Hello, I'm interning this summer with Morgan Stanley's health care group in NYC, and I would like to know a little bit more about the health care groups at banks. Do any of you have experience with health care groups? I suppose I would like some of your comments about what I should be expecting. Thanks.
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UBS has one of the top healthcare groups on the street. I believe they just had a few people leave from the group, but are still top notch.
as far as i know (please correct me if i'm wrong), healthcare is supposed to be one of the hardest working groups. terrible hours, sorry to say. but if you're interested in the stuff, that helps. i'm an econ major but i've been looking up a lot of M&A stuff for biotech firms for a course of mine and it can be interesting..if that's any consolation :)
Healthcare hours in ECM at Citi are pretty bad- lots of dealflow and since ECM and IBD work together on deals, I'm guessing IBD healthcare has longer hours than other industry groups.
This was confirmed by a friend who was a SA in IBD healthcare, so I'm not just talking about it from an ECM perspective.
I don't necessarily think health care groups work longer hours on the whole. In my experience the hours are just more consistently long rather than have drastic peaks and valleys.
I'm not exactly sure why people are so high on UBS, either. Maybe I haven't been paying attention, but I haven't heard them announce anything big in a while. I've heard much more from Goldman these days.
One thing: Boring......I interned a few years ago in equity research specializing in that sector...remember doing a lot of research about things i barely knew anything about and getting utterly confused over the terminology and other specs. the ER analysts also tended to assume that I knew more about the industry than I did...
I suggest you learn as much as physcially possible about the industry so you won't be utterly confused when you start your internship. Read back articles from publications, etc. Since they are mostly going to use you for bitchwork, to make the most of the experience you should really be able demonstrate a clear interest and at the very least a shallow understanding of the industry. The goal, as with all internships is to be granted as much responsibilty as possible.
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