PharmD/MBA discussion

[heroicvagabond]

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I've seen a few of these threads, but nothing recent so I just wanted to discuss this topic as it may change my decision in pharmacy schools.

What is the outlook on getting a PharmD/MBA dual degree. I do understand some of the pros and cons, such as more time, cost, and job opportunities. However, looking at the job market in 4-6 years, how much will a pharmD student with an MBA degree stand out.

My reason for the pursuit is the flexibility in jobs. I am afraid that after a few years in the pharmacy profession I will get complacent and want to change jobs and having an MBA is nice on the side to help develop some other marketable skills. What are your thoughts?

 

[kcwang]

The way I see it, if you have a good business plan related for health profession, and you are itching to start your own company, pharmD/MBA is a path you might want to take. Most people with pharmD/MBA I have met already have a clear picture of what they want to do with the degrees.

Just my 2 cents =P

 

[DrDrugs2012]

I've seen a few of these threads, but nothing recent so I just wanted to discuss this topic as it may change my decision in pharmacy schools.

What is the outlook on getting a PharmD/MBA dual degree. I do understand some of the pros and cons, such as more time, cost, and job opportunities. However, looking at the job market in 4-6 years, how much will a pharmD student with an MBA degree stand out.

My reason for the pursuit is the flexibility in jobs. I am afraid that after a few years in the pharmacy profession I will get complacent and want to change jobs and having an MBA is nice on the side to help develop some other marketable skills. What are your thoughts?

Just remember to identify which of the degrees is your 'primary' degree. Are you making the PharmD the adjunct to the MBA or the other way around? That will help you tailor your curricular and extracurricular choices to the career path you seek.

But as the previous poster stated, its probably a good idea to at least go into the dual degree with an idea for what you want to accomplish with the dual degree.

 

[ACE Rx]

I've seen a few of these threads, but nothing recent so I just wanted to discuss this topic as it may change my decision in pharmacy schools.

What is the outlook on getting a PharmD/MBA dual degree. I do understand some of the pros and cons, such as more time, cost, and job opportunities. However, looking at the job market in 4-6 years, how much will a pharmD student with an MBA degree stand out.

My reason for the pursuit is the flexibility in jobs. I am afraid that after a few years in the pharmacy profession I will get complacent and want to change jobs and having an MBA is nice on the side to help develop some other marketable skills. What are your thoughts?

Usually, an MBA is only good if you already have something in mind for it (independent pharmacy, industry, etc.). That is why many standalone MBA programs usually require some work experience before applying into the MBA program.

 

[heroicvagabond]

I don't have a position in mind at the moment; however, I do know that I want to be moving up in my job rather it be management or administrative. I just don't want to have to go back to school in 10 years after hitting a limit with my pharmD.

 

[DrDrugs2012]

Well the problem with doing the dual degree right now is that if you don't have experience to know what you need to get out of the MBA, you won't get the right experience in the program. Half of graduate school, especially the MBA, is about the networking opportunities and experiential options which are opened to you as a result. And not every MBA program is made equal for academic, experiential and networking opportunities.

Its FAR better for you to go to work and have the company pay for your MBA later. You'll be much more valuable employee. The last thing you want is to complete an MBA now... only to have the company want you to do some executive coursework later.

 

[heroicvagabond]

Well the problem with doing the dual degree right now is that if you don't have experience to know what you need to get out of the MBA, you won't get the right experience in the program. Half of graduate school, especially the MBA, is about the networking opportunities and experiential options which are opened to you as a result. And not every MBA program is made equal for academic, experiential and networking opportunities.

Its FAR better for you to go to work and have the company pay for your MBA later. You'll be much more valuable employee. The last thing you want is to complete an MBA now... only to have the company want you to do some executive coursework later.

What kind of companies do you work for with a PharmD that would want you to have an MBA?

 

[DrDrugs2012]

All companies? Community, hospitals, managed care, regulatory, pharmaceutical industry, policy and advocacy. All of the above. The idea of an MBA is to give you the financial management, accounting, business critical thinking and leadership skills to lead an organization big or small. In today's complex business environment, business decisions are not as cut and dry as "if sales > costs, good."