I am currently a Strat Consultant at a Top 5 firm based in Southeast Asia (but US citizen) and I am reaching out to anyone with Pharma / Healthcare experience to give me some advice!
I have about 4 years experience in consulting with a strong track record and fast progression, and now I am looking to enter the Pharma Industry. Most of my consulting experience is in Consumer Goods like personal electronics, FMCG and some cosmetics, meaning I don't have much experience in Pharma specifically. What would be the best way to make the jump?
I was thinking going back to school would be a good option, but then which program is most likely to put me ahead? I have heard many people say how Pharma companies highly value an MBA, but given my consulting background wouldn't it be better to go after a scientific degree or even a Pharma themed master in Management? How are Master in Public Policy degrees viewed?
Thanks to anyone who provides advice!
On making the transition to Pharma, it could depend on the kind of role you are seeking. If a brand role in marketing, your consumer products experience could be of interest. Certainly your ex-US experience would be highly valued. If a role in business development, then one needs more depth on the clinical/scientific side.
I would de-emphasize the non-MBA masters. Also I wouldn't suggest a science degree. It depends on what you studied in undergrad, but I wouldn't see effort and time spent on a general science degree at your stage being high ROI.
One path is a MBA. Some schools have specific focus programs in Pharma or otherwise strong industry links and internship pathways - Wharton, Sloan, and Fuqua come readily to mind.
Another is to switch to a life sciences focused consulting firm or dedicated life sciences practice. You would get a lot of useful experience in Pharma - more rapidly than in a line role in a company.
Optimal success could combine both paths, in either order. Think a 4-5 year investment in building industry knowledge and contacts that could translate into a Senior Manager or Director level role.
Happy to follow up with more specific thoughts based on your interests and plans...
Thanks for the reply! That's exactly what I was looking for and what you said has more or less confirmed what I have been hearing from other sources. Indeed I would be looking for a product manager / marketing role.
I think my first step will be to try to switch to the Life Science practice at my firm. We have a healthy practice with big clients but I am worried that due to office politics my current partner would cause trouble with future promotions if I left his team... I also have an interview with IMS coming up but not sure if I should hope for much given my lack of Life Science experience.
Optimally I was hoping to avoid a full 2-year MBA as my wife will be giving birth soon and I'm not sure moving back to the US fits with our family plans at the moment, especially when I will have zero income as a student. But I agree its a strong move forward in my career. Do you know of any 1-year programs (HEC? INSEAD?) with Pharma tie ups?
I suppose most importantly, what do you think about the prospects of a career in Pharma vs. retail / consumer goods? (I assume you are in the industry) My thoughts are that on the plus side the products are very interesting & complex, the work is satisfying because of strong sense of purpose, and there will be a lot of opportunities for growth especially in Asia. Not to mention great pay. On the negative side is is relatively slower moving and regulated, with the business side sometimes taking a backseat to the R&D / product development side. Also I have heard the people are generally older. What do you think in terms of career prospects?
I did pharma consulting before switching to IB. Reach out to firms that have decent pharma and life sciences practices. Big 4 has some, ZS, LEK, Clearview, Inventiv and a number of others have decent groups. PM me I can give better color on the shop I was at.
Thanks again for the response. My biggest question would be how important / necessary is it to have an MBA as a product manager / marketing manager in Pharma? I have 4 years of consulting experience from a top firm so I don't think the educational component of an MBA would have the same benefit for me as for some other people, and honestly its just very difficult to logistically / financially to do an MBA.
Is it still realistic to think I can follow that path without an MBA or should I seriously start planning on how to make the MBA happen? If it is necessary, how are non-US MBAs viewed and which would be the best for Life Science?
Thanks!
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