Can scientists solve the financial crisis?

Given the current financial crisis, becoming a quantitative analyst probably isn’t at the top of many “careers in demand” lists these days. But if you’ve ever been curious about how you might be able to put your scientist’s mind to work solving problems on Wall Street, check out this Science Careers podcast with finance exec Lee Maclin, director of research at Pragma Financial Systems. Or read about algorithmic trading and quantitative analysis at the Advanced Trading Quant Center… but if this is the career you’re hoping for, you might want to ‘hedge’ your bets until things get back on track!

How to sell yourself and manage your career goals — Webcast

Here in Toronto, the MaRS Discovery District is a biotechnology research hub that was specifically developed to connect the science, business and finance communities.

If there is a biotechnology hub like this near you, it can be a great resource for your job search. MaRS frequently holds events and seminars that allow students and interested members of the public to learn more about all aspects of the biotechnology sector.  One series of lectures, called Entrepreneurship 101, is especially useful for getting a behind-the-scenes look at what’s involved in the operation of a biotech business.

Not in Toronto?  Never fear!  The Entrepreneurship 101 lectures are available for free online as webcasts.

This particular session, “Managing your Career – how to sell yourself and manage your career goals“, is of particular relevance for this blog. Teresa Snelgrove, an executive recruiter specializing in the pharmaceutical and biotech sector, and Frederic Sweeney, a scientist who left the lab to start a career in finance, both share insights into the job search and career development.

You can view the webcast here, and download a PDF of the presentation here (requires a free slideshare registration).

A webcast of a previous version of the same presentation can be viewed here.  You may also want to check out the full archive of Entrepreneurship 101 presentations.

The entrepreneur’s guide to a biotech startup

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.