Best way to break into Biotech ER?
I am a recent PhD graduate in biomedical science and I want to pursue biotech ER. I've applied to ~40 positions since December 2023, but I haven't been able to really land any interviews. Do people generally break in via networking, or is the lateral hiring just that competitive? My PI was an old-school professor who did not let me pursue any internship during graduate school, so I unfortunately don't really have much meaningful experience outside of grad school.
I do have the SIE and Series 63 license, just to help myself look more competitive. I'm currently doing an unpaid private equity analyst internship that I started in April, so I'm hoping that "makes up" for my lack of industry experience. I do have some accounting knowledge, and have a few stock pitches that I prepared. But I'm stuck because I just cannot land in any interviews.
Any input would be appreciated.
Based on the most helpful WSO content, here are some key strategies to break into Biotech Equity Research (ER) as a recent PhD graduate in biomedical science:
1. Networking
2. Tailor Your Resume and Cover Letter
3. Prepare for Interviews
4. Consider Additional Certifications
5. Apply Strategically
6. Gain More Experience
Additional Resources
By focusing on these strategies, you can improve your chances of breaking into Biotech ER. Good luck!
Sources: 3 Key Tips for Getting an ER Interview, 3 Key Tips for Getting an ER Interview, The right time to lateral?, Why are you still trying to break into equity research?, Guide To Evaluate a Biotech Company
How tf do you have S63? Don’t you need a sponsor?
And to answer you question market is absolutely cooked rn. 200-500 applications for one biotech seat with many experienced candidates who were laid off / people looking to move up stream / new PhD and MDs / bankers who were laid off
Seen some consultants too
S63, S65, S66 don't need sponsor, though I think S66 requires S6/7 co-requisites. Yeah, I honestly graduated in a pretty trash job market. I did apply for MBB consulting firms last year, and had zero luck. Hopefully things would turn around soon.
Do you go to a “prestigious” grad school, have any industry experience and/ or publish in well known journals (nature, science, cell, pnas)? You need to at least check one of these boxes to have a shot without any other business related experience. if not, the best bet is to network with analysts/associates who share similar connections to hopefully get a chance for an interview. Or try your luck again in a couple of years after you have some other experience. It’s a highly competitive market right now and you have to make yourself stand out. The last thing you can try is to actually write 1-2 research reports describing why you like a certain biotech company to show you have actually made an effort to learn about the job. The ideal candidate for any analyst is typically ranked in the following order: 1) have done ER before in the same sector, 2) have a few years of relevant industry experience (industry lab work or life science consulting), 3) graduated from top university and/or published in prestigious scientific journal. In the biotech sector, ideally you have MD/ PhD but that’s analyst dependent.
Now is MD or PhD better for this??
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