phd in business administration salary

• January 28, 2022
• Education Advice

Doctorate In Business Administration Salary

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Earning the title of doctor is only one of the many benefits associated with a Doctorate of Business Administration (DBA) degree. Upon earning this degree, you will attain the highest level of education in the business administration field . However, the path towards a DBA is not an easy one. According to official data from the U.S. Census Bureau , only about 2% of adults attained a doctorate in 2020, and an even smaller percentage of that are people who have a DBA. So, this makes doctorates quite rare and valuable.

If you are intrigued about pursuing a doctorate in business administration but are unsure of whether it is worth committing your time and energy to it, let’s have a look at some of the most important aspects you should have in mind while making your decision. Throughout this article, we will go through some of the many benefits of DBAs, such as job prospects, the doctorate in business administration salary, and career options you would have.

DBA Job Outlook

Doctorate degrees are of the highest level of academic achievement, and as such, are accompanied by scholarly respect and an improvement in one’s employment prospects.

Business administration is a stable career option, as the projected job outlook for business and financial operations occupations is estimated to grow about 8% throughout the decade . However, this percentage can vary depending on what position within the business administration field you decide to pursue. Of course, with a DBA, you will have a higher level of education than most candidates, so this gives you an extra edge in the job market.

DBA Degree Median Salary

Aside from the increased employability, the doctorate in business administration salary is another benefit of pursuing such a degree. According to the U.S. Bureau of Labor Statistics (BLS) , in 2021, doctoral degree holders earned a median weekly salary of $1,885, much higher than the average for master degree holders who earned $1,545 or bachelor with $1,305.

What Can You Do with a Doctorate in Business Administration?

When you pursue a doctorate of business administration degree, you are not following only one path that will lead you to a specific career. Instead, the degree opens doors to a variety of jobs, and each one has a high average salary for doctor of business administration. From positions related to management to ones in education, economics, and marketing research, continue reading as we go through the top careers, their job prospects, and the DBA degree median salary for each one.

As an economist, you would be responsible for helping create economic and financial forecasts and models for the company. Some of your primary duties would be to analyze large amounts of data, develop economic policies, conduct market research, and to create financial reports for the company’s executives. Following this path can one day lead you to the position of chief business officer or even senior economist.

Job prospects and salary

The Bureau of Labor Statistics projected that the employment of economists would grow faster than the average for all occupations. The growth rate for this position in the job market is 13%, resulting in about 1,600 job openings each year over the decade.

You will not be dealing with money only on the job. As an economist, you can expect to earn around $108,911 per year . At the beginning of your career, salaries can be lower as you make about $64,373 per year, but with time and hard work, the salary can rise all the way to $184,265 per year.

Management analyst

After obtaining your DBA, you could use your knowledge and skills as a management analyst. In this position, you would be responsible for planning and leading operations that assist the company’s management in ensuring employees work efficiently. Furthermore, some of your daily tasks include collecting and organizing information related to issues that arise within the company, finding solutions to those issues, conducting organizational studies on employees, and examining financial data. You would also have to observe the staff and communicate effectively with them to ensure the implemented policies, systems, and procedures function successfully.

Management analysts continue to be high in demand as their employment is projected to grow faster than the average for all occupations at around 14% from 2020 to 2030 . This growth rate will result in 99,400 openings for management analysts each year, and each one will be paid, on average, around $81,541 annually .

Earning a DBA means that you have expert-level knowledge in the business administration field and are eligible to work as a professor teaching, guiding, and training students who also want to pursue this specialization. While working as a professor, your duties include designing curriculum plans for your classes, providing tutoring and academic counseling to students, assessing the students, and keeping records of their work.

The world can always use having skilled people who are willing to share their knowledge with others. That is why the job outlook for the professor occupation is around 12% . This percentage is higher than the average of all other professions.

If that was not enough reason to convince you of how excellent this profession is, let us have a look at a professor’s DBA degree salary. In the United States, professors make around $113,111 per year , although, with experience in certain schools, you can earn up to $221,883 per year.

Market research analyst

Another career you should consider is that of a market research analyst. In this position, you would be responsible for observing customer preferences and gathering statistical data to help clients with their decision-making process about various products and their fees. The majority of market research analysts also have to deal with other duties related to analyzing data and trends, as well as utilizing different strategies and techniques so that they surpass their competition.

One of the fastest-growing jobs in this list with a projected 22% growth rate is the market research analyst position. There will be around 96,000 openings for such roles each year throughout this decade, as the profession continues to grow much faster than most other occupations.

In the United States, the national average salary for a Market Research Analyst is estimated to be $60,280 per year . Reports show that the salary can range from $40,580 per year to $89,545 per year.

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C-level executive

You can also pursue the position of C-level executive and work as an employee at the top of the company’s administration team. With this career choice, you will be the one who helps make key decisions within the company. The responsibilities of a Chief-level executive are mostly related to strategies and management, as they have to deal with strategic planning by collaborating with other c-level executives, collecting valuable information by conducting research and generating reports- which are later on used for decision-making.

Top executive jobs that help run facilities are still in demand as the position of a c-level executive is projected to grow 8% from 2020 to 2030, resulting in about 247,100 openings each year.

Other reports show that the average annual salary for c-level executives is $59,255. The exact salary depends on the establishment where you work and the experience you have gathered, as it can range from $34,530 per year to $101,683 per year.

Department chair

With a DBM, you will also be eligible for the position of a department chair, which the dean assigns to manage an academic department by examining all operations related to it and its connection to the whole facility. As a department chair, you will be functioning as the link between your department’s staff and the institution. You would oversee the hiring process, help resolve conflicts, and supervise the team’s work to ensure it is in accordance with the general administrative goals set by the executive board.

The role of the department chair is evaluated to have a job prospect in the same percentage as the average for all other occupations. So, the estimated growth of department chair positions throughout this decade is 8%. In addition to this percentage, expect to be paid around $88,080 per year to deal with a department chair’s responsibilities.

