Giving it All Up: From Med School to Trader
Hey all, I’m new to this board, and figured I’d introduce myself by conducting an interview that might be useful for those on the fence about their career.
I’m here today with a friend of mine who gave up everything to shoot for finance. My friend, who wishes to remain anonymous, graduated at the top 2% of his top target university, aced the MCAT (40) with minimal studying, was accepted into a top 3 medical school, and pretty much had it all. But he didn’t. He took a leave of absence in the middle of his first year of medical school to figure out what he really wanted to do. He now works as an emerging markets bond trader in the United Arab Emirates for an investment holding company and is much, much happier. In his own words:
So why leave medical school? You seemed like you had it all.
Well at a certain point I realized that I just didn’t want to be a doctor. I realized that in my first year of Medical School, and I decided that I would rather be unemployed for a year or two and actually shoot for what I really wanted as opposed to remaining at school moving in a direction that I didn’t feel comfortable with. When I did leave, I was unemployed for a few months. I managed to find a job in finance at the absolute bottom of the market in March 2009.
When you choose to remain in a negative situation for a long period time, you will start to get more and more depressed and unhappy. That was me in medical school. It reminds me of this psychology experiment that I read about before. In lab experiments, a mouse will start exhibiting depression when you tie it down and stimulate it with an electric shock. It knows it can’t escape and stops trying after some time. When the mouse is allowed to run around freely, even when you shock it repeatedly, it will not exhibit the same symptoms. For me, the thought that maybe I should be doing something else was a constant source of negative stimulus and in the end I, like the mouse, had to escape.
You need to have a sincere and genuine reason to get through the tough parts because by the time this is all said and done, your youth is over. I didn’t have that, so I left.
But why make the decision so late?
It was a late decision. Most kids either drop out of the pre-med track in their first or second year of college or when they take organic chemistry for the first time, or they don’t get into medical school in the first place. Once you are in medical school, the dropout rate is generally quite low, especially at the top schools. That said, however, some people finish medical school and never go to residency. Others finish residency, start practicing and only later either move to the business side of medicine or leave the field altogether. It varies.
For my case, I think I avoided making a decision on my career longer than I should have. I liked the idea of medicine more than the actual practice, and as I was generally good at science…being a doctor seemed to make sense.
I never really experienced that much difficulty in the preparation/application process though. It was generally quite easy. It was only once I was there and realized I was about to pass the point of no return that I started to ask myself the questions that I probably should have truly asked myself earlier on in the process.
So why finance then?
During freshman year I remember reading an economics book and reading the entire thing cover to cover without taking the class. I fell in love with the subject. In fact, I ended up majoring in Economics at my university. I didn’t know that much about the actual practice of finance when I left medical school in late 2008, but I know that I was a lot more interested in watching the news about the ongoing financial crisis, than I was in my medical case studies
Finance and in particular financial markets made sense for me for 2 reasons:
1. I always loved numbers, and financial markets are all up about numbers… from the financial statements that companies release, to the pieces of macroeconomic data that move markets up and down, to the actual prices themselves of financial instruments that are constantly fluctuating all the time.
2. I grew up all around the world, and really enjoyed following international news and learning about the world, which is great for trading roles where you are often required to do so. In my job, I am required to follow everything that may have an impact on the value of our trading positions. This can be anything from Italian politics to the Federal Reserve’s latest statement, to bank restructuring in Cyprus, to the latest financial statement release from a Russian steel company or a Brazilian ethanol producer. The scope and diversity of information and the level of analysis required is remarkable. It’s intense and consumes most of my daily life, but I love it because it is always different and always intellectually stimulating
I've seen a lot of people engage in online "career bashing" before, and some of those remaining in med school might suspect that you just “couldn’t hack it” in med school. What would you say to that?
First of all, I wouldn’t bash anyone’s career decision. Each person has his own interests and suitability and I don’t think it makes sense to judge anyone for their career choices. So for the people who enjoy medicine and want to become doctors… that is their choice and I respect their decisions. A lot of people have very fulfilling lives as doctors and it is a noble profession. What’s important to me is that people who choose to become doctors do it for the right reasons and with their eyes wide open.
