The 6 Best Online PhD Business Schools for 2024 | Top Programs Guide

Are you advancing your career in the business world? An online PhD business program could be a transformative step. As the business sector constantly evolves, staying ahead means not just keeping pace but leading the change.

This pursuit isn’t just about climbing the career ladder, though. It’s about acquiring deep expertise that can open new doors and create unprecedented opportunities. A business PhD isn’t just a degree; it’s a key to unlocking potential you may not even realize you have. And an online element makes earning this degree more convenient than ever!

Article Navigation: PhD in Business Salary | Pursuing Online PhD Programs in Business: Time & Cost | Choosing the Best PhD in Business Online | The 6 Best Online PhD Business Programs for 2024 | Differences Between an Online PhD in Business and Doctor of Business Administration | Which Accreditation Is Best for Online Business PhD Programs? | Find Your Online Degree With GetEducated!

PhD in Business Salary

When it comes to education and earning potential, the numbers speak volumes. A study by the Georgetown Center on Education and the Workforce highlights a staggering difference in lifetime earnings based on education levels. The data is clear: higher education, particularly at the doctoral level, seriously boosts income.

• Those with a doctoral degree earn, on average, 38.3% more than their counterparts with a bachelor’s degree.
• Lifetime earnings soar from $2.3 million with a bachelor’s degree to $3.3 million for those with a doctoral degree.
• The employment landscape also favors those with advanced degrees. There’s currently a lower unemployment rate compared to those with only an undergrad degree.

Salaries by Degree and Major

When dissecting the data further, it becomes evident that not only does a PhD in business online offer a salary advantage, but this advantage also varies across different fields. Let’s delve into the specific numbers, focusing on business and related majors:

• In the field of business, the median earnings for bachelor’s degree holders stand at $62,000. This figure jumps to $83,000 for those with a master’s degree and even higher to $94,000 with a doctorate.
• Comparatively, in fields like engineering and computer science, the salary jump from a bachelor’s to a doctorate is even more pronounced. This underscores the value of a PhD in technical fields.
• Notably, the earnings for doctorate holders in almost every field exceed those with only an undergrad degree, illustrating the broad financial benefits of pursuing a doctoral degree.

Pursuing Online PhD Programs in Business: Time & Cost

An online PhD is a significant commitment, both in terms of time and financial investment. Knowing these aspects is crucial in making an informed decision.

Duration of Online PhD Programs in Business

The duration of these programs varies, but typically, these programs can take anywhere from 3 to 7 years to complete. This timeframe is contingent upon several factors, including:

• Program structure
• Full-time or part-time study
• Nature of dissertation

One of the advantages of pursuing an online degree is the flexibility in scheduling. It allows students to balance their studies with professional and personal duties, potentially extending the duration of the program but providing much-needed balance.

Some online programs offer accelerated paths. These are ideal for students who can dedicate more time to their studies and wish to complete their degree faster.

Financial Investment in a PhD in Business

The cost of a PhD in business online can vary widely. On average, students might expect to invest around $59,328. However, this number can fluctuate based on the institution and the specific nature of the program.

The spectrum of tuition fees for these programs is broad. The more affordable online PhD in business management degrees can cost as low as around $13,330. On the other hand, the more prestigious or intensive programs can reach up to approximately $97,300.

Several factors can affect the cost of business-related doctoral programs. These include the:

• Reputation of the institution
• Resources provided
• Duration of the program
• Whether the program is part of accredited programs

While the initial cost may seem steep, it’s important to consider the long-term return on investment. Graduates from the best online PhD programs in business or AACSB-accredited programs often see significant increases in their earning potential and career opportunities.

Pursuing your PhD in business requires careful consideration of the time and financial investment involved. The key is to weigh the immediate costs against the potential long-term benefits, both in terms of career advancement and financial rewards.

Choosing the Best PhD in Business Online

It’s crucial to understand the diversity of majors available and to consider who would most benefit from these programs. This choice is not just about aligning with your career goals; it’s about finding a program that resonates with your personal and professional aspirations.

Majors Available in Online PhD Business Programs

When it comes to online PhDs in business, there is a rich tapestry of academic and professional pathways. Each major is uniquely tailored to cater to different aspects of the business world, addressing specific skills and knowledge areas. They all represent a unique path within the broader landscape of business academia and practice.

