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2nd year MD student here. As most of this thread is probably aware, Einstein receives a generous amount of NHI funding. You guys might also be aware that the NIH budget for basic research is drying up, and that a greater degree of importance is being placed on translational research "bench to bedside."
Here's a bit of history that you all might like to know and which might illustrate the current landscape at Einstein's with respect to research: Einstein was founded in the 1950's (one of the only new medical schools in the 20th century) as a place where minorities and members of groups that were traditionally discriminated against could get a medical education. The 1950's was also a very politically active time - and the McCarthy era resulted in many top notch, progressive professors being fired from elite institutions. As a progressive place, Einstein recruited these professors and established an all-star founding faculty including Harry Eagle (of Eagle's media), Harry Barnett (renowned pediatric nephrologist), Leo Davidoff (one of Harvey Cushing's last residents and the only Jewish one), Susan Horowitz (cancer researcher, discovered MOA of Taxol).. etc. These people created an environment that attracted even more bright individuals. The productive environment caught the attention of the federal gov't and led to huge funds for basic science research. Examples - the Kennedy Center (pediatric neurology research) the Liver Research center, etc. etc. The fields in which Einstein had the most productive and pioneering faculty tend to be the areas that still receive the biggest allocation of research dollars (immunology, infectious disease, cancer, neurology, cardiology, liver, endocrine, and a bunch of others) As a result of this funding and collaborative environment, its not rare for students to hear ("oh, and this was discovered upstairs by so and so... so as an Einstein student you should be proud that..."). Some examples include the basic science that ultimately led to the ability to produce monoclonal antibodies (Matty Scharff) and current trials that are looking at targeting Tau (not APP) for Alzheimers Disease (Peter Davies), etc.
Research faculty at Einstein still do a ton of basic science work - and some medical students do get involved in that. However, with the declining budget for this, Einstein researchers have teamed up with clinicians at affiliated major academic hospitals (Montefiore, Jacobi, NCBH) for translational research. How would this affect you? (1) You would have the opportunity to be involved in the translation of cutting edge research in the clinic (2) you would have the opportunity to work with researchers and clinicians that are leaders in this field (a major plus both in terms of mentorship + their ability to go to bat for you when it comes time to make calls for the residency program that you want). (3) You get to be exposed to amazing things that are on the cutting edge (probably the most important - since being excited about what you are doing will take you further than anything else).
Ok! So that's my rant and its back to work for me. Please feel free to PM me if you have any questions about Einstein. Its a great place!