Breaking into Life Science Consulting
Hi All!
I've seen a lot of posts about people transitioning from a PhD into life science consulting, but none regarding people who want/who have jumped ship with just a Master's Degree. I have a Master's degree in Biomedical Engineering and have been working at a startup biomedical company for over 2 years and am ready to jump ship ASAP. My question (to anyone out there willing to help a chimp out) is the following:
How do you compensate for a lack of consulting experience? I see a lot of entry level positions in firms requiring some level of prior consulting experience...
HELP!!
When you say life science consulting do you mean to work in the financial industry or the pharma one?
I was referring to the financial aspects of the life science consulting as opposed to laboratory activities such as cycle development/ optimiziation.
Not sure if you have any geographical preference but there's a boutique strategy consulting firm in North Carolina called Triangle Insights Group that specializes in the biotech sector and really likes recruiting people with bio background.
Thanks! I;ll definitely look into them. Would you have to know of any such firms in the NYC/ Greater New York area?
On the point of MS in life sciences, it depends on the firm, but there is still an entry point. It may be at a different level, where you are coming in with, or a bit ahead, of undergrad hires vs through a post-graduate channel. For that route, consulting experience should not be necessary. You do want to look at the specific path for an MS hire - ideally you can keep moving up internally without an expected leave/come-back for a MBA along the way.
As far as firms go, you can get a lot of the names and website data from sites like vault. As a list in no particular order other than perhaps scale:
IMS, ZS, InventivHealth, Parexel (incl. former Health Advances), Quintiles, LEK, Navigant (incl. former Leerink-Swann), Huron (incl. former Frenkel Group), Putnam Associates, Clearview, Clarion, Back Bay Science Advisors, SKP, Pricespective.
My apologies to anyone I left out! Waiting for morning coffee to kick in ...
Thanks a ton! I found that particularly helpful and reassuring.
Any idea how to break through as a former clinical doctor with published research experience and some transferrable skills?
How to get into consulting from a bio/science background...? (Originally Posted: 05/14/2016)
I just graduated from a reputable public school (not a top-tier) undergrad with a BA in psych/neuroscience and political science with a science-heavy background. I also have 3 years of experience working in a top research institution with some health and public health related internships.
I have great grades and can also probably get excellent recommendations from previous supervisors/professors... but being that I don't have any formal experience or even internship experience in consulting or a background in finance/econ etc, is it even possible to get an entry level job (preferably somewhere in NYC)?
Why consulting? Why now? You'll want to make sure you have an answer to those questions because, regardless of where you end up applying to, that question is going to come up from your interviewers. Make sure that you can position your current experiences in a way that you can paint that picture for them.
I think your best bet at this point is to focus your efforts on life sciences boutiques. A few that come to mind: -Health Advances -Trinity Partners -ClearView Healthcare Partners -Putnam Associates -Decision Resources Group
Another potential play is to look at places like The Advisory Board Company, which take tons of folks with your background for their strategic research arm (not pure-play consulting, but could be a way to get your foot in the door).
Either way, I would start networking with alums, former classmates, etc. to get intros. In addition, you'll want to start prepping for case interviews (get a copy of Case In Point) as pretty much all of the above firms will have you complete a few.
Transitioning into Consulting from Biology (Originally Posted: 02/15/2017)
I am bio PhD student in a top Asian School. I have recently been dissatisfied with academia and a recent stint solving case studies and real life probing consulting at a student lead organisation made me even more excited to look at the field of Management consulting. As a PhD student I have always loved solving problems and the Management consulting and the case studies gives me a much more relevant problem to work on (rather than a protein going some where and doing something)... However knowing well that breaking to of academia can be a difficult thing to manage I have decided to step up on my other skills. I have taken leadership positions in the Institute, Department and the University organisations, learning data analytics (through the John Hopkins Coursera certification), financial modelling( udemy) . Apart form that I have taken part in Business competitions and have won a couple of them. I am also trying to qualify CFA level 1 this December. I am also picking up foreign language skills (Mandarin- passed HSK 1). I still have 2-3 years for graduation. Any tips on what to prioritise and how to increase the chances of getting in. The major drawback I have is that I have not been able to network properly. I am working on it and any tip is greatly appreciated.
Start to network as soon as possible and consider doing an internship before you are done. Not only will it look good on your resume/position you well for recruiting, but it will also allow you to see whether consulting is as good a fit as you think.
Thanks for your response! I am trying my best with that. Networking using LinkedIn can be one of the tools , I am trying to send in Personalised messages to people in different levels asking them for their guidance and openings ( I am of course willing to work without pay- I guess it makes me look quite desperate) but the response has not been so good so far. Do you think this courses I have beentaking to stand out in the profile will do any good or should I devote to full time networking?
MS Molecular Biology-How to Break into Consulting industry??? (Originally Posted: 03/15/2011)
Hey all-
I went to University of Illinois for undergrad with majors in Bio and Psych. Following undergrad I immediately went to Loyola university-Chicao grad school and am pursuing an MS in molecular biology (No work experience after college). I will be finished with my MS May of 2012, however, I would like to break into the consulting industry upon completing the degree. Does this sound feasible and if so, when should I start applying? Further-what can I do in the meantime to strengthen my chances of getting interviews at various consulting firms (I open to any firm). My GPA from college was 3.2 and grad school 3.1...(not the best ,I know). I am basically open to all ideas-so please share! thank you all-your advice is greatly appreciated!
-MSD
If you can get TS/SCI apply for government consulting firms.
Neuroscientist looking to get into life science/healthcare consulting (Originally Posted: 12/02/2015)
Good early morning everyone:
I am a 26 year old neuroscientist who has a undergraduate and master's degree in neuroscience and a minor in psychology from a prestigious top 50 university. For the past year and a half, I have been working as a clinical researcher who helped design, implement, and management Phase II and Phase III clinical trials at a major academic hospitals in the USA. Through my work, I've had the opportunity to work on projects and initiatives aimed at improving various hospital metrics, such as LOS, readmission rates, infection rates, etc. Many of these endpoints are vital in the wake of ACA as hospitals are getting fined for their poor(ER) measures of care. Through my quality improvement projects and clinical trials, I developed a real affinity for working in hospitals, working with hospital faculty and staff, and consulting with administration to find out ways to improve the quality of life. I did not think I would get here 1.5 years ago, but I am thrilled that I found such a challenging and interesting field that is constantly changing. My work has been nationally recognized by national specialty groups at practice management conferences for excellence.
Considering this, I wanted to get into some level of consulting, as I believe working for a firm with a shared passion/interest could be the best way to stimulate my mind, help others, and improve healthcare for all. However, one of my issues is starting the search and finding the best way to market myself. I know many firms like to have PhDs, MDs, for their more experienced positions, so I am willing to start at an entry-level position. Which firms tend to hire younger consultants, and which cities are most of these firms located in? Are there any firms that I should be on the look out for, is not having a MBA going to hurt me (I have an MS).
I have various leadership experiences as I taught during graduate school and gave poster board and oral presentations for some of my 1st authored published research. I feel like my skills mesh well into the consulting and I am eager to try to find my way into the industry.
Please let me know what you guys think!
Thanks!
Any thoughts?
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