For many individuals who work in the world of business and finance, the nonstop schedule and long days can lead to burnout after many years or decades. If you already hold a degree in business administration and have an active career in financial management, you may be ready to switch to a less stressful career that still utilizes your extensive knowledge on the subject.
One great option is switching to academia. Thanks to your vast experience, you might make an excellent educator to teach the next generation of students about business and financial management. Read on to get a better idea of earning a Financial Management – PhD in Business Administration, reasons to pursue a doctorate in this field, what your career prospects will be after graduation and the many benefits of online study.
What to Expect With a Ph.D. Specializing in Financial Management
A Ph.D. program in business management that focuses on financial management will start with roughly two years of online classes. These classes will put an emphasis on finance, economics, statistics and understanding the financial consequences and actions of a large business. Online students can take all of these courses over the Internet.
Following these classes, students will take a preliminary exam to show that they have understood and comprehended the course materials. The next section of a Ph.D. program will consist of research and writing for a major thesis. Creating and perfecting your thesis can take anywhere from two to five years depending on the time you have to commit to the degree. The final portion of the degree is publishing and orally defending your thesis.
Reasons to Pursue a Doctorate
The biggest reason to pursue a doctorate like the Financial Management Ph.D. in Business Administration is so that you can either advance your business career or switch to a new career field like academics. Although some doctoral degree holders will continue to lead the financial decisions of large businesses around the world, the vast majority prefer to work in academia. They may work in small community colleges teaching undergraduate students, or they could teach business finance to the highest level students who will go on to pursue their own doctorates in the future. You might also want to pursue a doctorate in order to earn a higher salary, earn the respect of your peers or become a leader in your field.
Career Prospects in This Field
Unfortunately, the career prospects for financial management is not set to raise higher than the population increase in the United States over the next decade. However, that only shows that competition in the field will increase, requiring potential employees to need greater educational qualification like a Ph.D. As the business world stagnates, academics will continue to rise and will require more qualified professors, meaning that this degree is the perfect solution for finding a stable career at the highest level.
Benefits of Online Study
Earning your Financial Management Ph.D. in Business Management online is a smart choice for those who already hold full time jobs or who don’t want to travel daily to a college campus. As online degrees become increasingly popular at the doctoral level, employers are just as likely to accept and respect online degrees as they are traditional college degrees. By saving you time on commutes and offering students the ability to pursue their degrees at their own pace from the comfort of home, it should be no surprise that online doctorates are such a great choice.
If you are ready to leave the stressful world of business and finance for a more relaxed and stable career as a professor, then a doctoral degree in financial management may be the perfect choice for you.