MD/MBA at state school or MBA at top tier business school after residency?

[MambaMentality#416]

Hello,

I am currently at a mid-tier public MD school that offers an MD/MBA program. The MBA program is not as notable as MBA programs from other institutions such Harvard, UPenn, Stanford, etc. Should I apply for the MD/MBA program at my school or should I apply for an MBA program at a top tier business school after my residency? The benefits of the MD/MBA program is that I do not have to take the GMAT, it is only 12 months, and I am pretty much guaranteed an acceptance into the program. The benefits of going to a top tier university after residency for my MBA would be the value that their name carries and all the opportunities that would come with that. I currently do not know exactly what I want my future to look like, but I do know that I would prefer to be in a managerial position rather than practice as a clinician long term. I hope someone can help. Thank you!

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[Developer]

Given that you see yourself wanting to be in a managerial position, I’d say go for the MBA at a top program. You’re more likely to be able to establish connections with high profile executives and others in leadership positions which could help you make your way into the managerial position you seek. Business school is different than medical school in that name/prestige of top programs tend to carry much more weight in the eyes of hiring managers and other executives. Of course, all of this is meaningless without experience—you need to prove your value for executive positions, you won’t get hired just because you have the MBA under your belt.

 

[Dr. Doctor MD]

Name matters for MBA and almost always the good ones want people with 4-6 years work experience, especially to make the most out of the program. Doing it after residency would be much more useful as far as integrating it with your knowledge of the healthcare system, making the useful connections, and getting the boost from the much higher prestige. I would wait until after residency and many of the top ones have night/weekend programs too since they know the best people are already working.

In general, the one year MBAs that most every business school offers aren't really worth much in my personal opinion.

 

[TAVR4life]

Just keep in mind that if you do MBA after medical school at a top institution the tuition is easily $150,000+ plus living expenses for a Masters that you technically do not need. Plus the 1-2 years of lost revenue ($200,000-$400,000 per year depending on speciality in lost revenue) for full time programs. If you go the eMBA route at a top institution like Wharton it’s easily going to cost you $200,000 in tuition alone..again for a Masters. Not a very good business decision for a business minded person...

 

[Lawpy]

correct me on this but i thought there are some residencies that pay for MBA?

 

[Med Ed]

Hello,

I am currently at a mid-tier public MD school that offers an MD/MBA program. The MBA program is not as notable as MBA programs from other institutions such Harvard, UPenn, Stanford, etc. Should I apply for the MD/MBA program at my school or should I apply for an MBA program at a top tier business school after my residency? The benefits of the MD/MBA program is that I do not have to take the GMAT, it is only 12 months, and I am pretty much guaranteed an acceptance into the program. The benefits of going to a top tier university after residency for my MBA would be the value that their name carries and all the opportunities that would come with that. I currently do not know exactly what I want my future to look like, but I do know that I would prefer to be in a managerial position rather than practice as a clinician long term. I hope someone can help. Thank you!

What do you want to do with the MBA? If your goal is to enhance your business acumen as a practicing physician then the MD/MBA is more than sufficient and a far better option. If your goal is something much larger with respect to the business component then it may be worthwhile to go to a higher ranked program and gain the networking that comes with it. But as @TAVR4life pointed out these programs are not cheap.