Junior Interested in Healthcare IB

To position yourself for full-time healthcare IB recruiting, here’s a targeted game plan based on the most helpful WSO content:

1. Leverage Your Current Experience

• Your FP&A internship at a HealthTech company is a solid foundation. Highlight the healthcare exposure and any financial analysis or strategic work you did. This will help you craft a compelling story about your passion for healthcare and finance.
• The unpaid part-time gig at the biotech incubator is a great addition. Even if it’s unpaid, it shows initiative and deepens your healthcare expertise. Make sure to focus on any deal-related or strategic work you do there.

2. Target Relevant Internships

• Boutique Healthcare IB Firms: Many healthcare-focused boutiques are open to candidates with healthcare experience. These firms often value industry knowledge over pedigree. Examples include firms like SVB Securities, Cain Brothers, or other healthcare-focused boutiques.
• Corporate Development/Finance at Healthcare Companies: If you can’t land an IB internship, aim for corporate development or finance roles at pharma, biotech, or medtech companies. These roles often involve M&A or strategic planning, which are highly transferable to healthcare IB.
• Healthcare-Focused Private Equity or Venture Capital: Even if it’s a small firm, any exposure to deal-making in the healthcare space will strengthen your profile.

3. Networking Strategy

• Expand Your Network: Start with your solid BB connection and the associate. Ask for informational interviews and referrals to others in healthcare IB. Use LinkedIn to find alumni or professionals in healthcare IB and reach out with personalized messages.
• Focus on Healthcare-Specific Conversations: When networking, emphasize your passion for healthcare and your relevant experience. Discuss trends in the industry, like biotech innovation or healthcare M&A, to demonstrate your knowledge.
• Leverage the Biotech Incubator: Use this experience to connect with professionals in the healthcare space. The director of investments you spoke with might also have connections in IB.

4. Prepare for Technicals and Storytelling

• Master Technicals: Use resources like the WSO Elite Modeling Package to ensure you’re ready for technical interviews. Healthcare IB often involves M&A and capital raising, so focus on those areas.
• Craft Your Story: Your narrative should tie together your FP&A internship, your biotech incubator experience, and your passion for healthcare. Highlight how these experiences have prepared you for a career in healthcare IB.

5. Full-Time Recruiting Tips

• Start Early: Full-time recruiting for IB often begins before your senior year starts. Begin networking and applying as soon as possible.
• Be Open to Middle Market and Boutiques: While BBs are your goal, don’t overlook middle-market firms or boutiques. They can be a great stepping stone and often have strong healthcare practices.
• Consider Lateral Opportunities: If you don’t land a full-time IB role immediately, consider starting in a related field (e.g., corporate finance in healthcare) and lateraling into IB.

By focusing on healthcare-specific roles, networking aggressively, and preparing thoroughly, you can significantly improve your chances of breaking into healthcare IB.

Sources: Dietitian to Investment Banking?, https://www.wallstreetoasis.com/forum/investment-banking/m7-ib-associate-full-time-recruiting?customgpt=1, Medical School --> IBanking, Biotech finance: from IB to VC / HF to funded startup