Healthcare Investment Banking Intern Interview

Aside from reading the IB vault guide, familiarizing myself with the FDA approval process, and learning about the different healthcare sectors, what do you all think I should spend more time on? I'm really interested in IB and think HC IB would be a really good sector to be in. It's for a specifically HC shop.

5 Comments
 
abacab

Once was asked how to value a biotech (or any drug company) with patent expiring or no products in market yet, etc. Something to think about.

You would have to do a complete revenue build with a projected product penetration for all of their pipeline drugs. Assign a probability of coming to market (based on Phase in FDA testing) and discount the cash flows as you would in a standard DCF.

You could also use comps from comparable public companies in a similar phase. For example, if you have a company with a drug in Phase 2, you can calculate the multiples for Phase 2 companies that are currently public.

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.
 

Ea dolore odio qui impedit. Ea facere eveniet velit aut. Laudantium sint provident nemo fugit ut. Similique ut doloribus et ea qui.

Nostrum nemo veniam doloribus aliquid suscipit et atque cum. Praesentium explicabo nulla quis recusandae non vel. Quia est soluta omnis perspiciatis et. Aliquam ipsum sint reprehenderit est pariatur est.

Dolores molestias architecto et rerum itaque quia. Qui earum ipsa ea nesciunt et iusto. Est vitae commodi dolore aliquid qui.

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.2%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.2%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.8%
  • JPMorgan 01 97.2%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (48) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (83) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
DrApeman's picture
DrApeman
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”