A Doctor of Philosophy in Business is the highest degree possible in the world of business. By earning a Ph.D., business leaders can take their leadership skills to the next level, pushing themselves toward the top of their organizations. A Ph.D. in Business also opens the door to teaching careers at the university and graduate school levels.
Earning an online Ph.D. in Business is a wise way to gain these skills while maximizing your time commitment. There are many perks to pursuing an online degree in business. From the flexibility of these programs to the skills you will gain, here are nine reasons to pursue an online Doctor of Philosophy in Business.
1. Improve Your Competitiveness.
Today’s business climate requires a business degree, and a large number of job seekers are pursuing MBA degrees, as well. In fact, 96% of Fortune 100 companies prefer to hire candidates with MBAs, so their short list of candidates will have this as a minimum education requirement. So, how can you stand out? The answer may be in getting a doctoral degree.
In a competitive job market, the more you can do to stand out from the crowd, the better your overall chances of success. If you already have a business graduate degree, then a doctoral degree will really establish your skill set in the eyes of your employer. It shows that you are serious about your career and are committed to improving yourself and your skills. If you are planning to enter the job market in search of a new position, it can provide the competitive edge you need. If you are hoping to move up within your existing organization, it can be the additional training that launches new-found success.
2. Earn a Doctoral Degree While Still Working.
A Doctor of Philosophy in Business Degree is usually a degree for those already working in the business world. One of the benefits of an online Doctor of Philosophy in Business program is the learning flexibility it offers. You do not have to put your career on hold to pursue a doctoral degree, and you can study in the comfort of your home. Because the degree is completed online, you don’t have to go to campus or study on a specific schedule. This flexibility is vital in helping you stay on top of your coursework while continuing to work on your career goals.
3. Prepare for a Career in Academia.
Not all doctoral degree holders stay in the business world. Sometimes, a Ph.D. program can be the steppingstone for a career shift. If you are ready to step out of the business world and into leadership in a different venue, a Ph.D. in Business may set the stage for that role. This degree allows you to step into teaching position at the university level because you will study the philosophies and theories that surround the business world. You will then be prepared to impart that knowledge to the next generation of business leaders. The demand for post-secondary teachers is expected to grow by 12% in the next decade, so this opens the door to a greater number of potential job options, especially if you feel a desire to step away from working directly in business.
4. Access Improved Earning Potential.
If you decide to stay in the business world, then a Doctor of Philosophy in Business program may help you earn more throughout your career. Many people with a doctoral degree will rise to one of the top business executive positions within their organizations, positions with high earning potential. In fact, in 2021, management occupations had the highest median annual salary of all occupations, with an average of $102,450. Chief executives, specifically, have a mean annual wage of $213,020 a year, and those with a doctoral degree are projected to earn even more. If you pursue a doctoral degree in business philosophy with a flexible online program, you will likely have higher earning potential.
5. Be at the Forefront of Innovation.
Doctoral programs are heavy in research, and doctoral degrees in business are no exception. When you perform research, you position yourself as a leader in business innovation. Studying business philosophy on the doctoral level helps you build on the experience and knowledge of leaders in the business world, improving that knowledge through research and projects. You will innovate the world of business when you understand people and how they interact with each other and businesses. If you are passionate about seeing the world of business change and improve, a doctoral degree may be the foundation you are looking for.
6. Earn a Doctoral Degree Quickly.
Every doctoral student has a different timeline for completing their degree. For some, speed is important, because they want to move forward with their career goals as quickly as possible. By pursuing your Doctor of Philosophy in Business program online, you can often fast-track learning. You have a degree of control over your pace, and it is possible to earn your degree more quickly.
Of course, if life happens and you need to slow down a little, you also have the option to do that. When you are not tied to a strict campus schedule, you can gain your skills at a pace that works for your career and education goals. A flexible timeline is yet another perk of studying online.
7. Apply Your New Knowledge in Your Career Field Immediately.
Another benefit of pursuing an online doctoral degree in business philosophy is the fact that you can instantly apply your learning. Since you are working while you study online, you have a place to apply what you are learning in the real world. The theories you cover in the classroom come alive in the workplace, and you have a built-in research pool to tap for projects and papers. Your organization will benefit from your training even before you graduate as you apply what you learn.
You can perform surveys and observations at your workplace or tackle doctoral research projects in a real-world environment. You can put into practice the knowledge you gain in your studies right away in your workplace. This makes your studies more practical as you can see the fruits of your labor in real working environments. It also allows you to bring more insight into classroom discussions as you tackle problems and concerns at work.
8. Become a Recognized Leader.
As you pursue your doctoral degree online, you will gain the opportunity to interact with some of the top people in business. As your academic accomplishments grow, you will become one of those leaders. Your degree program will give you opportunities to network with business leaders, and through that network, you can position yourself as a leader as well. The knowledge you gain could also earn you the respect of your peers. Whether you start working in research, academia, or management, you will be recognized as a leader because of your academic accomplishments.
9. Build Global Connections.
Today’s business world is a global one. Companies typically do business with people and organizations that are far from them geographically. Having global connections is vital for business leaders, and this is one of the perks of studying for your doctoral degree in an online program.
When you study for your Ph.D. in Business online, you have the benefit of learning from a global base of instructors and students. Many of your fellow students will be from different parts of the country, bringing unique cultural insights into your program. You may even have instructors are outside your local area, which can also help expand your knowledge. Overall, you will be able to network with people outside of your geographic area, and that will expand your network of business connections.
Pursue Your Doctor of Philosophy in Business with University of the Cumberlands
If you want the benefits of a Doctor of Philosophy in Business degree, but need the flexibility of a fully online program, consider University of the Cumberlands. Our doctoral program is completed entirely online, giving you the flexibility you need to pursue a degree even while you are busy working in your field. It helps prepare students for business roles that require complex critical thinking to solve real-world business problems. It also gives students the skills they need to instruct business leaders at the university level. Whether you are pursuing a teaching position or want to rise within the ranks of your organization to become a leader, you will find that a Ph.D. in Business may give you the opportunities you are searching for.
To learn more about an online Doctor of Philosophy in Business program, reach out to University of the Cumberlands today. Talk to an admissions counselor to see if this degree could help you reach your professional goals.