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Medical Doctors in consulting

 
#1 Medical Doctors in consulting
27/02/2004 15:03

Dr Dazed

I'm an M.D., and have recently accepted an offer to start as an associate at one of the top tier strategy firms. I was wondering whether any other MDs who had made this type of career change would be willing to comment on how they had fared - are you glad you made the plunge? Culture shock? How would you compare the work stress to hospital work? Any other specific things to take into account?? Thanks for your thoughts...........

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#2 Re: Medical Doctors in consulting
27/02/2004 15:53

LONDOC

Afraid I am behind you in that I am looking to move myself at the moment, so can't offer much, if any, help.

Would you mind telling me which country you are in and if you just applied direct to your company, or did you have contacts?? Off-line if you would prefer. londoc@hotmail.com

Also, how did you find the interviews, ie did you spend weeks going over cases etc, or did they not expect you to have any specific knowledge?

I presume you are joining one of MBB. For what it's worth, i was at a healthcare event at Mckinsey London this week and was able to speak to a number of doctors that worked for them and had joined from all stages and aspects of medicine. They were all extremely positive about their time there to date and had no regrets at all. Having said that, if they had had regrets they would have gone back to medicine so would not have been there to speak to us anyway.

The ones I met drew comparisons between the two jobs in terms of long hours and stress, but it was often that there was a lot of travel involved and the project based work meant that the really hard work would come in waves, after which you would get a slightly quieter period. They all said that it was not easy at all and that there was a very steep learning curve to begin with, particularly because you go in at associate level and are therefore on a par with people who may have three or more years consulting experience plus be fresh out of business school.

A lot mentioned that the project based style meant that the work was finite, with a degree of variety that you have some control over, as opposed to the endless stream of the same thing coming through the doors of your hospital. I have not met many hospital doctors that shared the same degree of enthusiasm that these guys (and girls) did. It was, however, a recruitment evening so you have to take some of what was said with a bit of a pinch of salt.

Whatever the case, I would like to be in your shoes in a few months time!

Best of luck with it.

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#3 Re: Medical Doctors in consulting
04/03/2004 12:08

Cyberdoc

Hi Dr. Dazed,

i am an MD too, sertified orthopedic surgeon from germany, working in consultancy of healthcare and industrial IT europewide. (Studied business and economics also, though)

The one thing I can say is: be serious about your targets. Fully educated MDs usualy are the most enthusiastic, people friendly workers (AFAIK), untill it comes to the burnout in nhs or other public services, and unless they were not sure about treating patients hands on from the beginning.

Keep your soul and your life-goals as the most consultant companies lack of one thing: lifetime achievements (true value).

Since most of the business, accounting and stockmarkets worldwide is reported by annualy or even quaterly, no one really is capable (or worse:economically interested) in 10-15-20-30 years of success or building up outcome results that stand more than 1 or 2 changes in directors boards, their contracts hold mostly 5+ yrs only anyway. (unlike the medical community tries to calculate)

Thats mostly the reason for the many reforms in health services worldwide too, the two BIG systems "money" and "life" can not be easily synchronized without MDs.

On the other hand, that is exactly why MDs are more and more often found in the consultant area: We are the people seriously dealing with life´s begin and end, when it comes to serious threatening problems... call your doctor. ...and... we can create Visions of Life, while the business and economic outcome is depending on people that can differentiate utopia from visions.

The MDs approach is asked in consulting, to create and help case studies or long time outome calculations. If you can cope with malignous tumors, it is easier to cope with (malignant) bankers, ceo´s or managers used to annual numbers only (Chart wizards are even worse). Problem is: who will shut off the lights, if more and more MDs (and not seldomly still within their education time) step away from patients? Open for discussion, regards cyberdoc

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#4 Re: Medical Doctors in consulting
19/05/2005 21:56

surfdoc

I am an MD considering switching into consulting. I would be VERY interested to hear how it is going for you and what you think of the switch so far.

THanks!

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