A doctorate is a huge investment in time, energy, and money. I’ve never heard of a doctorate taking less than four years; mine took four years and eight months. You need to have a reason to persevere when progress seems impossible, and there will be several of those discouraging periods during the course of the degree. Some may last months and what must sustain you must be the reason that you began the work in the first place.
You must have a deeply-felt reason to do doctoral studies, and for me, career advancement would not have been enough to get me over the inevitable dispiriting periods. I would have found it too easy to think that while my businesses may not have been exactly where I wanted, it was good enough, and I would have dropped out of the program. Indeed, about 50% (or more, depending on the university and faculty) of doctoral students do drop out.
I would argue that personal fulfillment is the best motivation of all, if it includes reasons that speak to your morals, ethics, or conscience. Those are the reasons that will sustain you over the years and inevitable difficulties in pursuing your research. I began my doctorate in the hope that I could contribute to my new business where we offered experiential learning and training opportunities. I was a little shortsighted about how easy something like that would kick off.
The Benefits of a Doctorate
When it comes to enhancing your knowledge and contributing to your chosen field, few pathways can match the depth of a doctorate or a terminal degree. The benefits of a doctorate extend beyond mere academic gains – they permeate each dimension of your professional enhancement.
1. Mastery in Your Field
A Doctorate equips you with comprehensive knowledge about a specific area, amplifying your analytical, critical thinking and research skills to a level far beyond what a bachelor’s or a master’s degree could offer.
2. Opportunity for Ground-breaking Research or Solving Real-world Business Problems
As a doctorate student, your primary role is to create new knowledge for a PhD and/or solve real-world business problems with a DBA or DSL. The sense of fulfillment derived from contributing something novel to your field can be incredibly rewarding.
3. Networking Opportunities
During your doctorate program, you’ll attend conferences and seminars, presenting you with opportunities to mingle with like-minded individuals, renowned academics and industry professionals, expanding your professional network substantially.
4. Enhanced Career Prospects
With a Doctorate, a broader horizon of career opportunities opens up. You become a university professor, a leader in research organizations, or even a policy-maker influencing critical decisions in your field.
Practical Reasons to Get a Doctorate Degree
1. Societal Impact
Doctorate (either a PhD or professional doctorate like a DBA or DSL) holders can influence policy, promoting changes that positively impact society at various levels.
2. Teaching Opportunities
For those passionate about educating others and impacting future generations, a Doctorate degree is often a prerequisite for higher-level academic positions.
3. Potential Higher Earnings
A direct benefit of a Doctorate is the possibility of higher earnings over the course of your career, although this can vary considerably depending on the field.
