Question about dual PharmD/MBA

[Chemicals]

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I have recently read that some pharmacy schools offer a dual MBA/PharmD degree program...

But isn't MBA a 6 year degree? I thought you had to get a bachelors of business before obtaining an MBA?

If thats the case....How could you possibly fit a 6 year degree + 4 year professional degree into a 4 year period???

I know i must be missing something here

 

[Jabberwocky12]

I have recently read that some pharmacy schools offer a dual MBA/PharmD degree program...

But isn't MBA a 6 year degree? I thought you had to get a bachelors of business before obtaining an MBA?

If thats the case....How could you possibly fit a 6 year degree + 4 year professional degree into a 4 year period???

I know i must be missing something here

A lot of schools are willing to bypass a bachelors in business/pre-reqs since you learn of business in pharmacy school.

Wingate university, for example, in NC offers a dual PharmD/MBA where if you don't have the required classes they will offer a class that teaches you the basics. And you don't have to take the GRE, the PCAT will suffice, you get some classes that count for both, etc.

So basically since it is a dual degree that cut you some slack on the pre-reqs for the business aspect. And then they get more money! Everybody wins.

 

[BrandonUK03]

I have recently read that some pharmacy schools offer a dual MBA/PharmD degree program...

But isn't MBA a 6 year degree? I thought you had to get a bachelors of business before obtaining an MBA?

If thats the case....How could you possibly fit a 6 year degree + 4 year professional degree into a 4 year period???

I know i must be missing something here

If you go PharmD/MBA at the start of the PharmD program, you usually just add an extra 1 year to 1.5 years onto the program for a total of 5-5.5 years for dual degree program (MBA and PharmD). Most programs will require you to have some pre-reqs but not a business degree. Class like micro and macroecon, accounting 1 and 2 and a few other basic undergrad business classes. I have my PharmD and looked into going back to get my MBA and its kind of a hassle right now. Need a few more pre-req classes (would have to take at night), then I have to apply to the program by getting transcripts from undergrad and pharm school, letters of recommendation, GMAT exam etc. Its a night program that takes about 2 years for $31K total. I'm still weighing the option.....grrr

 

[R2pharmD2]

At my school, a portion of the MBA curriculum is fulfilled by PharmD requirements and vice versa. We can actually do both degrees in the same 4 year time frame as just a PharmD, but it takes some extra summer classes. I don't know all of the details, but I'm guessing it's a pretty substantial amount that's done during the summers.

 

[BrandonUK03]

I have recently read that some pharmacy schools offer a dual MBA/PharmD degree program...

But isn't MBA a 6 year degree? I thought you had to get a bachelors of business before obtaining an MBA?

If thats the case....How could you possibly fit a 6 year degree + 4 year professional degree into a 4 year period???

I know i must be missing something here

I would also be cautious about some of the MBA programs out there. If you're going to do it, do it at a legit program. A lot of random schools offer "distance learning" and I know someone that did such a program and was thoroughly embarrassed at an interview that drilled him on some topics he should have known but was never taught through that MBA program. Just like everything else, MBAs are a dime a dozen these days.

 

[Jabberwocky12]

The MBA is a degree similar to law where the school you get it matters almost as much as the degree.

However, it also has been established by some people with experience (i.e. It's Z) that the school you get the MBA from matters less when it is used in conjunction with a PharmD since the MBA is no longer the "foundational" degree you use for credentials. So yeah, distance learning might be a little iffy but don't be all wrapped up in the name of the school

And yes, the MBA does tack on extra time for the degree track. I should have mentioned that as well.

But some places have different pre-reqs than others for the joint degrees so make sure you get them done for the schools you want to go to. It can be a pain doing pre-reqs for multiple schools for both pharmacy and business.

 

[DYSF777]

But isn't MBA a 6 year degree? I thought you had to get a bachelors of business before obtaining an MBA?

If thats the case....How could you possibly fit a 6 year degree + 4 year professional degree into a 4 year period???

I know i must be missing something here

MBA is a two year degree post baccalaureate. So yes you must have a bachelor's degree prior to enrolling in an MBA program.

Some courses you take in pharmacy school will apply towards your MBA with the remaining courses to be taken in either the fall/spring/summer semesters.

 

[Argentium]

As someone who wants to go into industry, I'll share some thoughts on the 7 year MBA/PharmD program Rutgers has recently begun offering (2 yrs undergrad/4 yrs PharmD/1 yr MBA [summer/fall/spring]).

