Is a natural science / biomedical engineering background necessary for healthcare groups?
I want to do healthcare IB. Currently an underclassman at an Ivy (not HYP) with an interest in biotech. I am hoping to major in computer science and minor in something along the lines of healthcare policy (more social than technical minor). Would this make it difficult to break into healthcare IB roles compared to a minor in something like biomedical engineering?
Typo. Meant to say:
“Would this make it difficult to break into healthcare IB roles compared to a MAJOR in something like biomedical engineering?”
I think what anyone would tell you is that a junior banker's job really isn't to understand the businesses - it's to crank out models and PowerPoints and understand the math.
So to answer your question - no. Perhaps as you climb the ranks in biotech you'd definitely need to understand it at a functional level to explain it, but even then you'll have the management team whose job it is to do that.If you have an interest in biotech buyside roles, then having a science background is a massive boost if not a requirement.
As a banker your job is to get deals done and follow market trends, at a hedge fund your job is to make a good investment, which in biotech means having an understanding of if the technology is feasible and/or that you're not getting fleeced.
Edit: “healthcare” is also a really wide net. There’s health insurance companies, medical devices, biotech, healthcare software and service, health practices, and more. I would say the only one that really would need a technical understanding for a buyside role is biotech. Your seniors job is to figure out if it’s legit and bring in consultants if they can’t do it themselves.
CVP?
I was in a similar place and graduated with degrees in finance and biology. Although I was going in with that background, none of the other analysts in my class had similar backgrounds as most were just vanilla finance majors. But to answer your question, no, there is really no preference for a biology knowledge base; my only exception to where I think this would be advantageous is CVP's biotech practice because all my friends there are Finance/Bio kids.
Not at all
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