MBA for Pharmacist

[Kodo89]

Hello everybody,
I am a recent graduate pharmacist, I am thinking bout applying for MBA degree but I am not so sure about it, would it be helpful for further doctorate degree studying, I mean with MBA can I then apply for a PhD, can you help me with this please?
Best Regards

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[BenJammin]

I'd really like to know how an MBA is useful for a pharmacist if you aren't doing it to become a director of pharmacy at a hospital or to change your career.

 

[ksun91]

Well what are you interested in? This would largely determine which degree would be the best.

 

[koercive]

The MBA can open doors to commercial functions in pharma.

You don't really need the MBA for the following, but...
Other management opportunities exist in healthcare settings/PBMs. Also, you could become a director of a health system or hospital.

 

[sisson329]

I made a pretty thorough post in another thread somewhere but yes an MBA can help to further your career. I've spoken to quite a few recruiters lately and it's something they truly see in a positive light for a variety of reasons, plus the classes aren't really that difficult (opinion obviously) and it doesn't take that much time in the slightest. In a market surplus wouldn't you say trying to separate yourself from the rest is a priority?

 

[jet1]

I'm working on my MBA with my PharmD because my SOP offers a dual degree PharmD/MBA program. Initially, I thought i wanted to own my own pharmacy one day, but looking into it further. Like everyone else says, you can go into pharma or become director of pharmacy within a hospital or health-system. I personally want to go into public health which can be helpful there. If you want to go into retail, you can try to climb that corporate ladder. It does help you distinguish yourself from the rest of the pack with an MBA, but you sort of have to sell yourself in the right light if you do. (i.e. why an MBA might be good if you are going into a residency might be a harder sell than an having an MBA going into a pharma position)

 

[BMBiology]

An MBA is useful (1) if you have a lot of work experience; (2) if you received it from a well know university where there is a lot of networking. An MBA doesn't make you a good pharmacy director. Experiences do. You certainly do not need an MBA to open your own pharmacy. Don't take on unnecessary debt. Get a lot of work experience and network. That will distinguish you from the rest.

How valuable is an MBA when anyone can get it online nowadays? We discussed this before: http://mobile.sdn.net/showthread.php?t=922962&highlight=mba

 

[hereticmnk]

I'm working on my MBA with my PharmD because my SOP offers a dual degree PharmD/MBA program. Initially, I thought i wanted to own my own pharmacy one day, but looking into it further. Like everyone else says, you can go into pharma or become director of pharmacy within a hospital or health-system. I personally want to go into public health which can be helpful there. If you want to go into retail, you can try to climb that corporate ladder. It does help you distinguish yourself from the rest of the pack with an MBA, but you sort of have to sell yourself in the right light if you do. (i.e. why an MBA might be good if you are going into a residency might be a harder sell than an having an MBA going into a pharma position)

Wouldn't MPH be more useful then?

 

[jpa1000]

.

 

[BenJammin]

I'm definitely opposed to PharmD/MBA combos for the fact that an MBA isn't valuable if you lack real world experience and I'm not talking about a year internship.

 

[jet1]

Wouldn't MPH be more useful then?

YEs, an MPH would be better, but i didnt know I wanted an MPH until a few months ago. We will see if i'll be adding a third degree to my name.

 

[hereticmnk]

YEs, an MPH would be better, but i didnt know I wanted an MPH until a few months ago. We will see if i'll be adding a third degree to my name.

My understanding is that there aren't too many pharmacists with an MPH vs. say compared to a MBA. An MBA may be more versatile. I do not know much the topic but I am a bit biased towards an MPH because I am getting one

 

[jet1]

My understanding is that there aren't too many pharmacists with an MPH vs. say compared to a MBA. An MBA may be more versatile. I do not know much the topic but I am a bit biased towards an MPH because I am getting one

Any secondary degree would be beneficial. I know one of the reasons I got it was the diversity of jobs that will open up to me once I graduate. I like doing a lot of things.

 

[gotdrugs]

Any secondary degree would be beneficial. I know one of the reasons I got it was the diversity of jobs that will open up to me once I graduate. I like doing a lot of things.

Just out of curiosity as it's not my thing but what jobs will open up to you for receiving an MPH degree?

 

[Kodo89]

I'd really like to know how an MBA is useful for a pharmacist if you aren't doing it to become a director of pharmacy at a hospital or to change your career.

