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Here is my dilemma. I'm 34 years old. I'm interested in obtaining a Phd in Management/Information Systems from an international university such as McGill or Univ of Toronto. The reason I want to obtain a Phd is to possibly fast track to VP or Director level at a major consulting company. My background includes BBA in Finance from a regional university in Texas (Summa Cum Laude), MBA from Houston Baptist University, 11 years of management and technology consulting (primarily large enterprise level business intelligence/data warehousing projects) at BearingPoint/KPMG Consulting, SAIC, several boutiques and several years in the high tech sector at NetIQ (now Attachmate). My recent job role is Architect/Project Manager. My professional designations include PMP certification and several BI software cerftifications. Additionally, I'm of Korean descent, born in Seoul and am fluent in the language. My current annual salary is $150k. Taking into account all those factors, does it make sense for me to pursue a Phd or even a Masters in Mgt from a global top 100 program to potentially 'fast-track' to an executive level or does the ROI make it not a worthwhile option? Also, what are the chances of acceptance? Any insight or suggestions are appreciated. Thanks.
In my opinion, it only makes sense if you have concrete indications from those above you or from your own knowledge of your sector that a PhD would result in a faster career pace. Relevant questions to ask yourself and others include: are you already moving at a faster career pace than is typical for someone with your experience level? What degrees do the people hold who are in the positions you want to eventually reach? Would you want the credential and/or the intellectual experience of earning a PhD even if you knew it would not significantly improve your career progress?
Yours is basically a company-specific and industry-specific question that your peers and superiors could help you answer better than I. Your age would probably not be an impediment to admission provided you explained persuasively in your application why you believe you need the degree. But whether schools will admit you and whether you really need the degree are two different questions.