In Industry, It’s About More Than Just Salary

July 24, 2013

Pondering a career in industry?  Then you need to be aware that the industry job offer may contain elements not part of offers in academia, government or non-profits; industry jobs often include a profit sharing plan.

Industry profit sharing takes two basic forms; dividends, a cash payment made to employees and share-holders based upon the performance of the company, usually on an annual basis, and equity, the actual ownership of shares of the company.  Equity in a company is granted by one of the following methods:

  • Stock grants:      A company may grant actual shares of its stock to employees.  The value of these grants is determined by the price at which the shares are traded on one of the stock exchanges.  An example: You are granted 100 shares at $5 per share. Over time if the value rises to $10 per share; the grant becomes worth $1000 after a vesting period.  Vesting is the time that you are required to hold the stock before you can sell.  If the vesting period is four years, you may sell up to 25% of your shares each year, or you can wait the four years and opt to sell all of your stocks.
  • Stock options:   If the company grants a stock option, it gives you the right to buy a specific number of shares of your company’s stock during a time and at a price that the employer specifies.  Typically this stock price is lower than market value.  As in the above example, you are granted the option to purchase 100 shares at $5 per share.  If the value rises to $10 per share, the option to you becomes worth $1000, minus the $500 you paid, or $500.  As in stock grants, a vesting period usually applies for options as well.
  • American Depository receipts (ADR’s): ADR’s are used by non-American companies whose stock trades on a foreign exchange to provide an equity vehicle for American employees.  Its value to you would be calculated in the same manner as a stock option.

Most importantly when considering a job offer, make sure to take into account the offer in its entirety, not just the salary.  The value of these other elements may comprise a significant percentage of total compensation.  In some cases, where the value of the stock has risen tremendously, many of their employees have made huge sums of money.  However in other cases, where the stock has hovered near its price at the public offering, employees have made very little.

The value that these profit sharing vehicles can add to your compensation may vary.  Make sure you connect with your Career Services Center (for NIH intramural trainees that is the OITE) to help you with the negotiation process to optimize the value of the offer you receive.

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Dont Leave Us Hanging!

July 16, 2013

As you get ready to end your summer internship or your summer rotations as a grad student, don’t forget to keep in touch.

We often hear from our younger trainees that you enjoyed your summer experience.  You like the research and felt you got along great with your mentor(s). Yet, when many of you write to join the lab again the following summer or to get a letter of recommendation your feel like you never hear from the advisor or you get a lukewarm response.  “Why?” you ask,  “I did good work.”   Of course you did, you just forgot to demonstrate how much the work meant to you and how much you want to stay a part of that work.

We know that it can be hard to keep up with your labs when you leave (without feeling like a stalker).  So, here is a suggestion to get started.  Send your PI a brief thank you note within a month of leaving.   This does not need to be a long email, just a few short lines thanking them for letting you be in their research group, something valuable that you learned, and that you hope you can keep in touch.  Write a separate (and different) letter to your day to day mentor or supervisor in the lab, probably your postdoc or graduate student.

You can always follow up anytime with a quick hello, and to let people know that you still are thinking about your experience.  Once a semester is even enough.  Ask about the project you worked on and if there has been any progress.

If your research has helped your coursework or your coursework has finally made something you learned during the summer more clear, let people know.  (i.e. this week we studying signal transduction which made me think about…)

Follow pub-med-watch to see if that paper that the lab was toiling over all summer was finally published.  Then send a note to congratulate the authors.

Connect online, LinkedIn is a terrific way to make a connection.  You should ask your advisor and other labmates if they would like to be connected before you send them an invitation.  Also, remember LinkedIn is static, and not everyone in the scientific community yet uses it to its full ability.  It will not replace an active networking outreach as described above.

When it comes time to return to the research group or to ask for a letter of recommendation, remind them who you are and what you did in their group.

Good luck to you as you wrap up your summer research experience, we are glad you came!


