Master of Business and Science

4 Innovative Business Science Jobs

Both the STEM and business industries are ever-evolving and dynamic. Within these fields are various careers combining skills from business practices and innovative scientific discoveries. Careers that integrate the best of the two concentrations fall under the distinction of business science. 

This blog offers insight into business science, how it impacts the greater world of commerce and science, and what jobs are available to those pursuing a business science degree. 

What is Business Science? 

Business science is the intersection of production and innovation. Combining STEM skills such as engineering and mathematical processing with medical procedures and devices, business science builds a healthier and more technologically advanced future. 

All the jobs within this field seek to improve the experiences of everyone along the supply chain, from doctors to patients, professors to payors, and everyone in between. While some jobs may look more like traditional business jobs, and others may look more STEM-centered, the complexity of business science integrates the two niches to create more impactful careers. 

With business science, it would be easier for pharmacists to receive the medications they need to dispense to patients, as breakdowns in the supply chain due to poor planning could affect their inventory. The lack of scientific discovery can also affect businesses, as data analytics and mathematical processes are crucial to many organizations and companies. For instance, if a healthcare organization needs more efficient data management, patient records could get lost or mixed up, leading to improper care and harm. Medical device factories need accurate mathematical processes to create the correct amount of each product with the right dimensions and specifications. 

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Business science is necessary for the healthcare and life science industries to function. But what are some specific roles one can have in this field? 

What are Some Business Science Jobs?

There are jobs in various industries and concentrations throughout the world of business science. Here are just a few business science careers: 

Competitive Intelligence Analyst 

Competitive intelligence analysts help companies and healthcare facilities screen, facilitate, automate, and streamline the data collection process. Doctors and CEOs receive the data they need faster through their work, and data threats can be addressed quickly. Analysts gather client data, organize it, and report to the client on their findings to implement improvements over time. 

These analysts smooth the data flow through various touchpoints, leading to more efficient corporations and healthcare systems. 

Competitive intelligence analysts can expect to make around $70,693 a year

Bioprocessing Scientist

Bioprocessing scientists work with living cells and their parts to produce biofuels and therapeutic products. This profession encompasses broad biological knowledge, emphasizing molecular biology, chemical engineering, and manufacturing. 

One of the main goals of bioprocessing science is the development of new, more affordable pharmaceuticals. Scientists in this field also aim to make the processes required to produce pharmaceutical products more efficient. Through their work, healthcare professionals and those working on the logistical side of medicine development have the best tools possible to accomplish their goals. 

Bioprocessing scientists can anticipate a salary of around $118,235

Financial Professional

The title “financial professional” encompasses many roles and career opportunities. People in this industry may work with smaller businesses or large corporations. They help clients with financial decisions, like capital budgeting, financing, payout policies, and risk management. Financial professionals may also work as intermediaries in financial institutions, facilitating transactions or mergers. 

With the rapid growth in the biotechnology industry, there is a great need for skilled financial professionals in the life science and healthcare industries. Individuals in roles that incorporate scientific study need a general understanding of the pillars of STEM and a thorough knowledge of the niche corners of their industry’s inner workings. 

Financial professionals can make a range of salaries, anywhere from $90,309-$155,000 depending on their position. 

Medical Affairs Professional 

Medical affairs professionals help plan medical publications while assisting with in-house medical information collection. They often work with medical devices, gene therapies, drug information, and other facets of the healthcare industry. 

These professionals help take a new treatment from the lab to the patient, guiding it through approval boards and logistic steps. Medical affairs professionals must know about new drugs and how they interact with other medicines on the market. They must effectively communicate this critical information to all parties involved in the production process. The work of medical affairs professionals impacts patients and doctors, as well as other caretakers, medical students, and everyone along the path of medical care. 

Medical affairs professionals can make around $184,687 in their roles

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Do You Need a Master’s in Business Science?

To make the most impact in the business science industry, you should pursue a master of business and science degree. Investing in this education equips you with the same deep skillsets that a business or master of science degree would and qualifies you for positions that need more expertise than only an MBA can provide. A more advanced degree can also secure a higher-paying job, job security, and promotion opportunities. 

Making money is not at the heart of business science, however. The main goal is to improve medical care and scientific advancements for everyone by implementing best business practices to establish and develop scientific methods. 

Keck Graduate Institute: Master of Business and Science 

At Keck Graduate Institute (KGI), we offer a dynamic Master of Business and Science (MBS). Our degree will hone your life science skills and help develop your business know-how, making you an influential member of the corporate and STEM worlds. 

Our courses empower students to develop depth in an area that closely aligns with a specific industry career path. You’ll be taught by dedicated and knowledgeable faculty and graduate with unmatched industry connections and the prestige that only comes from a degree from KGI. 

In addition to comprehensive courses, all MBS students participate in a paid summer internship and a year-long industry capstone project, giving them real-world business experiences and impactful connections with industry leaders.

Read more about what you can do with a Master of Business and Science from KGI in our Careers Guide: Science Applied to Life Like Never Before, Your Guide to Careers in Scientific and Healthcare Fields.

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 Explore our blog for more on the developing field of business science.