All types of businesses need competent leaders; therefore, you will be more than qualified with an online doctorate degree in management under your belt. As a professional degree, you can specialize in a variety of different areas of study, such as in economics, statistics, marketing, accounting, health care management, in addition to, information technology management, plus many more. The choice is yours, as you choose an area that fits your personality. With an online Ph.D. in Management, you can concentrate on research or teach at the university level.
As a professor in this field, you can instruct others in advanced courses related to all aspects of management and leadership. At a college or university, professors earn an average of $76,000 per year according to the BLS, as of May of 2017. Typically, salaries are dependent upon experience, the school location, as well as, the subject matter. Professors at the postsecondary level can earn upwards of $170,000 or more per year. In this capacity, you may also choose to continue important research as you look for efficient ways to determine policies and strategies in management, recommend innovative products, and assess cost and development. You may take an interest in publishing significant research findings, as well. In academia and research, you can also participate in speaking engagements, if you’d like.
But besides teaching and research, what else can you do? Top management positions can be secured with an online Doctor of Management degree. Without a doubt, you can become a Chief Executive Officer (CEO) in whichever field of business that interests you. Other top management positions would include that of the Chief Operation Officer (COO) or the Chief Information Officer (CIO). Senior executives earn between $183,270 and $208,000 or more per year, according to the BLS, as of May 2017. The average salary was $104,700 annually. Although this field should grow by 8% between 2016 to 2026, they are coveted and competitive positions to attain. As a top executive, you will be expected to ensure that an organization meets all production and sales goals. The duties of a CEO often requires long work hours and extensive travel.
Management consultants earn between $56,950 to $108,330 or more annually. They offer valuable services, such as advice on business solutions, production and sales, in addition to, the best ways to forge relationships between a corporation and its vendors, customers, and employees. They are often hired by large conglomerates, retailers, healthcare organizations or by small business owners looking to expand. Also, in this capacity, you can enjoy the benefits of self-employment if you choose, as you offer your expertise to others.
Do you enjoy managing money? If so, you can put your online doctoral degree in management to good use in the field of finance. Financial managers earn upwards of $125,000 annually, according to the BLS, as of May 2017. In this prime position, you will have the responsibilities of overseeing a company’s financial stability. You will manage and produce financial documents, supervise risk and cash management, as well as, review and promote new economic strategies for the business. As the economy expands, so will the need for qualified financial managers with an online Ph.D. or Doctor of Management degree.
If you would delight in becoming a leader in any business, your graduate degree will be most helpful as it will allow you to get an in-depth understanding of what goes into the field of management. You should concentrate on an area that you find interesting and exciting, without a doubt. We have compiled a list of the Best Online Schools for Doctor of Management degree programs to help you make an informed decision. Good luck!