Well what about if you are in a city with more than 100 offices of pharmaceutical companies? that is my situation, it became all business.

 

[Kodo89]

Well what are you interested in? This would largely determine which degree would be the best.

Well I am interested in 3 fields those are academy, business and pharmaceutical organizations

 

[Kodo89]

I made a pretty thorough post in another thread somewhere but yes an MBA can help to further your career. I've spoken to quite a few recruiters lately and it's something they truly see in a positive light for a variety of reasons, plus the classes aren't really that difficult (opinion obviously) and it doesn't take that much time in the slightest. In a market surplus wouldn't you say trying to separate yourself from the rest is a priority?

Exactly that is my idea separate your self from the rest.

 

[jet1]

Just out of curiosity as it's not my thing but what jobs will open up to you for receiving an MPH degree?

not really open up, but easier to get into like FDA, CDC, etc. These are the ones that pop into my head.

 

[lorain]

i have a mba, from a non top university

no 1 asks me where you got the mba, that phenomena hasnt hit the healthcare professional side yet

the 2nd degree helps, but you need to know what you are doing. work experience is still the most important

 

[Sparda29]

How long are MPH/MBA programs in general?

 

[rxlea]

How long are MPH/MBA programs in general?

Usually an extra year. Some schools allow you to complete it alongside your PharmD but you'll be busting ass. Otherwise, a masters is two years.

 

[joetrisman]

Usually an extra year. Some schools allow you to complete it alongside your PharmD but you'll be busting ass. Otherwise, a masters is two years.

Yup

 

[rxlea]

Yup

 

[hereticmnk]

Any secondary degree would be beneficial. I know one of the reasons I got it was the diversity of jobs that will open up to me once I graduate. I like doing a lot of things.

I disagree with that... Being overqualified for a job is not always a good thing especially if you have degrees that are unrelated to the job you are applying for.

 

[BenJammin]

I disagree with that... Being overqualified for a job is not always a good thing especially if you have degrees that are unrelated to the job you are applying for.

I could have sworn that I read someone post something along the lines of "if you have a residency then say goodbye to a retail job, they'll put your application at the bottom of the pile". Might be truth to that.

 

[hereticmnk]

I could have sworn that I read someone post something along the lines of "if you have a residency then say goodbye to a retail job, they'll put your application at the bottom of the pile". Might be truth to that.

Well I am sure a residency in retail pharmacy would be desirable but other residencies might not be relevant to the job. But to be honest, retail jobs shouldn't be too much of a problem vs. say a hospital job.

I had an employer tell me that he does not like to hire overqualified people is because they tend to think of the job they got as temporary and are bound to quit as soon as they find a job that they covet.

 

[samisab786]

Any secondary degree would be beneficial. I know one of the reasons I got it was the diversity of jobs that will open up to me once I graduate. I like doing a lot of things.

I'm a lot like you. I like doing a lot of things, perhaps not something that is necessarily pharmacy specific. I've been wanting to do something in public health for as long as I started pharmacy school, but my school offers a PharmD/MBA program, not a PharmD/MPH. Many kids are doing the MBA program and I've considered it too because it seems more versatile to get a job. I've heard of people not needing the MPH (as a health-care professional already)-so perhaps I may go in the same path as you.

 

[lorain]

I'm a lot like you. I like doing a lot of things, perhaps not something that is necessarily pharmacy specific. I've been wanting to do something in public health for as long as I started pharmacy school, but my school offers a PharmD/MBA program, not a PharmD/MPH. Many kids are doing the MBA program and I've considered it too because it seems more versatile to get a job. I've heard of people not needing the MPH (as a health-care professional already)-so perhaps I may go in the same path as you.

a 2nd degree helps, but you need the experience

a new dual degree grad with no experience lacks a major thing on the resume: work experience

 

[samisab786]

a 2nd degree helps, but you need the experience

a new dual degree grad with no experience lacks a major thing on the resume: work experience

I can imagine, I also find experience def more useful way to learn as opposed to sitting in a class all day long, but unfortunately all of my pharmacy experiences are reserved to IPPEs as of now because I've been having a difficult time finding a job. I'm still looking a position (going on for about two years now), but in the meantime, I do have a job on-campus as well as a lot of campus involvement (clubs, activities, etc.). I am hoping that my rotations will also enhance my experiential opportunities. But like jet mentioned, I like trying different things and I'm hoping maybe the MBA can help diversify my course load as well as my career options, maybe.

