The roadmap from the Laboratory to IB Healthcare.
I am a scientist for a big pharmaceutical cie in the world. I want to leverage my skills in IB Healthcare / associate level. I have been reading your Forum for a while. Here is a little about my background.
- 34 years old
- 7 years experience in pharma
- Just started an EMBA / target school in the Northeast.
- Trained on Valuation methods (DCF)..., Financial modeling,LBO,Merger modeling
- Speak French, German, English and African dialects
What strategy should I adapt? Any advice is welcome. Thank you all
Someone I used to work with had a very similar background to yours (minus the languages) and did an EMBA at Columbia. She said that many of her classmates were the same age (mid-thirties) and trying very hard to become banking associates, but that many found it challenging given their age.
A problem with becoming an associate so late in the game is that many VPs and even MDs are younger than you, yet the associates are expected to work more hours and have no personal life. Also, think about the end game. If you just started your MBA, you'll be 36 when you finish, which could mean you don't get promoted from associate until you're almost 40. I'm not going to condone age discrimination, but it does happen and it will be difficult for you to get in at that level. I'm not saying it's impossible, if you really want it, I'm sure you can make it happen, but it will be hard and I think you need to consider your quality of life as an associate.
Instead, I think you're a perfect fit for pharma Corporate Development. You have good experience, a variety of languages, and both finance and medical knowledge. I have worked in pharma corporate development before and can say that it is very hard to find people with both types of experience. These positions are hard to find since even big pharma companies have very small departments, but if you can find one, I think you're a perfect fit. The only downside is that the bonuses will not be huge like in banking and if that's why you want to get into banking then corporate development may not work for you.
I am aware of the challenges (Age discrimination etc)and I will get it done. It can't be worst than escaping a civilian war 12 years ago in Africa--
I don't see anything wrong reporting to a younger MD or VP as long as the group does well-- I appreciate your advice--
i think its doable there were actually a few articles in the nytimes a few months ago about MDs getting into banking
you might want to consider going to a boutique HC banking firm, where the roles are less rigid and your previous experience would be valued more
Something to consider other than banking is principal investing, on either the private or public side. A lot of hedge funds love people like you who understand finance, but have the biology background to really evaluate pharma and biotech investment opportunities. Starting out you'll make comparable money to an associate banker, you have much more upside potential, and your hours will probably be materially better than in banking.
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