DBA vs. PhD: Choosing Your Path in Management Education

By Prof. Jean Luc Cerdin, Prof. Simon L. Dolan and Prof. Michel Kalika

PhD or DBA? As the world of work evolves, this analysis explores how each degree measures up, thereby helping professionals make smarter, values-driven choices for lasting career impact.

This short article reflects the essence of individual choice while also highlighting the transformative potential of both degrees. It invites readers to consider their unique paths and aspirations in the context of business and Management education, encouraging them to explore the opportunities that await.

In today’s dynamic professional landscape, the pursuit of a doctoral degree in management/business is no longer confined to academia. Increasingly, experienced professionals are weighing the merits of two distinct paths: the Doctor of Philosophy (PhD) and the Doctor of Business Administration (DBA). While both are rigorous and prestigious, they serve different purposes and appeal to different aspirations. The choice between them is not merely academic; it reflects deeper questions about how individuals define success, what they value in their careers, and how they envision their future impact.

Drawing on the Dual Aspect Importance and Achievement Career Success Scale (DAIA-CSS) developed by Briscoe et al. (2021), it first examines how professionals experience subjective career success—the personal fulfilment derived from learning, impact, autonomy, and relationships. It then turns to objective career success, focusing on externally recognized indicators such as status and salary. By comparing how each degree aligns with these dimensions, the article offers a nuanced framework to help professionals make informed, meaningful doctoral choices.

Subjective Career Success: Values, Aspirations, and Doctoral Choices

Choosing between a Doctor of Business Administration (DBA) and a Doctor of Philosophy (PhD) demands thoughtful decision-making. It depends on what you value most in your career. Do you seek impact, autonomy, financial growth, or lifelong learning? According to Briscoe et al. (2021), subjective career success is shaped by seven distinct dimensions—each reflecting different aspirations and definitions of fulfillment. By understanding which of these dimensions matter most to you, you can make a more informed choice.

To make a meaningful choice between a DBA and a PhD, it is not enough to consider the nature of the program alone. One must also consider the career that follows.

Let us start by understanding what constitutes “success”. For sure, it has become more complex—and more personal. To address this, the (DAIA-CSS) scale was developed and validated involving 18,471 participants across 30 countries, representing all major cultural clusters. What makes the DAIA-CSS distinctive is its dual-response format: it measures not only how much individuals feel they have achieved in various aspects of their careers, but also how important each of those aspects is to them personally. This approach led to the identification of seven core dimensions of subjective career success that proved meaningful across national and occupational boundaries:

• Learning & Development,
• Work-Life Balance,
• Positive Impact,
• Entrepreneurship,
• Positive Work Relationships,
• Financial Security, and
• Financial Success.

To make a meaningful choice between a DBA and a PhD, it is not enough to consider the nature of the program alone. One must also consider the career that follows. Each of the seven dimensions of subjective career success can be examined across two phases: the experience during the doctorate and the trajectory after graduation. This dual-phase perspective reveals how each degree aligns with different definitions of success.

Learning & Development. For those who value intellectual challenge and the pursuit of knowledge, the PhD offers a deeply immersive experience. It is designed to cultivate original thinking, theoretical mastery, and academic independence. The DBA, while also rigorous, is more practice-oriented; it allows professionals to apply research to real-world business problems, often within their own organizations. After graduation, the PhD typically leads to academic careers where learning continues through teaching, publishing, and mentoring. The DBA, by contrast, is often a springboard for strategic leadership, innovation, or thought leadership in industry. In both cases, learning continues, but the context and purpose differ.

Work-Life Balance. The structure of the DBA is explicitly designed to accommodate the lives of working professionals. Programs are often modular or part-time, allowing candidates to maintain their careers and personal responsibilities. PhD programs, especially full-time ones, are more demanding and immersive, often requiring candidates to put other aspects of life on hold. Post-graduation, the picture is more nuanced. Academic careers can offer flexibility and autonomy, but they are also marked by high workloads, pressure to publish, and administrative responsibilities. DBA graduates, depending on their roles, may enjoy more predictable schedules or greater control over their time, particularly in consulting or entrepreneurial settings.

Positive Impact. PhD candidates often aspire to contribute to knowledge and society through research, teaching, and policy influence. The impact is typically long-term and indirect. DBA candidates, on the other hand, are often motivated by the desire to solve pressing organizational or societal problems. Their research is applied, and the impact is often immediate and visible. In the long run, PhDs may shape generations of students or influence academic discourse. DBAs may transform businesses, industries, or communities. Both paths offer the potential for impact—but through different mechanisms and timelines.

