Every profession including business has a stage in their career and wants to know what they can do to promote professional development. If you work in management and want to know the same things, then the best way is to get a doctorate in business administration.
Not only will a DBA open many doors for you, but it will also help you become competent management professional. Given below are the top 5 reasons you should pursue a doctorate in business management:
1. High income in business
First of all, having a doctorate in business administration can significantly increase your income potential. The average annual salary of MBA professionals in India is INR 779,000. On the other hand, the salary package of an Indian DBA professional is 2.6 million Indian rupees, which is I about 3.5 times that of an MBA. Please note that we only shared the average salary in this field. Depending on experience and skills, your salary in this industry may be higher.
2. Expand your horizon
After earning a Ph.D. in business administration, you will not only make a higher salary, but you will also be eligible for positions of responsibility in different companies. Assuming a senior management position in the company you want will be a much easier task for you because you will become a management expert and specialize in specific disciplines.
3. Stand out
Unlike other courses, DBAs are typically taken by experienced executives and workers who already have an MBA degree and professional experience. These professionals choose to study DBA because they want to become technical experts in the field or want to stand out from others in highly competitive environment. A DBA not only shows that you are an expert in your industry, but it also shows that you are committed to professional and personal growth and that you are willing to work harder.
4. Stay up to date
With many new technologies such as artificial intelligence and machine learning entering the market, it can be challenging to keep up with them. However, professionals who keep up with technological changes are ahead of the market, and so are professionals who are not behind. One important reason you should consider studying for a Ph.D. in Business Administration is that it will familiarize you with the latest skills and technologies.
5. Professional and academic
The difference between the Doctor of Management degree and other doctoral programs is that it is a professional qualification and an academic qualification. Most postgraduate programs are academic qualifications, and only one person can engage in research and academic progress. On the other hand, as a DBA, you can choose to apply your complex knowledge in management and related fields directly to your business and help your organization grow accordingly.
Edited by Aishwarya Ingle