How to Transition into Industry with a PhD
During my time in graduate school, everyone loved to talk about the mysterious place called "the industry." Among whispers during lunch and after seminars, students often discussed what it was like in this secret walled garden. Tales of scientists making obscene amounts of money and companies being super cutthroat were common. One PI even told me about a scientist who messed up an experiment, and the next day, his lab equipment was being taken out of the building by a crane.
Many students have accepted that they do not want to stay in academia and have looked to the industry as their way out of a career doomed to a perpetual postdoc. In this article, I want to shed light on what exactly the industry is and give some pointers on how to transition away from academia.
What is “Industry” Anyway?
When academics say "the industry," they are actually referring to a broad range of industries. Being a scientist at a pharmaceutical company is not the only path one can take after graduate school. While many of these industries appear similar, they often have stark differences in what PhDs are doing. Below is a list of just some of the industries that PhD students are sought for:
Biotechnology
Medical Devices
Pharmaceutical
Contract Research Organizations (CROs)
Management Consulting
Patent Law
Manufacturing
Editing and News
For the scope of this article, we'll focus mainly on biotech and pharmaceutical R&D, as these are typically the bench roles that most lab scientists talk about when they say "the industry." However, if you want to move away from the bench, there are many different opportunities you can pursue. For example, I myself went towards pharmaceutical consulting, where I focused on understanding vaccines and market access.
Biotechnology vs Pharmaceutical Industries
Biotech is a broad term used to describe companies that utilize living organisms to develop products or therapies. Most often, these companies focus on creating innovative therapies for medical applications, such as Bluebird Bio, Ginko Bioworks, and Moderna. However, there are also biotech companies that concentrate on other areas, including testing (e.g., CRISPR QC), assay development (e.g., New England Biolabs), and drug discovery platforms (e.g., Generate Biomedicines). Given the diversity within the biotech field, it can be challenging to distinguish it from the pharmaceutical industry, as the two often overlap.
The key difference lies in the size and focus of these companies. Biotech firms are typically smaller and concentrate on developing novel therapies or technologies. They often rely on external funding and may not have a consistent revenue stream. In contrast, pharmaceutical companies usually have an established portfolio of medicines and focus primarily on manufacturing and selling these products. While they do have R&D departments, pharma companies often prefer to fund or acquire smaller, more specialized biotechs. In fact, when a biotech successfully brings a therapy to market, it may then evolve into a pharmaceutical company itself, as seen with Moderna.
Understanding What a Biotech is Looking For
An exercise that I often have with clients is to talk through what it actually means to be in an industry science team. First, let's consider what the science teams often do in a biotechnology company. They typically focus on two major goals:
Validation: Most biotechnology companies are founded upon the premise of a certain theoretical method. For example, when Moderna was first started, it was founded on the idea of vaccines that used an mRNA vector. The goal of many scientists is first to validate the theoretical model, which can be through experimentation with cells, in vivo testing, and finding different ways a company could potentially deliver this product as a therapy.
Exploration: While validation focuses on bringing a company's product into the clinic, exploration focuses on helping a company either utilize an existing therapy for a new disease or uncover new products or targets. For example, scientists at Artiva Biotherapeutics continue to look for new indications that they can treat using their therapy based on targeted natural killer cells.
Understanding these two goals is crucial when applying for scientist roles in these companies. If you can show in your application that you can help with either of their validation or exploration teams, you will be a much better candidate, as you will already understand what they are looking for in a scientist.
Ditch the CV and show a resume
Many academics are used to using a CV (curriculum vitae), which provides a comprehensive history of their academic achievements. However, in the biotech industry, companies prefer to see resumes instead of CVs. Unlike a principal investigator (P.I.) reviewing your CV, companies often have larger HR teams, including non-scientists, who screen applications. If your resume isn’t easily understood by someone in HR, it may never reach the relevant hiring team.
Here are some general guidelines for creating an industry resume:
Keep it to one page: A concise resume is more effective.
Focus on relevant skills: Rather than listing every paper you've published, highlight the skills that align with the company’s needs.
Showcase a history of success: Emphasize your achievements both in and out of the lab.
This is just a brief overview of industry resumes. I’ll be publishing a more detailed article soon that will guide you through writing an effective resume from start to finish.