As one of the key members of an institution of higher learning’s executive leadership team, the position of Dean is tasked with providing administrative and academic guidance for their schools. When working in this position, you will serve as an advocate of the college or university’s mission and goals and are responsible for informing students about the admission and campus of the institution, as well as supporting the students and their social programs.

The post of a dean is one of the many postsecondary education administration positions expected to keep a stable growth rate of 8% throughout the decade. Pair that with an average salary of $99,266 per year with the possibility of it reaching $183,251 per year, and you have got yourself a lucrative and bright career ahead of you.

Last but certainly not least, working as a chancellor means you would be the head of a higher education institution. You would supervise, lead, and mentor the staff and students so that you all work together to help the institute achieve its intended goals. Other customary tasks deal with formulating educational plans and programs, managing the administration board, plan various programs related to academic functions within the institution.

The career path of a chancellor is steady, as reports by the Burau of Labor Institution state that the average growth rate for positions related to postsecondary education administration is around 8% , which is as fast as the average for other career options.

Another steady aspect of this job is the salary, with an estimated median salary of $87,186 which can go up to $154,238 over the years—working as a chancellor is a safe choice for your future.

All in all, pursuing a doctorate in any field and committing so much of your time to the program is a tough decision to make. But, if you are certain you want to become an expert in business administration, secure important positions, and enjoy a lucrative career, then go for a DBA and place the title of “Dr.” before your name.

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Best Doctorates in Business Administration: Top PhD Programs, Career Paths, and Salaries

Many professionals are looking for ways to stand out amongst their peers and secure employment in today’s competitive job market. One strategy to make yourself a highly attractive candidate to employers is to advance your education. This article discusses the best PhDs in Business Administration so you can land one of the best business administration jobs.

You’ll discover the ten best programs in the United States to earn a PhD in Business Administration, including online programs accessible anywhere in the world. You’ll also learn about some of the best business administration jobs, their salaries, and job outlooks. Finally, you’ll learn the answers to some of the most frequently asked questions about what it’s like to get a business administration PhD.

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What is a phd in business administration.

A PhD in business administration is a research-based degree that trains doctoral students to contribute to the field of business education by studying and testing business theory. Students in doctorate business administration programs conduct research and use theory to solve problems in the business world. A PhD degree is a terminal degree, meaning it is the highest achievable degree in the field of study. It is typically awarded to a university professor who conducts research that contributes to an institution’s academic resources.

How to Get Into a Business Administration PhD Program: Admission Requirements

The most important requirements for acceptance into a business administration PhD program is usually a Master’s of Business Administration (MBA),or in some cases an undergraduate degree. Professional experience is also sometimes required, depending on the institution. Some programs may have additional admission requirements such as proof of English proficiency for international students.

Doctoral degree in business administration programs require proof of excellence in preceding levels of education. For instance, a minimum 3.0 GPA is necessary for admission to most programs. You’ll also need to provide relevant documentation including transcripts, letters of recommendation, a resume, and a statement of purpose.

PhD in Business Administration Admission Requirements

• Graduate Application for Admission
• Official transcripts from previous institutions
• GMAT or GRE Scores
• Official proof of degree(s) from previous institution(s)
• Statement of Purpose
• Letters of recommendation
• TOEFL or IELTS scores for international students

Business Administration PhD Acceptance Rates: How Hard Is It to Get Into a PhD Program in Business Administration?

It is very hard to get into a PhD program in business administration because most institutions only admit at most 5 candidates per year. These limited slots are dependent on funding and make programs very competitive.

To get into a PhD program, a student should have a high GPA, high scores in standardized tests, a lot of research experience, a business background, and a compelling statement of purpose expressing intent to conduct research that will be beneficial to the university.

How to Get Into the Best Universities

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Best PhDs in Business Administration: In Brief

Best universities for business administration phds: where to get a phd in business administration.

If you’re wondering where to get a PhD in business administration, we have compiled an in-depth list of possibilities. The following list of the best universities for business administration PhDs are known for their high standard of academic excellence as well as their accomplished faculty members and cutting-edge resources. Let’s dive in.

Founded in 1885, Arizona State is a public research institution with one of the largest enrollments in the country. The Graduate College offers over 400 degree options in business, engineering, and technology, among other fields. The world-renowned W.P Carey Business School offers a doctoral business program with many areas of specialization.

PhD in Business Administration 

Arizona State University’s PhD in Business Administration with a concentration in management  is designed to give scholars the tools to assume diverse roles at leading research institutions. There is an emphasis on developing research and teaching skills. It is a two-part program, with a 12 credit hour foundational requirement and a minimum 30 credit hour advanced requirement.

PhD in Business Administration Overview

• Program Length: 5 years
• Acceptance Rate: Approximately 5% to 10%
• Tuition and Fees: $32,632/year (in-state); $44,456/year (out-state)
• PhD Funding Opportunities: Fellowships, awards, employment, work-study, grants, and scholarships
• 3.0-4.00 grade point average in the last 60 semester hours or 90 quarter hours of undergraduate coursework 
• Graduate admission application
• Non-refundable application fee
• Official transcripts 
• TOEFL or IELTS scores for non-native English speakers 
• GMAT or GRE scores
• Official degree certificate for some countries 

Drexel University is a private research institution. A large urban university, it currently has over 24,000 students in more than 70 undergraduate and more than 120 postgraduate programs. LeBow College of Business offers two PhDs: business and economics.

Doctorate in Business Administration

Drexel’s Doctorate in Business Administration offers senior managers training in scientific methodology that will prepare them to tackle complex industry challenges and academic careers. It makes use of Drexel’s 120 years of experiential learning to provide a solid foundation in applied research and analysis. Students are required to complete a minimum of 60 credits within a period of two and a half years (10 consecutive quarters) for the DBA degree. 

