If you are considering a career in pharmaceuticals, then you will be pleased to know that there are numerous lucrative options for you to choose from. Indeed, in a fast-growing industry such as this, the professional opportunities within it are ample.
Below, we offer more information about the pharmaceutical industry, the skills and traits you’ll need to succeed within it, as well as the high-paying careers it has to offer.
What is the pharmaceutical industry?
The pharmaceutical industry is focused on researching, developing and manufacturing medication to treat illnesses and alleviate medical symptoms. It’s a highly lucrative sector, consisting of both public and private organizations, which has been experiencing tremendous growth over the past years, with the US boasting the largest national pharmaceutical market worldwide.
What skills and traits do pharmaceutical professionals need?
Working in the pharmaceutical industry requires a certain set of skills and traits, including:
- Attention to detail: Working in pharma requires that your work be meticulous and of the highest standard to ensure that all regulations and requirements are adequately met.
- Compliance knowledge: Being familiar with the relevant regulations and procedures, be it medical, manufacturing or cybersecurity, is crucial in this industry, as there can be serious repercussions if they’re not strictly followed.
- Problem-solving skills: A major part of working in pharma involves troubleshooting and finding solutions to ongoing healthcare-related problems.
- Specialization: Specializing in a specific pharmaceutical field such as biochemistry, clinical research or biotechnology may be essential to securing a job in pharma.
- Project planning: The ability to manage and partake in a project, from clinical trials to manufacturing operations, is essential for every pharmaceutical professional.
10 best-paying pharmaceutical jobs
The pharmaceutical industry boasts numerous lucrative jobs. If you’re interested in tapping into this sector, then it might be worth considering the following careers:
10. Pharmaceutical manufacturing technician
Average annual salary: $53,915
What they do: Pharmaceutical manufacturing technicians oversee the production process of medication and medical equipment by operating machinery, sterilizing tools and managing other components.
How to become: To pursue this career, you will need either an associate’s degree in a science-related subject, or equivalent professional experience. Being familiar with production planning and equipment calibration will also be an important part of the role.
9. Regulatory specialist
Average annual salary: $70,455
What they do: Regulatory specialists are responsible for ensuring that organizations, and their products, are compliant with regulations related to safety, environment and health. They also assist with the creation of regulations and policies to ensure that all medical products and equipment are safe and effective before entering the market.
How to become: A bachelor’s degree in a relevant field such as biology, pharmacy or chemistry is essential to pursue this career. Following this, an advanced degree focused on regulatory science or health services, as well as a certification in regulatory affairs are necessary.
8. Pharmaceutical sales representative
Average annual salary: $73,550
What they do: As a pharma rep, your job involves meeting with physicians and other healthcare professionals to present medical products and offer more information on specific drugs and medicines that can improve patient treatment.
How to become: To pursue this career path, you’ll likely need a degree in marketing, business or other relevant subjects. Pharma companies often provide training to novice pharma reps to acquaint them with their products.
7. Pharmaceutical financial analyst
Average annual salary: $74,090
What they do: Being involved in the business side of pharmaceuticals, financial analysts study financial data, marketing trends and other relevant information to guide pharma companies through their business decisions, offering invaluable financial advice and insight.
How to become: To pursue this pharmaceutical career, you will need a degree in finance, accounting or economics before accumulating the necessary work experience through the industry.
6. Biostatistician
Average annual salary: $76,870
What they do: Biostatisticians analyze and evaluate data compiled through medical research to make accurate predictions and conclusions regarding biological situations. They work alongside data scientists to develop research studies.
How to become: An educational background in statistics, mathematics or other relevant subjects is necessary, while a postgraduate or doctoral degree is often required to access this professional route. At the entry level, biostatisticians have the opportunity to specialize in clinical statistics by working in hospitals, pharmaceutical companies and healthcare organizations.
5. Biotechnology consultant
Average annual salary: $78,040
What they do: Biotech consultants work closely with biotech companies to develop and improve products and processes within them. Their expertise is centered around equipment, products and treatments in the biotechnology industry, and their main aim is to help these organizations optimize their operations through their guidance and advice.
How to become: Biotech consultants usually have a background in computer or data science as well as engineering, business and finance. To rise into a consulting role, you need to gradually build your experience and expertise by working in the biotech industry.
4. Pharmaceutical manager
Average annual salary: $86,600
What they do: Pharmaceutical managers are tasked with overseeing the development of pharmaceutical products, ensuring their safety and effectiveness. Another of their key duties is to direct the teams working on these products and to make sure there is a smooth running across all aspects of this process.
How to become: This is a managerial position that requires experience in the pharmaceutical field as well as relevant education, including an advanced degree.
3. Research scientist
Average annual salary: $87,660
What they do: A research scientist plays a key role in clinical research and trials. Their objective is to study drugs and other pharmaceuticals, testing their efficacy and making the necessary modifications to optimize their performance.
How to become: At a minimum, a bachelor’s degree in chemistry, biology or other relevant subjects is necessary. A master’s degree and a doctorate may also be required, as they are essential for honing your research skills and attaining necessary experience in a clinical lab, before pursuing entry-level research assistant jobs.
2. Medical science liaison
Average annual salary: $116,160
What they do: Medical science liaisons are the link between clinical research and practice. Their role is to educate about the usage of medicine and medical devices, helping healthcare professionals understand how to utilize them properly as well as providing information on clinical trials, their results and their implications.
How to become: MLSs must possess a degree in pharmacy, medicine, biochemistry or other medical sciences. It’s often required that an MLS has significant experience in a relevant field such as clinical research or biomedical science to transition into this career.
1. Clinical data manager
Average annual salary: $120,870
What they do: With this being a managerial position, you’ll be responsible for other data analysts, leading your efforts to interpret, evaluate and accurately represent clinical data through reports, briefings and presentations.
How to become: Before becoming a clinical data manager, you must climb the ranks as a data analyst. As an entry-level professional, you will need to possess a degree in a subject such as computer science, biology or healthcare management. From there on, you’ll need to build your experience in statistical data analysis within the healthcare industry and earn a certification in information management and data analysis.
Final thoughts
Pursuing a career within the pharmaceutical industry is certainly a wise move. With its unprecedented growth and numerous high-paying jobs on offer, the opportunities for career prosperity are abundant.
What is more, you’ll be part of a sector that is focused on improving lives; whether you are involved in vigorous clinical research, manufacturing or quality assurance, you will play an important part in this mission.
Are you considering a career in the pharma industry? Let us know in the comments section below.