Monday, October 31, 2011

The Healthcare MBA: One Fast Track in a Slow Economy

Article about Health Sector MBA at the link below:

The healthcare track for MBAs has never been a hot one — until now. Believe it or not, healthcare companies can’t find enough MBAs to fill open positions in this $2.26 trillion industry, says Marjorie Baldwin, head of Arizona State University’s School of Health Management and Policy. Hospital administration and healthcare practice management may still lack the glamour of top consulting gigs, but the opportunities now go beyond just hospitals - B-school grads can find roles in everything from biomedical startups and e-health ventures to consulting and pharmaceutical R&D.

Even as the country overall lost another 598,000 jobs in January, according to the Bureau of Labor Statistics, healthcare was one of just three industries to expand its workforce. In fact, healthcare services added 372,000 jobs throughout 2008, and a good chunk of those were on the business side. At Kaiser Permanente, for example, a third of the 16,000 to 18,000 positions that open up each year are in management and operations.

Most lucrative jobs:

The most popular positions for MBAs in the healthcare industry, according to Payscale, Inc. (Salaries represent 2008’s national median pay.) Hospital Administrator: $112,000 Healthcare Consultant: $99,500 Pharmaceuticals Project Manager: $91,900 Healthcare Services Director of Program Management: $89,000 Practice Manager: $87,300

Major MBA recruiters:
IMS Health
Amgen: MBA Leadership Program + summer internships
HCA etc

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