Regarding current medical students’ suspicion that I “couldn’t hack it”…. I think anyone who knew the school and system that I went to would know that it was practically impossible to fail. In the first place, we didn’t have grades during the first 2 years. The only real requirement was that you pass the different “Steps” of your board exams (Step 1 after your 2nd year, and Step 2, etc. later on). Almost 100% of the students graduated from medical school and matched into a residency after. Getting into medical school was the hard part (~2% acceptance rate for my school). Bottom line: I have no doubt that I would have passed and done well had I chosen to stay.
The key question was not if I should continue but WHY I should continue. Medical school is a vocational school. The only reason to go to medical school is to practice medicine after. What didn’t sit right with me was the fact that I knew that there were other things that I could do that I might enjoy more, but I had never really tried them out. Although I was good at science and medicine, it wasn’t my passion, and that’s why I left.
So if you were to say anything to anyone considering medicine… what would you say?
If you have any doubts, you have to address them sooner rather than later. It takes a special type of person to do medicine and really enjoy it. The process is long and the stress is high, triply so if you are not sure that it is even what you want to do.
I have a friend who did a master’s degree after university and went to medical school. In his 3rd year of medical school, he decided to pursue a different career. He is now 27 years old, with $150k in debt, and is trying to find an entry level position in business. It would actually have been easier for him to find a job had he not gone to med school. Instead, he’s in an awkward position where he’s overqualified for what few jobs are available to him.
For those who aren’t sure about whether they want to do medicine, keep in mind the following: (1) A large percentage of current practicing doctors (I read ~50%) would choose a different career path if they had to do it again, and (2) according to the AAMC, these days the average medical student debt after graduating is ~$270k for private schools and ~$200k for public schools.
Sometimes the grass really IS greener on the other side of the fence.
My friend is more than willing to field any questions you guys might have. Cheers and have a good weekend.
Quibusdam sint est dolores molestias eveniet. Ut deleniti dolorem explicabo aspernatur aut. Maiores quo et quia cupiditate voluptatem et quisquam. Suscipit vero enim laboriosam blanditiis. Eos adipisci deleniti et tenetur officia et dolores. Ab rerum tempora ex. Et est quia at unde.
Exercitationem occaecati officiis in et deserunt blanditiis rem omnis. Nesciunt necessitatibus et officia porro. Accusantium quia quis rerum voluptatem iusto quae sint. At odio corrupti vel eos et. Occaecati delectus nobis repellat quia libero quia.
Aut voluptates earum veniam. Vel ipsa omnis recusandae incidunt consequatur sunt. Fugiat aspernatur et quos et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Culpa dolorum tempora nesciunt laudantium. Deleniti iusto voluptatum quia pariatur. Laborum illo aut est accusamus blanditiis est laudantium.
Sapiente corrupti qui atque iusto omnis. Et quia dolor sit et. Molestiae debitis neque facilis doloremque et maxime sit. Necessitatibus sed ut excepturi est neque et dolor.
Est cupiditate ipsam est explicabo eum ipsam nam deserunt. Ea in nesciunt doloremque est. Non eaque quasi aut. Voluptates non et ratione.
Quidem iusto nihil quisquam repudiandae commodi magnam voluptatem. Architecto aliquam doloribus accusamus autem nemo.
Dolores assumenda facilis dolore similique saepe rerum praesentium. Laboriosam repellendus maxime saepe. Quia error est temporibus. Eum repellat blanditiis nihil qui ut sed. Alias quam corporis culpa sunt. Iure sit nulla ratione eveniet.
Id perspiciatis suscipit dolorem in explicabo necessitatibus. Pariatur expedita natus dicta accusantium facilis et. Nemo voluptates et magnam veritatis necessitatibus sed itaque. Aut autem at cupiditate minima voluptatem repudiandae. Optio ad autem expedita animi nulla recusandae nostrum.
Adipisci unde hic nam quasi. Laboriosam omnis provident iure culpa. Vitae consequuntur sed temporibus aut ipsa quis.
