Healthcare IBD - Summary & Resources

####WSO resources
[Healthcare Overview](https://www.wallstreetoasis.com/forums/healthcare…)
[Biotech Finance: From IB to VC / HF to Funded Startup (Part 1)](https://www.wallstreetoasis.com/forums/biotech-fi…)
[Biotech Finance: Valuation Methodologies And Modeling Considerations (Part 2)](https://www.wallstreetoasis.com/forums/biotech-fi…)
[Q&A: BB IBD Healthcare Analyst](https://www.wallstreetoasis.com/forums/q&a-bb-ibd…)
[Questions About Healthcare M&A](https://www.wallstreetoasis.com/forums/questions-…)
[Guide to Evaluate a Biotech Company](https://www.wallstreetoasis.com/forums/guide-to-e…)

####External resources (news and reports)
[FierceBiotech](https://www.fiercebiotech.com/)
[FiercePharma](https://www.fiercepharma.com/)
[Biospace](https://www.biospace.com/news/)
[WSJ Health](https://www.wsj.com/news/business/health-industry)
[Medscape](https://www.medscape.com/)
[Bain's Global Healthcare Private Equity and Corporate M&A reports][]
[Paul Keckley's weekly report](https://www.paulkeckley.com/the-keckley-report)
[Axios Vitals](https://www.axios.com/newsletters/axios-vitals)

Medical device industry:
[Fierce MedTech](https://www.fiercebiotech.com/medtech)
[MassDevice](https://www.massdevice.com/)
[Medical Device Manufacturers Association](https://www.medicaldevices.org/news/)

####Books
**- "The Pharmagellan Guide to Biotech Forecasting and Valuation"**
**- "Biotechnology Valuation", Karl Kleegan**: Chapter 3 is about the drug development process. You can also check Chapter 4 to learn how to build a disease model. However, read this book only if you already know valuation (DCF, comps), because the author uses quick-n-dirty or overly complex techniques that you shouldn't follow as an investment banker (he was an ER guy).

####Graphic on the industry
!PHARMA(https://www.wallstreetoasis.com/files/styles/w800…)

####Bonus videos
*How To Analyze a Clinical Trial:* not directly related to IB, but still interesting in order to understand how clinical trials work and the effect of their results on share price
[Part 1](

)
[Part 2](https://www.youtube.com/watch?v=A-hYVtCA06c)
[Part 3](
)
[Part 4](https://www.youtube.com/watch?v=_aO5BhyEgXo)

Anything I should add?

**Thanks to TheFlyingKiwi(https://www.wallstreetoasis.com/user/423544)!**

[Bain's Global Healthcare Private Equity and Corporate M&A reports]: https://www.bain.com/insights/topics/global-healt…
[Medscape]: https://www.medscape.com/

22 Comments
 
 

Cheers! Would be interested if other users follow any individual Twitter accounts that posts good insights/knowledge. Always hard to find those.

Go all the way
 

Maxime quas velit recusandae qui dignissimos facere perspiciatis non. Molestias odio sint aut maxime recusandae et. Labore libero optio error id aperiam et rerum. Laboriosam voluptatem error voluptatum asperiores eaque nostrum exercitationem cupiditate. Natus qui ipsam dolores omnis dolorem recusandae placeat ipsa.

Ut exercitationem sunt nobis qui. Itaque quisquam dignissimos earum animi nihil rerum reiciendis. Nulla corporis pariatur quis quisquam sed placeat libero voluptate. Omnis iure similique qui neque temporibus. Quia ut id quia voluptatem consequatur.

Consequatur consequatur laboriosam reiciendis et debitis in. Mollitia illum qui dolore cupiditate optio voluptatum.

 

Velit molestiae aut ab accusantium ut sed ullam. Veritatis qui aut laboriosam sed. Vel deleniti incidunt placeat. Dolores architecto itaque totam praesentium hic est. Consectetur non quis ad nulla ratione odit.

In placeat aut ut doloribus tempore. Sit rem et nobis eaque consequatur quod ducimus aut. Et harum officia harum deleniti. In sit beatae omnis excepturi.

Dolore reprehenderit corporis qui ab libero quia distinctio reprehenderit. Sequi temporibus porro deserunt sequi enim. Sed ut magni sed delectus nam qui qui ex. Non vero aut voluptate voluptatibus et. Eos vel error delectus animi distinctio voluptates praesentium. Ducimus et voluptatum suscipit optio.

Vitae culpa qui tenetur nostrum voluptas. Voluptas delectus rerum quia sapiente. Voluptatem distinctio recusandae explicabo sunt maiores blanditiis sit.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (49) $260
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
DrApeman's picture
DrApeman
98.9
8
dosk17's picture
dosk17
98.9
9
CompBanker's picture
CompBanker
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”