Taking your business career to the next level often means investing in your education and ongoing professional development. By enrolling in a graduate degree program, you can build practical business skills while learning the art of business strategy development.
Many business professionals who aspire to management or executive positions consider pursuing a Master of Business Administration (MBA) degree or a Doctor of Business Administration (DBA) degree. Learn more about the value of these degree programs and how they can impact your professional trajectory.
What Can You Do with an MBA or DBA Degree?
The primary reason that most professionals look into MBA and DBA programs is to advance their careers. As you decide between an MBA vs. DBA, consider the potential roles that may be available after graduating from your program.
Roles in Business, Leadership, and Strategy
The MBA program is designed for experienced business professionals who want to advance their business acumen and grow into management roles. MBA graduates might pursue opportunities in business, leadership, and strategy — allowing them to take on higher-level positions in their field and continue advancing their business skills.
Advancing to Executive, Consulting , and Entrepreneurial Positions
One of the primary benefits of a DBA degree is that this terminal business degree prepares graduates for executive positions. If you are interested in taking control of your career path and achieving a spot in the C-suite, then this may be the graduate degree program for you. In addition, many DBA graduates leverage their experience and educational credentials in order to pursue consulting and entrepreneurial opportunities that give them more professional freedom. Further, the DBA also provides an opportunity to teach and conduct research in both corporate and academic settings.
Skills and Qualities Gained Through an MBA or DBA
Both the MBA and DBA programs are known for their rigor, requiring students to complete a challenging curriculum that advances their understanding of the modern business landscape. According to Indeed, these are a few of the key skills gained in a graduate business degree program:
Strategic Thinking and Financial Acumen
While the core coursework for an MBA or DBA degree program focuses on advanced business topics, soft skills are also woven into the curriculum that improve each student’s ability to think critically and strategically. These business degree programs emphasize the importance of financial literacy, too, particularly within a business organization. This equips grads with an advanced understanding of how to create a business strategy that will position an organization for success.
Leadership, Communication, and Organizational Management
Most undergraduate degree programs help students establish the practical and technical business skills needed to launch their careers. Graduate business degree programs, on the other hand, stress the core competencies to manage teams and lead organizations successfully. In both an MBA and DBA program, you improve your business communication, leadership, collaboration, and emotional intelligence skills.
Global Perspective and Innovation in Business Practices
The broad scope of the MBA program and the executive focus of the DBA program enable students to develop a well-rounded global perspective in which they consider the needs and nuances of business organizations from around the world. With an emphasis on innovation and creative thinking, these business programs prepare professionals to become the next generation of thought leaders.
Career Opportunities with an MBA or DBA
Most students who enroll in an MBA or DBA program are hoping to advance their careers and pursue new opportunities in business. The types of positions you may be able to pursue will vary based on the graduate degree program you choose and the area in which you specialize.
Common Roles
Employers and recruiters consider the MBA to be a valuable credential; many MBA holders have the opportunity to pursue mid-level management positions, such as:
- Operations director
- Business consultant
- Project manager
- General management
- Marketing director
- Sales director
As a terminal degree program, the DBA degree is intended to prepare graduates for executive positions or academic roles, like:
- Chief Executive Officer (CEO)
- Chief Financial Officer (CFO)
- Senior executive roles at the VP level
- Department Chairs
- Academic dean
Work Settings
MBA and DBA graduates may find work in a variety of settings, depending on their area of expertise and career goals. Common work settings for business school graduates include:
- Corporations
- Startups
- Government agencies
- Higher education
- Nonprofit organizations
- Consulting firms
- Healthcare Organizations
- Tech firms
Educational Pathways and Credentials
The educational pathways and credentials required for career growth in business will depend on your professional experience, personal career goals, and areas of expertise. MBAs and DBAs are two of the most common educational pathways for business leadership positions.
MBA: Master of Business Administration for Mid-Level Career Growth
The Master of Business Administration degree — referred to as an MBA program — is an ideal option for professionals seeking mid-level career growth. The value of MBA degree programs allows students to build the competencies to manage and lead in our global economy.
