The below steps are outlined for a PhD program and also apply to those seeking a DBA.Online Doctoral Programs Accounting Business Administration Communications Media Insurance Risk Management Intelligence Studies International Business Leadership Marketing Advertising Operations Management Project Management Public Relations Accreditation Importance of Accreditation Home Online Degree Programs Doctoral Degrees How to Get a PhD or DBA in Finance.
But doctorate-level business degrees--the PhD and Doctor of Business Administration (DBA)--are growing in popularity as the discipline steadily raises the bar for business school instructors and industry leaders. A PhD or DBA in Finance represents both mastery of the discipline and a significant contribution to academic theory and its application in business practice. Graduates typically go on to faculty positions in business schools or careers in corporate leadership and consulting. An Overview of the PhD in Finance Business schools originated around the turn of the twentieth century to satisfy demand for business leaders with advanced vocational training. By mid-century, 1950s through the 1960s, the leading business schools began to gravitate toward scientific research using social science methods. Todays PhD programs in finance focus on applying the disciplines of economics, sociology, psychology, systems engineering, and mathematics to advance scholarly research in business. The advent of online doctorate degree programs has made it possible to earn a PhD or DBA in Finance at a flexible pace from anywhere with Internet access. PhD in Finance vs DBA The PhD in Finance is distinct from the Doctor of Business Administration (DBA), a professional doctorate. DBA programs tend to have a heavier emphasis in vocational training. While PhD research focuses on advancing business knowledge, DBA projects apply existing theory to practical business problems. PhD and DBA in Finance degree programs are broadly similar, both requiring similar coursework, an exam, and a doctoral dissertation. The distinction between the two doctoral degrees becomes clear at the dissertation and job search phase. The PhD is a pathway into an academic career as a professor and university researcher. The degree may also lead into advanced consulting or research roles in business or public administration. PhD Career Track Most PhD candidates head to academic careers, splitting their time between research and teaching. Career prospects for business faculty are strong, reflecting a persistent shortage of business PhDs. The Association to Advance Collegiate Schools of Business (AACSB), the leading professional association and accreditation body for business schools, forecasts strong opportunity for aspiring business academics, with an estimated 2,400 new faculty positions opening by 2012. About a third of doctoral program graduates go on to careers outside academia, often as business consultants or as senior-level researchers in the private or public sector. How to Apply for Doctorate Programs in Finance A doctoral degree in finance requires commitment and discipline. Programs can take four to six years to complete, so careful planning is crucial. How to Choose a Program The AACSB accredits nearly 600 business schools. Each doctoral program offers a unique slant on the discipline of finance, with different faculty specializations, courses, online and campus formats, and institutional resources. Which doctorate program in finance is right for you The following steps will help you research your options and find the business school that best matches your career goals.
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