Question about Graduate school for OBM

I am interested in getting a graduate degree in OBM but I am having trouble deciding whether I should shoot for a doctoral degree. Are there any benefits for having a Doctoral degree over a Masters?

PhD vs MA

This here tackles the question in general terms: http://gradschool.about.com/od/admissionsadvice/a/masterphd.htm

 

And quite frankly I don't know what I can add to the link above. Speaking for myself, I am pursuing a PhD because I'm enthusiastic about the field both in general terms and also in doing my part in adding to our knowledge of human behavior. Also, I want to have more options in the future to dabble a bit in teaching along (hopefully) a career in organizations. 

To me it seems that "only" getting a Master's degree would not give me the same options (that I'm interested in) or as thorough a understanding of the science that I want to achieve. But all of this depends on your professional goals.

PhD vs MA

One should also consider the differentials in time and money investment as part of a cost-benefit ratio. True, a Master's won't enable you to take a regular faculty position at most universities, but that isn't relevant if what you want to do is pursue consulting. In consulting, the degree matters less than actual skills and experience. I have never had a client ask about my degree. I know PhD consultants and Master's level consultants and they are all good consultants because they have good communication skills, good sales skills, good technical skills and so on. Pursuing a PhD doesn't guarantee development of any of those but technical skills, and in some cases PhD studies can take you in directions not useful in practice. You must weigh all these factors in your decision.

PhD vs MA

The knowledge required for a PhD typically does not add that much beyond an MA for consulting jobs, but, the PhD sells and helps to establish initial credibility with a client. Also, I know I greatly improved my written communication skills and business knowledge during my Ph.D. program, but that is very dependent on the classes to elect to take, often outside of your degree program.

So, still a hard choice for the extra time.

If you can knock it out in three years, I think it is worth doing.

Just my thoughts