PharmD/MBA?

[4ceofsp4des]

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So I've been trying to do some research into possible careers for a PharmD/MBA to see if I should commit to the program offered at my school.

There's a huge financial commitment since pharmacy school is only around $20K/year for 4 years, but if I do the PharmD/MBA, it will be 20K/year for 3 years and then ~40K/year for 2 years. Plus, summers are wasted taking classes, etc.

Anyways, my question is what are some possible career opportunities for PharmD/MBAs? I've only been able to think of health care administration careers and even then it seems like salary is based on your management experience...so I dunno if the MBA would necessarily give you a legs up if you were job hunting right out of school. I'm trying to determine other job options + the salary difference it would make. PharmD's typically make ~110K/year, so if the dual degree would only make slightly more, I'm not too inclined to get it I guess...but if salary and opportunities are a lot more...then...well...🙄 [once again if someone could give me an idea with numbers and examples, this would be great]. I've been talking with so many people/searching old threads/current pharmacists and they all either didn't know or wasn't sure.

Any thoughts? a PM would be awesome 😀 Help is appreciated, thanks!🙂

 

[4ceofsp4des]

I should probably also mention that I will start school this fall. I have a few years to think about it before committing but I'd at least like to get an idea of what things lie ahead. I talked to the dual degree director and he was at a loss too since only 1-2 people did this in the past 🙁

 

[michaelrack]

I talked to the dual degree director and he was at a loss too since only 1-2 people did this in the past 🙁

that's not a good sign

 

[4ceofsp4des]

that's not a good sign

^ That's what I thought 😛 though I'm willing to give them the benefit of the doubt by researching some more.

Anyways, anyone have any thoughts? 🙂

 

[turquoiseblue]

MBA is a useless degree in the medical world. i have one and haven't found any use for it, haven't found a job with it either. go for anything but that. Good luck.

 

[DrJosephKim]

Many PharmDs who enter the pharma/biotech industry end up pursuing MBAs so they can obtain higher positions in management. Salary figures in those positions exceed what a retail pharmacist can make, so you have to ultimately consider your long-term goals and career ambitions. Otherwise, you can always pursue your MBA later in your career (and many companies will also pay for it).

 

[rperez]

I'm going to be a P2 this coming fall and my school offers the dual degree. I decided to do it since it's free and I'm hoping to find a use for it later. If anything, I still plan to work as a pharmacist but perhaps the MBA will help me with my other business ideas? In anycase, if it is offered for free at your school also with the pharmD, then I'd do it... but that's just me.