MD/Master of Business Administration (MBA)

PSOM medical students should read through the MD/Master's Overview page for general information applicable across all MD/Master's programs. This page provides specific information regarding the MD/ Master of Business Administration (MD/MBA).

The MD/MBA program is designed for Perelman medical students interested in integrating the study of medicine with training in managerial, financial, and technical expertise in the health care field. The majority of students who matriculate in the MD/MBA program enroll in the Health Care Management major at Wharton, but other majors are also available.

Please note that the guidelines below apply only to Perelman medical students. If you are a medical student at another institution, you may apply for the MBA program directly, but the information provided here will not be applicable.

The first step of the process is to gather information regarding the MD/MBA program. Helpful resources and key contacts include:

  • MBA Program — the Master of Business Administration program website provides detailed information on the program and application process.
  • Wharton Health Care Management — this website provides more specific information on the Health Care Management major within the MBA Program at Wharton.
  • "Visit Wharton" — this webpage provides information on MBA information sessions, visiting classes, etc. These are good resources if you have questions about the MBA program in general, financial aid, admissions process, etc.
  • MD/MBA Information Session — every fall the Combined Degree office holds an MD/MBA Information Session for medical students. Email announcements are sent out to students prior to the event. Check out the full recording of the October 3, 2022 MD/MBA info session here
  • Advisory Deans — students should discuss career and academic goals with their Advisory Dean and other faculty advisors.
  • June Kinney — candidates should contact June Kinney, Director of the MBA Program in Health Care Management, to discuss the MBA program.
  • Assoc Director of CD Office — students are encouraged to contact the Associate Director of Combined Degree Office, to discuss their interest in a Master's program.
  • Perelman School of Medicine (PSOM) Financial Aid Office — as soon as a student is considering the pursuit of an MD/Masters program, students should reach out to Mike Sabara financial aid counseling and planning.
  • Wharton Health Care Management - Student profiles — here you will find current/recent student profiles, Resume Books with info on graduates, summer internship placement lists, and permanent placement lists. All of these resources indicate different ways you can use the MBA.
  • MD/MBA Student Directory — here you will find current/recent MD/MBA student profiles, and student advice. Prospective students are encouraged to speak directly with current students for more complete and nuanced insights. As always, it is also a good idea to seek out advice from multiple resources (e.g., including faculty mentors, Advisory Deans, etc.) to help inform your decisions.
  • PennHealthX Events — PennHealthX offers a range of events on topics related to healthcare management, entrepreneurship, and technology.
  • Take an MBA Course — some students may choose to take an MBA course to learn and explore the field of health care management before applying to Wharton (check out the Policies & Procedures section for how to register).

Program Requirements:

The MBA degree is composed of 19 credit units:

  • 15 credits at Wharton*
  • 4 transfer credits from the Perelman School of Medicine

Required Course Units: 19

* Note: Wharton tuition includes up to 16.5 credits. 15 credits are required for the degree.

For information on the curriculum of the MBA program, visit the Wharton MBA. Here you will find information on the curriculum structure, majors, electives, and other program information.

Perelman medical students interested in the MBA program may opt to take a MBA course in the Fall or Spring of their first year or Fall of their second year of Medical School, before applying to Wharton, so they have a better understanding of what the program entails. The course:

  1. can’t be one of the core requirements;
  2. won’t count toward the 15 credits required for the MBA (should the student be accepted at a later date); and
  3. can be taken as pass/fail.

For more details about core courses and elective courses, see the course work descriptions.


The MBA program offers a plethora of opportunities to engage and connect with potential mentors and MBA alumni. Students are also encouraged to be proactive about connecting and developing a network of career mentors.


Students are enrolled in the MD program full time for the first three years and in MBA course work full time during year 4. During the summer between year 4 and 5, typically students participate in a business internship. However, some students have elected to do research or additional clinical rotations during the summer. Then in year 5, students will do a semester at Wharton and a semester at the Medical School – students can choose to do either one in Fall and the other in Spring.

