Why a Doctorate in Business Administration Will Help Columbus Business Professionals Get Ahead
From industry-leading companies to thriving startups, Columbus is ripe with opportunities for business professionals. The Columbus job market is also increasingly competitive—the result of a combination of low unemployment, slower job growth and wages holding steady rather than increasing. So now more than ever, advancing means setting yourself apart.
But how do you do it? A Doctor of Business Administration degree (DBA) might be your ticket to gaining skills that open the doors to business leadership positions and salary increases in Columbus.
The Columbus Market for Senior Business Leaders
According to labor market analytics firm EMSI, jobs for top executives in Columbus are expected to grow by 10.9% over the next 10 years. As demand for these positions grows, competition will also heat up for professionals looking to climb the ladder.
So how do you stand out? An MBA—which used to be seen as the gold standard for business leaders—is now becoming a minimum requirement. In 2018, 884 people completed master’s-level degrees in business administration and management at Central Ohio institutions. These graduates accounted for 43% of all business administration and management degrees completed at Columbus institutions.
In 2019, these new MBA graduates competed for 1,100 new jobs posted seeking senior business leaders—including chief executives, executives, presidents and vice presidents—at companies across Franklin County. With such a large number of master’s degree candidates entering the job market, coupled with a tight job market, you have to find new ways to differentiate your skills.
5 Ways a Doctorate in Business Administration Can Benefit Your Career
- Establish yourself as more appealing than leaders with a lot of experience. When applying for top business leadership positions, many candidates will hold advanced degrees. However, a doctorate degree immediately distinguishes you from other master’s degree candidates because only 2% of professionals hold a doctoral degree. This elite credential shows your dedication to continued learning, perseverance to achieve your goals and deep industry expertise.
- Contribute to research and position yourself as a thought leader in the field. One of the key aspects of an online DBA program is the completion of a dissertation. A dissertation aims to fill a gap in current business theory and practice. Upon completion, you will publish your original findings, which puts you in an elite group of professionals contributing new knowledge to the field. Published research gives you more credibility, which can create opportunities for you as a consultant, keynote speaker, or leader of professional organizations.
- Gain a new level of critical thinking, research and analytical skills. Data is the driving force of business decisions today. Being able to collect and analyze data, and use it to solve significant business challenges, is a cornerstone of a DBA education. By practicing these skills over the course of your degree program, you will be prepared to contribute at the highest levels of your organization.
- Increase your earning potential. While it’s true a master’s degree significantly increases your salary expectations, a doctorate degree can elevate them even further. According to World Education Services, a doctoral degree in business can increase your earnings by another 9%.
- Open the doors to new career opportunities. A doctorate gives you exceptional flexibility to pursue any avenue in business. Whether you aim to be a CEO, an independent consultant, or a professor at a university, a doctorate degree can help fast track your career.
Columbus Organizations Looking for Business Leaders with Doctorate Degrees
The diverse Columbus economy provides excellent opportunities for DBA graduates across a variety of thriving industries. From education and government to healthcare, finance and more—there’s an increasing demand for business professionals with doctorate degrees.
“In Columbus, the demand for DBAs is there,” says Dr. Reyman, “Organizations are seeing DBAs as the next level of achievement for strategic leaders. For those who already have a master’s degree and are looking to make a higher-level contribution to the leading organizations in Columbus, a DBA is a logical next step.”
These companies represent industry heavyweights, both in Central Ohio and around the world. At these organizations you can make a significant impact on your industry, and boost your professional reputation by adding them to your résumé.
A Bright Future for Strategic Business Leaders
Over the next ten years, jobs in management, business operations and financial operations are expected to grow by 9.3% in Columbus. With the top ten percent of professionals earning $150,845 on average, the opportunities in Columbus are here for the taking—if you have the right education, skills and experience.
Getting a Doctor of Business Administration can help you advance your career, and earning one might be more attainable than you think. Flexible, online DBA programs make it easier than ever to get your doctorate degree while maintaining your career trajectory. Explore Franklin University’s Doctor of Business Administration program, the top online DBA program in Columbus.
This article is one installment of the Jobs & Education Outlook series, presented with paid support by Franklin University.
Franklin University is an accredited and nonprofit college in Columbus that has been dedicated to educating adults since 1902. The University offers a variety of online doctoral degree programs focused on business, healthcare and more. For more information, visit franklin.edu.