Which Advanced Degree Will Be Right for a Nonclinical Career?

Apr 13, 2021

This week, I spend a few minutes discussing which advanced degree to consider pursuing to advance your career. This issue was triggered by a listener’s question. And it truly made me think more deeply about the issue.

I start by listing the general principles to consider when deciding on which advanced degree to pursue if any. There is no randomized controlled study to apply to the decision. But my comments reflect my opinion based on my observations and conversations with other physicians.

 

Here are the most important considerations I would keep in mind when thinking about his major decision:

1. There are many physician executives, including CMOs and CEOs, who have NO business degree.
2. There are many CMOs who started with NO business degree and completed one AFTER getting their first CMO position.
3. There are 3 primary benefits to obtaining an advanced degree:
   • You learn useful skills, techniques, concepts, tools, etc. Note, however, that most, if not all, can be learned through reading, online courses, and courses through organizations such as the American Association for Physician Leadership.
   • You demonstrate your commitment and provide evidence of knowledge of business, management, finances, etc. that you might NOT be able to demonstrate otherwise.
   • You develop a network of colleagues working in teams while completing your degree. Be sure to ask about this aspect - the vitality of the alumni group and connections developed - do they persist beyond the formal education?
4. These decisions do not exist in a vacuum, and the most important issues to consider are:
   
   • The above benefits;
   • The cost;
   • The time needed to participate on a weekly or monthly basis (5 hours, 20 hours, full time?);
   • The total time needed to complete the degree (as little as a year, even while working your regular job, or as long as 3 or 4 years completing one course per semester or less); and,
   • Whether to attend a big name school to further enhance your prospects for highly competitive positions.

Those are the major issues I would address when considering an advanced degree. I expound on each of these issues during this week's episode.

 

For links mentioned during this episode, visit the show notes at nonclinicalphysicians.com/which-advanced-degree/

Get an updated edition of the FREE GUIDE to 10 Nonclinical Careers at nonclinicalphysicians.com/freeguide.

Get a list of 70 nontraditional jobs at nonclinicalphysicians.com/70jobs.