Life Scientists:Looking for a Job? Consider the Cannabis Industry

Posted in BioBusiness, Career Advice

According to a recent article, the 2013 to 2014 US market for legal Cannabis (medical and recreational) grew 74% from $1.3 billion to $2.7 billion. Industry analysts predict that the legal marijuana industry is (and will continue to be) the fastest-growing industry in the US over the next 5 years with annual revenues topping $11 billion by 2020.  And, as the industry grows so will employment opportunities. At present, salaries associated with various job functions in the Cannabis industry range from $50,000 to $90,000. As many businesses that support the Cannabis industry continue to grow, the competition for qualified employed will intensify and salaries will concomitantly rise. Currently,, there aren’t enough trained job candidates to fill the many job openings at Cannabis companies. I am sure that many of you who hold graduate degrees in the life sciences are wondering why I am pitching jobs in the Cannabis industry.

First, traditional jobs for PhD-trained life scientist are getting scarcer and the election of Donald Trump suggests that this trend will not be reversed anytime soon.

Second, consider that growing and cultivating marijuana and extracting cannabinoids (the pharmaceutically active molecules in Cannabis buds) require a background in laboratory methods, chemistry, biology and in some cases plant science. For those of you who may not know, the medical Cannabis market is focusing almost exclusively on cannabis extracts and vaporization of these extracts (rather than smoking) is the preferred delivery methods. This suggests that those of you with backgrounds in biomedical engineering and medical devices  can leverage your expertise and skills to obtain jobs in the delivery side of the cannabis industry.  

Third, the expansive growth and sheer economic size of the Cannabis industry suggests that other jobs that require a life science background are likely to emerge. These include quality control/assurance jobs for strain identification, diagnostic jobs to determine THC levels/intoxication, molecular biology and bioinformatic jobs to continue to explore and unlike therapeutically relevant molecules from the Cannabis genome and synthetic biology jobs to increase cannabinoid yields and reduce production costs. Finally, there is currently a dearth of qualified job candidates with scientific backgrounds to fill entry level grow and extraction jobs in the Cannabis industry.

At present, the industry is mainly dominated by long time Cannabis growers, people who use marijuana on a regular basis and some moxy business people/investors who see an an enormous upside for the Cannabis industry. Put simply, now is the time to get in on the ground floor of an industry that is exploding and will ultimately become a legal multibillion dollar a year industry. While I’m sure that neither you nor your parents/family envisioned a career in Cannabis, the jobs are there and ripe for the picking (pun intended).

Until next time…

Good Luck and Good Job Hunting!!!!!!!!!!!

Preparing for Job Interviews

Posted in Articles, Career Advice

Much as been written about how to prepare for a job interview. I know that many of you are busy and don’t like to read long articles. To that point, the old adage: “one picture is worth a 1000 words” is especially apt for this post.  The following infographic came to me from Atiq Rehman of Acuity Training in the UK.

Until Next Time,
Good Luck and Good Job Hunting!!!!!!!!!

Blizzards and the American Work Ethic

Posted in Career Advice

It’s been a while since my last blog post but the hysteria over the would-be blizzard of the century got me thinking again.  The Great Recession that began in 2008 (which appears to be over) has forced the American workforce to work harder (without commensurate increases in salary and vacation time) than ever before. Consequently, those who were lucky enough to retain their jobs are frequently stressed, fatigued and pushed to the breaking point. Therefore, it is not surprising (to me at least) for any excuse –like an exaggerated, overhyped blizzard–to not go to work!  Put simply, looking for cataclysmic climatic events to get the vacation time that employees so desperately need is not in the best interest of the American workforce!  Perhaps employers ought to allow employees to take more time off and guarantee them paid sick time rather than rely on blizzards to give their workers a much needed break.

