Earning a doctorate is certainly a serious undertaking. Especially when it is possible to earn a six-figure salary with an MBA or other college degree, many students doubt the relevancy of enrolling in a doctoral program, given the time and work one must put in to graduate.

For example, committing to earning a Doctor of Psychology (PsyD) is undoubtedly a major decision. However, the benefits of the degree are incredibly rewarding. A PsyD not only increases employability and earning potential, it can also grant people immense networking opportunities and the chance to contribute significantly to their academic and professional field.

The Bureau of Labor Statistics reports that the median pay is $1,591 per week for individuals with a doctorate — more than double that of those with a high school diploma. Further, only 2.1 percent of people who hold doctorates are unemployed, while the unemployment rate for those without a college degree is almost triple that at 6 percent.

Whether you’re already employed and want to move into a top position within your company or you want to land a high-level career after graduation, a doctorate can help you get there; in fact, many top-level positions require it, depending on the industry. The time and investment it takes to complete a PsyD program is typically worth the effort once graduates are employed. That said, students should research their desired occupation before embarking on a doctoral program.

Benefits of a Doctoral Degree

Below are some of the benefits of getting a doctorate which might help your decision on whether you should get a doctoral degree or not:


The nature of a doctoral degree program teaches students to be team players, problem solvers, excellent public speakers, great writers and communicators, and independent and lifelong learners. Employers view graduates of PsyD programs as quality candidates for open positions. The difficulty, intense preparation and commitment demanded by doctoral programs lead to perseverance and highly analytical minds, which are major assets for employers seeking leaders within their organizations.


Rigorous research and problem-solving skills gained in a doctoral program prepare graduates to make a difference in their chosen field. The doctoral dissertation requires students to take a hard look at an existing issue and conduct in-depth research to come to an original solution or proposal. The opportunity to have an impact on important issues is often the driving force that keeps a student on track to graduate from a doctoral program.


Because a doctorate proves a person has mastered high-level writing, critical thinking, research and analysis skills, it’s an impressive distinction that makes people stand out in a crowd. This, coupled with the connections students make with similarly minded classmates, makes for excellent professional networking opportunities.

You can earn you’re a Doctoral degree from Touro University in a convenient online platform. A Doctoral of Management is designed for senior executives and top management, or those wishing to attain that level of employment. Touro’s Doctoral of Psychology in Human & Organization can distinguish you as a leader in human asset management.