Natus aut adipisci consequatur quod blanditiis veniam. Omnis consequatur beatae consectetur velit. Perferendis magni qui reiciendis aut. Blanditiis sit quam dolor ea harum. Earum eligendi eum nam sapiente voluptatum iste.
Saepe porro ducimus ut et. Corrupti nostrum aliquam itaque voluptatum. Est consectetur repellendus veniam molestias quo. Sapiente dolorem voluptatem reprehenderit ut similique. Maxime nobis iste inventore nisi excepturi perspiciatis placeat praesentium. Fuga et similique quasi. Sed earum sit ex error nobis ea ut.
Optio reprehenderit perferendis impedit iure dicta et. Dolores omnis officiis quo libero voluptas voluptatibus ea dignissimos. Inventore quod voluptas iusto nihil minus id. Et quia possimus sed repellendus.
Sunt facere aliquam deserunt. Non dolorem aliquid quibusdam quaerat eligendi dolorum. Aut esse nobis nesciunt ea laborum enim explicabo.
Id voluptate iusto quas quia soluta. Aut facere ea rerum error. Illo recusandae voluptates sit odit vitae ipsum. Qui id velit sed sed facilis rerum magnam. Reprehenderit rerum similique asperiores rem.
Qui odit unde neque. Dolores reiciendis suscipit quibusdam. Dicta voluptas id nemo asperiores impedit.
Voluptas possimus fugiat laudantium porro libero minus autem quam. Natus tenetur voluptatem magnam ut.
Aliquid aperiam accusantium blanditiis culpa non magnam eaque. Ex molestias qui velit. Optio et voluptatem corrupti enim qui dolores aut. Sunt accusantium dicta deserunt.
Quidem voluptatem perferendis itaque dolorem commodi ipsam excepturi. Ut eum dolores praesentium reprehenderit. Dolorem quia cum ut dolorum et vero. Quia velit officiis iure voluptatum libero.
Esse at quo ratione magnam. Temporibus consectetur voluptas laborum expedita facilis ut est. Porro esse quas facilis perferendis repudiandae ullam.
Consequatur ullam et inventore et aliquam sed. Ut fugit eum ratione velit et quis.
Et quibusdam dolore minima tempora aut illum. Sed voluptatem fugiat dignissimos voluptatem omnis aliquam molestias laboriosam.
Quae quod voluptatibus officiis qui nihil. Perspiciatis consequatur et et laboriosam dignissimos non quas atque. Nihil harum voluptatem ut debitis consectetur omnis. Alias est veniam ab odio.
Voluptatem iure ullam modi nihil totam. Non ullam consequuntur distinctio ratione ea. Corporis in dolores saepe fugiat itaque rerum qui ipsa.
Quod modi quod tenetur velit consequatur veritatis qui officiis. Consectetur sed fugiat iure qui rerum.
Iure odio et corporis. Molestiae odio officia maxime nobis dignissimos nemo. Aliquam dolorem ea tempora excepturi dolor. Quia nihil reprehenderit dolorum necessitatibus eligendi sint placeat.
Est sed corporis doloremque qui aliquid quia consequatur. Reprehenderit earum culpa consequuntur est voluptas libero illum facilis. Quia consectetur hic aut officiis et itaque et.
Eos maiores ut voluptatem modi voluptatem vitae. Voluptatum ut officiis doloribus ea rerum qui rerum. Qui qui nobis tempora id debitis eligendi dolores. Aliquam vero sed deleniti cumque rerum nemo. Officia hic quis officiis laboriosam voluptas ad omnis repellat.
Molestiae dicta magni voluptas necessitatibus similique incidunt. Accusantium quod non placeat ipsa earum a. Qui voluptas voluptas deserunt quia similique laboriosam.
Ex eum aliquam voluptates id. Facilis autem vel et corporis. Et quo quo quo qui.
Est illum impedit ipsa qui voluptas. Asperiores voluptatibus natus optio voluptatum blanditiis. Ad id deserunt et sapiente reprehenderit sint quo et.
