With the growing healthcare sector, healthcare investment banking internships are becoming increasingly popular among college students. Major banks like JPMorgan, Goldman Sachs, and Morgan Stanley all have dedicated healthcare groups within their investment banking divisions. Landing a top healthcare IB internship requires proper preparation across networking, technical skills, and behavioral interviews. This article provides a complete guide on how students can best position themselves for securing highly coveted healthcare IB internships at bulge bracket and elite boutique banks in 2023 and 2024.
Network extensively with healthcare bankers early on
Networking is crucial for landing investment banking internships, and healthcare IB is no exception. Students should start reaching out to bankers 1-2 years before applying, focusing on junior bankers who recently graduated as they’re more accessible. Attend industry events and conferences to connect with senior bankers. Cold outreach on LinkedIn works too. The key is securing referrals to get your resume prioritized by recruiters.
Excell in accounting, valuation, modeling healthcare deals
Healthcare IB recruiters look for strong technical skills in accounting, valuation, financial modeling and DCF analysis. Master 3-statement modeling for healthcare companies and transactions like M&A, LBO, IPOs. Know how to build integrated models for pharma, medtech, healthcare services firms. Read sector research to understand healthcare sub-verticals. The 400 Investment Banking Interview Questions guide is a must.
Demonstrate interest in healthcare industry trends
Preparation for healthcare IB interviews must include knowledge of sector trends. Follow policy changes, technological disruption, regulatory shifts, and M&A/IPO activities. Be able to discuss implications on different healthcare sub-sectors. Read newsletters from firms like Bain Healthcare, Deloitte Healthcare, and McKinsey Healthcare. This commercial awareness is key for internship interviews.
Craft healthcare-focused stories for behavioral questions
Behavioral and fit portion makes up a significant part of IB intern interviews. Come prepared with stories that highlight why you’re interested in healthcare specifically. Connect past experiences like healthcare-related classes, activities, or family background to your interest. Be ready to answer why you chose healthcare over other groups.
With proper preparation across networking, technicals, commercial awareness and behavioral answers, college students will be well-equipped to land highly coveted healthcare investment banking internships at top firms like JPMorgan Healthcare, Goldman Sachs Healthcare, and Morgan Stanley Healthcare.