Your First Pharma Job

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!

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Technology transfer is the conduit that helps transform public-sector science research into commercial applications, and it can transform a scientific career as well.

Many universities and public-sector research institutes have technology transfer (TT) offices. TT workers constantly observe the research being carried out, looking out for new discoveries that might have value outside the laboratory. They evaluate these technologies for commercial potential, and when an opportunity is found, they work with intellectual property experts to protect it, then seek out commercial partners who might license it. In some cases, the TT office will work to create a new company to commercialize a discovery.  On the “other side” of the equation, many Big Pharma and biotech companies have their own tech transfer teams to bring new technologies into the firm.

Jobs in technology transfer can be very rewarding for those who have spent a long time training in science because it is a career that lets you remain close to cutting-edge research and the thrill of new scientific discoveries.

A typical job description for an entry-level position in technology transfer as a life sciences licensing associate would be similar to the following:

Life Sciences Licensing Associate

Responsible for negotiating material transfer agreements (MTAs) and non-disclosure agreements (NDAs)  handled by the Technology Transfer office, including recording receipt of the document, pursuing the completion of agreements by communicating and negotiating with the other party in coordination with the case manager, obtaining signatures on final agreements and distributing completed agreement to all parties involved. Negotiation of these agreements is a highly technical scientific and legal task, and requires an advanced understanding of the university’s technology transfer policies.

Additionally, in concert with more senior licensing officers, you will be responsible for identifying and evaluating invention disclosures by faculty, staff, and students; obtaining appropriate intellectual property protections for inventions; marketing University-developed technologies to industry; participating in programs to educate researchers about technology transfer, and helping to develop a culture of entrepreneurship at the University.

REQUIREMENTS

Experience
2-3 years of experience in a biomedical research environment in an institutional or university setting.  Experience working with or processing MTAs and NDAs is preferred.

Education
A Bachelor’s degree in a life science field is required. Post-graduate work in a life science-based field, or a graduate business program (e.g., M.B.A) is strongly preferred.

A technology transfer position at this level would pay $45K or more to start.

If you are currently a student, you’re in a great position to learn more about these roles and make connections that may help you get a job when you graduate. By networking through your professors, you can probably wrangle an introduction to the Technology Transfer office at your university. Take advantage of the introduction to ask for an informational interview and ask for advice on preparing yourself for a career in this field. Many of these offices run programs which are meant to educate researchers about intellectual property and the role of the technology transfer group. Keep your eyes peeled and make a point of attending these information sessions, saying ‘hello’ and asking good questions.  Consider taking a business class or finding another way of developing some knowledge about business development, contracts and commercialization.  Many schools have student clubs that can provide you with this exposure. You might also consider joining the AUTM, an association for technology transfer professionals which offers a discounted student membership. Their website also offers a selection of freely-available resources that will help you learn about the field.

You can learn more about careers in technology transfer through the links below.

• Breaking into Technology Transfer
• Working in Technology Transfer
• A Day in the Life of a Tech Transfer Officer
• Technology Transfer and Idea Commercialization
• Surviving Your Technology Transfer Career (PowerPoint)

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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.

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A look at some recent economic numbers has the BioJobBlogger suggesting that the future may look dim for new PhDs and postdocs who were hoping to find entry-level work in the biotechnology sector.

The Future of Pharmaceutical R&D : Bio Job Blog.

“. . . a majority of the almost 160,000 employees layed off by pharma companies in the past few years have been R&D scientists. . . . Unfortunately, this paradigm shift doesn’t bode well for doctoral students and post-doctoral fellows who are training in the life sciences. This is because many entry-level biotech positions, traditionally filled by newly-minted PhDs and postdoctoral fellows will likely be filled by experienced, pharmaceutical employees who lost their jobs in the recent rounds of layoffs.”

Is this true? Maybe. However, there are a few positive things to consider about entry-level positions:

1. A lot of people are not interested in taking a step back in their careers and applying for entry-level work if they’re already accomplished and experienced at a higher level.
2. Companies trying to fill entry-level positions sometimes will not consider more experienced people for these roles. Fairly or not, more experienced candidates can be seen as more difficult to manage and more likely to be unsatisfied with low-level work and salary.
3. R&D work can be incredibly specific to particular assays and model systems. A newly-minted PhD with the exact skills a company needs may be a better bet than an experienced scientist who has been working on a different system.

So, if you have your heart set on an R&D position in industry, don’t lose hope entirely — although keeping your eyes open for other opportunities is always smart.  One last piece of advice — be mobile!  Being genuinely open to relocation will ensure that you have the most opportunities available to you. Locking yourself down to one location will almost always limit your career trajectory.

Preclinical R&D assaydevelopment, career, jobsearch, labwork, nonclinical, preclinical, R&D, research, scientist