Trying to secure a SA in IB but I am feeling judged by my Medical Background
Hi all,
I finished a degree in Medicine last year at a target uni in the UK (think of Oxbridge, Imperial, UCL) and now I have started my specialisation in Spinal Surgery, a specialisation that I don't plan to finish since I want to transition to IB. I have had a deep interest for the financial markets and corporate takeovers for a while, I have spoken with many professionals in the industry, and so far I love all what I have heard. Additionally, being a spinal surgeon in the UK is really underpaid compared to most countries, so going to banking makes a lot of sense from a financial perspective.
I have managed to get some interviews for SA and Off Cycle internship positions, but so far I feel negatively judged by my background in Medicine, which is very surprising when in London Investment Bankers come from many different backgrounds (Business, Economics, Engineering, Classics, History, Physics...).
I understand having a candidate currently training to become a back surgeon is not the most common, and I can understand people ask me for my motivations and my interests in banking, but I just notice a big portion of my interviews are just focused on this while for other candidates they let go much easier.
I have also noticed prejudices from some interviewers like they criticise me for wanting to make this career jump at 25. Has anyone being in a similar position? How did you manage it?
I totally understand their bias. You're making the switch way too late. You not only went to Medical school but also enrolled in probably one of the most sought after medical specializations. You most likely snatched away your spot in spinal surgery from someone who actually wanted to become a surgeon and had a real passion for it, and what is worse, in the future hundreds of future patients will have to be placed for longer in waiting lists just because one of the very few people who could have helped them decided that he wanted to run DCF and LBO models instead.
Medical students are not like accounting, history, or engineering students. Society actually needs doctors to attend the people in need, so I understand it can be controversial for med students to go to banking. Given the current state of the NHS and the shortage of doctors and nurses in the UK, it is indeed very problematic that the reinforcements for our healthcare system go to banking or to any other field.
You're free to become a doctor as well
People like you are why the NHS is so fucked. Entitled general public who think NHS workers need to sacrifice their life for the good of the country whilst you sit in a luxury office all day pushing paper creating zero value for a ton of money
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I do see your point, but I have to disagree with this - it's too harsh. People are allowed to change their minds, especially at a young age without much life experience. Nobody should be sort of blacklisted from "society" for wanting a change their path - that's too "Brave New World" vibes.
Besides, if we want more spinal surgeons, the better solution would be more NHS funding or more funding for universities to accept more students in Medicine. It's a very tough career
The NHS is going to be sh!t with or without him, if you want proper care in the UK go private.
If you've had a 'deep interest for a while', why did you not select another degree when you had the chance if I might ask?
While age isnt a problem (given Big 4 transfer into IB at ages as late as 29), 25 is late considering you have only just decided to transition to finance.
I would say consider a Master's with a pinch of salt (unsure of how it may work / work differently given you're starting a specialisation), as (assuming no internships during your undergraduate years) it might be tough.
And although you worded the fact there's lower pay in the UK for a spinal surgeon, you should maybe consider other countries to become a spinal surgeon (or change specialisation to incorporate better pay here, if thats possible?). It is still a great role - at the very least much more rewarding than finance.
Completely disagree with above as he has no idea what he's talking about. Made similar switch but whilst at uni feel free to PM or reply here. Would generally say your/our background is super respected and interviewers are probably just curious on your motivations as easy question to ask. Learn how to sell your background well and should be fine. Realistically you have a lot going for you compared to the average finance grad.
Although ngl have definitely noticed in one interview with an EB with a director in healthcare I was playing up my background and he was like well you don't need a HC background for our team so maybe he felt insecure lol.
I guess it depends on interviewer, in some of mine it was obvious when the interviewers genuinely respected the background.
What makes you think your interviewers are biased or are judging you? If they're challenging you on the deicision and your interest long-term in banking, I think that's justified - unlike most subjects, Medicine is very vocational; one doesn't study as much for the academic interest in the content but for the opportunity to learn practical skills and become a doctor. So the decision to leave that sort of long-term discipline should be challenged - have you thought it through? It might seem obvious to you, because you live with your thoughts every day, but it's not obvious to someone meeting you for the first time.
