I think it’s going to be nearly impossible to win healthcare PE roles without transaction experience. I’m not sure of other networking opportunities for that field specifically, but maybe think about healthcare VC conferences and approach it from that angle instead. VC might be somewhat easier to get into because you need more market knowledge and less transaction experience.

Thanks for the reply Brian. I’ve been emailing firms over the last few weeks and attending networking events with professionals working on healthcare from a PE aspect. The issue I seem to keep coming across is that most of the smaller firms are only looking for the finished article and even junior analyst roles require some transaction experience. I feel like I’m hitting a brick wall at the moment but I’m guessing this is the case for most people. Are there any other events or forums you are aware of that would be good for networking? So far I have only been using the CFA events.

I’m not sure that equity research is the best path for PE roles because you don’t work on transactions there. It might be a bit more helpful for VC roles since transactions are simpler and easier and you don’t need to know as much.

If your experience is mainly in the back/middle office at large banks, maybe find a healthcare boutique bank or some other valuation-related firm that focuses on the healthcare sector and move in like that. If you have a solid equity research opportunity, sure, go ahead and explore it, but you really need transaction experience to have a good shot at most PE roles, which means “investment banking” in most cases.

I have a life sciences degree (Pharma Chem) and am a CFA Charterholder but my work experience is back/middle office functions in investment banks so no help for getting my onto the private side.

If you’re graduating this year and have no work experience, you don’t have a chance at traditional finance roles (IB, PE, ER, etc.). Your best bet would be to look for something in corporate finance at a normal company (such as GE’s rotational program) or do something else that’s more closely related, like business development, and then move over from there. A Master’s in Finance would also help with the transition because it would allow you to get internships more easily.

If none of that works, an MBA would be your Plan C.

Sure, but at the undergraduate level, few students will have significant publications. And most candidates recruiting for these roles will have undergraduate experience and some amount of finance experience.

Sorry for the broadness of the statement – I know finance is a large field. I would say I am interested in ER or IB

Ultimately, I am interested in working in life science venture capital or starting my own business.

I think the point was simply that you have to attend a relatively good school for the “science” part to work. We can debate what the cut-off line is – maybe it’s top 10, 20, 50, or even 100. But if it’s a school without much of a reputation, even a Ph.D. will help you less than expected.