Doctorate in Business Administration (DBA) Overview

• Program Length: 2.5 years
• Acceptance Rate: N/A
• Tuition and Fees: $2,000/credit hour
• PhD Funding Opportunities: Assistantships, Fellowships, Awards 

Doctorate in Business Administration (DBA) Admission Requirements

• Minimum GPA of 3.0 on a 4.0 scale for undergraduate coursework and minimum GPA of 3.3 on a 4.0 scale for graduate-level coursework
• Official transcripts
• Standardized Tests Score GMAT/GRE 
• TOEFL or IELTS scores for non-native English speakers
• Statement of purpose 
• Letters of recommendation 

Duke University is a highly competitive private research institution. It’s ranked among the top universities in the world with an acceptance rate of 5.7 percent and offers one of the best PhDs in Business Administration. Duke’s current enrollment is approximately 17,000 students with around 10,000 postgraduates. 

PhD Program in Business Administration

Duke’s PhD in Business Administration offered by the Fuqua School of Business prepares students for academic careers at leading educational institutions and business careers that require advanced analytical and research skills. 

The program offers various concentration areas including accounting, marketing management, and decision sciences. To graduate, you must complete a minimum of 79 credits or 65 credits for joint degree students. 

PhD Program in Business Administration Overview

• Acceptance Rate: Approximately 2% to 8%
• Tuition and Fees: $17,755/year, typically covered by the university
• PhD Funding Opportunities: Stipends, assistantships, tuition coverage, fee coverage, coverage of health insurance premiums, and fully funded training program appointments.

PhD Program in Business Administration Admission Requirements

• 3 letters of recommendation
• Competitive GMAT or GRE scores 
• TOEFL, IELTS, or Duolingo test scores for non-native English speakers
• Undergraduate GPA on a 4.0 scale
• Statement of purpose

Fordham University is a private Jesuit institution with campuses in the Bronx, Manhattan, and Westchester. It is made up of four undergraduate and six postgraduate colleges with over 15,300 students. The Gabelli School of Business offers a flagship two-year business program in leadership and management for aspiring business leaders.

PhD in Business

Fordham’s doctoral business degree is a full-time study program that prepares students for careers in academia. It offers various fields of study including finance, management, information technology, marketing, and business law. Upon admission, you’ll select one of two interdisciplinary curriculum tracks: capital markets or strategy and decision-making.

PhD in Business Overview

• Tuition and Fees: Funding decisions are part of the admissions process
• PhD Funding Opportunities: Tuition remission, stipends, and healthcare

PhD in Business Admission Requirements

• Master’s in a relevant field such as economics, mathematics, finance, etc 
• Minimum GPA of 3.5 on a 4.0 scale 
• Minimum GMAT score of 700 or minimum GRE scores of 160 for both verbal reasoning and quantitative reasoning and minimum score of 5 in analytical writing 
• Minimum TOEFL Score of 105 or minimum IELTS Score of 7.5 for non-native English speakers
• Application fee of $75

George Washington University is the largest post-secondary institution in the District of Columbia. There are currently over 11,000 undergraduate and 15,500 postgraduate students in attendance, with over 70 areas of study. Its postgraduate programs span political studies, arts, law, education, business, health, and engineering. 

Doctor of Philosophy in Business Administration

This program prepares candidates for successful careers as scholars at top research institutions or for careers as contributors to the business community. There is a two-year pre-candidacy stage during which students complete coursework and a comprehensive examination, and one year long a dissertation defense stage. Students must complete 45 credits, 39 in the first two years and six in the final year.

Doctor of Philosophy in Business Administration Overview

• Program Length: 3 years
• Tuition and Fees: $1,885/credit hour
• PhD Funding Opportunities: Tuition waivers, graduate stipends or fellowships

Doctor of Philosophy in Business Administration Admission Requirements

• Master’s degree in a related field is preferred
• Minimum TOEFL score of 100, minimum IELTS score of 7.0, or minimum Duolingo score of 110 for non-native English speakers
• Application fee of $80

Harvard University is the oldest university in the US and a member of the prestigious Ivy League. It currently enrolls around 20,000 students, with approximately 6,000 undergraduates and 14,000 postgraduates. The Harvard Graduate School of Arts and Science offers a variety of graduate programs in a wide range of fields from health and sciences to engineering and computer science. 

PhD in Business Administration

The PhD in Business Administration is offered jointly by the Harvard Business School and the Graduate School of Arts and Sciences. The program has five areas of study: Marketing, Management, Strategy, Accounting and Technology, and Operations management. The coursework consists of a minimum of 13 doctoral-level semester courses and two MBA semester courses.

• Acceptance Rate: 4%
• Tuition and Fees: $52,546 full tuition
• PhD Funding Opportunities: Grants, stipends, fellowships, teaching fellowships, traineeships, research assistantships, and research funding
• Exemplary GMAT or GRE scores
• Minimum TOEFL score of 100 or minimum IELTS score of 7.5 for non-native English speakers
• Optional writing sample 
• Application fee of $105

Oregon State University is a large public university with over 32,000 students enrolled in over 200 undergraduate and postgraduate programs. The Oregon State Graduate School offers numerous programs for graduate students in disciplines such as agriculture, business, and education. The College of Business offers a business administration PhD designed to prepare students for high-level careers in business.

The College of Business offers a PhD in Business Administration with opportunities for collaborative research. You learn how to conduct research in management and marketing as well as in strategy and entrepreneurship. Students are required to complete at least 18 credits of courses in research methods and statistics, 32 in supporting programs, and 24 in strategy, entrepreneurship, and innovation.

• Program Length: 5.7 years
• Acceptance Rate: Between approximately 13% and 17%
• Tuition and Fees: $498/credit hour (in state); $1,046/credit hour (out of state)
• PhD Funding Opportunities: Scholarships and fellowships
• Master’s degree
• Minimum GPA of a B average on most recent degree
• Minimum GMAT score of 600 or equivalent GRE score. GMAT preferred. 
• Minimum TOEFL score of 91 with subscores of at least 22 on each section or minimum  IELTS score of 7 for non-native English speakers
• Application fee of $75 domestic students or $85 for international students
• Personal statement 
• Resume 

Syracuse University is a competitive private school located in a mid-size city in New York State. Current enrollment is at over 21,000 students across 13 colleges. There are over 244 professional development programs with around 4,000 masters and 100 doctoral students.