• Business Administration: A classic choice, the PhD in business administration online focuses on developing leadership and strategic management skills.
• Business Management: PhD business management programs delve into advanced management theories and practices, preparing students for senior roles in various organizations.
• Finance: For those interested in the complexities of financial markets, a PhD in this area explores in-depth financial theories and applications.
• Marketing: This major focuses on consumer behavior, market research, and strategic marketing management, essential for those aiming to excel in marketing leadership roles.
• Accounting: Specializing in accounting involves an in-depth study of advanced accounting principles, audit practices, and financial reporting.
• Entrepreneurship: Ideal for aspiring business founders, this major covers innovation, startup dynamics, and venture development.
• Human Resources Management: This area focuses on advanced strategies in organizational development, employee relations, and talent management.
• Technology Management: For those interested in technology’s role in business, this major combines business strategy with information technology.

Who Should Pursue an Online Business PhD?

An online PhD in business is a significant decision! It can open doors to new career paths and personal growth.

• Career Academics: Those pursuing academia or research fields find a PhD in business ideal for gaining the necessary qualifications and expertise.
• Business Professionals: Working professionals advancing to higher leadership positions or specializing in a specific area.
• Entrepreneurs and Consultants: For those looking to start their own business or consult at a high level, a PhD can provide deep insights and advanced skills.
• Lifelong Learners: Those passionate about continuous learning and wishing to gain the highest level of expertise in their field.

Choosing the best online business degree means considering the range of majors available. In this vein, you’ll need to recognize who benefits the most from which programs. The key lies in aligning the program with your personal and career aspirations. This alignment ensures a PhD program is not only academically fulfilling but also professionally rewarding.

Reference to Accreditation

Accreditation is important for online doctoral programs in business. It serves as a hallmark of quality. In general, accreditation ensures that your school meets standards of academic rigor and excellence. Two primary types of accreditation to consider are institutional and programmatic.

Institutional: This applies to entire colleges and universities. It’s a prerequisite for any programmatic accreditation and is essential for the eligibility of federal student aid. The USDE and the CHEA recognize regional and national accrediting agencies for this purpose. There are significant differences between regional and national accreditors, however.

Programmatic: Specific to university programs, this accreditation is crucial for fields requiring specialized training and knowledge. It complements institutional accreditation. Also, it’s often overseen by professional bodies or industry-specific associations. Examples include:

• Association to Advance Collegiate Schools of Business (AACBS)
• Accreditation Council for Business Schools and Programs (ACBSP)

Choosing a school with both institutional and programmatic accreditation ensures a high-quality, respected education. Your school and program may maintain recognition in the professional world. This dual accreditation is especially significant in specialized fields and can profoundly impact career prospects post-graduation.

The 6 Best Online PhD Business Programs for 2024

When pursuing an online PhD in business, you want a high-quality program. The six degrees listed below stand out for their prestigious backgrounds and exceptional business education expertise.

From global leadership to organizational dynamics, each program provides deep insights and practical skills needed in today’s complex business world. Let’s take a closer look at what makes each of these programs a top choice for aspiring business leaders.

1. Indiana Institute of Technology College of Business

   Degree: PhD in Global Leadership
   Accreditation (Programmatic): IACBE
   Tuition (in-state & out-of-state): $51,604

   Indiana Tech’s PhD in Global Leadership is one of the best online PhD business degrees today! It fosters leadership skills in a global context and enhances your ability to conduct meaningful, cross-cultural research. This program also stands out for its focus on the nature of leadership across the globe.

   The program is administered online. Working pros can benefit from a large global network of peers and experts. One of its key strengths is the balance between independent learning and supportive community engagement. Students progress at their own pace, aided by a faculty committed to a personal and cooperative academic environment.

   Graduates from this program are equipped to:

   – Take on advanced leadership roles
   – Conduct advanced research
   – Make significant contributions to their organizations

   Students will gain skills in the critical analysis of global leadership theories. All this is conducted through original qualitative and quantitative research. Afterward, graduates understand the dynamics between global leaders and followers within complex systems.

   The program furthermore encourages global research initiatives and and multidisciplinary solutions to global leadership challenges. All this while emphasizing ethical responsibility and accountability.

