Exit strategy - more consulting questions

[zhacksack019]

I know there's a ton of these threads on here discussing consulting as an exit strategy, but I have some specific questions that haven't really been answered. I have about 5 years of real engineering experiences before I decided to apply to med school and am currently a 3rd year. I'll be 31 by the time I finish med school and I just feel like there's so much to life I still haven't experienced yet. I'm single, good with numbers, and actually love the road warrior life (done it for a couple of weeks as an engineer), so I'm really looking into consulting right now. Would you guys be able to answer these questions? I haven't really found these answers anywhere. I really appreciate it!

1. If I go into consulting straight after finishing residency, how hard would it be to go back to clinical medicine after a couple of years in consulting? I really want to go into consulting, but it's a bit soulless. Medicine, although is in a serious state of decline, is still so much more rewarding than hotels and spreadsheets.

2. If I go into consulting after 5 years of experience as an attending, would I still be at the same level as a new MBA grad? I understand if you go into consulting right after med school without residency, you might be at the same level as a new MBA grad, but what about those who finish residency and for those with with a couple years of real work experience?

3. I went to my state school for undergrad and currently go to a low-ranked med school (top 100). I know consulting usually picks from the top MBA schools. How hard would it be for me to get into Mckinsey with these stats?

4. Most people leave consulting within 2 to 5 years due to burnout, travel, etc. Are there a lot of great exit opportunities for MDs without MBAs after they leave?

5. How important are looks and social skills in consulting? I'm pretty ugly and like to think of myself as having average social skills. I can make small talk, not too awkward, but I'm just quiet in large groups

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[Glashutte32]

Cannot comment on #1

Re: #2
At the firm at which I spent my time between college and school, anyone who did not have significant business/consulting/finance experience or an MBA came in at the 'experienced analyst' level. You'd be paid more than a 22 year old and you'd get promoted faster (since you don't have to learn how to adult) but associates are the ones directing most of the day-t0-day workflow and your background doesn't suggest you'd come in with that knowledge

#3
It will most likely be harder to get a shot at MBB since your school might not have the resources/connections to get you to meet the right people to get the interviews etc. Network, network, network. You probably have accumulated friends/acquaintances who work in consulting and could make introductions.

That said, you don't have to work at MBB to do interesting work with excellent people. People with more experience can direct their careers more at larger generalist firms (instead of working across industries) but your best bet for doing interesting healthcare work 100% might be a boutique (what I did)

#4
Do you mean post consulting or post medicine?

#5
It doesn't not matter. Consulting, ostensibly like medicine, requires working in small teams and people remember if you're not fun to be around. Our firm probably sponsored at least a dozen social events a year and this was a big way in which people developed rapport between project teams. You don't have to be prom king but you need to be able to make yourself client presentable to the point where it'd never be questioned.

Re: road warrior: It's good for a while but it's not as fun or as pretty as it looks. Can't argue w/ the perks though

 

[zhacksack019]

Cannot comment on #1

Re: #2
At the firm at which I spent my time between college and school, anyone who did not have significant business/consulting/finance experience or an MBA came in at the 'experienced analyst' level. You'd be paid more than a 22 year old and you'd get promoted faster (since you don't have to learn how to adult) but associates are the ones directing most of the day-t0-day workflow and your background doesn't suggest you'd come in with that knowledge

#3
It will most likely be harder to get a shot at MBB since your school might not have the resources/connections to get you to meet the right people to get the interviews etc. Network, network, network. You probably have accumulated friends/acquaintances who work in consulting and could make introductions.

That said, you don't have to work at MBB to do interesting work with excellent people. People with more experience can direct their careers more at larger generalist firms (instead of working across industries) but your best bet for doing interesting healthcare work 100% might be a boutique (what I did)

#4
Do you mean post consulting or post medicine?

#5
It doesn't not matter. Consulting, ostensibly like medicine, requires working in small teams and people remember if you're not fun to be around. Our firm probably sponsored at least a dozen social events a year and this was a big way in which people developed rapport between project teams. You don't have to be prom king but you need to be able to make yourself client presentable to the point where it'd never be questioned.

Re: road warrior: It's good for a while but it's not as fun or as pretty as it looks. Can't argue w/ the perks though

Thanks for answering!

As for #4, I meant post consulting

 

[Glashutte32]

I can't comment on the field too broadly for #4 but the last physician who left our practice left for a senior level position at a major insurer (but he had an MBA). Generally, a lot of the mid level people left to our clients or other firms w/in the life science space.

 

[repititionition]

Former management consultant, current med student.

You'll forgive the brevity, but your questions and where you're asking them strongly suggest that you wouldn't do well in consulting. Just trying to save you a lot of heartache.

 

[zhacksack019]

Former management consultant, current med student.

You'll forgive the brevity, but your questions and where you're asking them strongly suggest that you wouldn't do well in consulting. Just trying to save you a lot of heartache.

Would you be able to clarify?

 

[420 blaze it]

basically u sound like a dork and thats a no-go for this line of work

 

[idkididk]

No offense, but I'm curious: what made you decide to go into medicine in the first place?

 

[zhacksack019]

basically u sound like a dork and thats a no-go for this line of work

How do you come to that conclusion?

No offense, but I'm curious: what made you decide to go into medicine in the first place?

I wanted a career that was more rewarding than just sitting at a desk all day but I'm now unsure of my decision to go into medicine based on how burned out I am

 

[repititionition]

Would you be able to clarify?

a successful future consultant would have

- done the incredibly modest amount of web research that it would have taken to find answers to some of your questions
- creatively found a way to ask a practicing physician/consultant the remaining questions rather than asking idiots and strangers (SDN)

 

[zhacksack019]

a successful future consultant would have

- done the incredibly modest amount of web research that it would have taken to find answers to some of your questions
- creatively found a way to ask a practicing physician/consultant the remaining questions rather than asking idiots and strangers (SDN)

Like I said, I've already done the research. There's lots of forums out there on general consulting but not many specific to consulting for MDs except on SDN but those responses didn't really address my questions. A successful reader would have picked up on that.

And I don't know any previous physicians who are now consultants because...maybe, just maybe, they're in consulting and we're in medicine and as a 3rd year I don't interact with consultants from MBB maybe? Asking SDN is a better option because it opens up my question to the general public and not just those in my social circle