How a Mentor Helped Me Succeed…and How I Now Get to Help Her

July 10, 2013

Post written by Lori M. Conlan, Director of the Postdoc Office and the Career Services Center at the OITE

This week I had lunch with the first mentor I had outside of the lab environment. In 2006, I had just left my postdoc to join a non-profit in Manhattan—the New York Academy of Sciences. I knew I could do the job running a career development program for graduate students and postdocs, but I was clueless about how life worked in an office. I started on a Tuesday, and by Friday I was sent off on my first business trip to Miami. One of my colleagues, the VP of marketing and membership, went with me. Through out the entire trip she explained the rules of the trade and actively engaged me in business meetings with university leaders. She was never officially charged to be my mentor, nor did I specifically ask her to be my mentor—it was a relationship that grew organically due to the integrated nature of our work. Over the next year or so this terrific mentor helped me learn to develop successful marketing campaigns, improved my non-technical writing, taught me how to be persuasive, and most importantly how to navigate office politics and big egos. I always knew that she was giving me more than she was receiving, but she has always been passionate at mentoring the next generation. We loosely stayed in touch after she left the organization, a common thing that happens with networking and mentoring. I was always appreciative that she smoothed the transition from the bench to the desk, but never knew how I was going to give back in the circle of networking.

Fast-forward seven years. She and her husband are moving to DC for his job and she is looking for connections here. Now, I am happy to be on the other side giving back to the networking relationship. We chatted about what her passions are and how she can relate her skill sets to those passions. She went away from lunch yesterday with broader ideas about the types of places she would like to work, specific venues in DC, and even a few introductions. I know she is a master networker, and has met with tons of people as she explores what is next in her career, but I did feel like I gave back a bit for all the good she did for me years ago.

When I talk with fellows about finding mentors, they often ask, “But what do I have to offer them?” So, as you ponder setting up mentoring relationships and you wonder about how you will give back to the relationship—don’t underestimate what you may be giving back in the future. Mentoring always leads to positive outcomes for both people in the relationship. And what those positive outcomes are changes as your lives change. I hope you too find a mentor that you can connect with for years to come.  And don’t worry if you lose touch, these good mentoring relationships can always be re-invigorated no matter how long you have been apart (even seven years in this case).

Check out the OITE’s other blog posts for more on mentoring and networking


How We Learn

June 27, 2013

Post written by Sharon Milgram, Director of The Office of Intramural Training & Education.

Science careers, at or away from the bench, require us to be life-long learners. To be successful, we are always learning – and teaching – new skills. While many of us enjoy this, it also comes with frustrations and challenges. In considering how we learn, I was struck by the excellent and concise explanation of the stages we typically go through as we learn and develop new skills. I found this in a short book entitled “Self Leadership and the One Minute Manager” written by Ken Blanchard. Intramural trainees can find the book in the OITE Career Library, and it is widely available in other libraries and on-line. In this book, Blanchard summarizes the four stages of learning: enthusiastic beginner, disillusioned learner, cautious performer, and high achiever. This summary is helpful to us as life-long learners and as colleagues, mentors and supervisors of others in our work groups.

At the outset, enthusiastic beginners are confident and excited. However, this confidence and the excitement of a new challenge can get in the way as enthusiastic beginners often forget how challenging a task might be. Enthusiastic beginners need a lot of supervision and direction so they stay focused on learning the fundamentals and solidifying the basics. After a short while, and after a few (too many) mistakes, enthusiastic beginners typically become disillusioned learners. We realize how hard it is to truly develop that new skill and doubt starts setting in. In this stage, we need support and encouragement to stick with it. Once we gain some proficiency we enter the cautious learner phase; we are more proficient and more confident and as a result we learn more quickly. In other words, success breeds success — and we are on our way toward becoming a high achiever. At this time, we need the right balance between supervision and independence, as one can only become a high achiever by taking risks and learning from our mistakes.

Whether you are a postbac or summer intern learning how to do PCR for the first time, a grad student preparing for your first committee meeting, a postdoc mentoring your first summer intern, or a senior fellow ready to launch your independent career, remember this simple model of how we learn. Be proactive and find support, encouragement and direction when you need it. If you are the supervisor/mentor, use these strategies to help your employees and mentees learn. It may just keep you going when you get stuck and will help you be compassionate as your colleagues, students and mentees learn new things as well.


Community Provides More Than Support

June 17, 2013

There are many important aspects to having a successful career.  One aspect often overlooked is making sure you have a community of peers.  Communities provide more than just support for everyday life and challenges.  They are great for building networks, developing co-mentoring relationships and gaining leadership experience.  Coming to a large campus, like the NIH or a college campus, can feel like you have landed on a different planet.  Everything is so different.  Finding welcoming and supportive groups and peers can help ease that transition.  But, it can also help you prepare for the next step in your career.

