According to the U.S. Census Bureau, the health care industry is the largest employer in the United States. As the industry continues to grow, it presents exciting opportunities for individuals who are eager to have a meaningful impact. Health care encompasses a wide array of sectors, including biotechnology, medical devices, diagnostics, big pharma, health technology, insurance, and government services. Given the industry’s broad scope, pursuing an MBA with a health care focus offers a pathway to leadership in these dynamic areas. In this post, we touch on a few of the key benefits of pursuing such an MBA and highlight some of the top programs you might consider for earning one.
Career Development
An MBA with a health care focus provides a solid foundation in health care management, combining business disciplines such as finance, marketing, and leadership with specialized health care courses. Programs that offer health care MBA options allow for targeted career development through industry events, networking, and dedicated recruiting opportunities. Whether you are already an established health care professional or are looking to transition into the field, earning a health care MBA will prepare you for a leadership role in this rapidly evolving industry.
Average Salaries
The average salary for someone with an MBA in health care management in the United States ranges from $100,000 to $130,000 per year. Graduates of top business schools, such as The Wharton School and the Kellogg School of Management at Northwestern University, often enter health care–related roles with salaries at the upper end of this range or even higher, when sign-on bonuses and equity are also included.
One’s exact salary depends on such factors as experience, location, and specific role. For example, health care consultants earn approximately $130,000 per year, while health care administrators and pharmaceutical managers might see average salaries closer to $120,000. Health care product managers in the biotechnology and pharmaceutical sectors can command even higher salaries, often exceeding $130,000 with bonuses and/or equity.
Choosing a Health Care MBA Program
We recommend evaluating the following elements when considering your health care MBA program options:
- Curriculum: Ensure that the program covers the health care sectors that interest you (e.g., public health, health policy, biotechnology). Some schools even offer a dedicated health care concentration.
- Networking Opportunities: Look for programs with strong ties to health care companies, hospitals, and industry leaders. An active alumni network is critical.
- Location: A school in proximity to an industry hubs such as San Francisco, Boston, or New York can generally offer better access to internships, career opportunities, and networking.
- Joint Degrees: Dual degrees, such as the MD/MBA, MS/MBA, and MPH/MBA, provide the opportunity to develop additional expertise in specific health care fields.
- Career Pathing: Consider the percentage of the school’s graduates who enter the health care industry and which companies actively recruit from the program. Strong alumni representation in the field can also indicate a program’s strength in health care.
Top MBA Programs for Health Care Management
Using these five key considerations, we assessed the health care MBA options at the leading U.S. business schools and have identified what we believe are the top programs for this area (presented in alphabetical order).
Columbia Business School
Columbia Business School (CBS) offers a Healthcare and Pharmaceutical Management Program and an MBA/MPH degree with the Mailman School of Public Health. CBS’s location in New York City offers students access to a major health care and pharmaceutical hub. Approximately 3% of the school’s graduates enter health care careers each year. Well-known alumni in this area include Daniel O’Day, CEO of Gilead Sciences, and Gail Boudreaux, CEO of Elevance Health (formerly Anthem Health).
Duke University’s Fuqua School of Business
Duke Fuqua’s Health Sector Management program is one of the most established health care tracks, offering comprehensive courses in health care markets, biotech, and pharma. Duke also offers MD/MBA and MPP/MBA joint degrees. Roughly 6% of the school’s graduates enter health care roles each year. Among Fuqua’s alumni leaders in health care are Melinda Gates, co-founder of the Bill & Melinda Gates Foundation; Dr. Michael Cuffe, executive vice president and chief clinical officer of HCA Healthcare; and Enrique Alfredo Conterno, former CEO of FibroGen.
Harvard Business School
Harvard Business School (HBS) offers an MBA with a health care track through its Healthcare Initiative, whose courses cover health care strategy, finance, and policy. Approximately 20% of HBS faculty conduct health care research. The school has a dedicated health care mentoring program, career days, speakers, and small dinners in health care, as well as industry-relevant joint degrees, including the MD/MBA, MS/MBA in biotechnology, and MBA/MPP. Roughly 5% of HBS graduates enter health care each year. Well-known HBS alumni in this area include Jonathan Bush, co-founder of athenahealth; Kathy Giusti, founder of the Multiple Myeloma Research Foundation; and Bob Bradway, chairman and CEO of Amgen.
