Medicine to Consulting

Hi there,

I have coached several doctors from the NHS (and also outside the UK) for consulting roles and also met quite a few while at McKinsey.

A couple of observations:

1. You can often transition without an additional business degree. Happy to have a quick look at your resume for free if you want to provide better insight here (DM me). 50% of consultants at MBB usually do not have a business background!

2. Doctors perform well during interviews and on the job (due to the overlap in skills such as problem-solving, stakeholder management, communication, etc.).

3. Doctors tend to stay shorter in consulting and move back to their old profession, to the NHS, or to research.

All the best,

Florian

Yes, definitely they prefer the MBA. It will be better equiped for the consulting job requirements, given the breadth of what is teached there, you will have a better (and more international) network, etc.,and looks better on your resume (i.e., acts as a very-high quality stamp). 

As such, consulting firms create recruitment channels and initiatives geared towards the MBA students, which provide a higher chance of getting an interview. MBA schools also tend to provide guidance and support when preparing for those interviews (you'll also have more peers applying to consulting, and they'll help you out in your preparation effort).

So yes, if your plan is to get into consulting, the MBA would be the preferred choice.

Hi there!

I've worked with a couple of candidates who successfully transitioned from medicine to consulting, and the most important thing to know is that you don't need an additional ‘transition’ degree.

It can help, certainly, but you don't have to have it. 

You can check out this article which provides a thinking framework for deciding whether or not you need an MBA:

• Expert Guide: Are MBAs worth it?

Even if you are planning on applying for such a degree, I would still recommend that you apply in parallel for consulting roles. Here's how to set up the application strategy to make it happen:

• Expert Guide: Build A Winning Application Strategy

Best,
Cristian

As a resident physician, you would count as an advanced degree candidate or ADC for all three MBB firms and fall into the same category as MD and PhD candidates. You do not need an additional business degree, just pay attention to recruiting timelines and apply!

Hi there,

Q: I wanted to ask if consulting firms prefer the MBA over a masters in healthcare management / data analytics?

In general, MBAs are (i) a preferential channel and (ii) allow to join for a post-MBA position (a Master might not allow for that). Having said that, it also depends on the brand name of the school. 

Depending on your current background and target office, you might also be able to apply for a consulting role now, in particular, if you want to target a company with a focus on healthcare. You can find a few companies with that focus listed below:

• McKinsey
• BCG
• Bain
• ZS Associates
• LEK
• IQVIA
• ClearView Healthcare
• Putnam Associates

Good luck!

Francesco

Hi there,

an MBA is usually more universal and ensures that you get your “dose” of business knowledge in addition to your background in medicine. If you go for healthcare management / data analytics, you specialize more. You would then likely have to seek out consulting firms (and practices within) where this knowledge is very relevant in order to make a compelling case for your application - which probably reduces the option set.

But if you are really interested in health management, maybe there are careers in that field as well that are not necessarily consulting. It ultimately depends on what your goals are. You should never disregard anything you are passionate about.

Best of luck

Hi there,

From what I have seen in MBBs, I think an MBA is a more common route and also you will join MBB at Post MBA levels which is likely to be 1 or 2 levels higher if you only have a master and 2 years of working exp. Thanks and hope this helps. 

Cheers,

David

Consulting firms heavily prefer MBAs to any other masters, and this would absolutely include healthcare management.

Not to say it's not possible, but it's not the direct route to consulting.