| Topic Name: |
MD seeking MBA |
| Message Name: |
Another area: Healthcare IT |
| Date Posted: |
07/30/2001 |
| In Reply To: |
There are a few options. It sounds like you've ruled out consulting, i-banking as possible entrees into business. These are the typical areas that MD/PhD/JDs start business careers. Probably because these industries offer the business training that you do not yet have.
You are correct that VC firms, and many other businesses will not hire you without either an MBA or business experience.
So, your options (among others, I'm sure) are:
1. Get an MBA, fulltime (big expense, but you'll get payback)
2. Work as a resident for a year, get the MD experience (which you MIGHT just enjoy), and then get an EMBA (exec MBA- you can get it on weekends and at night).
3. Look for a job at pharma companies to get a LITTLE business experience. This might not be a bad option, as you can get a decent job, and think about an EMBA (which they might pay for). Also, if you go to a company like Wyeth (part of American Home Products), you can move into other consumer goods after a couple years.
4. Look for jobs in healthcare-related industries like insurance/HMOs or in government (public health/public policy). These may not offer big paychecks, but it could be good experience if you are interested in health policy.
Unfortunately, your choices will be limited without an MBA at this point, since you have no business experience. Realistically, there are very few industries (other than consulting/ibanking) that will hire you just because you have an MD. |
| Message: |
I graduated from medical school in May, and I've just started at a healthcare IT company.
(Medicine to the business world is a really tough adjustment, by the way - I should probably lower my expectations of myself, but being a perfectionist physician, it's kind of difficult. I'm sure you all can relate).
I had a job offer from a strategy consulting firm and turned it down for this - more real-life, real-world work experience. The pay is a multiple of my residency salary. Mostly management work - almost no hands-on tech.
I think this industry is a great opportunity for physicians who are interested in getting their feet wet in business but without the huge
'career-breaker' air that consulting and I-banking have. All you docs know how healthcare IT is a huge topic among strategy-minded clinicians. And clinicians are highly valued in this industry.
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