MBA after MBBS: Benefits, Scope, Salary, Jobs, Colleges 2024
An MBA after MBBS is increasingly popular among medical students, offering opportunities in hospital management, medico-management, and pharmaceutical management.
This combination appeals to doctors seeking managerial skills for their practice or venturing into interdisciplinary careers.
MBA after MBBS is an ideal choice for those inclined towards entrepreneurship, clinic management, and various specializations in healthcare administration. It opens avenues for top executive positions in the medical industry, making it a valuable career option.
For MBBS graduates exploring diverse career paths, pursuing an MBA provides a broader scope. In this blog, you can explore the benefits, scope, salary prospects, and top colleges of MBA after MBBS in India for a promising career.
Why pursue an MBA after MBBS?
Choosing an MBA after completing an extensive MBBS journey offers medical students unconventional and rewarding career opportunities. This unique combination empowers doctors to enhance their understanding of hospital operations, healthcare delivery, and treatment processes.
Pursuing specializations like Hospital Management or Medico-Management, exploring entrepreneurial skills, boosting their careers, implementing critical thinking, and avoiding additional medical entrance exams are compelling reasons for MBBS graduates to consider an MBA.
Benefits of MBA after MBBS
- Expanded Work Opportunities: The increasing number of healthcare centers creates more opportunities in hospital administration and management, allowing for the exploration of prospects in healthcare management.
- Salary Enhancement: An MBA in Hospital Management significantly boosts earnings compared to an MBBS degree, with an average annual salary of INR 660,000 as opposed to INR 300,000 for an MBBS doctor in India.
- Entrepreneurial Skills Development: Pursuing an MBA from renowned institutions like IIM provides a platform for enhancing entrepreneurial skills, enabling graduates to stand out and influence the healthcare industry.
- Leadership Opportunities: MBA after MBBS empowers individuals to take leadership roles, allowing them to lead and manage hospitals, providing exceptional services to patients.
- Avoiding PG Course Competition: By opting for MBA after MBBS, candidates can bypass the competition for PG courses in medicine, offering a niche career option with a comparable compensation package.
MBA Courses after MBBS
Here are some of the MBA courses that students can do after MBBS:
|MBA Healthcare Management
|MBA Hospital Management
|MBA Healthcare and Hospital Management
|MBA Hospital Administration
|MBA Healthcare Administration
|PG Diploma Healthcare Management
Admission Process of MBA after MBBS
The MBA after MBBS in India eligibility criteria includes:
- Applicants must have completed their MBBS degree from a UGC and MCI-recognized institution.
- A minimum of 45% - 50% aggregate marks in the graduate degree is usually required.
The admission process for MBA after MBBS is as follows:
- For MBA after MBBS, students can apply to MBA programs through entrance exams like CAT, MAT, XAT, etc.
- Following the exams, students undergo a personal interview, where topics may include quantitative analysis, extracurricular activities, and long-term aspirations.
The MBA after MBBS fees vary among colleges and universities. But the average structure of MBA after MBBS in India fees ranges between ₹60,000 to ₹8,00,000.
MBA after MBBS Colleges in India
Here are the top 10 MBA after MBBS colleges in India:
- Lovely Professional University, Punjab
- International Institute of Health Management Research (IIHMR), Rajasthan
- Hindustan Institute of Technology and Science, Tamil Nadu
- DY Patil University’s School of Management, Maharashtra
- Sanskriti University, Uttar Pradesh
- Galgotias University School of Business, Uttar Pradesh
- Scientific Bio-Minds (SBM), Karnataka
- Gandhi Institute of Technology and Management (GITAM), Andhra Pradesh
- Teerthanker Mahaveer Institute of Management and Technology (TMIMT), Uttar Pradesh
- Rathiram Institute of Management, Uttar Pradesh
MBA after MBBS in IIM
In India, there are currently 20 Indian Institutes of Management (IIMs), each dedicated to equipping their students with expertise in business, finance, marketing, operations, and more, fostering independent and accomplished professionals. The extensive alumni network of IIMs provides valuable support for aspiring doctor-managers, enabling them to venture into entrepreneurship.
An MBA from IIMs enhances career prospects and facilitates growth, empowering doctors to leverage their acquired skills for credibility and establishment.
MBA after MBBS Scope
Upon completion of MBA after MBBS, diverse job opportunities unfold both in India and abroad, offering a broad spectrum for a rewarding career. This combination opens up opportunities for graduates to seamlessly integrate into various business domains.
With an MBA, medical professionals can confidently embark on entrepreneurial ventures, leveraging their trust-centric approach from the medical profession to drive business expansion, potentially reducing the need for additional administrative personnel.
Beyond entrepreneurship, graduates can explore MBA after MBBS jobs like
- Hospital Administrator
- Health Information Manager
- Healthcare Consultant
- other management-oriented positions
with ample opportunities in healthcare product development and management organizations.
The scope for MBA after MBBS in India and MBA after MBBS abroad is vast, offering promising career prospects.
MBA after MBBS Salary Prospects
For a recent graduate, a doctor might initially earn between Rs 20,000 to Rs 40,000 per month in the early years of medical practice. As the doctor accumulates more hands-on experience, the potential income could rise significantly to a range of Rs 9 lakhs to Rs 11 lakhs per annum.
Pursuing an MBA after MBBS not only contributes to an increase in practical experience but also results in a substantial boost in salary.
In the hierarchy of hospital management, doctors with MBA salary in India usually have income ranging from Rs 70,000 to Rs 2.5 lakhs per month.
Moreover, the doctor has the option to establish a hospital or private healthcare firm. Being a doctor doesn't restrict one to medical practice alone; with an MBA, doctors can explore management and business opportunities alongside their medical profession, leading to a more diversified career.
Opting for an MBA after MBBS expands job opportunities, providing essential management skills for effective healthcare facility management. It opens up opportunities for doctors to work in management roles, fostering entrepreneurship.
Find MBA courses after MBBS on Docthub where you can apply to these courses.
1. Which MBA course is best for MBBS students?
MBA in Healthcare Management is considered one of the best courses for MBBS students.
2. Is MBA a good option after MBBS?
Yes, pursuing an MBA after MBBS is a beneficial option as it offers valuable managerial skills, diverse career paths, and the potential for increased earnings in healthcare and related fields to doctors.
3. Can I join IIM after MBBS?
Yes, it is possible to join IIM after MBBS by clearing the relevant MBA entrance exams and meeting the eligibility criteria set by the IIM.
4. Which MBA course is best for MBBS students in the UK?
The MBA in Healthcare Management is often considered the best course for MBBS students in the UK.
5. Why do doctors do an MBA?