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Hospitals aren't the only organizations that hire healthcare MBAs. Biomedical startups, e-health ventures, consulting, and pharmaceutical R&D provide other promising opportunities for healthcare MBAs. How can you use your MBA to work in the healthcare industry? Read on to learn more.
Healthcare Management Jobs
Two increasingly popular career paths for healthcare MBAs are medical and health services management and healthcare consulting:
Medical and Health Services Managers are responsible for planning, directing, coordinating and supervising the delivery of healthcare. They are either specialists in charge of a particular department or generalists who manage an entire facility or system. Given the round-the-clock nature of most healthcare facilities, managers need to be able to work long hours. Some travel may be involved as well. In May 2008, the average salary for medical and health services managers was $87,040. Medical and health services management positions include Hospital Administrator, Healthcare Services Director of Program Management and Practice Manager.
Healthcare Consultant
Healthcare consultants run organizational studies, design systems and procedures and put together manuals designed to guide healthcare organizations in how to better manage their healthcare systems. The median salary for healthcare consultants in 2008 was $99,500, according to CBS Moneywatch.
Pharmaceutical Jobs
Pharmaceutical companies have always been active MBA recruiters. High salaries, attractive benefits and international mobility are some of the things that a job in the pharmaceutical industry can offer to MBAs. Despite several years of economic decline, the pharmaceutical industry is set to recover and increase their number of MBA hires.
The big pharmaceutical companies may not be able to maintain a high level of MBA hires due to the loss of patents on big name drugs. At the same time, however, MBAs are being aggressively recruited by the many smaller pharmaceutical and healthcare companies looking to meet their growth potential. Pharmaceutical companies are looking for recruits who want to work in the pharmaceutical industry as part of their long-term career goals.
UNC Kenan-Flagler students can prepare for health services management roles through their Masters of Healthcare Admistration/MBA joint degree program offered in conjunction with the Gillings School of Global Public Health. MBA students can also participate in the UNC Kenan-Flagler Healthcare Industry Club, which provides them with opportunities to network with contacts at biotech companies in North Carolina's Research Triangle.
Fuqua's MBA Health Sector Management (HSM) program focuses on important healthcare issues such as service delivery, financing alternatives, patient and provider relationships and organizational relationships. HSM concentrations are offered across Fuqua's MBA programs including the Daytime MBA program, the Cross Continent MBA program, the Weekend MBA program and the Global Executive MBA program.
Kellogg's Health Enterprise Management (HEMA) major is designed for those who want to work in the services or products side of the healthcare industry. Kellogg also has a Healthcare Club which provides students with opportunties to increase their awareness, develop relevant skill-sets and find jobs within the healthcare industry.
MBA in Healthcare
By QS Contributor
Updated September 26, 2014 Updated September 26, 2014Hospitals aren't the only organizations that hire healthcare MBAs. Biomedical startups, e-health ventures, consulting, and pharmaceutical R&D provide other promising opportunities for healthcare MBAs. How can you use your MBA to work in the healthcare industry? Read on to learn more.
Healthcare Management Jobs
Two increasingly popular career paths for healthcare MBAs are medical and health services management and healthcare consulting:
Medical and Health Services Managers
Medical and Health Services Managers are responsible for planning, directing, coordinating and supervising the delivery of healthcare. They are either specialists in charge of a particular department or generalists who manage an entire facility or system. Given the round-the-clock nature of most healthcare facilities, managers need to be able to work long hours. Some travel may be involved as well. In May 2008, the average salary for medical and health services managers was $87,040. Medical and health services management positions include Hospital Administrator, Healthcare Services Director of Program Management and Practice Manager.
Healthcare Consultant
Healthcare consultants run organizational studies, design systems and procedures and put together manuals designed to guide healthcare organizations in how to better manage their healthcare systems. The median salary for healthcare consultants in 2008 was $99,500, according to CBS Moneywatch.
Pharmaceutical Jobs
Pharmaceutical companies have always been active MBA recruiters. High salaries, attractive benefits and international mobility are some of the things that a job in the pharmaceutical industry can offer to MBAs. Despite several years of economic decline, the pharmaceutical industry is set to recover and increase their number of MBA hires.
The big pharmaceutical companies may not be able to maintain a high level of MBA hires due to the loss of patents on big name drugs. At the same time, however, MBAs are being aggressively recruited by the many smaller pharmaceutical and healthcare companies looking to meet their growth potential. Pharmaceutical companies are looking for recruits who want to work in the pharmaceutical industry as part of their long-term career goals.
For more information on MBA jobs in pharmaceuticals and healthcare, read the 2013 QS Jobs & Salary Trends Report.
Top MBA programs
UNC Kenan-Flagler Business School
UNC Kenan-Flagler students can prepare for health services management roles through their Masters of Healthcare Admistration/MBA joint degree program offered in conjunction with the Gillings School of Global Public Health. MBA students can also participate in the UNC Kenan-Flagler Healthcare Industry Club, which provides them with opportunities to network with contacts at biotech companies in North Carolina's Research Triangle.
Duke University, Fuqua School of Business
Fuqua's MBA Health Sector Management (HSM) program focuses on important healthcare issues such as service delivery, financing alternatives, patient and provider relationships and organizational relationships. HSM concentrations are offered across Fuqua's MBA programs including the Daytime MBA program, the Cross Continent MBA program, the Weekend MBA program and the Global Executive MBA program.
Kellogg School of Management, Northwestern University
Kellogg's Health Enterprise Management (HEMA) major is designed for those who want to work in the services or products side of the healthcare industry. Kellogg also has a Healthcare Club which provides students with opportunties to increase their awareness, develop relevant skill-sets and find jobs within the healthcare industry.
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This article was originally published in March 2012 . It was last updated in September 2014
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