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pharmacists with MBAs
- Thread starter aptekmies
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aptekmies said:
Some people at my school already have them from prior schooling. We call them "assistant professors".
PharmD/MBA can certainly propel you to management or industry easier than PharmD alone. 1 extra year is worth it. I don't have an MBA but no regrets.
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If you want to manage a retail pharmacy, you can do so easily without an MBA. To get into hospital administration or to move further up a retail corporate ladder, an MBA is very helpful. A neighbor of mine is a BS Pharm/MBA and after working as a hospital admin for 25 years he moved into the private sector. He said that there are not many with a pharm degree and an MBA, so it makes you a much more sought after commodity.
aptekmies said:
Back when I was in school, I did a pharmacoeconomics rotation at the VA. According to the preceptor there, it is a growing specialty and having an MBA makes it a lot easier to get in to. Aside from the VA, however, I think the only other people utilizing these RPh's are managed care folks and PBM's (the enemy).
I don't think the salaries are really any better than any other practic field, but I imagine the working conditions are better.
I am going to get MbA. I think its totally wroth it. Its faster and easier to get into the management position. I think theres 5-15k pay increase depending where you work at and at what position.
P
PharmDapplicant
does it matter at which school you get the MBA from?
Feel free to email me at: [email protected] if you have questions about getting a PharmD/MBA.
I'm a current PharmD/MBA student at the Univ. of the Pacific.
Pete
I'm a current PharmD/MBA student at the Univ. of the Pacific.
Pete
Is it worth it to spend an extra year of school or are there regrets? Any feedback on this would be appreciated.[/QUOTE]
wow, one extra years isn't bad at all. another option is you can wait until your done w/school and have the company you work for pay for it while you're attending school part-time. of course, that'll take much longer to complete your mba about 3 years.
it can definitely help you if you go to a highly ranked program. remember: networking is the key (sometimes) in propelling your career. when i get my mba i'm going to remain in the city i currently reside and i don't care how highly it's ranked. all in all the curriculum is the same for each MBA program, but the difference is the career resources/recruiting and networking w/their alums.
that's quite shocking to hear someone had to take a $28K position after receiving their MBA. usually, your salary increases substantially.
wow, one extra years isn't bad at all. another option is you can wait until your done w/school and have the company you work for pay for it while you're attending school part-time. of course, that'll take much longer to complete your mba about 3 years.
PharmDapplicant said:
it can definitely help you if you go to a highly ranked program. remember: networking is the key (sometimes) in propelling your career. when i get my mba i'm going to remain in the city i currently reside and i don't care how highly it's ranked. all in all the curriculum is the same for each MBA program, but the difference is the career resources/recruiting and networking w/their alums.
J Lucas said:
that's quite shocking to hear someone had to take a $28K position after receiving their MBA. usually, your salary increases substantially.
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lazydazy said:
My husband had to take a 32K position with an MBA after looking for over a year for work. He was actually overqualified for some higher paying jobs... people assumed that the MBA meant he would want too much money, so he was passed over for interviews in favor of people with just a BS or BA + experience. He had a few options out of state, but not paying much more than that, not worth a move. Of course this was immediately after Sept. 11, 2001 when he graduated,... businesses weren't hiring much at that time and really continued to hold off on new employment offers until the past year or two. Probably even more so where we live, which though home to 100,000+ people, is a little backwoods/behind the rest of the country economically... everything here seems like it is on a 1 year delay.
Most of the others in his class also had to take rather low paying jobs for MBA. But now that he has some experience and the economy looks better he will be better off for the future.
Just a word of advice for MBA students-- Don't expect to come straight out of school with an MBA and start making the big bucks... that's a pipe dream that is really indulged (for some reason) in business schools. Be realistic. It's probably still worth it, but don't expect instant gratification.