Entrepreneurship. The DBA is particularly well-suited to entrepreneurial ambitions. Many candidates are founders, consultants, or executives seeking to enhance their strategic capabilities and credibility. The program supports innovation, business development, and market positioning. PhDs are less directly aligned with entrepreneurship, though they can support academic spin-offs or innovation in research-intensive sectors. After graduation, DBA holders often leverage their degree to scale ventures or enter advisory roles. PhDs may contribute to innovation ecosystems, but the path is less commercially oriented.

Positive Work Relationships. The DBA experience is typically cohort-based, fostering peer learning and professional networking. Candidates often come from diverse industries and geographies, creating rich opportunities for collaboration and exchange. PhD programs, while collaborative in parts, are often solitary, especially during the dissertation phase. After graduation, DBA holders often operate in team-based environments or leadership roles where interpersonal dynamics are central. PhD holders may work in collegial academic settings, but also face competitive pressures related to funding, publishing, and tenure.

Financial Security. Financial considerations during the doctorate differ starkly. PhD students often rely on stipends or scholarships, which vary widely and may be modest. DBA candidates usually remain employed, maintaining income and often receiving employer support. Post-doctorate PhD careers in academia offer stability but modest salaries. DBA graduates, by contrast, often command higher compensation in executive, consulting, or entrepreneurial roles. The financial risk is lower during the DBA, and the return on investment is often more immediate.

Financial Success. PhD students typically accept short-term financial constraints in exchange for long-term intellectual rewards. DBA candidates invest in tuition but rarely sacrifice income. The financial calculus is different. After graduation, PhDs may achieve financial success if they transition into industry or leadership roles, but academic salaries are generally modest. DBA holders are more likely to see a direct financial return, particularly in high-level business roles or entrepreneurial ventures.

Table 1 illustrates how the DBA and PhD align differently with each dimension of career success, both during the doctoral journey and in the careers that follow. It is important to remember, however, that these dimensions reflect subjective career success—how individuals personally define and experience fulfilment in their professional lives. Each person may weigh these dimensions differently, and what feels like success to one may not resonate with another. The value of the DAIA-CSS framework lies precisely in its ability to accommodate this diversity.

Table 1: Similarities and differences between PhD and DBA

Objective Indicators of Career Success: PhD vs. DBA

While the DAIA-CSS framework provides a robust lens for understanding how individuals define and pursue success on their own terms, it is important to recognize that this perspective captures only one side of the career equation. Career success is also evaluated through more externally visible and socially recognized indicators; this is the domain of objective career success, which includes measurable outcomes such as salary, job title, promotions, and institutional prestige. These markers reflect how success is acknowledged and rewarded by organizations, markets, and broader societal norms (for more support, see for example, Arthur et al., 2005; Gunz and Heslin, 2005).

For professionals weighing the DBA and PhD paths, understanding how each degree performs in terms of these objective outcomes is essential, particularly when considering return on investment, long-term financial security, and career visibility. In this context, indicators such as status and salary become especially salient, as they shape how doctoral qualifications are perceived and valued in professional environments. While subjective fulfillment remains vital, the external validation of one’s achievements often plays a decisive role in shaping career trajectories and opportunities.

Status and the Doctoral Title: A Cross-Cultural and Institutional Perspective

In many cultures, being addressed as “Doctor” carries a weight of authority, expertise, and social distinction that can significantly influence professional interactions and career trajectories.

The symbolic power of the doctoral title, whether PhD or DBA, extends far beyond its academic origins. In many cultures, being addressed as “Doctor” carries a weight of authority, expertise, and social distinction that can significantly influence professional interactions and career trajectories. In academic circles, the PhD remains the gold standard for scholarly legitimacy, often serving as a gatekeeper for tenure-track positions, research funding, and intellectual leadership. The title is not merely a credential but a marker of one’s contribution to the advancement of knowledge. In contrast, the DBA, while academically rigorous, is more closely aligned with applied research and executive practice. Its status is often contingent on the context: in business schools and corporate environments, the DBA is increasingly recognized as a prestigious qualification for senior leadership and strategic consultancy roles.

Cultural norms further shape how the doctoral title is perceived. In countries like Germany, Austria, parts of Eastern Europe, and many countries in Latam (America Latina), the title “Dr.” is used formally and frequently, even outside academic settings, reinforcing its social prestige. In Anglo-Saxon contexts, particularly in the UK and the US, the use of the title is more reserved, often confined to medical domains. Meanwhile, in Asia and the Middle East, doctoral degrees are highly revered, often symbolizing not just educational attainment but also social mobility and familial honor. These cultural variations influence how status is conferred and recognized, affecting everything from networking opportunities to boardroom credibility.

In the professional world, status derived from a doctoral degree can open doors to elite networks, speaking engagements, and advisory roles. However, the nature of that status depends on the degree’s alignment with the expectations of the field. A PhD may command respect in policy or research-driven sectors, while a DBA may be more valued in corporate strategy, entrepreneurship, or executive education. Understanding these nuances is crucial for professionals seeking to leverage their doctoral credentials not just for personal fulfilment, but for strategic positioning within their chosen ecosystems.

