is in management, then you are in a very promising position all around. The PhD in management option is a degree that will put you in the position for many career opportunities. Not only will you qualify for top-level positions but also salaries to match.
Factors That Affect Salary
The potential salary you could earn is dependent on many factors. Education, experience, company, and location all play a role in your earning potential. As a PhD holder, you are already in the position to land a top-level job; however the experience you have in the field is also important. Hands-on experience and work in your field is essential. The type of company and your location also help determine your salary. Expect to earn more working in the city as opposed to rural areas. For education, beginning professors generally earn learn until they’ve worked their way up to full-time professors. Obtaining tenure is another way to increase your salary in education.
For management professionals who choose another route, aside from education, the field you enter plays a big role in your salary. Most fields require skilled and qualified managers, so candidates can cater their management interests toward the field that best suits their career goals. This could be finance, human resources, or any number of other fields. Your role and title will help determine your earning potential.
Average Salary with a PhD in Management
The most common career track for someone with a PhD in management is to work as an assistant professor at a college or university while working their way up to becoming a full, tenured professor. In this position, you not only teach classes but also work on research for the university as well. Many also publish papers and books. According to The Bureau of Labor Statistics, the median annual salary for post-secondary teachers was $62,050 in 2010. This position does require a PhD, and salary levels can expect to increase with experience and tenure. The BLS also states that employment in this field is expected to grow by 17 percent between 2010 and 2010, as enrollments in colleges and universities continue to increase.
Salaries for Management Careers
Not every PhD holder will decide to go into teaching and research, or may choose another career before teaching. There are many opportunities available for these highly qualified professionals. These positions may include top tier management or executive jobs, and could involve working in a number of different fields. One great aspect of a management PhD is its versatility; graduates have many options in which path to take their professional career. The following are some of these career choices, along with their corresponding medial annual salaries:
- Advertising, Promotions, and Marketing Managers: $108,260
- Compensation and Benefits Managers: $89,270
- Financial Managers: $103,910
- Human Resources Managers: $99,180
- Postsecondary Education Administrators: $83,710
- Top Executives: $101,250
- Training and Development Managers: $89,170
Keep in mind, that these positions and salaries are based on having a bachelor’s degree or master’s degree. They don’t take into account having a PhD. This higher-level degree could help you earn even higher salaries in these fields.