MBA in vet med

[whompwhomp]

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I was wondering if anyone had any experience with how useful a MBA ACTUALLY is in the veterinary profession. I have been doing some research and it almost seems like a MBA is mostly a resume builder for big corporations, and that the actual knowledge can be obtained through less expensive means like books, podcasts, etc.

Thoughts?

 

[August West]

I was wondering if anyone had any experience with how useful a MBA ACTUALLY is in the veterinary profession. I have been doing some research and it almost seems like a MBA is mostly a resume builder for big corporations, and that the actual knowledge can be obtained through less expensive means like books, podcasts, etc.

Thoughts?

I don't know anything about the reality of such things, but I can't imagine it being looked upon as anything but an asset. In theory, a DVM coupled with an MBA would be a double threat and a veterinary force to reckon with. Very expensive path, though. I am currently taking a Small Business Management and Entrepreneur course at a local community college. I also plan to get involved with the veterinary business club (VBMA) once I start vet school this fall. 🙂

 

[SnowyRox]

My dad has an MBA (not involved in vet med) and concurs with what you've heard. He got the degree only because his company paid for the education, and the actual information isn't unique. You will have to do some intense self-study to learn the same amount, but it's definitely possible and you can avoid all the irrelevant coursework.

 

[sooprnova]

I'll echo what Snowyrox said. The only reason to get an MBA is if you go to a top 10 school (which you won't likely do since your career is vet med) or your employer pays for it. No point in paying for an MBA just to say "look! I read books about business, talked about them, then completed a project!". Get that experience hands-on, in the clinic. Learn from the owners and managers.

I know Penn has a course you can take to get a certificate in business. It basically focuses on finances, loans, credit scores, etc. Not sure if other schools do this, but it isn't a bad idea if it's included in your tuition. I wouldn't pay extra for it, though.

 

[orca2011]

I'll echo what Snowyrox said. The only reason to get an MBA is if you go to a top 10 school (which you won't likely do since your career is vet med) or your employer pays for it. No point in paying for an MBA just to say "look! I read books about business, talked about them, then completed a project!". Get that experience hands-on, in the clinic. Learn from the owners and managers.

I know Penn has a course you can take to get a certificate in business. It basically focuses on finances, loans, credit scores, etc. Not sure if other schools do this, but it isn't a bad idea if it's included in your tuition. I wouldn't pay extra for it, though.

I don't think Penn's program is included in the tuition and is a couple hundred dollars extra. And this is something I've been wondering about. I don't necessarily want to pursue an MBA, but I am worried about my lack of background knowledge in business, etc. I actually asked all the schools I interviewed at to see if they had a certificate program or if they offered electives in these areas and it seems most schools are starting to have to these options. Even Glasgow said they were in the works of getting something set up their business school I believe. I'd have to double check on that, but I believe that is what they said during my interview with them.

 

[SnowyRox]

None of the students mentioned Penn's certificate being extra $$$ b/c they don't charge vet students by the credit. I think their MBA program with Wharton is probably extra. Penn's certificate program isn't unique, but it's just well-advertised and more popular than at many other schools. One of the foci is on getting loans for a business while already having tons of student loans. So, while you could find that online, it's way easier having it already found and presented.

 

[orca2011]

Hmm, maybe I misunderstood then.

 

[sooprnova]

What Snowyrox said. I actually asked about the dual program with Wharton when I met with Mr. Keiter since my background is business, and he basically told me that unless I had lots and lots of money to spend in the program and then on opening a chain of my own name-branded clinics, it wouldn't be worth it. 🙂

 

[moosenanny]

One of our professors at Davis has his DVM and MBA (he was valedictorian of his MBA class). He opens and sells vet hospitals, and currently owns and runs a few of his own. He also runs our "soft skills"/business education coursework at Davis.

 

[August West]

One of our professors at Davis has his DVM and MBA (he was valedictorian of his MBA class). He opens and sells vet hospitals, and currently owns and runs a few of his own. He also runs our "soft skills"/business education coursework at Davis.

I hope I get to pick this guy's brain in the not-too-distant future. Have lots of ideas and questions. Last day of interviews, right?? 😎

 

[moosenanny]

I hope I get to pick this guy's brain in the not-too-distant future. Have lots of ideas and questions. Last day of interviews, right?? 😎

I am actually unsure of when the last interviews are. But if I happen to notice the lack of interview signage tomorrow, I'll try to remember to report back.