The Whitman School of Management’s PhD in Business Administration is focused on developing teaching and research skills. Candidates learn the foundations of marketing, economics, logistics, information technology, and operations management and complete their degree by writing a dissertation. To graduate, students have to complete 72 credits, 42 in coursework, six in research, 24 earned through work on a dissertation. 

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• Program Length: 5-6 years
• Tuition and Fees: $1,802/credit hour
• PhD Funding Opportunities: Tuition waiver for up to 24 credits, stipends, health insurance, research grants, and travel funding 

PhD in Business Administration Admission Requirement

• Personal statement
• Minimum TOEFL score of 100
• Master’s degree preferred 

UMGC is a public university that focuses on online education across all programs and courses. It’s one of the largest distance-learning institutions in the world with an enrollment of over 90,000 online students. It has over 120 undergraduate and postgraduate programs including business administration and management. UMGC was recognized by CEO Magazine as one of the best schools to get a Doctorate of Business Administration in 2022.

Doctor of Business Administration

UMGC’s PhD in Business Administration is designed for executive-level business professionals looking to achieve their career goals. The educational experience emphasizes organizational leadership and strategic thinking that can be applied in the business world. 

Students are required to complete at least 48 credits including three prerequisite course credits, 36 core course credits, and 12 dissertation credits. Students must attain at least a B grade in each course to advance to the next course.

Doctor of Business Administration Overview

• Program Length: Average 4 years, maximum 7 years
• Tuition and Fees: $1,087/credit
• PhD Funding Opportunities: Tuition assistance, scholarships, grants, federal financial aid, and military benefits

Doctor of Business Administration Admission Requirements

• Bachelor’s degree from an accredited institution
• Personal Statement
• 2 letters of recommendation
• Minimum TOEFL score of 79, minimum IELTS score of 6.5, or minimum EIKEN grade of Pre-1 for non-native English speakers

University of Washington is one of the flagship public institutions in Washington state. A member of the prestigious Association of American Universities, it is particularly known for its engineering, medical and scientific research. It enrolls around 50,000 students,12,000 of them in graduate degree programs. 

PhD Program in Business Administration. 

The Foster School of Business offers a doctorate degree designed to empower scholars to contribute to the advancement of knowledge in the business field. Prospective students with professional experience who are interested in academic careers will find this program particularly useful. The program is offered on a full-time basis with seven areas of specialization: information systems, finance, and management, marketing. 

• Program Length: Average 4 to 5 years
• Acceptance Rate: Approximately 3%
• Tuition and Fees: N/A
• PhD Funding Opportunities: Tuition waivers, teaching and research assistantships, fellowships, and scholarships
• Undergraduate and master's degrees
• Application fee
• 3 letters of recommendations

Can You Get a PhD in Business Administration Online?

Yes, you can get a PhD in Business Administration online by attending a high-quality institution that offers online graduate degrees. The best institutions with online business administration degrees include Drexel University, University of Maryland Global Campus, Liberty University, Florida National University, and Temple University. These institutions have the right resources to offer online doctorate degree programs that rival in-person programs.

Best Online PhD Programs in Business Administration

How long does it take to get a phd in business administration.

It usually takes between two and a half and seven years to complete a PhD in Business Administration, depending on the student and the program. Many of the best PhDs in Business Administration require five years of study, the first three years spent on coursework, and the last two dedicated to writing a dissertation.

However, PhDs can be completed in as little as two and a half years, as is the case at Drexel University. It’s really up to you how much time you want to dedicate to earning this advanced degree and how long it takes you to comprehend the advanced coursework.

Is a PhD in Business Administration Hard?

Yes, a PhD in business administration is hard. Because PhDs are designed to prepare students for careers in academia, courses are structured to teach research skills to scholars who then apply these skills when they choose a field of study.

Upon selection of this specialization, students focus on a topic of research that they write a dissertation on. PhD programs not only have rigorous courses, but they require intensive research and defense of this research.

How Much Does It Cost to Get a PhD in Business Administration?

On average, it costs $12,171 per year to get a PhD in Business Administration at a public university and $25,776 per year at a private university, according to the National Center for Education Statistics. The best institutions offering a PhDs in Business Administration typically have costs between approximately $1,000 and $1,500 per credit hour.

Online degrees are often less expensive than on-campus or even low-residency programs. Whatever route you choose for your business administration PhD, there are various financial aid avenues that can help offset the cost of earning a PhD in Business Administration.

How to Pay for a PhD in Business Administration: PhD Funding Options

PhD funding options that students can use to pay for a PhD in Business Administration include tuition waivers, tuition assistance, teaching assistantships, research fellowships, rates and discounts, scholarships, grants, federal financial aid, and military and veterans benefits as well as interest-free monthly payment plans.

If the financial burden of education is prohibitive, you can always seek support from endowment funds available at many institutions. For instance, Harvard, Duke, Drexel, and Syracuse often fund high-achieving students pursuing PhDs.

Best Online Master’s Degrees

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What Is the Difference Between a Business Administration Master’s Degree and PhD?

The difference between a business administration master’s degree and PhD lies in program design and purpose. A master’s degree program provides training for students who want to pursue a successful career as a business leader. PhD programs teach research skills that empower students to study real-world challenges and develop scientific solutions in academic careers.

Therefore, while master’s programs focus on cultivating leadership skills helpful for securing executive positions, PhDs offer research experience necessary for success in academia. Masters programs are also generally shorter than PhD programs. Masters usually require two to three years of study while PhDs take around three to five years to complete, potentially even longer.

Both degrees have minimum credit requirements for graduation, but a Master in Business Administration culminates in a thesis, while a PhD in Business Administration culminates in a dissertation. PhDs programs are also typically somewhat more rigorous as this is the terminal degree in the field.