MD/MBA Degree Completion Time:  5 years

MD/MBA Study Plan:

The 5-year curriculum for the combined MD/MBA below is meant to provide details about the timing of MBA course work for those who are already familiar with the PSOM curriculum.

Year Fall Spring Summer Tuition and Billing Maximum Direct Loan Eligibility
1 MD curriculum (Modules 1,3,6) MD curriculum
(Modules 2,3,6)
  MD Tuition Fall and Spring $42,722
2 MD curriculum (Modules 2,3,6) MD curriculum
(Modules 4,6)
MD curriculum
(Modules 4,6)
MD Tuition Fall and Spring $47,167
3 MD curriculum (Modules 4,6) Boards 1
MD curriculum (Module 5)

Boards 2
MD curriculum
(Module 5)*

MD Tuition Fall and Spring $47,167
4 Wharton MBA Wharton MBA Wharton internship** Wharton Tuition Fall and Spring $33,000
5 Residency interviewing
MD curriculum (Module 5)***
Residency interviewing
Wharton MBA***
  MD Tuition Fall; Wharton Tuition Spring $20,250 fall;
$16,500 spring

* Check when Wharton’s pre-term and the Health Care Management major’s pre-term sessions are in July/August.
** Typically students participate in a business internship in Summer of year 4. However, some students have elected to do research or additional clinical rotations during the summer.
*** These semesters are interchangeable. Students need to notify each School in the Spring of year 4, so they are billed correctly. They also need to apply to both schools if financial aid is needed.

Medical School Planning:

There are several things to keep in mind when making your Medical School plans:

Admissions Process:

There are two steps to applying:

  1. Apply to the Master of Business Administration Program
    Perelman medical students who wish to enroll in the MD/MBA program must take the GMAT or GRE exam and must submit an application directly to the Wharton School for the MBA program. Please see the MBA Application Guide and the Wharton Admissions website for further information.
  2. Submit Master's Program Registration Form to the Associate Director of the Combined Degree and Physician Scholar Programs Office.

Application Timetable:

All Perelman medical students must apply in Round 1 of their 3rd year of Medical School. The MD/MBA application will not be accepted at any other time. An MD/MBA Information Session is scheduled each fall for current medical students who are interested in the MD/MBA program as well as other opportunities at Wharton. Advising is also available through the Combined Degree Office and Wharton to assist students in considering their career interests and plans.

Application deadline: 3rd year, Round 1 - ONLY

Course Registration:

If you are a current MD student who wants to register for a course before applying to the program, fill out the MD Student Request for MaC Course Registration to begin the process. If students have any questions or encounter any challenges with this process, please contact the PSOM Registrar’s Office.


Admitted students should immediately notify their Advisory Dean, the Combined Degree Office, Registrar’s Office, and the Financial Aid Office.

Financial Aid:

As soon as a Perelman medical student is considering the pursuit of an MD/Masters Program, financial aid counseling and planning is essential. Students should contact Michael Sabara, Director of Financial Services.  He is available to help explain program costs, the financial aid process, funding options and how to apply for financial aid. Here are some things to consider:

  1. When paying Medical School tuition and registered as a medical student, an individual can retain his/her MD Scholarship (for tuition/living expenses) and has a Direct loan eligibility of $40,500.  When a student is registered as a full-time MBA student, they are not eligible for MD Scholarship (for tuition/living expenses) and has a Direct loan eligibility of $20,500.  In accordance with federal regulations, all sources of aid (loan, scholarships, fellowships,) cannot exceed the student budget.
  2. Direct loans have aggregate limits, which are cumulative and include any undergraduate, graduate, and medical school loans borrowed in the Direct loan program. For any semester when a student is a full-time MBA student or a full-time MD student, the program aggregate limit is $224,000.
  3. Students needing loans are required to meet with Michael Sabara.

Scholarship Funding:

All applicants, including Penn Med applicants, are automatically considered for Wharton Fellowships. There is no special application required.