While the resources below are specific to the NIH, all universities have similar groups to make you feel welcome.  Check your campus list of organizations. This is not an exhaustive list of groups available, but is meant to provide an idea of what types of organizations exist.  All of these groups are welcome to everyone in the NIH community.

  • The Graduate Student Council and the postdoc association Felcom both support trainees by providing social events, career networking and communities for intramural trainees.
  • NIH Black Scientists and Friends Network, an informal group dedicated to the mentoring and career enhancement of Black scientists at NIH. For more information, contact Dr. Roland Owens.
  • LGBT-Fellows and Friends helps its members thrive in their professional and personal lives by addressing issues unique to the LGBT community.  Join the LGBT-FF listserv to learn about up-coming LGBT-FF seminars, professional development activities and networking opportunities.
  • The NIH SACNAS (Society for Advancing Hispanics/Chicanos & Native American in Science) chapter provides a trans-NIH resource to provide a forum to network, share successes and strategize about future goals. For more information and to learn about upcoming events, join the NIH-SACNAS listserv.
  • The Women of Color Research Network supports all scientists interested in raising the voice and visibility of Women of Color (WOC) in biomedical and behavioral research.  This new social media site is for women of color and everybody interested in diversity in the scientific workforce.  Visit the Web site to join.
  • MOM-DAD-DOCS seeks to provide mentorship, support, and networking to intramural trainees (basic or clinical) with children.  Contact Lori Conlan (conlanlo AT mail.nih.gov)
  • The Office of Equal Opportunity and Diversity Management plays a lead role in making certain that representatives of all groups feel comfortable and can work optimally on the NIH campus.
  • Visiting Fellows Committee, ~60% of the NIH postdoc population is visiting from other countries.  There are over 20 country groups to connect you with fellows from around the world: https://www.training.nih.gov/country_support_groups

If I Could Do One Thing Differently in My Career…

June 10, 2013

Post written by Sharon Milgram, Director of The Office of Intramural Training & Education.

One of the fun things I get to do as part of my job directing the Office of Intramural Training & Education, is to give talks on the NIH campus and at universities across the United States.  Students ask me all types of questions about my career; how a physical therapist became a cell biologist, what I like about my previous faculty job and my current administrative job, what I don’t like, what I look for when I hire new employees, etc. One question always gets asked– what I would do differently if I could do it all over again. I always give the same response – “I would have learned more about leadership and management earlier in my career”.

Yes, I got my faculty job based on my science — the papers I published, the grants I wrote, and the way I communicated enthusiasm for protein trafficking. But, I was successful in that job because of the hard work and dedication of the many students and staff who worked with me. When I communicated my expectations clearly and dealt with issues calmly and up-front, my lab ran more smoothly and I got more work done. Therefore, my success depended on my science skills AND my management/leadership skills. The same is true now in a completely different setting. My success in the OITE depends on others doing their best work.  It is critical that I work continuously on my management and leadership skills.

There is broad agreement that scientists must develop strong interpersonal skills to do effective team science and to transition from training to management positions (at and away from the bench). Yet, we don’t always find the time to be trained in these areas. Many students, postdocs and mentors find little value in “soft skills” training.  They believe that a successful career in science is determined predominantly by publications, patents, funding, etc. However, the book Lab Dynamics (Cohen and Cohen)* surveyed scientists and found that nearly two-thirds reported that interpersonal conflict had hampered progress on a scientific project between 1-5 times in their career. Furthermore, many of our alumni share that managing and leading a team is one of the earliest challenges they face.

To help you start developing your management and leadership skills, the OITE has developed the “Workplace Dynamics” series. The workshops focus on: 1) increased awareness of self and others using the Myers-Briggs Type Indicator®; 2) communication styles and influencing others; 3) conflict dynamics; 4) team theory; and 5) diversity training. Our goal is to help you gain greater self-awareness and an appreciation that others may approach conflict and group work differently. We hope that by providing a language to discuss these differences, you will be better able to manage yourself and work across differences in the workplace. We use examples that resonate with scientists and combine didactic material with interactive group work. We know that trainees appreciate the interactive group work, but that they also like helpful resources they can access from home. I have listed some of these resources at the bottom of this post in the hopes that readers not currently at NIH can benefit from the reading the material as they seek similar programs on their campuses. Those of you currently at NIH – summer interns, postbacs, grad students, postdocs, clinical and research fellows – take advantage of these workshops now. The Summer/Fall Workplace Dynamics series starts in June.  Find our more and register here.

