If you want to teach at B-schools or become a researcher in the field of business, PhD is the right option for you. If you merely want to pursue a PhD to elevate your job profile, you might be headed down the wrong road. Most top level professionals in managerial roles do not have a PhD. To reach the top of the food chain quickly, PhD isn't the answer. At best, you would become a consultant for a corporation, but even that role isn't a guarantee in the first place.