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Careers for physicians in the financial sector

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Physicians with great financial management skills, an eye for the next great investment, and an interest in consulting may enjoy one of the many ways they can provide financial consulting. There are a number of options for doctors in finance that can prove to be a great move for those looking to make a career shift or supplement their income.

Physicians can work for venture capital companies, encouraging them to invest equity, or become shareholders in young start-up companies in the healthcare space. Independent financial consulting can also be a lucrative career for physicians who have solid skills in financial management. They will generally have a willing class of clients in their physician peers, who will be more than happy to take financial investing or management advice.


Venture Capital/Private Equity Investment

Independent Financial Consulting

Example Duties

▪ Research new healthcare start-up companies

▪ Analyze potential risks and benefits of investing in a particular company

▪ Convince venture capital companies to invest in your private company


▪ Advising clients regarding their finances and investment opportunities

▪ Debt management practices


Example Employers

▪ Private healthcare start-up companies

▪ Venture capital companies

▪ Self-employed

▪ Financial consulting firm

Job Responsibilities

Job responsibilities in financial consulting can vary greatly depending on the specific area of focus such as venture capital work, private equity healthcare startups, or independent financial consulting.

Various job responsibilities may include:

  • Researching new healthcare start-up companies including software, medical device, and biotech companies
  • Analyzing potential risks and benefits of investing in a particular company
  • Advising clients, such as other physicians, regarding their finances and investment opportunities
  • Convincing venture capital companies to invest in a private company
  • Debt management practices

Work Environment and Schedule

Physicians working in financial consulting can choose the type of environment that they wish to work in. They can be employed by a venture capital firm full-time, work for a private equity company in a venture capital consulting capacity, or work as an independent financial consultant. Those who start their own financial consulting firms have the ability to create their own schedule and work environment. Physicians beginning work as financial consultants and starting their own firms can work long hours. It sometimes takes several years to build enough clientele for a steady and comfortable income.

The environment of venture capitalism can be a cutthroat, particularly if you’re try to make it to the top. Extensive travel and long hours may be required at times to investigate potential investment opportunities. But for some, the payoff for finding even just one or two great investments may be worth longer hours. It is a competitive field, but for physicians who have a keen awareness of what the next big advance in healthcare may be, they could do very well in this field.

Required Skills and Training

Although there are not specific requirements in terms of physician hiring practices in financial consulting, there are some trends. It is generally harder to obtain a position directly in a venture capital firm than in a private company working to prospect venture capitalist investment. Those that obtain positions in venture capital firms generally have an MBA and/or consulting, business, or venture capital experience on the company side. For roles such as independent financial planning, generally it is advised to obtain a certificate, such as a certified financial planner, and demonstrate strong communication, management, and financial planning skills.

Required skills include:

  • Previous work in a consultant capacity or a knack for finances and statistics
  • Willingness to take risks on new companies or uncertain investments
  • Excellent communication skills and analytical mind
  • Certified financial planner and strong management and financial planning skills for independent financial planning

Residency, Licensure, and Training Requirements

Board certification and licensure are not necessarily required. Those who possess an MBA or business experience may be particularly desirable to venture capital firms.

Is This a Career for You?

Working in venture capital or financial consulting may provide a great deal of flexibility and income for physicians. For those who are willing to take risks and provide recommendations to venture companies, it could pay off big, to the tune of millions of dollars and career success. Venture capital work or independent financial consulting is generally best for those with an entrepreneurial mindset and an eye for innovation and investments.

Those that are not risk takers or patient in the time that it may take to build a career may not be well suited for financial consulting or venture capitalism. Consultants in this field must be resilient, confident in their decisions, and able to communicate their financial reasoning soundly.

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