Working in Finance Sector

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Hello,

I searched and I found a similar thread to this but that was about 3 yrs ago. I am a sophomore at a private school in the Midwest. I am also a Finance major and I am taking all my pre-med courses. I was wondering if I should work after I graduate from my school. I know I could get a job paying 40-45k (roughly). I am already 20yrs old and I think that I would be a old man by the time I graduate from med school. The benefit of working is that I would be able to spin the fact that with real world experience, I know how to work in a group, be a leader....

Another option is going from undergrad to directly to med school. This might mean going to a slightly less prestigious Medical school. I want to be a internist anyways so, I guess it shouldn't matter too much.

Option C is that I could do my MBA at a noncompetitive university and then apply to med school.

You might think that I am think too far ahead, but I am one of those people who likes to be prepared for things to come. I also have all 4 years planned out for undergrad and all the classes that I am going to be taking.

Originally Posted by mbusa

Hello,

I searched and I found a similar thread to this but that was about 3 yrs ago. I am a sophomore at a private school in the Midwest. I am also a Finance major and I am taking all my pre-med courses. I was wondering if I should work after I graduate from my school. I know I could get a job paying 40-45k (roughly). I am already 20yrs old and I think that I would be a old man by the time I graduate from med school. The benefit of working is that I would be able to spin the fact that with real world experience, I know how to work in a group, be a leader....

Another option is going from undergrad to directly to med school. This might mean going to a slightly less prestigious Medical school. I want to be a internist anyways so, I guess it shouldn't matter too much.

Option C is that I could do my MBA at a noncompetitive university and then apply to med school.

You might think that I am think too far ahead, but I am one of those people who likes to be prepared for things to come. I also have all 4 years planned out for undergrad and all the classes that I am going to be taking.

It sounds to me like you need to think over whether medicine's right for you. If you think you'd be happy in finance, go for it. Medicine's a long, hard road. Personally, I'm a fan of taking time off after college to gain real world experience prior to starting med school, but it's a decision you have to make for yourself. I don't think going after an MBA is a wise move financially and I think if you're overly aggressive pursuing finance, it could cause adcoms to question your interest in medicine. Like I said, think over what would make you happiest for the next 30+ years. Don't feel you need to make a decision by tomorrow, but when you do make it, commit to that career path. Good luck.

Originally Posted by mbusa

I know I could get a job paying 40-45k (roughly). I am already 20yrs old and I think that I would be a old man by the time I graduate from med school. The benefit of working is that I would be able to spin the fact that with real world experience, I know how to work in a group, be a leader...

Option C is that I could do my MBA at a noncompetitive university and then apply to med school.

Noncompetitive MBAs are a waste of time and money.

Top tier MBAs are also a waste of time and money but that's a secret we all keep close to our vest and don't tell the suits or the firms offering tuition reimbursement

signed,
someone with a MBA

anyway... if you're wanting to go med, don't screw around in bschool thinking it will eventually help you go into med. All it will do is suck up time and life force that you could be using to pursue medicine, while saddling you with unnecessary debt. Had I not had JT Marlin pay for my mba, I'd never have been able to career change out of finance and into medicine in the first place.

If you ABSOLUTELY have to do finance first, go to an entry level gig at a top consulting firm and work there for a few years, lotsa transferable skillz and also very fun jobs for new college grads, heavy travel, with some hard work and glamor.

It's nice to dabble in other fields (sometimes beneficial in a med school application, as it shows that you've tried other things and are sure of your medical path), but an MBA is going over the top. It's either one or the other.

If you're interested in business, you're interested in business. Make sure you find out which field you have a passion for. Medical school can be one of the worst experiences to ever exist in this world to those who don't have a clear passion for medicine.

Originally Posted by mbusa

Hello,

I searched and I found a similar thread to this but that was about 3 yrs ago. I am a sophomore at a private school in the Midwest. I am also a Finance major and I am taking all my pre-med courses. I was wondering if I should work after I graduate from my school. I know I could get a job paying 40-45k (roughly). I am already 20yrs old and I think that I would be a old man by the time I graduate from med school. The benefit of working is that I would be able to spin the fact that with real world experience, I know how to work in a group, be a leader....

Another option is going from undergrad to directly to med school. This might mean going to a slightly less prestigious Medical school. I want to be a internist anyways so, I guess it shouldn't matter too much.

