Is a Business Degree Worth the Money After Med School?

In a growing world of entrepreneurship and technology advancing our society and expectations, are they improving society but making our degrees useless? As almost docs, is tacking an MBA or a business degree next to your MD worth it? 

I recently read an article about how an eighteen year old kid started his own hedge fund in his room at home, all because he had the connections that mattered to do it.  He didn’t do it with a degree, he didn’t spend hundreds of thousands of dollars and studied for years to do it, he simply had the network to do it.  As a business student, I must truly question the opportunity cost of school. Losing four precious years of life and hundreds of thousands of dollars all for a piece of paper that says I studied. Yet, it is important that I have that piece of paper because it is an indicator to society that I have gone to school for the “right” amount of time and now am ready to work.

But in terms of a job in business, I argue that it is the connection to the company or person who hires you that is much more important than the degree itself. Two alike kids coming out of college want to work in the financial sector, one has family in the line of business and the other does not. The one with the family connection is more likely to find a job at that point solely based off his network.

To me this is true in the medical field as well, when pertaining to medical business. Is an MBA after med school worth it? The world has progressed into a business world with growing rates of entrepreneurship.  The growth of technology sparked this with more and more business trying to compete, and more and more private parties thinking they can do it better. But from a medical hiring standpoint where does the degree fit in. Most medical business roles revolve around medical knowledge not business knowledge, hence the hiring strays towards seeking candidates with impressive medical backgrounds, and focusing on the business degree side later.

For example, the position of Medical Science Liaison is a medical business role, yet when seeking to hire candidates there is no talk of an MBA, candidates are usually assessed on their medical degree such as MD, or PharmD. Obviously having a combination of the two would make you a much more impressive candidate, but again whats the opportunity cost of that degree?  Another two three years of classroom before you hit the office, that time could be spent gaining experience, and is that experience more valuable than the degree? Opportunity cost may be the most important thing you learn in any business class, because every decision has sacrifices to it, if you understand those sacrifices, especially when it comes to money and time, you will start to see different life paths and jobs from a more analytical side rather than mere speculation.

I am not siding with either argument over the degrees, I am simply providing some food for thought.  

Let us know in the comments your feelings about this, do you feel like you spent too much on your degree?

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nick-provenzano

Nick Provenzano

Nick is a contributor to The Almost Doctor’s Channel and current business student at the University of Pittsburgh. H2P.

2 Comments

  1. Edward Thompson

    Nowadays, individuals can learn the vast majority of it on the web. You approach such a significant number of assets and access to many dissertation introduction. You don’t need to go the conventional course any longer. I would do some instruction since you require it, however, I wouldn’t go over the edge and think, In the event that I go to class for three or four years, I’ll turn out a business visionary. No, you can’t.

  2. Annabel

    I would do some direction since you require it, notwithstanding, I wouldn’t go over the edge and think, if I go to class for three or four years, I’ll turn out a business visionary.
    More help

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