phd with mba salary

MBA vs PhD – Which Advanced Degree Path Is Better?

In the ever-evolving professional landscape, the pursuit of higher education remains a popular route to advance your career. But how do you choose between MBA vs PhD?

When it comes to MBA vs PhD, an MBA is for those seeking to climb the corporate ladder, transition into management roles, or launch their own businesses. A PhD is geared towards those passionate about research and academia.

In this blog post, we dive into the unique benefits and opportunities that each of these advanced degrees offers.

From the practical business acumen and leadership skills gained in an MBA program to the deep expertise and research contributions made by PhD holders, the choice ultimately hinges on your long-term goals and personal ambitions.

We’ll explore these two distinct paths, and learn how to make the best decision for your future success.

MBA vs PHD – In A Glance

What Does a PhD Get You? Pros and Cons

A PhD , the highest academic degree achievable, can open numerous doors in the job market, enabling graduates to advance in their careers.

Unlike an MBA, which primarily focuses on corporate and management aspects, a PhD offers expertise in a specific field through rigorous research and study.

As a PhD student, your goal is to contribute new knowledge to your field, be it economics, finance, accounting, or any other discipline, by crafting a thesis that contains original research.

Through the PhD program, you not only earn a valuable qualification but also gain opportunities to publish your work and present at conferences.

These activities can enhance your reputation, making you more desirable to potential employers. The salary of a PhD holder often surpasses that of someone with only an undergraduate degree, as their expertise is in high demand.

From my personal experience, obtaining a PhD can be challenging yet rewarding. It allowed me to explore my chosen field, chemistry, in depth and opened up new avenues for career growth.

However, it is crucial to consider the potential drawbacks before embarking on this journey.

Pursuing a PhD entails a significant time commitment, typically around 3-4 years, and can be quite expensive, as tuition fees for these programs can be steep.

Acquiring a PhD can provide numerous benefits, including expert knowledge, a higher salary, and opportunities for advancement in your field. However, carefully weighing the pros and cons is necessary to determine if it’s the right path for you.

Should you earn an MBA instead for the business world?

MBA vs PhD is a crucial decision that depends on your career goals and personal preferences. While both are advanced degrees, they offer significantly different paths.

I asked an MBA graduate and this is what they said:

“ Having experienced the MBA program myself, I can vouch for its practical benefits. An MBA focuses on business acumen and managerial skills, enabling you to climb the corporate ladder more quickly than a PhD. With a two-year duration, it’s a faster route to increasing your earning potential and offers a significant return on investment. Business schools emphasize teamwork, entrepreneurship, and ethics, providing graduates with a well-rounded skill set for the business world. “

On the other hand, a PhD, such as a PhD in economics or any other discipline, is ideal for those passionate about research and academia. It requires several years of dedicated study, with graduates becoming experts in their niche.

PhD holders often pursue careers as researchers, professors, or consultants.

When considering whether to pursue an MBA or a PhD, weigh the pros and cons of each degree and reflect on your long-term career aspirations.

Both options can be rewarding, but they cater to different ambitions and provide distinct opportunities in the professional world.

Is an MBA equal to a PhD and doctorate?

An MBA and a PhD are both advanced degrees, but they are not equal due to their differing purposes and career outcomes.

As someone who has interacted with both MBA and PhD graduates, I’ve seen firsthand the unique benefits of each degree.

An MBA is a professional degree, taking one to two years to complete, and equips students with practical business skills.

This degree is popular among those aiming to climb the corporate ladder in industries like finance, marketing, or consulting.

On the other hand, a PhD is a research-focused degree, requiring several years of dedication and original research contributions.

A PhD in economics or other fields often leads to careers in academia or research. PhD programs are highly competitive and demand an intense commitment to writing a dissertation and advancing knowledge in the discipline.

The debate between MBA vs. PhD highlights the significant differences in their focus and career paths.

While both degrees can be obtained at a business school, they cater to different ambitions and provide distinct opportunities. The choice between an MBA or a PhD depends on one’s end goal, work experience, and personal preferences.

So What’s Better, a PhD or MBA?

When considering MBA vs PhD, it’s essential to evaluate your:

• personal interests,
• career goals,
• financial commitment involved in each degree.

A PhD offers the opportunity to deeply explore a specific subject, contribute to the advancement of knowledge in that field, and establish yourself as an expert.

However, the process is often lengthy and demanding, taking up to five or six years of intense research and dedication.