Option C is that I could do my MBA at a noncompetitive university and then apply to med school.

You might think that I am think too far ahead, but I am one of those people who likes to be prepared for things to come. I also have all 4 years planned out for undergrad and all the classes that I am going to be taking.

What would be the point of option C? Why get an MBA and then immediately go into med school? Science masters degrees don't add that much to your application (other than the research experience) so I doubt an MBA will be much of a boost, certainly not enough to justify the tuition + 1-2 year delay in matriculating to med school.

You need to ask whether you are ready to enter med school right after graduating, or you want a break to work in the real world. This is entirely up to you. Either choice probably won't have a huge impact on your application one way or another, but who is to say exactly what will happen regarding competitiveness of med schools in the next couple years? If you have great numbers you probably don't have to worry either way, but if your stats are marginal, you might adjust your plans based on that.

Originally Posted by EBTrailRunner

It sounds to me like you need to think over whether medicine's right for you. If you think you'd be happy in finance, go for it. Medicine's a long, hard road. Personally, I'm a fan of taking time off after college to gain real world experience prior to starting med school, but it's a decision you have to make for yourself. I don't think going after an MBA is a wise move financially and I think if you're overly aggressive pursuing finance, it could cause adcoms to question your interest in medicine. Like I said, think over what would make you happiest for the next 30+ years. Don't feel you need to make a decision by tomorrow, but when you do make it, commit to that career path. Good luck.

Originally Posted by BeanDip4All

Noncompetitive MBAs are a waste of time and money.

Top tier MBAs are also a waste of time and money but that's a secret we all keep close to our vest and don't tell the suits or the firms offering tuition reimbursement

signed,
someone with a MBA

anyway... if you're wanting to go med, don't screw around in bschool thinking it will eventually help you go into med. All it will do is suck up time and life force that you could be using to pursue medicine, while saddling you with unnecessary debt. Had I not had JT Marlin pay for my mba, I'd never have been able to career change out of finance and into medicine in the first place.

If you ABSOLUTELY have to do finance first, go to an entry level gig at a top consulting firm and work there for a few years, lotsa transferable skillz and also very fun jobs for new college grads, heavy travel, with some hard work and glamor.

Originally Posted by Aerus

It's nice to dabble in other fields (sometimes beneficial in a med school application, as it shows that you've tried other things and are sure of your medical path), but an MBA is going over the top. It's either one or the other.

If you're interested in business, you're interested in business. Make sure you find out which field you have a passion for. Medical school can be one of the worst experiences to ever exist in this world to those who don't have a clear passion for medicine.

Originally Posted by theseeker4

What would be the point of option C? Why get an MBA and then immediately go into med school? Science masters degrees don't add that much to your application (other than the research experience) so I doubt an MBA will be much of a boost, certainly not enough to justify the tuition + 1-2 year delay in matriculating to med school.

You need to ask whether you are ready to enter med school right after graduating, or you want a break to work in the real world. This is entirely up to you. Either choice probably won't have a huge impact on your application one way or another, but who is to say exactly what will happen regarding competitiveness of med schools in the next couple years? If you have great numbers you probably don't have to worry either way, but if your stats are marginal, you might adjust your plans based on that.

Everyone had some great suggestions. I think I worded the question a little wrong. I have strong personal beliefs and experiences that have me wanting to go to Med school. I like Finance and that is why I chose it as my major. I really could care less If I worked in the Business sector or not. I was wondering what do people generally do.

I know nothing is set in stone, so If I graduate with sub-par scores, Do I go to a MD school and that is it. Or is it better to spend sometime in the outside world and maybe get a heads up with adcoms?

Originally Posted by mbusa

Another option is going from undergrad to directly to med school. This might mean going to a slightly less prestigious Medical school. I want to be a internist anyways so, I guess it shouldn't matter too much.

You don't seem to know much about med school admissions making a statement like this...get more up to speed on the process, and on the schools, next time.

Hint: the difference in "prestige" level of the med schools you might be accepted at whether you apply directly out of undergrad or work in finance for a few years is negligible. Worrying about med school prestige, for you or for any applicant, is a silly ego exercise anyway, although it is rampant on SDN.

