On September 12, 2024, TBP’s executive coach Dr. Matthew Fenton gave a presentation to Stanford University postdocs about some of the key pros and cons a postdoc should be aware of when considering a career in biotech/pharma. Dr. Fenton is a former life science researcher, former professor, and former NIH executive with over 35 years of experience. He is also a certified executive coach and has coached early career scientists moving from academia into new careers in industry, government, and science-adjacent positions. This is part 1 of a 3-part series that outlines the major points and tips from Dr. Fenton’s presentation.
Postdoctoral Fellows have achieved a high level of expertise within an academic environment and work ecosystem, where they have generally enjoyed a large amount of intellectual and creative freedom. They are scientifically ready to take their next step forward as an independent researcher, or even a science-adjacent career. Postdocs who have only worked in academia are often unaware of the cultural, technical, administrative, and managerial differences that they will experience in their career exploration of a biotech/pharma ecosystem.
It’s important to realize that not all biotech/pharma companies are the same. They can largely be grouped into three major categories: large public companies; mid-sized companies as well as Contract Research Organizations (CROs); and start up or early-stage companies. There are huge differences between these three categories with respect to resources, staffing, stability, corporate culture, and opportunities for personal and professional development.
There are several important items to consider (and ask about) as you reflect on your next career transition steps. Below are some tips to get you started:
Skills Alignment. Do a little self-reflection and consider how your skills align with the industry's needs. Research the technology and products of the company you are applying too. If your skills match, you're already halfway there. The second is crafting a professional application. Precision matters! When writing your cover letter, address each qualification listed in the job description. Highlight relevant skills and experiences without regurgitating your CV. Include a dash of creativity and highlight your problem-solving prowess. Don’t overembellish!
Networking. Reach out to industry professionals, attend industry-specific events, meet with industry scientists at the conferences you attend, and connect on LinkedIn. Building your network is a life-long process. If you want to move into biotech/pharma companies, you need to gain insight into their culture. Is it formal or relaxed? For multinational companies – what country’s culture dominates? Research the vibe - check out their website, read Glassdoor reviews, and ask around. Are they more “TGI Fridays" or "formal lab meeting Fridays"? Also, ensure your personal values align with the company. Investigate their ethical practices, code of conduct, commitment to sustainability, and social responsibility. You want to work somewhere where you can be proud of the organization.
Assess. Biotech and pharma have constantly evolving ecosystems—new techniques, technologies, and discoveries pop up all the time. Competition with other companies is fierce. Look for companies that invest in employee development, training, leadership opportunities, and mentorship. But don’t forget your personal needs. It’s not all about the science! Where are you willing to relocate? Do you have a spouse/partner who will need to relocate with you? Investigate work hours, remote work options, and whether they respect your weekends. Try this thought experiment – imagine what an ideal work-life balance would look like in your perfect job and compare it to the candidate company. Beyond the offered salary, peek into the benefits package - health insurance, retirement plans, gym memberships, even stock options. A good 401k plan literally pays dividends in the future.
Finally, ask yourself - does this job ignite your passion? Are you excited about the impact your work could have? Because when you love what you do, you are happy to get up in the morning and go to work.
In summary, professional coaching can help academic researchers overcome a wide range of challenges by providing personalized support, skill development, and strategies for professional growth. In our second blog of this series, we will share the new work ecosystem and what transitioning into that new ecosystem means for you.
TBP’s team of professional certified coaches have extensive life sciences expertise in academia, biotech, and pharma. They are qualified to provide researchers, early-career academic scientists and postdocs the necessary tools and techniques to enhance their professional development. If you’re interested in learning more about how we can support your leadership development through executive and career coaching, please review our capabilities at www.bradleypartnerships.com and contact us at info@bradleypartnerships.com
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