Industry Or Academia? More Like “Feast Or Famine”

Join Isaiah for a frank talk about the ups and downs of academia PhDs are facing right now

• First, Isaiah covers the statistics most PhDs need to face up to
• Next, he shines a light on the demand for PhDs in industry
• Finally, he wraps up with job-searching tips

From This Week’s Show…

53% of PhD Students Begin Their Degree Aiming For a Professorship But Only 3% Actually Achieve That Goal

Your odds of getting tenure now are less than half of a percent, at best.

Tenure is dead.

Everyone knows now that academia is broken. And there’s no way to unbreak it. Are you tired of hearing this?

Well wake up because hiding from the truth isn’t going to make your life any better and it’s not going to increase your compensation any time soon.

Now, by contrast, according to a recent MassBio report, there has been a 143% growth in industry jobs that require a PhD in the past 10 years.

Quality Academic Positions Are So Scarce Now That Staying In Academia Leads To Long Periods Of Job Insecurity

Of course, the idea of academia is still alluring.

One of the main pros of a career in academia used to be the opportunity to contribute to the advancement of knowledge in a research area that interests you.

Academics also had the opportunity to help shape the future of their field and share their knowledge with other students.

A career in academia also presented the potential for job security. Tenure-track faculty positions offered long-term job security and the opportunity to build a stable and rewarding career.

All of this is a thing of the past.

A Career In Industry Now Offers Not Only Better Compensation Than A Career In Academia

The hiring process in industry is also much more predictable and transparent than in academia.

Many industry jobs offer long-term job security and the opportunity for career advancement.

Industry professionals also have the opportunity to do research and development projects that can have a direct impact on people’s lives in the real world.

In other words, you can finally see your knowledge be translated into something that helps people in this lifetime.

There are also some cons to a career in industry, too. When it comes to deciding on a career in academia or industry, it’s really a choice of feast or famine.

Between the variety of work you’re qualified for, the staggering difference in compensation, or the opportunities for advancement, a career in industry is one of abundance and prosperity in today’s world.

…

** For the full podcast, check out the audio player above.

If you’re ready to start your transition into industry, you can apply to book a free Transition Call with our founder Isaiah Hankel, PhD or one of our Transition Specialists. Apply to book a Transition Call here.