Would going to med school be dumb?
I love the idea of medicine and practicing. I also love IB. I am currently in ER finishing a masters. I guess I am wondering if going to med school then coming back to IB would be dumb or not. What do you guys think?
My family works in the medical field / doctors / scientists / pharma / psychology / surgeons, etc
Not sure how easy it would be "to come back to IB" after you study and work in medicine, which will take many years. A medical degree is one of the areas that take an enormous amount of dedication, time and practice. I am sure you would eventually find a way back to finance, but as what?
Medical or biotech startups within VC
PE shop focused on medical investments
Managing a very large-scale hospital-group with a focus on M&A
etc.
Not impossible, but you'd have to be very open minded as to what will come afterwards...
IMO not worth the headache if these outcomes are your goals. All are achievable without a MD besides maybe a quality LF VC firm with the opportunity of upward mobility where a MD/PhD is essentially a necessity.
OP, only go to medical school if you plan to actually help patients. If you find the finance aspect of healthcare more appealing, go that route. Although I do admire the few docs I know that have gone to these type of roles - PE/M&A roles (multimillionaires who wouldn't have made nearly as much via just medicine), I find a lot of them to be more greedy than altruistic no matter how nice they may seem. Examples would be - growing an outpatient clinic company to more locations during the COVID onslaught with understaffed locations and charging obscene fees for high end concierge care (aka surprise billing for their patients).
What is your background? Do you have the pre-requisite courses? How will you do on the MCAT?
I know a girl that went to Harvard Med School and then she graduated and went into Healthcare M&A.
I work in healthcare - know several doctors pulling in $1M+ in mid-COL. Takes 7+ years to start practicing, and then pay ramps up if you are specialized. Location plays a huge role too - if you’re the only doctor in 300 miles, doesn’t matter what you do. You’ll be able to command higher comp.
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