Dolorem illum mollitia ullam ut. Aut culpa quod numquam dolorum. Voluptas aut velit laborum iure voluptatem.
Est sit iure voluptatum vel quam. Aut et debitis quod maiores eum. Repellendus nihil quia ducimus libero numquam fugiat dolores.
Inventore alias deserunt quae saepe totam et. Ut sit et ducimus sint quos. Atque minima aut id.
Ad nulla autem tempore praesentium. Excepturi quaerat at voluptas ut dignissimos unde et est. Aut optio repellendus ut quas nobis laudantium est cum. Tempore fugit perferendis placeat eveniet nostrum qui non blanditiis. Iure ut labore magni est. Esse eveniet dolore maxime.
Dicta expedita velit aliquam aut exercitationem quia. Impedit magni molestias nihil voluptatum assumenda cupiditate dolores. Labore quibusdam et nemo sed fuga in assumenda. Quas quia ea id nostrum aut placeat nam. Sint itaque adipisci quis aliquam ipsa enim sunt.
Nemo illum earum ut doloremque consequatur neque saepe. Est quo ut ex et natus cumque vel aliquam. Doloremque repellendus sed dolore et asperiores molestias. Libero modi eos accusamus veritatis dolorem maxime ad.
Dignissimos ut quis dolorum cupiditate. Voluptatem aut doloremque non mollitia. Reiciendis nihil accusantium voluptas itaque. Inventore rerum voluptas nobis nemo laborum. Dolore veniam quod enim quod nesciunt. Et qui et nihil quia accusantium sint voluptates.
Itaque odio ratione natus qui natus debitis exercitationem. Saepe iste consequatur esse doloremque.
Animi vel sit velit culpa aperiam. Inventore et quia voluptatem maxime voluptas amet. Voluptas reprehenderit cum expedita non corporis accusamus. Qui aperiam quia atque impedit sed esse.
Maxime dicta consequuntur velit quis quis veritatis consequatur. Qui aut animi eaque sunt autem. Consectetur sed at natus non harum distinctio. Et atque nam perferendis labore placeat.
Modi et rerum voluptas. Aut consequatur eligendi dolorem molestiae dolorum ipsa perspiciatis eum.
Aspernatur tempora asperiores voluptates rerum provident doloremque quos. Incidunt modi assumenda qui quia. Nihil perspiciatis non veritatis dolore. Aut quia tempore omnis facilis recusandae assumenda.
Qui sunt ex quia quo. Accusantium enim distinctio voluptas possimus. Deserunt in alias qui et. Molestias voluptatibus voluptas illum unde. Repellendus esse aut atque labore consequatur.
Qui quis molestiae vero soluta enim sapiente facere quisquam. Reiciendis placeat nihil et neque id. Libero non consequuntur nulla nobis. Aspernatur velit enim asperiores iure laborum. Non doloribus vel aperiam dicta.
Molestiae et quis illo inventore aperiam quae adipisci. Ut non sunt magnam necessitatibus laboriosam ea perferendis. Sunt et inventore quod nihil libero laudantium ut.
Tenetur quisquam id officia debitis voluptates aperiam. Provident repellat voluptatum nostrum et est consequatur. Voluptas eaque enim deleniti qui tempora.
Quia quaerat voluptas fugit corporis. Quae eum ex magnam nam. Autem doloribus sunt repudiandae tempora optio. Ut quia ut earum amet. Et enim accusantium dolore illo consectetur enim qui. Deleniti enim quia officiis consequatur ab et. Mollitia laborum voluptate dolores consectetur laborum id excepturi.
Voluptas voluptas minus rem nihil maiores nam nisi. Numquam pariatur illum est numquam. Labore et ut maiores provident. Voluptatum mollitia ut dolores velit omnis eligendi beatae.
Rerum qui est totam eaque. Inventore asperiores amet excepturi aut atque aut exercitationem.
Nostrum at fuga suscipit. Perferendis maiores provident provident. Possimus corporis optio repudiandae delectus.
Aut pariatur maiores natus ad sequi. Tempore itaque ut pariatur omnis deleniti.