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   PhD in Global Leadership

    

2. Regent University School of Business & Leadership

   Degree: PhD in Organizational Leadership
   Accreditation (Programmatic): ACBSP
   Tuition (in-state & out-of-state): $64,250

   Regent University’s PhD in Organizational Leadership empowers students to make a significant, worldwide impact. This program, known for its integration of theory and practical application, is completely online. It’s also based on a Christian worldview.

   As one of our top picks for online doctorate programs in business, it consists of 60 total credit hours. Significantly, it does not require GMAT/GRE scores for admission. Students in this program are prepared to become thought leaders in the leadership field.

   The curriculum emphasizes the importance of evidence-based research and strategic thinking in assessing and responding to business challenges. Unique to this program is its exploration of spirituality. This includes the role of chaplains and spiritual expressions within corporate environments.

   Regent’s PhD online is more than an academic degree. It’s a path to personal and professional transformation. The program’s award-winning faculty guides students in enriching their research, writing, and critical thinking skills, positioning them as leaders and innovators in their respective fields.

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   PhD in Organizational Leadership

    

3. Walden University College of Management and Human Potential

   Degree: PhD in Management / Self Designed
   Accreditation (Programmatic): ACBSP
   Tuition (in-state & out-of-state): $68,360

   Walden University offers a distinctive PhD in Management with a Self-Designed specialization. This program comes from their College of Management and Human Potential.

   Priced at $68,360, this PhD in business management online stands out for its flexibility and customization. Students can tailor their doctoral studies to align closely with their personal and professional objectives.

   At Walden University, students work under the guidance of experienced faculty mentors. With their help, they can make conscious choices of courses that push them forward. Overall, the learning experience is as unique as their career aspirations.

   The program doesn’t just focus on the practical application of writing and critical thinking skills. It also emphasizes the integration of professional practice at the doctoral level.

   Its structure includes a mix of core, foundation, and advanced research courses. Then, there are specialization courses, all leading up to a doctoral capstone and dissertation. Offering up to 8 years for completion, the program also for transfer credits from previous doctoral-level study toward elective courses.

   This program is ideal as an online business PhD program offering a multifaceted approach to the highest level of business management education.

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   PhD in Management / Self Designed

    

4. National University School of Business & Economics

   Degree: PhD in Organizational Leadership
   Accreditation (Programmatic): ACBSP
   Tuition (in-state & out-of-state): $76,810

   National University’s School of Business & Economics presents an online PhD in Organizational Leadership. This degree holds ACBSP accreditation.

   With a tuition fee of $76,810 for all students, this program delves into the advanced aspects of leadership. It is structured to deepen the understanding of major theories in organizational leadership, aiming to make a significant contribution to the field.

   The program, designed to take about 38 months, consists of 60 credit hours spread across 20 courses. It adopts a unique academic approach, offering personalized attention through a class size of one, with all-doctoral faculty. The program’s curriculum prepares students to critically evaluate organizational leadership theories and assess the potential for positive change in the field.

   By completing this program, graduates are equipped to contribute to and develop strategies to address modern challenges in the field. This business PhD online program is an excellent fit for those who value a rigorous, in-depth study of leadership within a flexible and student-centered learning environment.

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   PhD in Organizational Leadership

    

5. Antioch University Online

   Degree: PhD in Leadership & Change
   Accreditation (Regional): Higher Learning Commission
   Tuition (in-state & out-of-state): $77,000

   Antioch University’s PhD in Leadership and Change leads to positive change in workplaces, schools, organizations, and communities. This degree is offered through Antioch University’s Graduate School of Leadership and Change.

   If you’re seeking flexible online doctoral programs in business, Antioch is one to watch. The program’s design is considerate of the busy lives of its students, allowing them to live anywhere, work full-time, and still be part of a dynamic learning environment. The structure includes two on-site residencies and one virtual residency each year for three years. This is of course supplemented by a robust online community for continuous engagement.

   Central to the program is the focus on students’ personal interests and professional challenges. Whether it’s exploring team dynamics, academic improvements, resistance to change, or leadership styles, the program encourages in-depth inquiry into these areas.

   The curriculum integrates with the students’ professional practice, enabling them to apply their learning in real-world settings.

   Antioch’s program also enhances the professional lives of its students. By integrating theory and practice, students enrich their current professional roles and expand their careers.

