Biotech Careers
While the industry is expected to generate $1.65 trillion in global sales by 2020, there are some biotech careers that pay much more than others. People who choose biotechnology as their career will be in one of these high-paying fields, including laboratory managers and scientists who earn salaries between $102,000 and $134,000 per year on average. And those are just your lower salaries! At the higher end of the spectrum those earnings can reach into six figures each year.
Those are huge numbers for a relatively young career field, meaning the demand for biotechnology workers is high and the pay is getting higher.
Lab managers earn a median salary of $102,000 yearly, with the top 10 percent earning more than $134,000 each year. Salary levels in this field vary widely depending on a variety of factors including location, experience and other responsibilities within the department. However, "in general lab managers make around average salaries," said Josh Robbins, director of science and innovation at Willis Towers Watson. Even with the effects of inflation factored in "lab managers still remain well above average in salaries," he added.
The reason lab managers are paid well is because the work they do is specialized, Robbins said. "While the title suggests management and oversight, most of the position's time is spent working alongside staff, who are likely much more junior than the position itself." He added that workers in this career field typically have graduate degrees and manage highly skilled scientists with Ph.Ds.
Lab managers oversee all aspects of their departments from staff-hiring to finances and product development. Robbins said a manager will also oversee any outsourced work such as consultants, affiliates or contract research organizations (CROs) to ensure quality control in areas such as intellectual property rights.
With such a wide range of responsibilities, benefits can include medical and dental insurance, life insurance, retirement savings options and vacation and sick leave. Of course there are other ways to enhance your earnings potential while working in the lab manager field. Robbins said a lab manager can get promoted to executive or scientific positions within their department with salaries that can easily top $150,000 or more.
"A key characteristic in high-paying lab manager jobs is having graduate level skills in biology, chemistry and biochemistry," said Jason Chiou, director of science career services at the Society for Biotechnology Professionals (SobP). "However, an individual's background doesn't need to be purely academic. Lab managers can come from industry, government or other sectors with a strong science background. Other skills that are important are project management, process improvement and technology transfer."
What about the actual lab managers themselves? Who are they? And what do they think about their careers?
"I've been a Biotech Lab Manager for five years in the biotech industry," said Barbara Beall, Biotech Lab Manager at ProteinSimple in San Jose, Calif. (https://proteinsimple.com/), who currently sits on the SobP Board of Directors. "My salary is a combination of cash and stock incentives so it is difficult to say exactly how much I earn each year," she added. "I make well into the six figures and my department's budget is greater than $1 million per year. My work is extremely rewarding and the work environment is wonderful, including a very talented team of scientists."
My team includes scientists who are experts in DNA sequencing, protein purification/assembly/microarrays, and bioinformatics. I am responsible for overseeing their work to make sure that we meet our quality standards at all times," Beall said. "This means that I am responsible for ensuring that they have everything they need—from materials to money—to be successful. I am also responsible for everything they produce while they are working on our team. Do I work alone at times? Yes, but I have great support from my team. We team up to do the best science possible in the most efficient manner.
"I know the benefits of having a strong science background but it's even more important to be a good leader. I'm always looking for ways to improve our team's performance and culture, while also growing within the company," Beall said.
Beall's advice for anyone interested in this career field is "to think outside of the box and be willing to learn new technologies and perspectives." She added that it's important to be able to identify opportunities for improvement, deal with setbacks and work well with others.
A career in biotech is a good choice for those who want job stability and a high salary. But it's also important to look at what else is out there. "It's tough getting into the field of lab management. You must be an expert in your field, good at leading and managing, and have experience managing scientists," Robbins said. Jobs for new graduates in this field can be hard to find, he added.
Lab manager positions are available with employers like Millennium: The Takeda Oncology Company (http://www.takedaoncology.com/), Merck & Co (http://www.merckcareersusa.com/), Biogen Idec (http://www.biogenidec.com/careers/index.html), and Selexis (http://www.selexis.com/).
"We have an excellent reputation for R&D and product development so our lab managers get the opportunity to work on cutting-edge technologies," said Larry Wilson, director of laboratory operations at Selexis in Ann Arbor, Mich. (http://www.selexis.com/). "It's very important to be able to work with people from different backgrounds and cultures so we can develop the expertise necessary to perform in our lab environment," he added.
Lab manager positions are also available with employers like Brightrock Bio LLC (http://www.brightrockbio.com/careers/), Gilead Sciences (http://www.gilead.com/our-company/careers), and Virus Research Institute ( http://www.vri.ac.uk/ ).
"It takes a special person to work in our lab environment," said Brian Matthews, vice president of operations at Brightrock Bio, LLC in Seattle, Wash. (http://www.brightrockbio.com). "Our lab managers are responsible for leading a team of scientists and technicians to complete research work on contract for a client company," he added. "This position is challenging, as we have state-of-the art equipment to manage, employees with a variety of backgrounds and levels of experience, and a variety of clients."
Brightrock Bio's job posting for lab manager reads:
Are you an analytical chemist, computational biologist or an immunologist? Do you have experience in hormone or cytokines research? In oncology research? If so, the position for a Senior Laboratory Manager may be for you! Brightrock Bio LLC (http://www.brightrockbio.com) is seeking a highly motivated individual who has professional experience in analytical chemistry, cytokines or oncology research to manage our research programs.
Conclusion
The biotech lab manager positions are filled with opportunity. A job as a lab manager can provide you with the income to enjoy life and take on any project you want. Just be sure to look carefully at your qualifications before applying.
Lab Manager Career Opportunities
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Pharmaceutical Sales Management - https://www.experiencelabs.
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Biotech Careers