Hi everyone,
This is my first post on this forum. I was accepted to the MD/MBA program at a Canadian university and have decided to defer my admission for a year (until Fall 2018) to complete my CPA, CA designations. I am currently 24 and will be 25 when I do matriculate in Fall 2018. My end goal is to work in healthcare consulting and/or hospital/pharma administration.
The program length is 5 years. Knowing that I will be 30 when I graduate, I wanted to evaluate whether it is better to do the MBA or not. Since I will have my CPA, CA designations along with an existing Master of Accounting (MAcc), would an MBA really add that much value? If I do cut the MBA portion out, I will complete the MD in 4 years (like most med programs).
Whether or not I will do residency is another matter, but I will cross that bridge when I get there when I am in clerkship.
The pros of dropping MBA is that I will finish one year faster and reduce my potential debt burden by about $70K. The cons of dropping MBA include some people believe that the 5-year program will allow me to have more time to ramp up my research experience and match better to more competitive residencies like ophthalmology, derm, etc.
The pros of taking MBA is that this $70K can be considered an incremental cost, and the incremental value may exceed this from an NPV perspective. The con of taking MBA is that I know many big consulting firms hire MDs right out of medical school through the advanced degree program (via their MD) so I am unsure if an extra MBA would be that helpful given my pre-existing business background.
What are your thoughts? Given that I will have CPA, CA, MAcc, should I even pursue the MBA if my end goal is healthcare consulting and/or hospital/pharma admin?
This is my first post on this forum. I was accepted to the MD/MBA program at a Canadian university and have decided to defer my admission for a year (until Fall 2018) to complete my CPA, CA designations. I am currently 24 and will be 25 when I do matriculate in Fall 2018. My end goal is to work in healthcare consulting and/or hospital/pharma administration.
The program length is 5 years. Knowing that I will be 30 when I graduate, I wanted to evaluate whether it is better to do the MBA or not. Since I will have my CPA, CA designations along with an existing Master of Accounting (MAcc), would an MBA really add that much value? If I do cut the MBA portion out, I will complete the MD in 4 years (like most med programs).
Whether or not I will do residency is another matter, but I will cross that bridge when I get there when I am in clerkship.
The pros of dropping MBA is that I will finish one year faster and reduce my potential debt burden by about $70K. The cons of dropping MBA include some people believe that the 5-year program will allow me to have more time to ramp up my research experience and match better to more competitive residencies like ophthalmology, derm, etc.
The pros of taking MBA is that this $70K can be considered an incremental cost, and the incremental value may exceed this from an NPV perspective. The con of taking MBA is that I know many big consulting firms hire MDs right out of medical school through the advanced degree program (via their MD) so I am unsure if an extra MBA would be that helpful given my pre-existing business background.
What are your thoughts? Given that I will have CPA, CA, MAcc, should I even pursue the MBA if my end goal is healthcare consulting and/or hospital/pharma admin?
