Absolutely, there is a Doctorate in Business, and there tends to several different kinds. One is more practitioner-oriented, which is sometimes called the DBA-degree, an executive doctorate, or an executive PhD. It really just depends on the program in what they call the program.
There is also the PhD, and this tends to be an academic degree, in which they are training you to become a Business School Professor, where you do research or work in a research institution. In this kind of degree, you will learn about the parent social sciences, and all of the material that we have learnt in your discipline for the past 30-40 years.
Is the PhD better than the DBA? Absolutely, not. It really depends on what you want to do when you grow up. If you want to stay in industry, get a teaching job, or go into management consulting, this is going to be your fastest and easiest route. If you want to become a tenure track professor (which is what a traditional professor is), I would suggest that you look for academically-oriented PhD programs.
Does the DBA make you more money than the PhD? Not that I know, but this is so unique to each person that it is difficult to make a judgement on what you are going to make in the future.
The executive Doctorate of Business Administration Degree is becoming more common, and I am starting to see more schools offer it. It is a revenue stream for those schools, but I also think it is ways to offer more variety, as not everyone wants to do the research route.
Check out:
Is A PhD Better Than A Masters Degree?
https://youtu.be/nMHxK-G57Ts
How Useful Is A PhD In Business? Is A Doctorate of Business Administration Practical
https://youtu.be/8LWnvX9hLoE
Leaving A PhD Program With A Masters, Should You Quit Your PhD?
https://youtu.be/g-W_YEmb7TI
First Day As A Professor, What To Expect: New Professor In A Business School
https://youtu.be/czxVgSvGhxE
How To Thank A Professor For A Recommendation?
https://youtu.be/BWymFEWNdGA
How Competitive Are PhD Programs?
https://youtu.be/ADRDnlF9Jl0
As a Professor, How Do You Improve A Course?
https://youtu.be/6Y1YAjQaWos
A Simple Trick For Grad School Note-Taking and Meetings
https://youtu.be/hPrwmg2sz-M
Why Business Professors Need To Publish?
https://youtu.be/sJ7kd5PQpWs
Things About A PhD In Business Nobody Talks About
https://youtu.be/fWBnK_rYoRI
PhD Student Burnout: Why Do PhDs Get Burnout And What To Do About It
https://youtu.be/48CSMEZffKM
Why PhDs Should Do Research That Is Important To Them
https://youtu.be/8qcl9daBapc
How Are PhD Students Evaluated?
https://youtu.be/vStQ_ruMYY4
PhD In Leadership: How To Get A PhD In Organizational Leadership?
https://youtu.be/GzGNGU5mr-Q
PhD In Canada Or The USA: What Are The Differences?
https://youtu.be/QIe8Y3Jmckk
After The Research Gap: What To Do After The Research Gap?
https://youtu.be/8syQdkhzepg
What Is A Fly-Out Interview In Grad School? Campus Interview Academic Job – Professors & PhDs
https://youtu.be/pzjzT8BKkFM
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