Are you a recent college graduate or working professional contemplating a doctorate in business administration? While there are multiple factors to evaluate to make an informed decision, you’ll be pleased to know that those that pursue this path found it to be worth the investment. The prestigious degree gave them extensive knowledge in the inner workings of a business and opened the doors to lucrative and fulfilling opportunities.
What Is A Doctorate Of Business Administration?
A doctorate of business administration is a degree program that expounds on business professionals’ existing knowledge and experience. Accredited programs vary but ultimately strive to provide students with a curriculum focused on leadership, innovation, customer experience, and more.
What Do Students Learn?
Depending on the Doctor of Business Administration (DBA) program you choose, students are taught several subjects, including:
- Foundations of research
- Global business solutions
- Creating change and innovation
- Advanced statistics
- Organizational development
- Cross-cultural and international management
Students can also select specialization courses, including information technology, marketing, and management.
How Does A DBA Degree Benefit You?
Why would investing your time, energy, and financial resources into a DBA degree benefit your professional career? Check out these advantages listed below:
It looks Great On A Resume
Why blend in with MBA graduates when you can stand out? If there’s one thing an employer loves to see, it’s an applicant that’s invested in their education. A DBA shows that you’re willing to go the extra mile to sharpen your skills and talents.
Ultimately, anyone that puts forth that much effort is more likely to do the same for whatever organization they work for. Not to mention, the extensive knowledge you obtain by completing a doctor of business administration program can prove invaluable to a company’s overall success.
More Career Opportunities
The lessons you learn from a doctorate of business administration program are interchangeable, enabling you to seek gainful employment in several industries and positions. An individual with a DBA can consider opportunities like a business owner, consultant, chief operating officer, business strategist, government contractor, and high-level executive and managerial positions in private and government entities. When you have that many options available, finding a job that aligns with your interests, skills, and lifestyle is more manageable.
The cost of living isn’t getting any cheaper. If you want to sustain a decent quality of life, you’ll need a reasonable salary. Having a DBA can make that possible. Business professionals with a doctorate can earn more than $20,000 a year more than those with an MBA or lesser degree. The median salary is $62,000, while top earners can make $100,000 a year.
Boosts Promotional Potential
Moving up the corporate ladder isn’t always easy, especially when you don’t have the industry knowledge or experience to fill high-level positions. A DBA gives you the education and skills you need to perform efficiently, resulting in an increased chance to nab that promotion.
Increased Entrepreneurial Success
Have you considered venturing out to start a business yourself? If so, you should know that more than half of companies fail within their first five years of establishment. Although there are several reasons for such an outcome, an enhanced understanding of business operations can give you the boost you need to succeed.
You have more industry knowledge, experience, and a strong network that you can tap into to avoid common obstacles that might cause other entrepreneurs to fail. Whether it’s understanding rules and regulations, putting together a solid team, being an effective leader, or securing funds and partnerships, a doctorate gives you a leg up in this highly-competitive field.
Of the many degrees available to students and working professionals, a Doctorate of Business Administration is worth the investment. It’s recognized and valuable across multiple industries, boosts your chances of getting a job or promotion, increases your salary potential, and provides a solid foundation for entrepreneurs. No matter your career goals, this degree can open doors and create opportunities, unlike anything you could ever imagine.