Finance vs. Medicine
I'm an incoming college freshman at a T-20 undergrad and am unsure about whether I want to pursue finance or medicine.
Background for Current Career Dilemma
Let me preface this by saying that money really isn't my main motivator and I'm actually genuinely interested in both fields. My parents and my older siblings are all physicians, so I've had a lot of exposure to medicine and have enjoyed shadowing and observing interaction with patients. On the other hand, I've read a few books about finance and find IB interesting (both the technical side with financial modeling and the soft side with client interaction).
tl;dr: I prefer the security of medicine, but I think I would prefer my actual job as a banker
Advice on Different Career Paths
Medicine and banking are two very different fields, so it's worth learning as much as you can about both careers before deciding which path is right for you. Here is some advice from the WSO community on this situation:
- Pursue what you're most passionate about
- Go with your gut
- Try to get experience in both through internships/externships/volunteering/shadowing to help you decide – there's only so much a pro/con list can tell you
- If you go for finance and realize later that medicine is your calling, you could do a post-bac program and finish med school requirements
- If you go for medicine and realize later than finance is your calling, you could do an MBA and work for a healthcare-focused firm/fund
- Consider the educational requirements and student loan debt that comes with both fields