Is MBA a good option after MBBS?

Is MBA a good option after MBBS?

The combination of MBA after MBBS is gaining popularity among medical students who wish to explore new-age specializations such as hospital management, medico-management, medical administration, pharmaceutical management, and more. Nowadays, doctors are also drawn to MBA programs as they seek to learn managerial skills and competencies that can benefit their medical practice or pursue interdisciplinary careers like hospital management. Explore this blog to discover information about pursuing MBA after MBBS, including salary, eligibility criteria, scope, specializations, top colleges, and much more.

Why Pursue MBA after MBBS?

Many medical students face challenges while considering the option of pursuing MBA after completing a 5-6 year MBBS program. However, MBA after MBBS can unlock more promising career opportunities that are both unconventional and unique and at most times better-paying and satisfying too. By combining MBBS degree with MBA, doctors gain a deeper understanding of hospital operations, healthcare delivery, and treatment processes.

If you’re still wondering why to study MBA after MBBS? Here are a few reasons that can help you make the right choice:

1. Studying MBA after MBBS allows you to pursue in-demand specializations like Hospital Management, Medico-Management, or Healthcare Management systems.
2. Explore your entrepreneurial skills.
3. Career boost.
4. Implement critical thinking and analytical skills.
5. Avoid medical entrance exams for practicing medicine or getting admission into postgraduate courses.

Benefits of MBA after MBBS:

• The growing number of healthcare centers and institutions has created increased job opportunities in hospital administration and management. Pursuing MBA degree can help you to explore prospects in healthcare management.
• It can lead to a significant increase in salary. According to pay scale, an MBBS doctor in India earns INR 300,000 per year, whereas an MBA graduate in Hospital Management earns INR 660,000 per year.
• Those who want to strengthen their entrepreneurial skills after completing their MBBS can consider enrolling at the Indian Institutes of Management (IIM) or other top B-Schools in India.
• It allows students to stand out from the crowd of MBBS graduates and provides them greater impact in the healthcare business.
• MBA after MBBS provides you with the opportunity to lead a hospital rather than working in one. The individuals have the opportunity to become the boss and manage the administration and operations of a hospital.
• It also permits candidates to bypass PG courses in medicine, where approximately 160,000 individuals apply for NEET PG each year. Instead, candidates can pursue a comparable niche career option in a comparable compensation package.

Eligibility for MBA After MBBS:

• For MBA courses, applicants generally have to complete a bachelor’s degree from a recognized university or educational institution. For MBBS graduates, one of the major requirements is that their medical degree should be accredited by a recognized medical association, such as the Medical Council of India (MCI) in India.
• There are several MBA entrance exams such as MAT, XAT, CAT, GMAT, and others, which applicants need to qualify for based on the requirements set by their chosen universities or institutions. In India, many universities accept scores from exams like GMAT, CAT, XAT, and MAT. Additionally, some institutions may have specific entrance exams for their MBA programs.
• If you are considering pursuing MBA abroad, there are additional eligibility requirements that you need to fulfill. Universities offering MBA programs internationally often require applicants to submit GMAT scores, while some institutions also accept GRE scores. You will also be required to provide language proficiency test scores of IELTS, TOEFL, PTE, etc. along with admission essays, SOP and LORs.

Types of Specializations for MBA After MBBS:

MBA after MBBS Colleges in India & Abroad:

MBA involves a two-year program. However, some universities also offer one-year MBA courses. Opting for a reputable MBA college is indeed crucial for maximizing your opportunities. Here are a few renowned universities highly recommended for MBA after MBBS:

1. IIMs – Ahmedabad, Bangalore, Calcutta, Indore, Lucknow, Kozhikode, etc.
2. Indian School of Business – Mohali and Hyderabad.
3. XLRI Xavier School of Management – Jamshedpur.
4. IITs – Kharagpur, Delhi, Bombay, etc.
5. SP Jain Institute of Management and Research – Mumbai.
6. Faculty of Management Studies – Delhi.
7. SVKM`s Narsee Monjee Institute of Management Studies – Mumbai.
8. Indian Institute of Foreign Trade – Delhi.
9. NIT – Tiruchhapalli.
10. Jamnalal Bajaj Institute of Management Studies – Mumbai.

MBA After MBBS Colleges Abroad:

1. Columbia Business School.
2. Northwestern University, Kellogg.
3. Duke University, The Fuqua School of Business.
4. Cornell University, SC Johnson School of Business.
5. UCLA Anderson School of Management.
6. UVA Darden School of Business.
7. The University of Washington, Foster School of Business.
8. Harvard Business School
9. University of Texas at Austin, The McCombs School of Business.

Steps for Pursuing MBA After MBBS:

It is not easy to decide which MBA program to study after studying Medicine for such a long time. As a medical student, you likely have a strong foundation in BiPC (Biology, Physics, and Chemistry) subjects from your school education. Here are some basic steps that can guide you in the right direction as you navigate your career shift, with the assistance of GK Works experts:

• When choosing an MBA specialization, it is important to consider your interests, skills, and future goals.
• Pick a university well-known for your chosen program.
• You will have to appear for selective management exams as per your selected B-school if you are selecting an Indian University.
• You need to give the GRE for studying abroad.

Scope of MBA After MBBS in India:

Fortunately, we are no longer living in an era where MBBS is treated as a full stop or a comma only to precede MD. Pursuing an MBA after completing MBBS opens doors to entrepreneurship, healthcare organizations, and involvement with consulting firms. You can have the following exciting job profiles amongst many others:

• Consultant for Healthcare Licenses
• Fellow in Clinical Research
• Emergency Specialist
• Hospital Administrator
• Hospital Manager
• Health Information Manager
• Pharmaceutical Project Manager
• Healthcare Consultant
• Medical Facility CFO
• Medical Manager
• Policy Analyst or Researcher
• Medical Director

MBA After MBBS Salary:

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