Value of an E-MBA
I'm a 38 year old medical-oncologist working at one of America's best cancer centres. I'm Department Chair of Head & Neck Oncology and I make about $600K annually. I've always had a lingering passion to join corporate finance but parental pressure made me take up medicine. A few months back I got into Kellogg's EMBA program and my hospital is ready to finance half the fees. The hospital head has also hinted at a possible C-suite position for me once I finish the program. Is it worth spending $100K on an EMBA? I have 3 young kids & I'm a single parent. Once I finish my EMBA can I gravitate towards private equity, VC, HF etc.? Is my healthcare background/experience coveted in corporate finance?
Given what you are making in salary, there isnt much upside for you in PE on a risk adjusted basis. Why would you want to go through the pain of recruiting at this age and time in your life and the uncertainty of getting a role in PE/VC industry..
If your employer is willing to fund half the tuition for a C Suite role, I would suggest you take that option, stick with it while pursuing your EMBA, get the C Suite experience and after a year or two try to network your way into PE/VC at a senior level. Go for EMBA to get to the C Suite position and not to recruit for PE/VC..
Speak with your employer what they are envisioning for your career, if you can move into the management team at the hospital after the degree - it might make sense (if that is what you want).
I wouldn't advise you to leave your job and craft a new career at this point in your life. corp fin isn't nearly as cool, interesting or "future proof" as what you have right now. the barrier of entry is high in medicine and it takes a lot of effort to get where you are. please don't throw away what you have because the grass is greener on the other side. everyone and their dog is migrating to cities and everyone believes they are the next finance champion (they are not). Where you have the knowledge, title/status, income and more that is proven and well deserved.
Agree with the comments above, given what you do for work now you may find a finance role less satisfying.
I'd get in touch with Ram Jagganath at Blackstone. He's a northwestern MBA alum and runs healthcare growth / tac opps for them.
I know my firm has historically hired people with your background as operators and I've seen doctors go to Hedge funds / debt funds to invest in medical royalties and new drug development.
What would the salaries be of a medical MD going to Blackstone, or a doctor working at an HF? Genuinely curious
Most of it depends on your current work life balance. If you are getting by only working 40-60 hours a work, I don't see a reason to leave and go to PE. Especially considering you have three kids, you're one of the lucky ones (I assume, since you didn't mention it), that has both a great salary and somewhat of a normal family life. As other users have said, I think the cons of finance outweigh the pros in this case. But its your life, you do whatever you think is best
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