The US economy seems to be in good shape as compared with the rest of the world.  Although American productivity is at a historical high, I do not think US workers will be able to maintain it into perpetuity. That said, the US greatest advantage over other countries in the world is ingenuity and innovation.  And, to innovate, people need time to think and identify the next “big thing”   And, while a snow day here or there may be restful, the time off is certainly not sufficient for workers to garner enough time to think about the next world-changing technology or innovation.

Until next time….

Good Luck and Good Digging Out (if you got any snow)

 

Cannabis Derived Pharmaceuticals The Next Frontier?

Posted in BioBusiness

I wrote an article on the emerging medical marijuana and cannabis-derived pharmaceuticals market for Life Science Leader.

Please click here to view!

It was a very interesting article to research and fun to write Please let me know your thoughts and feedback!!!

 

Until next time….

Good Luck and Good Job Hunting (not when you are high of course)

It’s Layoff Season

Posted in BioBusiness

Yes–it is that time of year again–layoff season!  To that point, Amgen announced today that it was laying off an additional 1,200 jobs above the 2,900 the company announced it would layoff this past July.   Together, these layoffs represent about 20% of Amgen’s global workforce.  Amgen joins other life sciences companies including Novartis, Sanofi, Pfizer, AstraZeneca and others that have announced layoffs in 2014.

Companies like to announce layoffs in the Fall, to let employees who may be affected by the downsizing to not expect their bonuses this year (which are typically paid at years end).  While this is strictly business, it does kind of put a damper on holiday season joy.  And, because corporations are considered to be “people” –at least according to the US Supreme Court–they ought to show a little more sensitivity and compassion when announcing downsizing and layoffs before the holiday season.

Until next time…

Good Luck and Good Job Hunting!!!!!!!!!

FDA Announces Social Media Guidelines–Yawn!

Posted in Social Media

After a very long blogging absence, I decided that it was time for me to begin to write posts on things that continue to pique my interest.  The recent announcement that the US Food and Drug Administration (FDA) has finally released its long awaited guidance on the use of social media in the life sciences industry including pharma, biotech and med. devices.

While words like long awaited have been used to describe this monumental announcement, I think nobody really cares anymore about what the agency thinks about social media!  Put simply, despite some interested starts and stops, social media is not an integral part of the life sciences industry and likely will never be.  In the beginning (about a decade ago) social media transformed a number of industries by introducing transparency and engaging stakeholders to improve their bottom lines. Unfortunately, the modus operandi in the life sciences industry, by virtue of it business model, is opaqueness not transparency. Further, life scientists and life science employees are not the most social individuals and their use of social media for business purposes is almost non-existent. Consequently, social media and the life science industry are not a good fit!!!! Finally, early players in the life science social media space including Novo Nordisk and J&J have already leveraged what they could using social media and have moved on.

In summary, while it may be a banner day at FDA because the agency finally released its social media guidelines, I do not think anybody really cares anymore. The trajectory of social media is on its downward slope and it is no longer fresh or new (except maybe in the minds of pharma/biotech executives).  In fact, social media is no longer new media and is now considered a standard staple of all communication platforms. While many industries benefited from social media it was never a priority for the life sciences industry and industry executives (and US regulators) did everything in their collective power to ensure that social media did not interfere with the secrecy and intentional opaqueness that dominates the industry.

Until next time,

Good luck and Good Job Hunting

Tales and Musings From A Life Sciences Job Seeker: The PhD Industry Career Gap

Posted in Career Advice

Ryan Raver, PhD author of the Grad Student Way blog and formerly of the University of Wisconsin_Madison (my alma mater) posted a piece on his blog about his personal discoveries and revelations about searching for an industrial life sciences jobs.  In my opinion, Ryan’s piece is one of the best that I have read to date that provides a reality-based road map for recently-minted PhDs who want to eschew a postdoc and enter the life sciences industry (he is now working for Sigma in St. Louis, MO)

Ryan has allowed me to reproduce his brilliant piece on BioJobBlog.  Also, I recommend that you visit his blog which is choc full of great ideas and strategies for graduate students considering careers outside of academia.

