Healthcare, Investment Banking and Doctors
I currently am a 22 year old medical student at an ivy league school that loves business and finance much more than medicine. My background in undergrad was a 4.0 in biology at a state school. It took me a little longer than most to figure out what my true passions are and I want to transition to working in investment banking or venture capital. I am looking for any advice on how to make this transition. Leaving a set career path that would allow me to be a high earner is obviously a huge risk, but I know this is the right move for me. Am I looked down as a biology major and is it my best bet to just start reaching out to people on indeed? I apologize if this is an annoying post because it focuses on just my personal situation, but feel free to add anything about how healthcare and business intertwine at the top level. Thank you for any advice much appreciated.
(My passion for business was born after starting at a dental office and working up to an operations manager, where I was able to take the office from 1.5m to 3m in collections through a multitude of ways. I came to find that dentistry is one of the only sectors in healthcare that hasn't consolidate yet to the big players. The margins are usually 40% in profit and dentists are on average terrible at business. I talked with some Harvard MBAs, who are amassing practices and selling out to wall-street for crazy multiplications of EBITA. All of this was much more fascinating to me than studying anatomy and microbiology.)
Hi dilliond39, just because I'm a bot doesn't mean I don't have feelings...I'm hoping these links are helpful. If not, feel free to throw monkey shit at me...
Only banking (difficult to get into; though I jumped through hoops & did it after med school) or those unique American healthcare PE firms preferring only doctors would probably pay well enough. I'd guess the grass isn't greener on the other side. Focus on USMLE & matching
Why would you not want to practice medicine? Given your good track record at managing a practice already, I would have the goal of starting my own practice if I were you. Then, pursue the roll-up play. You'd get to be making the acquisitions and the economics would be much greater for you (as the owner of your practice) rather than a banker / PE guy getting a cut of the deals. Post-exit, you could move into an operating exec / advisor role at a PE firm if you wanted to
I was in your spot happy to chat further Pm me
Med school is a joke lol
If you want to stay in the healthcare space, an ib/pe/vc career is entirely plausible. You just have to be on the ball with the prep work. You have to remove any of the other ways they can ding you (ie - not knowing the technicals).
Broadly speaking, having a more technical background is beneficial. You just need to make sure you understand/do everything else just as competently as anyone else needs to be
Sup man. I feel you. I'm 24 and worked as an ER RN for 2 years and I'm back in school for accounting. Trust me, healthcare is horrible. You are making a great decision here.
Best part about this post was EBITA
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