Somewhere Between A PhD And An MBA: The PSM

from the for-scientifically-minded-business-people dept

Knowledge about science and math is becoming increasingly important in the business world, and while many companies are hiring PhDs for these purposes, in many cases that's overkill. Meanwhile, MBAs who have no math or science background are having trouble managing in companies where it would help to have some more advanced knowledge. This gap is leading to the rise of a new degree for management professionals with a scientific or mathematical skills called the Professional Science Masters (PSM) degree. While many students graduating with one are discovering that they still need to explain to potential employers just what it means, they're also finding many companies who are looking for exactly that mix of skills. While more academic types may get a bit upset at turning science and math into more of a professional arena, it seems like a useful course of study that could help out many companies. Still, many MBA programs have been trying to cater to specific areas including math and science, and it seems likely that these will end up competing with the PSM programs. A good MBA program at a larger school with a strong science or math department could easily offer a similar course of studies without the student having to explain just what their degree really is.

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  • identicon
    Ryan, 19 Jul 2004 @ 3:31pm

    Cambridge's Master's in Bioscience Enterprise

    I was definitely drawn by this trend. I was part of the first run of the biotech/MBA fusion run by Cambridge university and MIT (called the Master's in Bioscience Enterprise). It seemed to cater to exactly the skill set that was mentioned and so far seems to have been a worthwhile alternative to a generic MBA (particularly as I'm already specialised in the Pharma/Biotech industry). http://www.bio.cam.ac.uk/bioenterprise/

    reply to this | link to this | view in chronology ]

  • identicon
    dorpus, 19 Jul 2004 @ 8:36pm

    Do they train leaders?

    The most consistent complaints I've heard about MBA programs is that they produce well-educated wonks who lack the guts to be good leaders.

    reply to this | link to this | view in chronology ]


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