PhD in Business
Anyone who has been looking for a job in this down economy knows that there are more qualified people than jobs right now. The job market is extremely competitive, and only the best of the best will be landing a job.
If you’re currently unemployed, don’t just tinker around the house with home improvement projects. Make the best use of your time by enrolling in a degree program to increase your qualifications and contacts in your field. For example, if you already have an MBA, why not polish your resume up even further by earning a business PhD?
Before you object that you live too far away from any university that offers a business PhD, or you object that if by some miracle you do manage to find a job you wouldn’t be able to complete your degree program, consider that there are many reputable universities offering PhD programs in business online.
Five Good Reasons to Earn a PhD in Business
- You’ll have three more letters after “MBA” that will set you apart from the crowd and make it easier to get a job.
- Your salary will be higher.
- If you are not a United States citizen already, having a PhD in business means you’ll have an easier time becoming a permanent resident or a citizen.
- You’ll get to conduct in-depth research on a subject of interest to you.
- You can get a job as a college or university professor.
The Difference Between a DBA and PhD
After the level of an MBA, the two higher degrees available are a DBA and a PhD in business. In short, a Doctor of Philosophy in Business, or PhD, focus on highly specialized, scholarly-oriented research. PhDs study management theories, economics, and similar esoteric fields. Many later become university researchers, professors, or earn positions as researchers in large corporations or in government.
A Doctor of Business Administration, or DBA, focuses on applying theory rather than creating theory. Although DBAs can also be found within Ivory Towers, they are more likely to work in managerial positions, similar to those with an MBA.
A PhD and a DBA are considered to be academically equivalent – that is, both are high-level degrees. Both must engage in serious research, both defend a doctoral dissertation, and both involve challenging exams. The difference between the two lies within the intended application, as previously indicated.