Q. With over 76% of MIT Sloan’s Class of 2024 going into verticals[1] known for robust workloads (80+ hour-work-weeks), what continues to be an untapped career opportunity for those ambitious students who seem to be focused exclusively on consulting, finance, and tech fields?
A. If I knew while a student at Harvard Business School what I know now of the healthcare vertical’s attractive offerings to its employees, perhaps my career journey would have been different – more sustainable and more satisfying. While these other career choices offer certain advantages, they often come at a price that includes lifestyle choices, work-life balance, family priorities, mental and physical health, and sense-of-purpose, to name a few. I can speak from experience because I took this route working for one of the Big Four consulting firms after HBS but came to realize it wasn’t a sustainable lifestyle for me long-term, despite how much I liked the firm and the work.
While some students are willing to sacrifice their personal time for the initial higher compensation packages and often perceived greater cachet working for certain firms, I would argue that the healthcare vertical can provide a very competitive career track when considering a total rewards lens.
Moreover, research has consistently pointed out that while compensation is very important, other variables like an employer’s mission, values, and daily corporate culture are of similar and sometimes even greater importance when thinking about job satisfaction. I was attracted to healthcare, specifically Johnson & Johnson (J&J), because of its mission and Our Credo, which focus on the patients we serve first and foremost. Of equal importance are our employees. Our Credo also reinforces a responsibility to employees and supporting our health and well-being including fulfilling personal responsibilities. While several firms might state the importance of their workforce, J&J is one of a handful of companies that are over 100 years old and have consistently earned third-party recognition. For example, J&J recently secured a spot on Fortune’s World’s Most Admired Companies list for the 23rd consecutive year.[2]
One of the nine attributes for Fortune’s recognition program that is evaluated for nominated firms is the ability to attract and retain talented people. Given the multiple training programs (Finance Leadership Development Program, Human Resources Leadership Development Program, Marketing, et al) where incoming employees are provided two-to three-year rotations to engage and learn, our company is able to secure some of the best talent in the industry. As I recognize many of your readers are finance focused, they might consider J&J’s Finance Leadership Development Program (FLDP) which is a 2.5-year rotational program and sets them up for long-term success. The first rotation lasts 18 months, including six months of onboarding. The second rotation lasts 12 months, offering exposure to different areas of finance or business segments (Corporate, Pharmaceuticals, Medical Technology).
While there are several strong healthcare employers for your readership to consider, I am proud that J&J’s sustainable business provides not only financial rewards, including one of the few Fortune 500 employers that still offers a traditional defined benefit pension plan, but also a collaborative work environment where camaraderie and teamwork are daily norms, as we are driven by Our Credo to put patients first.
Q. Given the various opportunities that healthcare firms like J&J have, what recommendations do you have for individuals looking to enter and thrive in this vertical?
A. I was at a pharma-focused retained executive search firm before joining J&J’s talent acquisition team, so I have been helping job seekers with this question for over 15 years. I can summarize my thoughts into three key areas.
First, do your homework and research various industries and companies and see what speaks to your heart and motivates your soul. For me, this was healthcare and specifically J&J – contributing to helping patients survive and live higher quality lives longer, while providing a great career opportunity. After securing such insights, craft a genuine and convincing narrative that highlights your unique value propositions and motivations as to why you are selecting this career path/industry/company versus the alternatives. Take advantage of the career centers and libraries that are available to MBA students, such as the Career Development Office at MIT Sloan, and use them to research companies, and identify and connect with alumni at these companies. LinkedIn is also a great professional platform for outreach and introductions to fellow alumni and even those not in your alumni network.
Second, recognize that not every company can recruit directly or in-person at every institution, so your identified company or industry may not be coming to campus. As some healthcare firms may not be participating in your campus’ career fairs, you therefore will need to be more proactive in your efforts and craft a go-to-market campaign to connect with prospective employers. With nearly 80% of MBA students pursuing consulting, finance and/or tech careers at MIT Sloan and HBS, one can hopefully understand why some healthcare firms may not invest in coming to campus. Leverage corporate website job boards, LinkedIn job postings, industry association postings, alumni and networking connections, etc., to understand the variety of offerings for MBAs and how to be considered and apply for available roles.
Finally, one may need to adjust one’s mindset regarding what career success means. At professional services firms, it can be exciting if you are promoted in this traditionally up-or-out environment. At healthcare companies, like J&J, however, the thinking around career progression is focused on how we can best prepare an employee for long-term success, help them to develop professionally, and retain them if they are strong performers. In addition to promotions, success can also take the form of a lateral move into a new area or function that is designed to grow that individual intellectually and experientially. This approach enables one to build a dossier of experiences that contribute to job sustainability, as well as keep interest and new learnings high.
Bios:
Caitlin Hadtke Gagnon is Global Executive Talent Acquisition R&D Lead for the Innovative Medicine Pharmaceutical sector of J&J as well as the enterprise-wide Office of the Chief Medical Officer for pharma R&D. Managing global search projects and roles across EMEA, APAC, and the US across all R&D functions, she is focused primarily on VP-level and above positions. Caitlin earned her MBA from the Harvard Business School and AB from Dartmouth College.
Partha Anbil is a Contributing Writer for the MIT Sloan Career Development Office and an alumnus of MIT Sloan. Besides being VP of Programs of the MIT Club of Delaware Valley, Partha is a long-time life sciences consulting industry veteran. He is a Senior Advisor to NextGen Invent Corporation (https://nextgeninvent.com/), an AI, Data Analytics, and digital transformation company. He has held senior leadership roles at IBM, Booz & Company (now PWC Strategy&), IMS Health Management Consulting Group (now IQVIA), and KPMG.
Michael Wong is a Contributing Writer for the MIT Sloan Career Development Office and an Emeritus Co-President and board member of the Harvard Business School Healthcare Alumni Association. Michael is a Part-time Lecturer for the Wharton Communication Program at the University of Pennsylvania and his ideas have been shared in the MIT Sloan Management Review and Harvard Business Review.
[1] https://mitsloan.mit.edu/sites/default/files/2024-12/MBA-Employment-Report-2024-2025.pdf
[2] https://www.jnj.com/latest-news/johnson-johnson-named-a-2025-fortune-worlds-most-admired-company
