1. LS consulting is interesting because it covers an industry that is rich, with high margins, with many interesting projects, and tons of M&A activity. Projects sometimes are not the usual ones you have in “core” consulting, because you also have projects on regulations, trials, R&D, etc.

2. MBB firms have better branding, give you a much better outlook, and teach you a certain way of working that usually, LS consultancies are not able to give. 

3. Move from LS consulting to MBB is definitely possible. Besides, I would not even exclude that MBB acquire some of the LS consultancies. 

Hi there,

1. How interesting is the Life science industry (in terms of future potential, type of project, project complexity, etc) compared to other industries such as TMT, PE, Financial Services, etc?   

It's the best thing ever!

It's the worst thing ever!

^The range of possibilities

Your job is to figure this out for yourself. Do you find healthcare topics interesting?

Get reading (healthcare topics on these company websites).

Get networking (with people in the industry to ask them about projects and day-to-day)

I find every single industry you listed interesting…we can't tell you what you should like!

2. How different are they compared to MBB or tier 2 firms in terms of methodology, competencies, training, learning curve, etc?

You can't just group them all up! Every firm is different (again, here's the value in networking).

Each one will have different methodlogyies, compentencies, cultures, etc. Of course, MBB can't be beat on most fronts, but once you get to Tier 2 it really is dependent on firm, office, and, importantly how YOU learn & develop best (what type of environment)

3. If I were to join a firm that specializes in life science, is it still possible to join as a generalist at MBB or tier 2 in the future?

Yes!

Life science consulting does not always overlap with generalist consulting as you put it. For example, life science consulting is focused on clinical trials and regulatory processes for drugs. The real overlap comes from due diligence and sometimes strategy work done at life sciences consulting.

Differences in training and culture really differ between the companies you listed so it is hard to say how they differ as a group from MBB.

I have not heard of many people moving from life sciences to MBB, but this may be that those people enjoy life science work and don't want to be a generalist.