The payoff might not always be immediate in terms of career prospects, as academia and research can be fiercely competitive arenas.

On the other hand, an MBA equips you with practical business skills and knowledge, often leading to a broader range of job opportunities and potentially higher salaries.

The program’s duration is considerably shorter, usually taking one to two years to complete, and offers a faster return on investment.

An MBA is particularly well-suited for those seeking to climb the corporate ladder, transition into a managerial role, or even launch their own startups.

It’s important to note that some individuals choose to pursue both degrees, combining their research expertise with practical business acumen to excel in various fields.

Does Anyone Earn Both A PhD And An MBA? Why?

MBA vs PhD too hard to decide? You can get both. Yes, there are indeed individuals who choose to earn both a PhD and an MBA, although this path is less common.

Combining the two degrees can create a unique skill set that is valuable in various fields.

For instance, a PhD holder in a specialized discipline may opt for an MBA to gain practical business skills and a broader understanding of the corporate world, which can be valuable in leadership roles or entrepreneurial endeavors.

Pursuing both degrees also allows for building diverse networks, connecting with professionals in academia and the business world.

Despite the significant time and effort required to obtain both degrees, those who undertake this ambitious path often find themselves well-equipped to navigate multiple career paths and excel in their chosen fields.

MBA vs PhD Career Options

Both advanced degrees can lead to successful careers, but they differ significantly in terms of their focus and job prospects.

An MBA degree, with its emphasis on business administration, prepares graduates for roles such as:

• management consultant,
• marketing manager, or
• finance director.

MBA holders are more likely to climb the corporate ladder quickly and enjoy higher salaries. The MBA program equips students with practical business skills, making them suitable for leadership positions in a wide range of industries.

MBA holders can also consider going for a DBA degree as well.

In contrast, PhDs are more likely to become professors or researchers, with a focus on deepening their expertise in their chosen field. In science that is a very common career goal. 

While the earning potential for PhD holders may not be as high as for those with an MBA, they often find fulfillment in their academic pursuits.

Getting an MBA might be the better option for those eager to advance quickly in the corporate world and who possess a strong passion for business. 

On the other hand, getting a PhD might be more suitable for those who wish to delve into research and contribute to academia.

Wrapping Up

The decision between MBA vs PhD is a highly personal one, hinging on individual career goals, personal interests, and the level of time and financial commitment one is willing to make.

Both advanced degrees offer unique benefits and opportunities, but they cater to different career paths and ambitions.

An MBA is an ideal choice for those seeking to climb the corporate ladder swiftly, transition into management roles, or launch their own businesses.

With a focus on practical business skills, MBA graduates find themselves well-prepared for leadership positions across various industries.

On the other hand, a PhD is geared towards those passionate about research and academia, providing an opportunity to become an expert in a specific field and contribute to the advancement of knowledge.

While the journey may be more demanding and time-consuming, the satisfaction of making an impact in one’s chosen discipline can be deeply rewarding.

The best choice depends on your long-term goals, professional aspirations, and personal preferences.

Reflecting on these factors, researching each degree thoroughly, and seeking advice from professionals and peers can help you make an informed decision that aligns with your ambitions and aspirations.

Whichever path you choose, MBA vs PhD can be instrumental in unlocking a world of possibilities and shaping your future career.

Dr Andrew Stapleton has a Masters and PhD in Chemistry from the UK and Australia. He has many years of research experience and has worked as a Postdoctoral Fellow and Associate at a number of Universities. Although having secured funding for his own research, he left academia to help others with his YouTube channel all about the inner workings of academia and how to make it work for you.

Thank you for visiting Academia Insider.

We are here to help you navigate Academia as painlessly as possible. We are supported by our readers and by visiting you are helping us earn a small amount through ads and affiliate revenue - Thank you!

2024 © Academia Insider

Earning A Doctor Of Business Administration: What To Know Before You Enroll

Updated: Feb 16, 2023, 7:08am

Successful business executives are defined by their ability to solve pressing, real-world issues with accurate data and precise strategy. If you’re a business professional looking to enhance your career, a doctor of business administration (DBA) can offer a robust intellectual framework for navigating industry trends and organizational management.

Geared toward business leaders of the future, a DBA is a terminal business administration degree that offers immersive training in business analytics and applied research methods. The following guide outlines the details of doctoral programs in business administration and potential career pathways for graduates.

