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Companies want to hire PhDs. Some of the most highly sought after skills are things that PhDs excel at. PhDs are highly competent in a range of important industry-relevant skills, including ability to gather and interpret information, the ability to analyze data, ability to solve problems, ability to learn quickly, creativity/innovative thinking (PLOSone). Having these skills is a major advantage. But, the study wasn’t all positive. It also showed that PhDs are lacking in some of the key skills required to move into industry, especially at the management level. The skills gaps included: the ability to set a vision and goals, ability to work on a team, and ability to manage others, also known as leadership skills (PLOSone). And, in industry, these leadership skills matter. 35% of hiring managers rejected candidates because they lacked the required leadership skills (SHRM). So, how will you prove to the hiring manager that you have what it takes to bring great value to their organization?

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Every week we scour the internet to find the best industry transition articles for PhDs, so you don’t have to. We have two consultants independently search for the most informative articles on networking, CVs/resumes, interviews, transferable skills, academic blues, industry positions, and business acumen. Our consultants vote on a top article for each category and for a top overall article each week. This week’s best articles are here.

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 Skip ahead to: 8:48 – Show Me the Data 30:42 – How To Become An Unstoppable PhD w/Ruben Gonzalez 1:00:20 – Overcoming Imposter Syndrome In Business w/Aja Isble Does your job search fill you with anxiety that you don’t know how to handle? Ready to find the courage needed to overcome your career challenges? …

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As an academic PhD, you have probably never even heard of an “earnings call”. But, as you transition into industry, it’s important that you become more well-versed in industry concepts — such as earnings calls, because industry needs employees who have good business acumen. 65% of business leaders said that a lack of business acumen strongly inhibits the execution of company strategies (BTS). If you develop strong commercial and business acumen, you can be a great asset to a company. And, listening to earnings calls is a great strategy to develop and improve your business acumen.

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Every week we scour the internet to find the best industry transition articles for PhDs, so you don’t have to. We have two consultants independently search for the most informative articles on networking, CVs/resumes, interviews, transferable skills, academic blues, industry positions, and business acumen. Our consultants vote on a top article for each category and for a top overall article each week. This week’s best articles are here.

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In this interview with Chris Drummond, Ph.D., he details how he made the transition from being an undervalued postdoc to an invaluable part of an industry team. He enjoys the pace, resources and real-world application of working in industry. As a PhD, he knows the struggle you face when trying to leave academia and shares great advice on how you can make the transition.

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On average, an industry research scientist will make $41,000 more per year than a postdoc. 41,000 extra dollars (Glassdoor). In industry, they value your time and contribution more than in academia. But, they also offer you even more ways to earn money. Many companies offer employees stock options. Approximately 9 million employees hold stock options (Society for Human Resource Management). These stock options can result in thousands of dollars of extra wealth for you. But, in order to make the most of the opportunity to invest in the company you work for, you need to have a basic understanding of how it all works.

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Every week we scour the internet to find the best industry transition articles for PhDs, so you don’t have to. We have two consultants independently search for the most informative articles on networking, CVs/resumes, interviews, transferable skills, academic blues, industry positions, and business acumen. Our consultants vote on a top article for each category and for a top overall article each week. This week’s best articles are here.

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The environment in many academic institutions is toxic. Up to 42% of academics have experienced some form of bullying in academia (Nature). This bullying is causing many PhDs to experience Imposter Syndrome. People who suffer from Imposter Syndrome are less satisfied with their jobs, have a negative impact on the company they work for, and earn a lower salary than those people without Imposter Syndrome (Frontiers In Psychology). To succeed outside academia, you must change your mindset. The Imposter Syndrome and mindset you learned in academia will not serve you in industry.

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Every week we scour the internet to find the best industry transition articles for PhDs, so you don’t have to. We have two consultants independently search for the most informative articles on networking, CVs/resumes, interviews, transferable skills, academic blues, industry positions, and business acumen. Our consultants vote on a top article for each category and for a top overall article each week. This week’s best articles are here.

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Skip ahead to: 2:45 – Show Me the Data 13:55 – Advanced Pitching & Communication Strategies w/Bill McGowan 51:22 – Transitioning Into A Scientist Position w/Tapan Shah, Ph.D. 1:02:10 – How To Get Hired As A Consultant In Industry w/Patricía Silva, Ph.D. Are you confident with your elevator pitch? Do you project confidence when you…

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Many, many PhDs are scared to negotiate. Or, they just don’t know how to negotiate, so they don’t do it. CNBC reported that only 29% of job seekers negotiated the salary for their current position. This is a terrible mistake. All of these people who are not negotiating are losing out on substantial salary increases they could be gaining. For example, on average when someone did negotiate their salary, they gained a 13.3% increase in salary. That means that if you get an initial offer of $75,000 and you gain a 13.3% increase, you will earn an extra $10,000 per year!

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57% of business leaders reported that soft skills are more important than technical skills (LinkedIn). Skills like leadership, communication, collaboration and time management were at the top of the list. Business intelligence also made the top 20 list of in-demand skills. When companies have a pool of talented job candidates, having a solid understanding of business can make you the top candidate. 41% of Chief Human Resources Officers cited business acumen as the most lacking skill when sourcing new talent (Consultancy UK). Your PhD makes you a highly desirable candidate. And, a solid business understanding will put you right to the top of the list.

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