Salary as a Marker of Career Success in Business Doctorates

Salary remains one of the most tangible and universally recognized indicators of objective career success. It not only reflects an individual’s market value but also signals how institutions and industries reward expertise, leadership, and strategic impact. For professionals considering doctoral education, the financial implications of pursuing a PhD versus a DBA are far from trivial. Beyond the immediate costs of tuition and opportunity loss, the long-term earning potential associated with each degree can significantly influence career decisions, especially in sectors where compensation is closely tied to perceived authority and contribution.

In academic settings, PhD holders in business typically pursue careers in research and teaching, where salary structures are influenced by institutional prestige, geographic region, and scholarly output. In top-tier business schools—particularly in North America, the UK, and parts of Asia—PhD graduates can secure well-compensated positions, especially when they publish in high-impact journals and contribute to the school’s global reputation. However, outside these elite institutions, academic salaries may be more modest, and the path to financial stability can be prolonged by years of postdoctoral or adjunct roles.

By contrast, DBA graduates are usually experienced professionals who pursue a degree to enhance their strategic capabilities and leadership profile. Rather than entering academia, they often remain in or return to the corporate world, where the DBA can serve as a catalyst for career acceleration. In this context, salary gains are often more immediate and directly linked to the individual’s ability to apply research insights into complex business challenges. The DBA is particularly valued in executive education, consulting, and entrepreneurial ventures, where thought leadership and practical impact are rewarded with higher compensation.

Table 2: Side-by-Side (US Averages)

Note: Figures are approximate and vary by experience, location, and sector.

While both degrees can lead to financially rewarding careers, the nature and timing of those rewards differ. The PhD offers long-term academic capital, often with delayed financial returns, whereas the DBA provides a more immediate pathway to enhanced earning potential, particularly for professionals who can translate their research into visible organizational value.

Conclusion: Doctoral Education in the Future of Work

In the context of the rapidly changing world of work, characterized by digital transformation, evolving leadership models, and the rise of portfolio careers, the landscape of doctoral education in business must also evolve. The choice between a PhD and a DBA is no longer a binary decision between academia and practice; it reflects how individuals define success and how institutions respond to the shifting demands of professionals and organizations in a knowledge-driven economy.

For individuals, the pursuit of a doctorate is increasingly shaped by the need to remain relevant, credible, and impactful in a world where expertise is constantly being redefined. The DAIA-CSS framework reminds us that career success is not one-size-fits-all. Some professionals seek intellectual depth and academic contribution; others prioritize strategic influence, entrepreneurial impact, or financial growth. The PhD and DBA offer different pathways to fulfillment, and the key lies in alignment between the degree and the individual’s evolving definition of success in the future of work.

The choice between a PhD and a DBA is no longer a binary decision between academia and practice; it reflects how individuals define success and how institutions respond to the shifting demands of professionals and organizations in a knowledge-driven economy.

For institutions, this transformation presents both a challenge and an opportunity. Too many universities still hesitate to embrace the DBA, fearing it may dilute their academic brand. But this view is increasingly outdated. The DBA is not a lesser doctorate; it is a different one, designed for a different purpose. It belongs at the heart of executive education, offering experienced professionals a rigorous, research-based platform to address real-world challenges. In a world where business problems are complex, fast-moving, and interdisciplinary, the DBA equips leaders to generate actionable insights with academic integrity.

In this context, the DBA should be seen not as a competitor to the PhD, but as a natural progression from executive master’s programs—such as the Executive MBA or specialized master’s degrees in finance, marketing, human resource management or leadership. For many professionals, these programs provide the foundation for strategic thinking and advanced management skills. The DBA offers the next step: a structured opportunity to deepen expertise, generate original insights, and contribute to the broader business community through applied research. It transforms experienced practitioners into practitioner-scholars—individuals who not only lead but also shape the thinking behind leadership.

This is particularly relevant in the fields of human resource management, strategy, marketing, and finance where globalization, demographic shifts, and digital transformation are redefining the nature of work and talented professionals are now expected to navigate complex, multicultural environments while addressing issues such as remote collaboration, global mobility, and inclusive leadership. The rise of artificial intelligence further amplifies these challenges, raising critical questions about algorithmic bias, workforce reskilling, and the ethical use of data in people analytics (See: Dolan, Raich and Trevino, 2025). A DBA enables leaders to rigorously investigate these emerging dynamics and develop evidence-based strategies that align organizational goals with human potential. By bridging academic research and practical application, the DBA empowers management professionals to become strategic architects of the future workplace—globally aware, technologically fluent, and deeply attuned to the evolving expectations of a diverse workforce.