Why You Can Trust Forbes Advisor Education

Forbes Advisor’s education editors are committed to producing unbiased rankings and informative articles covering online colleges, tech bootcamps and career paths. Our ranking methodologies use data from the National Center for Education Statistics , education providers, and reputable educational and professional organizations. An advisory board of educators and other subject matter experts reviews and verifies our content to bring you trustworthy, up-to-date information. Advertisers do not influence our rankings or editorial content.

• Over 3,868 accredited, nonprofit colleges and universities analyzed nationwide
• 52 reputable tech bootcamp providers evaluated for our rankings
• All content is fact-checked and updated on an annual basis
• Rankings undergo five rounds of fact-checking
• Only 7.12% of all colleges, universities and bootcamp providers we consider are awarded

What Does a Doctor of Business Administration Entail?

A DBA is a doctoral degree catered to business professionals with management experience and a master’s degree. DBA programs are research-oriented and train students to use critical, analytical methods to explore questions and develop solutions in their respective organizations and the field at large.

Some DBA programs are offered exclusively online. Others require in-person attendance through recurring weekend residencies. Most programs begin in the fall, but you should check in with your prospective school to see if it offers rolling admissions and enrollment. DBA degrees tend to be flexible and accommodate the schedules of students with full-time jobs.

Is a DBA the Same as a Ph.D. in Business Administration?

A DBA is different from a Ph.D. in business administration, and many institutions offer both degrees.

Both of these degrees require students to produce original research. DBA programs usually run part time and bolster working professionals’ methodological skills and problem-solving capacities.

A Ph.D. in business administration is a full-time, research-intensive degree geared toward students seeking academic careers—often in teaching or scholarship—or non-academic roles that require expertise in research techniques.

Doctorate of Business Administration Admission Requirements

The admissions process for a DBA program is relatively standard, though precise requirements may vary among programs. To qualify for a DBA or Ph.D. program, prospective students should hold a master’s degree and prepare to submit the following:

• Application fee
• Transcripts
• Letters of recommendation
• Statement of purpose
• Additional essay prompt(s)

Applicants may have to complete admissions interviews, as well. Note that standardized tests like the GMAT or GRE are more commonly required for Ph.D. programs than DBA programs.

Courses in a Doctor of Business Administration Program

Most DBA programs entail about 60 credits, covering core class requirements, research methods credits and development classes for a research project. Depending on the program’s instruction format, classes can be offered in person or online via asynchronous or synchronous modalities.

A Ph.D. also requires about 60 credits beyond the master’s level. Ph.D. students must typically declare a concentration in an area such as accounting, finance, organizational behavior or international business. This focus area determines a Ph.D. student’s course trajectory. Given the interactive and collaborative nature of this research degree, Ph.D. students should expect to complete a residency as part of their program.

Note that in addition to credit requirements, DBA and Ph.D. programs typically require dissertations and comprehensive exam(s) in students’ selected topics. Most students complete DBA requirements in three years. The Ph.D. option takes about five years to complete. That said, completion times vary considerably among doctoral programs.

Core courses in a business administration doctoral program might include the following.

Financial Reporting

A course in financial reporting may cover the basics of financial accounting and forecasting. Students learn to use accounting analytics tools and discuss the value and perceived impact of reporting for a business.

Accounting and Multinational Enterprises

This course explores international accounting through a multinational, cultural lens. Studying content related to foreign transactions, taxation and financial statements, students review an array of accounting standards in an increasingly globalized world.

Sociology of Corporate Culture

This course explores sociological research on family dynamics, societal customs and contemporary consumerism patterns in the marketplace. Coursework covers ethnography and other social scientific methods to inspect an organization’s hierarchies, networks and cultural norms.

Managing, Organizing and Negotiating for Value

Negotiation is a central topic in this course. Relying on both theory and practical tactics, students come to understand the value of negotiation in individual, multiparty and even international scenarios.

Careers for a Doctorate of Business Administration

Your career options depend in part on which type of doctorate you pursue. DBA graduates are generally equipped for leadership and executive-level positions. For Ph.D. graduates, roles in academia are common, as are non-academic jobs that require specialized research training.

The following roles may suit candidates with a doctorate in business administration.

Management Analyst

Median Annual Salary: $95,290 Projected Growth Rate (2022–2032): +10% Job Description: Management analysts review organizational workflows and make recommendations to streamline business operations. These professionals advise managers by discussing business solutions that drive greater profits and various ways to cut costs.

Market Research Analyst

Median Annual Salary: $68,230 Projected Growth Rate (2022–2032): +13% Job Description : Market research analysts assess and review current market trends to predict the potential profits of various products. These professionals collect and analyze data, including quantitative measures of demographics and qualitative consumer feedback, via interviews and focus groups.

