F*ck it I'm Going to Med School
Title says it all. Just hit 1 year in one of the best groups in banking, and I'm thinking of giving it all up. Since I was ~15, it has always been "chase the next best thing", get a good SAT, go to a top school, go to a top bank, get top bucket, go to a MF post banking, and all for what? I'm done. I've matured now and I realized that If I continue down this path I'll be 40, loaded, but unfulfilled. I've worked 100+ hours 75% of the weeks I've been here so why not work that hard towards something that is fulfilling, stimulating, and cutting edge.
I've always had an interest in medicine and I believe if I put my mind to it I could push through post bacc classes/med school/ residency to become a surgeon. That is the path I would be interested in taking if I left finance. Someone tell me if this is rational or naive, and if anyone has been in a similar position. Or for anyone that has stuck it through in IB/PE, are you fulfilled?
Another week, another GS IND analyst biting the dust.
well GS IND is not one of the best groups in banking...
Based on the most helpful WSO content, your situation resonates with many who have faced similar crossroads between finance and medicine. Here are some key insights to consider:
Fulfillment vs. Financial Success:
Many professionals in finance have expressed concerns about long-term fulfillment despite financial success. Medicine, while demanding, offers a sense of purpose and the opportunity to make a tangible impact on people's lives. However, it's crucial to ensure that your interest in medicine is genuine and not just a reaction to burnout or dissatisfaction with finance.
Time and Financial Commitment:
Transitioning to medicine is a significant commitment. You'll need to complete post-baccalaureate courses, medical school, and residency, which can take over a decade. Additionally, the financial burden of medical education is substantial, and you may not start earning a competitive salary until your mid-to-late 30s.
Work-Life Balance:
Both fields are demanding, but the nature of the work differs. Medicine involves long hours, especially during residency, but the work is often seen as more meaningful. In contrast, finance offers faster financial rewards but can feel less personally fulfilling for some.
Advice from Similar Transitions:
Alternative Paths:
If you're drawn to the healthcare sector but hesitant about the full medical path, consider roles in healthcare finance, biotech, or pharma. These fields combine elements of both industries and may offer a middle ground.
Ultimately, the decision comes down to your personal values and long-term goals. Reflect deeply on what drives you and seek advice from mentors or professionals who have navigated similar transitions.
Sources: Leave Top Surgical Residency Program for Finance, Getting into Finance with a MD, Give up medicine for ibanking? (Undergrad at Northwestern BS MD), What would you do if you were me? (Medicine vs Business), Medical School --> IBanking
Did you just now have a grand epiphany that the spreadsheets never loved you back?
It’s hard but there are people who go through medical school later in life, knew two. Would just really take time to reflect that this is truly what you want to do. It’s no cakewalk either. For those who feel called to help others though it seems to be a really fulfilling career.
Grass is always greener... sounds great until you work 80 hours a week in residency making 60k a year
With $400k of loans accruing interest..
Do you have a true passion for medicine or is this just a "sort of interested" situation where you'll read medical articles when you're having your Saturday morning coffee.
It's normal to feel burnout and dissilusionment but this seems like an extreme solution.
I'd take time to think about things you've enjoyed and not enjoyed about your job, as well as interests that don't involve sinking 8 years of your life into another education path. Any mentors you have you could talk through this with?
Sounds like a terrible idea if I’m being honest. Work is just work, nothing fulfilling aside from what you’re able to do for your family and others with the income.
Careers aren’t for fulfillment, that’s what families and children are for
you'll spend 1/3 of your life working so might as well do something that can be justified beyond an income
yes, like making decks for people who wouldn’t give a shit or even notice if you live or die
Do hospital system admin
Me too
Are you actually interested in medicine/biology or is it mostly due to the prestige and pay
Always thought a dermatologist would be the most elite job. Hyper competitive to get into but once you're practicing it's $500k+ for 40 hours a week.
