<p>If I plan to work for private firms, is a master and PhD in business equivalent? I heard the differences are just the research part. True?</p>
<p>Yes, a phd will require you to make a thesis. Firms don't really favor one or the other. IF you get a PhD you will be called a "doctor," if you get an MBA you will go to school less, save more money and stress. So its a personal preference.</p>
<p>A Ph.D in business is for academia, not professional work. It is not something you get after or instead of an MBA.</p>