For business schools, this presents a strategic opportunity. The DBA can serve as a flagship offering within the executive education portfolio, reinforcing the institution’s commitment to lifelong learning, innovation, and societal impact. By integrating the DBA into their ecosystem, schools can build bridges between academic research and business practice, attract high-caliber professionals, and expand their influence beyond traditional academic boundaries. Far from diluting the brand, a well-designed DBA program can enhance it, by demonstrating that the institution is responsive to the evolving needs of the market and capable of delivering research that matters.

As the future of work continues to unfold—with careers becoming more fluid, interdisciplinary, and purpose-driven, the demand for flexible, relevant, and high-impact doctoral education will only grow. Institutions that embrace this shift will be better positioned to lead. And individuals who reflect deeply on their values, aspirations, and definitions of success will be better equipped to choose the path—PhD or DBA—that aligns with their vision of a meaningful and impactful career.

As a final note, let us insist that the future of doctoral education in management/business depends on a shared commitment to relevance, diversity, and the recognition that success comes in many forms. Institutions must evolve to support this diversity, and individuals must choose the path that best aligns with their purpose. The DBA and the PhD are not competitors, they are complementary responses to a world where knowledge, leadership, and impact are more interconnected than ever. In the future of work, both degrees have a vital role to play.

The images are original illustrations by Ishu Shrestha,
HEAD OF DIGITAL STORYTELLING & GLOBAL ENGAGEMENT, The Global Future of Work Foundation. 

About the Authors

Dr. Jean Luc Cerdin is a full professor at ESSEC Business School (France). He specializes in international management of human resources, careers, and mobility. He obtained his doctorate (PhD) at the University of Toulouse and a master’s degree at London School of Economics. Dr. Cerdin has authored and co-authored many publications in his field of expertise, as well as several best-selling books. 

Dr. Simon L. Dolan is the President and Co-founder of GFWF. He was the former director of the ESADE Future of Work Chair, and holds a PhD in People Management and Work Psychology from the University of Minnesota. He is the co-founder of E-merit Academy, creator of the concept, methodology and tools of “Managing, Leading and Coaching by Values” (www.learningaboutvalues.com), and creator of the STRESS MAP and the online digital diagnosis of stress (www.stress2resilience.com), He is the founder of Gestion M.D.S. management consulting (Canada). He is a former full professor at the Universities of Montreal, McGill, Boston, and others. Dr. Dolan has published over 85 books (in different languages), and over 180 articles in journals destined for business and the academia. He is a paradigm breaker and highly solicited speaker on issues of work in Tomorrowland, culture reengineering, innovative executive coaching, stress management and health enhancement, and new leadership.

Dr. Michel Kalika, emeritus Professor, is the president of the Business Science Institute, an international academic network providing an Executive Doctorate in Business Administration (AMBA accredited) in face-to-face (10 locations) and online formats, in French, English, German,  and Spanish. In 2025, the Business Science Institute DBA program included 200+ doctoral manager-researchers from 60 countries, 200+ faculty members, 220 graduates, and a collection of 60+ books dedicated to DBA studies. He has co-coordinated a book on the DBA written by authors from eight leading DBA programs in six countries. Previously, Michel Kalika was professor at Lyon School of Management, University Jean Moulin, at Paris Dauphine University, where he created DBA and MBA programs, and dean of EM Strasbourg Business School. Michel is the author or co-author of more than 25 books and approximately 100 various other publications in the fields of strategy and information technology.

References

Arthur, M. B., Khapova, S. N., and Wilderom, C. P. M. (2005). Career Success in a Boundaryless Career World. Journal of Organizational Behavior, 26(2), p. 177–202. 

Briscoe, J. P., Kaše, R., Dries, N., Dysvik, A., Unite, J. A., Adeleye, I., Andresen, M., ……, & Zikic, J. (2021). Here, There, and everywhere: Development and Validation of a cross-culturally Representative Measure of Subjective Career Success. Journal of Vocational Behavior, 130, 103612.

Dolan S.L. Raich M., Trivino (2025). Equipping for Tomorrow: Unlocking New Skills for the Future of Work in 2033, The European Business Review, July-August

Gunz, H. P., and Heslin, P. A. (2005). Reconceptualizing Career Success. Journal of Organizational Behavior, 26(2), 105–111. 

^[1]The authors are members of the international faculty that comprise our DBA program, which was established over a decade ago by Professor Michel Kalika through the Business Science Institute (BSI) in Luxembourg. Recently, we have strengthened our program with the exciting addition of the Global Future of Work Foundation, which now offers a virtual, multilingual DBA. This innovative program explores a variety of themes and perspectives related to the Future of Work, ensuring that our students are at the forefront of this vital area. Our international faculty represents a distinguished “who’s who” in the field, bringing a wealth of knowledge and experience that inspires and empowers our participants. For more info, check DBA in the Future of Work – Global Future of Work Foundation

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