2nd yr Biotech Equity Research looking for next steps......

Escalation's picture
Rank: Monkey | 40

I have been doing biotech ER for almost 2 years now at a non-BB...came from a science background...

Wondering if it is common or how feasible to jump to healthcare IB as an associate? I just want to do something more exciting while ER (since I don't want to be a stand-alone analyst down the road) seems boring AND not $ rewarding like the banking side...Getting to a quality shop on buy-side proved to be hard for me since I have no Ph.D./MD/MBA or industry experience, still too junior in this game... The problem with my own feeling is that I think ER is an intermediary/mediocre thing to lots of other business segments on sell-side and that really makes me feel less and less exciting day by day...

Are there any tips on networking or other ways to break into healthcare banking? I would really appreciate it!

Comments (13)

Feb 29, 2020

thank you!

Feb 29, 2020

If your goal is HC PE, going to IB may lead to you "wasting" your ER years as you may have to start as an Analyst again. Perhaps AN2, but still analyst. Another option could be to go to a consultancy that places well in PE and is strong in HC (e.g. PEY or LEK). Spend 1-1.5 years there, then pivot.

Mar 1, 2020

very good advice! never thought of consulting...will dig into it. thx!

Feb 29, 2020

I'm confused...you say you come from a science background but don't have an MD or PhD which is how I would define having a science background for biotech associates. There seems to be an increasing amount of recruiting from biotech ER for IB associate positions in healthcare that are looking for people with a science background - I've seen at least a couple in the past month. But again, you're having to compete with people with advanced degrees and anything requiring a science background is basically a screener for having an an MD or PhD.

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Mar 1, 2020

Thx. I am more like PhD dropout type candidate......not science enough compared to people with degrees for sure...but thx for the color.

Mar 1, 2020

What about Masters people? are they grouped along with MD and PhDs ?

Mar 1, 2020

Probably not.

Mar 1, 2020

Do you not think it's harder to cover biotech stocks if your not a STEM graduate? I ask because that's a sector I want to cover. Also, what are the big HC conferences that must be paid attention too?

Mar 1, 2020

All medical conferences covering different therapeutic areas: oncology, eye, and different modalities. For sure harder than for PhD/md people but is doable...at sellside...the hurdle for buyside therapeutic analyst is higher as it almost entails advaadvanced degree,

Mar 1, 2020

as they almost require advanced degree, if not, industry experience...they need people who really know their shit. For sellside, high bar only for senior independent analyst.

Mar 1, 2020
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