If you’re thinking about getting your online phd, then you might already know that a phd in business administration is one of the most prestigious, well-respected degrees you can get.  Few people have the honor that a phd in business administration endows, which means if you do have one you’ve pretty much got your pick when it comes to career opportunities.

The Big Difference Between Ph.D. and DBA

There are two types of advanced degrees you can get in the world of business administration.

The first is a Doctor of Philosophy in Organization and Management.  This phd program focuses heavily on research in business administration.  In this program you’ll be learning how to come up with your own theories and business practices; it’s likely that you’ll go on to a teaching career with this program.

The other type of advanced degree is the Doctor of Business Administration, or DBA.  This program focuses more on practical application of theories, rather than creating new ones.   If you’re interested in working in the business world as an upper level manager or CEO, then this is the avenue you will want to pursue.

Many sites use the two terms interchangeably.  It works, because they’re both very similar, but it can get a bit confusing.

Why a Doctor of Business Administration?

There’s no doubt that the world is a fast-changing place.  If companies want to keep up, they must stay on top of business trends, technology, globalization, e-commerce, and human resources.  These are a lot of balls to juggle, and anyone in a leadership role must have the skills to manage each one of these areas (and many more!).

With a doctorate in business administration you’ll be learning practical concepts relating to the business world.  Most courses are designed to teach you how to be an effective leader in the real world.  Yes, you can teach with a DBA, and some do, but plenty of others go on to hold high-ranking positions in the business world.  They work as CEOs or upper-level managers making key decisions for their company.

A doctorate in business administration is going to teach you critical skills such as:

• Problem solving
• Innovative leadership techniques
• Creative thinking
• Business ethics
• Diversity
• Effective communication
• Research
• Teaching techniques

Plus, you can also get a DBA with a focus on accounting.  If you have previous experience in accounting, this could be an incredibly smart move because right now there is a major shortage of professors with an accounting phd.  This means there are not enough people to teach, so if you have a focus in accounting you’d pretty much have your pick of school and salary, which could work out very well for you!

Your Earning Potential With An Advanced Degree In Business Administration

It’s the $10,000 question everyone wants to know: just how much can you make with a DBA?

Prepare to be happy…

Getting your doctorate in business administration means that you’ll be pretty comfortable for the rest of your working life.

The average CEO starts at $140,000 per year.  But, we all know that many CEOs make much, much more than this.  If you’re good at what you do (and have your doctorate in business administration to back it up) your earning potential is virtually unlimited.  Plenty of CEOs make seven figures.  And no, that’s not a typo.

If you think you’d like the quieter life of a professor (and you decide to get your phd in business administration), then you’ll earn less, but you’ll still be plenty comfortable.  Starting salaries for an associate professor at a business school are around $110,000.  Full professors can expect to earn $150,000 or more.  And, you get all major holidays and summers off.  Sounds like a dream come true, right?

So, there are perks to each.  CEOs have much more stress and work longer hours, but they get paid much more.  Professors have a more relaxed lifestyle, but they also earn less.

So, Is It Worth It to Get An Online Phd In Business Administration?

You bet it’s worth it.  Choosing to get an online doctorate of business administration means you don’t have to waste time (or gas money) driving to class, finding a parking spot, and schlepping yourself across campus.  Learning is more efficient because there are no distractions, and you can do everything from the comfort of your own home.

But, beware here.  Make sure that you thoroughly research the school where you want to get your online degree.  There are plenty of schools that are phony, and they’ve hoodwinked many people.  Make sure your school is accredited with a reliable agency, and look them up at the Department of Education to make sure they’re legit.