When you think of an MBA, you may picture suit-clad business executives in downtown high rises. The term MBA has so many business connotations that many people don’t realize how broad this area really is. When you think about it, nearly every industry has management professionals at the top. If you enjoy business but also want to include the thrill and intrigue of science in your career choice, a biotechnology MBA will give you the best of both worlds. You can combine science and health care with this MBA and obtain a lucrative career with lots of room for advancement.
Biotechnology MBAs are in high demand today because the growing healthcare industry is struggling to serve aging baby boomers. With this expanding pool of patients, it’s easy to see why healthcare agencies need better management today than ever before. With a biotechnology MBA, you can address both the science of healthcare and the business of treating patients, employing doctors, and running efficient facilities. Innovation is essential to this field. You’ll be responsible for evaluating the latest developments in healthcare and determining which ones to pursue and how to best incorporate them into your facility.
A biotechnology MBA may be right for you if several of the following apply:
- You enjoy problem solving in a fast-paced environment
- You enjoy handling paperwork and other organizational matters from an administrative standpoint
- You have an inner scientist that thrills in evaluating new technologies
- You have a passion for healthcare and want to help others
- You’re organized and punctual with strong time management skills
- You enjoy working with others
- You have strong leadership and management skills and like to be in charge
Your biotechnology MBA will begin by giving you a solid business foundation. Much like any MBA program, this course will teach you economics, finance, management, and other business basics. On top of this, you’ll also take specific biotechnology courses that focus on biostatistics, bioinformatics, and biochemistry. As biotechnology and business come together in your coursework, you’ll address issues that are unique to management in this industry such as intellectual property rights, healthcare regulations, health and safety, and insurance policy. You’ll walk away with a diverse toolbox of new skills that are unique to the biotechnology industry that you plan to pursue.
Some of the careers that you may choose to pursue in biotechnology, along with their associated median annual salaries are listed below:
- Biochemist or Biophysicist – $79,390
- Biological Technician – $39,020
- Medical Scientist – $76,700
- Natural Science Manager – $116,020
- Medical and Health Services Manager – $84,270
The salaries listed above indicate the median for the entire field. With an MBA, you can typically expect to command a higher salary. Many MBAs find that they’re well-qualified for a promotion or raise almost as soon as they complete their educational program. If you’re working in the healthcare field but feel that you’re ready to move up to a management position, a biotechnology MBA may give you the leverage you need to achieve your goals.
Going back to school for an MBA doesn’t have to be overwhelming. Many MBA programs are available online. This means that you can take all your courses over the internet. This makes your college coursework available anywhere that you have an internet connection. Some employers will even help to fund your continuing education when you’re pursuing a degree in a field related to your current position. With online classes, you can keep your current job and continue working full time while simultaneously pursuing an advanced degree. Stop stalling and begin the application process today to transform your career.