Median Annual Salary: $80,840 Projected Growth Rate (2022–2032): +8% Job Description: Professors design coursework for college and university students. They typically focus on a particular subject matter, industry or discipline, such as economics or marketing. Professors may also have industry experience outside academia that informs their teaching. Learn more with our guide on how to become a professor .

Median Annual Salary: $113,940 Projected Growth Rate (2022–2032): +6% Job Description: Relying on data and macro-level market trends, economists analyze issues related to supplies, goods and services. Economists specialize in quantitative analysis and may collect their own data. They can also rely on secondary data to study large-scale market patterns. Research partnerships with external organizations, government agencies and think tanks are common in this role.

Chief Executives

Median Annual Salary: $189,520 Projected Growth Rate (2022–2032): -8% Job Description: Executive-level positions entail developing big-picture policies that help businesses remain profitable. C-level leaders in larger organizations are often involved in strategy and goal-setting. In smaller organizations, executives may also contribute to the hiring process and day-to-day logistics.

Frequently Asked Questions About Business Administration (FAQs)

Is a doctor of business administration the same as a ph.d..

No. A doctor of business administration (DBA) is a degree tailored to the needs of full-time business executives. A Ph.D. program is designed for individuals seeking careers as researchers and professors in academia.

Is a DBA better than an MBA?

Not necessarily. A DBA is a top-level business degree that builds on MBA degree coursework and applied experiences in the workplace. DBA programs are usually intended to be the next step for MBA students.

Can I earn a DBA without an MBA?

Yes. Most doctorate programs require a master’s degree but not necessarily an MBA. Students with an MBA, however, are prepared for the training and expertise that comes at the doctorate level.

• Best MBA In Finance Online
• Best Online Finance Degrees
• Best Online Master’s In Accounting Degrees
• Best Online Master’s In Finance
• Best Online MBA Programs
• Best Ph.D. In Leadership Online Programs
• Best Online M.B.A. Accelerated Programs
• Best Online Accounting Degrees
• Best Online DBA Degrees
• Best Online Business Administration Degrees
• Best Online Business Management Degrees
• Best Online Graphic Design Degrees
• Best Online Bachelor’s In Human Resources Degrees
• Best Online Marketing Degrees
• Best Online Master’s In Human Resources
• Best Online Project Management Degrees
• How To Become A CPA
• How To Become A Financial Advisor
• How To Become An Accountant
• How To Become An Investment Banker
• How To Become A Product Manager
• How To Become A Project Manager
• How To Become An Actuary
• Why Pursue A Career In Finance?
• Possible Jobs With A Business Management Degree
• How To Choose A Career In Marketing
• What Can You Do With An Accounting Degree?
• Alternatives To An MBA
• Earning A Business Administration Bachelor’s Degree
• Earning A Bachelor’s In Marketing
• Bookkeeping vs Accounting
• What Does An M.B.A. Cost, And Is It Worth It?
• Should You Get An MBA In Finance?
• Earning A Finance Degree
• Earning An Online MBA In Accounting

Best Online Master’s In Management Of 2024

How To Become A Flight Attendant: Salary And Job Outlook

How To Become A Travel Agent: Job Outlook And Requirements

How To Become A Real Estate Agent: Job Outlook And Certifications

Best Online M.B.A. Accelerated Programs Of 2024

Best Online Associate Degrees In Business Management Of 2024

Ian (he/him) is a contributing writer and a communications professional. He holds a master’s degree in sociology, and currently, he a is a doctoral candidate completing his dissertation.