5 Ways to Gain Valuable Skills Outside of Your Academic Training

November 14, 2013 by 

The PhD Industry Career Gap

We already know that the PhD Market is saturated, and articles that “promote awareness” or point out the PhD-Industry Gap are a dime a dozen. What’s missing from the equation are the solutions.  The reality is that the first job that you obtain directly out of graduate school is the most crucial. It is also the most difficult. Therefore you need to be aware of all of your possible options.

The odds are against you. You look like a science person. You want to go into industry but they look at you as an academic with only one marketable skill: bench science.

The doom and gloom articles aren’t going to help you get anywhere. And frankly, I think we are all just tired of reading them.  Many experienced working professionals are aware of what the market looks like, but as long as they are employed, who wants to think about what they could have faced?

The newly minted PhD is experiencing the hardships right now and searching for answers. The reality is that many just don’t know how to provide real practical solutions and the attitude is that “hard work” will get you to where you need to be. And it’s “good luck” to you because you are entirely on your own.

If you could rewind and go back a few years maybe you wish you knew all this sooner rather than later. Maybe you finally decided to join the 85% club and face reality (only 15% will land a tenure-track position within 5 years). But you need to put the past behind you and move on.

The bottom line is that if you have the right personality, drive, leadership, and strong interpersonal skills and the ability to work well in a team environment, then breaking into a field of your choice is very feasible. You just need the know-how. This ‘right personality’ will be valuable as you work in a team and develop your needed skill set(s) that will carry with you into your future career. Although there is a glut of capable job seekers, do not let this discourage you.

Before we dive deeper, you need to understand that there is no set career path, and everyone’s career path is UNIQUE. Many working professionals stumble into their current career path by accident, chance, change of interests/goals, life situation, or series of occurrences. But hopefully with the advice given, you will find your calling.

If you ask, let’s say an experienced manager in industry, how they got to where they are today-many will tell you that they did not plan on jumping into their field directly from their PhD. That’s because the majority of PhDs don’t really do any career planning. You’ll jump into the postdoc only to leave after you spent X amount of years figuring out what you truly want to do. During graduate school, the focus is on getting the PhD and the attitude is that things will just unfold and work themselves out. This can continue throughout the postdoc position(s).

There is a sense of entitlement among PhD’s. Their ego takes ahold of them. “I worked this hard, therefore I deserve this position or X amount of salary.”  Guess what? You have to pay your dues just like everyone else.  The PhD doesn’t guarantee you the job, and although you may have published a Nature paper, it doesn’t add any value to a company or client (and when you hand your business card to a customer, they see your name, company, your position title, letters next to your name, and nothing else). The real question is can you work well in a team? Can you communicate effectively without putting yourself above others? Once you realize there is a bigger picture than just YOU and how you are just a piece of the puzzle, than you will finally start to see the benefits.  Be someone who under-promises and over-delivers.

There is also a backwards strategy that many PhDs take on during their career search. They focus on the position and match that up to the company. The problem with this is that it takes the focus off how you can add value to a company. It becomes more about you. The point is that if the position that you obtain within the company will add the most value based on your strengths and contributions, then it is the best fit. Therefore, when doing your job searchfocus on the company first, how you can add value, then backtrack to find the correct position. This means you should have multiple roles in mind that play on your strengths and not just one. If you haven’t figured this out yet, here is what you missed earlier.

When it comes to a resume or cover letter, there is too much emphasis placed on these two items. They are simply a tool to get you an interview and nothing else. Once you reach that interview stage, you need to get over what is written on your resume and focus on the value that you can add to a company. Not brag about what you did with your thesis work. No one really cares to hear about your thesis anymore.  A PhD is a training program to help you develop as a scientist and launch your career.

If you are banging your head against the wall that’s probably because you aren’t doing it right. Or you just lack the marketable skills to crossover (which is discussed later in this article). Or it could be a combination of both.

