Should I Earn a Doctorate Degree?
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Types of Ph.D.s You Can Receive in the Field of Business
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by Karen Schweitzer
Karen Schweitzer is a business school admissions consultant, curriculum developer, and education writer. She has been advising MBA applicants since 2005.
A doctorate degree is the highest level academic degree that can be earned in the U.S. and many other countries. This degree is awarded to students who have completed a doctoral degree program.
Types of Doctorate Degrees
There are four basic types of doctorate degrees:
Professional Doctorates - These doctorate degrees are awarded to students who focus on a profession over research. An example of a professional doctorate is a DBA (Doctor of Business Administration.)
Research Doctorates - Commonly known as a Ph.D. or Doctor of Philosophy, research doctorates are typically awarded in recognition of academic research.
Higher Doctorates - A higher doctorate is a tiered research degree awarded in several countries including the United Kingdom, France, and Ireland.
Honorary Doctorates - Honorary doctorate are doctorate degrees awarded by certain universities that want to recognize an individual's contribution to a particular field.
Where to Earn a Doctorate Degree
There are thousands of universities around the world that award doctorate degrees. Business students can often choose between a campus-based program and an online program. Although every program is different, most schools require students to complete at least two years of full-time study before a doctorate degree will be awarded. In some cases, it may take as long as 8 to 10 years to complete the necessary requirements. Prerequisites for business students often include an MBA or a master's degree in a business field. However, there are some schools willing to admit undergraduate students to their doctoral programs.
Reasons to Earn a Doctorate Degree
There are many different reasons to consider earning a doctorate degree in the business field. To start, earning a doctorate degree can significantly increase your earning potential. This degree can also qualify you for more advanced and prestigious career options, such as CEO. Doctorate degrees can also make it easier to obtain consulting or research work and teaching jobs.
DBA vs. Ph.D.
Choosing between a professional degree, such as a DBA, and a research degree, such as a Ph.D., can be difficult. For business students who want to contribute to business theory and management practice while developing professional skills and contributing professional knowledge, the DBA is almost certainly the best academic route to take.
Choosing a Doctoral Degree Program
Finding the right doctoral degree program can be a challenge. There are thousands of schools and degree programs to choose from in the U.S. alone. However, it is essential that you make the right choice. You will be spending several years in the program. You must find a school that offers the type of degree you want to earn as well as the type of professors you want to work with. Some of the most important things to consider when deciding where to earn a doctorate degree from include:
Cost/Financial Aid Package
Faculty Reputation
Program Reputation
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