 

[moolman]

A residency in managed care will get you somewhere more than a MBA with no experience. Alright, just think this through, what kind of job do you think there is for you with a MBA. A realistic job, let's say you want to go corporate and work for a PBM or health plan, wouldn't a residency be better. Or do the MBA if you want the diversity in education but realize you still have to do the residency and get the experience.

 

[lorain]

I can imagine, I also find experience def more useful way to learn as opposed to sitting in a class all day long, but unfortunately all of my pharmacy experiences are reserved to IPPEs as of now because I've been having a difficult time finding a job. I'm still looking a position (going on for about two years now), but in the meantime, I do have a job on-campus as well as a lot of campus involvement (clubs, activities, etc.). I am hoping that my rotations will also enhance my experiential opportunities. But like jet mentioned, I like trying different things and I'm hoping maybe the MBA can help diversify my course load as well as my career options, maybe.

the experience rocks

but the mba helps me a lot too, especially when it comes to budgets

 

[BMBiology]

An MBA is useful (1) if you have a lot of work experience; (2) if you received it from a well know university where there is a lot of networking. An MBA doesn't make you a good pharmacy director. Experiences do. You certainly do not need an MBA to open your own pharmacy. Don't take on unnecessary debt. Get a lot of work experience and network. That will distinguish you from the rest.

How valuable is an MBA when anyone can get it online nowadays? We discussed this before: http://mobile.sdn.net/showthread.php?t=922962&highlight=mba

I have been saying this for a long time. Here's the new grad hiring survey:

"As for those with MBAs — master's level business degrees — Gardner said it appears companies are more willing to fill jobs with bachelor's-only recipients, who command less salary. That's unfortunate for a glut of MBA students still coming up through the system.
"The top-school MBA grads aren't going to have a problem," Gardner said. "It's all these kids without a lot of professional experience that aren't at the top-tier programs that will probably struggle to find work that is an 'MBA job.'"

Read more: http://www.sfgate.com/news/us/artic...dest-rise-in-hiring-4037844.php#ixzz2CIaCkhNY

 

[BenJammin]

I have been saying this for a long time. Here's the new grad hiring survey:

"As for those with MBAs — master's level business degrees — Gardner said it appears companies are more willing to fill jobs with bachelor's-only recipients, who command less salary. That's unfortunate for a glut of MBA students still coming up through the system.
"The top-school MBA grads aren't going to have a problem," Gardner said. "It's all these kids without a lot of professional experience that aren't at the top-tier programs that will probably struggle to find work that is an 'MBA job.'"

Read more: http://www.sfgate.com/news/us/artic...dest-rise-in-hiring-4037844.php#ixzz2CIaCkhNY

I'm definitely opposed to PharmD/MBA combos for the fact that an MBA isn't valuable if you lack real world experience and I'm not talking about a year internship.

Called it!

 

[BMBiology]

You know there's a problem when DeVry is offering an MBA program. A PharmD is going down that path as well.

 

[BMBiology]

I just checked out the UOP Pharm.D/MBA program and it cost an additional $62,500 in tuition alone to get an MBA.....an MBA from a not so well-known school! Unbelievable.

http://www.pacific.edu/Academics/Sc...ssion/MBA-Admission/MBA-Tuition-and-Fees.html

And to get an MBA from a well known business school like USC:

http://www.marshall.usc.edu/mba/admissions/cost

$100,000!! So to get an MBA/PharmD from USC, it would cost you almost $300,000 in tuition alone! (not including living cost, books, transportation, etc). Unbelievable!

Again, don't be fool. Only consider doing an MBA if you have plenty of work experience and from a well known business school. An MBA is a dime in a dozen. It doesn't mean anything if you go in retails. You will be wasting your money.

If you want to go into industry, do a residency or a fellowship. That's what they want to see. It's about work experience, not learning business from a book.

 

[IndustryPharmD]

Ah, another zombie topic. Talked to death years ago, yet still refusing to go away!

 

[BenJammin]

Harding University offers an MBA/PharmD and I can only laugh at those jokers. An MBA without full time experience is absolutely worthless. It's as if you didn't have one at all.

 

[moolman]

Ah, another zombie topic. Talked to death years ago, yet still refusing to go away!

I've been watching the walking dead on AMC... These fools are like the zombies mofos won't die.