You may be a good match for a masters in pharmaceutical management if you are the type of person with a strong leader and yet have an interest in the pharmaceutical industry. The pharmaceutical management career advancing degree can offer the successful candidate a vast variety of options once complete.
Pharmaceutical Management Education and Training
Throughout the selection process some educational institutions may appear somewhat different from others however, it is important to recognize that in general all of them will be quite similar in how they choose their students. One of the most important aspects for all of the institutions will include students who have a strong academic standing. Many schools expect their candidates to have completed a bachelors degree.
Either the graduate management admission test (GMAT) or the graduate record exam (GRE) is often used to help secure a place in the program. While it is not necessarily the case with all admissions offices often, these tests are mandatory to be considered as part of the program. Students are encouraged to have completed one of these tests successfully before attempting to submit an application.
While some institutions will require their prospective students to have at least a minimal amount of job experience that is not always the case with all programs. It is however, an asset to have had to experience in the field whenever possible.
Many educational institutions require their students to include a personally written document that offers the selection committee an explanation as too why the student is interested in the program. This document along with recommendation letters from others in support of their decision to pursue their career is often submitted with the prospective student’s application.
On average most masters programs take between two and four years to complete. The amount of time needed is often dictated by the program you have chosen. The basic requirements to successfully obtain the degree will remain the same in all programs however, you may find that there are some minimal differences. Business courses may include marketing, management, finance and accounting, while courses from the pharmaceutical concentration may come from areas like health administration, public health topics and health informatics.
Most commonly a variety of business-related topics will be covered, pharmaceutical topics such as anatomy, ethical aspects of this type of work and research related studies are among the courses you are likely to see. Research projects as well an internship are often also an important part of the process and requires completion before the program ends.
Careers in Pharmaceutical Management
Once you have completed all requirements of the masters in pharmaceutical management degree, including the internships you will then have the opportunity to assume many different leadership roles. Research labs, biotechnology firms, as well as sales companies are often exciting choices. Management roles within the community and the government are also a popular choice for many people.
Estimated Income and Projected Job Outlook
The pay associated with the various jobs can range between $40,000 and $120,000 a year depending on one’s responsibilities and rank. These numbers tend to vary depending on which employment role you have taken on.
The median wage of pharmacists was $111,570 in 2010. The lowest 10% earned less than $82,090, and the top 10% earned more than $138,620. Employment of pharmacists is expected to increase by 25 percent from 2010 to 2020 (Bureau of Labor Statistics – BLS).
The pharmaceutical industry has continued to grow steadily in recent years and has continued to need those who can lead others within the industry in a strong role. As it continues to grow steadily, it is suggested that there career options in this field are varied at present for those with a masters in pharmaceutical management and related areas.
Programs in Health Administration & Management
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