Currently in LS consulting specializing in oncology pricing & market access strategy with 3 YOE. I’m eventually hoping to pivot to industry in a few years and hopefully land a sr manager/AD role - however, I don’t currently have an advanced degree and am unsure if I’ll ever be able to get one given certain restraints (e.g., consulting work hrs + HCOL + seemingly low ROI…). Does the lack of an adv degree kill my chances of pivoting into industry?

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I don’t think it kills your chances long term but with 3 YOE and no advanced degree, you are a long ways off from sr manager/AD roles

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Thanks and agree! Learning a lot in consulting rn and not ready to pivot yet but just trying to figure out if I’m basically stuck where I am without dumping $$$ on a Master’s.

Agree with both of the above comments. I don’t have an advanced degree but joined industry as a senior manager. I had 10 years of total job experience, including about 5 years directly in pharma.

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I started as an AD after 4 years as a healthcare attorney, so obviously I have a JD. I’m one of the younger ADs I know.

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I agree on all fronts with SC1. Most listings I've seen require 3+ years for manager, 5+ for SM and 7+ for AD. Then each will say like "7 years with bachelors or 5 with masters or 3 with Ph.D." so it seems like you'd have a good shot at M roles but even SM might be a stretch, it likely depends on the company.

Trapped? Definitely not. I've seen people go from consulting to industry in commercial functions with no advanced degree. I'd guess you need to sell yourself well in interviews and showcase your experience in lieu of a degree. Generally, though, if you make it past the HR screen your experience is probably sufficient for them. Then it's up to you to beat out the other candidates.

None of the advanced degrees will teach you market access, however, having an advanced degree opens doors and helps one when the market is pretty dry. I have also personally found folks who have advanced degrees in healthcare are able to build a strong relationship across stakeholders in industry. It's not just the entry you make in the industry but how you pivot and continue to climb the ranks and more importantly get visibility and the projects that get attention. Many actually fail to understand that it's not short term like consulting and in industry, it's not just your internal but external network that will get you those roles that ultimately will lead to more successful career trajectory. Gradually, it's about if you get visibility enough to be invited to present at conferences on behalf of the organization or be part of invite only industry memberships or more recently, be the voice of your organization for invited podcasts. So, think again, about the ROI part. And also, be careful not to get a masters just for the sake of it because I agree that's wasted money.

Jump to a manager role in industry and work your way up from there. You'll learn more about how they do things in house. Consulting experience won't teach you anything deep.

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