Leave Top Surgical Residency Program for Finance

Went to a target in science before studying finance, so I somewhat get you. You’d likely be highly regarded for roles in healthcare private equity. Non-science people don’t seem to realize this, but the amount of research that goes into pretty much any life science educational background is highly relevant for due diligence, investment memo writing, high pressure and rational thinking-related roles. I’d skip investment banking and focus on, again, healthcare PE, healthcare/medical devices equity research and similar roles. Perhaps even healthcare tech VC if that’s something that interests you.

You’ll likely need to sharpen your financing modeling knowledge because it’s unlikely that you’ll get a free pass on finance technicals and modeling tests (unless perhaps in VC? Unsure), but otherwise you have industry specific knowledge and transferable skills that not many have. That being said, you’re CV

Tbh, I think the most interesting part is the story. Being unique in an interviewing process won’t be hard, unless you can’t properly explain why you’re making the move. That being said, you’ll stand-out from a resume point of view so getting first round interviews shouldn’t be too difficult. I’d suggest spending some time on scanning the industry, scheduling coffees with people in the roles mentioned to gauge the fit and learn more. Networking will be key in your transition, so it’s basically a double whammy. I personally opted for a non-healthcare industry for PE. I felt I needed a break, so don’t worry if that’s your case, because as mentioned the transferable skills are there. All you have to do is showcase them through your story during interviews.

Good luck!

I've seen Evercore post some mid level roles in research that targets Medical Doctors

I can't see how this wouldn't be MORE interesting to many recruiters than your bog-standard commerce/finance degree. There's definitely been a push to hire more STEM grads.

Having never been in your situation, there is no way I'd leave your program for finance. Medicine has to be about 100x more intellectually stimulating and you're actually helping people. If you're really dead set on making the switch, it shouldn't be very hard. But why...you seem to be nearing the end of the medicine gauntlet.

Thanks alot for the advice! I'll look into the roles you mentioned. Are people open to receiving emails cold out of the blue?

There's alot of finance/business conferences on the campus of where my residency program is since the MBA program is one of the top in the country.

Would it be a good idea to sign up for one of the healthcare business conferences they host on campus, so I can make contacts at the meetings? It seems like it would be better to meet someone in person first, rather than cold emailing them out of the blue.

One thing I wonder, though, is whether it is financially reasonable to switch so late in the game.

I have 3 more years of residency left. After which, I'd be guaranteed a $320k-400K salary for the rest of my life. Since ENT is a fairly low stressful surgical field, I wouldn't have to work many weekends.

Finance seems more interesting because medicine is absolutely soul crushing with the amount of documentation and BS. But I'm just not sure how much finance/ER pays in comparison to being a surgeon.

Finance, especially banking has a very low success rate. Of 100 associates, maybe 2-5 make MD level (where you make $1mm+). Doctor will be a safer, more stable and less demanding on your future lifestyle, even if you make MD level.

dont do it

Do not do this. It's your life, but in my opinion it would be a huge mistake. Here are just a few reasons why:

• Your medical training might separate you from the crowd in finance, but it might not. I've seen physicians move into banking and thrive, and have seen others completely fail

• You seem to not like paperwork, documentation, etc. Those things are not an annoying aspect of finance, they are pretty much all you do. Some of it is interesting, but much of it is mundane, repetitive, and pointless.

• You can practice medicine in any city or town in the country and in 95% of them you will be at the tip top of the income and status ladder. Switch to finance and you'll pretty much have to spend the rest of your life in NYC or SF (maybe Chicago...from there it falls off sharply), where you have slightly above average purchasing power and status.

• As an ENT you will have near total control over your schedule. You can work anywhere between 4-7 days a week (up to you) and no one will bother you. Finance you will work 60+ hours a week until you retire. You will miss ALL kinds of things - family events, vacations, kids' sports, birthdays, etc - that you will never get back.

• You will probably need an MBA to enter finance no matter what (whether that's IB, ER, private equity, etc.). And if you go the equity research route, be advised that it is largely commoditized and compensation is headed in a bad direction.

• Lots of ways you can make additional money as a doctor. Hire yourself out as a consultant to venture capital or PE firms, patent and license the IP for a new medical device, get an executive MBA and join a medical device company or HMO, etc. etc.

Just a couple of quick points from someone who is in finance and is also dating a resident at one of the programs you listed: - It's not uncommon for 1st year residents to feel down - it is often the most difficult year in terms of hours, ramping up to full speed, etc. - You've put a lot of time into becoming a physician - there is no guarantee you will land something in finance whereas you have a strong possibility of being a successful doctor as long as you stick with it. - The grass is always greener on the other side - many people envision a different career path as being "better" or "more interesting", but at the end of the day each job possesses its positives and negatives. All jobs have that. - Perhaps you deeply love finance (in which case, why didn't you go that route out of undergrad?), but I would seriously consider the opportunity cost of making the switch at this point in your life.

Thanks for all the advice. It does seem like the transition from Medicine to finance involves alot of risk and could potentially go very poorly. I think I'm going to go ahead and finish residency, then if I don't like medicine after a few years, I'll attempt to switch over to the finance/business side.

I appreciate everyone's input and advice!