The most prestigious degree you can earn for your academic proficiency is the doctorate or the Ph.D. Therefore, it comes as no surprise that in this age of information, more and more people are gravitating towards doctorate degree pursuits. Doctoral degrees are also pursued for another reason - money.
Why are People with Doctorates Paid Much More?
Yes, people with a doctorate are paid much higher than people with Master’s degrees. Business Ph.D. holders get 9% more over their lifetime as opposed to those with Master’s degrees. When it comes to education, that number rises to 24%.
The reason for this phenomenon is quite simple: a person with a doctoral degree has mastered the knowledge about the skill or the applied theory of the same. Achieving a doctorate firmly positions you as a subject matter expert in your field. These are qualities that employers look for in their employees, especially if the job mandates so.
Types of Doctoral Degrees
Since there are so many fields and sub-branches emerging over the years, professionals make it a point to differentiate themselves by specializing in their doctoral degrees. Here are 6 of the most popular doctoral degrees people seek today.
Doctor of Public Health (DPH)
This degree is what you need to pursue if you want to lead programs that affect global or population health. The DPH degree holder will be leading policy and programs in the public health sector. DPH will help the ones pursuing it to develop critical skills that can help them identify, validate and enhance population-based public health strategies, make meaningful contributions to public health interventions and strategies, create and assist in public health policy and programs, and establish models that are not only non-labor intensive but also cost-effective to drive meaningful change.
Doctor of Healthcare Administration (DHA)
You should consider pursuing this degree if you want to focus your attention on the healthcare sector and its administration. This course is for individuals who want to lead businesses within the healthcare industry. The DHA program generally focuses on the practical applications of public health theory, its evaluation, as well as its improvement across the business of healthcare which includes administration, communication, marketing, policy, program management, and regulation.
Doctor of Business Administration (DBA)
If you are looking to lead a business either as CEO, CFO, COO, CIO, etc. or as a consultant, this is what you should most likely pursue. A person who holds a DBA is established enough to lead the innovation, evolution, and adaptation efforts necessary to help the business meet the capricious demands of the economy. They teach students how to lead and influence organizations in the most effective way by teaching what makes businesses work, improve, grow and most importantly fail so that they know the signs early on.
Doctor of Information Technology (DIT)
With so much importance being given to IT now, it is only natural that you have more people pursuing this degree. These people are not just your everyday technology specialists; they are niche leaders who can drive organizations through challenges related to IT and hence they are extremely high in demand. Their presence in the company unlocks the success and growth of business plans and the subsequent smooth execution of those plans. These leaders influence the business from the technological vision all the way to its assessment as well as its ability to perform its mission.
Doctor of Social Work (DSW)
You should consider pursuing this doctorate if you want to drive change in the field of social justice and the proper execution of social work. A doctorate in social work will help you get to a position where you can expand on your independent practice or work towards bringing about reforms in new populations or areas, or attain leadership roles in social work organizations and agencies. You will get a hand in influencing social change and initiate interventions that improve the quality of life for marginalized or oppressed communities.
Doctor of Professional Studies – Instructional Leadership Design (DPS, ISL)
If your interest lies in curriculum design and development, then this degree is the right choice for you. People who hold DPS-IDL degrees develop multi-tiered learning strategies so as to help different organizations improve and retain talent. They work to develop technical proficiencies, senior leadership competencies, systems necessary for knowledge transfer, and so on.