Master’s vs PhD in Business Administration Job Outlook

The Master’s in Business Administration job outlook is good. There are many potential high-paying and interesting jobs you can get with this degree such as computer and information systems manager, medical and health services manager, and human resources manager. Professions such as management analyst and accountant also require MBAs.

The PhD in Business Administration job outlook is also great. If you want to be an executive, economist, or analyst a PhD can help you achieve your goal. Also, because of the emphasis on research and education, PhD holders are equally prepared to become post-secondary education administrators, training and development managers, and professors.

Difference in Salary for Business Administration Master’s vs PhD

The average salary of a professional with a Master’s in Business Administration is $92,000, while the average salary of a business administration PhD holder is $101,000, according to PayScale. This difference in salary can be attributed to the types of careers graduates of these different degrees are qualified for. A PhD holder is likely to have better job prospects than a master’s degree holder.

Nevertheless, the salary difference is not huge. Many companies consider candidates with master’s degrees for top executive positions in business. Research-based academic institutions prefer to hire PhD holders to spearhead research projects.

Related Business Administration Degrees

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Why You Should Get a PhD in Business Administration

You should get a PhD in business administration because it gives you the opportunity to explore your passion for business at the highest level. With a PhD, you can delve into specific areas of research in business that benefit the field at large and even potentially your own organization.

You will gain the skills and expertise to approach business with a practical mindset rather than a theoretical one. A business management PhD gives you a competitive edge when applying for executive-level corporate leadership positions because it shows you are committed to the advancement of the field.

Reasons for Getting a PhD in Business Administration

• Better Job Opportunities. Most jobs in business and management require a degree in business or a related field. Therefore, most people entering the job market today have at least a bachelor’s degree . Master’s degrees are also becoming more common. A PhD sets you apart from other job candidates and improves your career prospects.
• Higher Salaries. According to PayScale, a business administration PhD holder on average earns $9,000 more than a master’s degree holder. Most jobs attainable with a PhD offer higher salaries than those attainable with a master’s degree. If you want to earn more, try pursuing a PhD with a specialization like business management.
• Achieve a rewarding career. You might be interested in an area like business ethics, corporate social responsibility, or nonprofit management. If so, pursuing a PhD in Business and specializing in an area you’re passionate about can lead to a more fulfilling career.
• Hone your skills. A PhD in Business Administration will teach you strategies for leading people in the business world. You’ll gain special skills by tackling research projects and will be empowered to make an impact as a business leader.

Getting a PhD in Business Administration: Business Administration PhD Coursework

Getting a PhD in business administration prepares students to solve complex business challenges. So, it’s no surprise that most of the courses required deal with strategy and research. Core business administration PhD coursework covers research methods in management, strategic management, organizational behavior, business leadership, and data analytics in practice.

Research Methods in Managementment

This core course is the backbone of a business administration PhD because it lays the foundation for effective research. It involves the review and evaluation of the performance of management research strategies. It trains students to interpret both qualitative and quantitative research methods and apply business research tools when advising organizations.

Strategic Management

Strategic management teaches the analysis and implementation of strategy. Students develop strategic and systemic problem-solving skills that will help them excel as strategic leaders at top businesses and organizations. This course prepares anyone who takes it for corporate success in both the public and private sectors.

Organizational Behavior

Organizational behavior is the study of people and groups in organizations, and the role of organizations in shaping the social and economic life of a society. Subtopics you’ll learn about in this course include power and influence, leadership, organizational identity, and negotiation. Essentially, this course helps students understand how to interact with people so they can make businesses operate effectively.

Business Leadership

Business leadership is the ability to manage a company so that it achieves its goals. Being a strong leader requires decisive action when necessary, as well as the ability to inspire others to perform at their highest capacity.

Business leadership as taught in a business administration PhD context prepares students to take charge of business operations, steer employees to work efficiently, and enable organizations to meet their business goals.

Data Analytics in Practice

This course involves the review and refinement of the quantitative methods necessary for effective leadership. Doctoral candidates explore data mining and forecasting and predictive models that enable evidence-based decision-making for senior-level professionals. This course enables business professionals to give recommendations for strengthening business intelligence.

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How to Get a PhD in Business Administration: Doctoral Program Requirements

Doctoral program requirements to get a PhD in Business Administration include advancement to candidacy, coursework completion, research requirements, examination excellence, and completion of a dissertation. In addition, unless it’s an online program, scholars might be required to fulfill normal residency. Let’s find out more.

Admission to a business administration PhD program does not guarantee a degree. You must prove to your department that you qualify to work on a dissertation. Most departments require you to pass a preliminary exam before attaining candidacy. This exam is typically conducted at the end of the first or second year of study. 

Doctoral students have to attain a minimum number of credits to graduate with a PhD in Business Administration. Those with master's degrees often have fewer classes than those with Bachelor’s degrees. Also, since PhD candidates often pursue careers in academia, they might be required to teach undergraduate classes.

PhD students start working on research projects with professors within their first two years of study. This educational stage develops research skills that are important during the next educational stage, which focuses on original research and writing. Before candidates start working on their dissertation, a committee of professors must vet their proposal.

Most research-based institutions require PhD students to work closely with university faculty and other students. This cohort model allows for the full benefit of the educational and professional opportunities available through the university. Scholars should attend classes regularly to gain experience with equipment and material, and to network with their colleagues. 

Dissertation defense is usually the final step in the process of getting a PhD. Doctoral students must submit a completed dissertation to a special committee for review. Only if the committee approves the dissertation does the candidate receive their PhD in Business Administration. 

Potential Careers With a Business Administration Degree

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PhD in Business Administration Salary and Job Outlook

PhD in Business Administration salary and job outlook is very good because holders of this PhD are eligible for important jobs with lucrative salaries. For instance, C-level executive jobs pay around $100,000 per year according to the Bureau of Labor Statistics. For those who want to pursue careers in academia, salaries of DBA holders are significantly above average.