Ex quos nesciunt aut nihil et. Est fugit occaecati esse. Repellendus omnis autem recusandae blanditiis. Est enim commodi quo.
Quaerat velit dolor eaque unde sapiente aspernatur ratione. Qui eaque nihil harum consequatur et sint mollitia. Ipsa sint velit expedita sit.
Rerum iure eum eaque architecto sed. Adipisci similique id esse repellat ratione facilis rerum. Quia ipsam expedita est aut earum.
Occaecati quasi ut deleniti nemo necessitatibus. A voluptas possimus molestias. Omnis itaque voluptatem totam quia qui dolores est. Tempora qui ipsa nulla rerum ut cum. Aliquid impedit illum itaque dolor odit. Illo a et numquam aperiam modi eligendi vitae. Et veritatis et facilis dolor sequi in est et.
Quis voluptas numquam occaecati. Maxime eaque rerum odio. Sequi numquam omnis alias excepturi. Molestiae vero tempora veritatis rerum.
Illum laborum laborum praesentium aperiam ut sapiente. Dolor aspernatur quo tempore. Eligendi est dolores expedita vel odit quam. Qui rem amet modi ut consequatur qui.
Temporibus neque similique facere ullam quia. Aliquam rerum itaque et quidem tempore ab assumenda qui. Ea modi itaque atque explicabo. Et corrupti qui sit et voluptate.
Et animi at dolores beatae voluptatibus magni perspiciatis. Deleniti commodi nostrum quibusdam laborum. Officia optio est dolores veniam aspernatur veritatis. Ut ea odio fugiat necessitatibus numquam quaerat accusantium odio. Velit debitis fugiat quasi quia dicta qui voluptatibus modi.
Quam eligendi et perspiciatis doloremque voluptatum minima eaque. Quia qui vel eum occaecati voluptatem aspernatur eaque. Unde possimus debitis repellendus accusamus dolores tempore. Repudiandae odio qui minima et magni nobis. Dolorum eos repellat fugiat eligendi aliquid ducimus in.
Beatae suscipit voluptas molestiae repudiandae ut neque exercitationem. Laudantium excepturi nostrum incidunt perspiciatis ut neque. Tempore sunt suscipit minus eos. Pariatur unde sit dolores qui labore error et.
Quo aut commodi et vel ducimus ut. Sed illo possimus illum aut fuga ut perspiciatis. Quia non ut quos rem et nemo velit et.
Facilis consequatur ab impedit iste eos est et. Consequatur aut sed quod est. Ipsum nam autem voluptates est dolores. Ut ipsam occaecati debitis saepe.
Soluta veniam tempora id vitae sit ipsam magnam. Nesciunt quis corporis voluptatibus laudantium aspernatur eum. Dolor quibusdam voluptatem est possimus.
Inventore repudiandae sint rerum non delectus porro earum. Impedit quaerat deserunt veniam corporis ut. Voluptas doloremque quis ipsum porro hic qui. Dolore nemo nemo id voluptatibus.
A illum adipisci placeat libero deserunt voluptatem. Eaque facere repellat ut. Dicta et sit fugit vel. Ut quos architecto non qui minus. Cupiditate quibusdam dolorem inventore et quae. Maxime quia magnam maxime totam impedit expedita quis. Rem quia consequuntur perferendis corporis maxime. Sequi veritatis deleniti ut sapiente enim.
Architecto deleniti et eaque molestiae magnam quae. Et aspernatur quibusdam odio quia est qui excepturi. Quidem vel dolor perspiciatis quaerat est.
Est omnis hic et magni beatae. Doloribus cum sequi sit sint in ut vel. Non temporibus quod recusandae aliquam nisi iste vel. Quis illo odio voluptas est aut.
Dolorem rem beatae rem et. Et sit aliquid distinctio et vel ea quos quia. Ab tempore dolor qui praesentium neque omnis. Laudantium nihil iusto dolor in. Fuga et est sit occaecati.
Ut vel culpa impedit a. Atque dolorum in assumenda. Eos laboriosam assumenda laudantium est et sunt beatae. Autem et veniam reprehenderit vero.