To quote Donald Asher who is author of Cracking the Hidden Job Market, “You get a job by talking to people: You don’t get a job by having a great resume, a good interview look, a firm handshake, or a solid education. You get a job because you get in front of somebody and they decide to add you to the payroll. Most job seekers look for jobs by talking to computer software. It’s faster to talk to people. People are more likely to pass you along than computers are. Computers are picky. People are helpful.”

You can beat the odds. Frankly, you have to beat the odds.

“The United States quit creating jobs more than a decade ago. Then the Great Recession hit, which I date from September 14, 2008, when Lehman Brothers failed. This smacked down workers even more. According to the Bureau of Labor Statistics, between 1999 and 2009 the U.S. economy created only 121,000 new jobs, a growth rate of .01 percent/year. A decade to create 121,000 net new jobs! It takes 125,000 new jobs per month  to keep up with the population growth alone. It will take considerable time to create enough jobs to absorb the 30 million people who are unemployed, underemployed, or discouraged and off the market.”

The economy is exacerbating anxieties. A survey done in 2012 in Nature shows the concerns of many scientists around the world as the global recession squeezes research budgets. The shortfall in grant funding is nothing new, but many will soon realize that industry offers many attractive ‘alternative’ career options.  On the bright side, the unemployment rate for PhD’s is below 4%. But getting a PhD doesn’t mean that you are immune to economic hardships or the struggles of finding a job.

Half of PhD candidates in the life science and engineering field still requireseven years or more to complete their degree. If you have invested all this time and have decided to finish, don’t you want to see a return on your investment without ‘giving up’ even more years of your life? In other words, if you don’t plan on staying in academia, why are you spending 5+ years as a postdoc?

So the question becomes, how can you beat the odds? What can you do NOW as a PhD student or postdoc that will give you the marketable skills to crossover? And when you gain these marketable skills, how can you couple this with NETWORKING so that you are tapping into the “hidden job market”?

Solutions to Beat The Odds

Now that you are aware of the problems and what you will be faced with or are going through, there needs to be solutions that give you an edge.

If you haven’t already, make sure you read the article: “The missing piece to changing the university culture.” The biggest challenge that we are faced with today as PhD students is a culture change:

70% of life science PhDs pursue a postdoc after graduation (based on 2010 data) which means that PhDs are unsure of their careers and/or unequipped for a nonacademic career. 40% of graduate students are indifferent or unsatisfied with their graduate school experience. Current PhD programs will continue to train primarily for an academic career. But this is a ‘false hope,’ and you may be in your mid-30’s until you’ve come to realize this and decided to make a change. It is time that Universities, faculty, and professors stop looking the other way when it comes to fixing the problem.

The Biotechnology and Life Science Advising (BALSA) group was founded in 2010 by a group of dissatisfied postdocs and graduate students. The result is that through their collaborative efforts, they have developed a model where post-docs and graduate students work with startups in the form of 6 to 8 week consulting projects. The result? BALSA has worked with 37 companies and 53 projects. Graduate students and postdocs are coming out with real world business experience.

Even researchers with NO prior business knowledge are making valuable contributions to both early and late stage companies. As a PhD student or postdoc, you are trained to analyze and think critically. The best part is that BALSA’s partnership with Washington University in Saint Louis and the Office of Technology Management has provided Universities and Principal Investigators as a means to commercialize their work.

Although BALSA’s efforts look promising, we are still left with the question as to whether these efforts can be expanded on a national level. Also, are they sustainable? Will Universities and Professors push more for the adoption of these efforts? Only time will tell.

The bottom line is that you aren’t going to sit around and wait for BALSA to come along to your University. So in the meantime, you have to go create these opportunities on your own. BALSA may give you hands-on experience (via projects) with industry challenges, business concepts, competitive intelligence and market analysis, technology due diligence, regulatory affairs, project management, and licensing/business plan development. Does this sound like a checklist of wishful thinking? Well, there is nothing stopping you from gaining some or a combination of these skills and experience during your time as a graduate student/postdoc.