U got one life bro. Optimizing for the top of anything is just gonna be boring at a certain point. If you wanna be a doctor and find science genuinely interesting then do it.
You’ll live a comfortable life following either path
Having already applied to Medical School once and in the process of reapplying this year, I have the mindset of “I missed out narrowly the first time round, if I get it this time, I get it, if not I move on”. At the end of the day you can make loads of money, gain loads of prestige and be fulfilled in loads of different careers - Medicine is just one.
If you’re in it for the money or just have an interest in STEM, you’re better off going into VC or PE or Consulting and specialising into Healthcare. If you’re in it for a better lifestyle, you’ll quickly find out that doctors do boring paperwork for much of their day followed by mostly routine procedures - the real world in Medicine is not Grey’s Anatomy the same way it’s not like Wolf of Wall Street or American Psycho in Finance. It is not enough that you want to save lives or have a more meaningful career - you can join the Military or an Intelligence Agency, work for a charity, become an EMT or do any one of a hundred other things apart from going to Medical School.
You’re in a far better position than most applicants to Medical School - you have a backup career, some real life experience to talk about in interviews, probably are personable if you’re working in IB and smart enough to even get into IB in the first place - but your post sounds more like “I’m not feeling fulfilled by my career” rather than “I want to become a Doctor”. I’m not saying don’t even bother applying but start preparing for the MCAT first, get some experience (volunteering at a Hospital or Clinic, for example - anecdotal evidence but it was an absolute eye opener for me not to mention it is a requirement for many Medical Schools) and by then you will have a good sense of if you want to apply or not - if you do then go for it; otherwise look at other pathways that fit what you want out of your career.
Don't know the individual well but I know a former IB analyst who spent a few years in a non-healthcare coverage group. Now he's a surgery resident. But grass might be greener on the other side (so I can't offer any insight if he's happy with his choice, we met randomly a few times 10-15 years ago when I was in HS / college freshman and never kept in touch).
I only remember him because he had a unique plan of pursuing both pre-med/finance together but didn't seem sure which path he wanted to choose (sharp kid, I'm not surprised at his success). So medicine wasn't something he wanted to pursue out of the blue.
banking is fake hard (unreasonable deadlines + people yell at you + work a lot on drudgery)
med school+residency is actually hard (learn tons of difficult material, worries on debt/finances for 10 years or more, patients die if you mess up, plus the banking hard of deadlines/hours/stress)
Do you like working with people? Physicians are the only group of professionals that have to deal with the masses. The general public varies between great and absolute assholes. Depending on your specialty it may be essentially impossible to be outside of either a large group or some employed model (hospital-owned, which is not so bad usually and sponsor backed which usually sucks), only plastic surgery, cosmetic dermatology and direct primary care or concierge medicine allow for a physician to own their practice and destiny.
With that said it can be immensely rewarding, pay has a strong floor and while there is a cap it’s pretty high. Beyond the monetary aspect which is honestly one of the less important things, medicine offers a lot of variety, but at the end of the day the pathology is similar most days eg a primary care is going to see a lot of diabetes, obesity, hypertension, heart failure, an ophthalmologist is going to see lots of cataracts, glaucoma, macular degeneration. The stressors are dealing with the risk of being sued, dealing with insurers that are resistant to paying for almost anything and administrators who want more, more patients seen, more revenue generated.
I think it is valid. Hard things are a lot easier when you like what you are doing
Wife is a doctor and now a full-time attending. As long as you genuinely have an interest in medicine (sounds like you do), it's not a bad career at all.
Lifestyles vary drastically between specialties but across the board one thing incredibly underrated is how much location flexibility you have. Yeah it kinda sucks to be a doctor in SF or NYC just given COL and how pay doesn't scale much, but if you're in a T2 or T3 city you can live really, really, well - sometimes paid more vs T1 not just on a COL-adj basis, but on an absolute basis as well given harder to hire.
what about PA school instead of Med School?
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