Your First Pharma Job

About 250,000 scientists are employed by biotech firms in the United States today, and a career in commercial biotech is a goal for many PhDs, post-docs, and undergraduate science students.

Recently Fiona Murray, an associate professor from MIT’s Sloan School of Management, carried out a study of knowledge work in this sector that provides enlightening reading for those interested in a biotech career.

Her report is available for download from the National Academies’ Center for Education.  Many of the report’s findings are summarized in an accompanying presentation.

Scientific jobs in biotech can be separated into three streams:

• Technicians normally require a university degree and 0-2 years of experience. They typically receive more guidance, and have little influence over the direction of the work they do. At this level, university education is increasingly being substituted for practical technical diplomas. On average, a level one technician earns just over $40K annually in base salary. Career trajectories are often limited, as it is often not possible to move up to a scientist position without a PhD.
• Scientist positions require a PhD, and frequently a post-doc as well. Even at the entry level, scientists earn considerably more than technicians — about $80K on average. Scientists have more independence and control over the direction of their research.
• Managers have often moved from a pure science role into their position, which involves the strategic direction of scientific groups, project management, and operational and financial decision-making. Often, a switch to the management track is required in order for biotech knowledge workers to shift into a higher-paid salary trajectory.  Although level 1 managers earn about the same as level 1 scientists, they command a premium at higher levels.  At level 5 (12+ years of experience), a manager earns on average $40K more than a scientist.

Why don’t scientists earn more? At a base salary of $80K+, scientists are well-paid, but when you take into account the opportunity costs of spending many extra years in graduate school and low-paid post-doctoral positions, maybe they’re not paid as much as you’d think. As with many economic questions, the reasons why come down to supply and demand:

• Large numbers of scientists are trained every year;
• The other job options for scientists outside of biotech pay even less (academia) or offer lower job satisfaction (big pharma).

What skills are biotech companies looking for?

Murray identifies some skill gaps that biotech job-seekers should consider carefully. If you can find ways to develop your abilities in these areas, you’ll be well-positioned to set yourself apart from the competition and provide employers with the profile they’re looking for:

• In terms of science, there is beginning to be a shortage of ‘traditional’ understanding of biology at the systems level.  Understanding the bigger picture of how molecular pathways relate to tissues, organs, and general physiology can help you relate your science to the pursuit of medicine and human health. Scientists with a good handle on genomics, bioinformatics and computational biology are also in short supply.
• Business skills. Scientists working for biotech firms always need to remember that there is a commercial goal at the end of their research, and if you can show that you understand these goals you’ll be way ahead of candidates who can’t break away from an academic mindset.
• Collaboration and communication skills. Commercial biotech scientists can’t hide away in the lab — being able to work with a team and communicate both with other scientists, and non-scientists is incredibly important. You can show that you have this to offer if your resume includes extracurricular teamwork activities, and by joining Toastmasters to develop your skills.

Finally, Murray’s paper takes a look at some future trends that may impact biotech jobs in the years to come, including the “deskilling” of biotech work and outsourcing.

Overall, it’s an eye-opening look at careers for scientists in biotech.  Well worth your time.

Preclinical R&D biotech, career, management, salary, scientist, skills, technician

When you’re applying for a  job in the biotechnology sector, one of the best ways to set yourself apart from the competition is through the knowledge of the industry you bring to the table.

If you’ve ever thought of taking your PhD into the world of high finance, or dreamed of starting your own company someday, then the free e-book, The Entrepreneur’s Guide to a Biotech Startup is a must-read — but understanding how all the different parts of a biotech company work together will help you in your biotech career no matter what you do.

No job exists in a vacuum. You may be applying for a job as a preclinical scientist, but if you understand how the work you do at the bench relates to the rest of the company — intellectual property, regulatory affairs, technology transfer and more — then you are in a position to deliver real value.

The Guide is a phenomenal resource for understanding how biotech companies are put together.  The author, Peter Kolchinsky, is a Harvard-trained virologist who finished his PhD and began working as an investment analyst in the biotech sector. The guide clearly explains how biotech firms are built from the ground up, beginning with an idea, and moving chapter by chapter through the business plan, legal issues, staffing, public relations, business development and more, all the way to raising capital and going public with an IPO. The chapters on drug pricing principles and clinical development are fantastic introductions to these fields for anyone exploring a career in health economics or clinical research.

The book closes with a brief note on networking, and I think the closing paragraphs are too good not to share:

“Knowing someone involves more than remembering their face and name. Well-networked people . . . find opportunities to interact with the same people on multiple occasions. Like a finger-drawing on a fogged window, a network must be traced and retraced or else it disappears.”

The best thing about the guide?  It’s free! You just need to register at Evelexa BioResources, a site full of information about biotech ventures, and you’ll be able to download it as a PDF.

Resources biotech, book review, clinical development, entrepreneur, finance, health economics, networking, startup