Some things to consider:

• Like someone said, the name of the institution you go to matters quite a bit. Going to an ivy league opens so many more doors for a PharmD in industry.
• How much is an MBA worth with no work experience?
• 2 Year Rutgers Industry Fellowship vs MBA Program placement into Industry
• Are you "pricing yourself out" of entry level positions with a PharmD/MBA?
• Are you also not considered for management level positions because you have no work experience and only degrees?

food for thought

My thoughts ...
(1) Getting an MBA from a brand name institution gives you instant credibility, a strong network, and the opportunity to work at firms that only recruit at the top b-schools in the world (promotion/leadership development fast tracks)
(2) I've heard over and over that an MBA with no work experience is worthless. With that said, the average age of people getting an MBA is getting lower and lower. Is rotational experience real experience? I'm inclined to say no. Since the PharmD/MBA is accelerated, you also don't have the opportunity to do MBA internships during the summer.
(3) Hard to say which would place better .. a PharmD/MBA or a PharmD+Fellowship. Exiting the Rutgers Fellowship, people always land manager/senior manager positions. Not sure about the MBA program yet since no one has graduated.

 

[GamecockPharmD]

I'm considering working towards an MBA in the next couple of years. I think the distance learning route is OK as long as you get it from a real school. Make sure it is AACSB accredited and regionally accredited. I definitely wouldn't try to get one from University of Phoenix because that just screams distance learning. I would go with UF or something like that. I might do mine through Mississippi State.

 

[PharmD RPh]

I'm considering working towards an MBA in the next couple of years. I think the distance learning route is OK as long as you get it from a real school. Make sure it is AACSB accredited and regionally accredited. I definitely wouldn't try to get one from University of Phoenix because that just screams distance learning. I would go with UF or something like that. I might do mine through Mississippi State.

How are you thinking about putting your PharmD/MBA to use when you get it?

I was thinking for myself more along the lines of using to help run a family business or entrepreneurial type activities.

 

[Jabberwocky12]

How are you thinking about putting your PharmD/MBA to use when you get it?

I was thinking for myself more along the lines of using to help run a family business or entrepreneurial type activities.

Also useful for when trying to get into an administrative role in a hospital or into higher management in retail as well, like DM level.

 

[Maximum404]

Perfect timing on this thread as I am looking at doing the PharmD/MBA at VCU over the course of the normal 4 years. I am really not sure what I am going to do at this point. I'll be registering for the GMAT shortly, but thats all I have planned so far. I am hoping that when I contact the program advisor next week I can get a good sense of the benefits vs. time in class. Luckily a huge number of the classes for this program double count and summer classes are easy to get.

It has been mentioned a couple times off hand, but I am hoping for a more robust answer as to the marketability of a fresh PharmD/MBA student. I have 4 years of management of 20-45 people in various dynamic settings Thoughts?

 

[VCU2011]

Perfect timing on this thread as I am looking at doing the PharmD/MBA at VCU over the course of the normal 4 years. I am really not sure what I am going to do at this point. I'll be registering for the GMAT shortly, but thats all I have planned so far. I am hoping that when I contact the program advisor next week I can get a good sense of the benefits vs. time in class. Luckily a huge number of the classes for this program double count and summer classes are easy to get.

It has been mentioned a couple times off hand, but I am hoping for a more robust answer as to the marketability of a fresh PharmD/MBA student. I have 4 years of management of 20-45 people in various dynamic settings Thoughts?

PM me any questions you have, i'm in the last 3 months of the PharmD/MBA program at VCU

 

[GamecockPharmD]

How are you thinking about putting your PharmD/MBA to use when you get it?

I was thinking for myself more along the lines of using to help run a family business or entrepreneurial type activities.

I'm thinking along the lines of entrepreneurship. I know I don't absolutely need an MBA for that, but I would feel more comfortable having some business education. I feel like it would help give me more options too. Nothing replaces experience, but I feel like combining that experience with a business degree would be pretty appealing. I've only been licensed as a pharmacist for about 5 months. I'm probably going to wait about 2 years before I pursue an MBA.

 

[R2pharmD2]

It might be overkill, but at this point pursuing a dual degree could be beneficial to make sure you can find some type of employment following graduation. I probably wouldn't bother if I didn't have the option to pick up the second degree in the same amount of time as my PharmD, but I would think that having that extra business education would make you more appealing for retail jobs at least. I'm not quite as pessimistic about the future pharmacy job market as some on this board, but if things really do get bad, having that extra credential will probably give you an edge over other new grads.