DBA: Demand and career opportunities

Introduction to DBA

The Doctor of Business Administration (DBA) is the level 10 qualification which is the highest level honors equivalent to the Ph.D. and is conferred on business academics. DBA qualification is helpful for the business leaders in meeting the demands of the business by creating and contributing new knowledge to the Global Business World.

Importance of global education

Though there is a mushroom growth of professional degrees and masters' degree holders, DBA degree holders are still very few. The growth of DBA education across the globe is somewhat of a new trend. The DBA occurrence is not constrained to a particular geographic place but is spread across the globe with the highest progression in Europe followed by North America and then Asia. Businesses across the globe look for trained leaders capable of taking on challenges and strategic decisions in a dynamic global world and DBA degree holders are the right fit for these organizations. The rising demand for DBA is universal and not a single country has observed a declined interest in DBA courses. While pursuing a DBA, one can take any topic related to business and it can also be multidisciplinary. DBA graduates enjoy the following benefits:

Increased salary

A higher level of degree is the average salary. DBA is the highest-level degree and offers the highest pay package compared to level 8 or 9 courses. It is observed that the difference in salary of level 8 programand level 9 programme is $25000 pa and this difference increases to more than $ 40000 in case of salary of level 9 programme vs. Level 10 (DBA) because DBAs are recruited for senior management positions like Chief Executives, Directors, Vice-Presidents, etc.

This difference further increases if the candidate has completed his DBA from a global institute having peers, faculty members, supervisors, and other resources from across the globe resulting in true global exposure and cross-cultural knowledge.

Multiple career paths

The doctoral-level degree is typically pursued by scholars looking for a career in academics.

A Ph.D. in business or non-business field is designed for teaching in university and advancing academic research whereas a DBA degree is designed to chase both academic and senior position business careers.

High demand

Owning a DBA degree provides a better career opportunity because it is in high demand. The employing expert probably oversees an individual with a level 9 (master' degree) in favor of anapplicantowning a level 10 doctorate. Motives for the high demand comprise an apparent increase in leadership skills, dynamic decision-making skills, and a better understanding of business concepts. Other reasons for high demand are:

a. A DBA means earning the most respected title 'Doctor'.

b. A DBA degree can quickly accelerate professional growth.

c. A DBA graduate gives a new understanding of the Professional world with direct, practical solutions.

d. DBA holders are more innovative, productive, and accurate as they can make better decisions for business that are backed by quantitative & qualitative research, and applied skills, and not merely by observation.

e. Pursuing a DBA allows professionals to balance their professional, personal, and study commitments very effectively, allowing the degree to be learned while still working.

Jobs after DBA

DBA curricula offer hands-on learning in several areas of specialization and career interests using the latest software and tools. The professional pathways one can chase with a DBA are abundant and some of the prominent ones are:

Management consultant

The demand for Management Consultants is increasing every year and especially the recent pandemic has shown that the role of a management consultant is very critical during a crisis time in saving the organization. It is expected that the need for Management Consultants will be huge in the coming years.

C-level executive

Senior-level chief executives administer the functioning of an institute. They frame the business models, standard procedures, and best strategies to ensure goal accomplishment. DBA can take this task more confidently due to the required skills taught in this course.

Researcher

For every company, the importance of research is increasing for taking strategic decisions for the future about all the important domains of business. Analyzing the market correctly with the gathered/available data can be done by highly skilled professionals only and again the candidate with a DBA degree is more fit over here.

Academician

In higher education, a doctorate is a must for conducting the classes. If a Professor has a DBA with Industry experience, then this is the best fit for any higher education institution. DBA's can always impart knowledge that is industry-relevant and can reduce the gap between industry expectations and academic delivery.

Economist

It is also observed that a candidate with a DBA degree, in general, is better than a candidate with a Master's degree in Economics in conducting research related to the economy and finding the right trend based on the skills developed while pursuing the DBA.

"A DBA degree is a gateway not only to multiple career options with enhanced pay packages but is also a gateway for entering into the most strategic, dynamic, challenging senior-level leadership role".

(The author Dr. Priti Bakhshi is Associate Professor (DBA), S P Jain School of Global Management)