From the Archive: The Industry Job Search is a Marathon, Not a Sprint

February 25, 2019

Professionals in business attire running toward red finish line.For an industry job for scientists, the interview process generally takes six to eight weeks.  Starting with an initial phone screen, successful candidates move on to an on-site interview where they usually meet with a number of people from the organization and give a scientific presentation.  Next is the final interview, during which a verbal offer may be extended.  What is not as well elucidated is how long the overall search process is likely to take.

The rule of thumb in industry is that your job search will take one month for every $10,000 of the job’s salary and generally longer for your first industry position.  The positions sought by postdocs often times have annual salaries approaching $80,000, so it is easy to do the math.  It is likely that your industry job search will last the better part of a year.

Therefore, a job search is more akin to a marathon than a sprint.  As with many successful long-term projects, it is important to set and meet interim goals along the way. Weekly and monthly objectives are recommended for your job search.   The most critical areas to make continual progress on are:

  • Develop and follow a target list of companies.
    The most common targeting criteria include: companies with a common research focus as your experience; companies within your preferred geographic locations; and companies in which you have contacts.  It is important to follow company news, which may include information on key employees, strategies and financial reports.  For smaller companies in particular, news of a large cash inflow, an initial public offering (IPO), or a licensing deal is often a harbinger of increased hiring.  Overall, this type of data can help set you apart from other potential candidates when that interview comes because you have done your “homework.”
  • Create and foster your network of industry contacts.
    Effective tools for this step are LinkedIn, in which you can sort by company name to identify your contacts within your target companies, and the NIH Alumni Database.  Informational interviews are a good place to start to acquire not only information about particular jobs or a company’s working conditions, but many other answers to the varied questions you may have.  You may even be able to get advance information on potential job openings before they are posted.  From these initial contacts it is important to then expand your network to include their contacts.  A great final question for these sessions is, “Is there anyone else that you might recommend that I speak with?”

Since interviewing for a particular job normally takes only six to eight weeks but your total job search can take upwards of a year, it is likely that you will face some disappointment along the way. Taking care of yourself is essential. Scheduling time for activities such as exercising, meditating, spending time with friends and loved ones, and speaking with a therapist and/or career counselor is often helpful to job-seekers.

This is important not only to cope with possible frustration or sadness, but also to maintain your edge during the interview process.  Feel free to connect with the OITE for guidance and support. https://www.training.nih.gov/career_services.

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FROM THE ARCHIVE – Industry vs. Academia: Which is Right for You?

November 16, 2015

Golden_file_cabinetThis From the Archive post revisits a decision many individuals struggle with. Should I stay in academia or should I go into industry?  According to a 2015 Nature survey, graduate students dream of academia but are keeping their career options open.  According to Nature, “The survey also revealed uncertainty and ambivalence. More than 60% of respondents said that they are “likely” or “very likely” to pursue a job in industry (see ‘Industry appeal’). And 61% said that they are “likely” or “very likely” to pursue a research job with a government or foundation, which makes it clear that many graduate students are unclear about their futures.” Science Careers held a webinar on the topic of industry vs academia and the panel discussion included speakers from both fields who took questions from an online audience of postdocs and graduate students. Even though this webinar is a few years old, there are still some very relevant points to keep in mind today.

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Many of you may have asked yourselves this question at some point in your academic careers. Which job would give you the most freedom research-wise? More time with your family or for outside interests? Higher salaries? Job security?

1. What questions should you ask yourself to determine whether academia or industry is the right fit for you?

  • Do you want to stay in research or move away from the bench?
  • What are your strengths?
  • What do you enjoy doing?
  • What are you most passionate about?

2. What are some essential differences between academia and industry?

  • In academic work, you will be expected to be a self-starter, comfortable with self-promotion, and will largely work independently, developing research questions on your own.
  • In industry, you will also be expected to drive yourself, but with a view toward a common goal, and an understanding of what is expected of you as a member of a research team, based on objectives set at the beginning of your employment.

3. How can I learn more about these two worlds?

  • Conduct research on the web.
  • Talk with people you know in both spheres.
  • Attend university or institute career symposia, career fairs, panels, etc.
  • Talk with people at scientific meetings.
  • Attend any lunches, networking events, etc. after research talks on your campus.
  • Ask scientists you meet about their own career paths.

4. When should I start preparing for either job?

  • It’s never too early! Even by the 2nd year of your postdoc, you should be updating your CV, participating in skills courses, taking on a summer student – basically doing things that will set you apart from the crowd on the job market.

5. Are there jobs available in industry or academia in this bleak economic climate?

  • Yes! There’s never a total hiring freeze in industry, so there are always opportunities for people who are smart, well-trained, and have good ideas.
  • In academia, positions may be slightly easier to come by in private institutions, if endowments have rebounded.
  • Universities need to maintain research vitality, so hiring will always be a priority.
  • One way of uncovering opportunities is to find out which universities are building new science facilities. These institutions will typically need new science faculty to fill new lab space!

6. Which path allows for greater work/life balance?

  • This depends on the particular company/institution, particular department, particular job.
  • While some may think that schedules are tougher on the academic side, some industry jobs also require a great number of hours during the work week.
  • Some may feel a greater sense of freedom and therefore balance on the academic side because the hours are flexible, while others may feel more balance in industry because the hours are more structured.
  • This depends largely on the person and the work situation.

7. Does compensation vary greatly from one to the other?

  • No, compensation levels are surprisingly similar based on level of experience, promotion, etc.

8. What skills are most important for me to develop before going on the job market?

  • Networking is #1, followed by teamwork, and being a thoughtful leader.

9. What are the pros and cons in academia vs. industry?

  • Benefits in academia: a sense of autonomy, an excitement around novel discoveries, intrinsic motivators, travel, getting to know people all over the world, collegial environment. Downsides: grant renewal, feeling pressure to publish or perish.
  • Benefits in industry: potential benefit to patients of what you’re working on, fairly immediate application of science, access to resources, connections to other scientists around you. Downsides: cannot always investigate areas of personal interest.

10. Any final thoughts, words of wisdom?

  • Stay true to yourself, know yourself well before going out on the market.
  • Practice what you’re going to say so you do the best job of selling yourself.
  • Start early and practice often.

Continue this conversation with professionals you meet in both academia and industry. These interactions will help you to determine what is best for YOU!