Looking to Level Up? Why a Doctorate in Business Administration is Beneficial For Career Advancement
There are many reasons why a professional might want to pursue a Doctorate in Business Administration (DBA). Perhaps you want to take up a leadership role within your company, or you may be looking to change careers altogether. Whatever the reason, a DBA offers many benefits that can help advance your career, enhance your knowledge base, and level up your skillset. Completing your DBA online can also give you the flexibility to continue working while you study, which can be a major advantage if you’re an executive who is already employed full-time.
In this article, we’ll take a look at some of the key benefits of pursuing a Doctorate in Business Administration, and how it can help you achieve your career goals. We’ll explain why doing a Doctorate in Business Administration online is beneficial to executives or professionals who work full-time, and we’ll also address the top questions asked about DBA online programs. Our hope is that this article will give you a better understanding of what a DBA degree can do for your career, and help you decide if it’s the right next step for you.
What is a Doctorate in Business Administration?
A Doctorate in Business Administration (DBA) is a terminal degree that is designed for experienced business professionals who want to take their careers to the next level. A DBA program focuses on research and theory-based work, which allows students to gain in-depth knowledge of a specific area within business. Students in Doctorate of Business Administration programs will complete a dissertation, which is a research project that makes an original contribution to the field of business. A Doctor of Business Administration degree will also see you contributing to national and international publications, and participating in academic conferences, where you’ll share your knowledge in a highly specialized field of study with other scholars and thought-leaders.
While many Doctorate programs are designed for those who want to pursue academia or research careers, a DBA is geared more towards working professionals who want to advance their careers in business (although the possibility of teaching at the collegiate level is an option with additional certifications). The aim of a DBA program is to prepare executives for leadership roles within their organizations, and to equip them with the skills and knowledge necessary to make significant contributions to the business world. This makes a DBA degree an ideal choice for executives or upper-level managers who want to gain advanced knowledge and skills that can help them lead organizations more effectively. For lecturers who want to pursue an academic career in business, a DBA can lead to promotion and tenure opportunities at the collegiate level.
The Top 7 Benefits of Getting Your PhD in Business Administration
Why get a DBA degree? Well, there are many reasons why professionals who want to advance their careers in business should consider completing a Doctorate of Business Administration, including preparing yourself for a leadership role, developing an in-depth understanding of the business arena, and gaining the skills necessary to contribute to the business world in a meaningful way.
Stand Out From the Crowd
In an official worldwide study on the DBA degree, 83% of the schools surveyed said that “the demand for professional doctorates in management is increasing strongly worldwide”. The demand has only escalated as the business world has become more complex and competitive after the global pandemic. A DBA degree will give you the edge over your competition by demonstrating that you have the highest level of business knowledge and research ability, allowing you to differentiate yourself from other candidates from the outset.
Having a Doctorate as opposed to a Master’s in Business Administration will show employers that you have a commitment to excellence and that you’re willing to go the extra mile to achieve success. With a Doctorate in Business Administration, you’ll be eligible for a range of positions that you may not have been able to access with an MBA such as a Senior Analyst, C-suite executive, Information Systems Manager, or a top-tier consultant.
The reality is that only 4.6% of graduates have completed a doctorate or professional degree in the past 2 decades, which means that by earning a DBA degree, you’ll be in a select group of highly-skilled professionals who are first in line for top positions.
Increased Earning Potential
While the total degrees earned in General Business Administration and Management decreased by 2.2% in 2020, the average wage grew by 2.2%, which means that higher demand due to less qualified individuals in the pool was a contributing factor to driving up earnings. However, between 2010 and 2018, there was a 10% increase in DBA graduates, which shows a distinct trend towards individuals realizing the benefits that the post-graduate degree can have on earnings and career opportunities.
A Doctoral degree can make a profound difference in earnings, offering candidates the potential to access senior business roles. The mean annual wage for business occupations was $76,570 in May 2021, but Forbes recently noted that the highest paying roles in business administration (Chief Executives) averaged $179,520. Those able to secure senior roles will find their earnings much closer to the top of this pay scale.
Opportunities for Career Advancement or Career Transition
If you’re looking for a promotional opportunity, or to transition into a new area of business entirely, a DBA can give you the foundation you need to make the leap and, according to Pew Research Center (PRC), now is the time to do it!
As The Great Resignation continues into 2022, one in five workers are planning to make a career move. This means that (a) there will be a ton of room for advancement for those who are looking to advance within their companies; and (b) there is the probability of an earnings increase for those who transition into a brand new role. In fact, PRC notes that 60% of workers who switched jobs between April 2021 and March 2022, saw an increase in their earnings.