 

[August West]

I am actually unsure of when the last interviews are. But if I happen to notice the lack of interview signage tomorrow, I'll try to remember to report back.

I was basing my understanding on the information in the letter:

"Interviews will begin Wednesday, February 22 and will end Thursday, March 15. Interviews will be held Monday through Friday, 9 a.m.-noon and 1-4:00 p.m."

If you hear differently, please let us know. Thanks. Shouldn't be long now either way... 😀

 

[hopefulinva]

I'd love to get an MBA. I'm graduating with a BS in Business Management so MBA programs have been shoved down my throat for the last four years, and honestly, I don't think there's any way you could go wrong with getting one. Especially if you plan on opening or managing a clinic.

But, as others have mentioned, usually employers will field the cost once you get out into the working world.

VMRCVM doesn't have an MBA program but they do have a Veterinary Business Club; I would imagine most schools offer something like this. No degrees attached but I bet they can help you figure out how to get you on that path.

 

[shortnsweet]

http://www.vbma.biz/

A lot of schools now have a chapter of this, which if you attend a certain amount of lectures etc., you get a certificate?

Orca--I believe some 5th years are trying to establish a chapter of this at Glasgow, which may have been what Joyce is talking about?

 

[hopefulinva]

http://www.vbma.biz/

A lot of schools now have a chapter of this, which if you attend a certain amount of lectures etc., you get a certificate?

Orca--I believe some 5th years are trying to establish a chapter of this at Glasgow, which may have been what Joyce is talking about?

Oh sweet! I didn't know there was a certificate, that's nice of them. =)

 

[moosenanny]

Yeah, VMBA offers a certificate program. I'm completing it at Davis 🙂

 

[hopefulinva]

Yeah, VMBA offers a certificate program. I'm completing it at Davis 🙂

Aw that's neat. What kind of certificate is it? What are the requirements?

 

[moosenanny]

Depending on the level (gold, silver, etc.), you have to attend a certain number of VBMA (business-oriented) talks that fall into certain categories (finance, practice ownership, business management, employee management, and career path & preparation). Most of the talks that fulfill these requirements are lunch talks, but there are also special longer events at night, and an all-day symposium that counts towards accumulating hours in these topics (at least at Davis). I personally attend almost every VBMA event I can anyway, so might as well get credit for attending the talks/events and go for the certificate 🙂

 

[nyanko]

I was basing my understanding on the information in the letter:

"Interviews will begin Wednesday, February 22 and will end Thursday, March 15. Interviews will be held Monday through Friday, 9 a.m.-noon and 1-4:00 p.m."

If you hear differently, please let us know. Thanks. Shouldn't be long now either way... 😀

Actually heard an admin say today was the last day of interviews. So confirmed. 🙂

 

[bunnity]

I don't think Penn's program is included in the tuition and is a couple hundred dollars extra. And this is something I've been wondering about. I don't necessarily want to pursue an MBA, but I am worried about my lack of background knowledge in business, etc. I actually asked all the schools I interviewed at to see if they had a certificate program or if they offered electives in these areas and it seems most schools are starting to have to these options. Even Glasgow said they were in the works of getting something set up their business school I believe. I'd have to double check on that, but I believe that is what they said during my interview with them.

You are right. I think it's $600. It's during dinner time or on weekends, every few weeks. It seems to be about managing your own money, managing a clinic, issues with employees, etc. (I'm not taking the courses so that's about all I know about it).

 

[whompwhomp]

Thanks for all the info everyone! I received a certificate in business foundations in undergrad and I have been debating whether it would be useful or not to actually get the MBA, but it seems like there are better, more affordable ways to learn vet business.

 

[Ben and Me]

Penn's VBMA certificate program is $600 but (at least for my class), $300 will be refunded at graduation if you've completed the certificate requirements.

There are also several business electives that are available (at no extra cost) during your third year. They are Professional Foundations, Legal Issues for Veterinarians and Practice Management.

There is also an externship (for vet students at any school) with Live Oak Bank, a bank that provides loans for vets to build or buy practices. Jimmy, the vet school contact, is really friendly and nice - its definitely worth getting in touch with them if you're interested in business. Plus, they're based in Wilmington, NC so you'd get to chill at Wrightsville Beach! 🙂

 

[Ben and Me]

Also, there are two kids in the class above me doing a combined degree at Wharton, so it is definitely possible - just $$$!