PharmD to Healthcare Consulting
Hi,
I'm a current PharmD student wanting to transition into a healthcare consulting career post-grad. Specifically, healthcare consulting firms and life-sci boutiques are my target. Has anyone had any expierence with a transition similar to this? Should I try for a Pharma industry fellowship in a commercialized role before attempting to break into consulting? I've also heard of MBB's offering bridge programs for MD, PhD, PharmD, etc. students which was interesting to come across.
Any input is much appreciated!
Interesting in this for a friend as well. PharmD career outlook is looking increasingly dim as thousands of students are becoming licensed every year and there are less jobs available than there are students flooding the market, pushing salaries down.
Quite a few have made the transition at this point. Recommend you create a list of firms you're interested in and get cracking on LinkedIn.
No fellowship needed.
Thanks for the reply!
That is exactly what I have been doing. Though, I feel I lack in work expierence... Do you have any comments on how I can make myself competitive for consulting post-grad? I've been trying to find relevant exposure through internships and such, but no luck as of yet.
Thanks.
General advice to you would be the same as most advanced degree folks with a couple nuances below. The year you're in matters too - if you're graduating this year you'll have to improvise because you've missed the recruiting cycle.
To indirectly answer your question (and answer an implied question) - as a pharmacist you have plenty to offer consulting firms. The types of work that consultants conduct branch into everything that you will touch professionally. Don't discount your hospital and retail experience; augment with payer, pharma, med tech or nonprofit experience depending on your interests.
More specifically: 1. Keep GPA up. There's a bias that grades don't matter during pharmacy school except for residencies; that's not the case with consulting and other avenues.
Find 1-3 internships/experiences, ideally in companies that A) people recognize e.g., CVS, Bayer, Anthem B) communicate a level of selectivity and/o C) which have the right level of functional exposure, e.g., corporate functions at Walgreens instead of retail/hospital pharmacy technician. Business Development, Strategy, Marketing, Operations, Med Affairs, Market Access etc. etc.
Have 1-2 impactful leadership experiences, not the fill-your-resume kind that tends to happen
The subsequent steps after this are: 1. Making sure your resume sufficiently communicates your accomplishments; 5 page responsibility-focused CVs will get thrown out
Ensuring you have a warm connection to each firm you'd like to apply so your resume is seen and prioritized
Preparing for the fit and case portions of the interview
Thanks for the reply, George. Appreciate the advice.
Unfortunately, I haven't experienced such a transition and I can't give you advice but I wish you good luck.
I did that transition myself, although in Europe not US. PM me if helpful
Can you please tell me more about your européen transition experience form pharmD to consulting
Have you taken any additional training courses?
In management? Or project management certifications such as Prince2 or PMP to boost your resume ?
Thank you in advance
I am a pharmacy student who interviewed with MBB this summer. I didn't get the final offer. Best bet would be summer consulting internships or starting out in industry/biotech full-time and apply as a experience hire. I am more than happy to answer any question.
Can I PM you? It says you are anon so it's not letting me.
There are plenty of LS specific firms our there, big and small. Some of the best known in the industry are ClearView, IQVIA, Charles River Associates, ZS Associates and Putnam. If you want to get exposure to this type of consulting, I strongly suggest you apply to one of these larger firms rather than a boutique as boutiques specialize in one type of consulting e.g. market access, pricing & reimbursement or competitive intelligence. Happy to share more firm names and answer some more specific questions - PM me.
Thanks for the reply! I will get back to you with a PM as I do have some more questions and appreciate the help :)
Good to see a pharmacist in this thread.
I have seen many pharm.D.s at MBB. Number of pharmacist's entering management consulting is increasing these days (probably retail/clinical market is not as lucrative as before). Especialy from from Rutgers school of pharmacy, I have seen many grads working at MC, Investment banking, and healthcare VCs.
McKinsey has 10-20 pharm.D.s currently and BCG probably another 20 and at Bain I have seen couple. There are couple partners with Pharm.D. background.
In second tier, I have seen around 10 Pharm.D.s in L.E.K. I wish more pharmacist's enter consulting. As a pharmacist we can provide a unique perspective that no other Ph.D. or M.D. can provide.
I would highly recommend reaching out to them through linkedin.
Cheers!
Thanks for the reply!
I've been doing exactly as you recommend and have spoken to a few individuals at the 2nd tier firms you mentioned! Haven't reached out to any MBBs yet but I will in the near future.
Can I ask if you are currently in consulting? Mind if I PM you?
Take care.
Absolutely, I have just messaged you directly.
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