Skills to Highlight
In addition to understanding the two goals, it's important to think about how scientists work in these companies. Often, as they execute experiments, they are reporting within a team of scientists. Therefore, it is very important to understand that in the industry, scientists are constantly collaborating with one another and with their managers. To stand out when applying to a biotech, you will want to highlight the following skills:
Ability to work in a team
Conducting experiments in a timely manner
Ability to present your research
Replicability and establishing protocols
These are just some of the traits that biotechs are looking for as they assess applicants. Understand that it is more about your ability to work with a team and report accordingly than your specific experience in a certain subject area. Obviously, if you are looking to apply to a stem cell team, it will be better to have stem cell experience, but ultimately, biotechs are filled with people who come from academia and are mainly looking for quick learners that work well in team environments.
Start applying!
Once you’ve updated your resume, it’s time to start submitting applications. You can find job openings on public job boards like LinkedIn, Indeed, and Monster.
A few important notes: Given the competitive nature of these roles, it’s crucial to apply quickly. These days, if a job posting is more than a day or two old, it might already be too late. To stay ahead, keep an eye out for new listings where you can stand out. Setting up LinkedIn notifications can help you stay on top of fresh opportunities.
Whenever possible, I also recommend applying directly through the company’s website. While clicking "Apply" on LinkedIn might seem convenient, it’s often the most competitive route because it’s the easiest.
Networking
Now we get to the section that many academics are terrified of: networking. I've heard all the reasons that networking is bad, but it is important to understand that networking is critical to landing a job in industry. Many people think that this means you have to go to some cocktail party and schmooze with a person who already forgot your name, then somehow get a job. The reality is a lot more straightforward (and a lot less scary).
One of the best pieces of advice I give is to try to first talk to anybody you know in industry. Going to the source and asking them how they got their job and a potential introduction to someone who would be willing to talk to you is one of the strongest ways to start building your network in industry. If you don't personally know anyone, start asking around your department to see if anyone who recently graduated in the past five years went on to a biotech job. Try sending them an email introducing yourself, and quickly you'll be able to start conducting informational interviews to get more of the inside scoop on how to get into industry and what they're looking for.
For those bold enough to take the cocktail hour route, consider that there are many public meetings for people looking to enter biotech. Whether it be a club at your school, a nearby school, or even an association such as MassBio in Massachusetts, going to the seminars and speaking with people who are in the industry is a great way to get a better understanding of what's actually going on and how to get in on the action.
The ultimate goal of most networking will be to try to get a referral to a company. It's important to realize that when you're applying to a public posting, you can often be up against hundreds of different candidates, whereas a referral can push you immediately to an interview. I tell my clients that it's not worth the hassle to apply online and instead focus on networking, as referrals are the biggest source of interviews and eventual job landings.
Interviewing
If you’ve landed an interview, congratulations! You’ve overcome one of the biggest hurdles in the selection process. From here, most companies will have you go through three or more rounds of interviews. While the exact process can vary by company, here’s a general outline of what to expect:
1st Round: This is usually conducted by a hiring manager, HR representative, or recruiter. It’s often a brief phone call or video interview to ensure you’re properly qualified for the role. The questions will likely focus on your specific skill set and verifying the details on your resume.
2nd Round: At this stage, you’ve been identified as a match for the job description. You’ll typically meet with the leader of the team you’d be joining, such as a director or lead scientist. This round delves deeper into the technical aspects of the role, exploring the scientific details and your relevant experiences.
3rd Round: This stage often involves multiple interviews and may include a presentation. By this point, the focus shifts to whether you’re a good fit with the team. You might meet with senior leaders (e.g., the Chief Scientific Officer) as well as potential colleagues like technicians and other scientists.
Negotiation and Success!
If everything went well, the company will extend an offer for you to join their team. While receiving the offer is a major milestone, don’t forget to negotiate! While many companies may have a firm stance on salary, there are often other benefits you can negotiate, such as relocation assistance, accelerated promotions (depending on your skills), or adjustments to your bonus percentage. Companies expect some negotiation, so don’t leave opportunities on the table. Once you’ve reached an agreement and signed the paperwork, congratulations—you’ve successfully transitioned to the industry!
Final Tips
This article covers just the surface of the biotech industry and how to transition from your PhD. While the industry may appear as an elusive and opaque place, it's really just another job. The good news is that most of the people in the industry are actually from academia, so don't worry—they are also used to complaining about their PIs as well. Though it's a long journey, remember that almost half of PhD candidates end up going into jobs in the industry, so it is definitely possible and happens every single day.