You need to be able to craft your "equity story" and articulate it (remember, a lot of IB is being a salesperson in some way, so it's important that a candidate can properly and convincingy articulate their background and interest.
For what it's worth, I have a few junior doctor friends, and I understand that if they're motivated and network in the right circles, go to the right conferences, etc., they can work their way into finance in quite an interesting way, maybe pivoting to a healthcare-focused PE or venture capital fund after a few years in the industry.
What the hell is it with the negative nancy comments on here??? I have NEVER seen someone with a medical background be disparaged joining finance as much as I have on this thread. It's like you people took what OP said and decided to double down on it for no reason other than being an ass.
I've seen Medical people with like no finance background whatsoever become IB Analysts. The ONLY thing that went across my mind was why join as an Analyst and not a slightly higher position, but whatever.
Also, you people sure are giving this person a whole lot of shit for wanting to switch to become a banker, but if I were a betting man (I am not, gambling is the Devil's work), I would bet that you people wouldn't say anything about a military person switching to become a banker. Why not deride them for "abdicating their duty to the country" or some shit.
God people on this site are morons who will never skip a beat to put other people down.
Ignore the useless comments above. Try your luck in Biotech/Pharma groups where a lot of people have similar stories.
Think some of the negative comments are being a little harsh - doctor is not an easy life, but I agree that people will for sure be skeptical that you are suddenly interested in finance. I would focus on healthcare groups as those will strongly value a medical background.
My guess is you may not be answering the "why IB" story well enough and people think you are just after the money or don't really have a reason for the switch. What do you answer these with?
Doesn’t matter dude, if you’re smart and have a true interest in switching from medical path then go for it. Probably easier to sit at a desk than stand in the operating room all day anyways
Life happens. A target school name is an advantage to be grateful for. Keep on applying & getting better in technicals; extremely high technical knowledge will often get respected (preferably far-higher knowledge than those who came from single-BSc finance backgrounds).
It's a numbers game ultimately – eventually there'll be an interview turning into an offer.
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You will get less pushback from healthcare / biotech focused investment banks. I would personally welcome someone with a medical background because STEM is generally a rigorous degree indicating you at least know how to study and have some willpower.
Sorry, but I'm going to have to ask... you say that you are based in the UK. You've finished med school last year, so you're an F1 (or now an F2 post-August). I don't know anyone who would seriously consider a foundation doctor to have started their specialisation in Spinal Surgery, considering you're doing bloods on the wards and haven't even started the specialisation process yet.
I suggest we stop with the self-inflated position.
Yeah was wondering this. After F2 it would be core surgical training, let alone orthopaedic training and then spinal surgery specialisation
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I agree haha, I got into Medical School in the UK but then took a gap year to apply for something else and you will not start specialising in Spinal Surgery right after you graduate... F1 and F2 need to be completed first
I have a friend who went directly from Harvard Medical School to M&A Healthcare IB in NYC. So it's possible.
Yeah fuck everyone from any random industry trying to get into finance, do you think a banker will wake up tomorrow and be like okay i want to become a doctor, no because both industries require completely different skillsets, you’ll probably be the guy to ask if revenue is greater than GP
No he won't😂
Doctors enter into finance all the time - usually into healthcare teams. It's well-covered on this site. As the comment above said, digging into your motivations is very justified.
Around the age thing, you're probably imagining it, do you know how many old ass Europeans banks hire into An1 roles? A lot.
I've seen people who have finished Medical School, trained as a Doctor in the Army, did an MBA then came as an Associate in Investment Banking
Otherwise I've seen people in Medicine Degrees do Spring Weeks then Summer Internships in the Healthcare teams / groups, which seems to have helped them to justify this interest in finance because they started earlier on
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