Which sector should I work for? Feeling lost..
Hello all,
I'm a licensed clinician, though not a physician, and have worked in hospitals for several years. Afterward, I attended law school and earned my JD. I've been considering a transition into sectors such as IB, PE, HF, VC, or even Consulting. My knowledge of finance-related industries is limited since my background has been predominantly in healthcare since my college days. Also, I don't have any family members in these sectors; we're mainly in healthcare or engineering. I took macroeconomics in college and financial modeling during law school.
From my research, it appears that prospective candidates must first take the pymetrics game, followed by a deep dive into something referred to as case studies. Could someone guide me through this process and offer advice on leveraging my healthcare license and JD in the industries mentioned on Wall Street Oasis? I've tried searching online, but it's challenging to find precedents that align with my unique background. I'm also curious about what additional knowledge or skills I might need to successfully transition into these industries. Having not studied business in college, I'm somewhat at a loss regarding this endeavor.
Thank you ever so! :D
Only a few firms use pymetrics. It's certainly not industry-norm. And they mainly do it for interns/graduates.
Case studies, or at least the emphasis on them, comes from consulting. You may get some cases in HF/PE/IB but its a small part of the overall process. The rest would just be normal interviews.
I have no advice on the rest of your situation, just clearing that up.
Normally doctors go into healthcare IB or ER but idk if that applies to you.
Hey there!
First off, kudos to you for considering a career transition - it's a brave step and I'm here to help you navigate it.
Given your background in healthcare and law, you might find it interesting to explore roles in healthcare investment banking, private equity, or venture capital. These sectors often value industry expertise, and your unique background could be a significant asset.
As for the process, you're right about the pymetrics game. It's a series of online games that assess cognitive, social and emotional attributes. It's often used by firms to evaluate potential candidates.
Case studies, on the other hand, are a bit more complex. They're essentially business problems that you're asked to solve. They test your analytical skills and your ability to think on your feet. In finance, they often involve financial modeling and valuation.
To leverage your healthcare license and JD, you could look for roles that require knowledge of both the healthcare sector and legal aspects. For example, in healthcare investment banking, you might be involved in deals related to healthcare companies, where your understanding of the industry would be invaluable.
As for additional knowledge or skills, a solid understanding of financial concepts and modeling is crucial. You mentioned you took financial modeling during law school, which is great. You might want to brush up on those skills and perhaps learn more about valuation techniques.
Lastly, networking is key. Reach out to alumni or other professionals in the industry. They can provide valuable insights and might even be able to help you land a job.
Remember, it's okay to feel a bit lost during this process. It's a big change and it's normal to have a lot of questions. But with some hard work and determination, I'm confident you can make this transition.
Best of luck!
Sources: Is IB not as attractive anymore?, Help. Feeling Lost, I have no idea what I want in life anymore. Any tips on soul searching?, Dealing with Uncertainty / Burnout as a First Year Associate
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