MM Healthcare group or EB generalist programme? (life science background aiming for HC buyside)
I have offers from an MM IB specifically in their healthcare team and an EB but the analyst programme is generalist. I come from an advanced life science degree background and looking to leverage that to aim for HC groups on the buyside whether that is PE or HF. Which of the two would best position me for that? The MM would obviously allow me to gain valuable HC experience but I am hesitant to pigeon hole myself into the MM space and likely close off HFs. Any thoughts appreciated.
if the EB is lazard roths pwp pjt cvp evr, go for EB
moe and gugg also both have amazing HC/life-sciences practices
Moelis HC Services is top notch. but their LS group isnt so hot anymore. Read some of the threads on here and look at their transaction website
Top MM HC are Roths and Jef, anything else not worth it but again you'll provably need to lateral elsewhere for top exits. Is the Generalist role with a firm that does rotations / has strong HC practice? If so then take EB (except Moelis) and you can get HC exposure from there and then potentially lateral to HC groups as senior analyst / junior Assoc. Niche buy side roles in life sciences would target HC groups so if that's what you want you need to be at one to have decent chances.
roths mm lmao
Yes, majority of their dealflow is MM. They do have large cap creds but in terms of avg size it's MM
If I would have to lateral either way does it matter too much where I start then?
Not so much but coming from a Generalist EB background may be more helpful in terms of optionality. Either way what you have in the bag now is good to start with, don't stress or try and plan details of your career and next steps.
Maybe would add Gugg to that list as well for MM HC
del
If you're trying to get into HC buyside on the life science side, I'd like to add that MTS Health Partners is worth checking out. I don't think they have any openings yet but a handful of their analysts in recent years have exited to life science buyside.
Always thought very highly of most of the bankers I've interacted there. One of my college buddies runs the commercialization side of his biotech startup and seems to think highly of them (not an official client but has spoken / interacted with MTS before).
Does the MM do financing deals? If so then join the EB that focuses on m&a. Wasted half of my time as a first year doing only biotech equities which did not help me build useful skills for buyside recruiting. Had to explain myself a lot more during the recruiting process to sell myself
Correct me if I’m wrong but I’d “biotech equities” like capital markets?
Yes like follow ons and IPOs
Go EB
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