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Hi guys,
Backgroung situation:
Was hoping to get some people's thoughts on a decision I'm up for making in the near term. Some background: graduated a couple years ago, got into and deferred medical school for 2 years at a top 20 school, and have been working in New York on Wall Street in investment banking / M&A advisory.
I was very excited about the medical school I got into but also felt that some business experience would be useful in the short-term. That being said, I felt the 2 years I'd give up on the track to become a doctor and live / work / play in the city would not mean much in the long-term. The more I go through my short-term career in New York, the more I have realized that my life is more fullfilling when the focus is put on others. In terms of a service career, the desire to become a physician has gone from seeming to be the right choice to one in which I KNOW is the right choice to fullfill me in the long term.
Complication:
I recently received a private equity offer for the year I am supposed to matriculate for medical school. Private equity is the kind of business that is extremely hard to break into and recruits very early. In terms of skill-sets developed, it is a combination of almost every facet of business - the dealmaking side of banking, investment acumen side of asset management, and the operational improvements side of consulting. The compensation for a 24 yr old is also extremely good; offer is for about $425k a year, all in (base, bonus, phantom equity in the fund). The position is a minimum 2-year committment.
The decision:
Essentially trying to figure out what to do. I highly doubt the medical school will defer my admission for another year or two so that is not an option.
A benefit of going into private equity is obviously the compensation, but aside from that is a really unique learning opportunity; where else are you going to be able to buy, run, and sell companies. I have friends who are de-facto CFO's of highly leveraged companies (enterprise value ~$1B); and, they are around 25! In the short-term, again, I think this would be a great experience (much like my current 2 years in banking). And, I'd save a lot more for medical school / thereafter.
The cons are more complicated: first, I'm delaying the path to becoming a physician, which is absolutely, without a doubt, what I want to be doing with my life. While in the long-term another 2-3 years won't matter, it is adding up in the short-term. It feels like I'm delaying what I really want to be doing for a really neat experience. I think private equity would be an extremely neat experience and could do it / learn a lot in the 2 years, but it's not a sustainable career for me. Finally, I'm giving up a deferral; I'll have to re-take the MCATs (scores will be expired) and re-apply. This last bit is a nuisance, but manageable given that going to medical school is what I want to do and would be worth the effort again.
I know both are great options and appreciate any input. Looking forward to responses / your thought-processes.
Thanks in advance.
PS. I was a frequent user of studentdoctor when going through the application process; happy to talk to anyone re: pursuing a similar path, framing your deferral request, or just life in general. Thanks again!
Backgroung situation:
Was hoping to get some people's thoughts on a decision I'm up for making in the near term. Some background: graduated a couple years ago, got into and deferred medical school for 2 years at a top 20 school, and have been working in New York on Wall Street in investment banking / M&A advisory.
I was very excited about the medical school I got into but also felt that some business experience would be useful in the short-term. That being said, I felt the 2 years I'd give up on the track to become a doctor and live / work / play in the city would not mean much in the long-term. The more I go through my short-term career in New York, the more I have realized that my life is more fullfilling when the focus is put on others. In terms of a service career, the desire to become a physician has gone from seeming to be the right choice to one in which I KNOW is the right choice to fullfill me in the long term.
Complication:
I recently received a private equity offer for the year I am supposed to matriculate for medical school. Private equity is the kind of business that is extremely hard to break into and recruits very early. In terms of skill-sets developed, it is a combination of almost every facet of business - the dealmaking side of banking, investment acumen side of asset management, and the operational improvements side of consulting. The compensation for a 24 yr old is also extremely good; offer is for about $425k a year, all in (base, bonus, phantom equity in the fund). The position is a minimum 2-year committment.
The decision:
Essentially trying to figure out what to do. I highly doubt the medical school will defer my admission for another year or two so that is not an option.
A benefit of going into private equity is obviously the compensation, but aside from that is a really unique learning opportunity; where else are you going to be able to buy, run, and sell companies. I have friends who are de-facto CFO's of highly leveraged companies (enterprise value ~$1B); and, they are around 25! In the short-term, again, I think this would be a great experience (much like my current 2 years in banking). And, I'd save a lot more for medical school / thereafter.
The cons are more complicated: first, I'm delaying the path to becoming a physician, which is absolutely, without a doubt, what I want to be doing with my life. While in the long-term another 2-3 years won't matter, it is adding up in the short-term. It feels like I'm delaying what I really want to be doing for a really neat experience. I think private equity would be an extremely neat experience and could do it / learn a lot in the 2 years, but it's not a sustainable career for me. Finally, I'm giving up a deferral; I'll have to re-take the MCATs (scores will be expired) and re-apply. This last bit is a nuisance, but manageable given that going to medical school is what I want to do and would be worth the effort again.
I know both are great options and appreciate any input. Looking forward to responses / your thought-processes.
Thanks in advance.
PS. I was a frequent user of studentdoctor when going through the application process; happy to talk to anyone re: pursuing a similar path, framing your deferral request, or just life in general. Thanks again!