28th Apr2020

The Advantages of Studying for a Doctorate in Business Administration

by James Smith

Earning any kind of degree in business administration can serve as a solid start to a lucrative career. However, a doctorate degree is known for carrying a particularly high level of prestige out of all the business administration degree types. This is because a doctorate of business administration (DBA) programs are designed to educate the next generation of top-level executives and entrepreneurs. Essentially, if someone has a DBA then you can be sure that they know virtually everything anyone would need to know in order to keep a company operating optimally. In addition to that, here are the top seven advantages of studying for a doctorate in business administration:

1. A DBA Will Stand Out on Your Resume

If you’re looking for a business degree that’s going to be hard to ignore on a resume, a doctorate in business administration is a perfect fit because it shows that you’ve put in years of dedication to complete your educational path. If you were to quantify who holds the top spot in the eyes of prospective employers, one would have to say that DBA graduates take the edge just slightly over the more common MBA graduates.

The bottom line is – if you don’t get a DBA then you’ll be outdone by other applicants who have an MBA. Going the extra mile to become a doctor of business administration will ensure that no other candidate can present a more ideal credential on their resume.

The only other abbreviation that carries as much weight as a DBA on a resume is the PhD, and usually, that title is more suited for someone who is pursuing academic or research-based positions. You can learn more about the other differences between a DBA and PhD in this article from Aston University Online. Here’s a quick rundown of the comparison:

  • A DBA can be earned faster than a PhD. For example, students can complete their DBA courses in just 4 years, whereas the average business PhD degree takes almost 6 years to complete.
  • On average, doctors of business administration tend to have more experience and are older than the average PhD in the same field. The average DB student enters their first term of schooling already having 15 years of experience as a working professional.
  • The DBA is a more modern educational framework, with business schools having PhD programs since the 20th century but only seeing the true advent of DBA programs in the 21st century. The vast majority of DBA programs that are currently operating were started in the past 2-3 decades.

As you can see, a DBA is such a prestigious degree type that it even outshines the PhD title in this field and there are at least a few reasons to set your sights on a DBA if your goal is to earn the highest possible degree in business administration.

2. Graduates with DBAs are in High Demand

If there’s one degree type that can practically guarantee you a management job at most companies, it would have to be the doctor of business administration. Of course, being a doctor of any kind comes with a certain level of respect and admiration because people know that it takes years to earn that title. It just so happens that in this particular case you can earn a doctorate of business administration even faster than you can earn a master’s degree in business administration.

“The relatively fast path to a doctorate degree makes the DBA a uniquely appealing credential for anyone who has their sights set on the upper echelon of the corporate ladder,” said a representative at Aston University Online.

If you’re looking for that one credential that you know for sure will carry a lot of weight on any job application, a doctorate degree in business is an excellent match for that.

3. A Doctor of Business Can Fix Any Company, Or At Least That’s the Impression They Give

Imagine knowing how to handle corporate affairs at such a high level that you can reasonably say that you could fix almost any business situation. That’s the kind of power and knowledge that someone with a DBA holds. Of course, the title “doctor” is never taken lightly in any circle and is perhaps even more respected in the field of business than it is in medicine.

In healthcare, there are many kinds of doctors, and not all of them carry high-ranking positions in the organizations that they work for. On the other hand, there’s only one kind of doctor of business administration and all of them typically have upper managerial jobs at the companies that they’re employed by or partnered with.

“There’s a certain expectation that hiring managers have when they see a job candidate who has their DBA. It’s almost like a stamp that says ‘this person definitely knows what they’re doing and should be entrusted with mission-critical projects,” noted a HR representative.

4. A DBA Provides the Widest Range of Eligibility for Administrative Positions

There aren’t too many degrees that will qualify you for more jobs simultaneously than a DBA. A doctor of business administration can apply for virtually any management job and stand a good chance of being hired over every other candidate. The ability to switch industries and career paths with ease is another primary benefit of choosing a DBA over other degree types.

When a DBA graduate is ready to start working in an entirely different field, it’s easy for them to do so without hassle because companies of all kinds will welcome their expertise. The option of being able to change specializations and discover an entirely new industry at any given moment is a nice perk that’s unique to DBAs and only a few other widely applicable degree types.

Students aren’t necessarily making a permanent or irreversible decision when they study for a DBA because it can be used to find jobs in virtually any industry.

5. The Pay is Always Above Average

Of course, you can’t give a complete rundown of the main benefits of any degree without mentioning the income. The average DBA graduate has a mid-career salary of about $137,000. That means you could settle for “middle of the road” and still wind up making almost $150,000 at the halfway point of your career.

With a bit of niche specialization and experience, that number can be as high as $250,000 or more for top executives. Even if you were to land a low-paying managerial job, it would still wind up paying you more than an above-average job in the retail or service sector. That means that even in a worst-case scenario, you still wind up making more than the average person.

6. The Work is Fulfilling

Did you know that nearly 80% of DBA graduates say that they receive a strong sense of fulfilment from their work? That’s not surprising when you consider the influential and pivotal roles that DBA graduates can play within the hierarchy of the companies that they work for.

“Earning new accolades and being awarded for achievements is common practice for a DBA graduate because everyone gives credit to the people at the top,” said the Aston University rep when asked why DBA graduates tend to have such fulfilling career paths.

Simply put, DBA-level employees enjoy all the praise and benefits that their employees and team members generate through all the hard work that is put forth under their direction. In other words, if the company does extremely well, the CEO always gets the most credit even if all they did was a bit of occasional micro-managing.

7. A DBA Provides the Skills Needed to Succeed in Your Own Businesses

Finally, one extra perk of studying for a DBA is that it equips you with the skills needed to ensure a high chance of success of any personal business endeavour you enter into. This is a great backup option to have available because it means that you don’t have to settle for being an employee for the foreseeable future.

Instead, you’ll be able to leverage your skill set for the benefit of your own entrepreneurial efforts at any given moment. That’s obviously a major advantage to have in comparison to the average corporate cog who has no choice but to continue working as a pawn for the rest of their career.

Furthermore, when you do decide to start raising funds for your business during an initial investment round, the investors will confidently make contributions knowing that the company is in the hands of a well-credentialed professional.

Commit to a Degree Path That’s Worth Pursuing

In closing, opting for a DBA gives you the same kind of benefits that you would get from completing a 6-or-8-year program in the span of just 4 years. With thousands of degree types available nowadays and many of them not providing any meaningful results in terms of adding undeniable value to your resume, it’s more important than ever to commit to a course of study that will be worth your time in the long run.
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