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Industry Chat: HealthcareAugust 2018Manisha Jain, Senior Associate DirectorRachel Brown, Relationship ManagerMBA Career Management

Job Search CompetenciesOn-the-JobSuccessSelf-Assessment andClarifying aster theCompetenciesto Master YourJob SearchIndustryand CompanyResearchBuilding aTarget ListNetworkingCover Letter Writingand Email OutreachResumeWritingPersonal Brandand Pitch2MBA Career management

Job Search CompetenciesMaster the Competencies to Master Your Job SearchIndustry andCompany ResearchConduct research to understand trends,skills needed to succeed, and careerpaths in your industry of interest. Collectcompany intelligence to prepare fornetworking and interviews.Self-Assessment and Clarifying Goals Process Management Industry and Company Research Building a Target List Resume WritingPersonal Brand and Pitch Cover Letter Writing and Email Outreach Networking Interviewing Offer Management On-the-Job SuccessMBA Career management

Agenda Healthcare Industry Introductory Overview Trends Functions, Roles and Internships The Job Search Recruiting and Summer Outreach Recruiting Strategy and Timeline Hiring Data Offers, Compensation and Sponsorship Healthcare at Wharton: 2Y students Q&A4

MBA Career Management Healthcare TeamMANISHA JAINSENIOR ASSOCIATEDIRECTORRACHEL BROWNRELATIONSHIP MANAGERCareer AdviceCorporate Relationships Self-assessment & decisionmaking Strategize best recruitingapproach for variety of employers Networking Industry InsightCo-manage employerrelationships with Career Advisor Resumes, Cover Letter &Interview Prep Manage recruiting eventsCorporate Relationships Develop employer outreachstrategy with RMStudent Support Assist students with logistics ofon-campus interview process, jobboard postings, etc.Programming Develop programs for studentsinterested in healthcareCollaborate with professional clubs and research centers, including Healthcare,General Management, and Marketing Club.5

Industry Overview

Industry urers/PayersPrivateEquity/VentureCapital7

Health Care SubsectorsBig PharmaBiotechnologyMedicalDevices8

Health Care Subsectors (con’t)ServicesProviders /PayersTech9

Recent Trends in Healthcare Emphasis on value and outcomes, compared with the outdated focus onvolume Digital Health-Patient-Centered CareTransparency: Cost and ServicesTelehealthIncreased Data Demands and Data SecurityWearable Tracking Devices Accelerated consolidation and collaboration Fast-paced transformation of health insurance into a true retail industry Rise of local, affordable clinics Personalization: care delivery, medicine10

Functions in HealthcareMarketing Opportunities at global, regional and country levels Drive product development, strategy and implementation; frequentinteraction with external stakeholders and sales force, as well as R&D,finance & manufacturingFinance Assignments may be focused in any number of areas, including businessdevelopment, treasury, strategic planning, corporate finance, business unitoperations, or geographic salesBusinessDevelopment/CorporateDevelopment Valuate and negotiate deals with third parties to broaden portfolio; mayinclude mergers and acquisitions, licensing agreements, joint ventures,equity investments, and research collaborations. Establish and manage strategic relationships with other companies Small teams; can branch out into marketing or finance roles Strategy Solve business line / division challenges (e.g. business strategies,market entry, customer segmentation, etc.)Collaborate with a team to conduct interviews/research, analyze,synthesize and present resultsSmall teams; can branch out into marketing or finance roles11

Functions in HealthcareOperations Analyze company’s internal processesOverseeing production of goods and/or provision of servicesQuality control, performance improvement and operations startegy12

Sample Healthcare InternshipsPFIZER(Marketing) Organized and launched national series of educational programs prior to high-profilelabel update; developed program content and format at risk, a first for the divisionGENZYME(ProductMarketing) Prepared for the pediatric launch of a first in class biologic. Identified the key HCPsegments and provided deep dive on role of the Pediatrician in this disease area.Conducted expert interviews with specialist HCPs, attended multiple disease specificconferences, and created and implemented Pediatrician survey.NEVRO(StrategicMarketing) Developed the commercial and market development strategy for a new indication oftheir spinal cord stimulation device (Painful Diabetic Neuropathy). Developed cross-functional work-plans; implemented initiatives that would increasethe likelihood of commercial success - some longer term and strategic, some shorterterm and tactical.SANOFI(BusinessIntelligence) Identified attractive M&A and licensing opportunities for newly-entered therapeuticarea; Developed strategic rationale and analytics for selection of targets; Performedfinancial valuation for M&AATHENAHEALTH(BD) Developed acquisition integration strategy for acquired cloud-based electronicmedical record provider by performing organizational sales and accountmanagement process cross-walks, staffing assessments, and best practicereconciliations

