Is Biotech/Healthcare ER worth taking?
Hey all,
Come across a bit of a dilemma and could use some advice. So for context I’m a current sophomore at let’s call it a semi-target school. I’m studying biochemistry on the pre med track as being a doctor has been a goal of mine for some time now. However at the beginning of this school year I joined a finance club at my school just out of interest and was kind of urged to apply for healthcare related finance internships. I applied not thinking much of it as I know there are students who’ve been preparing to work in high finance since they were 13 so the odds of me getting one of these jobs were slim. However, I ended up landing Biotech/Healthcare ER at a bulge bracket. So now I am kind of conflicted. Do I just accept my offer and not look back? I am proud for landing a great role, but part of me feels like I’m giving up on my dream. Anyone know how the culture is in Equity Research, or someone who was in similar position as me? Any advice would be helpful.
Thanks!
try it out for a summer? it not like you are commiting your life to it. See iff you like it, if you don't you have your original track.
life is too short to script it by the spreadsheet
I guess that is true haha. People here do make it seem like once you have a junior summer offer that’s what you’re going to be doing for your career. I guess I should’ve specified this in the post, but originally I planned to do research for my summers or intern at a hospital to beef up my med school application. Would Healthcare ER still look impressive if I do end up going down the med path? Thanks for the advice!
can't speak on the US Med School process, as I am not familiar with it. That information does change things however. It becomes a constrained optimisation problem, you don't have the option of doing both (I assume).
I would also assume that it is still possible to get into Med School without the research/internship and/or you can do research/internships during another time in the year. Whereas the ER summer, you can only really do at a certain point in time.
Anyways this is probably more a question where you need to have a think about what you want to do and what would be the best use of your time.
NB: You can still do HC ER after med school / PhD so don't think this option is completely locked off for you if you don't intern this summer
Appreciate the advice, I think I will just end up doing it for junior summer and intern at a hospital or research this summer. Hopefully after the internship I have a clearer idea of what I want to do. Thanks again!
I worked in biotech investment banking for 3 years out of school. Few thoughts.
(i) it’s a summer internship, it doesn’t matter what specifically you’re doing so long as you get decent work experience (would imagine it applies as much to med school apps as further finance jobs).
(ii) a lot of folks get to med school, realize they don’t want to be physicians, then go to finance. My old bosses were MDs twice over (managing director and medical doctor). Also having an MD or PhD is a prerequisite if you want to be on the investing side in life sciences. All this is to say, if you start the first year or two in biotech finance - you’ll actually know better (i) what you want to do after med school (be a physician or go to industry) and (ii) if you feel the need to go regardless. Tbh your chances of landing an investing gig after med school are probably higher by doing finance beforehand as well
(iii) on the flip side of my first point, I doubt many people you’re competing against in med school apps have worked at a bulge bracket so you did end up going that path, you have that name brand going for you
(iv) if you’re into medicine more for intellectual curiosity and the science, biotech finance is a great way to get exposed to a TON of cutting edge stuff. You work with companies and need to know what they’re up to and how their science is differentiated, without having to go as far into the weeds as a deep research doctor/scientist where you’d be a niche specialist for your career. If you want to be patient-facing, then you aren’t at the cutting edge really at all.
Thanks for the advice, it’s really looking like a no brainer at this point to take the offer lol. Appreciate it!
Think that’s a great outcome. Good luck!
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