PhD vs MS/MBA

[ewbhockey]

So after asking just about everyone I know and searching online for some kind of useful advice I've gotten more answers than I know what to do with so I figured I'd ask here. I realize there was a thread similar to this about 5 years ago, but considering the changes in the job market I'd like to get a little more current advice...

 

So here's my story. I have 3.4 GPA and majored in biochemistry. I've done research on several different topics ranging from RNA to med chem to adult stem cells over the last 3 years, so I have a really broad research background. So given my background I really want to go into the pharma/biotech industry.

 

My dilemma is this. I've been accepted to a decent graduate school for medicinal chemistry, and I say decent because it's no top tier school but it's not bad. I would have the opportunity to do some good research, and the general opinion I've seen is that the quality of your research and your advisor is more important than the reputation of the school (feel free to correct me if I'm wrong here..) The reason I'm hesitant about the PhD though is that I feel like I will end up getting locked into a career in the lab, and I know eventually I would rather get on the business side of R&D. But, I also realize it's significantly harder to work your way up in the pharma/biotech industry without the PhD.

 

Another option I've been considering is maybe doing an MS and then MBA, since I feel like PhD and MBA is a lot (or I guess this could be an option). I want to do research for a while, and more PhD chemist jobs are research jobs, but eventually I would rather get out of the lab and get more into the business side of things. I guess my question is that I have no clue how to pursue this career idea I have, so I figured I'd ask a bunch of people and see what ideas I get back.

[Greippi]

I'm not sure what an MS or MBA are (I'm from England).=, but here's what I think:

 

You seem pretty much definite that you don't want to continue lab work, and one of the main advantages of a PhD is that you get more lab experience. If you were in England and a PhD was only a 3-year commitment, I would say you might as well do it because of your long-term career prospects. But if you're in America (PhDs are 7 years?) that might not be such a good idea.

 

I assume you've looked around at the sorts of jobs you'd like to do and see what they require - a lot of jobs like that only require a degree, and it sounds like you have a good background for that.

[Cap'n Refsmmat]

MS = Master of Science

MBA = Master of Business Administration

 

We don't do the British MPhys or MEng-style degrees here. Well, at least commonly.

[Greippi]

Well then, I would say the MS then MBA is your best option (or could you just do the MBA?), especially if the MS will give you more lab experience.

[ewbhockey]

It's not that I don't want to continue doing research; I enjoy research quite a bit. I just don't foresee myself 20 years from now still doing it. And after looking at salary data from ACS and other random sources it's not very much, and the job security isn't the greatest either.

 

I've spent a lot of time looking at jobs recently, and it seems that a lot of the jobs for a PhD wanting to do research are things like scientist I, II, III etc.. From there you can keep moving up, and the way I envisioned it that was where the MBA could come in and that would enable me to maybe move away from the research lab and more into the director/managerial area. I'm just concerned that the MS wouldn't be enough to get to that starting point though.

[CharonY]

There are different tracks in different companies. However quite often the scientist track (sci I, II,III etc or similar nomenclature) tends to be less desirable than the management side, especially in terms of income. Unfortunately I am less familiar with the management track and do not know whether a MS/MBA is sufficient. From what I have heard a MBA is more valuable if backed with job experience. But then those are hard to get in academia. I good bet is to look for positions right now to get an idea what kind of positions are offered for MS/MBAs and use that as a starting point.

[lallymba]

Hello..

 

If you want to move out of the lab, and want to go on for business side then I can suggest you some MS and MBA Programs in Lally Institute of management and technology.

 

The MS in Management; Financial Engineering and Risk Analytics; and Technology Commercialization and Entrepreneurship 9-month, full-time programs designed to create a career path for students who are seeking to broaden their career options in the areas of management, finance or entrepreneurship.

 

In today’s dynamic global markets, successful professionals need to be nimble, creative problem solvers. To enable you to achieve your goals, Lally has created a new, streamlined, full-time MBA Program, allowing you to earn an MBA in as little as one year. This intensive, accelerated program will stretch your imagination and creativity, and prepare you to lead in tomorrow’s business world.

 

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