Jessica.groach@online-degrees.net
Online Degrees Columnist
The stereotypical scientist may work alone in his cold laboratory all day, but in reality, scientists need to manage projects, balance budgets, and market products. That's why an MBA makes sense.
Technology-based jobs are growing so rapidly that it's hard to keep up. Biotech companies alone will have grown by 3 million between 2000 and 2010. But no one ever hears about high-tech companies that failed because scientists don't make good managers. Can you say "Dot-Com Crash"?
Business Savvy
Even if your passion is science or math, understanding business is crucial to your professional success. The product you develop, the vaccine you discover, or the process you simplify will still have to marketed, managed, budgeted, and sold. Most high-tech companies rely on venture capital to get on their feet, and venture capitalists invest in management teams, not scientists. David Anthony, a partner in the venture capital firm 21 Ventures in New York says, "I can guarantee with 100% certainty that today's scientist will be involved at some level with a venture-backed company."MBA Programs for Scientists
That's why Anthony has helped develop a one-year accelerated MBA program for life science graduates at the University of Alabama. And he's not alone. Colleges and universities all over the country are realizing that a career in science or math doesn't make much sense without the MBA to complement it. These schools now offer part-time, accelerated, or distance-learning MBAs designed specifically for scientists and mathematicians. Those with PhDs need not fear another round of intense schooling. MBA programs like the accelerated or distance-learning MBA allow these graduates to work while boning up on their business skills.The results? Future managers who are just as comfortable in the laboratory as they are in the boardroom.
Sources:
USA Today
Nature.com's "Nature Jobs"