Kellogg School of Management at Northwestern University
Northwestern Kellogg offers a Healthcare at Kellogg pathway with interdisciplinary coursework across the university’s medical and law schools. The new $10 million Healthcare Leadership Center strengthens the program’s health care focus. Approximately 3% of the school’s graduates enter health care roles each year, supported by a strong alumni network and industry connections. Notable Kellogg MBAs in health care include John Prince, president and COO of Optum at UnitedHealth Group, and Dave Mullarkey, CEO at ClearNote Health.
MIT Sloan School of Management
MIT Sloan offers a Healthcare Certificate that covers everything from biotech to health care ventures. The program’s Health Systems Initiative serves as a hub for health care research, and Sloan students benefit from MIT’s broader health care resources, including the MIT Biotech Group and the Martin Trust Center for Entrepreneurship. Roughly 6% of the school’s graduates enter the health care industry each year. Some well-known Sloan alumni include Rebecca L. Schechter, SVP and general manager of DAX at Nuance Communications (Microsoft), and Judith Carol Lewent, former CFO of Merck.
Stanford Graduate School of Business
The Stanford Graduate School of Business (GSB) offers such health care electives as “Innovation in Healthcare” and “Healthcare Operations.” It is also famous for its courses “across the street”—students can cross-register with schools outside of the business school, such as Stanford’s Biodesign Program and the d.school. Located in Silicon Valley, the Stanford GSB connects students with biotech and health tech industries. Its health care–related joint degrees include the MD/MBA and MD/MPP. Approximately 4% of the school’s graduates enter careers in health care each year. Well-known Stanford GSB graduates in health care include Henry McKinnell, former CEO of Pfizer; Dr. Tom Lee, founder of Galileo and One Medical and former chief medical officer at Epocrates; and Miles White, former CEO of Abbott Laboratories.
Tuck School of Business at Dartmouth
Dartmouth Tuck offers a Healthcare Initiative that integrates health care into its curriculum through specialized courses, projects, and extracurricular activities. The school has strong industry connections, giving students opportunities to engage with health care organizations and participate in internships and/or experiential learning through the Tuck Global Consultancy. Tuck’s alumni network, particularly in the health care industry, is robust and influential, with graduates frequently working at top-tier health care firms, consulting firms, and biotechnology companies. Roughly 6% of Tuck graduates enter health care roles each year. Some well-known alumni in this area include Peter Dolan, former CEO of Bristol-Myers Squibb, and Phil Ferneau, co-founder of Borealis Ventures, a life sciences venture capital firm.
University of California Berkeley Haas School of Business
Berkeley Haas offers a joint MBA/MPH degree in collaboration with the UC Berkeley School of Public Health. The school’s proximity to the Bay Area—a biotech and health tech hub—provides students with excellent access to industry connections. Approximately 8% of Haas’s graduates each year pursue health care roles. Joseph Jimenez, former CEO of Novartis; Sarah Krevans, CEO of Sutter Health; and Jennifer Cook, former CEO of GRAIL, represent Haas alumni in health care.
University of Michigan Ross School of Business
Michigan Ross offers a Healthcare and Life Sciences concentration and related dual degrees, including the MBA/MPH and MBA/MHSA. Through the school’s Multidisciplinary Action Projects, students consult on real-world health care projects, some of which are for major pharmaceutical companies and hospitals. Roughly 6% of Ross graduates enter positions in health care each year. Health care leaders from Ross include Michael Pinkert, former CEO of Mental Health Management Services, and Spencer Heaton, chief medical and commercial officer of Lynx.
Wharton School at the University of Pennsylvania
Wharton’s MBA in Health Care Management provides a comprehensive health care–focused curriculum for the more than 70 students who make up a dedicated health care cohort. Wharton has strong ties to the health care industry, offering real-world experience with health care companies, hospitals, and consultancies. The program boasts more than 2,000 alumni in health care management roles. More than 6%, on average, of Wharton MBA graduates (including those outside of the MBA in the Health Care Management program) pursue a career in health care each year. As for related joint degrees, Wharton offers the MD/MBA, MSN, and DMD, among others. Wharton alumni who are leaders in health care include Peter van der Goes, managing partner and global head of mergers and acquisitions for the Healthcare Group at Goldman Sachs; Arthur Collins Jr., former chairman and CEO of Medtronic; and Jason Gorevic, former CEO of Teladoc Health.
Other top business schools to consider with dedicated health care curricula are the Yale School of Management, UNC Kenan-Flagler, Vanderbilt Owen, Cornell Johnson, Jones (Rice University), and Georgetown McDonough.
Pursuing an MBA in health care management offers the opportunity to make a lasting impact in a growing industry. Whether your focus is in biotech, health tech, public health, payors, providers, or pharmaceuticals, these programs prepare you for leadership roles that can shape the future of health care.