Jump to navigation

Search form

The Graduate School

• Faculty/Staff Resources
• Programs of Study Browse the list of MSU Colleges, Departments, and Programs
• Graduate Degree List Graduate degrees offered by Michigan State University
• Research Integrity Guidelines that recognize the rights and responsibilities of researchers
• Online Programs Find all relevant pre-application information for all of MSU’s online and hybrid degree and certificate programs
• Graduate Specializations A subdivision of a major for specialized study which is indicated after the major on official transcripts
• Graduate Certificates Non-degree-granting programs to expand student knowledge and understanding about a key topic
• Interdisciplinary Graduate Study Curricular and co-curricular opportunities for advanced study that crosses disciplinary boundaries
• Theses and Dissertations Doctoral and Plan A document submission process
• Policies and Procedures important documents relating to graduate students, mentoring, research, and teaching
• Academic Programs Catalog Listing of academic programs, policies and related information
• Traveling Scholar Doctoral students pursue studies at other BTAA institutions
• Apply Now Graduate Departments review applicants based on their criteria and recommends admission to the Office of Admissions
• International Applicants Application information specific to international students
• PhD Public Data Ph.D. Program Admissions, Enrollments, Completions, Time to Degree, and Placement Data
• Costs of Graduate School Tools to estimate costs involved with graduate education
• Recruitment Awards Opportunities for departments to utilize recruitment funding
• Readmission When enrollment is interrupted for three or more consecutive terms
• Assistantships More than 3,000 assistantships are available to qualified graduate students
• Fellowships Financial support to pursue graduate studies
• Research Support Find funding for your research
• Travel Funding Find funding to travel and present your research
• External Funding Find funding outside of MSU sources
• Workshops/Events Find opportunities provided by The Graduate School and others
• Research Opportunities and programs for Research at MSU
• Career Development Programs to help you get the career you want
• Graduate Educator Advancement and Teaching Resources, workshops, and development opportunities to advance your preparation in teaching
• Cohort Fellowship Programs Spartans are stronger together!
• The Edward A. Bouchet Graduate Honor Society (BGHS) A national network society for students who have traditionally been underrepresented
• Summer Research Opportunities Program (SROP) A gateway to graduate education at Big Ten Academic Alliance universities
• Alliances for Graduate Education and the Professoriate (AGEP) A community that supports retention, and graduation of underrepresented doctoral students
• Recruitment and Outreach Ongoing outreach activities by The Graduate School
• Diversity, Equity, and Inclusion Funding Funding resources to recruit diverse students
• Graduate Student Organizations MSU has over 900 registered student organizations
• Grad School Office of Well-Being Collaborates with graduate students in their pursuit of their advanced degree and a well-balanced life
• Housing and Living in MI MSU has an on and off-campus housing site to help find the perfect place to stay
• Mental Health Support MSU has several offices and systems to provide students with the mental health support that they need
• Spouse and Family Resources MSU recognizes that students with families have responsibilities that present challenges unique to this population
• Health Insurance Health insurance info for graduate student assistants and students in general at MSU
• Safety and Security MSU is committed to cultivating a safe and inclusive campus community characterized by a culture of safety and respect
• Why Mentoring Matters To Promote Inclusive Excellence in Graduate Education at MSU
• Guidelines Guidelines and tools intended to foster faculty-graduate student relationships
• Toolkit A set of resources for support units, faculty and graduate students
• Workshops Workshops covering important topics related to mentor professional development
• About the Graduate School We support graduate students in every program at MSU
• Strategic Plan Our Vision, Values, Mission, and Goals
• Social Media Connect with the Graduate School!
• History Advancing Graduate Education at MSU for over 25 years
• Staff Directory
• Driving Directions

PhD Salaries and Lifetime Earnings

PhDs employed across job sectors show impressive earning potential:

“…[T]here is strong evidence that advanced education levels continue to be associated with higher salaries. A study by the Georgetown Center on Education and the Workforce showed that across the fields examined, individuals with a graduate degree earned an average of 38.3% more than those with a bachelor’s degree in the same field. The expected lifetime earnings for someone without a high school degree is $973,000; with a high school diploma, $1.3 million; with a bachelor’s degree, $2.3 million; with a master’s degree, $2.7 million; and with a doctoral degree (excluding professional degrees), $3.3 million. Other data indicate that the overall unemployment rate for individuals who hold graduate degrees is far lower than for those who hold just an undergraduate degree.” - Pathways Through Graduate School and Into Careers , Council of Graduate Schools (CGS) and Educational Testing Service (ETS), pg. 3.

Average salaries by educational level and degree (data from the US Census Bureau, American Community Survey 2009-2011, courtesy of the Georgetown University Center on Education and the Workforce):

The Bureau of Labor and Statistics reports higher earnings and lower unemployment rates for doctoral degree holders in comparison to those with master’s and bachelor’s degrees:

According to national studies, more education translates not only to higher earnings, but also higher levels of job success and job satisfaction:

“Educational attainment – the number of years a person spends in school – strongly predicts adult earnings, and also predicts health and civic engagement. Moreover, individuals with higher levels of education appear to gain more knowledge and skills on the job than do those with lower levels of education and they are able, to some extent, to transfer what they learn across occupations.” - Education for Life and Work (2012), National Research Council of the National Academies, pg. 66.

