My write up of the event

By: Elizabeth Kaplunov

This morning I woke up before 8a.m. I have no woken up that early in 4 years! Why is that, do you ask? That is because for the last 4 years I was studying for a PhD. The only thing that could convince me to get up before 10a.m. is an employment-based event. So this is why I find myself at a whole day event called “PhD to consulting” in Imperial College London along with over 280 others whose PhD journey is going to end sooner rather than later.
 
This successful event has been running since 2012, and is an opportunity for PhDs to network with researchers from different universities, as well as consultant company staff. The format is lecture based, with 15 speakers from companies of different types and sizes. The speakers are from the following consulting companies: Eradigm, GE Healthcare Partners, Newton, Navigant, McKinsey & Company, Prescient, Cambridge Healthcare Research, IBM, IQVIA, Oxentia, BTS, EY, L.E.K. and Boston Consulting Group. Some of these established companies need no introduction, whereas others are lesser known but excellent nonetheless. Below, I have written about the talks which inspired me the most.
 

• Eradigm

Patrick is the co-founder and partner at Eradigm, a biopharma consultancy. He states that consultants bring order and insight across diverse organisations as well as highlighting that the key goal of a consultant is to cultivate trust (which is made up of credibility, reliability and intimacy but is undermined by the consultant having too large of an ego).
Patrick’s 5 tips for a PhD researcher who wants to transfer into consultancy:

1. Communicate succinctly
2. Sever emotional ties to research
3. Pay attention to how knowledge is communicated (not just to the fact that you possess the knowledge)
4. Lower your standards, good enough is fine
5. Develop your commercial lens

 

• GE Healthcare Partners

Laura works at GE Healthcare Partners and has attended 2 of these events in her own time as a PhD! GE Healthcare Partners are a part of the global GE company.  Their key clients are NHS, clinical commissions and governmental departments. The UK team consists of 15 consultants. The reason Laura wanted to work in consultancy is because she wanted to live the London lifestyle, and also due to the isolation during her PhD studies. Lauren also notes that consultancy is a highly competitive field, and although PhD skills are transferable, she warns new applicants not to get discouraged by rejections. Laura’s typical day includes: winning work, planning projects and delivering them, personal development, training and admin.
 

• Newton

The speakers from Newton are called Ziedo and James. Newtoni is different from other consultancies as it is focused on implementation. This company was started in 2001 and has grown to 300 staff in 2019. The typical consultant to partner journey takes around 9 years for undergrads, with PhDs being likely to be promoted quicker. Ziedo is a PhD researcher turned consultant 6 months ago. This fresh consultant is full of praise for the 4 week induction which included doing real work which is shared with the team, as well as the company promoting an excellent work-life balance.
 

• Navigant

Nina works at Navigant, which is a large healthcare consulting company working within highly regulated systems (as there are many industry rules to follow). Nina has been a Director for 8 years and she completed her PhD at Cambridge University. Her advice for us is to talk to people who actually do the role we’re interested in and to explore our networks (e.g. friends, friends of friends and ex colleagues). Some of the options offered by Navigant to PhDs include independent contracting work opportunities while writing up, a 3 month Associate Programme (immersion and training) which can lead to a Senior Consultant grade (full-time role).
 

• Cambridge Healthcare Research

This consultancy was founded in 2014, and now there are over 50 people working there. Most of the clients are the top 20 pharma and biotech companies in the world.  Some of the tasks that are conducted at the company include: competitive project monitoring, deep dive and conference coverage. On 28th October 2019, the company is having a meet the team event at their office.
 

• Blue Matter

The speaker is Magda who works as a senior consultant at this life science consultancy. The reasons Magda wanted to work in consulting are: variety of projects, intellectually stimulating work, opportunities to travel, teamwork and professional development. Tips for PhDs to prepare for the career transition towards consulting: research the company and team, take initiative by joining a consulting club or doing an internship, prepare for the interview (and prep case studies), showcase your skills by using teh STAR approach and tailoring your CV to the job/company. In this consultancy, 70% of staff have PhDs, MDs and MBAs. This company is special as it has a family feel, a collaborative culture, works with cutting edge technology and has a flat structure.