Career change--Advice on what to do before quitting

[GustavH]

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Hi SNDers,

I just got accepted to pharmacy school and I'll be attending in the fall. I'm 27 and have been out of school and working at a biotech company for ~5 years now.

I'm looking for advice on things to do before I quit my job to go back to school, i.e. get my yearly doctors and dental visits (we have really good insurance)....stock up on company pens 😉....and whatever luxuries I enjoy as a full time employee that I won't have as a student (I'm having a hard time coming up with a checklist).

If anyone else had experience with this I'd greatly appreciate the advice.

Thanks!

 

[WVUPharm2007]

Get an internship ASAP if you want a job after you graduate. Work so hard at said job tjat the director/DM is crazy not to hire you after you graduate. The job market is cutthroat right now.

 

[mustang sally]

1. Save as much money as possible (hopefully you've already done that at this point).
2. Definitely hit up all those doctors while you have the chance.
3. Just be prepared to go back to the student lifestyle for four years. Really this is the biggest thing you need to do. It will go by fast but it's hard to feel like a grownup when you are in class everyday with all of the high school drama.

 

[PharmaTope]

Get an internship ASAP if you want a job after you graduate. Work so hard at said job tjat the director/DM is crazy not to hire you after you graduate. The job market is cutthroat right now.

start praying you find a job when you are done because this does not seem likely with pharmacy in the future

 

[npage148]

Stay with the biotech and dump pharmacy school and get a MS or PHD in a relevant area. Or steal trade secrets and sell them to China

 

[xiphoid2010]

I was in pretty much the same situation as you back in 05. All the things you mentioned are pretty much small fish. If you are young and healthy, hitting up docs with no obvious concerns is just going to get you more unpleasant probing than you need. Go to a dentist or optometrist might be worth while.

The biggest thing was get your finances in order. Like someone said, save up as much moolah as you can and get use to living like a student.

Know exactly how to roll-over your retirement benefits. And then use the 4 years of school to convert it all to a Roth IRA and pay little to nothing on taxes. Cha ching on like getting 28% more money.

If you have a house like I did, then that's big one, and you are not exactly in a housing market like I was in 06. Ask around, find a realtor that's good and trust worthy, and you can negotiate the commission (down to 5% or maybe even a little less).

After the house, there is the furniture. It's gonna be a huge loss. Cragslist is where I sold mine. Car wise, if you are still paying for a super sized SUV/truck, consider trading it in for a college beater.

Find an affordable apartment. Do your research online, then take an extended weekend to go and look. Note the apartment next to campus can be more run down, but can save a lot of money and time on parking and commuting.

Once in school, get an internship ASAP and work 16-20 hr/week for living cost and resume padding. If you have a choice of schools, go to an affordable public one. If you are going out of state, check the school to see how to establish residency and pay instate tuition if possible. Keep your grades up, suck in as much scholarship as possible, and make resume look good doing it. Yeah!

 

[PharmaTope]

Stay with the biotech and dump pharmacy school and get a MS or PHD in a relevant area. Or steal trade secrets and sell them to China

this really is the best advice posted. stay with the company and get a PhD.

 

[xiphoid2010]

this really is the best advice posted. stay with the company and get a PhD.

I'm not sure about biotech. But Ph.D jobs in big pharmas like Pfizer have stagnated. An old friend told me that new hires are getting offered $80-$90K, that's pretty much the same as what it was back around 2003-05.

But the good thing is that they pay you instead of you pay them for that 4-5 years.

 

[PharmaTope]

I'm not sure about biotech. But Ph.D jobs in big pharmas like Pfizer have stagnated. An old friend told me that new hires are getting offered $80-$90K, that's pretty much the same as what it was back around 2003-05.

But the good thing is that they pay you instead of you pay them for that 4-5 years.

that is still good for a new hire. factor in the free degree and the stipend, you got a good deal. not only that, a PhD has more utility than a PharmD. a PhD is more transferable to teaching if you want as well than a PharmD is.

really evaluate pharmacy school very very hard.

 

[npage148]

I'm not sure about biotech. But Ph.D jobs in big pharmas like Pfizer have stagnated. An old friend told me that new hires are getting offered $80-$90K, that's pretty much the same as what it was back around 2003-05.

But the good thing is that they pay you instead of you pay them for that 4-5 years.

You need to pick the right field. Med chem, yeah industry is rough. Pharm Sci, it's a lot better. And when the market collapses on pharmacy jobs you'll be happy you just dont have a generic PhamD

 

[xiphoid2010]

that is still good for a new hire. factor in the free degree and the stipend, you got a good deal. not only that, a PhD has more utility than a PharmD. a PhD is more transferable to teaching if you want as well than a PharmD is.

I don't consider either to be a clear cut better option.

Ph.D stipend (~$20K), Pharmacy internship (~$15K/yr). X4 years = ~$20K total

Tuition wise, Ph.D ($0). Pharm.D (varies from $15 to $40k/yr) x4 years = ~$60 - $160K total

Income post graduation: Ph.D vs retail Pharm.D = ~$30K/yr

So break-even point = ~2 - 6 years on paper.

Other variables: Ph.D could take a year or more longer. Don't know any Ph.Ds doing per-diem to earn more money, although famous ones can consult. Ph.D pay starts out lower, but scale more with experience over the career.

I thought about it hard back in 2005 and Pharm.D came out clear winner for me. Now it's not as clear cut, but from a financial perspective it is still not a lop-sided game.

 

[GustavH]

I don't consider either to be a clear cut better option.

Ph.D stipend (~$20K), Pharmacy internship (~$15K/yr). X4 years = ~$20K total

Tuition wise, Ph.D ($0). Pharm.D (varies from $15 to $40k/yr) x4 years = ~$60 - $160K total

Income post graduation: Ph.D vs retail Pharm.D = ~$30K/yr

So break-even point = ~2 - 6 years on paper.

Other variables: Ph.D could take a year or more longer. Don't know any Ph.Ds doing per-diem to earn more money, although famous ones can consult. Ph.D pay starts out lower, but scale more with experience over the career.

I thought about it hard back in 2005 and Pharm.D came out clear winner for me. Now it's not as clear cut, but from a financial perspective it is still not a lop-sided game.

Thanks xiphoid! This was really helpful. I have thought about a Ph.D as well, and when it comes down to it, I feel that a Pharm.D is a better fit for me.

I've been accepted to UCSF and am considering their Pharm Sci pathway. I'm hoping I can come back to my current place of work for an internship in the summer (well known biotech), which would be awesome, but we shall see...I know I'm up against some stiff competition!

I already live in SF, so no house and no SUV. All in all, I'm really looking forward to the Fall and feel that this is the right fit for me. I thank you all for your advice!!😍

 

[Momus]

Screw Pharm.D... If I want to start over, I'd be a doc.. ER/Opth, anesthesiologist, radiologist, cardio or heck even dentist is better than pharmacist nowadays; Doesn't make sense to kill another 4 years to get another mediocore ~$100k job. Go all the way ~7 more years and be at the top of the food chain!

 

[Hello2000]

Yeah get a medical degree train as an ophthalmologist and become a laser eye surgeon. These guys make 10k for a morning's work:

 

[Shnurek]

Yeah get a medical degree train as an ophthalmologist and become a laser eye surgeon. These guys make 10k for a morning's work:

lol only like 5% of ophthos make this. Laser eye surgery bubble is gone nowadays. Back in the day it was good yes. Nowadays, you hear/see desperate laser eye surgery commercials all over the place. $299 for both eyes! Oh, you want sterile prep? Extra $300!