Doctor of Business Administration is typically a 3-4 years post-graduate doctoral program specifically designed for working professionals who want to advance their careers and knowledge in various fields. It is an advanced program that requires candidates to have a Bachelor’s or Master’s degree in business administration or any other related field. Furthermore, not everyone can apply for this program since it requires some eligibility criteria to be met, such as relevant work experience.
The demand for a DBA degree, especially in this dynamic environment, has been increasing. Researchers estimate that the number of jobs in this field will grow by 28% between 2016-2026. This percentage is quite higher than the national average for other occupations reflecting the expanding popularity of the same.
Is DBA Worth The Money?
Earning a DBA degree requires investment both in terms of money and time. It might lead to the question of whether a DBA program is worth all the effort. To address the same, the following list contains some of the main reasons why you should opt for a DBA degree, especially in today’s dynamic business environment.
Expansive Career Opportunities
A DBA program trains candidates with invaluable leadership and business management skills, thus empowering them to emerge as leaders in their respective domains. One of the major advantages of earning a DBA degree is that it opens doors to job opportunities within academia and academic research. Some of the various job roles that DBA graduates are qualified to pursue are business consultant, entrepreneur, government contractor, and business strategist, among others.
Higher Salaries and Promotions
Another major benefit that DBA graduates get to enjoy is their increased chances of high-paying jobs. Candidates with a doctorate are always favored more than those with an MBA or Bachelor’s degree. This is because it highlights their sharpened business acumen and effective managerial skills, both of which are paramount in the strategic decision-making process of businesses.
Bolstered Credibility
Last but not least, earning a DBA degree gives candidates a newly-defined perspective on the business world, thus earning them more credibility among peers and potential employers. A DBA program is designed to help aspirants gain expertise in a specific domain. Not only do they get to hone their skills, but the specialized research they have to conduct while pursuing the degree provides them with an in-depth knowledge base.
Cost of DBA Program
The cost of a DBA degree is usually much higher than a Ph.D. It can be because of the additional costs incurred for delivering taught units, which feature contributions from prestigious enterprise experts.
DBA programs generally offer added benefits to their enrolled candidates, which justifies the high-cost DBA programs as opposed to PhD degrees. Leading institutes, such as Golden Gate University, specifically create flexible DBA programs for 9-5 working candidates. Along with an aligned curriculum, GGU provides extended benefits such as 24/7 student support, career guidance, interactive sessions with industry leaders, and scholarship opportunities, offering an edge over other candidates enrolled in similar research-based programs.
Finding Scholarships for DBA Programs
Nowadays, many institutions have started providing scholarships to increase the number of aspirants pursuing careers and degrees in this field. There are many online sites available such as CareerOneStop, FinAid, and ScholarshipAmerica, among others, where you can find a robust scholarship search database.
Once you have selected the institution you will be attending, you can visit their official website and look for program-specific funding scholarships. Some academic departments might contain details about external scholarship opportunities that candidates can pursue to meet their financial needs.
Applying For Scholarships
The application process for scholarships usually varies from institute to institute. This also includes the eligibility criteria, usually based on factors such as merit, community involvement, and financial need. Some other factors may include professional experience or membership with any specific organization.
It is paramount for every individual to go through all the requirements of the scholarship to avoid any kind of surprises in the future. Taking the necessary classes to develop your candidature is always recommended if it is a merit-based scholarship.
If the scholarship depends on community involvement, students should take all the necessary steps to build relationships with local organizations. This should be done at an early stage since it requires quite a lot of time to build a strong resume that highlights all your efforts.
Lastly, a statement of purpose, or as it is very commonly known, a letter of intent, should also be prepared beforehand. This is because many scholarships require candidates to disclose their professional interests and goals. Therefore, your letter of intent should highlight all your interests, contributions, and, most importantly, the driving force behind pursuing that particular program. Additionally, recommendations from teachers and employers can also serve as an extra advantage to boost your chances of qualifying for the scholarship.
DBA Scholarships For International Students
Golden Gate University
With 120+ years of educational experience, Golden Gate University has successfully made its name as one of the best private universities in California. Its 36 months duration Doctor of Business Administration program is specifically designed for working professionals who wish to advance their knowledge and skills in the business domain. The program offers five concentrations: finance, marketing, business, and data analytics, logistics and supply chain management, and leadership and strategy.
At GGU, 70% of the scholarship for the entire program is provided to the first 5000 students based on merit. Post scholarship, the total amount of the program fee stands at approximately $15,000. Multiple EMI options are also available for eligible candidates.
Florida International University
Reports suggest that Florida International University has been ranked as the number #1 among all other public universities in Florida, making it the perfect choice for international students who wants to pursue their DBA degree in the USA. Its three-year full-time DBA program primarily focuses on data analytics and decision science and provides its students with coursework and research opportunities.
Students selected for the DBA program are eligible for a full-tuition scholarship. It will cover all the tuition fees throughout the nine semesters of the program, which is usually the typical duration of completing a DBA program.
Other Universities Offering DBA Scholarships
Apart from the universities mentioned above, quite a few other institutes extend various scholarship opportunities for their students. Some of them include
- The University of Southern California
- Duke University
- Rice University
- The University of Pennsylvania
- Stanford University
- Binghamton University
Conclusion
With this, we come to the end of this blog to find the right scholarship for DBA programs. Hopefully, this has cleared all your doubts and queries regarding the same. In today’s digitization age, many options are available at your disposal, which might confuse candidates while selecting the right course that comes with the best benefits and quality education. The only way to deal with such a situation is to keep a clear mind, understand your needs, conduct thorough research, and then select the program that suits you the best. DBA is, after all, quite a hefty investment and should be dealt with accordingly.
FAQs
Q1: What is usually the average age of DBA students?
Students or aspirants who pursue a DBA degree usually fall within the age of 30-40 years and have relevant professional experience. Most universities require candidates to have 4-5 years of work experience and a Master’s degree in business administration or any other relevant field.
Q2: Is DBA as good as Ph.D.?
With the increasing demand for DBA, it is now considered to be almost equivalent to a Ph.D.. However, there are quite a few fundamental differences between these two that one needs to keep in mind. While a Ph.D. takes on a more academically oriented approach, a DBA program focuses on applied knowledge alongside theoretical and research work.
Q3: Is DBA hard to study?
Yes, earning a DBA degree requires a lot of time, patience, and effort on behalf of a candidate. It can also be quite expensive for those aspirants who do not have a stable source of income. Nonetheless, a DBA degree is worth all these since it is highly valued, especially in today’s world, and opens the door to many job opportunities. Furthermore, a DBA degree is also the highest academic achievement in business management.
