I am preparing for GMAT since January 1 2014. It is my new year resolution... to get 750+ The background:
I am 30 years old from India Career Goal in life:
I have 9.6 years of experience in IT.
I have done my Bachelor degree in Maths, MS in Software Engineering, PGDIT, a 2 year Post Graduate Diploma program in IT
Have completed 5+ Industry standard certifications for Software Testing and Test management
I also own an online business for about 2 years now - Into Internet Marketing
To get a PhD in Management (organizational behavior is my primary interest area but not really fixed if that is what I want to do my research in) and become a CEO of my own company (OR) be a CXO for someone's company
So, to do a PhD I first need a MBA. However, a friend confused me today :D She said why do you want to do Post Graduate Programs in Management. With you experience, you can go for Executive MBA which is valued even more in the current market.
Besides, I am not financially too good to spend twice - once on PGP and again on PGPX (Executive MBA).
Any advice? Also, what is the eligibility for PGPX? Is 10 years enough? Is GMAT still required for PGPX. What are some decent B Schools that provide Executive MBA courses?
To give you some additional information of Indian education system - Only UGC recognised universities can give you a post graduate degree or Phd.
I am not sure which all Indian universities accept GMAT for their MBA admission. All IIMs , ISBs and top 20 B schools, excluding FMS new Delhi, are not UGC recognised, but they accept GMAT. So they run parallel courses PGDM for MBA, fellowship for PhD. So even if you complete fellowship, you can not add officially a 'Dr' in your name.
More importantly, Phd is for those who are interested in research or education field, a company CEO/CXO doesn't need a PhD.
PGP and PGPX are more or less same in India - the have roughly same number of teaching hours, but PGPX crams all those hours in 1 year, and PGPX 1 and half year + internships etc. Hence, PGP is more elaborative in out of class activities and have younger participants, who are still in process to explore their career.
At your situation, it will be difficult to adjust with young PGP class (though it depends on you), so PGPX sounds good option. But some institutes do not take PGPX qualification valid for PhD requirement, so you need to check where you are going to do Phd.
Also, be prepared PhD takes longer to complete (>2-3 years), and if you are doing from some Tier-II and Tier-III university, be ready for corrupt practices. To say honestly, this will give you only degree and hardly any knowledge.
If you can qualify JSR fellowship, you will get INR 20K approx/month as fellowship to fund your PhD.
Your friend is correct in saying PGPX got more demand in market, but it has nothing to do with degree. PGPX candidates are experienced, hence they are preferred over PGPs.
Moreover, GMAT Score is a means, 750 doesn't guarantee Harvard. For you, I would say keep on exploring your career options and settle your target, otherwise you will be travelling in a fancy road that will lead to nowhere.
Alternatively, PhD from US/Europe/UK/Australia are good options - you don't need MBA, and at most universities you will get scholarship. But the competition is intense, they prefer younger applicants.
Hopefully, I helped.
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Press Kudos, if I have helped.