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Kamaldeep
11 April, 2024
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“The best way to predict your future is to create it.” -Abraham Lincoln
The pharmacy industry is like a resilient banyan tree that is constantly adapting to new environments. A pharmacy degree will equip you with core knowledge, and a strong trunk. Here, the branches represent your ability to adapt. But if you aim to reach the top of your career then you can climb it by pursuing an MBA degree. It offers various specialisations you can choose from after completing your BPharm or MPharm degree.
An MBA degree will give you an understanding of Business, Management, and Leadership, opening up great career paths in the pharmaceutical field.
One of the published articles in The Princeton says a recent survey by Bloomberg Businessweek found that MBA graduates who switched from jobs paying around $50,000 to full-time MBA programs experienced an 80% salary increase after graduation.
Now that you are ready to choose an MBA specialisation, you might feel a bit like choosing a movie genre – lots of options and the pressure to pick the right one.
But do not worry, mate! This article will help you discover the top MBA specialisations that complement your BPharm or MPharm background.
An MBA after your BPharm or MPharm degree can be the magnifying glass that grants you this broader vision.
Your BPharm or MPharm degree will equip you with a scientific foundation, but an MBA can add business acumen. You will learn about Finance, Marketing, and Operations, which will give you an understanding of how medicines are created, brought to market, and managed within a company. It is like adding a dash of strategic thinking to your scientific expertise.
With an MBA degree, you will be a far more attractive candidate for leadership positions. It will add an extra flavour to your professional profile. You can transition your career from a purely research-oriented role to a pharmaceutical marketing team, or even launch your own pharmacy business. An MBA can open doors to a wider range of opportunities, both within the pharmaceutical industry and beyond.
The pharmaceutical industry is a complex web of research, development, and commerce. An MBA will equip you to navigate these intricacies. You will gain insights into areas like Drug Pricing, Market Analysis, and Resource allocation. You will see the bigger picture, like how much money is spent on research or advertising affects how well a medicine does overall.
An MBA programme is a melting pot of talented individuals. You will connect with classmates from diverse backgrounds, building a network that can be invaluable throughout your career. Think of it as gathering the ingredients for a professional recipe for success. These connections can open doors to new opportunities, provide mentorship, and keep you updated on industry trends.
| Specialisation | Details |
| Pharmaceutical Management | This specialisation focuses on the business side of the pharmaceutical industry, including drug development, marketing, and regulatory affairs. |
| Healthcare Management | In this specialisation, you will be learning about optimising healthcare services, streamlining operations, and enhancing patient satisfaction. |
| Marketing Management | This specialisation focuses on understanding consumer behaviour, market trends, and brand strategies. These are particularly related to the pharmaceutical sector. |
| Supply Chain Management | This specilisation is focuses on managing the flow of goods, information, and finances in the pharmaceutical supply chain, ensuring efficiency and cost-effectiveness. |
| Data Analytics for Healthcare | In this specialisation, you will learn to use data analysis techniques to improve decision-making processes, optimise healthcare delivery, and enhance patient outcomes. |
| Biotechnology Management | This specialisation is focused on strategic management of biotechnological innovations, including research and development, commercialisation, and regulatory compliance. |
| Pharmaceutical Sales Management | You will learn about sales strategies, market research, and relationship management in the pharmaceutical industry to drive product sales and market penetration. |
| Job Role | Average Salary (Per Annum) |
| Pharmaceutical Product Manager | ₹14.2 Lakhs |
| Healthcare Administrator | ₹6.6 Lakhs |
| Marketing Manager | ₹12.2 Lakhs |
| Regulatory Affairs Manager | ₹16.8 Lakhs |
| Supply Chain Manager | ₹14.1 Lakhs |
| Healthcare Data Analyst Manager | ₹30.3 Lakhs |
| Biotechnology Business Development | ₹6.9 Lakhs |
| Pharmaceutical Sales Manager | ₹15.3 Lakhs |
Source- AmbitionBox
| Institutions | Programme Fee Structure |
| IIM Bangalore | INR 24,50,000 |
| IIT Bombay | INR 3,57,450 |
| Amity University | Non-Sponsored Fee 3.89 Lacs (One semester) Sponsored Fee 5.835 Lacs (One semester) |
| SIBM Pune | INR 14,69,500 |
| Institutions | Programme Fee Structure |
| DY Patil Online | INR 1,40,200 (Full course) |
| Online Jain University | INR 75,000 – 1,30,000 (Full course) |
| Online Manipal University | INR 43,750 (Per Semester) |
| Amity Online | INR 1,79,000 (Full course) |
Related: Top 10 Online MBA Colleges in India
If you are a BPharm or MPharm graduate looking to advance your career, consider pursuing a full-time MBA or an online MBA course. It’s the perfect blend of scientific knowledge and business expertise, a powerful formula that can propel you to the forefront of the pharmaceutical industry.
