Going to be starting at a HF in the New Year covering Healthcare equities, joining a sole PM.
Coming from IB background and was wondering if you guys have any tips- things you did before you started? Mistakes you've seen newcomers make? Things you wish you did?
Also, any HC related sites/providers that you'd recommend getting familiar with before joining?
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Do you know if your future PM has already trained/mentored an analyst before?
It'll be key for you.
If not, then you'll probably feel lost and useless for the next 1 year I would say. It's not necessarily bad though.
He's worked with junior analysts before as a senior analyst, but I'll be his first hire.
Do you have any tips on things I can do to hit the ground running?
I had the same background with 2 years of banking then to HF, different sector.
Advice would be that everything takes time just like how we started in M&A, you go through the process of a deal so you pick up things on the way. Now you need to take the time to go through 1-3 quarters to properly pick up the markets and the companies you cover.
Just chill and grind, ask your PM questions when you don't know something but find a good balance between being eager vs annoying.
Thanks this is helpful. Over your time, is there anything you learnt that you wish you'd known when joining?
Things had been going well so far, if theres anything I wish I had done earlier...maybe doing ER instead of banking haha, seriously it would have made life easier. But jokes aside, I would probably find a balance between building a "good" model and doing other things about getting the share price right (reading all kinds of stuffs, talking to others, doing your own research etc etc), you will often hear people talking about how often they update their models / sell-side throw numbers at you then worrying about as a junior not spending enough time "modelling", later on you will know that the model is only 10-20% of getting things right, not saying it's not important, but it's only the basic thing and juniors tend to focus on it too much in the beginning and I find spending time on other things help a lot more later on. Again people might disagree, I'm just a pod shop monkey.
I have no tips. Just wanted to say congrats:)
Sorry this is unrelated - do you have any background in HC from an academic POV i.e. undergrad in Biology or BioChem?
Did this ever come up during your interviews?
No HC background - econ undergrad - didn't come up in interviews as book covers medtech/services so picked most up on the job
This is insanely helpful so firstly thanks.
This may be a stupid questions, but how do you figure out what matters?
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