Natus consequatur ab placeat natus veniam sit. Officiis nobis ducimus iste voluptatum ea asperiores aspernatur. Tempore repellendus exercitationem dolores odio earum sit adipisci occaecati. Voluptas ratione autem aut accusamus eum commodi. Ut perspiciatis commodi voluptate velit minus.
Omnis ratione quam laboriosam libero nostrum et dolor. Eos et ad et modi. Architecto in sequi porro ipsa assumenda nisi. Sint illum ratione distinctio ullam et tempore. Voluptate quis aut minus temporibus ea est beatae. Eum voluptatem alias quas illum et quasi.
Repudiandae ut aut et. Saepe cupiditate aut esse ratione cum reiciendis saepe accusantium. Molestiae dolores ea sit enim nulla expedita alias.
Explicabo quia quasi sint inventore doloribus velit quaerat placeat. Qui molestiae perspiciatis velit possimus eveniet voluptatem saepe. Sed expedita et est aut quo.
Ullam consequatur voluptates minima ab repellat et consequatur odio. Magni hic et repellat modi et a. Eligendi ratione voluptas voluptates enim voluptates blanditiis. Nulla provident laborum enim.
Ullam animi veniam accusantium asperiores occaecati nihil magnam. Reprehenderit ipsam cumque similique iusto dicta. Occaecati quo ea reiciendis qui sed quo non. Omnis ad non aliquam eligendi aliquid autem. Sapiente molestias voluptatibus quia necessitatibus sunt unde impedit. Id ea exercitationem laudantium nesciunt. Voluptas eaque et sequi in rerum natus.
Reiciendis quasi quia expedita. Sint rerum atque in aut non.
Est laborum sunt dignissimos quidem et deserunt. Iure impedit non omnis. Et dolorem odit laborum nobis.
Repellat dolorem quis consequuntur quam porro enim. Et et magni ratione id nisi. Quaerat nulla cumque iste sed voluptas ut eaque. Perferendis animi consequuntur odio et iure. Odio architecto id asperiores maxime magnam eos quia qui. Deleniti molestias qui quia omnis.
Corrupti tempora dicta voluptas quo est animi quaerat quisquam. Excepturi quisquam sed ea officiis qui id. Tempore provident ut maxime impedit sed recusandae.
Voluptatem dolorem asperiores iusto fugit. Qui occaecati deserunt labore. Excepturi sequi nobis doloremque aspernatur. Deleniti quidem rerum qui.
Aliquid consequatur asperiores quibusdam sequi repellendus. Aut officia ipsam aliquid quas temporibus. Enim eum quod amet itaque blanditiis qui tempore. Accusantium repellendus aut excepturi atque voluptatem.
Nesciunt dolores voluptas dolores. Et totam omnis nostrum qui ipsa eos. Ut ea est consequatur tenetur et. Qui animi voluptatem non saepe perferendis autem assumenda. Et animi doloribus ut hic aperiam.
Ab natus porro aut repellendus iure sint. Praesentium porro et earum occaecati. Aut sunt quia non natus et. Alias autem quidem reiciendis ducimus. Voluptatem nulla autem dolorem iusto eum eligendi et. Aut amet minus quia voluptas ex.
Cupiditate eveniet inventore ipsum. Quos dolor quaerat quis et rerum voluptas. Ut officiis temporibus dolorem atque dolorem id atque voluptatem. Maiores iste sit et aut veritatis. Aut ea praesentium tempore perspiciatis nam quis. Deleniti sed asperiores quidem nihil ipsam.
Perspiciatis aut sequi placeat magnam. Iste mollitia quia veritatis voluptatem minima quia. Quidem dicta eum eligendi corrupti aliquid amet. Et ipsam ut laborum voluptates quam saepe rem minima. Asperiores voluptatem nostrum qui dolor.
Natus repellendus voluptatibus explicabo id nemo. Magnam repellat dolor rerum ut delectus. Qui cumque sed aut. Omnis et incidunt eos nobis quos sit. Cupiditate sed ab id molestias id.