The job outlook for business administration doctorate holders is above average, which suggests an increase in job opportunities over the course of the next decade. For instance, jobs for information system managers, one of the highest-paid roles for someone with a PhD in Business Administration, will increase by eleven percent. Jobs for top business executives will grow by eight percent over the next 10 years, according to the BLS.

What Can You Do With a PhD in Business Administration?

With one of the best PhDs in Business Administration, you can pursue a career in academia as a professor of business at a leading research university. Alternatively, you can pursue a career in the private sector. If you have a passion for finding solutions to real-world business challenges, you can become an analyst.

The skills acquired through the pursuit of a PhD are applicable in every industry and discipline. So, the job opportunities you can pursue are limitless. Considering your added specialized skills and experience, you will be equipped to successfully manage most businesses. If you choose to start a business, you’ll have the know-how to ensure it thrives. The job market is your oyster.

Best Jobs with a PhD in Business Administration

• C-Level executive
• Research analyst
• Business consultant
• Entrepreneur

What Is the Average Salary for a PhD in Business Administration?

The average PhD in Business Administration salary is $101,000 per year according to PayScale . On the upper end, information systems managers with PhDs earn around $160,000 per year, while on the lower end, university professors take home around $80,000 per year. The salary of a business administration PhD holder also depends on many other factors including industry, company, experience, and more.

Highest-Paying Business Administration Jobs for PhD Grads

Best business administration jobs with a doctorate.

The best business administration jobs with a doctorate include information systems manager, financial manager, human resources director, business economist, and top executive. All these jobs guarantee a lucrative professional career. These positions also offer an array of challenges and opportunities to learn, ensuring you’ll never be bored at your job.

An information system manager, also known as an IT manager, is the person responsible for the effective operation and security of all computer systems, hardware, and software used by a business. IT managers analyze an entity’s computer needs, recommend upgrades, install and maintain hardware, and ensure the security of a business’ data.

• Salary with a Business Administration PhD: $159,010
• Job Outlook: 11% job growth from 2020 to 2030
• Number of Jobs: 482,000
• Highest-Paying States: New York, California, and New Jersey

Financial managers ensure the financial health of a business or an organization. Primarily, they create financial reports, manage investments, and develop plans for a business to achieve its long-term financial goals. Other duties include monitoring financial details to ensure compliance with legal requirements, supervising staff, and analyzing market trends to find expansion opportunities. 

• Salary with a Business Administration PhD: $131,710
• Job Outlook: 17% job growth from 2020 to 2030
• Number of Jobs: 681,700
• Highest-Paying States: New York, Delaware, and New Jersey

A human resource director is a senior HR professional responsible for executive decisions pertaining to policies, strategies, and practices. Primarily, they direct administrative functions in a business or organization. Other duties include acting as the link between management and employees and overseeing recruitment. 

• Salary with a Business Administration PhD: $126,230
• Job Outlook: 9% job growth from 2020 to 2030
• Number of Jobs: 161,700
• Highest-Paying States: New York, New Jersey, and District of Columbia

Business economists provide analysis for businesses, organizations, and governments to make optimal financial decisions. They collect and analyze data and evaluate economic issues to stay informed. Their other responsibilities include presenting research data, recommending solutions to economic problems, and writing articles for journals and publications.

• Salary with a Business Administration PhD: $105,630
• Job Outlook: 13% job growth from 2020 to 2030
• Number of Jobs: 18,600
• Highest-Paying States: New York, District of Columbia, and California

Top executives are also known as C-level executives. They are responsible for making major decisions that impact the growth and success of a business or organization. They include the CEO (Chief Executive Office), CFO (Chief Financial Officer), COO (Chief Operating Office), and CIO (Chief Information Officer). Top executives execute departmental goals, procedures, and policies and oversee an organization’s activities and negotiate contracts. 

• Salary with a Business Administration PhD: $98,980 
• Job Outlook: 8% job growth from 2020 to 2030
• Number of Jobs: 2,704,400
• Highest-Paying States: District of Columbia, Hawaii, and Washington

Is a PhD in Business Administration Worth It?

Yes, a PhD in Business Administration is worth it. It can make a significant improvement in your salary potential. According to the Bureau of Labor Statistics, PhD professionals across all industries make on average $110,160 annually while master’s graduates earn $76,800 and bachelor’s graduates make $78,020. This means a PhD can add $32,000 to your salary annually.

Secondly, a PhD in Business Administration gives you the opportunity to pursue more than just a career. As a PhD program graduate, you will become instrumental in finding solutions to business problems. Because of this advanced skill, you will be able to pursue a fulfilling career and take advantage of any opportunities that come your way.

Additional Reading About Business Administration

[query_class_embed] https://careerkarma.com/blog/business-administration/ https://careerkarma.com/blog/best-schools-for-business-administration/ https://careerkarma.com/blog/best-online-business-administration-bachelors-degrees/

PhD in Business Administration FAQ

No, a Doctor of Business Administration is not the same as a PhD, but they are only slightly different. A Doctor of Business Administration is more focused on theory, and is aimed toward teaching skills most relevant in practice of business. A PhD is a more research-oriented program. There are slight differences between a doctorate degree vs a PhD .

A PhD is best for you if your goal is to pursue a career in higher education or as a research expert in business. On the other hand, a DBA is appropriate for those who want to focus on business and organizational challenges that require research to find solutions. Either way, both doctoral degrees improve your chances in the job market.

Yes, a master’s degree is not an admission requirement for most PhD programs in the United States. However, you cannot be admitted immediately after obtaining a bachelor’s degree. You’ll need a few years of professional experience and a compelling explanation of your reason for pursuing a PhD. Keep in mind that certain institutions do only admit students with master’s degrees.

Yes, you can do a PhD while working. Most PhD programs are designed for working professionals. Depending on the program there are different options, such as part-time or full-time and online, hybrid, or on-campus. If you wish to maintain your current job while advancing your education, you can definitely find a plan that fits your schedule or consider an online degree.

About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication .

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Phd in business administration: requirements, salary, jobs, & career growth, what is phd in business administration.

