Life sciences consulting exit opps

Disagree with the 1st commenter. In the field myself and based on personal experience as well as that of others, you have a fair share of exit opportunities. The main common ones in order of frequency are:

• Industry
• Competitor
• Other Consultancy
• VC
• IB
• PE

Industry is pretty self-explanatory although the most common (and most lucrative) moves happen at more Senior levels, ~5+ years on the job. This is because you can end up specialising in a function (operations, pricing, market access, commercial strategy etc) and go directly into a service or product team. Direct competitor is also pretty obvious and frequent since the work you do is very similar. This is also a chance for you to get a promotion bump (e.g. spend 3-4 months as Consultant and aim for Senior Consultant at your next firm). Other consultancies are also a possibility, but I recommend doing so more at the Junior level if you want to remain a generalist (12-18 months in). As you become more Senior, you will certainly be valued in industry teams but you'll have to wait until those roles become available. I've seen friends and colleagues land at MBBs and T2s.

Finance is a little more challenging, but not impossible. VC is probably the most common exit, but is seen more in those with experience (~3-5 years on the job). VC recruitment has its own challenges and dynamics which is a topic for another time. My only advice here is to pinpoint exactly the funds you want (e.g. biotech, MedDev or MedTech focussed) and reach out to relevant recruiters/employees ASAP. VC is a bit of a lottery because you'll need to apply at a time when there is an opening, which is rare in smaller firms. Another thing to consider in VC is that you need to have experience with smaller companies. Doing strategy work for top 20 pharma is all good and well, but is hard to sell that to a VC fund since the dynamics differ so much. Also, get as much CDD experience as possible.

Your commercial and industry knowledge will be an asset in IB, but your financial modelling ability will be the main factor there. Even with 12-18 months of experience, if you cannot do a DCF or LBO then expect to start as AN1 in any HC IB team. If you are lucky enough to land at a place that does some of this (e.g. IQVIA's Financial Consulting Division) you may be able to spin that experience and land as AN2 or something. The other entry point may be as a post-MBA associate.

PE is probably the toughest for two simple reasons. Firstly, PE itself is tough as balls to get into and you won't be on many recruiters' radars. Either make yourself visible or reach out to individual funds. Secondly, the type of work typically done at the firms you mentioned is HIGHLY geared towards pharmaceuticals and biotech - industries which PE rarely touches. If you manage to do a fair share of broader healthcare work (e.g. medical devices, specialty clinics, hospitals, medical tech and information services) then you may have a shot at selling that experience in interviews. But, as with IB, you'll be expected to have a decent knowledge of financial modelling. Consultant-friendly firms may be more lenient, but still expect you to model at least like a AN1. MFs are deal factories and the nuances you may bring to the table as far as strategy and operational knowledge go will be almost worthless. MM and LMM funds is where you will live at first.