So here are the top 5 solutions to gain valuable skills outside of your academic training and beat the odds once you get your PhD:

1)      Consider Consulting

There are many consulting opportunities available for scientists. These many options span freelance work, working for a consulting firm or even starting your own consulting company. Whichever that may be, I would highly recommend doing freelance consulting work during your PhD. This could shuttle you into a management consulting position upon graduation.

Find a unique skill set that you are good at and offer your services to a company. If you need an example, check out how a graphic illustrator/scientific visual communicator went freelance during and out of graduate school.

Another example is self-taught SEO or social media marketing consulting. Many companies (including start-ups) are blogging and doing digital marketing, and learning the ropes of Twitter, Facebook, LinkedIn, etc. If you are already running a professional blog (all PhD students should!), you have already learned how to effectively run social media and marketing campaigns, and chances are you could do part-time work offering your services. You are also developing your technical writing skills in addition to sharing scientific ideas and making worldwide network contacts.

**Management consulting can be an excellent way to put your analytical and scientific training to use while you develop your business expertise. If you have the passion to innovate, drive change, and help companies be more successful, it might be the career choice for you. You will learn how to lead teams, manage people, and take on challenging and interesting problems. The connections that you make with top business professionals will also open doors to future career opportunities. And, your hard work and efforts could also have a huge impact on the future direction of the company.

Further Reading:

http://www.branchingpoints.com/one-branch-ahead/phd-to-consulting/

http://www.phdcareerguide.com/consulting.html

http://www.phd2consulting.com/

2)      Consider doing a summer internship during your PhD studies or during your postdoc

As mentioned in a previous article, the most practical solution for many is to obtain a paid internship (ideally) during your time in graduate school. Internships are CRUCIAL and I cannot stress enough that graduate students and post-docs should take a summer off (or balance the internship 50% and graduate school 50%) and obtain industry experience. That way you will come out with real-world industry experience and some marketable skills. You need to negotiate and leverage this in any way that you can.

A lot of companies are willing to try you out for a short 3 months. That initial spark will come from their interest in you via informational interviews (see below). Chances are if they like you at the end of the internship, you might also have an offer waiting for you upon graduation at that same company.

The first step to land an internship position is to do informational interviews and start networking. You can read more about informational interviews here. Read: How To Network and Add Value to Yourself and Others to get a good starting point. Just because internship positions aren’t posted doesn’t mean they can’t be created or they don’t exist. Ask around and you’ll be surprised what you will find.

Internships also boost Postdocs’ skills and really add to their marketability. The challenge as any might imagine, is getting your PI to agree.

3)      Consider auditing or taking business classes, participating in workshops, or leading/organizing business events on campus.

If you are a science person, then take a business class and start networking with business professors and MBA students. If not business, find a secondary interest and step out of your comfort zone. Get involved in patent law, tech transfer, computer programming, or entrepreneurial classes. This will come down solely to you and your interests. Many business professors will allow you to sit in their class even if you aren’t taking the class for credit. Entrepreneurial management classes for example, will expose you to writing business plans and doing SWOT analysis, and growing local starts-ups via group projects.

4)      Start a side business, professional blog, develop a product, or find like-minded individuals preferably with an entrepreneurial mindset or business drive.

5)      Network every week. Then network some more.

Step 1: Network to obtain an internship and gain the marketable skills that you need

Step 2: Network to obtain a job post-PhD

Did you catch that? You need to network to create opportunities. Then you network to create more opportunities beyond that. During or after PhD, it doesn’t matter. If you lack marketable skills, you’ll need to network to obtain them or find out what those specific skills are. Even with internship experience under you belt, you will need to network beyond the PhD to land an industry position. Obviously, it is MUCH easier to use the power of networking when you already have the marketable skills to find an industry job versus networking from scratch (i.e. skipping Step 1 and jumping right into Step 2). But whatever stage you are in, it is never too late to start. There is no stopping when it comes to networking and the truth is that it is a lifelong process and requires continual effort.

