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Errrr, why don't you just ask hospital management? If you can pivot into the Emergency Room
Equity Research
Btw see what I did there at the beginning of my sentence
Reason for the switch?
Pm me I did the same thing
Thanks! Hit my daily PM limit will get back to you tomorrow
Sent you a PM
You're an American? I'm curious about your story (physician too, though not American)
Yes American. You still practicing?
Take a deep breath and calm down. I am aware that surgical residency is very tough and feels like a nightmare sometimes but it can be rewarding afterwards. There is always option to switching to management role after completing your residency to become an hospital ceo/executive director as well. All paths leads to great and stable life and income.
The financial industry is known for great layoffs, switching careers and in every job application you will be competing against thousand applicants.
Consult your senior colleagues outside your netwok before you take such decision.
Lol that’s the point of switching. Work way less hours - do more interesting work in biotech ER and make more money.
Sorry my mind can be foggy sometimes as I am trying to grasp what you really mean by more interesting biotech work !
You do realize that you are not actually working in the biotech company with exciting cutting edge scientific research but actually reporting published results/data?
You do realize that people who find biotech exciting tend to go for medical speciality rather than surgical speciality ?
As a doctor (from a 3rd World nation), I'd imagine only IB/PE would be more lucrative that being an American surgeon. And I've not heard to many good things about ER being exceptionally lucrative on WSO (asides exit opps to other things like HF)—although wanting less stressful hours is valid (in that case, I'm not sure wanting biotech ER SPECIFICALLY is neccesary, I'd guess getting the finance knowledge-base is more important, except if biotech ER recruitment places value of a bio-related background)
Have consulted with mentors and colleagues already, this may sound odd but surgery was my plan b in the match and although I enjoy operating my ideal subspecialty is not accessible through general surgery. If I were going to pursue healthcare admin as a career path getting an MBA would be the way to go, most admins are not MD's. Unfortunately, it is not a free job market and switching to other specialties is controlled by the match where reapplying or switching is not favored within surgical subspecialties.
There are some really great MDs turned investors (e.g. Micheal Burry). However, your risk adjusted career income is going down if you make this move.
How?
5 years of making $50k in residency before attending salary.
Vs. average of 225k as an associate before hitting analyst making 500k - 700k to a few million if you're good. Not to mention Buyside.
Maybe we’re seeing this differently.
I think they said risk-adjusted, so the MD path is pretty much a lock. But the path you laid out is a best case, mixed with other scenarios that could include you getting laid off at any time through no fault of your own. This risk will continue for the rest of your career in ER (compared to little/no risk of unemployment as doctor).
Check out 'Fooled by Randomness' lol. Famous example - dentists have the best risk-adjusted career (after they made it thru dental school and have started practicing lol). Finance after adjusting for risk absolutely sucks balls compared to dentists and MDs lol
Don't mind the risk I'll bet on myself any day. No one is dying so not as stressful
You gotta change up your username man… really easy to find you.
Regardless you make a final decision yet?
Agree no anonymity with the previous username thanks for the sage advice! Yeah I'm jumping ship, can't take out another appendix.
How long until you finish residency? Maybe worth crossing the finish line for that if you’ve already invested so much into it?
Either way I’m sure you have your reasons - Healthcare is a HUGE part of finance and you will absolutely be able to pivot. If you didn’t study finance in college, getting an MBA would definitely allow you to pivot, MAYBE if you network and spin your story the right way you can avoid that and go straight in. I would go on LinkedIn and find alumni of your school that are in ER and just cold email them to ask for advice eventually I think you’ll get a repeat and some good insight better than what I can give I just worked in IB.
Don’t listen to this guy…
You don’t need an MBA. You can do it now. And if you’re considering ER the only coverage group worth going into is biotech.
These are the smartest guys on the street. Don’t go into Restaurants ER or Consumer ER. Also you get paid a premium. In 4-5 years you’ll make analyst hopefully and pull an easy $1 mil. If you’re good this can scale to $5 mil a year not including Buyside exits.
Lol 5 years with better compensation and less stress this is a no brainer
I'm finishing 1st year so 5-6 years total, need to take 1-2 years of research between pgy3 and pgy4. In my eyes 5 years to become a general surgeon without a fellowship is not worth it.
Are you doing Peds surgery?
Lol like an MBA helps ER guys… you’re a fucking doctor you can run laps around these guys
You ever decide or make the switch? Curious to know
I'm committed to switching, took the SIE on Sunday to see if it helps during the recruiting process. So far only have gotten invited for interview at PS
Lol why tf would you go to ER after med school. I get it if you were some broke PhD student. Seems like their highest paying career path… but med school?
If anything go into IB if it’s strictly about the money
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