Sample Healthcare InternshipsMEDTRONIC(CorporateDevelopment) Negotiated XXM supply agreement for a JVDeveloped acquisition-based strategy for Medtronic’s entry into renalcare services business in emerging markets Built value model to guide buyers by partnering with clinical, technical,health economics teams to align product fit with different paymentmodels; leadership deployed tool to support evidence strategy, trainglobal sales teams Analyzing and providing a recommended strategy for Teladoc comparedwith the electronic health record vendors, the second involved abusiness case and initial product definition for a telehealth physicaltherapy project Worked on how dialysis patients are educated in the hospital on facilitychoice, working on dialysis, and insurance options. Teed up twoopportunities for DaVita to fill gaps in patient education in the hospitalgoing CARE(CorporateStrategy)14

Functional Breakdown of Accepted Healthcare Offers*Preliminary data as of duct/BrandMarketing23%* Class of 2019 onsulting/Strategy20%

The Job Search

MBACM & Recruiting eveloping employer relationshipsInconsistent demand year-to-yearJust-in-time hiringLess clear on MBA recruiting value propFRPEIS30 minutediscussionswithcompanyrep eriod:Begins1/10/1917

Two Strategies Two SkillsetsMATURE – Be ready for when an opportunity is available. Structure and process“Formal” EventsStand out from the crowd On-Campus interviewsHeavy fall/winter recruitingENTERPRISE – Be ready if an opportunity becomes available. UnstructuredMultiple types of eventsBuild and leverage yournetwork Pitch solutions and makeopportunitiesYear-round recruiting

Allocating Your TimeTIMEMatureEnterprise

TimelineFocused Recruiting PeriodJob Search Competencies Self-Assessment and Clarifying Goals Industry & Company Research Building a Target List Resume Writing Personal Brand and Pitch Cover Letter Writing Networking Interviewing Offer ManagementMatureEnterprise Recruiting PeriodEnterpriseAugSeptOctNovDecJanFebMarAprMay

Representative Outreach List: 201835 maturecompanies55 companies20 startups21

What Healthcare Recruiters Seek MarketingFinanceBusinessDevelopmentStrategyPassion for healthcare is expected; healthcare experience is preferred Leadership nalytics Analytics /quantitativeTeamworkCommunication /executivepresenceLeadership AnalyticsStrong foundationof financeprinciplesStrong subjectmatter expertise(prior banking orconsultingexperience)Presentation /persuasionInterpersonaleffectiveness /ability to buildrelationships StrategicthinkingAnalytics /quantitativeLeadership /teamworkCommunicationResultsStrong subjectmatter expertise(prior consultingexperience)22

Career Switching% internship Accepted Offers – Reported “Industry or Function %63%60%40%20%0%56%87%55%57%

Pre-MBA Experience: Healthcare

Case ExampleAMY L. CHOWANSKY, WG15Undergraduate Institution: University of PennsylvaniaPre-Wharton: ROSETTA - Independent digital agency Career Switcher & Non-HCM candidate Attended health care and CPG information sessions sponsored by MBACM Actively networked at company-sponsored social events; joined clubs; participatedin cover letter and interviewing workshops sponsored by MBACM and clubs MBACM partnership: resume, interview prep, offer negotiation 4 great summer internship offers Internship at Pfizer; Full-time offer accepted Became MBACM Career Fellow25

Wharton MBA Alumni Survey 2014 – IndustryChangesIndustry change from 1st to 2nd place of employmentndst1 place ofEmploymentConsulting andprofessional servicesn 752Consumergoods/Retailn 252Financen 835Government,Education, andNonprofitn 95Health, Biomedical,and Pharmaceuticalsn 152Manufacturing,Energy, andConstructionn 236Technology, Mediaand Telecomsn 306Othern 3052 Place of EmploymentConsultingandprofessionalservicesn 463Consumergoods/Retailn 282221(29%)68(9%)36(14%)Government,Education, andNonprofitn 176Health,Biomedical, andPharmaceuticalsn 188Manufacturing,Energy, andConstructionn (5%)9(3%)19(6%)13(4%)162(53%)Financen 822Technology,Media andTelecomsn 399Othern 370

