Earning a masters degree in business after completing medical school can help doctors who are considering running their own practices. Medical professionals who pursue this education may also find that working in hospitals could lead them to higher salaries.
Boston University (BU) recently held a conference which focused on the MD/MBA degree program that has been made available to interested students over the last five years. This higher education opportunity allows students with medical backgrounds to gain better understanding of business skills needed for a private practice to later implement them in their jobs.
"I see myself as a future clinician first," said Sunil Nair, a prospective doctor, quoted by the university website. She added that "I wanted the business and management skills of a dual degree to engage with nonclinician leaders in quality improvement, cost and operational efficiency."
BU's dual business-medical program is one of the 60 that are now offered at nearly half of the medical schools across the country, the news source further added.
Depending on the field, position and years of experience, the average annual salaries in 2008 for MBA degree holders ranged from $73,510 to 171,583, according to PayScale.com, a research company.
