Hi All!
After 8 years in the healthcare sector, I'm looking to transition into IB. How I can best leverage my experience to maximise my appeal as a candidate for an internship or analyst role?
Thanks in advance!
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Based on the most helpful WSO content, here are some strategies to leverage your healthcare experience for a transition into healthcare investment banking:
Highlight Relevant Experience:
Network Strategically:
Prepare for Interviews:
Showcase Your Work Ethic and Adaptability:
Gain Relevant Skills:
Tailor Your Resume:
By leveraging your healthcare experience and strategically preparing for the transition, you can position yourself as a strong candidate for an internship or analyst role in healthcare investment banking. Good luck!
Sources: Advice for summer and return offer rate?, [Experience] Road to PE - Investment Analyst in a MegaFund, Need advice on my internships options for this summer, Q&A: 1st Year Analyst at MM IB, How to Thrive on Your Research Internship
What role do you have, are you a cleaner in a hospital or a doctor?
I worked in operations, consulting, international policy, and research.
When you say you have 8 YoE in Healthcare sector, what specifically is your experience.
Were you a med student? Did you completed FY1/FY2? Specialty Training? Or were you a nurse or a PA?
I worked in operations, consulting, international policy, and research.
You’ll most likely need to get an MBA and transition through there as this is the case for the majority of people looking to pivot into IB
I've looked into it! I'd ideally like to avoid an MBA due to the cost; however, understand if that's my only option.
I tried to do this at the MBA level and failed. I came from more of a clinical operations background. If you come from a finance / accounting / analytical background within the healthcare industry, it should be really easy to make this transition via a top MBA.
Thank you--this helps a lot. What were the greatest barriers you came across?
I came from a healthcare service / provider background. IB advisory in that space tends to be a lot numbers driven (LBOs etc.). Literally had a HR from a target healthcare coverage group bank from my campus gate-keep me from getting a first round interview despite multiple alumni helping me in the process (granted, I don't think many of them really saw me as a top candidate at our school). I didn't have any finance / accounting / business oriented expeirence within healthcare and she essentially took me off the short-list they had. A large reason why this may have happen though is their top candidates at our school were already signed before they reached out for first rounds.
Got a lot less pushback from the few biotech / pharma bankers I spoke to at a boutique healthcare investment bank. Granted, that boutique bank had a few VP / Directors with medical degrees / PhDs. They did hire non-traditionally outside of traditional undergrad / MBA circles.
I’m sorry, but I really don’t think that you really understand or wants what this entails.
You won’t get an analyst role with 8 years of experience. Internship even less so.
You need to figure out what you are bringing to the table, and how to leverage this. An analyst basically has only a lot of time to work, and very little skills, and will learn IB as it goes.
With 8 years of experience, you need to figure out where you can bring your years of experience with you. Forget GS or « bank tiers ». If you can find a boutique or small bank with strong expertise in CRO and regulatory services providers, maybe you can leverage your experience? Do you have i vestment experience? Industry connections? Is there a segment of equity research that would make sense?
Thanks for this! Few follow-up questions/responses to your queries:
- Would I not get such a role just due to the amount of work experience I have (i.e., They would prefer someone fresh out of Uni or at the beginning of their career, rather than someone who's changing career paths)? I would really love to to work in a role where I can learn IB as it goes.
- I don't have any investment experience; however, I do have a lot of connections.
- There are many areas in equity reseach I'm looking into (e.g., healthcare services, healthcare information technology (IT), medical devices, biotechnology, biopharmaceuticals, and specialty pharmaceuticals).
Thanks again!
Start reaching out to those connections and see if they can make introductions. Don't wait around too much. Just having strong connections doesn't guarantee they will be willing to help you if you lack the skillset for the roles you want. If you're lucky, these connections will help you get a role that gives you a chance to utilize some of your previous skillset and to build a new one that's oriented around what you want.
Thanks again everyone for your help!
MBA probably the only realistic option, that said your work exp is strong / seen as an advantage as 'non traditional'. Just need to execute and GMAT and you should be fine
Sounds good! Thank you!
can you start as an A1 with 0 modelling experience?
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