Why get a doctorate in business management?
There’s a point in every professional’s career where they wonder what they can do to grow professionally. If you’re in management and are wondering the same thing, then the best way to go forward is to obtain a doctorate degree in business management.
Not only will a DBA open many doors of opportunities for you, but it will also help you become competent management professional.
Why Pursue a Doctorate in Business Management?
A doctorate in business management is among the best courses for professionals who aspire to reach the topmost level in management. So, let’s take a look at the top 5 reasons why you should pursue a doctorate in business management.
1. Get a Higher Pay
First and foremost, having a doctorate in business management can boost your income potential by a considerable margin. The average pay of an MBA professional in India is INR 7.79 lakh per annum.
On the other hand, the average pay for a DBA professional in India is INR 26 lakh per annum, which is around 3.5 times higher than an MBA.
Keep in mind that we have only shared the average pay for this field. Your pay can go much higher in the industry, depending on your location, employer, experience, and skills.
The reason why they pay for this field is considerably higher is because the supply for DBA professionals is substantially lower than MBA professionals. However, the demand for skilled professionals with a doctorate in business management is significantly high.
In any industry, your pay depends on your skills and expertise. And when you have an advanced qualification like DBA, you will be considered the most skilled professionals in this league.
2. Expand Your Horizon
After getting a doctorate in business management, not only will you get higher pay, but you will also be eligible for senior roles in different companies.
Bagging high-level executive roles in your desired companies will be a much easier task for you as you’d be an expert in management with a specialisation in a particular subject.
3. Stand Out
Unlike other programs, a DBA is usually pursued by experienced executives and workers who already have an MBA and professional experience. Such professionals choose to pursue a DBA either because they want to become a more skilled expert in that field or wish to distinguish themselves from the rest of the competition.
Not only does a DBA show that you’re an expert in your industry, but it also signifies that you’re committed to growing professionally and personally with a willingness to go the extra mile.
Furthermore, when you get a doctorate in business management, you’ll stand out from your peers as you’d be more qualified and knowledgeable than the rest.
4. Stay Updated
With so many new technologies entering the market, such as artificial intelligence and machine learning, it can be quite challenging to stay up to date with them. However, it’s also true that professionals who keep up with the technological changes get ahead in the market, while those who fail to do so become obsolete.
A prominent reason why you should consider doing a doctorate in business management is that it will make you familiar with the latest skills and technologies. Our Global Doctor of Business Administration offers specialisations in multiple sectors, including Data Science, Business Analytics, Finance, Machine Learning, Technology Entrepreneurship, and Supply Chain Management, among others.
Staying updated with the latest trends in the market will help you get ahead of your peers and become a thought leader in your industry.
5. Professional and Academic
What separates a doctorate of management from other doctorate programs is that it’s both a professional and academic qualification.
Most doctorate programs are academic qualifications that allow a person only to pursue research and academic progress. On the other hand, with a DBA, you have the option of applying your sophisticated knowledge of management and relevant fields in business directly and help an organisation grow accordingly.
That doesn’t mean you can’t pursue academic progress with a doctorate in management too. You can certainly conduct research and publish papers in journals in your specialised field if you’re interested.
You can also use your advanced understanding of business concepts to start your own company and become an entrepreneur. There aren’t many degrees and qualifications that offer such a plethora of growth opportunities – a perfect ground for getting a doctorate in business management.
How to Get a Doctorate in Business Management
Certainly, getting a doctorate in business management has its advantages. However, you might wonder how you can go about this process. Well, we have great news for you.
At upGrad, we offer a Global Doctor of Business Administration program with the Swiss School of Business Management, Geneva. It’s a completely online program, which means you don’t have to keep your professional or personal commitments on hold to pursue a DBA. The course is specifically designed for working professionals.
It is a 24-month program and offers multiple specialisations based on dissertation topics such as Finance, International Business Leadership, Data Science, Machine Learning, Energy Management, Human Resource Management, Global Supply Chain Management, and many others.
There are 75+ nations represented in cohort and 70+ faculty industry collaborations. The program is divided into four modules:
- Research Methodology I
- Research Methodology II
- Research Proposal
- Thesis Writing
Thus, as you can see, there are plenty of advantages to pursuing a DBA – it will open the door for you to explore new possibilities.
It’s certainly the right career move for any management professional.
Is A Doctorate in Business Management Worth It?
A Ph.D. in Management is an immediately marketable asset that will provide you a competitive edge in today's workforce, whether you pursue it on campus or online. From acquiring a competitive advantage to becoming a scholar-practitioner, there are many benefits to becoming a scholar-practitioner. A good Ph.D. in Management program teaches you how to create knowledge rather than just absorb it. You'll attain new levels of critical thinking that you may utilize in your job.
Is a DBA as good as a Ph.D.?
Both qualifications potentially lead to similar job prospects and pay. A Ph.D. offers academic or research positions such as management analytics, business professors, or scientific authors, but a DBA qualification often leads you to a more practical CXO role in corporations. If you're just getting started in management and want to undertake research, a Ph.D. is the way to go. If you wish to pursue a career in academia, this is the option for you. Alternatively, if you make a career at a managerial position, a DBA is a better option.
Is a master’s degree required for getting a DBA?
DBA candidates should have demonstrated experience working in a professional business environment in addition to a bachelor's and master's degree. The qualification's goal is to help you gain a better grasp of your chosen industry. It's a research project that's graded on the basis of a lengthy dissertation that lays out the results of your investigation. Yes, you require work experience or a master’s degree to qualify for a DBA. UpGrad has a Global doctor of Business Administration.