No matter which degree path you take, continuing your education at a higher institution is always an honorable goal. For most people, it’s easy to decide to move ahead to the level of a bachelor’s degree, and then from there, it’s a simple stretch to a master’s. But once you have your MBA, should you stop or continue on to your doctoral degree? There’s where most of us have our debate.
Obtaining your MBA is hard enough, but a PhD requires intensive concentration on a focus area that, for at least two years and sometimes longer, encompasses your entire life. PhD graduates receive an education in which the knowledge they gain is used to make an impact in innovative ways on the world. There are some advantages to both the MBA and the PhD that make them both good choices, depending on what you want in your career.
What Does an MBA Do
The MBA is one of the most popular graduate program degrees. Each program offers a different skill set, but all of them are business-related. There are educational paths offered in areas like statistics, finance, accounting, economics, leadership, ethics, management, and entrepreneurship, among many others.
By obtaining your MBA, you’ll be valuable to industries around the world because you’ll learn your hard skills, but you’ll also have experience with soft skills to make you a better “people person.” Through courses designed to develop leadership, analytics, and critical thinking, you’ll be able to handle teamwork, individual work, and communication in your field of study.
What Does a PhD Get You?
The concept of a Doctor of Philosophy might not sound like what you want to do with a field completely unrelated to that, but it’s actually a professional degree that designates you as a specialist in the field of your choice. Moving away from today’s idea of philosophy, the word originated from the Greek word philosophia, which means “a love of wisdom.” When you are passionate about a chosen subject and love to find the wisdom in it, you can aim for a PhD.
With a PhD, you can teach at any level or obtain work in a specialized position.
The PhD is a postgraduate academic degree that you obtain when you take the required courses and submit a thesis or dissertation on an original topic that shows you’re qualified to be considered an expert on the field. It’s the highest degree you can achieve, in general.
Debating the Pros and Cons of Each
A PhD isn’t for everyone, but if you decide it’s what you want to do, it’s a very impressive goal! Many older learners are returning to school for their PhD today because it’s now the sought-after degree in businesses around the world. They want to advance their career paths, and an MBA isn’t cutting it.
With so many online courses available now, it’s easier than ever to return to school for your PhD. But why would you want to? There are advantages and disadvantage to both, such as:
● You can obtain many jobs in your chosen career field with an MBA, so it allows you to get started earlier and begin making money sooner, with less student debt.
● An MBA makes you more valuable in industries because it’s a specialized business degree.
● An MBA gives you more opportunities to progress further in your field of choice and increases your earning potential.
● A PhD, however, gives you access to jobs in the research or academic world.
● The average PhD holder makes significantly more annually than an MBA holder.
● Obtaining a PhD young gives you an increased return on your investment.
● MBAs are becoming commonplace, while PhDs are in demand in every industry around the world.
If you want to ensure that you’re held as valuable in your career and have as many doors open as possible, the PhD is the way to go. However, if you are solely interested in business and want to live comfortably without the excess stress of continuing education, the MBA serves your purpose.
Impactio Makes Publishing Easier
Every higher institution program requires extensive written work, and once you graduate and enter the academic field as a career, you’ll be expected to publish your findings frequently. The work you write is predominantly knowledge-based from your expertise, but when you have a program like Impactio that makes it easier to format and design your article, the stress load is reduced.
Impactio is an all-in-one software solution designed for and used by expert scholars everywhere. The tools you need to create professional PDF documents and web-based publications are at your fingertips, so you can further your education or continue exploring your research!
