Why an MBA?
Career Progression
There are opportunities within medicine where a formal business education offers significant benefit in terms of both education and future career progression. A career in Public Health, for instance, requires a significant degree of competency in quantitative and statistical analysis combined with a flair for strategic thinking and excellent communication. These core skills are readily acquired through MBA studies in such a way as to be transferable to any other career outside of medicine.
Although not a guaranteed 'passport' to a well-paid and successful career, the MBA in itself adds significant weight to a CV and acts as a benchmark for those seeking to progress in high-level management posts within the clinical environment. A large number of those clinicians who are working as top executives will have completed an MBA at some stage during their career.
With the current problems and bottlenecks in doctors' training, the option to take time out and study for an MBA provides opportunities for broadening a 'standard' medical CV, interacting with a diverse range of international colleagues and opening doors to new and exciting career opportunities within the healthcare field.
Returning to the clinical fold with a top tier MBA will help you to stand out from your peers and gain a significant number of skills and attributes that will change forever the way in which you approach everyday tasks, analyse complex problems and develop strategic solutions.
Career Change
Doctors who operate beyond the traditional boundaries of clinical medicine have a remarkably diverse range of opportunities. These include the opportunity to contribute to healthcare delivery and the advancement of medicine, through various industries. Taking one or more of these opportunities gives the individual the potential to make a difference on a much wider scale than a traditional doctor can. To this satisfaction we can also add the assumption of a much more appropriate remunerative environment.
The scientific training we have all received allows us access to top-level positions within a broad range of corporate positions involving the life sciences. With the increased level of globalisation, opportunities exist within North America, Canada, Europe, Asia and throughout the rest of the world, providing both the excitement and the significant challenge of working abroad.
In essence doctors have the ability to leverage their medical skills to make a difference either within healthcare or in a completely different field.
Some of these options are significantly easier to access via an MBA, and for others, the business education is a virtual pre-requisite in order to make the transition from clinical medicine:
- Health Care Policy
- Management Consulting
- Investment Banking
- Venture Capital
- Pharmaceutical Industry
- Biotechnology Industry
- Private Equity
- Hedge Funds
- Entrepreneurship/Start-ups
It may be that some of our MD2MBA clients are suitable to undertake these industry roles straight out of medicine without the need for an MBA. We offer a parallel service through our partner site Doctors Career Choices for these types of candidates. In certain cases, we are able to offer a dual strategy of coaching, working simultaneously towards both MBA admissions and applications to top tier firms (e.g. Management Consulting/Investment Banking). Should you match this profile during our initial consultation, we will let you know from the start and offer you a discounted rate for using both services together.
Due to the high volume of workload required on your part and the level of time investment required on ours, we will only select a very small number of candidates for this route. The benefits to those selected will be significant in terms of avoiding replication and also providing a significant range of potential options for changing careers.
For more information on Doctors Career Choices and our partner services, please click here
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