A warning to you doctors trying to break into ER…

Background (ignore position) - I’m a doctor who left gen surgery residency to join an ER team at a BB bank. The team was great but very large (8+ people). I was the most junior member and unfortunately got cut. Of course this won’t happen to everyone, but I regret making the switch. The grass isn’t greener. Medicine was a safe path and now I’ve been unemployed for 6 months. My parents are pissed and I don’t know what to do. I should’ve stayed in medicine…

Anyone in biotech have advice on next steps?

29 Comments
 

Based on the most helpful WSO content, here are some steps and advice for someone in your situation:

  1. Networking and Reaching Out:

    • Leverage Alumni Networks: Reach out to alumni within equity research, even if they are not specifically in biotech. They can provide valuable insights and possibly connect you with opportunities.
    • Connect with Professionals: Add junior equity research professionals within the biotech space on LinkedIn. Building relationships can open doors to new opportunities.
  2. Educational Resources:

    • Publications and Reports: Utilize publications like FierceBio and FiercePharma to stay updated on industry trends. Access equity research reports and primers from major investment banks, which can often be found through electronic resources at your university or by asking professionals who have access to platforms like CapitalIQ and Pitchbook.
    • University Resources: Visit departments at universities like UPenn and Johns Hopkins, which offer masters in biotech, and inquire about course materials available in their libraries.
  3. Proactive Learning:

    • Self-Education: Compile the knowledge you gather into a comprehensive presentation. This shows initiative and can impress potential employers. For example, create a PPT summarizing your findings and send it to a superior or mentor with humility, demonstrating your proactive approach to learning.
  4. Exploring Other Roles:

    • Healthcare IB: Consider transitioning to healthcare investment banking as an associate. This can be a more exciting and financially rewarding path compared to equity research.
    • Consulting: Look into roles in healthcare/biopharma consulting. This sector values a biomedical background and offers diverse opportunities in commercial strategy, pricing, market access, and M&A work.
  5. Job Search Strategies:

    • Headhunters: Utilize headhunters who specialize in placing candidates in the biotech and healthcare sectors. They can help you find roles that match your background and skills.
    • Buy-Side Opportunities: If interested in the buy-side, having experience in a good healthcare IB group can be advantageous. Networking and leveraging connections within your current group can also help.
  6. Mental and Emotional Support:

    • Seek Guidance: Talk to mentors or career advisors who can provide personalized advice and support during this transition period.
    • Stay Positive: Remember that career transitions can be challenging, but with persistence and the right strategy, you can find a fulfilling role in the biotech or healthcare finance industry.

By following these steps, you can navigate your career transition more effectively and find new opportunities in the biotech and healthcare sectors.

Sources: How Do I Get Smart in Biotechnology Space?, 2nd yr Biotech Equity Research looking for next steps......, Biotech finance: from IB to VC / HF to funded startup, Q&A: Pharmaceutical/Biotech Industry, Q&A: Healthcare/Biotech/Pharma Consultant with Biomedical Background

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

You say you should've stayed in medicine, why not just go back? This country desperately needs doctors. 

"I'm going to make him an offer he can't refuse."
 

Offering a perspective here (no hate intended), but with ur background/resume, surprised u haven’t gotten an offer. I speculate that you performed poorly on the job and ur team/Analyst has given poor feedback to buyside. Cuz everyone does ref checks and it’s easy to figure out who to go to. Bio is a very small world 

 

Okay word. Have you tried pharma (commercial/strategy, med affairs, comp intel, MSL) or consulting? 

 
Funniest

Why would you need to break into ER as a surgeon? Where else would you operate on a patient besides the emergency room? Just walk in like any other civilized  medical professional.

 

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