5 Reasons Pharmacists Should Get an MBA

With six to eight years of study under their belts, the typical pharmacist isn’t a stranger to the classroom. But many pharmacists today are opting to take their education one step further with an MBA. It may not be a necessity to break into the field, but there are many benefits to this degree for a pharmacist.  Here’s 5 reasons pharmacists should get an MBA.

 

  • Prepare for a management role

 

Although pharmacists receive extensive clinical training, management training is minimal. A pharmacist may have taken a few undergrad management courses, which will prepare her for a career as a pharmacist, but they will not prepare her for anything beyond this.

An MBA allows room for growth. With this additional degree, your career could eventually advance to a senior management or executive hospital role.

 

  • Boost your confidence

 

With a better understanding of the business components of healthcare, you will have more confidence in dealing with management throughout your career. Since your educational background will likely be on par with the executives, you’ll understand why decisions are made at that level. Business jargon will be more like second nature than a foreign language. You’ll hold your own and remain confident in your abilities.

 

  • Lift limitations on your industry

 

A healthcare MBA broadens the scope of your education and it can qualify you careers you may not have even considered, such as a role in commercial pharmaceuticals.

 

  • Stand out in interviews

 

No one wants to blend into the crowd of applications hospitals receive daily. An MBA will help your application stand out in the best way possible. With an additional degree, you offer something the other applicants do not: versatility. Noting an MBA on your application tells potential employers that you are not only qualified for the job, but you are poised for upward growth.

 

  • Be prepared for anything

 

Even if you have reviewed all the reasons you need an MBA and decided they don’t apply to you, understand that things change. According to a Career Builder study, 32% of college graduates don’t end up in the same position they went to college to pursue. As your career progresses, you may find that you want to take more of a leadership role. And while it’s possible to get your degree at any time, most find it easier when they are fresh out of school.  

If still on the fence about whether you should pursue an MBA, think about what you stand to gain and whether it makes sense for you. The degree itself means nothing unless you take action and put the skills you’ve learned to good use.

Written by; Emily Walter, Freelance Writer

13 Comments

  1. Shelley

    But is the cost justified?

    Reply
    • Eric Christianson

      Hey Shelley, full disclosure, I do not have an MBA. I had a colleague that said it paid for itself within 2-3 years due to a bump in pay. I honestly don’t know how many have that experience though?

      Reply
  2. Mel Seabright

    I have an MBA and while it’s been useful at times it hasn’t been a game changer. I’d also recommend looking at a Masters in Public Health degree.

    Reply
    • Eric Christianson

      Thanks for the comment Mel, I had a colleague that said it paid for itself within 2-3 years due to a pay raise which may or may not be your experience Mel. Mel did you feel like it opened up doors that wouldn’t have been open for you? Or not so much?

      Reply
    • Tony Abraham

      hai, am Tony Abraham ,PharmD graduate , could anyone say which MBA is preferable after PharmD

      Reply
  3. Larry KIMANI

    I am a lifelong student of strategic management having majored in the subject some 15 years back. Financial literacy also takes you a notch higher than the average clinical pharmacist especially out here in our neck of the woods

    Reply
    • J A.

      I recently got my MBA in Strategic Management. I have no regrets. Probably one of the best decisions I have made educationally, however the job market it tight and I have not yet been able to shift careers in to the managed care or pharmaceutical industry. I considered an MPH, but a business degree made more sense to me.

      Reply
  4. Gloria

    What are your thoughts on an MHA (masters in health administration)? I’m thinking about getting one eventually…

    Reply
  5. Raghavendra S Hegde

    i have taken MBA in Dual Specialization(MBA+ post Graduation diploma in hospital Management)
    MBA degree will add weight-age to your Resume. even as Dr.Eric told it makes you to develop certain leadership qualities,
    Dr.Raghavendra S.Hegde, D.Pharm, B.Pharm, Pharm.D, (MBA+ PGDHM)

    Reply
  6. hesham ali

    can anyone tell me which specialty in MBA is the best for a graduated pharmacist? health care program or something else?

    Reply
  7. Jonathan Nomamiukor

    MBA a great fit for a Pharmacist

    Reply
  8. hina

    hy i am pharm d and get bussiness degree in uk but i nt know how can use in uk best job in induserial plz can guide me how i can do

    Reply
  9. Apolo Kaggwa

    How about the confidence to be self-employed one gets from having an MBA degree, when contemplating to start a science business as a dual clinical PharmD degree graduate, in the biotechnology or the pharmaceutical industries.

    Reply

Submit a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Written By Eric Christianson

January 29, 2017

Free PDF – Top 30 Medication Mistakes

Enjoy the blog?  Over 6,000 healthcare professionals follow the blog, why aren't you? Subscribe now and get a free gift as well!

Categories

Free PDF – Top 30 Medication Mistakes

Enjoy the blog?  Over 6,000 healthcare professionals follow the blog, why aren't you? Subscribe now and get a free gift as well!

Buy on Amazon

Categories

Explore Categories