Thinking back to my school days, I recall a few especially curious friends. Those friends who didn’t stop searching until they found answers to their questions, the ones who were a bit unique. Those are the people who stand out in my memory.

Consultant Seo Young-Jin of Bain & Company was definitely one of those friends. Despite being brainwashed (?) from a young age into attending medical school, he was always interested in “other stuff” besides medical studies. His friends – one-track minded M.D. hopefuls – always described Young-jin as unique.

Perhaps that’s why nobody questioned his choice to become a doctor under Korea International Cooperation Agency (KOICA) instead of an army physician(most male Korean doctors have to serve as an army physician etc. for three years), or his decision to pursue an MBA instead of becoming a clinical physician. Following Pae Ji-soo (Director of Seoul Wise Rehabilitation Hospital) and Sean (Seung-won) Jung (International Program Director at Novartis International’s Marketing Strategies Department), Seo is the third Medical Doctor to enter Bain & Company, one of the top 3 global management consulting firms in the world. While there is a growing number of business consultants with a medical background, they are still a tiny minority in the consulting industry.

There’s a Lot to Do in This Vast World

People always ask Seo, who is now a year into his time at Bain & Co, “Why did you quit being a doctor to be a business consultant?” In Korea, a doctor’s life means stability, a guaranteed income and a positive social reputation. That’s why most doctors hold onto their jobs. Why, then, did Seo choose the path of a business consultant?

“My parents encouraged me to become a doctor since I was young,” Seo said. “I’m one of four children, and my older sister and I went to medical school. Once I went, though, I kept thinking about if this was the right path for me.”

A member of Korea University College of Medicine’s class of 2005, Seo completed his intern and residency at Korea University’s Medical Center. Upon completing his residency in 2010, he chose the KOICA doctor who works abroad as an international cooperation doctor, instead of serving as an army physician. It was due to his passion for ‘new’ experiences.

While working in Vietnam for three years, Seo witnessed the beginnings of the expansion of the country’s healthcare industry. Vietnam, Singapore, Thailand and other Southeast Asian countries were experiencing a healthcare business boom at the time, and he instinctively sensed it could be a great business opportunity. Southeast Asia’s comparatively loose hospital regulations had enabled the boom, but he still recognized the industry’s potential in Korea.

Seo set off to attend the famous health sector management program at Duke University’s Fuqua School of Business immediately after returning to Korea in 2013. This was his first step towards becoming a business consultant, but he says it wasn’t simply a rash decision borne of instinct. He had been interested in such a career other than being a doctor since his medical school days.

“I first became interested in business consulting in college, when I happened to pass by a classroom where a business info session was being held,” he said. “It was just an interest at the time, and I looked into consulting properly after a short-term training at the University of Pittsburgh Medical Center.”

His interest in this “other stuff” blossomed during a one-month exchange in Pittsburgh. It was his third year of internal medicine residency.

Seo said the M.D.s he met at the University of Pittsburgh Medical Center weren’t necessarily all clinicians.

“From strategic planning to various industries, they were doing really different things with an M.D. background,” he said. “Seeing them, I realized I could break outside the box, too.”

Returning from the States determined to further explore his potential options, Seo began seeking older medical school alumni who took alternative paths for advice. He met Kim Chi-Won, Director of Seoul Wise Hospital, who was then working at a prominent global management consulting firm after his residency.

“I asked him about what management consulting entailed, the things someone with an M.D. could do in the field and how I could build my experience,” he said. “After several conversations I also understood some of the limitations. This vicarious experience through listening really helped me find my way.”

So Doctor Seo became Consultant Seo.

Consulting Is Just Like Patient Treatment

Upon first glance a physician and a consultant are two completely different occupations. Though treating a patient and planning corporate strategy seem unrelated, Seo says they’re actually alike.

He explained that doctors use the acronym SOAP (Subject, Object, Assessment, Plan) to make notes in medical records: determining their chief complaint and history (Subject), physical measurements, medications and test results (Objective), diagnoses and possible etiologies (Assessment), and corresponding treatment (Plan). He said the process is quite similar to that of a management consultant.

A management consultant determines and analyzes a client’s problem to pose a solution. They also advise the corporation to best execute the plan to remedy the problem and make progress. If you replace the consultant with a doctor and a corporate client with a patient, management consulting much resembles treating a patient.

Seo says the only thing different is the content involved, with some aspects of consulting work being more specific and efficient.

During one year at Bain & Co, Seo has participated in establishing corporate strategy for a diverse array of corporations. His client base is largely comprised of chemical industry, information technology, and general consumer goods corporations. The recent expansion of the healthcare sector means Seo is also providing services to pharmaceutical corporations.

Tasks divided by the minute, a heavy workload and constant competition – the life of a management consultant is no cakewalk. Seo still enjoys his work, he says. Then I became curious about which of his two occupations he found more difficult.

“They’re pretty similar in difficulty as well. The workload of consulting sometimes requires that I split my schedule minute-by-minute,” he said. “A consultant has a lot more office work than a physician. On the other hand, a physician deals with more sensitive matters of the patient’s health and life. So you can’t really place a value judgment there.”

If that’s the case, how much does the preparation for becoming a doctor help him in consulting? Wouldn’t it be completely feasible without going through residency?

“I get this question a lot from my medical school juniors, which means there are more M.D.s successfully pursuing other fields, more medical students interested in other fields.” Seo said. “They also ask me whether they should gain a few years of experience as a professional then try something else, or jump into a new path right after medical school. But reaching that decision to switch careers requires intense deliberation.”

A doctor’s path is pretty straightforward and more predictable, he continued. But that’s not the case in many other areas. A number of curious fellows are disappointed and give up when they realize doctors have stability.

To trade a doctor’s economic and general stability for a different field, Seo says you must convince yourself first. He advises doing a lot of research and learning through experience.

“Meeting people in the field is key. I still reach out to people working in areas I’m interested in,” he said. “You will always gain something by listening to their stories. Honestly, you have to meet people.”

※Bain & Co is an American management consulting firm headquartered in Boston. It is one of the world’s top management consulting firms alongside McKinsey & Company and BCG and operates 53 offices in 34 countries with 6,000 employees worldwide.

Bain & Co has conducted various strategic projects for prominent conglomerates, financial institutions and public institutions worldwide. The firm has successfully carried out numerous projects for conglomerates, banks and government agencies in Korea since opening its Seoul office in 1991.

lhs@docdocdoc.co.kr

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