The University of Cambridge is planning one of the most expensive business degrees in the world

The University of Cambridge has proposed a new business program that may cause some sticker shock.

The four-year program is a doctorate of business and will cost students $332,000, as the Times Higher Education reported. Not including room and board, that makes it one of the most expensive degrees in the world.

The "Doctor of Business Degree" will be comparable to a Ph.D program, a spokesperson for Cambridge told Business Insider in an email, noting it's still subject to approval.

"The four-year programme's annual fees are comparable to leading Executive MBA programmes, while also reflecting the fact that the programme will be very small and selective, demanding substantial resources for intensive teaching and support services," the spokesperson explained.

For comparison, the Wharton School of the University of Pennsylvania has two-year executive education program that runs students $192,900. The London Business School has a 20-month long program that runs students £72,795, or $106,328.

The University of Cambridge's massive price tag has already led some faculty members to implore the school to think through the implications of creating the new program.

"Where is the intellectual justification for this departure into new doctoral territory?" asked Gill Evans, professor emeritus of medieval theology at Cambridge, according to the Times of Higher Education.