Written by Arunodoy Sur, Ph.D.
I went into my first industry interview full of confidence.
I had an abundance of the technical skills that were required for the position — surely, they would want to hire me.
But, as soon as they started asking me questions, I realized that — uh oh — I was not as prepared as I thought I was.
I tried to hide the feeling of panic that overcame me.
They asked me, “What do you think of the most recent trends in our industry?”
I was ready to answer that tough interview question, “What is your greatest weakness?” but this came out of left field.
I had no idea what was happening in industry.
I wasn’t sure what to do.
It was a rude awakening.
If I was going to get an industry position, I would have to figure out how I could stay up-to-date with what’s happening in the business world.
This was a totally unexpected and new thing for me.
So, I started researching and learning.
For my next interview, I was ready for those behavioral interview questions, but also I was prepared to talk about the most recent industry trends.
Why You Have To Know The Current Industry Trends
In the past few years, the global life science and healthcare industry has experienced significant changes brought about by technical breakthroughs.
And, through all that change, the industry has managed to strengthen and grow.
According to a report by the consulting firm, Deloitte, at the end of 2015 total global health care spending was US$ 7 trillion and this spending is expected to grow to US$ 8.7 trillion by 2020.
This increase represents opportunities of growth, as well as new challenges for major players in the life science sector.
This growth also indicates more career opportunities for students who are interested in pursuing careers in this sector.
Alongside the growth seen in industry, each company within the sector is striving to adapt to changes and challenges.
Embracing changes and adopting new technologies and policies that will shape the future of the life science industry will be key to any organization’s success.
Industry is looking for employees who can take on this challenge.
And, while the hiring of PhDs is up in industry, an article published in The Scientist reported that only around 15% of US postdocs secure tenure-track jobs and the unemployment rate for postdocs is increasing.
Lack of opportunity and low pay have made PhDs realize that there is much more available to them outside of the ivory tower, and that PhDs in industry positions are happy with their careers.
Recently, Nature published a large-scale survey that examined the salaries and job satisfaction levels for PhDs and MSc holders.
The survey found that those who were working in industry were more satisfied with their work-life balance than those working in academia — 79% versus 68%.
The data is clear: PhDs are finding opportunities outside of academia and they are happy.
But, in order to get hired into these industry jobs and position yourself as the best job candidate, you must be up-to-date with the latest industry trends.
Cheeky Scientist Top 6 Industry Trends Articles
As a PhD, there is a need for your skills and expertise in industry.
But, employers might view your academic status and think that you don’t have the industry know-how they want.
Prove them wrong.
Don’t be a naive academic.
Do your research and learn as much as you can about what’s happening in industry as a whole, as well as in your specific field.
This will set you apart from other job candidates.
Here are the top 6 Cheeky Scientist articles to help PhDs stay up-to-date with current industry trends...
As technology, society, and economies change, companies in industry face the challenge to adapt to these changes.
Being familiar with these trends and positioning yourself as a person who knows what’s coming next will make you a very desirable employee.
By staying on top of the latest developments, you can demonstrate that you are a top industry job candidate.
Bottom line — as a PhD transitioning into industry, it is essential that you understand what is currently happening in your industry.
To learn more about how to write a killer resume and other essential tips on how to land your dream job in industry, including instant access to our exclusive training videos, case studies, industry insider documents, transition plan, and private online network, get on the waitlist for the Cheeky Scientist Association.
Latest posts by Arunodoy Sur, Ph.D. (see all)
- 6 Best Articles About Life Science Industry Trends For Your Job Search - December 6, 2018
- Top PhD Job Candidates Must Know These 4 New Developments Influencing The Life Science Industry - November 27, 2018
- How PhDs Can Impress Employers By Understanding The Latest Life Science Industry Trends - November 20, 2018