Every profession, including business, has a stage in its career and wants to know what it can do to promote professional development. If you are in management and want to know the same things, the best way is to get a doctorate in business administration.
Not only will a DBA open many doors for you, it will also help you become a competent management professional. Here are the top 5 reasons why you should pursue a PhD in Business Management:
1. High income in business
First of all, having a doctorate in business administration can dramatically increase your income potential. The average annual salary of MBA professionals in India is INR 779,000. On the other hand, the salary package for an Indian professional DBA is 2.6 million Indian rupees, which is about 3.5 times that of an MBA. Please note that we have only shared the average salary in this area. Depending on experience and skills, your salary in this industry may be higher.
2. Broaden your horizon
After obtaining a doctorate. in Business administration, you will not only receive a higher salary, but you will also be eligible for positions of responsibility in different companies. Taking on a managerial position in the company you want will be a much easier task for you as you will become an expert in management and specialize in specific disciplines.
3. Stand out
Unlike other courses, DBAs are usually taken by experienced managers and workers who already have an MBA and work experience. These professionals choose to study DBA because they want to become technical experts in the field or want to stand out from the crowd in a highly competitive environment. A DBA not only shows that you are an expert in your industry, but it also shows that you are determined to develop yourself professionally and personally, and that you are ready 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 difficult to keep up with them. However, professionals who keep up with technological developments are ahead of the market, just like professionals who are not behind. An important reason why you should consider studying for a doctorate. in Business Administration is that it will familiarize you with the latest skills and technologies.
5. Professional and academic
The difference between the Doctorate in Management and other doctoral programs is that it is a professional qualification and an academic qualification. Most postgraduate programs are university degrees, and only one person can engage in research and academic advancement. 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