Is an MBA worth it?

Question

I'm thinking about going to medical school and getting an MD. My major in college was Statistics with an emphasis on business. Everyone is telling me that with my background I should be getting an MD/MBA. But whenever I hear about getting an MBA I keep hearing that it's useless, that compnaies rely more on experience than degrees. Does anyone here have any experiences of getting an MBA and is it worth it? Also I know that if one gets an MD/PH.D school is technically free because you get so many scholarships and fellowships without even asking. Anyone know if that's true with an MD/MBA?

Answer 1

In general, an MBA can be the entry ticket into a lot of professions: consumer goods marketing, consulting, etc. Without it, you may get into those fields, but it's harder, or with the less elite employers. So an MBA is a good thing.

I have my MBA. It allowed me to change careers easily, and also to enter a position where the MBA was one of the requirements in.

In your particular circumstance, you need to think about what you want to do once you graduate. If you hope to go into, say, hospital administration, then having that MBA may be useful. But it's all about what you hope to do, and whether or not an MBA fits your particular circumstances.

An MD/PhD would lead you in more of a research direction.

Think about what you'd like, and then go in that direction.

Answer 2

You didn't mention why you want to go to med school. What is your primary career goal to be a doctor or business type person?

If you want to be a clinical/practicing doctor, then an MBA has no relevance. If you want to be doctor only to go work for a company, then there’s no point getting an MD since you’re not going to be practicing medicine on anyone.

Most doctors who go into the business world do so after gaining years of experience and then becoming consultants for companies. Some also open their own companies and work on new technologies or services. In these cases, years of clinical MD experience is worth much more than an MBA.

Regarding MBA’s in general, the MBA is necessary if you want to make a career change, like investment banking into consumer marketing at Procter and Gamble. It’s also only relevant if you get into a Top 20 MBA school. There’s hardly any difference in salary beyond that. You can easily work in middle management and make the same money as the non-Top 20 MBA people, if you have the necessary experience. I’m also seeing that companies are selecting people from Top 10 schools for the huge salaries ($150K+).

I personally don’t think MD/Phd programs are usually free rides. These people usually build up a lot of debt and work as assistant professors as supplemental income. Scholarships at the graduate level get more and more competitive to receive. You might be thinking of grant money to work on projects…

Answer 3

Will you be going section-time, or comprehensive-time? And do you intend to paintings in NYC metro and surrounding? Rutgers has a good community rep for its section-time MBA courses. they are between the main efficient section-time MBAs in NJ, if no longer the main efficient. Others interior the section with quite good reps for his or her section time courses are Fordham, Baruch, and NYU... yet consistent with what you stated, NYU could be out of attain. it quite is okay. you have have been given ideas. once you're a NJ resident, then Rutgers is a extensive good purchase, IMO. once you're a protracted island resident, then Baruch is a extensive good purchase. once you're presently working, your organization might furnish training compensation, which could aid you pay for the MBA - candy. do you prefer to try this section-time, or comprehensive-time? i'm not sure that leaving paintings to do a Rutgers MBA is well worth it, different than especially situations... so i might might desire to renowned extra approximately what you choose from all this. yet section-time? completely well worth it.