Tips for Recruiting in Healthcare Show Your Passion Research the industry/sub-sector and know the trends Why healthcare? Why company X? Competitors Network and build relationships, starting with 2Ys and alumni(especially imp for enterprise roles) Career Switchers: Function change: demonstrate your expertise in the industry Industry change: Communicate your functional skill sets andunderstanding of the industry Leverage available resources MBACM, HC Club and HCM27

MatureEnterpriseHealthcare Recruiting TimelineSeptOctNovDecJanSELF- ASSESSMENTINDUSTRY / CO.RESEARCH & JOBSEARCH STRATEGYRESUMEDEVELOPMENTNETWORKINGCOVER LETTERDEVELOPMENT,APPLICATIONS,INTERVIEW PREPINTERVIEWSOFFERMANAGEMENTPREPARE FOR &TRANSITION TOINTERNSHIPInterviewingFebMarchAprilMayJune

Hiring Data

Healthcare Accepted Internships 2014-2018Non-HCM Majors: 37% of HC accepted offers30

Companies: Internship Offers in 2017-2018*Preliminary Data as of 7/28/18Pharma/BiotechMed. DeviceProviders/PayersServicesStart-Ups AbbVieACI ClinicalAmgenAstraZenecaBayerCelgeneDenaliEli Lilly and CompanyGenentechGlaxoSmithKlineGuardant HealthIllumina, Inc.InterceptPharmaceuticalsJohnson & JohnsonMerck & Co., fiSpark TherapeuticsVertex Becton, Dickinsonand CompanyBoston ScientificJohnson & JohnsonMedtronicNevroOrtho ClinicalDiagnostics AetnaCignaCVS HealthKaiser PermanenteHealthCarePartnersHumanaCloverMount Sinai HealthSystemTriple S (BlueCross Blue Shieldof Puerto Rico)Cityblock HealthBeacon HealthPenn MedicineUPMC AthenahealthDaVitaELAP ServicesEnclara PharmaciaEpisource LLCnaviHealthPerimeterHealthcareSteward HealthCare SystemUnitedHealth Group AccoladeAledadeBerg HealthBimaDenaliTherapeuticsDoximityHealthieIora HealthModern MeadowModernaNuna HealthOncora MedicalOxeon PartnersVerb SurgicalWelltok

Source of Internship Offers: Class of 2019*Preliminary data as of 7/28/182% 1%7%Wharton Job - OnCampus Recruiting10%PersonalNetworkingConnectionsWharton Job - JobPosting52%13%Wharton AlumniContactOtherCareer Fair15%Trek Networking

Timing of Internship Offers: Class of 2019*Preliminary data as of 7/28/18

Timing of Full-Time Offers: Class of 2018*Preliminary data as of 7/28/18Enterprise RecruitingSummer Offers & 7NovDecFebMarApr2018MayJul

Internship Salary Breakdown: Class of 2019*Preliminary Data as of 8/1/18HealthcareMatureMonthly Salary Range 4,300 - 15,60025% Monthly Salary 6,993Median Monthly Salary 7,80075% Monthly Salary 8,667HealthcareStartupsMonthly Salary Range 5,200- 8,666Median Monthly Salary 7,650Median for all startups: 6,10035

FT Salary Breakdown: Class of 2018*Preliminary Data as of 8/21/2018HealthcareNumber Accepted36Annual Salary Range 73,000- 210,00025% Annual Salary 120,000Median Annual Salary 125,00075% Annual Salary 140,000Median Sign-On Bonus 20,000

Wharton MBA Alumni Survey 2014 - TotalCompensationMedian (25th percentile/75th percentile)Health, Biomedical,and Pharmaceuticalsn 3122010-2014 187,500( 126,750/ 243,750)D60 D2005-2009 240,000( 195,950/ 372,500)61

Companies that Sponsor Visa forInternational Students AdhereTechAlnylam PharmaceuticalsAmgenAnsellBayer CorporationBDBioMarin PharmaceuticalsCVS HealthDecision Resources GroupEpisourceFathomGenentechGilead HaloHelex AsiaIora HealthJohns Hopkins Medicine InternationalMedidata SolutionsNomad HealthNovartis AGShire PharmaceuticalsSteward Health Care SystemUCLA Health SystemWellthWelltokZimmer BiometNote: Companies may change the