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11 May 2011, 11:04
Kudos
Bookmarks
I am currently a pharmacy student and have always planned on getting a top tier MBA after school and a few years of work experience, but now I am seriously thinking about my school's PharmD / MBA dual degree. I talked with the director yesterday and he said that I should be able to complete both easily in my remaining time, and that I am not too late to start if I complete a three week intensive prerequisite course this July. I would automatically be admitted, and my PCAT scores would replace the GMAT. Tuition would be an extra $17k (ballpark).
Problem is, I've heard that an MBA is worthless without work experience or not from a top 20 school. My university is known for its pharmacy program but our MBA is low tier.
Alternatively, I can graduate and go for a better ranked MBA in the future. I am from NC so I was thinking about Duke Fuqua's Health Sector specialization MBA or UNC's Kenan Flager (or Wharton, Harvard, etc. if I can even get in). The cons to this is that I'd have to balance work, school, family, potentially moving out of state, and pay a ton more money later, while now I can knock out the MBA as a full time student and for cheaper.
My career goals are to go into the military then VA. I want to eventually become an administrator but have no wish to become a CEO of a major hospital or pharmaceutical company. I am also dabbling in the idea of opening an independent pharmacy sometime in my career. But definitely "pharmacist first, businessman second" kind of mentality.
My biggest concern here is name recognition. My school's MBA cannot compete with Stanford or Kellogg. But if my wish is to compliment my PharmD and not rise the ranks of a fortune 500 company, then does the name matter as much for a clinician? Especially if I can knock it out now and for cheaper?
Cliffs:
-Pharmacy student looking into my school's dual MBA, low ranked.
-Dual MBA at my school is roughly $17k and can be finished by the time I graduate, no GMAT required.
-Career aspiration is to be a mid level administrator/manager and possibly entrepreneur.
-Or should I wait and try for a higher ranked MBA later after graduation and work experience?
Which should I choose? Thanks for any input.
Problem is, I've heard that an MBA is worthless without work experience or not from a top 20 school. My university is known for its pharmacy program but our MBA is low tier.
Alternatively, I can graduate and go for a better ranked MBA in the future. I am from NC so I was thinking about Duke Fuqua's Health Sector specialization MBA or UNC's Kenan Flager (or Wharton, Harvard, etc. if I can even get in). The cons to this is that I'd have to balance work, school, family, potentially moving out of state, and pay a ton more money later, while now I can knock out the MBA as a full time student and for cheaper.
My career goals are to go into the military then VA. I want to eventually become an administrator but have no wish to become a CEO of a major hospital or pharmaceutical company. I am also dabbling in the idea of opening an independent pharmacy sometime in my career. But definitely "pharmacist first, businessman second" kind of mentality.
My biggest concern here is name recognition. My school's MBA cannot compete with Stanford or Kellogg. But if my wish is to compliment my PharmD and not rise the ranks of a fortune 500 company, then does the name matter as much for a clinician? Especially if I can knock it out now and for cheaper?
Cliffs:
-Pharmacy student looking into my school's dual MBA, low ranked.
-Dual MBA at my school is roughly $17k and can be finished by the time I graduate, no GMAT required.
-Career aspiration is to be a mid level administrator/manager and possibly entrepreneur.
-Or should I wait and try for a higher ranked MBA later after graduation and work experience?
Which should I choose? Thanks for any input.
11 May 2011, 19:53
Kudos
Bookmarks
I think you've presented the most classic example, or rather, dilemma.
I will present my opinion here. At this point in your life, I don't think the MBA will do you any good. One downside of these joint programs is that it automatically "forces" students to think that the MBA is a great investment to do, all the while getting your Pharm.D. However, one key factor that students miss to see is "why MBA and why now?" Why do you think you'll need an MBA right now? Or even, why an MBA in the first place? Given your aspirations, I really don't think you'd need this MBA at this point of your life. You've already gone through the practice to become a pharmacist, why spend an extra $17k on another degree that's just going to sit there on a pedestal? I'd say that if you truly have a desire for an MBA, you can go for it later on your life, but even then, given your aspirations to what you want to do, I'm not sure if you really need an MBA to succeed. If I were you, I'd finish the pharm.d. degree for now and start working. Then while you're working, you can start researching on what an MBA is and how it may help you. Once you've done your research, then really consider if it's worth it to spend the money to pursue an MBA.
The above is simply opinion, based on my knowledge of what an MBA is and what it can do for you. Please don't let my opinion change your life idea. Ultimately, you'd have to weigh the pros and cons and really make that decision for yourself.
I will present my opinion here. At this point in your life, I don't think the MBA will do you any good. One downside of these joint programs is that it automatically "forces" students to think that the MBA is a great investment to do, all the while getting your Pharm.D. However, one key factor that students miss to see is "why MBA and why now?" Why do you think you'll need an MBA right now? Or even, why an MBA in the first place? Given your aspirations, I really don't think you'd need this MBA at this point of your life. You've already gone through the practice to become a pharmacist, why spend an extra $17k on another degree that's just going to sit there on a pedestal? I'd say that if you truly have a desire for an MBA, you can go for it later on your life, but even then, given your aspirations to what you want to do, I'm not sure if you really need an MBA to succeed. If I were you, I'd finish the pharm.d. degree for now and start working. Then while you're working, you can start researching on what an MBA is and how it may help you. Once you've done your research, then really consider if it's worth it to spend the money to pursue an MBA.
The above is simply opinion, based on my knowledge of what an MBA is and what it can do for you. Please don't let my opinion change your life idea. Ultimately, you'd have to weigh the pros and cons and really make that decision for yourself.
