2 year B-School or Combined MD/MBA?
Hey Everyone-I just wanted to throw out my situation for some opinions.
A little about me-I'm finishing up my first year at a top ten ivy league medical school. While I love learning about medicine/current research, actually practicing in the current political and economic state of healthcare is different than the idealism of studying. It has become clear that financial factors influence healthcare at EVERY level. For the past few years, my interest in pursuing an MBA has been growing substantially, and at this point, if I decide not to practice, I'd be interested in getting into banking (in a healthcare group of course) and possibly eventually doing PE. As a dream, I'd like to be able to start my own biotech or something to bring the right people together in the right room in order to actually solve real medical issues and make progress (I have a family member with a genetic disease that in theory could be cured with the above situation).
I entered medical school directly out of a top 20 non-northeastern university (Northwestern, Wash U, Emory, etc). Any finance knowledge I have is a mix of self-taught and picked up by banker buddies. My school has a 5 year MD/MBA program, but it is 3 semester of business school with no internship time. Would it be more worthwhile to apply out to a two year top ten program in order to get the extra classes and time for internships?
Thanks for your help-any responses/perspectives would be great to hear!
Get the MBA and start your own practice or go into biotech. There's no point putting in the 4 years pre-med + 4 years med school just to become a fucking number monkey somewhere. Any MD (Managing Director) in their right mind would throw you out of an interview if they knew you had an MD and were choosing banking over a job with, let's be honest, far more social utility and similar earnings potential.
Unless you think you're the next Michael Burry and are going to start your own hedge fund, make use of the knowledge and skills you've developed.
I would say go do the MD, get into a specialty that will allow you to jump into PE so ROADs, Ophtho at Bascom, Rads at Cornell, etc. get an MBA afterwards if you need it and you may not, you can consult to PE and then make the transition. Also cards, heme-onc, ortho etc have great opporutnities in industry.
The political environment of healthcare is the only thing that could make the political environment of banking look good.
I agree with Tracer - being a doctor won't necessarily give you an advantage in healthcare investment banking, since banking doesn't dig that deep into product design, operations, etc. Where you see more technical backgrounds is in venture capital - and to some extent PE - since they will get involved down to the operational level.
The nice thing about a MBA is you can use it to change careers basically whenever you want. Since you're only saving one semester by doing the joint program maybe it makes sense to try a job or two out after you graduate to better understand exactly what you want to do - and then go back to get the MBA.
graduating with an MD without going through residency is pretty useless from what i hear.
But if you feel that having the MD will help you start that company then you should complete it even if you never intend to practice. I know a few people that think they have great ideas for websites/high tech products but don't have the engineering background to start the company. They just studied finance instead
Sorry but MBAs don't solve real medical issues. MBAs hire the people to find the cure and take all the credit for it. Looks like you have an affliction for learning and don't know how the hell to approach your goals. Most MD/MBA degrees require that you apply to both simultaneously. Most not all.
Med school --> Banking --> PE ---> Biotech company. Not a typical career path. Plus, you know banking is a lot of modeling work. That doesn't really complement starting a biotech firm very well.
Top b-school --> VC --> biotech company is more realistic
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