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The Value of a Doctorate Degree in the Business Field

written by: Ivy N. McQuain MBA•edited by: Ronda Bowen•updated: 6/27/2011

With millions of Americans heading back to the classroom to obtain a higher degree, you may be wondering where you fight within your company. The power of a masters is decreasing but research is finding that the value of a doctorate degree in business. Learn about this option for education here.

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    Why Think about Getting Another Advanced Degree?

    Retrieved from Free Digitial Image As the economy continues to change, so do the requirements from employees and now a masters degree in business no longer has the prominence and weight it once held. Unfortunately, this realization is the realization of millions of business degreed professionals with regard to the seemingly decreased value of their business degrees. With the easy accessibility of business degrees, bachelors and masters, millions of individuals are flooding business schools with applications and are being accepted. There is no longer a differentiation of professional skill sets because it seems that everyone has a business degree.

    The new differentiator in the business world is a doctorate degree in the business field. A doctorate degree in the business field is the highest level of educational achievement, and it can earn you a six-figure income. In a global business economy, a doctorate in the business field is valuable. Now that you are ready to consider a doctorate in the business field you should understand that there are four types of doctorate degrees:

    • Professional doctorates are degrees for individuals seeking a profession over a career in research. The degree type for this doctorate is a DBA or a doctorate in business administration.
    • Research doctorates are known as a PhD or a Doctor of Philosophy and are highly recognized in academic research.
    • Higher doctorates are degrees often awarded in other countries.
    • Honorary doctorates are just that… honorary for individual’s who make a contribution to a body of work or field. Think Bill Cosby.
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    The Value of a Doctorate Degree in the Field of Business

    There are a lot of options to attending a graduate school to complete your doctorate degree in the business field. You have the choice of attending a traditional college and going to class as well as attending an online university. Either method of receiving your doctorate you have to find which program option is valuable to you. The value of a doctorate degree in business at a traditional college is the access to professors and researches. The drawback is physically being at the campus, which if you are still working is time consuming. The value of a doctorate degree in business at an online college is the convenience and ease to access an abundance of resources. The drawback may be the cost and the inaccessibility of faculty members when needed. Online universities also offer the challenge of credibility and accreditation. Before you apply to an online university or a traditional college you have to make sure you understand the following:

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    Conclusion

    You may still be asking yourself, what is the value of a doctorate degree in business? That question is more of a personal question to answer. If you want to distinguish yourself from others in your field, then there is a value of a doctorate degree in business. If you want to earn a six-figure income, then there is a value of a doctorate degree in business. If you want to become an academic professor, then there is a value of a doctorate degree in business. But whatever you choose you have to make that determination before you exhaust time and money into pursuing a doctorate degree in the business field.

    ***Photo retrieved from Free Digital Image at freedigitialimage.net on January 14, 2011.