Change career from pharma to consulting

Hi there, 

I can tell you two things: 
 

1. It can definitely be done

2. But it will be a bit of journey, with not a small amount of time investment from your side. 

I know your question was in the spirit of “what are the steps in the journey”, but I think it is important before you get there to truly reflect on how much you want it (and why) vs. how much effort you are willing to dedicate. 

I think truly exploring those questions before you get the step by step guide will actually show a lot of the path you need to take as well. For example, if in your career had to work with a consulting team on a company project and you really loved the project and admired the consultants - that's a hint on where you can start: can you get back in touch with those people for an informal chat? And maybe that can turn into some good advice from them and a referral. 

I don't mean to sound philosophical when you were looking for some practical advice, but I truly believe that the path & the steps need to be personalized to your own motivations and experience. 

Happy to chat more if you think helpful. 

Best, 

Ariadna 

Negin,

I'm happy to help. I've worked with lots of MD, STEM and PhD profiles. 

To begin with, you need to understand that the transition is totally doable and many many have done it already. 

What you need is two things

1. Consulting-like experiences

You need to have some sort of experience on your CV that points to you having a long-term interest in consulting and a consultant-like skills. 

This could mean an internship in consulting or even doing volunteering consultant work for a local organisation. 

2. A great application strategy. 

This is even more important than the former. 

That comprises of 4 pillars

a. The firms you target - how many, which ones, when, what role, etc.

b. Your CV - should be well written - only 2-3% of the ones that I see are actually ready to be sent out

c. Your CL - should tell your story beyond the CV (most fail to do so)

d. Referrals - the secret sauce

You might find these articles I wrote helpful to go deeper into this:

Expert Guide: How To Handle Networking Calls and Get Referrals

Expert Guide: How To Get Referrals Via LinkedIn?

Expert Guide: Build A Winning Application Strategy

Best,
Cristian

Hi Negin,

Q: I applied to a few firms but never got back the interview offer. I appreciate if anyone can help me their path from pharma to consulting.

Your profile could definitely be attractive for firms with a healthcare division. The main ones are the following: 

• MBB
• ZS Associates
• LEK
• IQVIA
• ClearView
• Putnam

If you would like to get an invitation from a top firm, you can work on 3 key things. I have listed them below.

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1) CV

The key elements they will look for and that you can optimize are:

• University brand
• Major
• GPA
• Work experience
• Experience abroad
• Extracurriculars and volunteer experience

Red flags include:

• Low GPA
• Lack of any kind of work experience
• Bad formatting / typos
• 3-4 pages length
• Lack of clear action --> results structure for the bullets of the experiences
• Long paragraphs (3-4 lines) for the bullets of the experiences with irrelevant details
• Long time gaps without any explanation

You can compensate for possible red flags with a referral (see point #3 below).

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2) COVER LETTER

You can structure a cover in 4 parts:

1. Introduction, mentioning the position you are interested in and a specific element you find attractive for that company.
2. Why you are qualified for the job, where you can report 3 skills/stories from your CV, ideally related to leadership, impact, drive and teamwork.
3. Why you are interested in that particular firm, with additional 1-2 specific reasons.
4. Final remarks, mentioning again your interest.

In part 2 you can write about experiences that show skills useful in consulting such as drive, problem-solving, leadership, teamwork and influencing others.

It is important that in part 3 you make your cover specific to a particular firm – the rule of thumb is, can you send the exact same cover to another consulting company if you change the name? If that’s the case, your cover is too generic.

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3) REFERRALS

To find a referral, you should follow three steps:

1. Identify the people who can help you
2. Write to them a customized email
3. Have a call and indirectly ask for a referral

You can find more information on networking and referrals here:

▶ How to Get an MBB Invitation 

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BONUS: INTERVIEW PREPARATION

After you manage to get an invitation, you need to find out how to pass the interview. You can find more on that at the link below.