For more information regarding the MD/MBA program, contact:


For Health Care Management only
June Kinney
Director, MBA Program in Health Care Management
The Wharton School
University of Pennsylvania
204 Colonial Penn Center
3641 Locust Walk
Philadelphia, PA 19104-6218

MBA Admissions & Financial Aid Office
The Wharton School
University of Pennsylvania
420 John M. Huntsman Hall
3730 Walnut Street
Philadelphia, PA 19104-6340
go to Wharton MBA to arrange an interview

Perelman School of Medicine:

Francia G. Portacio, MPH
Associate Director
Combined Degree and Physician Scholar Programs Office
Jordan Medical Education Ctr, 6th Floor
3400 Civic Center Blvd, BLDG 421
Philadelphia, PA 19104-5162

Jordan Medical Education Ctr, 6th Floor
3400 Civic Center Blvd, BLDG 421
Philadelphia, PA 19104-5162

Michael Sabara
Director of Financial Services
Financial Aid Office
Jordan Medical Education Ctr, 6th Floor
3400 Civic Center Blvd, BLDG 421
Philadelphia, PA 19104-5162


1. Are there opportunities to participate in healthcare business-oriented activities?
Yes. There are many opportunities at the Perelman School of Medicine and throughout Penn. Here are several, which Penn MD/MBA students have suggested:


1. When should I take the GMAT or GRE?
There is no recommended time to take the GMAT or GRE. Some students study and take the GMAT or GRE during the summer after their 1st year of Medical School. Other students study and take it over a winter break. It is up to the student to determine when the best time is.

2. Does Wharton have a preference between the GMAT or GRE?
No. Wharton accepts either.

3. How many Perelman medical students apply each year? How many of those students are accepted?
Each year roughly 8-12 Perelman medical students apply for the MD/MBA program. Acceptance rates vary each year.

Medical School

1. Any planning considerations when choosing Medical School electives?
As you plan your Medical School electives, please keep in mind that Wharton has a month-long Pre-term session that is required of all students. It is typically the month of August. In addition, the Health Care Management program has a two-day Pre-term session (just prior to the Wharton Pre-term), which is typically at the end of July. You are strongly encouraged to check on the exact dates, so there is not a conflict with a July elective (if you choose to do one). For more information on Pre-term, visit the Wharton MBA.

2. Any advice on choosing to finish the program in the Fall versus the Spring semester of the last year?
Perelman medical students may take their final semester of Business School courses either in the Fall or Spring of their 5th year. Most students elect to take the final Business School semester in the Spring, so they have time in the Fall to submit their residency applications and go on interviews. However, residency interviews usually continue through January and sometimes early February, so you will need to contact your Wharton instructors, if you know you will miss class due to an interview.


1. What is the course workload like at Wharton?
The course workload is comparable to other graduate programs. MD/MBA students have found the workload to be manageable overall.

2. Does Wharton offer scholarships to MD/MBA students?
Wharton does not have scholarships specifically for Perelman medical students. However, medical students are eligible to apply for Wharton’s grants and scholarships. All medical students who are HCM Majors will be considered for Kaiser Fellowships available only to HCM Majors. Please note that Wharton has a different financial aid process than the Perelman School of Medicine, so you will want to contact Wharton’s Financial Aid office to learn more about their process.

3. Are Perelman medical students only able to apply to the Health Care Management major?
No, students are welcome to apply to whichever Wharton major they are interested in, but all (or nearly all) MD/MBA students have enrolled in the Health Care Management Major because of its obvious relevance to a career in medicine and business.


1. What can MD/MBAs do with their degree after residency?
MD/MBAs have gone into a broad range of career paths such as an academic physician, owner of a clinical practice, director in a hospital, consultant in the business world, healthcare policy researcher, etc. The business skills you learn at Wharton are transferable in many fields and positions. For information on recent graduates, check out the Resume Books on Wharton's website.


Please note that policies concerning admissions, curriculum, funding, and financial aid are subject to change. Additionally, though variations in the curriculum may be possible, any change will need prior approval and may have financial implications. This website is meant to provide preliminary general overview information only. Students interested in or enrolled in the program should seek personal advising from relevant faculty and staff.