A PhD in Business Administration (also known as a Doctor of Philosophy in Business Administration or DBA) is a terminal degree in the field of business that prepares individuals for academic, research-oriented careers in academia, government, or private industry.

It typically requires completion of coursework in a variety of business and research-related areas, as well as the completion of a substantial research project, often in the form of a dissertation.

The goal of the program is to provide students with a deep understanding of business and management theory and the ability to conduct original research that contributes to the body of knowledge in the field.

The PhD in Business Administration usually takes four to seven years to complete and prepares graduates for careers in university teaching, research, and consulting, as well as in senior management positions in private industry.

It is a challenging and rigorous program that requires a strong commitment to academic and research excellence, but it is also a valuable investment for individuals who want to make a lasting impact in the field of business.

How much money do people make with a PhD in Business Administration?

The salary that an individual can earn with a PhD in Business Administration can vary widely based on several factors, such as their specific job role, industry, location, and years of experience.

In academia, individuals with a PhD in Business Administration can expect to earn an average salary in the range of $80,000 to $120,000 or more, depending on their rank, institution, and location. Professors with a PhD in Business Administration who are tenured or on a tenure track typically earn higher salaries than those who are non-tenured or part-time.

In the private sector, individuals with a PhD in Business Administration can expect to earn a higher salary compared to those with only a Master’s degree. They may work in senior management positions in large corporations, consulting firms, or research institutions and earn salaries ranging from $120,000 to $250,000 or more, depending on the company and their level of experience.

What is expected job growth with PhD in Business Administration?

The job growth for individuals with a PhD in Business Administration can vary depending on the specific job market and industry. However, overall, the demand for individuals with advanced degrees in business, including a PhD in Business Administration, is expected to be positive in the coming years.

In academia, the demand for business professors with PhDs is expected to be steady, as universities continue to place a high value on research and teaching expertise in the field. As a result, many universities are actively seeking out qualified individuals to fill tenure-track positions in their business schools.

In the private sector, the demand for individuals with a PhD in Business Administration is expected to grow as companies continue to seek out individuals with advanced business knowledge and research skills.

Companies in a wide range of industries, including finance, healthcare, and technology, are increasingly seeking out individuals with PhDs to fill senior management and research positions.

What can you do with a PhD in Business Administration?

A PhD in Business Administration is a highly versatile degree that opens up a wide range of career opportunities in both academia and the private sector. Some of the most common careers for individuals with a PhD in Business Administration include:

1. University professor: Many individuals with a PhD in Business Administration choose to pursue careers as university professors, teaching undergraduate and graduate students in business schools.

2. Research consultant: Other individuals may work as research consultants, conducting research projects for private companies or government organizations.

3. Senior manager: Some individuals with a PhD in Business Administration may choose to work in senior management positions in private industry, using their advanced business knowledge and research skills to make strategic decisions for their organizations.

4. Consultant: Others may choose to work as consultants, using their expertise to advise businesses on a wide range of topics, such as marketing, operations, and strategy.

5. Policy maker: Some individuals with a PhD in Business Administration may work in government or non-profit organizations, using their advanced knowledge to develop and implement policies and programs related to business and the economy.

6. Entrepreneur: Some individuals with a PhD in Business Administration may choose to start their own businesses, using their advanced business knowledge and research skills to develop and grow new ventures.

What are the requirements for a PhD in Business Administration?

The requirements for a PhD in Business Administration can vary depending on the specific program and institution, but generally include the following:

1. Bachelor’s degree: Most PhD in Business Administration programs require applicants to have completed a bachelor’s degree from an accredited institution, with a strong academic record and a background in business or a related field.

2. Master’s degree: Some programs may also require applicants to have completed a master’s degree in business or a related field, although this is not always the case.

3. Standardized tests: Many PhD in Business Administration programs require applicants to take standardized tests, such as the Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE).

4. Letters of recommendation: Most PhD in Business Administration programs require applicants to submit letters of recommendation from individuals who can speak to their academic and professional abilities.

5. Statement of purpose: Most programs also require applicants to submit a statement of purpose, outlining their reasons for pursuing a PhD in Business Administration and their career goals.

6. Research experience: Some programs may require applicants to have prior research experience, either through academic coursework or independent research projects.

7. Coursework: Once enrolled in a PhD in Business Administration program, students will typically be required to complete a set of core coursework in business and management, as well as advanced courses in their area of specialization.

8. Dissertation: The final requirement for a PhD in Business Administration is typically the completion of a substantial research project, often in the form of a dissertation. This project should demonstrate the student’s ability to conduct original research and make a contribution to the field of business.

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How long does it take to get a phd in business administration.

The length of time it takes to complete a PhD in Business Administration can vary depending on a number of factors, including the specific program, the student’s pace of study, and any other commitments they may have.

On average, a full-time PhD in Business Administration program takes between 4 to 7 years to complete.

The first 2 to 3 years of a PhD in Business Administration program are typically devoted to coursework and the completion of any required exams. During this time, students will take a variety of advanced courses in business and management, as well as courses in their area of specialization.

They may also be required to complete a qualifying exam to demonstrate their mastery of the material and their readiness to move on to the research phase of the program.

The final 2 to 4 years of a PhD in Business Administration program are typically devoted to the completion of a substantial research project, often in the form of a dissertation. During this time, students will work closely with a faculty advisor to design and conduct original research, and to write and defend their dissertation.

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Do you need a masters in business administration to get a phd in business administration.

It is not a universal requirement to have a Master’s degree in Business Administration (MBA) in order to pursue a PhD in Business Administration, but it is common for many PhD programs to prefer or require applicants to have a Master’s degree, or at least a strong background in business or a related field.

Having a Master’s degree in Business Administration or a related field can provide students with a solid foundation in the principles of business and management, as well as a better understanding of the research process.

This can be particularly valuable for students who wish to pursue careers in academia or as business consultants, as a PhD in Business Administration is a research-focused degree.

However, some PhD in Business Administration programs may also accept applicants with a bachelor’s degree and a strong academic record, provided they have sufficient background knowledge and research experience in business or a related field.

