MBA anyone?

[xanthines]

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So my program allows me to take one class per semester from any school in the university (and they'll pay for it, which is the cool part). Some people take spanish to prep for some medical spanish. However, I was wondering if getting an MBA might be useful. I feel kind of silly getting a third degree, but as someone who might need to know about finances and management, I thought an MBA could be helpful, especially if I get wrangled into becoming a director of some kind. Any opinions on how useful an MBA might be for a physician-scientist? Obviously the majority don't get one, I realize...

-X

 

[j-weezy]

I think too many degrees can make it appear as if you aren't focused...as in you just want to be a perpetual student (not that there's anything wrong with that) so unless you have a strong desire, i'd not go for the MBA - remember, business cards are only so big!

 

[xanthines]

I totally agree. In my case, I wouldn't be taking any extra time as I'm quite certain I don't want to be a perpetual student (as opposed to a life-long learner, which is different!). I'm also not interested in business, per se but am wondering if some knowledge of corporate management strategies and finances might be useful for someone running a lab and cranking out RO1's.

P.S. There's no way in heck I'd put "Xanthines, MD, PhD, MBA" on my business cards! 🙂

-X

I think too many degrees can make it appear as if you aren't focused...as in you just want to be a perpetual student (not that there's anything wrong with that) so unless you have a strong desire, i'd not go for the MBA - remember, business cards are only so big!

 

[j-weezy]

I totally agree. In my case, I wouldn't be taking any extra time as I'm quite certain I don't want to be a perpetual student (as opposed to a life-long learner, which is different!). I'm also not interested in business, per se but am wondering if some knowledge of corporate management strategies and finances might be useful for someone running a lab and cranking out RO1's.

P.S. There's no way in heck I'd put "Xanthines, MD, PhD, MBA" on my business cards! 🙂

-X

yeah I see what you mean, certainly it couldn't hurt to take a few business classes - it probably wouldn't culminate in an MBA... don't those take a while?

 

[DeadCactus]

Maybe I'm wrong, but it was always my understanding that they key strength to MBA programs was the networking opportunities. The actual course content is secondary and the degree is largely just a check in a box. That's just the impression I've always gotten.

A few business courses couldn't hurt if it's your interest, but it seems like there would be more useful/interesting coursework available...

 

[BoSoxMack]

i can easily see the advantages of accounting and finance courses, as financial literacy is very nice to have, but i see little value for marketing and business management classes for a physician scientist who presumably would always be operating under the umbrella of a medical center or educational institution of some sort. In the realm of private practice however, these skills would be helpful.

Then again, if these things interest you go for it.

If I was given this option I think I might go for the Spanish, or if it existed a paramedic course (which would be easy after some medical school) and would allow me to ride as a medic in any spare time (something I have always wanted to do).

 

[QofQuimica]

So my program allows me to take one class per semester from any school in the university (and they'll pay for it, which is the cool part). Some people take spanish to prep for some medical spanish. However, I was wondering if getting an MBA might be useful. I feel kind of silly getting a third degree, but as someone who might need to know about finances and management, I thought an MBA could be helpful, especially if I get wrangled into becoming a director of some kind. Any opinions on how useful an MBA might be for a physician-scientist? Obviously the majority don't get one, I realize...

-X

Assuming you have no business background, you probably won't have time to finish the whole MBA even on an MD/PhD timeline. But sure, take some classes if it interests you. I was doing that for a while in grad school. If you're really set on getting the actual degree, check into whether you can waive some of the requirements, particularly the business math classes. My school had 18 courses required for an MBA. I was waived out of the first two math classes and took the third one, which was ridiculously simple (basically setting up systems of equations and solving them using algebra), but actually interesting. It was about how, say, Southwest Airlines figures out where to send all of the planes in their fleet, and how to coordinate it so that a plane sitting in Houston this morning will end up in Manchester this afternoon, and everyone gets to where they want to go. Another class I took was about business and law. This was excellent and really eye-opening. The instructor was a JD who specialized in corporate law. It would be really useful if you're interested in understanding the financial calculus of HMOs and other insurance companies (ex. sometimes it's cheaper to settle a claim than to fight it in court, even if you're in the right and would win the suit). One other thing you might consider is seeing if your program offers a certification in medical business. That would be shorter than a full MBA and more targeted to medical types of applications.

Oh, and I will warn you that a lot of business classes require group projects; at least mine did. That may or may not be a realistic thing for you to do, depending on your schedule and the schedules of your MBA classmates. Sometimes figuring out a time to work on things with other people who all had different schedules and lived two counties away was a huge PITA. And let's just say that not all of your group members will care about their grades as much as you might (though they probably still have to keep a B average just like any other grad students to avoid academic probation). Just something else to think about.