This article was contributed by Dr. Rohan Kesarkar, Assistant Professor, Healthcare Management, Welingkar Institute of Management Development & Research, Mumbai
A variety of options are available to pursue after graduation in Lifesciences. Since this decision is critical in shaping your career, proper research is a must before you take any step. While some students think of taking up a job directly after graduation, others might select a postgraduate course or even venture into start-ups.
Technology trends like AI/ML, 3D printing, Augmented reality, RPA, Cloud, Blockchain and IoT are rapidly changing the current and future jobs. Thus to match the cut-throat competition and become industry-relevant/ready, it is wise to pursue higher education after graduation. Higher education provides in-depth knowledge of a particular field/segment, better market idea by experiential learning, enhanced career opportunity and higher pay.
List of professional courses after graduation:
- ME/MTech: Technical degree like MTech/ME holds a great value in the market and many engineering colleges and universities offer these courses in various specializations.
- MBA/PGDM: A two year MBA/Post-Graduate Diploma in Management has been one of the most preferred courses among millennials. Since most of the PGDM courses are offered by autonomous colleges, the syllabus of PGDM is usually updated and more industry-relevant compared to MBA.
- PGP: Post Graduate Program is also a management course but of a shorter duration. Although PGP is open for both fresher’s as well as experienced individuals, it is usually opted by experienced individuals who are working but want to upgrade their skills.
- MSc/MPharm/MDS/MPT: Attaining master’s degree increases your expertise and you should pursue these if you are keen on a technical or clinical career. If you wish to pursue a PhD, a master’s degree is a good idea.
Once you have decided on a post-graduation course, you face the dilemma of selecting a specialization. Healthcare management is one such specialization which has shown a prospective increase in job opportunities in the past decade as per ‘The Future of Job Report 2018’, World Economic Forum. Healthcare industry is growing at 17% CAGR which is 3 times with the current GDP growth rate in India. Healthcare management courses provide you with domain knowledge in the healthcare sector and equip with general management skills. Healthcare domain knowledge helps in developing a niche profile which leads to less competition compared to a general PGDM/MBA.
Integration of emerging technology like AI, wearable, IoT and machine learning in healthcare has created vast opportunities for students in healthcare segments like Health Insurance, Healthcare IT, Hospital administration, Consultancy, Data analytics, Pharmaceuticals, Medical Devices, and Diagnostics. Due to lack of access to quality healthcare, the Healthcare sector will continue to remain a recession-proof sector for many more decades.
To conclude, getting a post-graduate degree helps to stand your ground with the changing trends and raises your chances of not only getting a well-paying and relevant job but also sustaining a satisfying career once you get a job.
These are the author’s personal views.