The business community worldwide is very competitive nowadays hence, banking on just your bachelor’s and master’s degree in business administration and work experience may not be enough. Leading experts believe that earning a doctoral degree in business administration (DBA) will surely put you ahead and will help you get a high-paying job thereby ensuring a long-term financial stability. Many employers these days are also willing to finance the tuitions of their people so they can gain expertise through advance education online.
A survey by the MSN/Money showed that business degrees rank second to degrees in science, engineering, medicine or law as aids to higher salaries and career advancement. For instance, it showed that a business executive with a master’s degree in business administration earns an average of $180,000 more compared to one with a master’s degree in the field of liberal arts. Meanwhile, the U.S. Bureau of Labor Statistics said that in 2004, the average salary of a chief executive officer (CEO) was $140,350 adding that competition in this position is really tough. Another survey done by the National Association of Colleges and Employers said starting salaries for business graduates went up more than 49% since 1996 with the average now pegged at $43,313.
For business professionals and executives wanting to pursue higher education, an online doctoral program in business and management is best recommended. The convenience is there, you learn at your own pace and can go on working in your present job. A doctoral business program usually teaches students about philosophies of business management, risk taking, management practices and the role of technology in businesses. And although graduates are not guaranteed a certain job or specific salary rate, having a doctorate degree is an edge from other business graduates.
Business and technology are considered the most popular online degrees. In fact, the trend now is a combination of business and technology. Universities have also responded to this by offering degrees in technology management, e-business and the like. Meanwhile, specialized doctorate business degrees include applied management and decision sciences, engineering management, finance, information systems management, knowledge management, learning management, leadership and organizational change and operations research.
It is a reality that employers are utilizing online learning to train or re-train their people in various skills needed to perform their jobs better and eventually advance their certification. Employees can engage in online training as part their present job or they can learn on their own. This proves to be a good opportunity to acquire more knowledge and earn a higher salary.
