ive been doing lots of research on this (both on this site and on internet), about a HCP (md, do, pharmD) going to get a health care admin MBA after graduating from the health school. I mean i know its imp where one normally goes for an MBA, but if one already has a professional degree, doesnt that already make em stand out for the competition? so basic question, after the med school, in the whole scheme of things, does it really make a difference whether one goes to Case western, or cleveland state, or Chatham univ, or NYU business school for the mba? personally, as long as its accredited, it should be ok.. any thoughts?
does it really matter the school one goes for MBA?
- Thread starter psurocks
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Depends on a few things..
what do you want to do afterward? If you want to work in venture capital, yes they care if you're a Wharton/Chicago/Stern alum or a Kalamazoo alum. If you want to read a balance sheet as part of your managerial responsibilities, no one's going to ask you where your mba is from provided you ask intelligent questions.
What I value about earning a top mba is the confidence - there's no sense during a presentation of "that person earned an mba from a better school, so I'd better keep my mouth shut & listen to them". If I don't understand something being explained, I now realize it's because I wasn't paying attention, or it's not being explained clearly. Now I have no fear of asking "stupid" questions, having learned from some of the best instructors out there.
what do you want to do afterward? If you want to work in venture capital, yes they care if you're a Wharton/Chicago/Stern alum or a Kalamazoo alum. If you want to read a balance sheet as part of your managerial responsibilities, no one's going to ask you where your mba is from provided you ask intelligent questions.
What I value about earning a top mba is the confidence - there's no sense during a presentation of "that person earned an mba from a better school, so I'd better keep my mouth shut & listen to them". If I don't understand something being explained, I now realize it's because I wasn't paying attention, or it's not being explained clearly. Now I have no fear of asking "stupid" questions, having learned from some of the best instructors out there.
well say being a hospital adminstrator for your typical 130 bed small town hospital or running a ltr....for those types of things, and not necessarily trying to become the CEO of mayo clinic or something, would the place of mba matter or is any school ok as long as it has tat business accrediation?
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I have met some extremely successful execs (physicians and pharmacists) who went to good, solid schools, but not necessarily the top tier schools from a business standpoint.
Check out Modern Physician to see some profiles.
Check out Modern Physician to see some profiles.
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Business is all about results.
However, to have the opportunity to get results, you have to get your foot in the door first.
In order to get your foot in the door, someone has to open it for you. You can't just walk into a VC firm tooting your own horn.
Thus, to excel in business, you NEED connections! It's really no different than medicine, or anything else in life. It's not what you know, it's WHO you know.
To make these connections, you need to fraternize with the wealthy and powerful.
People who are born rich have an easy time doing this. All others need to get into a top MBA school. This is where the powerful and influential hang out, and you need to join their club. You need to have the letters behind your name, and the academic "pedigree" and image.
If you go to a willy-nilly B-school, you're not going to make a mark, or make as much money. It'll be a job, but you won't be proud of it.
However, to have the opportunity to get results, you have to get your foot in the door first.
In order to get your foot in the door, someone has to open it for you. You can't just walk into a VC firm tooting your own horn.
Thus, to excel in business, you NEED connections! It's really no different than medicine, or anything else in life. It's not what you know, it's WHO you know.
To make these connections, you need to fraternize with the wealthy and powerful.
People who are born rich have an easy time doing this. All others need to get into a top MBA school. This is where the powerful and influential hang out, and you need to join their club. You need to have the letters behind your name, and the academic "pedigree" and image.
If you go to a willy-nilly B-school, you're not going to make a mark, or make as much money. It'll be a job, but you won't be proud of it.
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Every choice you make in life opens some doors and may inadvertently close others. At this point in history, if you're an MD from a reasonably good medical school, and you do well on the GMAT, you should be able to get a spot in a top business school (that may change a bit soon). So my question is, with tuition costs about the same across MBA programs, why wouldn't you go to a top MBA program? Several of the top programs (namely Kellogg, Wharton, Chicago) have excellent part-time programs that would allow you to practice and actually earn (and save) money while you are doing the MBA. These can be done in 2.5-3 years. As a doctor, you can work anywhere in the country you want, so why close doors? Even if you don't want a "traditional" corporate job, you never know what opportunities might arise.
I would also be cautious about pursuing "executive MBAs" or "healthcare MBAs" even at top programs. You might learn a thing or two, but they really are expensive, and of somewhat limited value if you do choose a traditional route unless you already are working for a company where you want to stay.
