Leaving A Six Figure ($100k-500k) Income To Pursue A PhD in Business Administration? Video
Do people leave a six figure income to pursue a PhD in Business Administration? Absolutely. Probably about 1/4 - 1/2 the people that are professors at a business school left jobs where they were making far more than they would ever make as a Professor.
How is it possible to leave a well-paying job to earn a PhD? The key is not to think about what they lost, but what they gained. These people can easily go back into the industry careers and do well. They would probably make more now that they have a PhD, but they gain some fundamental things that are hidden in plain sight.
1. Autonomy and Creavity. Professors tend to have a fair bit of autonomy to think about what they want to think about. Indeed, people that are very focused on the career would even look down on non-original thoughts that are derivative of someone else’s thoughts.
2. ‘The Hunt’ or ‘The Build’. One of the most rewarding aspects of the career is that you are constantly on the hunt for a new idea or building yourself up over the course of becoming a PhD.
3. Being Able To Just Think. I think it is wonderful to be able to just sit and think about ideas, and be around other people that are intelligent as well who also just think.
4. Being Able To Drop Off Your Kids. A big thing is not the hours that you work, but the reflexibility around the hours that you work. Many people that have families make the academic choice to get a bit more flexibility.
5. An Increase In Status. Some people find the increase in status rewarding, however, I don’t think this is the main reason why most people like the career.
Many people leave well-paying jobs to pursue a PhD, and this is very common for PhDs or DBAs in a Business School.
Check out:
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MBA or Masters? Does It Matter If You Have A MBA or A Research-Based Masters For A PhD in Business
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Executive PhD Programs & Executive DBA Programs: Pros and Cons Of These Business Doctorate Programs
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What Are The Benefits Of Getting A Doctorate / PhD in Business?
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Doing A PhD: Common PhD Concerns In The Social Sciences
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What Is The Size Of PhD Classes?: Why Are PhD Classes So Small?
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2 Masters Degrees Vs PhD: Is It Easier To Find A Job With Masters / MBA Than With A PhD?
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The Biggest Lesson Learned For A PhD
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Imposter Syndrome in Academia: How Did You Deal With Self Doubts With A PhD?
https://youtu.be/FtCGTEuDoWo
Why Do Dual PhDs, Joint PhDs, MBA/PhDs, JD/PhDs, And PhDs With Other Programs?
https://youtu.be/HQpQ-JnpoRk
Negotiating Doctorate / PhD Stipends in Business Administration Programs
https://youtu.be/aZr91cUOwv0
PhD Options After An MBA With No Recognition
https://youtu.be/Hjbvjp-P2k8
Dr. vs Professor: What Do You Call Someone With a PhD?
https://youtu.be/F7z4HgMQQSs
PhD Interview: What Does An Interview Mean For A PhD / Doctorate (In Business)?
https://youtu.be/E8f8_DulTrQ
Should You Start A Doctorate / PhD In Business To Change Careers?
https://youtu.be/sHZ4ozp2Ovs
Do You Need Management Experience To Do A PhD Or Doctorate In Business Administration?
https://youtu.be/5N8VcKHGKqM
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David Maslach is a research professor of entrepreneurship, innovation, and business strategy, I discuss topics, such as behavioral science, strategy, innovation, and entrepreneurship, and apply these to my new peer proofreading and editing platform. Topics include the sharing economy, altruism, investing in technology, starting a business, and bounded rationality. My favorite videos pertain to incentives, goal setting, and learning from failure to drive behaviors such as weight loss, stopping telemarketers, creating novel technologies, and creating new movements.
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