References:

Lab Dynamics: Management Skills for Scientists, Cohen and Cohen (2005) New York: Cold Spring Harbor Press

MBTI: http://www.myersbriggs.org/

Type Talk at Work (Revised): How the 16 Personality Types Determine Your Success on the Job by Otto Kroeger, Janet M. Thuesen and Hile Rutledge (2002) Delta

Thomas-Kilmann Conflict Mode Instrument (Tuxedo NY: Xicom, 1974) and CPP TKI product page

Eckerd College Center for Conflict Dynamics: http://www.conflictdynamics.org/

Becoming a Conflict Competent Leader: How You and Your Organization Can Manage Conflict Effectively by Craig E. Runde and Tim A. Flanagan (2006) Jossey-Bass

Crucial Confrontations by Kerry Patterson, Joseph Grenny, Ron McMillan and Al Switzler (2004) McGraw-Hill

Feedback That Works: How to Build and Deliver Your Message, CCL, 2000

Emotional Intelligence: 10th Anniversary Edition; Why It Can Matter More Than IQ by Daniel Goleman  (2006), Bantam

Working with Emotional Intelligence by Daniel Goleman (2000) Bantam

Readings for Diversity and Social Justice, Third Edition by Maurianne Adams, Warren Blumenfeld, Carmelita Castaneda and Heather W. Hackman (2013) Routledge

 


Preparing for the Application Season

June 3, 2013

Regardless of whether you are planning on applying to Graduate School or Professional school, a successful application requires preparation.  If you remember one word from this post, remember “Early.”  Take your exams (GRE, MCAT, LSAT, GMAT, etc.) early.  Get your letters of recommendation lined up early.  Write your personal statement early.  Have someone look over your materials early.  Submit your applications early.  When you get an interview, show up early.

For those applying to graduate school:

You will want to have your GRE taken by the end of August or beginning of September.  This means you need to start studying now.  In particular, you need to go back and review your high school math.  If you don’t use, you lose it.  The chances are that you haven’t used much of what will be on the test in your four (or more) years of undergrad.  You need to take practice exams…lots of them.  Much of successful test taking is being comfortable and familiar with the format.  Reading about the format is not the same as practicing it.

So why do you need to get your GRE done so early?  So you can know whether or not to retake the exam.  If you are unsure whether your scores are strong enough for a particular program, ask the Director of that program.  Unlike Medical School, these programs are trying to recruit you.  Most of the time, the program directors will respond directly to your e-mail asking about the strength of your application.   Writing in with your scores early shows that you are prepared and organized.  Writing in late, shows just the opposite.

For those applying to professional schools:  This specific material is written for Medical School applications, but the principles apply to all professional school applications.

Submit your AMCAS as soon as possible (note, that is another way to say “Early”).  Ideally, you want to submit it with in two weeks of the opening. Do NOT wait for your MCATs.  You can always add more schools later depending on where your scores make you most competitive.  Your odds of acceptance decrease the later you submit your application.  You simply do not look prepared if your application comes in right before the terminal deadline.  Also, medical schools review applications in waves.  The sooner your application is in, the fewer competitors you have for the most number of invitations.

Once your applications are in, pay attention to your e-mail.  Even if you are on vacation, check it daily.  You want to get your secondaries turned around and back to the schools quickly.  You need to show that you are eager to get in and that you are organized enough to turn things around quickly.  If your secondary sits in your inbox for a week while you are relax on vacation, you look eager to relax on vacation and not attend medical school.

For all applicants:

Nothing is as valuable as face-to-face interactions with representatives of the schools you are applying to.  If you are in the Washington D. C. area, the NIH hosts a “Graduate and Professional School Fair” on July 17 in Bethesda.  This is really a first chance to meet admissions officers and make a strong impression.  There will be 153 programs in attendance to meet with postbacs and students as well as informational sessions geared toward specific disciplines such as med schools, dental school, pharmacy school, psychology programs, PhD programs in biomedical sciences.  If you are in the area, this really is an opportunity you do not want to miss.