PharmD/MBA

[Raszagal1045]

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Hi I have a few questions about this program:

How many of you are doing this dual degree program? Are the MBA classes on the weekend or evenings? Would it be smart to get a bachelours in Business before going into the program?

I believe the Business will help out in the future not only during pharmacy but afterwards as well...such as retirement or plans to open your own business, etc.

Thank you! 🙂

 

[SpirivaSunrise]

My school is just about to implement the dual degree program. I believe students are going to attend the pharmacy classes in the fall/winter, and then business classes in the summer.

 

[i.<3.pharmacy]

I really like the idea of dual degree because it will give you tons more options after graduation. It will definitely be something I consider.

 

[genesis09]

My school is just about to implement the dual degree program. I believe students are going to attend the pharmacy classes in the fall/winter, and then business classes in the summer.

That's what they do at UIC, but I believe you have to finish some classes after you graduate with the PharmD.

 

[ButlerPharm.D.]

At Butler the majority of your business classes are taken over the summer.

 

[DownonthePharm]

I would like to get my MBA because I would like to run my own business(es) one day. But my school doesnt have a duel program, so I will probably go to one of the local universities that has a night/weekend MBA program after I graduate in my off time from work.

 

[morbidoblivion]

my school- university of sciences in philadelphia(USP)- just started offering the dual degree. USP offers a six year pharmacy program and the business classes are taken side by side. I would have to take as many electives and other required classes for the pharmacy program over the summer, so that I would be able to take business classes over fall and spring semesters. This is because USP doesnt have too many people enrolled into the pharmaceutical MBA program so there are very few business classes offered over the summer

 

[bananaface]

A former neighbor of mine (RPh not PharmD) who was in hospital management for 25 years told me that pharmacists with an MBA are very sought after in many areas of pharmacy. In his opinion it was the best way to increase your earnings potential. He currently researches and coordinates buyouts for one of the major distributors and takes home 2.5 times what he did as hospital pharmacy manager. He also works in the same office building as his wife and takes his dog to work everyday.

 

[BiOGoly]

who was in hospital management for 25 years.

I'm a bit skeptical of the good ol' MBA being the turnkey for riches and the good life. If your neighbor is doing well I think it's quite possible that his long hard quarter century slog through hospital management might have more to do with his current success than a more or less token academic degree. Don't get me wrong, an MBA (particularly a top 10 program) can be very valuable in some lines of work...if fact necessary for further advancement in certain government agencies and corporate heirarchies. But, an MBA is no substitute for real world experience and without some business management background to bring to the table during case studies and analysis, you're not going to get much benefit for your $60k tuition. As far as I can tell an MBA isn't needed to get into pharmacy management; there's just not that much competition. An extra $20k a year for 5X the stress? Most say no thanks. You literally can't pay people to take the job.

You don't need an MBA to do a Cost Benefit Analysis and my CBA of the MBA leads me to believe it has limited ROI.

 

[bananaface]

He would not have been a candidate for his current position without both the formal business training of his MBA and his extensive practical business management experience.

The nice thing about the pharmacist/MBA combo is that it can fast-track you up the management ladder, by offering you skills that you won't have if you are simply a PharmD. Promotions are skill based. If you come in with a better skill set, you are naturally going to move up faster.

 

[Smilescali]

I would like to get my MBA because I would like to run my own business(es) one day. But my school doesnt have a duel program, so I will probably go to one of the local universities that has a night/weekend MBA program after I graduate in my off time from work.

I am considering this option as well. USN offers a dual degree, but I am still unsure if I want to do both at the same time. My best friend is going to USC to complete her MBA and it seems very doable. This makes me think that if USC is not that horrific, then maybe I should just go for it at USN( with the PharmD/MBA degree.) I don't have to make a decision until my second year at USN.

My husband also wants to get his MBA, but he is not in the position to do it right now with his job so I have to take that into conideration as well..... 🙂