After earning your graduate or undergraduate degree and working for a few years, it can be a challenging decision to return to college. However, if you are keen to expand your professional outlook and become a more prudent and innovative business leader, you should consider getting a doctorate degree. This can help you further excel in your work and accomplish business goals.
After a master’s, further education may seem unnecessary for those going into an industry environment rather than academics. However, earning a doctoral degree can be beneficial in helping you become a better business leader. If you are interested in progressing further in your career, instead of a traditional PhD, you should consider earning a doctorate degree.
A PhD focuses on building theoretical knowledge related to business and allows students to develop ideas that can improve the study of business, it equips those studying to enter academia once they’ve graduated. On the other hand, a Doctor of Business Administration, for example, might be right choice for anyone who already has experience in the field of business and wants to expand their knowledge to solve specific problems in their company. So, therefore, while both look to expand a person’s existing knowledge, the application of that knowledge differs.
The best part is that a DBA programme designed for executives can be a part-time course that can be pursued online. The program offered by Aston University pairs students with specialist academic supervisors tailored to their research area for support and personal development throughout. You can pace your learning to suit your work and life commitments, as the program can be completed in four to six years.
Why should you study an advanced degree?
If you are still wondering if this is the right path for you, here are some compelling reasons that make this degree a worthwhile investment.
Bolster your credibility
You will acquire a new perspective when you get a doctoral degree in business. You will be able to communicate your ideas, concepts and notions in a new and engaging manner. As a result, it will give you a competitive advantage and allow you the opportunity to flourish in your career. The qualification itself will also make you more credible in your industry.
These programs are designed to make graduates an expert in their chosen subject. The program does not have a broad scope; instead, it is laser-focused, allowing graduates to hone their research, writing and presentation skills. You’ll be required to conduct specialized and in-depth research, and as a result, graduates acquire comprehensive knowledge that boosts their credibility and transforms them into thought leaders.
Boost career opportunities
While doctorate programs do cover management skills, graduates also learn about organizational effectiveness and leadership. The program enables graduates to develop and hone research and problem-solving skills. The programs empower graduates to use their skills in a variety of settings, jobs and industries. As a result, graduates work with real-world problems and solutions and are well-placed to create business principles that others can learn and put to good use.
Since an executive is invariably a problem-solver and out-of-the-box thinker, they can develop new ideas and utilize their knowledge to build new processes in just about any field. With an advanced degree, a person can fit into academia as well as the business world. They can work as consultants, strategists, entrepreneurs, senior-level decision-makers and faculty in educational institutions, or become business owners or managers. They allow an executive to stand out as they can quickly adapt and perform in a fast-moving and evolving business setting and help the business flourish and move forward in a competitive marketplace.
Secure promotion opportunities
With an advanced degre, you can secure a promotion at your workplace with relative ease, as you’ll be bringing a greater wealth of knowledge and skills to the table, and a sharper business acumen. You will demonstrate better decision-making skills and focus on using innovative ideas to help your organization meet its business goals. You will also become more productive with your time by resolving problems and developing new business ideas and solutions as you find them.
Potential for a higher salary
Earning a Doctor of Business Administration will boost your earning potential. According to the US Bureau of Labor Statistics, in 2022, employees with doctoral degrees earned $1,909 each week on average, while employees with a master’s degree earned $1,574 each week. As you can see, there is a significant advantage in earning for a professional with a master’s and a doctoral degree.
If you want to earn more and enjoy financial stability while working, it pays to enroll in an online business program. With your financial needs taken care of, you will focus and perform better at work or may be able to allocate more time to pursue your interests outside of the office.
What to expect when you enroll
Most programs combine hands-on experience with research and analysis. As a result, you acquire skills that enable you to solve complex business-related problems. The programs also encourage students to undertake projects within their organizations to conduct research and analysis to solve real problems. When they do this, the doctoral students better understand their organizations and their industry as a whole.
A lot of business programs are divided into two sections. The first section consists of a series of lectures by eminent and knowledgeable tutors who deliver key information on specific topics. The second section covers research, wherein you take on a project. Doctoral students are paired with academic supervisors, who are specialists in the topics selected by the students. Supervisors support students in various ways, from helping them come up with research ideas to providing feedback when writing their final dissertation.
If you are in a demanding and competitive labor market, looking for a new perspective on the business world and want to establish your reputation in industry, it is something well worth pursuing.