With a range of valuable expertise such as decision-making and advanced problem-solving, as well as an in-depth understanding of how businesses operate, those with a DBA will be well-positioned to take advantage of senior roles across a variety of industries as they become available.
Enhanced Knowledge and Skillset
A Doctor of Business Administration program will allow you to focus on a specific area of interest and develop a nuanced understanding of business practices and research methods. This knowledge will be invaluable in both your current role and as you move up the corporate ladder or sideways into a new area of business.
In addition, you’ll have the opportunity to develop a range of transferable skills that will be useful in any business environment, such as advanced project management, collaborative teamwork, and effective communication skills.
As a Doctor of Business Administration, you will have the ability to contribute to the business world by conducting research that can help shape business policy and practice. Your enhanced skillset will also enable you to provide consultancy services, offering expert advice to businesses of all sizes. With the introduction of AI into the management consulting arena, it’s likely that those with a deep understanding of current data practices, and the agility required to stay ahead of the latest trends, will be in high demand.
The Ability to Teach at the Collegiate Level
A Doctorate in Business Administration can also be an excellent way to transition into a teaching or research role at the collegiate level. The skills and knowledge gained throughout the program will put you in an excellent position to take on a teaching role, either as a full-time professor or as an adjunct instructor. Additionally, if you’re interested in pursuing a career in academia, a DBA degree can be your first step on the path to becoming a tenured professor.
EIM’s DBA online program gives you the opportunity to publish your research in internationally-recognized, peer-reviewed journals. This can be an excellent way to establish a name for yourself in the academic world from the outset while fulfilling the requirements for your Doctorate in Business Administration.
EIM’s accredited online degree programs also include certifications such as the PGCert in Academic Research and Publication and the PGCert in Technology-Enhanced Teaching and Learning in Higher Education which, when completed after your DBA degree, will qualify you as a Lecturer in Higher Education.
International Opportunities and Networks
Business is the one true international language, which means that DBA graduates can find work across the globe. In addition, EIM has an international focus, which means that you’ll have the opportunity to network with business professionals from all over the world. These networks can be invaluable when it comes to finding a job or making connections for future business ventures.
Completing your accredited degree online doesn’t mean that you’ll be missing out on the opportunity to network. In fact, based on an Oxbridge tutorial model, EIM’s online university offers a range of features that facilitate networking and collaboration, such as weekly assignments in small groups to assist with your research. In addition to working on your research with your peers, you’ll also have the opportunity to receive coaching and expert advice from professors who have vast experience in supervising doctoral programs in renowned American and European universities. These relationships can open doors to new opportunities and help you to progress in both your career and your personal life.
Versatility in Your Career and Research Area
While the highest paying occupations are in the medical, financial, and legislative sectors, a Doctorate in Business Administration online gives you the ability to pursue work in any number of industries. This includes technology, healthcare, the public and private sectors, tourism, finance, marketing, and the list simply goes on. With a DBA degree, you can confidently take up a variety of senior roles such as consultant, professor, analyst, researcher, or business executive – the possibilities are endless.
At EIM, your DBA research area is not restricted to a specific industry, which allows you to tailor your studies to match your professional interests and goals. Whether you want to focus on Human Resource Management, Counseling / Training, Change Management, Health Care, Consulting, Data Analytics, International Business, Entrepreneurship, Information Technology Management, Innovation Management, or a different focus that speaks to your interests, you have the freedom to choose the path that will be most beneficial for your growth.
How to Get a Doctor of Business Administration degree when You Have a Full-Time Job
The reality is that many working professionals don’t have the capacity to commit to a full-time, on-campus degree program. That’s where a Doctor of Business Administration online program comes in.
Completing your DBA online gives you the flexibility to study around your busy schedule. You won’t have to take time off from work or make any major lifestyle changes in order to complete your DBA degree, and depending on the online Doctorate business program you choose, you can still enjoy the networking and peer-to-peer interaction that comes with being a student.
EIM’s accredited DBA online program is designed for working professionals and can be completed in as little as 36 months if you opt to study full-time. The online format gives you the opportunity to continue working while you complete your degree, which means that you won’t have to sacrifice your income or professional development opportunities. Part-time study options empowers you to achieve your Doctorate in Business Administration over 72 months.
Why do your Doctorate in Business Administration online?
There are a number of reasons why working professionals choose to do their doctorate online. Our top 3 are as follows:
Make your Experience Count
Many traditional Doctoral programs require students to complete a certain set of modules and requirements as a non-negotiable policy. However, some of the best online Doctor of Business Administration programs from accredited online universities, such as EIM, have a Recognition of Prior Learning policy. This allows you to ‘fast-track’ your DBA degree by having your professional experience and prior learning recognized, preventing you from having to re-learn or repeat concepts that you’re already familiar with. At EIM, we group our Doctoral students with professionals who have the same skill and experience-level so that you can learn from each other in mutually beneficial ways.