▶ How to Prepare for an MBB Interview

Good luck!

Francesco

Hi Negin,

First of all, I am sorry to hear about your negative experience with the consulting firms!

I would be happy to share my thoughts on your situation:

• First of all, I would advise you to actively network within the consulting industry to increase your visibility and improve your chances of getting referrals.
• Moreover, consider working with an experienced coach to polish your application files (i.e., both resume and cover letter).

You can find more on this topic here: How to deal with a rejection from a consulting company.

If you would like a more detailed discussion on how to best prepare your application files, please don't hesitate to contact me directly.

Best,

Hagen

Hi Negin,

It sounds like you have a strong background, which can be highly valuable in management consulting, especially in sectors focused on healthcare and life sciences. Here are a few steps you might consider to facilitate your transition into consulting:

1. Network extensively: Connect with professionals who have made similar transitions. Use LinkedIn to find alumni from your university or colleagues from the pharma industry who are now in consulting. Try to arrange informal meetings to learn more about their career transition and current work, and express your interest in consulting. If possible, attend MBBs and Tier 2 firms events to expand your network. 
2. Tailor your resume and cover letter: Emphasize your knowledge in drug development and the pharma industry (consulting firms value domain expertise as it can be crucial for projects related to healthcare, pharmaceuticals, and biotech), but also highlight your expertise in a way that aligns with the skills and experiences consulting firms value, such as problem-solving, analytical skills, and the ability to manage complex projects.
3. Develop consulting-relevant skills: Look for opportunities to gain experience in areas relevant to consulting, such as projects or roles that enhance your analytical, leadership, and problem-solving skills.
4. Apply strategically: Rather than applying to any firm you can find, target your applications to firms that have a strong life sciences or healthcare practice where your background will be seen as a strong asset. Customize your application for each firm based on their specialties and the type of consulting work they do. Consider also other roles besides the general consulting path that could be relevant to your background (e.g., expert consulting track).
5. Prepare for consulting interviews: It's wise to start preparing well in advance to present the best version of yourself to potential employers. Invest time in practicing case interviews to develop strong problem-solving and analytical skills. In the optimal scenario, you receive coaching from a seasoned former interviewer who deeply understands consulting (not just someone with a brief 1-3 year experience), and complement this with a HAND-PICKED set of determined, HIGH-QUALITY practice partners (e.g., other candidates that are applying to the same firms).

Cheers, Sidi

___________________

Dr. Sidi S. Koné

Former Senior Engagement Manager & Interviewer at McKinsey | Former Senior Consultant at BCG | Co-Founder of The MBB Offer Machine™

Hi Negin,

Your background sounds interesting and would definitely fit consulting firms. However, there are other things that are looked at

1. Your professional experience and development over time (reputable company, regular promotions, early leadership experience)
2. Academia (prestige of school, program, GPA, etc)
3. Leadership experience and initiatives (e.g., community involvement)
4. Time spent abroad

My advice would be to start networking and sharing your resume with consultants of target firms before applying to

• get an insight into how well it compares to others and what your chances are
• understand the current demand for new hires

All the best,

Florian

Hi Negin,

I have a similar background in chemical engineering and managed to break into consulting.

Yes to everything the answers said above! The only thing I will add is, once you know you want to pivot into consulting:

Research: Learn about the different types of consulting firms that you can apply for where you live. What are their core competencies? What is their industry focus? 

Having a hunch for what you're curious about next could help you filter towards what you really value! Maybe you take a liking to the expert consulting track present in MBB/ Tier 2 and that might be more suited for you.

If my experience could be helpful to you, feel free to reach out!

Yousef

Hi there,

Feel free to send me your resume. I'll have a look and give you more concrete feedback. I would rather not speculate on potential flaws but instead pin point whatever you are lacking at this point.

I have had a student transition from Pharma to Pharma Consulting. Maybe that is one way to start. Happy to discuss more details.