PhD graduate students and postdocs simply don’t network enough. How can you understand the needs of a company if you don’t speak to people? How can you know the industry, the market, and the customer? Chances are a startup company in your area has a need. What value can you add to fulfill that need?  This ties into #2 above.

There are many more examples. The reality is that it is not impossible to create opportunities, take on an internship, do consulting, and/or run a professional blog during your PhD and come out with a huge leg up upon graduation. Those that do #1-#5 or a combination thereof will stand out from the crowd and will most likely beat out other PhD students who focused on nothing else but getting their degree. Chances are you will land a job in industry and work in a fulfilling career. Gaining the marketable skills to crossover is no easy task, but with hard work, patience, and the right connections anything is possible.

Keep pushing and you will see good things come your way.

Email me with any questions. Future article will be on how to transition into Product Management, Marketing, or Sales.


Further Reading:

Internships Boost Postdocs’ Skills, Worldliness, and Marketability

The PhD Industry Gap

Life after the PhD: Re-Train Your Brain

3 Things PhDs Leaving Academia Should Know About Business

Taking Charge of Your Career

Until next time…

Good Luck and Good Job Seeking!!!!!!!!!

Tis the Season…to Lose Your Job

Posted in BioJobBuzz

It is that time of year again….the layoff season.  Coincidentally, the end of the fiscal year frequently overlaps with the beginning of the holiday season.  This means that profits and losses for the past year have already been tabulated and new budgets have been crafted for the new fiscal year.  Not surprisingly, this is when management has the numbers and metrics it needs to determine upcoming staffing levels and whether or not layoffs are necessary.

To wit, yesterday Bristol Myers Squibb announced that it was laying off 75 workers in its R&D division to realign research priorities and cut costs. Also, Ariad said yesterday that it was reducing its US workforce  following its decision to temporarily suspend the marketing and commercial distribution of Iclusig® (ponatinib) in the U.S. Earlier this week, Novartis indicated that it would slash 500 jobs as it realigns its research efforts and attempts to control costs in both Europe and the US. And Shire announced that is was cutting 180 jobs in a UK facility. Finally, a little over a month ago, Merck announced that it would slash 8,500 R&D and marketing/sales positions worldwide.

Admittedly, getting laid off at the beginning or during the holiday season is a horrible thing. That said, since things are slowing down anyway, it gives persons who received pink slips sufficient time to beef up their resumes/CV and stash their year end bonuses into their IRA or checking account.

Tis the season….

Until next time…

Good Luck and Good Job Hunting!!!!!!!!

Alternate Careers: How To Become a Clinical Research Professional

Posted in BioBusiness, Career Advice

I am often asked about “hot” alternate career paths.  Sadly, even alternate career opportunities for PhD-trained scientists have waned in recent years. However, there is and will continue to be a rising demand for clinical research professionals. This is because life sciences companies are more keenly focused on drug development (which includes human clinical trials) than they are on drug discovery.

The transition from a basic to clinical research career is not an easy one; mainly because clinical research encompasses a wide and diverse range of skills that are often not offered to most graduate students or postdocs during their training.  That said, those of you who are willing to take the plunge should read a great article  entitled Training New Clinical Research Professionals To Work On The Front Line by Eduardo F.  Motti, MD in the July/August 2013 issue of Pharmaceutical Outsourcing Magazine.

Dr. Motti offers an incisive view of the burgeoning clinical research field and the skills sets and training that are required for persons interested in gaining employment in this field.

Until next time…

Good Luck and Good Job Hunting!!!!!!!!!

Healthcare and Social Media

Posted in Social Media

I received this infographic from an organization that is promoting a Masters of Public Health program.  It is interesting and I thought I would share it with BioJobBlog readers.
Healthcare and Social Media
Source: Healthcare and Social Media

Until next time…

Good Luck and Good Job Hunting!!!!!!