Interactive Learning with International Lecturers
Completing your DBA online will also give you access to a range of interactive learning tools and resources that will help you to get the most out of your studies. EIM encourages students to engage in interactive tutorial sessions with weekly assignments that are designed to feed into their research and writing process. You’ll have the opportunity to connect with your fellow students and lecturers from all over the world, which is highly beneficial for networking and building international relationships. Our world-class coaching staff is accessible via video conferencing so that you can get the one-on-one support that you need, when you need it. Our comprehensive quality assurance policies and procedures are in place to ensure that you receive the best accredited online university experience possible.
Flexibility to Work and Study
An online DBA offers the convenience and flexibility that traditional, full-time doctoral programs simply can’t match. You’ll be able to study around your busy schedule, without having to take time off work or make significant changes to your lifestyle. EIM’s online accredited degrees allow you to adjust your program as you require, including giving you the ability to switch between full-time and part-time study if your circumstances change. You’ll also be able to take holiday breaks and pauses in your studies without having to start the program from scratch when you’re ready to continue.
Your Top Questions About a Doctorate in Business Administration, Answered.
Who is Best Suited to Doing a PhD in Business Administration online?
The doctor of business administration degree is best suited for those who are currently working in, or aspire to work in, managerial and leadership roles within businesses. The DBA program will equip you with the advanced knowledge and skills that you need to succeed in these roles, including strategic thinking, financial management, marketing analysis, and organizational behavior. The DBA degree is also well suited to experienced individuals who have started their PhD in Business Administration, and want to complete their studies without having to put their career on hold. Those who wish to become a qualified Lecturer in Higher Education in order to teach and do research at leading universities would find a Doctorate in Business Administration essential.
Can you Get a Doctorate without a Masters?
You may be able to complete your DBA without first completing a Master’s degree, depending on the specific requirements of the program that you’re interested in. However, most accredited online universities, including EIM, do require students to have a Master’s degree (or equivalent) in order to be eligible for their DBA program. EIM does, however, have a Recognition of Prior Learning policy which can save you both time and money by only paying for the modules you need to complete, rather than the entire Doctorate in Business Administration program.
How Long is a Doctorate Degree in Business Administration?
The traditional Doctoral program in Business Administration takes between three to five years to complete. However, the online DBA program from EIM can be completed in as little as 36 months depending on your prior learning and experience, and your decision to study full-time or part-time. Part-time study can take up to 72 months to complete your DBA online.
How much does a Doctor of Business administration make?
A Doctor of Business Administration is capable of taking up a range of senior roles across a wide array of industries. As an Investment Manager, you’d be looking at between $95,906 and $184,250 per annum. A Procurement Manager earns on average $121,500 per annum, and the maximum salary recorded for a Senior Data Analyst is currently $210,000 per annum. According to the US Bureau of Labor Statistics, a Doctoral degree holder can look forward to average weekly earnings of $1909, which is significantly higher than those with Masters and Bachelor’s degrees. It is also interesting to note that the unemployment rate for those with a Doctoral degree is only 1.5%, which is much lower than the national average.
What are the Doctor of Business Administration Requirements?
While the requirements for entry into a Doctor of Business Administration program will vary slightly from university to university, there are some key requirements that are common across most institutions. Firstly, you’ll need to have completed an accredited Master’s degree (or equivalent) in order to be eligible for admission into a DBA program. Secondly, you’ll need to have several years of relevant professional experience under your belt. And finally, you’ll need to pass a language proficiency test.
EIM’s DBA online program requirements are as follows:
- a Master’s degree with an overall merit or above (grade achieved or equivalent),
- at least five years of professional experience,
- sufficient English skills (e.g., IELTS 6.5 or above), and
- sufficient digital competences to use Google’s online products and services (e.g., Gmail, Google docs),
or to be able to demonstrate the requisite level of proficiency.
Ready to take your career to the next level with a Doctorate in Business Administration?
If you’re looking to move up the ranks in your company, take up a senior role, move into a new area of business, or lecture at a Higher Education Institution, then a Doctor of Business Administration could be the perfect choice for you. With a government-accredited DBA from EIM, you’ll benefit from advanced knowledge and skills in strategic thinking, financial management, marketing analysis, and a range of other business-related disciplines. You’ll also have the opportunity to choose from a variety of specializations, allowing you to tailor your DBA to your specific career goals. So what are you waiting for? Get started on levelling up your career with your online Doctor of Business Administration today!