Thoughts on: (A) 1-year MBA... (B) between 3rd-4th year

[pachewisc]

Hey everyone,

I'm an M1 (now an M2 as of fall 2014) at an MD school. When applying to medical school, I aimed to get into a school with an MD/MBA program, but it didn't happen (oh well). Trying to look on the positive side, I was thinking about getting an MBA between 3rd and 4th years from a 1-year MBA program. This means I would still graduate in 5-years like the typical MD/MBA. I already talked with my school's administration, and they're completely fine with and supportive of the idea.

I came to med school directly from undergrad, where I earned a Minor in Business. I have some work experience as a student leader and >2years of part time research. I'm beefing up my "business application" in medical school through lots of experience and leadership, and I plan on taking the GMAT this summer (update: scored >700). Despite all this, I still presume my biggest drawback when applying will be my lack of "true business experience." That being said, I'm hoping things pan out and I can get into one of the better 1-year MBA programs.

What I'm wondering is:

1. Does anyone have any experience going this route? How do independent MBA programs view an MD student relative to the average applicant?
2. Would between 3rd and 4th year be the best time? I figured getting it after 4th year would make matching a mess, and after 2nd year would make the transition into 3rd year very challenging.
3. Any other thoughts, advice, etc.?

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[cognitus]

Hey there,

Maybe I can help with some of your questions.

1. Can't help there. I am a typical MD/MBA who graduated in 5 years.
2. I think taking the MBA classes between third and fourth years are ideal. I finished my third year in June. I did a 4th year elective in July. I took Step 2 CK in August and started business school that month. I was fully in business school for the fall semester. There was a month break between the fall and spring semester and I used that time to do another 4th year elective. I then completed my spring MBA semester. During the summer, I completed a 10 week business internship. I then completed the remaining of my 4th year electives in the fall. In the following spring, I finished business school.
3. Kick ass on the GMATs!

 

[pachewisc]

Hey there,

Maybe I can help with some of your questions.

1. Can't help there. I am a typical MD/MBA who graduated in 5 years.
2. I think taking the MBA classes between third and fourth years are ideal. I finished my third year in June. I did a 4th year elective in July. I took Step 2 CK in August and started business school that month. I was fully in business school for the fall semester. There was a month break between the fall and spring semester and I used that time to do another 4th year elective. I then completed my spring MBA semester. During the summer, I completed a 10 week business internship. I then completed the remaining of my 4th year electives in the fall. In the following spring, I finished business school.
3. Kick ass on the GMATs!

Thanks a bunch for a response!

I'm glad to hear that the M3/M4 break worked well for you. I'll likely have to take Step 2 in June after 3rd year instead of August like you did, but that shouldn't pose too much of a problem (at least our deans didn't think it would). Unfortunately I won't have an internship, which is biggest pitfall of the 1-year programs, but I presume it shouldn't hurt me too much in the long run.

Haha I'll put in the hours and (hopefully) kick butt on the GMAT this summer!

 

[noshie]

Not sure I can answer your questions, but I may have a different perspective on getting your MBA. I also had applied and interviewed for an MD/MBA program prior to my acceptance to med school and even though I did not get into that dual program I have always wanted my MBA. I am a current fourth year DO student, and in third year I decided it was time to get my MBA in Health Management. I applied for a program that I felt I would be able to do online (it is technically a 2 year program, but I only need 36 hours of courses to complete it, and it does not have an internship component), and started taking a few courses during my third year rotations (6 to 9 hours a semester). I should be getting my degree a month after I get my DO in May, and this will definitely be before residency starts. I really don't feel like taking a break in between med school is beneficial for your residency applications, and I don't think its that hard to juggle the clinical years with the online MBA courses. The program directors I have met so far have felt like this is a positive in my application and it can really be very impressive when you do them concurrently. It shows that you have the ability to juggle two difficult programs at once... Which I have definitely highlighted in my residency application and when I meet with program directors/residency programs. I mean, anyone can get an MBA if they want to... but who gets an MBA when they are also getting their MD/DO. Not many people do this without a dual program making all of their courses work together for them...

 

[PistolPete]

Out of curiosity, for those of you getting your MBA's in addition to MD/DO, do you also plan on going into residency? If not, what kinds of jobs are you looking to get into?

 

[pachewisc]

Not sure I can answer your questions, but I may have a different perspective on getting your MBA...

Noshie, I really appreciate the input. I toyed around a bit with the idea of getting an online MBA, but my understanding is that the networking and experience gained through the MBA are highly valuable (potentially more so than the classes). Also, unlike medical degrees, getting your MBA at a "top program" carries a lot of weight in the business world. After doing well on the GMAT, I think I'm going to aim high at some of the strongest 1-year programs. That way I can devote 100% of my attention to clinical years, and then 100% of my attention to the MBA.

Having said all that, I think it's very impressive that you're doing them both simultaneous. I can definitely imagine that residency programs look highly upon it. Best of luck as your round out both your 4th year and your MBA!

Out of curiosity, for those of you getting your MBA's in addition to MD/DO, do you also plan on going into residency? If not, what kinds of jobs are you looking to get into?

Pete, I plan on going on to residency and practicing medicine. In the long run I plan on filling a hospital administrative role. I can speak to one person in my med school class who planned on getting the MD and forgoing a residency to become an entrepreneur, but after getting an internship after M1 year he/she dropped out to continue working for the company.

 

[freemontie]

I would give my left nut if you got into Kellogg 1-yr. Not going to happen buddy, even with an 800 on the GMAT.

You have zero work experience and work-place accomplishments. That's 90% of the b-school application (given an ok academic profile). There's a reason why even Harvard Business school has an average GPA of 3.66. They admit people will amazing work experiences/resumes, people that naturally will tend to have high GPAs- yet still it's only 3.66. Meaning? They don't care about your academics- including your medical school accomplishments. Top work experience (high level of responsibility at a young age, early promotions, leadership and initiatives in business) is what gets people in (which is why they even employ a very different kind of background check that verifies your work experience closely). There are exceptions, but in 99% of cases.

 

[pachewisc]

I would give my left nut if you got into Kellogg 1-yr. Not going to happen buddy, even with an 800 on the GMAT

Thanks for your opinion and testicular offer. I'll keep that in mind when applying.

 

[cognitus]

Thanks for your opinion and testicular offer. I'll keep that in mind when applying.

If you already go to Northwestern for med school, then I think getting into the MBA program is manageable

 

[pachewisc]

If you already go to Northwestern for med school, then I think getting into the MBA program is manageable

I don't go to NW, though my GPA and GMAT are both higher than every 1-year program's averages, including Kellogg.

I think it's important to note that I don't need to go to Kellogg. I already have a boatload of debt, so my decision will balance finances with prestige. I'd rather go to ND or Emory (both very good 1-year programs) on scholarship than spend $115,000 for one year at Kellogg. Based on my GMAT, a Top 40 school already offered me a scholarship. Also, a friend of mine who scored the same on the GMAT got a 50% scholarship to ND's 1-year MBA straight out of undergrad with minimal/zero work experience.