What Kind of Jobs
Exist?
About 28% of
all jobs in the
pharmaceutical
and medicine
manufacturing
industry are in
professional and
related
occupations.
These consist of
computer
specialists,
biological,
chemical and
engineering
technicians,
biological and
medical
scientists,
chemical and
material
scientists.
There is a great
deal of overlap
in these
occupations in
the
biotechnology
industry as well
– to include
environmental,
industrial and
food
biotechnology.
Many clinical
medical
professionals
(medical
doctors,
registered
nurses, public
health
specialists,
epidemiologists,
and
physiologists)
work in private
industry,
universities,
hospitals and
government
laboratories
working in
applied research
or product
development
directly related
to both
industries. In
addition, sales
and marketing
representatives
as well as
technical sales
support workers
often work with
the customer,
production,
engineering and
R&D departments
in these
industries to
determine how
products and
services could
be designed or
modified to best
suit the
consumer’s
needs.
Which Jobs
Represent the
Fastest Growing
Sector?
Overall growth
in the
pharmaceutical
industry is
predicted to
grow 23% by
2012. The
biotechnology
industry
experienced an
upsurge in
growth in 2003 –
a marked turn
from market hits
during 2000
through 2002.
Strong demand is
anticipated for
professional
occupations –
especially for
the biological
and medical
scientists
engaged in R&D,
and computer
specialists such
as systems
analysts and
computer support
specialists.
In an effort
to curb research
and
technological
development
costs, many
companies have
merged.
Competitive
pressures and
advancing
technology will
pressure
companies to
improve and
update product
designs more
frequently and
to optimize
sales
processes. As
companies
consolidate and
grow in size, so
do their
marketing and
sales
departments.
Despite
substantial
increases over
the past decade,
sales forces at
pharmaceutical
firms should
continue to
experience
growth.
Prospects will
be best for
those with the
appropriate
knowledge or
technical
expertise.
What are the
Professional
Growth Opportunities?
Training
requirements for
jobs in the
pharmaceutical
and
biotechnology
industry are
similar and
range from a few
hours of
on-the-job
training to
years of formal
education plus
job experience,
depending on the
job. More than
60% of all
workers have a
bachelor’s,
master’s,
professional or
Ph.D. degree –
more than twice
the proportion
for all
industries
combined.
Specifically in
science,
research and
clinical
medicine related
fields,
pharmaceutical
and
biotechnology
companies prefer
to hire college
graduates,
particularly
those with
strong
scientific
backgrounds.
Individuals with
advanced degrees
and several
years of
experience may
eventually
advance to a
managerial
position.
Publication of
scientific
papers is also
strongly
encouraged.
In these
industries,
sales and
marketing
represents 3% of
all related
occupations.
Earnings of
sales
representatives
usually are
based on a
combination of
salary and
commission.
Most sales and
marketing
workers in the
pharmaceutical
and
biotechnology
industries have
previous work
experience in a
related
specialty. In
addition,
prospects are
better for those
with appropriate
knowledge and/or
technical
expertise. It is
important for
sales and
marketing
professionals to
continue their
education
throughout their
careers, as
their value to
their employers
is directly
related to their
knowledge of the
latest
technology.
Nearly 47 %
of all jobs in
the
pharmaceutical
and medical
manufacturing
industry are in
large
establishments
employing more
than 1,000
workers, and
earnings are
much higher than
those in other
manufacturing
industries. The
biotechnology
industry has
mushroomed since
1992, with US
revenues
increasing from
$8 billion in
1992 to $39.2
billion in 2003,
employing
198,300 people
by the end of
2003.
Earnings
Median annual
earnings in the
pharmaceutical
and medical
manufacturing
industry were
$66,758 in
2003. Median
annual earning
for related
biotechnology
fields was
$60,390 in 2003
with the highest
10% earning more
than $102,930.
Median annual
earnings of
sales and
marketing
professionals,
including
commissions,
were $63,660 in
2002 with the
highest 10%
earning more
than $108,080 a
year.
These
salaries reflect
averages, and
vary
substantially
based on
specific field,
educational
background and
years of
experience.
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Jobs and Job Growth