Global health care is one of the fastest growing sectors in 2019, with Deloitte expecting spending to reach $10.059 trillion by 2022. Thanks to aging and growing populations, you can expect a greater prevalence of chronic diseases, ultimately translating to exponential advances in innovative technologies, medicines, and care.
For MBA graduates, this translates into a huge potential for job opportunities in the health care sector. In particular, there are opportunities for:
- New innovative technologies and personalized programs to engage with consumers.
- Better data security and ownership.
- Increased health care delivery and mobility.
One of the companies at the leading edge of this sector is Merck.
About Merck
Merck & Co is an American pharmaceutical company—one of the largest in the world. Established in 1891 as a U.S. subsidiary of the German company, Merck (founded in 1668), the company is the seventh largest pharmaceutical companies by market capitalization and revenue. Headquartered in Kenilworth, New Jersey, Merck ranks 78th on the Fortune 500.
In August 2014, Merck research and development had led to the approval of more new pharmaceuticals than any other company. The work covers six key research areas including:
- Diabetes
- Infectious diseases such as Hepatitis C, Antimicrobial Resistance, and HIV
- Oncology
- Vaccines
- Animal Health
- Cardiovascular, Sleep Disorders, and Women’s Health
The company has locations in San Francisco, Los Angeles, Kansas City, Philadelphia, Charlottesville, New York City, Boston, and more.
Key Facts About Merck
- 293 million people reached
- 69,000 employees
- 34 percent of roles held by women
- Operations in more than 140 countries
- Spent $7.9 billion in R&D in 2018
- $40.122 billion in revenue
- $2.394 billion in net income
Working at Merck as an MBA
As one of the largest pharmaceutical companies in the world, there are many opportunities for MBA graduates at Merck. Not only does the company offer multiple internships for nine to eleven weeks every summer, but for recent graduates, there’s an opportunity for a four- to six-month co-op assignment. MBAs can choose to work in a variety of fields including:
- Human and Animal Research and Development
- Communications
- Supply Chain
- Engineering & Manufacturing
- Finance
- Marketing
- Information Technology
There are also entry-level and rotation programs to help develop an MBA graduate’s further develop their skills. These are ideal for any MBA graduate looking to improve their forward momentum. A few examples include:
- The Leadership Development Program: The LDP is a three-year opportunity to experience the core work necessary to manufacture and supply Merck’s products. Each employee will have three, one-year rotations aligned to either a technical, business, or operations focus.
- The Early Emerging Talent Rotation Program: The ETR program offers recent college graduates a chance to experience different areas of IT over two and a half years.
What Employees Have to Say
According to Payscale, Merck employers rank the company:
- 3.6 stars out of 5 for satisfaction
- Highly stressful
- Highly flexible
And on Glassdoor, out of 3,200 reviews, Merck receives a 3.7 out of 5 stars overall with 73 percent of employers willing to recommend the company to a friend. According to those self-same employers, the pros of working at Merck include a “great culture and work-life balance” (264 reviews) and “good benefits and good training programs” (223 reviews). On the flip side, 85 reviewers state that upper management doesn’t value staff. There’s also not as much opportunity for growth as there was in the past.
According to Payscale, Meck employees earn an average annual salary of $97,000; the average is higher for those with MBA degrees.
Here’s what employees have to say about working at Merck.
So, it should be no surprise that Merck is ranked 4th in Best Workplaces for Giving Back in 2018 and 10th in Best Workplaces in Health Care & Biopharma in 2018.
Compensation and Benefits
While there is no specific information available about how much an MBA at Merck can expect to earn, the average employee salary is $97,000, according to Payscale. When you break that down by degree, a Master of Science employee earns between $63k and $140k, and a Bachelor of Business Administration (BBA) earns between $59k and $175k. MBAs can assume that they would be on the upper end of that scale.
As for benefits, Merck offers company-wide health and wellness, retirement, and insurance programs. There’s a defined pension plan as well as a 401(k) plan and more.
Starting a Merck Career
To start your career at Merck, MBAs should first consider a summer internship. These internships last 9 to 11 weeks and occur between June and August. Most internship opportunities can be found in Kenilworth, New Jersey. However, there are also internships in Boston, Philadelphia, Austin, San Francisco, and West Point. You can find a full list here.
The Perfect MBA For a Merck Career
According to Paysa, around 7 percent of Merck employees have an MBA. As for where they earn that degree, that’s up to you. Several of the most prominent business schools to offer a healthcare-focused MBA include:
- The Wharton School – Health Care Management MBA
- Columbia Business School – Health and Pharmaceutical Management MBA
- UCLA Anderson – Health Care Management MBA
As for where Merck recruits. They head to universities across the U.S. including Penn State, Rutgers, NC State, Carnegie Mellon, Stanford University, Temple University, Drexel University, and more. Find more upcoming recruiting events here.