Doctor in need of advice - 2021 internships


First things first, I'd like to thank all WSO users/contributors - really found it to be a helpful resource for some questions I had. 

I recently graduated from med school in a western European country and have always been interested in business and finance, which is why I decided to enter the CFA program during med school and passed CFA exam level 1 and 2 in my last 2 years of med school.

Being that I'm 24 yo, I feel that I may be too young to know exactly what field I want to work in for the next 40 years and I decided not to enter residency directly and rather do internships in finance. While I enjoy investing and doing financial analysis, I really enjoy business strategy and I think an IBD internship may be more interesting than an ER internship. Given that I'm a doctor and have been following the biopharmaceutical space for some years now, I'm particularly interested in healthcare banking.

I was wondering if getting an internship in IB at BBs/EBs was doable, given that I have no prior experience in finance. Which banks are the top players in healthcare banking in Europe?

I've researched M&A activity in the biopharmaceutical space from 2019 to now and what I seem to notice is that JPM/GS/BAML and Lazard/Centerview/Evercore are the most active players in M&A advisory. But what I couldn't find was which office was involved in these mergers. Considering that I only have an intermediate level in German, I guess FFM and Zürich are not within reach. However, I'm fluent in French. 

Thanks a lot for your help






Comments (17)

  • Prospect in IB-M&A
Oct 3, 2020 - 6:29am

Tough without a business/finance degree. I assume you live in France, I've seen many people studying medecine, going to HEC/ESSEC/ESCP and then joining healthcare teams in banks. Your profile would be sought after and you'd easily get interviews. If you don't want to study for another 2 years and assuming that you have strong quantitative abilities, start working on the GMAT/GRE now to apply to MSc in finance at LSE/Imperial/LBS in January 2021.

Craft an exciting personal story - that you want to leverage your knowledge of medecine and the pharma world to succeed in the field of finance, etc.

Honestly you definitely have a shot.

  • Prospect in HF - Other
Oct 4, 2020 - 6:05pm

Unfortunately don't have too much to add here. But if you are comfortable sharing, I was curious how you are thinking of the opportunity cost of not continuing with the medical path? I admire that you are willing to switch careers and pursue something you'd find more interesting. I'm not completely sure how med school / residency works, but have you spent a ton of money at this point and are somewhat close to being a doctor?

Oct 6, 2020 - 8:10am

The sister of a highschool friend did the following (she was from a European country):

- Master/PhD in Pharma+ internships, realized she didn't like it

- Master of business/finance at a top school

- did some internships on the back/during her masters 

- BB IB HC team intern and MF PE intern

So it's doable, but suggest going down the masters route.

Oct 7, 2020 - 6:33am

But couldn't she intern at BB/EBs prior to starting her master of finance? 

And from your username, I'm assuming you're based in Europe too - any insights wrt which banks have the strongest HC teams in London/Paris? 

Thanks for your help

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