Finally, I think with the current turn of events in the economy, the days of physicians doing APD programs at McKinsey or BCG and then just waltzing into private equity firms are pretty much over. You'll probably need an MBA from a top program to get hired by these firms with the stiff competition from job seekers for the next few years, so go big if you know what I'm saying.
I would also be cautious about pursuing "executive MBAs" or "healthcare MBAs" even at top programs. You might learn a thing or two, but they really are expensive, and of somewhat limited value if you do choose a traditional route unless you already are working for a company where you want to stay.
Finally, I think with the current turn of events in the economy, the days of physicians doing APD programs at McKinsey or BCG and then just waltzing into private equity firms are pretty much over. You'll probably need an MBA from a top program to get hired by these firms with the stiff competition from job seekers for the next few years, so go big if you know what I'm saying.
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Hmm, I reread arrhythmia7's post (the one your arrow was pointing to) a few times trying to figure out where he or she alluded to big companies, and couldn't find anything to that effect. Maybe you should reread it too.
My interpretation of that post, in one sentence, is that with a good score on the GMAT and an MD from a decent med school one has a reasonable chance of being accepted to a top business school, so why not shoot for the top, especially that you never know how your plans/interests would change so may as well keep as many doors open as possible. I think that's great advice.
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about the healtcare MBAs, they really do cost a lot....I am thinking about doing a joint degree during OD school, but the one that our school offers is one of the executive MBAs.
I don't really know what the differences are between these executive MBAs and regular MBAs??
which type of MBA do people from health care program usually apply for? intuitively it would be health care MBA because it sounds like the program modifies their classes more towards our field? am I wrong?
any advice would be appreciated.
I don't really know what the differences are between these executive MBAs and regular MBAs??
which type of MBA do people from health care program usually apply for? intuitively it would be health care MBA because it sounds like the program modifies their classes more towards our field? am I wrong?
any advice would be appreciated.
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As I mentioned above, while healthcare MBAs might offer interesting classes, they just don't give you the same flexibility and options after graduation as a straight MBA. Period. You're already a doctor, so your expertise in healthcare isn't going to be so much of an issue at interviews as your ability to analyze a spreadsheet or understand complex marketing tactics having never had coursework in these areas.
You mentioned confusion about the differences between programs in your post...just look at the websites, and you should find everything you need. Executive MBAs tend to gear towards mid-career professionals, are often shorter, and don't typically have the same recruiting opportunities as a straight MBA. The idea is targeting specific coursework or connections that will get you ahead WHERE YOU'RE AT NOW. Of course, they will take $50k from anyone that wants to write a check.
Healthcare MBAs often have most of their projects and advanced coursework geared towards healthcare specific topics. Honestly, I think if you're an MD you are really wasting your money here. Forget about on campus recruiting from top consulting or finance houses. Doesn't happen. If you want to stay in healthcare, just save your money and build connections yourself. Also, at most programs, you have access to the healthcare-oriented classes in the straight MBA (full and part-time).
You mentioned confusion about the differences between programs in your post...just look at the websites, and you should find everything you need. Executive MBAs tend to gear towards mid-career professionals, are often shorter, and don't typically have the same recruiting opportunities as a straight MBA. The idea is targeting specific coursework or connections that will get you ahead WHERE YOU'RE AT NOW. Of course, they will take $50k from anyone that wants to write a check.
Healthcare MBAs often have most of their projects and advanced coursework geared towards healthcare specific topics. Honestly, I think if you're an MD you are really wasting your money here. Forget about on campus recruiting from top consulting or finance houses. Doesn't happen. If you want to stay in healthcare, just save your money and build connections yourself. Also, at most programs, you have access to the healthcare-oriented classes in the straight MBA (full and part-time).
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it absolutely matters.
a friend of mine
is deciding to go to cleveland st 30 grand for the program, or Case western, which is 90 grand for the mba program.....the 60K worth the difference?
I mean, in this market, i *think its hard to justify tat difference?
is deciding to go to cleveland st 30 grand for the program, or Case western, which is 90 grand for the mba program.....the 60K worth the difference?
I mean, in this market, i *think its hard to justify tat difference?
well i think hes got OSU on his list, which is 21 in the part time program ranking and hes goin there
i think thats a good decision
It was said earlier, but it deserves repeating. Business school is all about the connections you make. You want to go to a good school that attracts bright and ambitious people who will someday be the leaders in their industry. Success transcends professions, and it's to your advantage to surround yourself with people looking to succeed.