In these cases, students may be required to complete additional coursework in order to make up for any gaps in their knowledge.

What are the Best PhD in Business Administration Degree programs?

Harvard business school, harvard university, stanford graduate school of business , stanford university, wharton school, university of pennsylvania, columbia business school, columbia university, university of chicago booth school of business, mit sloan school of management , massachusetts institute of technology, kellogg school of management , northwestern university, fuqua school of business , duke university, tuck school of business , dartmouth college, uc berkeley haas school of business , university of california, berkeley, leave a comment cancel reply.

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Salary Outlook for PhD in Business Degree Grads

Created by Henry Steele

By Henry Steele - May 16, 2018

Earning a Ph.D. in Business Administration will provide you with the knowledge and skills for an academic career in business administration, as well as scholarly business administration research at the collegiate level. You also will develop advanced business management knowledge that can be applied to the private sector. A Ph.D. in business administration focuses primarily on developing new theories of business management, public administration, consulting, economics and related fields.

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If you are going to earn a doctorate in business administration, it will take a lot of time and effort. It is a full time commitment that will take at least four to five years. So it makes sense to research what your potential salary could be with this degree. This article details the following factors that may affect your salary with a Ph.D. in business administration:

• Whether you work in the public or private sector
• How many years of work experience
• Geographic location

Whether You Work in the Public or Private Sector

Generally, obtaining a master’s or doctoral degree will result in a higher salary. The Bureau of Labor Statistics reports earning a master’s degree can give you an average $12,000 pay raise over a bachelor’s degree. In some cases, earning a Ph.D. will result in a premium over a master’s degree.

For example, some surveys indicate earning a master’s degree in business will net you an average lifetime pay of $3.2 million, while earning a doctorate will increase that to $3.5 million. Earning a master’s in education will net you $2.2 million in earnings over your career, and a Ph.D. in the same field will net you $2.8 million.

So we can say generally that getting a doctorate will result in a higher salary. But a major factor in how much of a salary increase you will see is whether you are working in the public or private sector.

Many professionals with a Ph.D. in business administration work in the public or educational sector, but some do work in the private sector. Below is salary information from BLS that shows the wage premium earned for a variety of business related positions in the private sector with a graduate degree over a bachelor’s degree:

• Financial manager: $78,000/$110,000
• Market research analyst: $65,000/$90,000
• Distribution manager: $62,000/$90,000
• Marketing and sales manager: $80,000/$110,000

For education administrators, we see that you can earn $23,000 more with a master’s degree over a bachelor’s degree. BLS does not provide data about Ph.D. vs master’s salaries, but we can assume there is an increase in salary by earning the higher degree.

Also, later in this article we highlight salaries by job title, and this indicates that a professional with a Ph.D. in business administration will generally earn a higher salary by working in the private sector.

Ph.D. in Business Administration Work Experience

As in all career fields, the number of years of work experience you have will influence your salary. For example, if you become a professor with your Ph.D., Payscale.com reports the median salary across the US is $87,500. But this will vary depending upon your level of experience:

• Professors with less than five years of experience earn $60,000 per year
• Professors with five to 10 years of work experience earn $71,000 per year
• Professors with 10 to 20 years of work experience earn $86,000 per year
• Professors with more than 20 years of experience earn $99,000 per year.

On the other hand, some professionals with a Ph.D. in business administration go the private business route and become CEOs. Payscale.com reports the median salary for CEOs is $164,800. This also will vary with experience:

• Less than five years experience: $120,000
• Five to 10 years of experience: $154,000
• 10 to 20 years of experience: $193,000
• More than 20 years of experience: $229,000

Ph.D. in Business Administration Geographic Location

If you are a professor in a business college with your Ph.D., you will earn a higher salary in some parts of the country than others. The national average wage for this position is $87,300, but your salary can be higher or lower depending upon if you live in these cities:

• San Francisco: +49%
• Boston: +32%
• Los Angeles: +21%
• Indianapolis: +19%
• Philadelphia: +16%
• Seattle: +15%
• Chicago: 0%
• Baltimore: -6%
• Dallas: -8%
• Houston: -11%

For general salary for Ph.D. in business administration for all job titles, these are typical salaries for some cities across the US, according to Payscale.com:

• Wilmington DE: $156,300
• Los Angeles CA: $150,500
• Louisville KY: $94,750
• Chicago IL: $120,700
• New York City: $120,000

Ph.D. in Business Administration Job Title

The last major influence on what your salary could be with a Ph.D. in business administration is job title. Depending upon whether you get a job in academia or in a private company, your salary can vary widely.

Below is a sampling of the job titles and salaries that people with this degree have; this data was pulled from Payscale.com:

• Professor, Postsecondary and Higher Education: $116,435
• Chief Information Officer: $92,717
• Regional Vice President of Operations: $159,700
• Six Sigma Black Belt Project Manager: $83,600
• Director of Analytics: $113,576
• Healthcare Administrator: $131,800
• Adjunct Professor: $59,500
• Assistant Professor: $84,100
• Associate Professor: $97,000
• Senior Risk Manager: $139,000
• Director of Operations: $81,212
• IT Manager: $153,000
• Management Consultant: $75,800

On a related note, your salary with this degree also will be influenced by any specialty you choose. Many popular Ph.D. in business programs offer specialties that may pay more than others, such as accounting, finance, information systems, general management, operations management and entrepreneurship.

The information above provides some insights about what your salary could be with a Ph.D. in business administration. There are many career directions you can go in that will definitely affect your salary. Once you have determined exactly what you want to do with the degree, you can get a better idea of the salary potential.

• Should I Get a Master’s Degree? (2015). Retrieved from https://www.bls.gov/careeroutlook/2015/article/should-i-get-a-masters-degree.htm
• Ph.D. in Business Areas of Specialization. (n.d.). Retrieved from https://foster.uw.edu/academics/degree-programs/phd-program/major-areas-of-specialization/

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