Need help on future career
So here's a little about me. I am 22 years old and just graduated with a microbiology degree from an average state school. Currently I hold an acceptance to medical school, however I am having second thoughts. I was sure I wanted to be a doctor for a long time. I enjoy the subject matter and wanted a career where I can help people. However every single doctor I speak to tells me to stay away. I was told that the subject matter gets very monotonous after a while, the training is too long and expensive, compensation is decreasing every year, and the helping people factor is overrated since most patients tend to be ungrateful and abusive.
I have quite a few friends who majored in finance and are telling me to go that route. If I were to go back to my state school, earn a finance degree, take the GMATs, and apply to a reputable business school, what would by career prospects look like upon graduating? Do you guys think that it is stupid to forgo a job that would guarantee me at least 200K/year from the time I am thirty to until I retire for a career in finance?
You've done the pre-med track. You might as well get an MD and try to land a MBB gig if you really don't want to be a doctor.
I am new to these forums and know very little about IB. What is a MBB gig?
How good is the school you were accepted into? Regardless, DEFINITELY not worth going back school IMO.
I have been accepted to OSU med. and unless I change my mind I will be attending in a couple weeks.
This should be an extremely easy decision. OSU is a pretty good school. If you do decide to change though, just remember, there's no turning back. In that case, you will REALLY be fucked.
At the investment management firm I worked at, there was a guy who had an MD who specialized in health care related research. I'm not sure if this is the norm for people who want to leave medicine and go to equity research but there is definitely a possibility of a change.
stay with med school. you can always do banking afterwards. it is a lot tougher to go from banking back on a med school path. it is an option that i lost after i started banking.
dont ding it before you do it, plus most analysts don't remain bankers/financiers.
If you're set on switching career paths, I'd go back to school and take some business/finance classes while learning as much as you can on your own . You can then either try to go straight into a healthcare/life sciences PE or VC fund or try to get into a healthcare group at a BB or a healthcare boutique before trying to go for a buy-side gig. Or you can always just go for your MD and make the switch later.
Damn, you want to start over again?
It really wouldn't be starting all over again. I can probably get a finance degree in 1.5-2 years by taking summer classes and everything. My biggest concern is the stability factor, part of the reason I was attracted to medicine was because of job security and financial stability. I have a near perfect GPA however my degree is still from a state school, IDK how much that would hold me back in the financial world.
MBB are the top consulting firms, McKinsey, BCG, Bain
To elaborate a little bit on this option, McKinsey, BCG and Bain are the most prestigious management consulting companies. The work is very different from IB, but given that you don't seem to have a particular preference for finance, it shouldn't really matter.
Basically, you get to work a lot (but FAR less than banking), you also get paid less (but it's still good pay) and its sets you up to go into MBA. Also, your non-business background is almost a no-problem for getting in consulting, because they make a point out of hiring people from any degree, as long as they have the required characteristics.
Get your MD. Figure out what you really want after that. Healthcare equity research (ER) and healthcare-focused private equity/venture capital/hedge fund (PE/VC/HF) will provide good opps if you decide to really not be a doctor.
First and foremost, you need to be sure that you're willing to do Banking. It's not an easy career, and by no means is it more interesting than Medicine. My mum is a Doctor and she hates the idea of M&A (don't ask me why).
If you know you're sure, I would start networking with alumni from your school to see if you can get in through them. Technically speaking, the finance you need to know for Banking is not worth going back to school for. If all else fails, I would consider coming to Europe and doing an MSc here. The reason I say Europe is because they are less obsessed with what you did at undergraduate in order to get a Masters.
Go to med school, from a state school, your chances at a good bank/finance place is a lot lower. OSU, on the other hand, is a very respectable school.
If you do decide to switch out, I know of plenty of Venture Capitalists and Private Equities who have MDs on their staffs to do the research and due diligence.
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