Like others have said, I question your desire to attend medical school. Trust me, adcoms will have the same doubt about you and your application. This process is incredibly competitive, and what you are describing is a less than committed effort. If you were truly dedicated to it, you would be hustling to get all your ducks in a row for a successful app straight out of undergrad...just sayin'

Most go straight from undergrad. If you don't show leadership skills while in undergrad, you are behind. Good applicants show med schools all major qualities while in undergrad. Working and advanced degrees are a waste of time and money IMO.

Originally Posted by mbusa

Everyone had some great suggestions. I think I worded the question a little wrong. I have strong personal beliefs and experiences that have me wanting to go to Med school. I like Finance and that is why I chose it as my major. I really could care less If I worked in the Business sector or not. I was wondering what do people generally do.

I know nothing is set in stone, so If I graduate with sub-par scores, Do I go to a MD school and that is it. Or is it better to spend sometime in the outside world and maybe get a heads up with adcoms?

If you have no strong desire to work for a while, whether in general or in a specific field, I wouldn't take a break with the idea that that alone will help your application. If you are graduating with sub-par scores, I would only take a break from school if you want/need a break from school, meaning you don't have the motivation to boost your application if you went straight into more academic work. If you simply need an application boost, there are post-bachelor programs, SMP's, research opportunities, etc, etc. that will do much more for your application than working in the financial sector for a few years would do for you. All of these would be higher-yield than simply working in an area unrelated to medicine.

Do you need such a boost, or are your scores sufficient for admission without needing to do more academic work?

I did a postbac program, so I definitely know my fair share of bankers turned doctors. And, in many cases being a "non-traditional" applicant is a good thing...as you mentioned, life experience, etc. However, the thing you need to be aware of is that with finance majors and bankers, its tough to prove that you are 100% committed to medicine. I mean, finance is really a field and a major dedicated to making as much money as possible and screwing over the little people (or at least those are people's impressions). The ideologies are completely different from medicine. I just want you to know that it is possible to make the switch from finance to medicine but its not as simple as you make it out to be and schools wont be knocking at your door begging to accept you. You'd have a much easier time working as a teacher (which is why med school loves TFA) or at a non-profit and switching to medicine than working in finance. Also the finance people I know who made it to med school (great schools) worked at TOP tier firms for substantial amounts of time and made 6 digits.

You might be able to spin it to adcoms if they doubt your commitment and say you're interested in being a CMO, opening a private practice, etc.

Originally Posted by RedSox10

I did a postbac program, so I definitely know my fair share of bankers turned doctors. And, in many cases being a "non-traditional" applicant is a good thing...as you mentioned, life experience, etc. However, the thing you need to be aware of is that with finance majors and bankers, its tough to prove that you are 100% committed to medicine. I mean, finance is really a field and a major dedicated to making as much money as possible and screwing over the little people (or at least those are people's impressions). The ideologies are completely different from medicine. I just want you to know that it is possible to make the switch from finance to medicine but its not as simple as you make it out to be and schools wont be knocking at your door begging to accept you. You'd have a much easier time working as a teacher (which is why med school loves TFA) or at a non-profit and switching to medicine than working in finance. Also the finance people I know who made it to med school (great schools) worked at TOP tier firms for substantial amounts of time and made 6 digits.

Originally Posted by Praefectus

You might be able to spin it to adcoms if they doubt your commitment and say you're interested in being a CMO, opening a private practice, etc.

Thanks guys, I really appreciated your advice! I think that even though you might have some leverage on adcoms about the experience thing, you have to work harder to convince them about your commitment. As we saw here, many people easily doubt your commitment to medicine

Originally Posted by theseeker4

If you have no strong desire to work for a while, whether in general or in a specific field, I wouldn't take a break with the idea that that alone will help your application. If you are graduating with sub-par scores, I would only take a break from school if you want/need a break from school, meaning you don't have the motivation to boost your application if you went straight into more academic work. If you simply need an application boost, there are post-bachelor programs, SMP's, research opportunities, etc, etc. that will do much more for your application than working in the financial sector for a few years would do for you. All of these would be higher-yield than simply working in an area unrelated to medicine.

Do you need such a boost, or are your scores sufficient for admission without needing to do more academic work?

I dont have the strongest desire to work. I was just wondering if it would be beneficial to me when applying and possibly get me into a better medical school. I rather go directly to medical school ASAP. I really don't think I will be needing a boost, though in the event of disaster or something, What would be my best backup plan. I deduce from SDN, that either DO, Post-bac, or SMP's.