Overview
As technology
evolves and moves business more online, it’s important to possess both
computer skills and a solid business background. Today, experience alone
does not suffice. Increasingly, business practitioners favor a strong
academic and theoretical background to truly prepare for the global
business market. As MBAs become more prevalent in the business world,
earning a doctorate - Doctor of Business Administration (DBA) or PhD in
Business - remains the best way for the truly ambitious businessperson
to distinguish him or herself.
Prerequisites
Undergraduate degree,
usually a few years of work experience and the Graduate Management
Admission Test (GMAT).
Time Commitment
Without a masters degree, a
doctoral program will take 6 - 8 years, depending on whether enrollment
is full or part-time. With an MBA, the doctoral process will require 4 - 5 years. Whether you seek to start your own business or become a CEO of
an existing corporation, an online PhD affords you tremendous
flexibility by allowing you to finish your academic work at your own
pace.
Concentrations
Doctoral candidates can pursue a variety of
concentrations including: business management,
human resource management, nonprofit management, business leadership, finance and accounting.
Curriculum
Regardless of concentration, classes taken through the top
online schools emphasize management philosophies, business risks,
managerial practices and the relationship between technology and
business. A dissertation is required for graduation.
Career Potential
No degree can guarantee job or salary security, but a high level of
education sets students up for future success. One avenue open almost
exclusively to DBAs is academia. For full-time teaching and research
positions, most schools prefer a doctorate.
Salary
According to a 2001
study, the average starting salary for new doctorates was $85,900. In
the fields of finance and accounting, the average salaries were $95,000
and $101,500, respectively. These figures represent doctoral graduates
entering academia. Students pursuing consulting or starting their own
businesses have much higher salary potential. In 2004, the Bureau of
Labor Statistics reported the average CEO’s salary as $140,350.
DBA vs. PhD
The DBA and PhD degrees are academically equivalent. Both
entail rigorous courses with a heavy emphasis on research. The central
difference lies in the fact that PhDs focus more on theoretical research
versus DBAs who scrutinize practical applications. In both programs,
students must write and defend a doctoral dissertation and take a
comprehensive exam. Both degrees prepare graduates for academic careers
in teaching and research, or high-level business industry positions.
eCollegeFinder.org helps you find degrees from accredited online colleges to start a new career or improve your current job. Search eCollegeFinder.org today and find the right online degree for you!