Physician to Consulting Career Roadmap
Hi all. Would appreciate some guidance here.
I am a doctor wanting to switch to strategy consulting (MBB in London/Boston/NYC/Greater China ideal) and eventually specialize in healthcare systems and services. Long term goal is to join a healthcare VC/PE practice in the Asia Pacific.
I am based in the UK and was an international student here. Currently first year post-M.D. (non MBB target school) in a top residency program, leading tertiary/academic centre.
I am currently applying to MBA and MiM programs (Fall 2020 matriculation), and am wondering if my career roadmap plan is reasonably well thought out? I will have 1 year of work experience upon matriculation if accepted to either program. This will really help my interviews!
I have a couple of options in mind:
1. 1 year UK clinical work experience -> MBA (2-Year, US Top 10 School) -> Post-MBA Level at MBB in NY/Boston/SF (preference) or London or China/HK. -> Lateralise to MBB Asia Pacific -> Exit
2. 1 year UK clinical work experience -> MiM (1-Year, LBS) -> Analyst/Junior Associate Level at MBB in London/China/HK -> Lateralise to MBB Asia Pacific -> Exit
3. 1 year UK clinical work experience -> Continue with clinical experience -> MPH -> enter MBB as experienced hire -> Lateralise to MBB Asia Pacific -> Exit
My Questions
1. Which, if any, of the above sounds like the most advisable career pathway plan?
2. Do you have any other recommendations?
3. Is my long term exit strategy a sound one? What kind of experience (e.g. M&A? Reform?) or skills (e.g. Financial modelling etc.) would I need to amass as a management consultant to successfully exit into a PE/VC role?
I am rather unfamiliar with this territory as a medical nerd so please excuse any silly sounding questions. Open to all recommendations and pointers!
Many Thanks!!
OP, you don't necessarily need a Masters (MBA, MiM, MPH) degree to get into MBB. If your sole goal for the Masters is to get into MBB, I suggest you apply directly. All the MBBs have pipelines for Phds and doctors. Applying directly will save you time and money. You need to make sure you are well-prepared for case interviews before you apply though.
Agreed. Whatever you want to do, you should be able to do with a MD, so I wouldn't get another degree just to recruit for MBB. I would suggest networking a bit, particularly with MD's who are now at MBB in your target offices. You can learn more about what's expected of you, how to prepare, if the job is truly how you think it is as an MD, and get your foot in the door.
If I was you I'd go for 3 but given that you want to entirely change careers after just 1 year tells me there are some underlying reasons at play here. Regardless, I think I wouldn't change my advice. I'm not particularly experienced in healthcare so I'll let others help you with the specifics but in general when business people hire non-business people it is precisely for the specific insights and insider experience that person has in the areas they are trying to profit from. A senior experienced doctor who has seen everything in the business and now wants to go for a more macro view by working at a fund is an amazing sell. Some kid who just got out of med school and for some reason wants to switch immediately is not as good of a sell.
May you please tell me how you are managing you medical billing issues?
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