Healthcare / Life Sciences - Consulting, IBD/PE/HF/VC

I'm currently a 22 y/o student, graduating in 2 years with a healthcare-related degree (NOT an MD) at a non-target, who is interested in pursuing some non-traditional routes - I'm currently considering Consulting, IBD/PE/HF/VC.

I've been contemplating on whether to make B School a part of the "plan" for awhile now, but planned to be focused on biotech/pharma industry or healthcare.

However, I've only been recently made aware to the fact that there are many healthcare-focused financial services and consulting shops. Are these guys - e.g. HC PE and life sciences consulting shops - looking for people with HC backgrounds? Or are they typically more interested in finance people?

I think HC PE or the life sciences consulting would be an amazing experience to start off in fresh out of school, not just for the money but also for building the network and getting various exposures. So the BIG question: would I actually have a chance without an IBD background/experience?

Thanks very much in advance.

I've done some serious hunting through WSO and I would highly value some time to talk to some of the folks who know how to mix HC with finance.

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Comments (7)

Oct 6, 2014

PE shops do not invest in high cash burn rate biotech companies.

IBD ER/HF/Consulting (clinical development) shops typically look for people w/ Masters, MDs, or PhDs. IBD industry coverage groups and some VC shops are agnostic.

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Oct 7, 2014

Honestly not really.

You'd need at least an MD/DO to account for lack of structured experience.

"It is better to have a friendship based on business, than a business based on friendship." - Rockefeller.

"Live fast, die hard. Leave a good looking body." - Navy SEAL

Oct 9, 2014
UTDFinanceGuy:

Honestly not really.

You'd need at least an MD/DO to account for lack of structured experience.

Would a PharmD (pharmacy) cut it?

Oct 9, 2014

Most PharmDs (those I know) in the biotech industry are in sales roles, which is very lucrative these days given the reimbursement structuring for immunoncology/rare disease therapeutics.

PharmD may cut it, could certainly work in ER covering Specialty Pharma.

Oct 9, 2014

This is great advice. Not the traditional finance-oriented role, but there are biotech/pharma sales roles which will compensate very very well and you can utilize your knowledge AND business acumen.

"It is better to have a friendship based on business, than a business based on friendship." - Rockefeller.

"Live fast, die hard. Leave a good looking body." - Navy SEAL

Oct 9, 2014

I know someone that works at sub $200 million AUM HC PE firm. They typically invest in very non-sexy HC companies. Think specialty pharmacies/ doctor clinics, pregnancy test kits, etc.

The Managing Partners of the firm are college drop outs with serial entrepreneur experience but all the other employees on the deal team have conventional IB experience and most went to H/Y/P type schools. In conclusion, if you want to do HC PE without a conventional background, having a $50+ million net worth helps.

Oct 9, 2014