   Graduates can expand their existing career paths, take on new roles, or even enter academia or consulting. The program’s flexible, innovative, and outcomes-based low-residency design ensures a complete academic experience while maintaining professional and personal commitments.

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   PhD in Leadership & Change

    

6. The Chicago School of Professional Psychology

   Degree: PhD in Organizational Leadership
   Accreditation (Regional): WASC
   Tuition (in-state & out-of-state): $97,275

   This online PhD in Organizational Leadership prepares students to lead in dynamic industry settings. It’s ideal for distinguishing yourself as leaders rather than just a manager in various business environments.

   The PhD business online curriculum focuses on teaching how to effectively communicate  objectives and strategies, ensuring business processes are as efficient and effective as possible. Key topics covered include:

   – Diversity
   – Ethics
   – Research strategies
   – Strategic change management
   – Team building
   – Interventions
   – Interpersonal dynamics
   – Leadership methods

   Online PhD programs in business such as this enable graduates to critically evaluate and synthesize relevant research and theory as it pertains to leadership. Students will gain broad knowledge in psychological and leadership principles and learn to apply appropriate leadership methods to meet the specific needs of people, groups, and organizations.

   The program’s format is great for those who wish to combine in-person and online learning. Overall, it offers a balanced approach to theoretical understanding and practical application. Graduates are well-equipped to implement and manage effective leadership strategies, contributing significantly to the advancement of an organization’s mission.

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   PhD in Organizational Leadership

    

Differences Between an Online PhD in Business and Doctor of Business Administration

When considering an advanced business degree, you’ll be faced with the Doctor of Philosophy in Business option or a Doctor of Business Administration. It’s important to understand the fundamental differences between these two paths. While both are prestigious and can enhance your career, they cater to different professional needs and aspirations.

Research Focus vs. Practical Application: The core distinction lies in their focus. Online PhDs in business are research-oriented, emphasizing the creation and testing of theories. PhD candidates are often involved in deep academic research, contributing new knowledge to the field of business. In contrast, a DBA focuses on applying existing theories and knowledge to solve complex, real-world business problems. DBA candidates typically work on projects that have direct implications for business practices and strategies.

Career Paths: Graduates with a PhD in business might pursue careers in teaching, research, or high-level consulting. Their work generally involves exploring theories and contributing to scholarly literature. On the other hand, DBA graduates are more likely to hold senior leadership or consulting roles where they apply research to practical business challenges.

Program Structure: Business PhD programs have a strong emphasis on research methods and theory coursework. But DBA programs often include more practical, strategy-oriented coursework.

These differences are crucial when choosing between PhD programs and business doctoral programs online. Whether your interest lies in research or application, try to align your program with your career objectives.

Which Accreditation Is Best for Online Business PhD Programs?

Accreditation is a key factor to consider when evaluating your program options. There are several accrediting bodies, each with its own focus and recognition.

AACSB-Accredited Online PhD Programs in Business

The Association to Advance Collegiate Schools of Business (AACSB) is a widely recognized accrediting body known for its rigorous standards. AACSB-accredited online PhD programs in business are often considered among the best due to their emphasis on quality education and research. These programs are ideal for students who aim for academic careers or high-level research roles.

ACBSP Business Doctoral Programs Online

The Accreditation Council for Business Schools and Programs focuses more on teaching excellence and practical skills. ACBSP business doctoral programs online are a good fit for those who are looking to apply business knowledge directly in corporate or consulting roles. This accreditation ensures that the programs are relevant to the needs of the business world.

Related Article: Top 15 ACBSP Accredited Schools for an Online Business Degree

IACBE Online Business PhD

The International Accreditation Council for Business Education (IACBE) is known for its focus on student learning outcomes and the effectiveness of business programs. Online PhD programs with IACBE accreditation are recognized for their comprehensive curriculum and the practical skills they impart to students.

The choice of accreditation—be it AACSB, ACBSP, or IACBE—should align with your career goals and educational preferences. Each accreditation body has its strengths, and the best choice depends on whether you prioritize academic research, practical application, or a blend of both in your pursuit of an online business PhD.

Find Your Online Degree With GetEducated!

In today’s leadership industry, PhDs in business are a beacon of advanced knowledge and expertise. Choosing the best online PhD business programs requires careful review of your goals and a program’s assets.

Ultimately, pursuing a business PhD is a great step toward becoming a thought leader the business world! Find out more with GetEducated.