Healthcare advancement is at the core of biotechnology, a field in which experienced and innovated leaders must be able to manage a wide array of issues that include science, regulatory roadblocks, intellectual property, financing, and the marketplace. With a biotechnology MBA, candidates are fully skilled and prepared to take on the meeting of science and business and bring them as a working whole into the future successfully, especially now as our society, in general, is aging and more and more healthcare innovations will be needed to care for this aging population. This degree program is relatively young, created out of a recognition of both the need for and desire of candidates interested in working both in the healthcare field and management.
What’s involved in a Biotechnology MBA?
Imagine combining course work in molecular and cellular biology and genetics with course work in accounting and international business. This is possible if you are interested in obtaining a biotechnology MBA. Along with advanced courses in business, management, and more, you will also be focusing on courses in bioformatics and biostatistics, as well as courses dealing with regulatory legal issues.
What is the career field like for someone with an MBA in biotechnology?
Once you have obtained your biotechnology MBA, it won’t be long before you realize your career path as really opened up with many available avenues at your beckoning, including positions in the pharmaceutical field. Careers that can be spawned from holding a Biotechnology MBA include:
- Project management
- Research management
- Director of Research
- Financial analyst for scientific testing and development
- Market analysis for biological goods
- Biotechnology business analyst
- Natural science management
- Quality Control Expert
- Senior scientist
- Business development
Companies like the Bayer Corp., Unimed Pharmaceuticals, and Bristol-Myers Squibb, all seek biomedical and biochemical scientists for researching and developing new products. Biotechnology is considered the most progressive when taking into account scientific research. It affords entrepreneurs the chance to break into the world market with never before seen products developed for the agricultural, renewable energy, and pharmaceutical fields. With emphasis on food supplies and energy resources, as well as drug treatment breakthroughs, the opportunity for the development of new companies is certainly possible, or, for the development of new business divisions created within existing companies.
What Biotechnology MBA programs are available globally?
It should be noted that before you commit to a particular program, you should ascertain that the program is fully accredited and enjoys a solid reputation. You should also be able to gain access to the schools after graduation employment and earning statistics. Schools with full and part-time biotechnology MBA programs on campus, include:
- Johns Hopkins University – Carey Business School, Baltimore Maryland
- Grenoble Ecole de Management – Grenoble Graduate School of Business (GGSB), Grenoble, France
- Coventry University – Coventry Business School, Coventry, England
- University of Maryland – University College, Adelphi, Maryland
- University of Aberdeen Business School, Old Aberdeen, Scotland
- Simon Fraser University – Beedie School of Bsuiness, Vancouver, Canada
- University of Abertay Dundee – Dundee Business School, Dundee, Scotland
- Peen State Great Valley – Malvern, Pennsylvania
- Flinders University – Adelaide, Australia
- University of Pune – Pune (M.S.), India
In general, full-time students can look at successfully completing all course work within one to two years while those attending on a part-time basis, as well as those taking courses online, are looking at completion in two to four years.
What is the salary potential of someone holding a Biotechnology MBA?
An MBA will greatly increase your salary potential in any job sector, earning approximately $10,000 to $20,000 more annually than those with a Bachelors degree, with even more annual income potential included if one were to consider sign on bonuses and, if offered, commissions. And, in a lot of companies, especially those that involve consulting and product management, only those candidates holding an MBA will be considered for higher positions.