Is a PhD an entrance ticket for an executive board?

Abstract

This article deals with the question of whether many years of academic training can be the foundation for a successful management career. An analysis of all ATX, DAX and SMI-listed companies was carried out and the highest level of education of all executive board members was analysed. Statistical analyses were used to establish the connection between education and the position and function on an executive board. In addition, it was also analysed whether there is a statistical correlation between the composition of the board of directors and gender. There is a relationship between an academic education and the likelihood of being able to pursue a career on an executive board. However, a PhD is not necessarily a guarantee. Currently, gender also has a significant influence on management careers. This article provides an in-depth insight into the main stock indices in the German-speaking world. It should also serve as motivation that a proper academic education is a solid basis for one of the most sought-after jobs in a public limited company.