How to Prepare for Healthcare/Pharma MBA
Hi !! I am Dr. Vinita Das, currently pursuing Pharmaceutical management in NMIMS 2021–23 batch.
Transitioning from non-math background to crack exams such as CAT, NMAT was a interesting and difficult journey. I will share you my experiences and tips for obtaining Healthcare MBA in the most sought after colleges
My total preparation time was around 9 months from April 2020 to Jan 2021. In the end I was able to get into most renowned colleges like NMIMS Mumbai, Goa Institute of Management, K. J. Somaiya Institute of Management and SIHS. My next goal is to learn as much as possible and kick start my career in the Pharma industry. Without further back story let us get into the deeds ! :)
Why Pharma MBA?
MBA degree is around for more than a century but its relatively new compared to other disciplines. But it has so much traction and need. In recent years MBA specialization in areas such as Finance, Supply Chain, Healthcare, Pharma, Analytics has gained more popularity. Here are the top reasons for choosing a path in Pharma management
- The number one reason for doing any degree is to learn. Acquiring knowledge of working of Pharma business is the key motivation for MBA healthcare aspirants
- Indian Pharma industry is growing. With cost efficiency, Economic drivers, friendly policies and increasing investments Pharma industry growth is almost guaranteed
- Job opportunities and career transition. MBA in Pharma can offer attractive salaries along with variety of interesting roles. Some of the roles are Project Manager, Healthcare consultant, Sales and marketing executive, analytics specialist etc.
- Networking with rich set of Alumni
My shortlist of colleges
Here are list of top colleges that offer Pharma/Healthcare MBA
I ranked this based on online searches, alumni strength, faculty, placements etc.. There is less guidance on internet about Pharma MBA than required !
1) Pick and choose your battles
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There are variety of exams through which colleges shortlist students. Each exam has slightly different
Apart from above list one can write MAT, ATMA, GMAT etc. which are also accepted by some the colleges. As we can see each exam is different in type, length, syllabus and difficulty. The quantity of the exams written does not matter. As long as you write one of these well colleges are going to shortlist you. I made a mistake of writing as many exams as possible to leave no stone unturned. But in hindsight we should pick and choose our battles (exams) as per the college of interest. One wise idea is to write the exam of your choice multiple times (given by SNAP and NMAT) in order to perfect your scores
2) Choosing your preparation
Here students are spoilt for choices. There are plethora of options like IMS, Careerlauncher, TIME, CATking etc. They offer both offline and online coaching.
Here my advice for aspirants is see their free videos on YouTube. You can then choose the coaching center that best suits you.
3) Importance of Mock tests
Test, test, test is the mantra for gaining confidence and brightening your chance to get through the exams. Both sectional tests and full tests are highly important. One need to treat mock test as a real test and try to complete them in one sitting. This will help in time management and lessening your anxiety. Apart from this thoroughly analyzing the areas of improvement is paramount.
4) Getting calls from college is job half done !
Most colleges give less than 50% weightage for entrance tests. MBA admissions evaluate you holistically. Strengthening your profile is highly important. For example you can complete online courses, do some live project, internships, etc. This will help you stand out from the crowd.
5) Confidence is the key
During your preparation you might feel overwhelmed. Everything might not go as you planned. But don't give up. Stay positive, stay confident and believe in yourself .
As the great F1 champion Michael Schumacher once said “Never, ever give up and you should always keep fighting even when there’s only a slightest chance.”
Good luck and see you on the other side !
The outcome is what you put in
I followed this mantra and boom I landed in my dream college “NMIMS, Mumbai”. I hope this article helps in achieving your dreams. And always remember “Chance favors the prepared mind”
