If you have been a lawyer, for example, you could be a good candidate for administrative roles in a law school or at an institution that has a law school. But you'd be less likely to be a strong candidate at an institution without a law school, like a small liberal-arts college. So if you want to move into higher education from another sector, and your background doesn't provide you with a special hook, you will probably get a boost from earning a doctorate. If you have a choice between a Ph.D. and an Ed.D., you should be aware that some people look down on Ed. The prominence of the institution that grants the degree can sometimes balance out the limitations associated with the degree itself, so you should consider both of these factors as well as your own personal situation and interests.
Some people begin doctoral study with the best intention of finishing.
But the road can be long and taxing, and the costs high in time, money, and energy. This is not a good conclusion. Before leaving the question of doctoral degrees, I want to touch on whether you have to have a doctorate in order to be a college or university president. Presidents without doctorates probably have something else very special to offer. Or, presidents without doctorates who are from within higher education probably bring to the job extraordinary skills in highly valued areas within the institution.