DBA scholar’s research will help reach millennial customers
Marine veteran Joe Mulla ’22 DBA is using research and data from his dissertation to help his company reach and connect with millennial customers.
A senior vice president with Truist Financial since October 2022, Mulla focused his research on ways financial technology, confidence and self-efficacy impact the relationship between financial literacy and millennial saving behavior for his Doctorate in Business Administration dissertation, “Financial Literacy and Wellness.”
Mulla, a May 2022 graduate, is a millennial, and he has watched his peers struggle with finances. So, his goal is to make a difference in their lives as well as his own.
Data from the Social Security Administration indicate trust funds are expected to be depleted by 2037, unless Congress makes changes. This could have an adverse impact on millennials, Gen Z and Gen X unless they have a financial plan for the future. Millennials make up 22% of Charlotte’s population.
Mulla’s research points to a direct relationship between financial literacy, someone’s level of knowledge relating to personal finance concepts and their saving behavior. Understanding the things that impact this relationship is vital due to the complexities of people and the lives they lead.
“Finance can be very binary; numbers on paper, projections, charts,” Mulla said. “What we often forget is that there are human beings relying on sound financial information and access to products and services to provide for their families and live successful lives. Millennials are the largest and most diverse generation of people to ever enter the workforce, and they’re doing so with different products and resources than prior generations. We as financial professionals and academics must meet them where they are and help them become financially independent with easy access to the information and products they need for success.”
The U.S. Marine Corps taught Mulla discipline, which he said benefitted him in the pursuit of higher education. His work life was disrupted by the COVID-19 pandemic, so when his employer offered a severance package in 2020, Mulla seized the opportunity to pursue his DBA.
“Maximize every moment,” said Mulla. “The DBA has real business applications, and I am investing in my city academically and professionally through this degree. It is a win for everyone.”
DBA program provides a foundation for success
Mulla credits UNC Charlotte’s DBA program for his success, and professors like Reginald Silver as a valued mentor and friend who lent leadership and guidance.
“Dr. Silver knew the degree was more than just checking off a box for me,” Mulla said. “He taught me that what you put into something is what you will get out.”
Sliver, who now serves as Belk College of Business associate dean for graduate programs and executive education, said Mulla was a model DBA scholar.
“Joe was always pushing to complete the doctoral process as efficiently as possible,” he said. “As an alumnus of the program, he has already started giving back by serving as an ambassador for the DBA program and providing mentorship for other scholars. Joe is destined to lead, and I am happy to have been a part of his academic journey.”