• Call us: (517) 353-3220
• Contact Information
• Privacy Statement
• Site Accessibility
• Call MSU: (517) 355-1855
• Visit: msu.edu
• MSU is an affirmative-action, equal-opportunity employer.
• Notice of Nondiscrimination
• Spartans Will.
• © Michigan State University

Doctorate (PhD), Business Administration Degree

Doctorate (PhD), Business Administration Jobs by Salary

Featured content, related degrees by salary.

Degrees in the same industry as Doctorate (PhD), Business Administration, ranked by salary

Avg. Salary $57k — $179k

Avg. Salary $75k — $152k

Avg. Salary $101k

Years of Experience

Gender breakdown for doctorate (phd), business administration, job satisfaction.

• SUGGESTED TOPICS
• The Magazine
• Newsletters
• Managing Yourself
• Managing Teams
• Work-life Balance
• The Big Idea
• Data & Visuals
• Case Selections
• HBR Learning
• Topic Feeds
• Account Settings
• Email Preferences

Why a Doctorate in Business Administration Is Becoming More Valuable

Sponsor content from upGrad.

At the turn of the 20th century, the world was industrializing at a rapid pace. Businesses were growing larger and more complex, with more employees working in more diversified divisions spread across more geographical boundaries.

As a result, demand grew for people who had special training in managing the general operations of a business, which led to the creation and proliferation of the Master of Business Administration (MBA) degree.

More than 100 years later, MBAs have become a commodity that no longer serve organizations’ core needs.

In today’s age of data and information, knowledge has become the most valuable resource. Companies don’t necessarily need more general managers who can assess broad patterns across multiple industries—they need people with deep expertise in specific domains who can analyze data and generate unique insights that lead to better business decisions.

That’s why Doctorate in Business Administration (DBA) holders are becoming increasingly valuable in the modern workplace.

DBA is a professional degree representing the highest level of qualification in management. In contrast to an MBA, it takes students on a different path toward acquiring and using business knowledge.

For an MBA, students spend two years taking a broad range of practical courses to learn about several pillars of business—such as accounting, finance, marketing, leadership, operations, strategy, and ethics—to help them become effective leaders across many industries.

By contrast, DBAs spend up to two years studying academic literature across several domains and up to two additional years designing and executing an original research project: a dissertation focused on one domain. The primary goal of a DBA is to produce scholarly individuals who have deep expertise in a field of management.

When seeking executive-level positions, DBAs’ “Dr.” titles are likely to help them stand out from their peers. DBAs can also pursue high-level positions in areas such as consulting by becoming subject-matter experts—or maintain ties with academia as full-time or adjunct professors.

DBAs’ training gives them diverse career options. The academic literature they read gives them expertise in understanding management theories that can help them analyze real-world situations and differentiate the signal from the noise. A DBA specializing in innovation can assess whether newcomers to a market pose a credible threat as a disruptive innovation to an existing company.

Students then learn advanced scientific techniques in quantitative and/or qualitative methodologies, which trains them in analyzing data to generate valid inferences that their organizations can use for decision-making purposes. Rather than relying on gut feel and graphs, DBAs can use powerful techniques such as sampling data to reduce bias, using statistical regressions to identify the strongest factors that influence an outcome, or designing an experiment to gain 100% certainty over the causal relationship between variables.

Finally, DBAs combine their business knowledge with analytical skills to design and execute original research studies, making them the world’s leading experts in particular domains.

DBAs also stand out because they represent only 2% of all people who hold higher degrees in business. In 2021, more than 250,000 students graduated with MBAs or specialist degrees in business; only 5,000 graduated with doctorates.

While a DBA may represent an attractive option that can be highly valuable to organizations today, they are not necessarily recommended for everyone.

To help you determine whether a DBA is right for you, the most important question to ask yourself centers on whether you’re satisfied with the tools and frameworks you use to analyze data and information to make important business decisions. If you’ve ever found yourself wondering where these frameworks come from—or whether there might be a better way to make decisions—consider applying to a DBA program. These programs are designed to channel deep intellectual interests and passions toward producing business knowledge that’s both theoretically novel and practically relevant.

DBA training may help you develop deeper knowledge than an MBA program will while opening doors to more ambitious careers in industry or academia. While MBA degrees are designed to meet the needs of 20th-century businesses, DBAs can help meet the needs of organizations today—and well into the future.

Learn more about how earning a DBA can help you step up your career.