Pharm D w/ MBA

[Saisri_PharmStdnt]

I'm thinking I might do the dual track of Pharm D w/ the MBA to position myself better.

I'm already working for a PBM, I'm staying employed through school, but with a lesser schedule. So, I'm thinking this will help me move up later.

Thoughts?

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[NextStepTutor_4]

Hi @Saisri_PharmStdnt! Good question! I remember on our very first day of pharmacy school, they asked us if anyone knew what we wanted to do once we graduate. Only one person raised his hand and they told us to be open to our choices. As you navigate through pharmacy school and through your required rotations, you will see many more aspects of pharmacy that you wouldn't have initially expected. The MBA could be a track you end up wishing to pursue though it may require a year or more of additional education. It is also a good idea to contact your school about PharmD/MBA dual degrees and what the most efficient path could be for you.

Best of luck!

 

[Saisri_PharmStdnt]

Thanks for the reply, @Next Step Tutor! Creighton does have the dual degree path available, and I've reached out to them for more information than what is available online. I've looked into stand-alone MBAs if I wish to pursue later and I'd be looking at a 50k degree + approx. 2 more years on top of my PharmD.

As it stands, when I complete my PharmD I'll be hitting 20 years with the company. If I had planned this path years ago, I'd probably be much more open to some of the other pathways for pharmacists, which admittedly are quite interesting.

 

[thenarcisist]

Thanks for the reply, @Next Step Tutor! Creighton does have the dual degree path available, and I've reached out to them for more information than what is available online. I've looked into stand-alone MBAs if I wish to pursue later and I'd be looking at a 50k degree + approx. 2 more years on top of my PharmD.

As it stands, when I complete my PharmD I'll be hitting 20 years with the company. If I had planned this path years ago, I'd probably be much more open to some of the other pathways for pharmacists, which admittedly are quite interesting.

girl, you have to be one of the wisest i've seen on here, I did think of taking up a dual degree cause drake does offer a few, but lately, ( due to how good i am in mathematics) my calculus professors challenged me to either minor or major in mathematics. just wait, I know what's def running through your mind, how does math and pharmacy come together? this really got me thinking and sometimes gave me nightmares. but i concluded with math as a second major. In this process, I thought to myself again, would this really benefit me, the main question, WHAT WOULD I DO AFTER GRADUATION?.
so i'm actually international, and my family runs a community pharmacy back home and i'm the only child currently studying pharmacy so i'm indirectly taking over the business. So i'm considering either dropping math and picking up MBA as a second major so if I plan on making my families business international in some sort, it could be possible.
just felt like sharing my plans with you cause you've helped me a lot

 

[Saisri_PharmStdnt]

girl, you have to be one of the wisest i've seen on here, I did think of taking up a dual degree cause drake does offer a few, but lately, ( due to how good i am in mathematics) my calculus professors challenged me to either minor or major in mathematics. just wait, I know what's def running through your mind, how does math and pharmacy come together? this really got me thinking and sometimes gave me nightmares. but i concluded with math as a second major. In this process, I thought to myself again, would this really benefit me, the main question, WHAT WOULD I DO AFTER GRADUATION?.
so i'm actually international, and my family runs a community pharmacy back home and i'm the only child currently studying pharmacy so i'm indirectly taking over the business. So i'm considering either dropping math and picking up MBA as a second major so if I plan on making my families business international in some sort, it could be possible.
just felt like sharing my plans with you cause you've helped me a lot

I appreciate the compliment..

I will say though, that if you're looking to run a pharmacy later, you should look up some of the comments on what is most helpful to have as a companion degree. Some said MBA was helpful, some said it was not the right preparation for actually running your own business. Make sure you research that decision well!

 

[ornithoptor]

Does MBA make any difference for pharmacist?

I can make an argument in your case. With your PBM background, you could provide a great narrative during job searching for non-clinical and non-retail jobs. It will come in handy for any administrative jobs. Definitely adds value to you and only you.

Few things about MBA: Typically MBA does not increase people's salary or value. Unless you have significant and progressive work history you can't get into a solid reputable program. Second, it is all about the ranking. Top ten programs will increase your salary tremendously, anything other than top 25 programs could lead to waste of time except you can print MBA on your card.

Dual MBA/PharmD for pharmacist: There were a few programs from 10 - 15 years ago, and typically one or two students may participate in the program from each pharmacy class. That was the level of interests students have. Most would pursue clinical and residency track. 2018, you now see many school and students interested in the program. I would conclude that students may not be genuinely interested in business management but rather using MBA as marketable skill and try to stand out from others.

Here is the conclusion: Unless you are truly motivated with business and operations or is interested in leadership position, do not pursue MBA for the sake of title only. If you get MBA after few years of work, it carry a lot of extra value. It Demonstrate drive, determination, passion, sacrifice and drive to the hiring managers. I met my share of pharmacist with MBAs. Ones who get MBA after worked for a few years truly stand out. They are mostly in leadership positions. On the other hand, numerous PharmD/MBA dual programs gradates I met have failed to distinguish themselves from other new grads. The point is, extra degree will help raise eye brows for a second, but if you can't follow through with business talks and prospective it has no value to hiring managers. Furthermore, sometime it hurts the candidate for wasting time/money and vanity.

Do not pursue MBA blindly, make sure you have a solid game plan, narrative and passion to get the value of the degree.

 

[Saisri_PharmStdnt]

Thank you for all of that insight. I really appreciate it. It also confirms what I had been thinking. I did decide to just pursue the PharmD now. I can go back and get the MBA if I truly need it later, but I won't be spending extra money now that I may not need to.