DBA: Doctor of Business Administration for Senior Leadership and Academic Roles
The Doctor of Business Administration, or DBA, is a terminal business degree program designed with senior-level business professionals in mind. This program is ideal for those who want to work at the executive level or are interested in pursuing academic goals. The value of DBA degrees can be measured in increased earning potential, rewarding career opportunities, and the ability for an individual to customize their own career path.
Specializations
In both MBA and DBA programs, students can specialize in the areas of business that interest them most. These are examples of common MBA and DBA specializations:
- Finance
- Marketing
- Leadership
- International business
- Healthcare management
The Long-Term Value of an MBA or DBA Degree
When you enroll in an MBA or DBA program, you may be focused on acquiring the necessary skills and knowledge to take the next step in your career. However, investing in your education will continue to benefit you for many years, even after you achieve that coveted leadership position in your organization.
The long-term benefits of an MBA degree and the residual value of a DBA degree include:
Increased Earning Potential Over Time
According to Investopedia, the average salary of MBA and DBA degree holders varies based on a number of factors — such as their business experience, educational credentials, the organization where they work, and where they live. Most students who earn an MBA or DBA degree do find that they can continually increase their earning potential throughout their careers. Additionally, a survey by the National Association of Colleges and Employers (NACE) indicated that master’s-level business graduates were projected to have overall salary increases in 2025.
Expanded Career Mobility and Job Security
Both the MBA and DBA degrees help professionals hone the advanced business acumen necessary to elevate their job security and career mobility overall. Investing in yourself and your education, you are better equipped to take control of your own career path.
Return on Investment (ROI) in Business Education
It is widely believed that professionals who invest in ongoing business education will continue to see a return on their investment throughout their careers. Enrolling in a graduate degree program means making an investment that can yield both professional and personal returns.
Additional Benefits of Earning an Advanced Business Degree
Although many of the leading advantages of a business degree are obvious, some lesser-known benefits should not be overlooked as you compare the value of an MBA with the benefits of a DBA degree:
Expanded Professional Network and Industry Connections
Both MBA and DBA students are easily able to expand their professional networks. These degree programs bring together individuals at various stages of their careers and from a range of industries, allowing classmates to connect with and learn from one another.
Increased Credibility in Leadership and Strategic Roles
Through advanced coursework, case studies, and collaborative projects, MBA and DBA students may take on leadership positions within their degree program that boost their credibility outside the classroom. The engaging and immersive experiences included within the curriculum uniquely prepare graduates for high-level, strategic roles in their chosen business fields.
Opportunities for Mentorship, Teaching, and Thought Leadership
While completing the coursework and degree requirements for graduate business degrees, students will uncover opportunities for mentorship and teaching that help develop their core competencies to become intuitive, emotionally aware thought leaders.
MBA vs. DBA: Make the Best Investment in Your Career at Keiser University Graduate School
The value of a business degree extends beyond the possibility of increasing your earning potential. Whether you choose to enroll in an MBA program or a DBA program, a graduate degree in business advances your business acumen and leadership skills, as well as allows you to specialize in niche areas. Ultimately, this investment provides the chance for growth on a professional and personal basis.
At Keiser University Graduate School, we offer several business degree programs, from a Master of Business Administration to a Global Master of Business Administration to a Doctor of Business Administration degree. In addition, our specialty MBA programs include:
- Master of Business Administration, Technology Management
- Master of Business Administration, Marketing
- Management Master of Business Administration
Regardless of the program you select, you will quickly discover the many benefits associated with earning a business degree. Contact a graduate admissions counselor to learn more about the right fit for you.
Sources
https://www.keiseruniversity.edu/technology-management-mba/
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https://www.keiseruniversity.edu/mba-marketing/
https://www.keiseruniversity.edu/mba-management/
https://www.keiseruniversity.edu/global-mba/
https://www.keiseruniversity.edu/graduate-school/contact/graduate-admissions-counselor/
https://www.indeed.com/career-advice/resumes-cover-letters/mba-skills
https://www.indeed.com/career-advice/finding-a-job/mba-degree-jobs
https://www.investopedia.com/articles/personal-finance/031215/what-average-salary-mba-graduate.asp
https://www.investopedia.com/articles/personal-finance/011415/when-mba-worth-it.asp
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